Transcript

Credlin | 13 May · Credlin

0:01
Speaker 1: Peter Krendlin live on Sky News Australia.
0:07
Speaker 2: Good evening, welcome to the program. Here's what's coming up
0:09
Speaker 2: as we get through the budget on Kredline. The wash
0:13
Speaker 2: up plenty to get you across all the tricky accounting
0:15
Speaker 2: that the smoke and mirrors that Labor doesn't want you
0:18
Speaker 2: to notice. We'll stay with me, stay with me and
0:21
Speaker 2: you'll certainly notice them. Once a plagiarist, often a liar,
0:26
Speaker 2: is that now the legacy of Anthony Albanezi and that
0:29
Speaker 2: lie about intergenerational equity, everyone getting the housing tax break
0:34
Speaker 2: will keep it. And after last night, the younger generations
0:37
Speaker 2: are the ones shut out? Now, sorry, how's that equitable?
0:42
Speaker 2: Plus what does the opposition need to do? As Labor
0:45
Speaker 2: sets up this battle, the opposition Leaver gives Australia his
0:48
Speaker 2: budget response tomorrow. Well, I'll give you my view in
0:52
Speaker 2: a moment, and can Labor really survive the overarching narrative
0:56
Speaker 2: that's taken over today that this budget is the mother
1:00
Speaker 2: of all lies.
1:02
Speaker 3: This is a budget based on a fraud, on a lie.
1:05
Speaker 4: Why did Labor lie to Australians about your plan to
1:09
Speaker 4: tax them more?
1:10
Speaker 1: This is a bald faced lie. It's not a mistruth.
1:13
Speaker 4: They knew what they'd said, and they did the other
1:16
Speaker 4: other issue that's lying.
1:17
Speaker 2: Yet we will stay with that because as well as
1:22
Speaker 2: having form as a world class.
1:25
Speaker 5: Liar reducing power prices by two hundred and seventy five
1:29
Speaker 5: dollars two hundred and seventy five dollars a year two
1:32
Speaker 5: hundred and seventy five dollars two hundred and seventy five
1:36
Speaker 5: dollars two hundred and seventy five dollars a year.
1:41
Speaker 2: Albert Is is also, as we know, a plagiarism gold medalist.
1:47
Speaker 5: Only it is not the least bit interested in fixing anything.
1:50
Speaker 6: Bob Romson is not the least bit inter resident solving it.
1:54
Speaker 4: He's only interested in two things.
1:56
Speaker 3: He is intercedent two things.
1:58
Speaker 5: Making strange afraid of it, making you afraid of it,
2:01
Speaker 5: and telling them who's to blame for.
2:03
Speaker 1: It, and telling you who's a blame for it.
2:05
Speaker 5: We must do better, and we can do better, and.
2:08
Speaker 7: We can do better, and we must do better, and
2:10
Speaker 7: we will do better.
2:13
Speaker 2: He's a plagiarist because what was announced last night in
2:15
Speaker 2: the Albanezi government's fifth budget was a direct cut and
2:19
Speaker 2: paste of bill shortened election platform in twenty sixteen and
2:22
Speaker 2: twenty nineteen. Now the difference is that Shorten told you
2:26
Speaker 2: the truth and he lost, whereas Albanezi lied to you
2:30
Speaker 2: and he won.
2:32
Speaker 4: Ask you straight up, are you considering altering the capital
2:36
Speaker 4: gains tax discount in this country?
2:38
Speaker 5: What we're considering doing is handing out a budget Andrew
2:41
Speaker 5: on the second Tuesday in May.
2:44
Speaker 4: So no CGT change.
2:47
Speaker 5: Our focus, as I've said, is tax cuts.
2:50
Speaker 8: Can you rule out any changes to negative gearing and
2:53
Speaker 8: capital gains taxes?
2:55
Speaker 1: How hard is it?
2:56
Speaker 7: For the fiftieth time?
2:59
Speaker 2: So a lie, so clearly a lie. And yet this
3:03
Speaker 2: morning on Breakfast TV, the Prime Minister was still trying
3:06
Speaker 2: to defy reality.
3:08
Speaker 5: We've changed our position from about your position. No, we've
3:14
Speaker 5: changed our position.
3:15
Speaker 9: But what's changed position?
3:18
Speaker 10: What's changed so much in the past twelve months that
3:20
Speaker 10: you've had to break a promise he repeatedly made when
3:23
Speaker 10: it comes to affordability and generational gap.
3:26
Speaker 5: No we're not, No, we're.
3:27
Speaker 1: Not, Sarah.
3:28
Speaker 5: Let's be very clear, Sarah, be very clear. There is
3:32
Speaker 5: absolutely no change to existing properties views.
3:36
Speaker 10: As you well know, the negative hearing and in addition
3:39
Speaker 10: to twenty nineteen election and he lost. Why have you
3:42
Speaker 10: chosen to lie to Australias instead of letting them vote
3:44
Speaker 10: on it.
3:45
Speaker 5: What we've done is to take every single dollar across
3:49
Speaker 5: the forward estimates, so that will come from many changes
3:52
Speaker 5: to tack and we're delivering that them back.
3:55
Speaker 10: In Question one or and that'll lie into bracket print.
4:04
Speaker 5: July Sarah, July, you get a tax cut. Next July,
4:08
Speaker 5: you get another tax cut.
4:11
Speaker 2: Now forget last night's budget being the blueprint for the
4:14
Speaker 2: coming financial year. Instead, I'd see it as the start
4:18
Speaker 2: of the next election campaign because at the heart of
4:21
Speaker 2: our nation's budget books is a financial plan built on
4:24
Speaker 2: a lie. But that requires the opposition to muscle up
4:28
Speaker 2: and go on the attack. It's been a while since
4:31
Speaker 2: the Coalition has had an opportunity like this, but they
4:36
Speaker 2: can't miss taking it because to be brutal, they won't
4:40
Speaker 2: just lose seats they should have won. If they fail
4:44
Speaker 2: to go hard here, they're gone all together. As the
4:47
Speaker 2: budget papers reveal, Labour's books are cooked, red ink everywhere,
4:53
Speaker 2: dead on its way, well passed, and historic trillion dollars,
4:57
Speaker 2: a big Australia agenda that's got our pop population said
5:00
Speaker 2: to hit thirty million by twenty thirty. Now it wasn't
5:04
Speaker 2: that long ago that the AVS projected we would only
5:07
Speaker 2: reach twenty five million by twenty thirty seven, but with
5:11
Speaker 2: Labour's record high immigration, it's thirty million in just four
5:16
Speaker 2: years time. In last night speech, the Treasurer used the
5:19
Speaker 2: Iran War as an excuse nine separate times, even though
5:23
Speaker 2: the RBA Governor has called out this excuse, saying that
5:26
Speaker 2: Australia's fiscal and inflationary problems started long before the US
5:32
Speaker 2: moved on Tehran.
5:34
Speaker 9: Inflation in Australia was already too high before the recent
5:37
Speaker 9: conflict in the Middle East began. The most recent data
5:40
Speaker 9: have confirmed that some of the increase in inflation was
5:43
Speaker 9: being generated by economy wide capacity pressures, including ongoing tightness
5:48
Speaker 9: in the labor market.
5:51
Speaker 2: In his earlier budgets, the Ukraine War was an excuse
5:54
Speaker 2: then before that, of course, it was COVID. But at
5:56
Speaker 2: no point, as charm as all alban easy take any
6:00
Speaker 2: responsibility for Labour's inability or refusal to cut spending. Spending
6:05
Speaker 2: that's the highest in our nation's history. Spending that is
6:09
Speaker 2: just your money out of your pocket, not his, Given
6:12
Speaker 2: that every dollar that government spends is money taken from you,
6:15
Speaker 2: either in taxes today or taxes tomorrow. But don't worry,
6:20
Speaker 2: Jim's gonna save you. He's got this new Working Australians
6:24
Speaker 2: tax offset. I mean a focus grouped name if I
6:28
Speaker 2: ever heard one and for all the money is set
6:31
Speaker 2: to lose on income tax bracket creep ever higher inflation,
6:35
Speaker 2: intrast rate rises, the cost of power of everything going up,
6:39
Speaker 2: or he's going to sly and two hundred and fifty
6:41
Speaker 2: dollars back into your pocket. Next year, we will put.
6:46
Speaker 11: More money into the pockets of thirteen point three million
6:50
Speaker 11: workers with a new two hundred and fifty dollars Working
6:53
Speaker 11: Australians tax offset. This offset is targeted to workers and
6:57
Speaker 11: it represents the most meaningful permanent increase to the effective
7:01
Speaker 11: tax free threshold since labor increased it more than a
7:05
Speaker 11: decade ago.
7:08
Speaker 2: Meaningful, he says, it works out to be four dollars
7:12
Speaker 2: eighty a week, sixty eight cents a day. That's not meaningful,
7:18
Speaker 2: that's insulting. Arneca Wells his colleague that loves to rip
7:22
Speaker 2: off the tax play. She would even get out of
7:24
Speaker 2: bed for sixty eight cents a day, would she? And
7:27
Speaker 2: yet he expects you to be grateful, so grateful that
7:31
Speaker 2: you'll forgive Labor lying to you at the last election. Now,
7:35
Speaker 2: as I said last night, a broken promise is only
7:37
Speaker 2: a broken promise if voters understand that they have been
7:41
Speaker 2: lied to. There will be no carbon tax under the
7:45
Speaker 2: government high lead. The last time Labor lied like this,
7:49
Speaker 2: the Coalition made sure it was hung around their neck.
7:54
Speaker 2: And that is the challenge now for the Coalition, But
7:57
Speaker 2: for Angus Taylor, the job is bigger than just on
8:00
Speaker 2: Abot's dogged attacks on Labour's credibility. He must now save
8:04
Speaker 2: the party from oblivion at the hands of one nation.
8:07
Speaker 2: So my advice to the Liberals, to Taylor in particular,
8:10
Speaker 2: for tomorrow night, go for broke, do not hold anything back. Indeed,
8:16
Speaker 2: in many respects, given how bad things are, I'd be
8:20
Speaker 2: saying to Taylor that he's got more freedom than almost
8:23
Speaker 2: any other Liberal leader in recent times. Now is the
8:27
Speaker 2: time to be bold. Having junk net zero, the Coalition
8:31
Speaker 2: should declare tomorrow night that it will strip out every
8:35
Speaker 2: single dollar of net net zero spending from the budget
8:39
Speaker 2: and put all of those billions into indexing the thresholds
8:44
Speaker 2: of the income tax rates. Now that would end once
8:48
Speaker 2: and for all, the killer of all aspiration, and that's
8:51
Speaker 2: bracket creep. It would also end the BS that is
8:55
Speaker 2: Labour's green religion instead of Labour's insulting sixty eight sends
9:00
Speaker 2: a day tax break. A move like this from Taylor
9:03
Speaker 2: would put thousands back into the pockets of everyday working people,
9:07
Speaker 2: every single year, real money, not a focus grouped SoundBite.
9:13
Speaker 2: I would also do the right thing by older Australians
9:15
Speaker 2: and I'd reverse labors cut to their private health insurance
9:18
Speaker 2: rebate that was announced a couple of weeks ago, put
9:21
Speaker 2: that two thousand dollars back in their pocket. And while
9:24
Speaker 2: I'm at it, I'd also give everybody, absolutely everyone over
9:28
Speaker 2: the age of seventy five, immediate access to the PBS
9:32
Speaker 2: price drugs given you've paid taxes all your lives, and
9:36
Speaker 2: this would stop the distortion that so often happens as
9:39
Speaker 2: people try desperately to get a health care card or
9:43
Speaker 2: a part pension to help cover the cost of medicine.
9:46
Speaker 2: What else, well, I'd announce that the sixteen billion we
9:49
Speaker 2: spend on childcare would be paid direct to parents, let
9:54
Speaker 2: them choose what's best for their child, their family, instead
9:57
Speaker 2: of funneling it into unionized b childcare. I'd also base
10:02
Speaker 2: the ABC funding on ratings rather than a one billion
10:06
Speaker 2: dollar lump sum. Of course, the more people that want
10:08
Speaker 2: to watch it, great more funding. But the less people
10:12
Speaker 2: that watch it, the more irrelevant it becomes to ordinary Australians,
10:16
Speaker 2: or the less funding it gets because it's meant to
10:18
Speaker 2: be the national broadcaster, not a mouthpiece for urban left
10:23
Speaker 2: wing elites. What else, Well, I'd audit every single dollar
10:28
Speaker 2: of the thirty billion we spend on Aboriginal people, and
10:32
Speaker 2: I'd call it Little Sharon's audit. Sharon was not a statistic.
10:40
Speaker 7: She was a child.
10:42
Speaker 2: She was part of my family, she was part of
10:44
Speaker 2: this nation. Audit every dollar, so the money goes to
10:50
Speaker 2: those who need and deserve it, and it doesn't then
10:53
Speaker 2: fuel the Aboriginal economy that's invested more in turning us
10:58
Speaker 2: against each other than two around the lives of our
11:01
Speaker 2: most disadvantaged Australians. And how about this for an announcement
11:05
Speaker 2: on Thursday Night? It would not cost a cent. I'd
11:09
Speaker 2: put the definition of woman based on biology back into
11:13
Speaker 2: legislation and end once and for all the erosion of
11:17
Speaker 2: our human rights in the warped name of inclusion. And
11:22
Speaker 2: I would be tough, really really tough on migration numbers.
11:28
Speaker 2: I'd go back to the Howard era average of one
11:31
Speaker 2: hundred and twenty thousand per year, not the current five
11:35
Speaker 2: hundred thousand under labor as they use immigration, it's a
11:39
Speaker 2: Ponzi scheme to prop up a bad, bad budget, or more,
11:44
Speaker 2: a whole lot more. I could be here all night,
11:48
Speaker 2: but there you go, Angus. That's at least a start.
11:56
Speaker 2: Let's get the headlines profeisty question time today. We'll get
11:59
Speaker 2: into all in a moment with Andrew Clenell. But the
12:01
Speaker 2: headlines now with our political reporter Ruben Spargo.
12:05
Speaker 3: The Prime Minister is defending his broken promises in the
12:08
Speaker 3: federal budget, pressing ahead with a one hundred billion dollar
12:12
Speaker 3: tax grab. Negative gearing will be limited to newly built
12:15
Speaker 3: properties from July next year. The fifty percent capital gains
12:19
Speaker 3: tax discount will be replaced by a system tied to inflation.
12:23
Speaker 1: Why did labor lie to Australians.
12:25
Speaker 5: This is a change in our policy. But unless we
12:28
Speaker 5: ate now, we're looking at a generation missing out.
12:32
Speaker 3: Taxes on trusts will increase to thirty percent from July
12:36
Speaker 3: twenty twenty eight. The Coalition is vowing to oppose the
12:39
Speaker 3: changes and even repeal them. If it wins the next election.
12:43
Speaker 4: We'll do whatever it takes to roll these taxes back.
12:46
Speaker 12: I see this as nothing but communism taking over and
12:50
Speaker 12: redistributing wealth.
12:52
Speaker 3: The Greens are considering whether it will support the plan.
12:55
Speaker 3: Labour is promising to handback a modest two hundred and
12:59
Speaker 3: fifty dollars tax offset for way journers, Treasurer Jim Chalmers.
13:02
Speaker 3: Hence it could be supercharged closer to the next election.
13:06
Speaker 11: And it will give us the architecture to dial up
13:08
Speaker 11: that tax relief in the future if we want to.
13:12
Speaker 3: The tax offset will flow each year from mid twenty
13:15
Speaker 3: twenty eight.
13:17
Speaker 2: All right, plenty to get across. But let's start with
13:19
Speaker 2: Labor really taken to tasks this morning over those lies
13:23
Speaker 2: about negative geary and capital gains.
13:26
Speaker 3: Do you now concede learning plied to the Australian public?
13:29
Speaker 5: We changed our position.
13:30
Speaker 10: What's changed so much in the past twelve months that
13:32
Speaker 10: you've had to break a promise you repeatedly made?
13:34
Speaker 2: Can Australians still trust the things you say?
13:37
Speaker 5: We have changed our position now, I'm upfront about that.
13:41
Speaker 4: For such a large change to the tax system. Why
13:44
Speaker 4: wasn't this taken to an election.
13:46
Speaker 5: We've changed our position, but we have not changed the
13:50
Speaker 5: arrangements that are in place for existing investors.
13:55
Speaker 2: All right, joining me our political editor Andrew Cleanell. Well,
13:59
Speaker 2: it wasn't just for TV there, Andrew. On the front
14:01
Speaker 2: page of every paper today. The budget's gone down like
14:04
Speaker 2: a lead balloon. You said last time that if they
14:08
Speaker 2: can get away with this. I think it might have
14:10
Speaker 2: been last night in the broadcast. Actually, if they can
14:12
Speaker 2: get away with this, I'll be able to get away
14:13
Speaker 2: with anything. So will they get away with it? Do
14:16
Speaker 2: you think?
14:19
Speaker 4: I don't know. I don't know. I think it's possible.
14:22
Speaker 4: I think that's their expectation. I like to have the
14:26
Speaker 4: answers to your questions, Peter, but I'm waiting for the
14:28
Speaker 4: next news poll, which is probably out on Monday, and
14:32
Speaker 4: then even if that, even if the government's okay, there
14:35
Speaker 4: probably for the issue to wash out to people over
14:38
Speaker 4: the next two to three weeks to several months. This
14:42
Speaker 4: could be a slow burner, this one, because there's unintended consequences,
14:45
Speaker 4: I think, particularly with the capital gains tax changes. My
14:50
Speaker 4: let the experience covering politics tells me they won't get
14:53
Speaker 4: away with it. But we're in a different area these days,
14:56
Speaker 4: aren't we.
14:59
Speaker 2: I think it's a cumulative lie though, because if you
15:02
Speaker 2: look at the promise on power bills, if you look
15:05
Speaker 2: at how he let them down with a division over
15:07
Speaker 2: the voice, if you look now this big lie and
15:11
Speaker 2: unfortunately it was caught on camera so many times. You know,
15:15
Speaker 2: you mash it up. It wasn't just one quick quip
15:18
Speaker 2: at the end of a campaign or something. I mean,
15:19
Speaker 2: it is absolutely repeated multiple journalists. You were one of many.
15:24
Speaker 2: I think this is now a test for the opposition.
15:27
Speaker 2: There is the lie. It's a big lie, but can
15:30
Speaker 2: you make it stick.
15:33
Speaker 1: Well?
15:34
Speaker 4: Something else I said on the telecast last night, Tony
15:38
Speaker 4: Abbott was one of the most accomplished opposition leaders we've
15:42
Speaker 4: ever seen in this country. And he just didn't rest.
15:45
Speaker 4: You know, he worked crazy hours in just prosecuting a
15:48
Speaker 4: case and just repeating the same mantra over and over.
15:52
Speaker 4: To do it until you're about to vomit really for
15:54
Speaker 4: a person to hear at the first time, That's what
15:57
Speaker 4: Angus needs to be out doing on this because I
16:00
Speaker 4: think the big hole in this is right at the
16:03
Speaker 4: moment you've got Jim Charmers and Anthony Albanez, you're making
16:05
Speaker 4: out some panacea for first home buyers and it ain't.
16:09
Speaker 4: You know, like the budget papers said, rent will go
16:12
Speaker 4: up maybe two dollars a week, and you might knock
16:15
Speaker 4: off nineteen grand off the growth, not the price, the
16:18
Speaker 4: growth of a house, which means it doesn't do much
16:21
Speaker 4: at all, except you know, down the track it might
16:25
Speaker 4: contribute several years from now. And what it does do
16:28
Speaker 4: is feel the Treasury coffers. So you know, not only
16:33
Speaker 4: is it a breaken promise, I don't think it's particularly
16:35
Speaker 4: effective at dealing with the housing crisis. And that's the
16:40
Speaker 4: point they need to continually make that it's some kind
16:43
Speaker 4: of a canard, really, and really about Jim Charmer's unfulfilled
16:48
Speaker 4: ambition since about twenty thirteen he's wanted to do this. Arguably,
16:52
Speaker 4: this is a reform that should have occurred maybe years ago,
16:55
Speaker 4: when it was a more appropriate time for it. The
16:58
Speaker 4: genie's out of the bottle on the house crisis since
17:01
Speaker 4: so I don't think it will make much difference at all.
17:04
Speaker 4: We're two years before an election. We're going to hear
17:06
Speaker 4: a lot about this issue in those two years. Do
17:08
Speaker 4: the voters get to the polls and go where you
17:10
Speaker 4: said you were going to fix this and you didn't.
17:14
Speaker 2: The other point I would make between where we are
17:17
Speaker 2: now and the Julia Gillard lie is we only ever
17:20
Speaker 2: had that one little grab of her standing there on
17:23
Speaker 2: Channel ten. There'll be no carbon tax under the government.
17:25
Speaker 2: I laid that was it.
17:27
Speaker 1: That's all.
17:28
Speaker 2: We had to hang around a neck, and by god,
17:29
Speaker 2: we hung around her neck. There are multiple journalists that
17:32
Speaker 2: will lie to over multiple years. And also Australians looked
17:37
Speaker 2: at this at two separate elections and rejected it as
17:40
Speaker 2: a package of reforms. I think this is where Angus
17:43
Speaker 2: Taylor has a much stronger position or a platform to
17:46
Speaker 2: build off. But just join into generation equity because you
17:49
Speaker 2: went to the heart of the hoax today at the
17:53
Speaker 2: press club at the address again by the Treasurer and
17:55
Speaker 2: the Q and A. Have a listen.
17:57
Speaker 4: Myself and the older people in the room here negatively
18:00
Speaker 4: gear now on existing property, but young people can't anymore.
18:06
Speaker 4: So when it comes to young people in this country,
18:10
Speaker 4: are you really on their side? Or as young people
18:14
Speaker 4: would say, is it all about getting that bread for
18:18
Speaker 4: the tax man?
18:22
Speaker 11: Are you sure young people say that? Andrew, if you're
18:24
Speaker 11: a younger person with the means to invest in housing,
18:27
Speaker 11: go for it. Just invest in a new home add
18:30
Speaker 11: to housing supply. We are not ending negative gearing entirely.
18:36
Speaker 11: We're saying, if you want a negatively gear in the future,
18:39
Speaker 11: buy a new home genuinely add to housing supply in
18:42
Speaker 11: this country.
18:43
Speaker 2: And I think the problem here on this one, Andrew,
18:47
Speaker 2: is they're in focused groups and the group said, I
18:52
Speaker 2: can't buy a house because all the oldies get the
18:54
Speaker 2: tax breaks, right, even though that's as you say in
18:57
Speaker 2: the papers in their own forecast, is not make any
19:00
Speaker 2: material change to stock or availability or rental availability. That's
19:06
Speaker 2: not being demonstrated by this change, but it hits something
19:10
Speaker 2: that the perception is what they're trying to fix here.
19:13
Speaker 2: The problem is once people understand that everybody who they
19:17
Speaker 2: think is advantaged stays advantaged, and that the opportunity or
19:23
Speaker 2: the aspiration that they might have to have a negative
19:26
Speaker 2: legeared property is being taken away from them, then that
19:30
Speaker 2: fairness line falls flat.
19:34
Speaker 4: And there you go back to the opposition's job, because
19:37
Speaker 4: the government's going to continue to sell that they are
19:41
Speaker 4: changing the world on this, they're changing the system. It's
19:43
Speaker 4: the opposition's job to point out that they're not, and
19:47
Speaker 4: that really is a test for Angus Taylor and Tim
19:49
Speaker 4: Wilson and the rest, because they haven't been able to
19:52
Speaker 4: get much over the Albanese government in recent years, have they.
19:55
Speaker 4: So I'll tell you that. Yeah, Labor did the focus groups,
19:58
Speaker 4: and my understanding is they had It wasn't just the
20:00
Speaker 4: young people, Peter. It was like the parents saying, well,
20:03
Speaker 4: the system's got to change because my kids can't afford
20:06
Speaker 4: to live in this city or you know, buy property,
20:09
Speaker 4: and it doesn't seem fair. So something's got to change,
20:12
Speaker 4: which can lead them to well, maybe negative gearing does
20:14
Speaker 4: have to change. And that was the focus group feedback,
20:17
Speaker 4: which is given the government some confidence. The other thing
20:20
Speaker 4: they're operating on is since one nation's re emergence, the
20:25
Speaker 4: line they keep hearing is the systems against us. So
20:29
Speaker 4: this is also a play at that, saying we're changing
20:32
Speaker 4: the system because the systems against you, and we're as
20:35
Speaker 4: Labor can see the systems against you, and we're prepared
20:38
Speaker 4: to make that change. So the question is will that work? Well,
20:42
Speaker 4: like you say, the budget papers themselves, the treasury officials
20:45
Speaker 4: at least do not think this will work.
20:47
Speaker 1: Do not think this.
20:48
Speaker 4: Will have a massive impact on things in terms of
20:52
Speaker 4: you know, house prices flattening out even so, and the
20:59
Speaker 4: reason of course has been because they know politically they
21:01
Speaker 4: can't stop the two million property investors having negative gearing.
21:04
Speaker 4: Now that would change the market. They have to grandfather,
21:08
Speaker 4: which means it's so ever so gradual. And it does
21:12
Speaker 4: really scribe for young people to be honest, you know,
21:14
Speaker 4: because if you live in a city like Sydney, you're
21:16
Speaker 4: probably going to invest in Newcastle or Brisbane or something
21:19
Speaker 4: like that to just to get a foothold to build
21:21
Speaker 4: up some capital. And you can still do that, I
21:24
Speaker 4: guess if it's a new property, you can still negatively gear.
21:26
Speaker 4: But we don't have enough tradees to build the new properties.
21:29
Speaker 4: So look, I just think there's a lot of hairs
21:31
Speaker 4: on this. I can see what they're doing. I can
21:34
Speaker 4: see what they're trying to do. There may even be
21:37
Speaker 4: an element of nobility to trying to do this, but
21:41
Speaker 4: only I think if you then give a bigger tax
21:44
Speaker 4: cup than two fifty, If you give a bigger tax
21:47
Speaker 4: cup than two fifty, right, And the problem is that
21:51
Speaker 4: tax cuts with thirty meter workers are so expensive. Even
21:55
Speaker 4: if they're they're probably going to promise tax cuts at
21:59
Speaker 4: the election. But seventy seven b and over ten years,
22:02
Speaker 4: which is what they get from these other taxes, doesn't
22:04
Speaker 4: buy you that much. I mean, the five dollars cup
22:06
Speaker 4: of coffee tax cut was seven eight b and over
22:09
Speaker 4: four years. So what they're going to give you a
22:11
Speaker 4: fifteen dollars and that's probably what they're going to do.
22:16
Speaker 2: All they're doing is spending billions of dollars around elections,
22:21
Speaker 2: around budgets to try and give you back some of
22:23
Speaker 2: your money. And it's a poultry amount, right, five dollars
22:26
Speaker 2: a week, not even five dollars, that's right. If they
22:29
Speaker 2: were fired income And this goes to both sides. And
22:32
Speaker 2: I said this about Angus Taylor's response for tomorrow night,
22:35
Speaker 2: they would bite the bullet and they would index the
22:38
Speaker 2: income tax thresholds. So you don't have this situation where
22:43
Speaker 2: you were constantly fighting you know, the movements in inflation,
22:47
Speaker 2: where if you work a little bit harder, you're actually
22:49
Speaker 2: going backwards in terms of what you take home pays.
22:52
Speaker 2: You take home pay your real wages and not keeping
22:55
Speaker 2: pace with inflation. But that's that's a much harder task
22:59
Speaker 2: that actually you know, it requires them all to grow
23:01
Speaker 2: a set. And I think that they like the idea
23:04
Speaker 2: of these little checks, these little handouts, because they think
23:07
Speaker 2: they are more palatable in a budget sense, because no
23:09
Speaker 2: one has the guts to do reform in this country anymore.
23:13
Speaker 2: Fared income reform. No, anyway, I've got to go. I've
23:15
Speaker 2: got David Pearl. Then yeah, please please spend no, finish off,
23:19
Speaker 2: finish off?
23:21
Speaker 1: Can I just say quickly?
23:22
Speaker 4: I think Angus Taylor will announce something tomorrow night which
23:26
Speaker 4: will include some sort of differentiation. I don't know if
23:28
Speaker 4: it's the indexation. If you were to do that, he'd
23:30
Speaker 4: have to show spending cuts to pay for that, because
23:32
Speaker 4: that's very expensive. But I do think he will have
23:35
Speaker 4: a significant policy on the tax front because he feels
23:38
Speaker 4: that he needs to differentiate from the Labor Party and
23:41
Speaker 4: do it early.
23:43
Speaker 2: So go for break and spend every single center that
23:46
Speaker 2: net zero money. Extrapolate that across Andrew Klenew, Thank you.
23:50
Speaker 2: All right, Let's go to someone who's got more experience
23:53
Speaker 2: than I'll ever have in this field format Treasury Assistant
23:55
Speaker 2: Secretary David Pearl. Well, you would have heard that chit
23:58
Speaker 2: chat there about the inn generational a quality argument from
24:03
Speaker 2: the government. But I mean it is Pete and thimball stuff,
24:06
Speaker 2: isn't it David? It is Peter.
24:10
Speaker 13: And if we just take a step back, what we
24:14
Speaker 13: have here is a government that is presiding over falling
24:17
Speaker 13: living standards. Real wages in this country are back at
24:20
Speaker 13: twenty eleven levels, productivity is at twenty fifteen levels. So
24:25
Speaker 13: when governments can't deliver the hope of higher living standards
24:30
Speaker 13: for everybody, they seek to divide the population by scapegoating
24:35
Speaker 13: some in order to sell a false hope to others.
24:39
Speaker 13: And that's really the strategic thinking under this whole tax
24:44
Speaker 13: package in the budget.
24:47
Speaker 2: What about inflation? The budget forecasts have got it to
24:51
Speaker 2: peaking at five percent this year. They say it's coming
24:53
Speaker 2: down in terms of the target, but they've also got
24:55
Speaker 2: some modeling in there that they could hit inflation could
24:59
Speaker 2: hit as high seven percent and growth goes backwards. Of course,
25:03
Speaker 2: So the prospect of recessions not out of the question,
25:06
Speaker 2: is it.
25:09
Speaker 1: No.
25:09
Speaker 13: I think Michelle Bullok and her board are desperately worried
25:14
Speaker 13: that the further interest rate increases. They probably have to
25:18
Speaker 13: deliver given their errors last year, and given the extra
25:21
Speaker 13: stimulus this budget's putting into the economy could tip the
25:25
Speaker 13: economy over into recession. That's why, as I wrote in
25:29
Speaker 13: The Australian Today Peter, the single biggest challenge for this
25:33
Speaker 13: budget was to take demand out of the economy and
25:37
Speaker 13: take pressure off the RBA. That was our best hope
25:41
Speaker 13: to avoid further recessionary interest rate increases and Jim charmers.
25:46
Speaker 13: Instead of focusing on that, focuses on side issues and diversions.
25:54
Speaker 2: I have to go back to that NDIS funding because
25:57
Speaker 2: I do not think I think it's fanciful. I do
25:59
Speaker 2: not think it's real. I think it was a promise
26:02
Speaker 2: cooked up through the ERC process so they could plug
26:06
Speaker 2: a savings figure in the out years of the forward estimates.
26:10
Speaker 2: I think, what is it thirty two billion or so
26:12
Speaker 2: to cover a whole But it's not real. I mean,
26:15
Speaker 2: the states have got to agree, there's got to be legislation.
26:19
Speaker 2: It puts a whole lot of people currently on the
26:21
Speaker 2: scheme back onto state systems, and none of those systems
26:25
Speaker 2: are funded or indeed in place. So I think this
26:28
Speaker 2: is absolutely mickey mouse. And the growth still for the
26:32
Speaker 2: NDIS is above trend inflation.
26:38
Speaker 13: It is the NDAs is an uncapped program. It's unmeans tested,
26:44
Speaker 13: and it's widely roughted. It's growing at ten percent a year,
26:48
Speaker 13: and that compounds every year, and the government wants us
26:52
Speaker 13: to believe that in the next two years it will
26:54
Speaker 13: kick one hundred and sixty thousand people and probably half
26:58
Speaker 13: a million people who arrived their income from providing services
27:02
Speaker 13: to those people and their families off the scheme to
27:07
Speaker 13: bring its growth rate down to two percent, conveniently over
27:10
Speaker 13: the Ford estimates. So this is a cynical exercise, Jim
27:15
Speaker 13: Charmers said to Mark Butler, I'm sure I need a
27:18
Speaker 13: big hollow log to hide all the extra spending in
27:21
Speaker 13: this budget. Labor has no intention to kick so many
27:25
Speaker 13: people off the program.
27:28
Speaker 2: No, they never will, absolutely never will. You're right, not
27:31
Speaker 2: just to point at the participants, David, but all the
27:33
Speaker 2: people that hang on and live off that ecosystem of
27:39
Speaker 2: the NDIS. Of course, ninety five percent are not even
27:42
Speaker 2: vetted or registered providers. Let's go to the off budget,
27:46
Speaker 2: spending ninety four billion of it in the budget, right,
27:50
Speaker 2: So this isn't in terms of your home accounting. This
27:53
Speaker 2: is money almost like a shoe box under the bed.
27:56
Speaker 2: It's the money that the bank manager doesn't really know.
27:58
Speaker 2: That's in your numbers. You've got the nban there, you've
28:01
Speaker 2: got the National Reconstruction Funds, you've got the Capacity Investment scheme.
28:07
Speaker 2: I mean, we've got a trillion dollars a debt and
28:09
Speaker 2: it's growing. We've got upwards of around forty billion in
28:13
Speaker 2: interest payments each and every year. But we don't even
28:17
Speaker 2: know what the books really look like because we've got
28:20
Speaker 2: this absolute dodge of ninety four billion off to one side.
28:28
Speaker 13: Well, that's right, And if you look at the government's
28:31
Speaker 13: contribution to inflation, that's reflected in the headline cash balance,
28:36
Speaker 13: not the underlying one. And the headline one captures all
28:39
Speaker 13: the money going into these government crony capitalist investment vehicles,
28:44
Speaker 13: and the deficit this coming financial year will be sixty
28:48
Speaker 13: billion dollars and the decisions the government made will increase
28:52
Speaker 13: spending this coming financial year. It goes to the productivity
28:56
Speaker 13: agenda too. If you look at the budget papers, Peter,
28:58
Speaker 13: you've got any capitalist investment vehicles being celebrated as contributing
29:05
Speaker 13: to productivity will they're being directed to invest in politically
29:10
Speaker 13: favored sectors like clean energy. That's productivity subtracting. So not
29:16
Speaker 13: only is the off budget part unsustainable. They're putting this
29:21
Speaker 13: money into politically motivated investment vehicles, which is bringing back
29:26
Speaker 13: memories in my mind to what we saw in Victoria
29:30
Speaker 13: in the seventies and eighties.
29:33
Speaker 2: Or WAINC David. I mean, I look at what has
29:36
Speaker 2: happened to the Future Fund since the departure of Peter
29:38
Speaker 2: Costello and the way it's been directed into renewables and
29:41
Speaker 2: other things that he said. You know, we're always looking
29:43
Speaker 2: for the best return. We weren't being told by government
29:46
Speaker 2: about a political investment. Talk to me about migration, because
29:50
Speaker 2: you know labor promises they'll bring it down. Forecasts look
29:54
Speaker 2: like they're dodged up. The reality though, year in year
29:57
Speaker 2: rout is there above forecast and we're set to hit
30:00
Speaker 2: population of thirty million by twenty thirty Now, it wasn't
30:05
Speaker 2: that long ago the ABS said we'd get to twenty
30:08
Speaker 2: five million by twenty thirty seven. We're way ahead of
30:12
Speaker 2: where we should be as a country. This talk from
30:16
Speaker 2: charmers that it will get the numbers down can't be believed.
30:23
Speaker 1: Now.
30:23
Speaker 13: They can't be believed because net overseas migration, as you
30:26
Speaker 13: and your viewers know, is beyond the government's control. The
30:30
Speaker 13: major factor fueling overseas migration is the overseas student scam,
30:38
Speaker 13: where degrees are offered to oversee students in exchange for
30:42
Speaker 13: an implicit promise for permanent residency. That's not community driven
30:49
Speaker 13: migration policy. It's driven by university greed. So really, if
30:55
Speaker 13: we're going to bring down net overseas migration, and I'm
30:57
Speaker 13: in favor of skilled migration by the way, to fear
31:00
Speaker 13: labor market gaps, but if we're going to bring down
31:02
Speaker 13: net overseas migration, we have to dismantle and phase out
31:06
Speaker 13: the overseas student industry, which is causing far more harm
31:11
Speaker 13: than benefit.
31:13
Speaker 2: All right, give you your top three or four things
31:16
Speaker 2: you want to hear from Angus Taylor tomorrow night.
31:21
Speaker 13: I'm glad you asked me that Peter I wrote in
31:24
Speaker 13: The Australian in February about Angus Taylor when he became leader,
31:28
Speaker 13: and I actually mentioned his budget reply being his big test.
31:32
Speaker 13: He has to cut the waffle and cut the platitudes.
31:35
Speaker 13: Three things, Peter index tax brackets, as you said, eliminate
31:41
Speaker 13: bracket creep. Labor does not want to fight that. They
31:44
Speaker 13: can't respond to her because of their addiction to spending.
31:47
Speaker 13: I disagree with Andrew Clenell. It actually doesn't cost a
31:49
Speaker 13: lot over the Ford estimates. The cost does accumulate later on,
31:53
Speaker 13: but that reduces the size of government. Two net overseas
31:56
Speaker 13: migration down to one hundred and fifty one hundred and
31:59
Speaker 13: twenty five. And three Abolish the safeguard mechanism the carbon
32:04
Speaker 13: tax on big industrial concerns in Australia. He needs to
32:07
Speaker 13: be very specific. Nail three commitments and people will pay attention.
32:15
Speaker 2: Mate, we're on the same page. I tell you what.
32:18
Speaker 2: I hope he's listening. Thank you very much, David Pearl
32:22
Speaker 2: there for my Treasury Assistant secretary. Or after the break
32:25
Speaker 2: we've got Ross Greenwood, he'll join in a discuss investors
32:29
Speaker 2: hit in the budget. Plus everyday Australian's out on the street.
32:33
Speaker 2: What was your verdict. I'll bring you that in a moment.
32:40
Speaker 2: Welcome back still become the hypocrisy the heart of Labour's
32:43
Speaker 2: increased to counter terrorism in the budget and more millions
32:47
Speaker 2: to investigate our soldiers. That's right. The Prime Minister isn't
32:51
Speaker 2: telling you about that, is he, But it's there in
32:53
Speaker 2: the numbers. Let's get in my good friend Ross Greenwood.
32:59
Speaker 2: We're going to talk about a number of things, but
33:01
Speaker 2: listen to this. This is this is the words around
33:03
Speaker 2: the working Australian's tax offset.
33:07
Speaker 1: I'm being double what I used to be. I used
33:11
Speaker 1: to fill up petrol full tank. It's about seventy five
33:15
Speaker 1: eighty dollars. I'd be about one thirty one forty So
33:18
Speaker 1: five dollars mean nothing.
33:19
Speaker 13: That means to me that it's not even a cup
33:22
Speaker 13: of coffee in this day and age.
33:23
Speaker 1: But anyway, that'll have to do.
33:25
Speaker 13: Ah, And it's coming in of course in twenty twenty seven.
33:28
Speaker 1: Is that right?
33:28
Speaker 7: Oh my god, I'll be dehydrated.
33:30
Speaker 1: A mini post compost?
33:33
Speaker 10: Is that five dollars or is it more four videos?
33:36
Speaker 1: Five dollars?
33:37
Speaker 2: I'll put it on a multi You know, there are
33:41
Speaker 2: people out on the street not very impressed with much
33:43
Speaker 2: of that. As I said, here is Ross green would
33:46
Speaker 2: to come in and give us his analysis. We'll get
33:49
Speaker 2: into the watto in a moment. The focus grouped little
33:52
Speaker 2: line the five dollars a week, not even five dollars
33:55
Speaker 2: a week, Bross, but just just in a top line,
33:58
Speaker 2: take will they get away with this big lie?
34:02
Speaker 6: They'll get away with it for sure, And The reason
34:04
Speaker 6: why they're going to a weigh with it is because
34:05
Speaker 6: the opposition is barely capable of raising the rallying cry
34:10
Speaker 6: the moment that Australians need. And there's the fundamental problem.
34:13
Speaker 6: You would hope that Angus Tyler can do it. You
34:15
Speaker 6: get a sense that he can't and so as a result,
34:18
Speaker 6: it really now comes down to his budget in reply
34:21
Speaker 6: speech tomorrow night to see whether there is an alternative strategy,
34:24
Speaker 6: and there is. The alternative strategy is to go for
34:27
Speaker 6: growth in Australia without creating inflation, without creating you know,
34:31
Speaker 6: sort of the increase in interest rates that this government
34:34
Speaker 6: is now characterized by and which last night's budget did
34:38
Speaker 6: nothing to help. I mean, David Pearl really nailed it
34:40
Speaker 6: earlier by saying, you know that the Treasurer had one job,
34:43
Speaker 6: and that was to cut spending and to cut genuine
34:46
Speaker 6: spending out to try and take pressure off the Reserve Bank.
34:48
Speaker 6: It didn't do it, and so as a result now
34:51
Speaker 6: the moves it's made are really going to be counterproductive.
34:55
Speaker 6: The only other thing they can do is slow the
34:57
Speaker 6: economy down close to recession. That's what the result Bank's
35:00
Speaker 6: base case seems to be. The Treasury base case quite different,
35:05
Speaker 6: much more optimistic. So that budget last night was based
35:09
Speaker 6: on very much more optimistic figures from Treasury as compared
35:12
Speaker 6: with the Reserve Bank numbers. And there is a fundamental
35:16
Speaker 6: imbalance in our society right now when the two major
35:19
Speaker 6: agencies have such a different view on the outlook of
35:23
Speaker 6: our economy.
35:24
Speaker 1: So that's one issue.
35:25
Speaker 6: The second thing is about where is the growth? Where
35:28
Speaker 6: is the aspiration? Now this was supposed to be an
35:31
Speaker 6: ambitious budget to help young people, Well you've actually just
35:34
Speaker 6: taken that aspiration to grow wealth in the same way
35:38
Speaker 6: that their parents grew wells by simply either a whacking
35:42
Speaker 6: them with a much much higher capital gains tax and
35:45
Speaker 6: will be taking away the ability to negatively gear homes
35:49
Speaker 6: which parents, grandparents and beyond that had As I said
35:53
Speaker 6: this morning, at one stage the national sport of Australia
35:56
Speaker 6: might think is cricket or football.
35:57
Speaker 1: It's not.
35:58
Speaker 6: It's negative gearing. And so that's where this will hurt
36:01
Speaker 6: Australian families. They'll feel very strongly about this. But I'm
36:06
Speaker 6: just going to sense maybe the opposition really doesn't have
36:08
Speaker 6: the power and the horse power this stage to really
36:11
Speaker 6: fight the game against them.
36:13
Speaker 2: No, well, please tell me don't that's not true, because
36:16
Speaker 2: I really hope that they'll come out of the blocks
36:18
Speaker 2: tomorrow night, Thursday night. And I think, you know, a
36:21
Speaker 2: bit like was the case with Abbott, you have to
36:24
Speaker 2: really go at this hard in a very simple way
36:27
Speaker 2: to cut through for a number of months, and then
36:31
Speaker 2: I think make an assessment whether they'll get away with
36:33
Speaker 2: a lie. I hope they don't because beyond the economics
36:36
Speaker 2: of the lie, I think we're in a terrible situation
36:39
Speaker 2: in Australia. If you can get asked, as a prime
36:42
Speaker 2: minister has hundreds of times about something, you can rule
36:45
Speaker 2: it out to every journalist in the country and then
36:48
Speaker 2: go bugger it. You know I'm going to do it anyway.
36:51
Speaker 2: He was asked today, you know, are you going to
36:53
Speaker 2: start taxing the family home? You're going to do this,
36:55
Speaker 2: You're going to do that, and he's like, no, no, no, no,
36:57
Speaker 2: absolutely not no plans to do any of that. Will
37:00
Speaker 2: we can't trust you mate?
37:01
Speaker 6: Well, though, here's the thing, I think this is only
37:03
Speaker 6: the first stage. So if you say, for example, looked
37:05
Speaker 6: at Ken Henry today, who wrote the blueprint on tax
37:08
Speaker 6: and tax reform, and he was in favor of the
37:11
Speaker 6: taxes the government has done. So, in other words, try
37:14
Speaker 6: and shift the dial away from personal income tax because
37:18
Speaker 6: we have too much personal income tax shifted away to capital.
37:21
Speaker 1: But that's not where the real.
37:22
Speaker 6: Gains are to be made. The real gains to be
37:25
Speaker 6: made on taxing consumption, so that means a higher GST.
37:29
Speaker 6: So my sense of what happens is they sit and
37:32
Speaker 6: wait and see whether they get away with this, and
37:34
Speaker 6: then go again before the election and the promise there
37:37
Speaker 6: will be we've got they've got to try and structure
37:40
Speaker 6: this some way because do remember that the Productivity Commission
37:43
Speaker 6: has already put out a paper that the government lauded
37:47
Speaker 6: at the time which would tax the revenue of companies.
37:51
Speaker 1: So if Woolworths makes.
37:52
Speaker 6: I don't know, forty billion dollars revenue per year, their
37:55
Speaker 6: tax would be what's that, ten percent of that of
37:58
Speaker 6: before two billion dollars in sales tax.
38:01
Speaker 1: So, in other words, on consumption.
38:03
Speaker 6: They can't do it through the GST because that money
38:05
Speaker 6: would go to the states. So they've got to be
38:08
Speaker 6: able to keep this and as a result of if
38:10
Speaker 6: they can get away with that, right and again they're
38:13
Speaker 6: not ruling anything in all out they'll be able to
38:15
Speaker 6: deliver significant personal income tax cuts going to the next election.
38:20
Speaker 6: And I've got a sense that this is not the
38:23
Speaker 6: beginning of their so called tax changes. This is the
38:26
Speaker 6: genuine beginning. There's more to come after this as well.
38:30
Speaker 2: I would agree with you on that because Jim Chalmers,
38:32
Speaker 2: of course was the CEO, the chief of staff big
38:35
Speaker 2: your pardon, the chief of staff to Wayne Swann when
38:37
Speaker 2: the whole Henry tax review was done. It looks like
38:42
Speaker 2: there's double taxation in trusts that will be born out,
38:45
Speaker 2: I think when we get into the detail. Yes, And
38:48
Speaker 2: it also looks like in terms of CGT ross. You know,
38:52
Speaker 2: a young entrepreneur in Australia, they'll go to Singapore or
38:56
Speaker 2: indeed even New Zealand go course will because it's strange.
39:00
Speaker 2: The arrangements is so much better that yeah, okay, all right,
39:03
Speaker 2: I'm going to keep talking about this.
39:05
Speaker 1: Can I get one last thing? The trust really important?
39:08
Speaker 6: The thing on the trust really important because so many
39:11
Speaker 6: farming families have got this and even though primary income.
39:15
Speaker 1: Is excluded from that. Here's a little chart.
39:18
Speaker 6: I drew this myself today and got it drawn up
39:20
Speaker 6: a bit. So if you have a trust coming out
39:22
Speaker 6: thirty percent tax on the trust. That's the new thing.
39:25
Speaker 6: But you have a company that's a beneficiary, goes down
39:28
Speaker 6: to that, it gets taxed at twenty one percent, right,
39:31
Speaker 6: thirty percent tax company tax rate. It goes down to
39:34
Speaker 6: a shareholder, there's a dividend inputation and dividend goes down there.
39:38
Speaker 6: There's still another eleven point nine percent. Get this the
39:41
Speaker 6: top tax rate on that company going through their sixty
39:44
Speaker 6: two point nine percent.
39:45
Speaker 1: Tell me that that is a good thing.
39:47
Speaker 6: That's why right now, farming families, families that have businesses
39:52
Speaker 6: and investments through trust. There's a million of them in Australia.
39:56
Speaker 6: That's the reason why they're panicking. And they've got now
39:59
Speaker 6: two years change their structures otherwise they'll get hit with
40:03
Speaker 6: that tax.
40:05
Speaker 2: Ross green wad. You're good. You can draw as well,
40:07
Speaker 2: but you're good. Okay, talk to you again.
40:10
Speaker 1: It all right?
40:12
Speaker 2: Budget papers thirty two billion in there for public service wages,
40:16
Speaker 2: the hit on our soldiers and the cut to veterans
40:20
Speaker 2: after the break, all right, the spin and the cell
40:27
Speaker 2: of the budget. The government of course trying to convince
40:30
Speaker 2: Australians what they're doing is good. But there are plenty
40:34
Speaker 2: of press gallery veterans there today during the treasure of
40:38
Speaker 2: speech to the National Press Club, who were not going
40:41
Speaker 2: to get let him get away with the lie.
40:44
Speaker 12: A lot of people were compelled to vote for the
40:47
Speaker 12: Albanza government in twenty twenty two and to get in
40:50
Speaker 12: twenty twenty five because of that promise of openness and
40:54
Speaker 12: accountability and integrity. You will be a different government. These
40:58
Speaker 12: are people who heard ever a gst. They heard there
41:02
Speaker 12: will be no carbon tax, they heard no cuts to
41:05
Speaker 12: the ABC, no cuts to the SBS, and then they
41:09
Speaker 12: heard an opposition to say we're going to be different
41:12
Speaker 12: one moose. Voters wake up this morning and say you're
41:15
Speaker 12: not different. You've just proved you're just another lying government.
41:21
Speaker 2: All right. My Budget panel joins me now One Nation
41:24
Speaker 2: Senator of New South Wales Sean and Bell and Queensland
41:27
Speaker 2: Liberal MP form a digger of course, Phil Thompson Jens,
41:31
Speaker 2: I'll start with you, Sean. You're going to get four
41:34
Speaker 2: dollars eighty though for the cost of the lie. Will
41:37
Speaker 2: that turn voters around?
41:41
Speaker 8: I don't think so, Peter. I mean what we've seen.
41:44
Speaker 8: When my staff came back from the budget lock up,
41:47
Speaker 8: I had to actually go and ask them, are you sure,
41:49
Speaker 8: because what was delivered was so absurd it actually beggars belief.
41:53
Speaker 8: You've got a budget where they're promising that inflation will
41:55
Speaker 8: go up. They've got a budget where they're promising rents
41:57
Speaker 8: will go up. They've got a budget that's going to
41:59
Speaker 8: do a huge amount of damage to everyday Australians. Nothing
42:02
Speaker 8: to pay down the debt, and then you talk about
42:05
Speaker 8: the big lie. This is just a classic labor big lie.
42:08
Speaker 8: They lied about bringing down energy prices, they lied about
42:11
Speaker 8: holding up the Medicare card that'll get you a free
42:13
Speaker 8: GP visit, and they lied when they said fifty times
42:16
Speaker 8: they would not change capital gains tax or negative gearing.
42:20
Speaker 8: I reckon. They've reached the point where Australians are not
42:23
Speaker 8: going to buy the lie anymore.
42:26
Speaker 1: Phil.
42:27
Speaker 2: I've got to go to some other stuff in there,
42:28
Speaker 2: given your time in the uniform. In the budget, there
42:32
Speaker 2: is six hundred million dollars for a counter terrorism new
42:37
Speaker 2: online one stop shop or some sort of thing. They
42:41
Speaker 2: call it online center. It's to deal and crack down
42:44
Speaker 2: on violent extremism, hate speech and terrorism. Sure, at the
42:49
Speaker 2: same time as they're bringing back these women these isis
42:52
Speaker 2: women from overseas, but there's also another forty three million
42:56
Speaker 2: on top of the three hundred and fifty million already
43:00
Speaker 2: on Brereton to hound our soldiers with more inquiries. We're
43:06
Speaker 2: not fed income here.
43:09
Speaker 14: No, And we also saw cuts to the Invictor's Games Australia.
43:14
Speaker 14: Many veterans have reached out to me and are quite
43:17
Speaker 14: upset that this sporting event that brings wounded engine ill
43:21
Speaker 14: together to go and compete in adaptive sports around the world,
43:25
Speaker 14: which I've also competed in. And I've seen young soldiers, sailors
43:29
Speaker 14: and m and including myself that we're in pretty bad
43:32
Speaker 14: times get pulled out of that dark hole because of it.
43:35
Speaker 14: I've also now seen that in a year's time there
43:39
Speaker 14: will be a five thousand dollars per veter and a
43:42
Speaker 14: year cap on services like OT and allaied Health. It
43:46
Speaker 14: just simply won't cut it. And then on top of
43:48
Speaker 14: this you've got the Breitra reports and the OSI and.
43:53
Speaker 2: The extra funding there.
43:55
Speaker 14: You've got to be careful with current proceedings in play.
44:00
Speaker 14: But you know, veterans have been reached out to me.
44:02
Speaker 14: They're not happy to see this. They don't want to
44:04
Speaker 14: see this funding put in there.
44:05
Speaker 2: John. You know a lot of ordinary people that don't
44:08
Speaker 2: play the stock market. You know, if they're lucky to
44:10
Speaker 2: get a bit of overtime, they try and put something away.
44:13
Speaker 2: Buying a flat or a modest house as an investment
44:17
Speaker 2: property adds to the rental stock as you know, but
44:20
Speaker 2: it's their nest digg. It's about all they've got to
44:22
Speaker 2: add to their retirement pull. And of course we know
44:25
Speaker 2: that seventy percent of people own one property, and most
44:28
Speaker 2: of them, the vast majority, two out of three, are
44:31
Speaker 2: earning below average wages, so less than eighty thousand dollars
44:35
Speaker 2: a year. They're the ones that are wiped out by this,
44:39
Speaker 2: but also all the young ones who aspired to get
44:42
Speaker 2: themselves a flat like their mum and dad, because they've
44:45
Speaker 2: seen that's how they grow wealth in their family. This
44:48
Speaker 2: will force people into industry super funds and everything that
44:52
Speaker 2: makes labor in the Union's rich, won't it. Yeah, one
44:57
Speaker 2: hundred percent correct.
44:59
Speaker 8: What labors done and is essentially wipe out any competition
45:03
Speaker 8: for their pet chosen vehicles. You know, they'd rather that
45:05
Speaker 8: money be going into Cebus super where you know, Wayne
45:09
Speaker 8: Swan is the president, then it would be going into
45:12
Speaker 8: the pockets of their own people's own investments. You know,
45:16
Speaker 8: they talk about this is a tax on wealth, not workers.
45:20
Speaker 8: Well I'm sorry, but a nurse who is saved up
45:23
Speaker 8: to buy an investment property. That's a person who's worked.
45:26
Speaker 8: A person who's saved up started a small business, maybe
45:30
Speaker 8: it's a lawn mowing business, and they've put money in
45:32
Speaker 8: time and effort and blood and sweat and tears to
45:34
Speaker 8: make that asset valuable and they've just had a huge,
45:37
Speaker 8: great whopping tax whacked on that. And you'll find that
45:40
Speaker 8: they taught And it's actually quite laughable. When they talk
45:42
Speaker 8: about addressing generational inequality, well, the tax concessions that have
45:46
Speaker 8: been advantaged to the other generation of now being stripped
45:48
Speaker 8: away from young people. It's young people who are going
45:51
Speaker 8: to be hurt the worst. And when labor start talking
45:54
Speaker 8: about handing some money back, will they know that that
45:56
Speaker 8: money is going to be snatched up straight away by
45:59
Speaker 8: interests and bracket creep. So it's an absolute joke.
46:04
Speaker 2: My political advice. So fellas I've seen this before with
46:07
Speaker 2: labor eyes, you have to go at it every single
46:09
Speaker 2: day to make the points you make in with me tonight.
46:12
Speaker 2: So let's see if you can do it. Thank you both.
46:14
Speaker 2: Right after break, Kell Richards with some budget related words.
46:22
Speaker 2: All right, joining me as he does every Wednesday, my
46:25
Speaker 2: good friend, the broadcaster, the wordsmith, Kel Richards, Kell. We're
46:30
Speaker 2: going to focus on a bit of budget stuff today,
46:33
Speaker 2: budget words, budget language. This one's interesting. Equity versus equality now,
46:39
Speaker 2: I will say, in law school, there's a whole branch
46:43
Speaker 2: of law called equity law. So I'm very interested in
46:46
Speaker 2: this sort of the general definitional difference here.
46:50
Speaker 7: The interesting thing, Peter, is that in political discourse, and
46:54
Speaker 7: only in political discourse, the meaning of these two words
46:57
Speaker 7: has reversed in the past one hundred years. Roughly. In law,
47:02
Speaker 7: equity still means fairness. But if you go back historically,
47:05
Speaker 7: in English, equality meant fairness, equity meant equality meant sameness,
47:11
Speaker 7: equity meant fairness. Right now, those two meanings have reversed,
47:15
Speaker 7: and in political discourse for a whole lot of reasons,
47:18
Speaker 7: equality is now used to mean fairness and equity is
47:21
Speaker 7: used to mean sameness. So equity policies are aimed at
47:24
Speaker 7: producing the same result for everyone. That's what equity now means.
47:29
Speaker 7: Can I illustrated by taking the as an illustration and
47:33
Speaker 7: athletics event at the Olympics, there's lots of equality, and
47:35
Speaker 7: there's no equity. Because everyone starts on the starter's pistol
47:39
Speaker 7: and runs to the same distance. They've got equal opportunity,
47:43
Speaker 7: but there's no equity. There's only one winner, and there's
47:46
Speaker 7: one silver medal and one bronze medal, and the rest
47:48
Speaker 7: of them don't get a place. There's no equity. There's
47:51
Speaker 7: lots of equality, equality of opportunity, not equity of outcome
47:56
Speaker 7: the opposite. The way we produce equity would be to
47:58
Speaker 7: drag everyone back, the fastest runners to the level of
48:01
Speaker 7: the slowest runners. And that's what every equity policy put
48:05
Speaker 7: up by every socialist government aims to do. To drag
48:08
Speaker 7: everyone back to the level of the lowest and slowest
48:11
Speaker 7: and to produce the same outcome for everyone. That's how
48:14
Speaker 7: equity is now being used in political discourse. Does that
48:18
Speaker 7: make any sense, Peter, it does have.
48:21
Speaker 2: We got time for why there is a silent b.
48:24
Speaker 7: In debt wasn't originally Originally it was spelled de double
48:29
Speaker 7: t the way we say it, and that survived for
48:31
Speaker 7: two hundred and fifty years, and then a clever clog's discovered,
48:34
Speaker 7: Oh there's a Latin word in the background, oh dabitta
48:37
Speaker 7: debatam and they have bes in them. And in the
48:39
Speaker 7: early sixteen hundreds a bee was inserted to tell people
48:43
Speaker 7: it came from Latin. We never needed it and it
48:46
Speaker 7: was never a good idea.
48:49
Speaker 2: You're so good, Kel, thank you. We'll catch up with
48:51
Speaker 2: you next week. That's it for me tomorrow and night.
48:54
Speaker 2: I'm still going through the budget that were still more
48:56
Speaker 2: we work on tomorrow night. But I've got a big
48:58
Speaker 2: announcement between you tomorrow night, So join me up next.
49:01
Speaker 2: Andrew Bolt