Transcript

Sharri | 18 May · Sharri

0:01
Speaker 1: Why on Sky News this is Sharry.
0:07
Speaker 2: Good Evening Well, attacks on family trusts that amounts to
0:11
Speaker 2: an inheritance tax, a breach of trust with voters, and
0:15
Speaker 2: a tax package that will cost Australians seventy eight billion
0:18
Speaker 2: dollars over the next decade. It's no wonder that Angus
0:22
Speaker 2: Taylor has overtaken alban Easy as the preferred prime minister
0:26
Speaker 2: just three months into the job, according to Herold's Poll Today.
0:30
Speaker 2: And it's no wonder that the budget has been rated
0:32
Speaker 2: the worst for the economy since nineteen ninety three, according
0:36
Speaker 2: to Newspoll. And the very voters the Albanezi government is
0:40
Speaker 2: trying to buy off the young are unconvinced that it
0:45
Speaker 2: all lower inflation or help them get into the housing market.
0:49
Speaker 2: The Australian reports that more than half of Australians expect
0:53
Speaker 2: to be personally worse off as a result of the budget,
0:56
Speaker 2: while just eleven percent expect to be better off. Sixty
1:00
Speaker 2: seven percent of people who own investment properties said they'd
1:03
Speaker 2: be worse off, and only ten percent of renters expect
1:06
Speaker 2: to be better off. Forty four percent believe they will
1:10
Speaker 2: be worse off, and sixty percent think the housing measures
1:15
Speaker 2: are a step in the wrong direction.
1:18
Speaker 3: Then there's the.
1:18
Speaker 2: Revelation that the taxes on trusts amount to an inheritance
1:22
Speaker 2: or death tax. Now, the Treasurer Jim Chalmers had initially
1:26
Speaker 2: claimed that people could set up testamentary trusts to avoid
1:30
Speaker 2: the tax.
1:32
Speaker 4: If people want to avoid paying the minimum tax in
1:35
Speaker 4: the future, they can still set up a fixed testamentary
1:39
Speaker 4: trust for that purpose.
1:42
Speaker 2: But then Anthony Albanesi said that inheritances dispersed through future
1:46
Speaker 2: discretionary trusts would be impacted by the tax hike.
1:52
Speaker 5: Is including testamentary discretionary trusts if the family trust reforms
1:55
Speaker 5: and inheritance.
1:56
Speaker 6: Tax by of the name.
1:58
Speaker 5: No, it's not, and it's there in the budget. In
2:00
Speaker 5: the budget papers make it very clear that existing trust
2:06
Speaker 5: arrangements for discretionary trust which are testamentary trusts, there's no
2:12
Speaker 5: change to those If those arrangements are in place in future,
2:16
Speaker 5: fixed trusts will again be exempt from taxation at the
2:22
Speaker 5: trust level going forward as well. So we've made that
2:25
Speaker 5: very clear.
2:27
Speaker 2: Yeah, not clear at all, because the budget actually confirms
2:30
Speaker 2: the following that testamentary discretionary trusts set up from July
2:34
Speaker 2: twenty twenty eight will be subject to the minimum thirty
2:38
Speaker 2: percent tax rate, and the headline on The Australian's editorial
2:43
Speaker 2: sums it up today. It says death duties by any
2:47
Speaker 2: other name would be as ugly. But this is complicated,
2:52
Speaker 2: and so government ministers were caught out trying to explain
2:55
Speaker 2: or deny death duties today.
2:58
Speaker 4: If you have a testament trust set up, will it
3:01
Speaker 4: be taxed more after July next year? Well, like I said,
3:07
Speaker 4: there's more than one type of testamentary trust. Now there's
3:10
Speaker 4: the discretionary ones and the fixed ones. But can I
3:13
Speaker 4: say if it's a discretionary one, you'll we tax more
3:15
Speaker 4: next real life? Yes, thirty percent on the discretionary ones,
3:21
Speaker 4: but now next you will. This is the reason we're
3:24
Speaker 4: doing this reason we're doing No, it's not because you
3:30
Speaker 4: can still have a fixed testamentary trust if you want to.
3:35
Speaker 2: Barnaby's face says it all well. As I first uncovered
3:39
Speaker 2: and reported, Alban Easy personally pushed for a death tax
3:43
Speaker 2: when he was Assistant General Secretary of New South Illes
3:46
Speaker 2: Labor in nineteen ninety one. He entered Parliament just five
3:49
Speaker 2: years later, and it seems he has finally found a
3:53
Speaker 2: sneaky way to deliver death duties.
3:56
Speaker 3: Through the back door of trust taxation.
4:00
Speaker 2: But the bottom line is this the government doesn't want
4:04
Speaker 2: hard working Australians to keep the money they've worked hard for.
4:09
Speaker 2: Jennifer Hewitt in The Financial Review puts it well when
4:12
Speaker 2: she writes the Keating, even before he became Federal Treasurer
4:16
Speaker 2: in eighty three, was obsessed with the need to grow
4:20
Speaker 2: the pie rather than what he dismissed as Labour's traditional
4:24
Speaker 2: focus on how to slice it up and Charmers along
4:28
Speaker 2: with Anthony Alberizi, has always been more focused on redistribution
4:32
Speaker 2: than growth, she writes, and they have an ideological bent.
4:37
Speaker 3: It seems against anyone who has.
4:39
Speaker 2: Worked hard enough to accumulate wealth or buy a house
4:43
Speaker 2: and god forbid have an investment property as well, because
4:46
Speaker 2: in their eyes, accumulating wealth is something to be punished,
4:52
Speaker 2: not celebrated or encouraged, and they've taken away the incentives
4:56
Speaker 2: or the latter for others to prosper and look at
5:01
Speaker 2: the disregard that they have for the money you pay
5:05
Speaker 2: in tax. It's revealed today that Australia's worst ever foreign minister,
5:11
Speaker 2: Penny Wong, spent more than eighty thousand dollars on a
5:15
Speaker 2: three day trip to Qatar and the United States in
5:18
Speaker 2: December eighty thousand on a three day trip, and Deputy
5:24
Speaker 2: Prime Minister Richard Miles spent joshi of one hundred thousand
5:27
Speaker 2: dollars on a seven day trip to Japan and the
5:30
Speaker 2: US in December. It seems he hasn't learned his lesson
5:34
Speaker 2: since twenty twenty three, when he spent three point six
5:38
Speaker 2: million dollars on.
5:40
Speaker 3: VIP flights in a year.
5:43
Speaker 2: It's not their money, their wastick, it's yours. Yet they
5:50
Speaker 2: wouldn't know it because they don't answer questions about it,
5:54
Speaker 2: not whether they flew business class, or where they stayed
5:57
Speaker 2: or how many staff members they needed to help them
6:01
Speaker 2: on that trip. And on top of this, Petty Wong
6:05
Speaker 2: spent nearly two hundred thousand dollars on domestic flights in
6:10
Speaker 2: the three month period covered in this latest travel report,
6:16
Speaker 2: and the spenderthon will only continue, with the Prime Minister
6:20
Speaker 2: sent to fly to the United Nations to receive a
6:23
Speaker 2: Global Citizen award. The Herald reports he's being awarded for
6:28
Speaker 2: I'm not joking inspirational leadership of Australia, his commitment to
6:34
Speaker 2: strengthening the ORCAST partnership and Indo Pacific security cooperation. Also
6:39
Speaker 2: his efforts to expound Australia's engagement across Southeast Asia and
6:43
Speaker 2: the Pacific. I'm sorry, but inspirational leadership his commitment to ORCUS.
6:51
Speaker 2: I mean, that's a global alliance that Scott Morrison set
6:55
Speaker 2: up that he should receive credit for. This is final.
7:01
Speaker 2: Albanzi is being awarded for his leadership during the very
7:06
Speaker 2: period his government's excessive spending triggered an inflation crisis that
7:12
Speaker 2: pushed up interest rates and meant we weren't in a
7:14
Speaker 2: position to handle the global oil shock unlike other developed nations.
7:20
Speaker 2: Also during a period in which antisemitism, social cohesion and
7:25
Speaker 2: terrorism became a major problem. That is not inspirational leadership.
7:30
Speaker 3: And this is a joke.
7:32
Speaker 2: And can you imagine how much of your money Albanizi
7:35
Speaker 2: will spend flying to New York to receive this award,
7:40
Speaker 2: and all the while he shamelessly refuses to apologize for
7:44
Speaker 2: breaking an election promise that will cost small businesses, middle
7:49
Speaker 2: income families and the elderly who want to leave their
7:53
Speaker 2: hard earned dollars behind for their children and grandchildren. The
7:58
Speaker 2: Prime Minister addresses these changes up as bold, ambitious reform,
8:04
Speaker 2: when in reality they're nothing more than a despicable tax grab.
8:10
Speaker 2: Perhaps the poll numbers today in both papers will be
8:13
Speaker 2: a wake up call that he should rethink these disastrous decisions.
8:23
Speaker 2: Okay for more on this, Joining me now, Sky News
8:26
Speaker 2: host James Morrow and former Liberal senator and now a
8:30
Speaker 2: new One Nation recruit, Holly Hughes. Great to see you both, Holly.
8:34
Speaker 2: We're going to get to your one Nation move in
8:36
Speaker 2: a moment. But James first, the reaction to the budget
8:39
Speaker 2: has been brutal, and now the public argument is whether
8:43
Speaker 2: or not this is a death tax, which in itself
8:46
Speaker 2: is a political killer.
8:47
Speaker 1: Well, it's a political killer, Sherry. And here's the thing.
8:51
Speaker 1: Even when you get away from all of this discussion
8:53
Speaker 1: around testamentary trusts and all of that sort of business,
8:56
Speaker 1: the bigger question is whether when they say we are
9:00
Speaker 1: not going to do further death taxes, which is a
9:03
Speaker 1: question that they've been asked, you know, a bigger inheritance
9:05
Speaker 1: tax on whatever you're handing over, whether it's in or
9:08
Speaker 1: not in a testamentary trust. It's been a tongue twister there.
9:13
Speaker 1: We can believe them and this whole thing that they
9:15
Speaker 1: have set up. Now, well, the position has changed, and
9:18
Speaker 1: we're not taking it to an election. We're just saying
9:21
Speaker 1: it's changed. The position has changed, so therefore we cannot
9:25
Speaker 1: trust him. This budget I think has been an absolute
9:28
Speaker 1: disaster for them. I think they spent far too much
9:30
Speaker 1: time in various sort of millennial corners of the internet,
9:34
Speaker 1: listening to various sort of lefty influencers and lobby groups,
9:38
Speaker 1: thinking that this was going to win them a lot
9:40
Speaker 1: of support with people. And you know, I have been
9:42
Speaker 1: absolutely amazed, not amazed, but actually really heartened by the
9:45
Speaker 1: number of people I've been out seeing all over the
9:48
Speaker 1: in neet saying Hey, welcome to my new business partner,
9:51
Speaker 1: Anthony ALBANIZI. He's my silent partner. He doesn't help, you know,
9:56
Speaker 1: pull beers at the public Holly's Pub. He doesn't help,
9:59
Speaker 1: you know, do all this. He's the business here, but
10:01
Speaker 1: he does trowser forty seven percent of.
10:04
Speaker 2: What we be takes half of the profits. Yeah, isn't
10:07
Speaker 2: it funny, James, I just get to you right now, Holly.
10:09
Speaker 2: But isn't it funny how they say this is a
10:12
Speaker 2: major broken promise, right, but they say.
10:14
Speaker 3: Oh, we're being upfront we're.
10:16
Speaker 2: Telling you we've made a different No, you're not being upfront.
10:18
Speaker 2: It's the complete opposite of what you're being holy. The
10:21
Speaker 2: capital gains tax changes in particular will impact on small
10:26
Speaker 2: businesses across Australia when they decide to sell, and even
10:30
Speaker 2: if they can defer the gain, they do ultimately have
10:32
Speaker 2: to pay it.
10:33
Speaker 3: It will impact.
10:34
Speaker 2: Businesses like yours if you decided to sell your pup.
10:38
Speaker 7: But absolutely it's absolutely killing the entrepreneurial spirit that we
10:42
Speaker 7: should be encouraging in this country.
10:44
Speaker 6: It's just effectively ended at the.
10:46
Speaker 7: Startup community in our country because there is no way
10:50
Speaker 7: you would build a business and build it from scratch
10:54
Speaker 7: and invest your own capital to then the government put
10:57
Speaker 7: its hand in it in your pocket. And reality is
11:00
Speaker 7: I mean I got in trouble a few years ago
11:02
Speaker 7: where I say trouble, but I got a great insider's
11:05
Speaker 7: cartoon when I referred to teachers basically teaching a Marxist ideology.
11:10
Speaker 6: But the reality this is a Marxist government.
11:13
Speaker 7: They want everyone relignment, relying on government jobs, on government payout,
11:19
Speaker 7: absolutely nothing to do with an entrepreneurial spirit or growing
11:22
Speaker 7: and productivity of the Australian economy. It is about people
11:26
Speaker 7: being reliant on government. They want a socialist, if not
11:30
Speaker 7: communist agender.
11:32
Speaker 2: All right, Holly, I want to turn to your big news.
11:34
Speaker 2: You have announced that you're joining One Nation. Look, not
11:38
Speaker 2: everyone was complimentary about it. Have a look at Angus Taylor.
11:45
Speaker 3: Oh that's their choice.
11:46
Speaker 8: I mean. But look, I'll tell you what we're going
11:48
Speaker 8: to be doing, Andrew.
11:49
Speaker 4: We've got small business people in this country deeply.
11:51
Speaker 8: Upset of what this labor government is doing.
11:54
Speaker 9: We're going to be talking to those people and saying
11:56
Speaker 9: join up to the Liberal Party, get involved, support us.
12:01
Speaker 3: So Holly, are you going to run? Well it set
12:05
Speaker 3: of I'm asking you the question.
12:07
Speaker 2: Are you going to run for One Nation in the
12:10
Speaker 2: Senate or a lower House seat?
12:12
Speaker 8: Is that?
12:12
Speaker 3: Is that your ultimate plan?
12:14
Speaker 6: Look, I'm being completely honest with you.
12:16
Speaker 7: I've done a number of media interviews today and yesterday
12:20
Speaker 7: Step one was joining the party. There's been no decision
12:23
Speaker 7: made whatsoever. As we've been talking about. I bought the
12:26
Speaker 7: pub seven months ago. There is no immediate decision or
12:29
Speaker 7: announcement going to be made, and if there was, we
12:31
Speaker 7: would have made it on Sunday night.
12:34
Speaker 2: Is the truth is you didn't want to leave politics.
12:37
Speaker 2: The Liberal Party forced you out, So your political career
12:40
Speaker 2: isn't over.
12:41
Speaker 3: You still want to contribute more.
12:43
Speaker 6: Oh look I had what have I had?
12:45
Speaker 7: Now nearly a year out and I've seen the blue sky,
12:50
Speaker 7: I've bought a business, I'm doing some amazing and really
12:53
Speaker 7: fun things.
12:54
Speaker 6: But I also see how.
12:56
Speaker 7: So many in our community is struggling, and particularly in
12:59
Speaker 7: the area that I live, we're part of one of
13:01
Speaker 7: these red zones where we're being forced to consider imposed
13:06
Speaker 7: upon us wind turbines that double the size that they
13:10
Speaker 7: currently are. They want to shut down, like lyle for
13:13
Speaker 7: pumped Hydro, which is one of the biggest jurist attractions
13:16
Speaker 7: in the Lico regions.
13:19
Speaker 2: Yeah, so you ultimately you would like to reenter politics
13:23
Speaker 2: for one.
13:24
Speaker 6: Look, I'm not ruling anything in. I'm not ruling anything out.
13:26
Speaker 6: But if I do stand, it will be with Pauline.
13:29
Speaker 6: It will be with One.
13:30
Speaker 7: Nation, because I honestly believe that is now the party
13:34
Speaker 7: that stands up for Australians, that understands what everyday Australians,
13:39
Speaker 7: particularly small business owners, are going through.
13:43
Speaker 6: I cannot get over that. Matt Canavan came out last
13:46
Speaker 6: night and.
13:47
Speaker 7: Said that I had left the Liberal Party because I
13:49
Speaker 7: supported net zero. I mean, if you want to talk
13:52
Speaker 7: about trumpy and fake news, I mean I am documented
13:56
Speaker 7: all over the place, including the hands are before I
13:59
Speaker 7: left being criticized for supporting Susan Lae. Susan Lae was
14:02
Speaker 7: the Liberal leader who walked away from net zero, and
14:05
Speaker 7: I supported that.
14:07
Speaker 6: Okay, you know, I knew they were going to be sneezed.
14:09
Speaker 7: But the fact that completely disputable lies are being told
14:13
Speaker 7: shows just how nervous these guys are.
14:15
Speaker 3: I mean, this is just James.
14:17
Speaker 2: It builds to the momentum that Pauline Hanson has.
14:20
Speaker 1: It does build to the momentum Pauline has, as we've
14:23
Speaker 1: seen it again in the polls. And I saw a
14:25
Speaker 1: really interesting analysis today which suggested that the trajectory that
14:31
Speaker 1: one nation is following in the you know, preferred stakes
14:35
Speaker 1: is following a very similar trajectory that the Voice and
14:39
Speaker 1: that the No vote campaign followed along along the way. There.
14:43
Speaker 1: It is, you know, tough for the Liberal Party now
14:46
Speaker 1: to cut cut through because I think the mood out
14:49
Speaker 1: there is now so tired of what the Liberals have
14:52
Speaker 1: had on off because they've been on both sides of
14:54
Speaker 1: net zero. They've been on both sides of a lot
14:57
Speaker 1: of issues. And the one thing that I think they
14:59
Speaker 1: get out of one nation is that sort of authenticity.
15:03
Speaker 1: And that's well, I think there's so much murder. I
15:05
Speaker 1: will say that I think the Liberals had a good
15:07
Speaker 1: week last week. I think Augus Taylor had a very
15:09
Speaker 1: good week with the reply and you know the budget,
15:12
Speaker 1: and we're now starting to see and it could wind
15:14
Speaker 1: up now being a three way contest or four way
15:17
Speaker 1: contest of ideas, which I think would be fantastic.
15:20
Speaker 2: I mean, he did have a good week, and I
15:22
Speaker 2: think it says a lot that just three months in
15:25
Speaker 2: to being opposition leader he's overtaken Albinizi as preferred prime minister.
15:29
Speaker 2: But I would say and I do think he did
15:31
Speaker 2: well in his budget apply speech. But I will say
15:34
Speaker 2: that I think for the majority of that outcome it
15:37
Speaker 2: is because of the disastrous budget. Well that's you know,
15:39
Speaker 2: political parties toned voters off. It's very hard for a
15:42
Speaker 2: position to win voters over.
15:44
Speaker 1: Well, that's the thing. I mean, that budget was such
15:46
Speaker 1: a dog's breakfast. To use the most polite dog tourm
15:49
Speaker 1: I can use about what was handed down on Tuesday night,
15:52
Speaker 1: that it would be a surprise if the collision didn't
15:55
Speaker 1: dwell off of that.
15:56
Speaker 3: Well, speaking of dogs, James Morrow, yes.
15:59
Speaker 1: See, I'm a great dog owner, as you know, well, fabulous.
16:04
Speaker 6: At any given moment.
16:07
Speaker 3: Let's turn.
16:08
Speaker 2: Let's return to this disgraceful story in the New York
16:11
Speaker 2: Times last week.
16:12
Speaker 3: We're writer Nicolas Christoph.
16:14
Speaker 2: As you know by now, claimed that Israel was training
16:17
Speaker 2: dogs to rape Palestinians. It's a hideous lie that should
16:22
Speaker 2: never have been published. And now there's a legal action
16:25
Speaker 2: by Israeli Prime Minister against Benjamin Ettia, who against the
16:28
Speaker 2: New York Times.
16:29
Speaker 3: He says they'll sue.
16:31
Speaker 2: Now, James, really interesting history of the New York Times here,
16:36
Speaker 2: And you say, this is hardly a first. This is publication,
16:40
Speaker 2: and they've got a long history of quite disgraceful conduct.
16:43
Speaker 8: Yeah.
16:43
Speaker 1: Look, I mean, and we talked about this over the weekend, Sherry,
16:47
Speaker 1: when this story came out, and we were talking about it,
16:49
Speaker 1: and I said, this reminds me of nothing so much
16:52
Speaker 1: as what happened in the nineteen twenties and nineteen thirties.
16:55
Speaker 1: The New York Times had a man named Walter Duranti,
16:59
Speaker 1: and he was their mask bureau chief and this was
17:01
Speaker 1: during the time of Stalin and the purges and the
17:05
Speaker 1: forced famine in Ukraine as they collectivised all the farms there,
17:09
Speaker 1: and Duranty disgracefully went and said, look, people are hungry,
17:14
Speaker 1: but they're not starving. Stalin is getting it done. The
17:17
Speaker 1: Soviet Union, this new system is you know, quite heroic
17:20
Speaker 1: and all of this. And he was basically propagandizing for
17:24
Speaker 1: Stalin and for the Communist Party. Guess what he won
17:26
Speaker 1: for that a Pulitzer Prize, which is like, you know,
17:29
Speaker 1: walk away on steroids. But this was one of a
17:33
Speaker 1: million examples you can point to of the New York
17:35
Speaker 1: Times following the dominant lefty narrative. Back then, everybody on
17:39
Speaker 1: the left and all the respectable people loved Stalin. They
17:42
Speaker 1: thought he was doing a great job. Of course, he
17:44
Speaker 1: was a disaster. We saw this. But recently, I think
17:47
Speaker 1: during the Black Lives Matter riots. You know, remember when
17:50
Speaker 1: Tom Cotton, the American legislator, wrote an up ed saying,
17:54
Speaker 1: quite reasonably, maybe we should call out the National Guard
17:57
Speaker 1: for this, and they fired the opinion editor who ran
18:00
Speaker 1: the piece because this was apparently beyond the pal So
18:03
Speaker 1: the New York Times is a long history of I
18:05
Speaker 1: think disgraceful journalism trying to support whatever the dominant mainstream
18:10
Speaker 1: lefty narrative of the day is. But because they're so
18:12
Speaker 1: big and powerful, it has much much bigger effects than
18:16
Speaker 1: any other outlet.
18:18
Speaker 3: It's so true, Holly.
18:19
Speaker 2: I mean, the New York Times is a more egregious case,
18:24
Speaker 2: but we see similar conduct to a lesser extent from
18:28
Speaker 2: the left wing publications in Australia toward Israel.
18:31
Speaker 7: Oh absolutely, And I mean, you know, people like the
18:34
Speaker 7: three of us would read multiple news papers a day
18:38
Speaker 7: and news science and look at a whole lot of areas.
18:43
Speaker 7: If you get your news only from the AVC or
18:47
Speaker 7: the Cydney Morning Herald or the Age, you are not
18:50
Speaker 7: getting the whole story.
18:52
Speaker 6: It is just absolutely disgraceful.
18:55
Speaker 7: The way that they run such an anti Zionist, anti
18:59
Speaker 7: Israel it's just extraordinary. And the fact that they allow
19:03
Speaker 7: claims Ladies and the BBC's in exactly the same boat
19:07
Speaker 7: run these claims without any counter narrative is I mean,
19:12
Speaker 7: the problem is, I think Shari is it's becoming so expected,
19:15
Speaker 7: it's becoming so almost mainstream, and what people just get
19:20
Speaker 7: from these guys is anti Israel, anti Zionism, sentiment and
19:24
Speaker 7: it's just seeping into the cultural narrative.
19:28
Speaker 3: Yeah, and it's the same.
19:29
Speaker 2: It's worse permeates writers festivals, and the issue is that
19:33
Speaker 2: it actually exacerbates the anti Semitism crisis. Just quickly, before
19:38
Speaker 2: we go, this new documentary called Silenced, which features Britney
19:42
Speaker 2: Higgins case. It's about to premiere at the Sydney Film Festival.
19:46
Speaker 2: But the film supposedly explores how defamation your law is
19:50
Speaker 2: being weaponized to silence women from speaking out about their experiences. Now,
19:56
Speaker 2: the ABC has provided three hundred and forty thous.
20:00
Speaker 3: Dollars towards this project.
20:03
Speaker 2: Now, James, given where the Higgins case has enter up,
20:08
Speaker 2: Linda Reynolds has won defamation suits, it's pretty extraordinary that
20:12
Speaker 2: the ABC is funding this.
20:14
Speaker 1: It's pretty extraordinary that the ABC funds a lot of things, Sherry,
20:17
Speaker 1: but yes, it is. It is quite shocking that they're
20:20
Speaker 1: writing a big check out of our money, by the way,
20:23
Speaker 1: to fund this when we know how everything worked out
20:28
Speaker 1: with Linda Reynolds, that if there's any woman here who
20:31
Speaker 1: had been wronged, it was her.
20:34
Speaker 3: Yeah, yeah, exactly, exactly.
20:36
Speaker 2: Just a very quick one, James, sorry about this, hotly
20:39
Speaker 2: bit very quick one. James I was fascinated and you know,
20:42
Speaker 2: you host the US Report on Sky News, really fascinated
20:46
Speaker 2: by this one eighty that Trump has done in terms
20:49
Speaker 2: of foreign policy towards China.
20:52
Speaker 3: We saw this very.
20:53
Speaker 2: Cozy meeting a few days ago with Chinese President Shijing Ping,
20:57
Speaker 2: and people just seem to have gone, oh, yeah, they've met,
21:00
Speaker 2: that's it, and not really taken into account the extraordinary
21:04
Speaker 2: shift in an attitude towards China from Trump in the
21:07
Speaker 2: first administration when Mike Pompeia was Secretary of State.
21:10
Speaker 1: Well, it's really interesting because when you go back to
21:12
Speaker 1: when Mike Pompeia was Secretary of State, China really was
21:15
Speaker 1: in a much more ascended position. You know, they were
21:17
Speaker 1: doing the Belton Road, they were building islands all over
21:20
Speaker 1: the place. Their economy was growing at a much faster pace.
21:23
Speaker 1: Now today China is actually in a much weaker position.
21:26
Speaker 1: Economic growth is down around five percent, which is practically
21:28
Speaker 1: recession for them. They've had a property market crash and
21:32
Speaker 1: the whole Belton Road scheme that's all but fallen over.
21:35
Speaker 1: So they are actually not achieving the things that they
21:39
Speaker 1: wanted to. So they come into this needing to make deals.
21:42
Speaker 1: Into the last few hours, we've had news of deals
21:44
Speaker 1: about buying a couple of hundred Boeing planes, doing seventeen
21:47
Speaker 1: billion dollars worth of agriculture deals with American farmers. All
21:51
Speaker 1: of this was about business, and I think ultimately what
21:53
Speaker 1: this comes down to, I think for Trump is trying
21:55
Speaker 1: to enmesh US and Chinese business interests again in such
21:59
Speaker 1: way to avoid military conflict of the sort that we're
22:03
Speaker 1: seeing in the streets of Vermilion.
22:04
Speaker 9: Man.
22:04
Speaker 2: Yeah, all right, James Morow, Holly Hughes, thank you both
22:08
Speaker 2: so much for joining me. We'll Former Vice Chancellor of
22:12
Speaker 2: the Australian Catholic University, Greg Craven has done an audit
22:16
Speaker 2: into how universities have responded to anti Semitism and he
22:20
Speaker 2: found that universities discounted dealing with it by using the
22:24
Speaker 2: excuse of academic freedom and freedom of speech. And joining
22:28
Speaker 2: me now to discuss as shadow Education Minister Jullian, Lisa, Jillian,
22:31
Speaker 2: good to see you.
22:32
Speaker 10: Could be with you, Sharry.
22:33
Speaker 2: Now, you've done a lot of work on this issue,
22:36
Speaker 2: even before it was in your portfolio. You've read Greg
22:40
Speaker 2: Craven's report.
22:41
Speaker 3: Does it alarm you?
22:43
Speaker 10: It does alarm you enormously. I think we've had a
22:45
Speaker 10: pathetic response from our universities. Not a single university in
22:48
Speaker 10: this country has adopted a definition of antisemitism, not one.
22:52
Speaker 10: Greg was supposed to look at four different matters to
22:55
Speaker 10: do with the universities, including their complaints procedure, but he's
22:58
Speaker 10: effectively given them three months to get their house in
23:00
Speaker 10: order or to look at tougher sanctions. And what he's
23:04
Speaker 10: found is that some universities effectively deny antisemitism is even
23:08
Speaker 10: a problem. He's found that other universities have said that
23:10
Speaker 10: they've adopted the definition to deal with antisemitism, but found
23:15
Speaker 10: it's actually of no useful affect in any of their policies.
23:19
Speaker 10: It's a shocking indictment this particular report, and it shows
23:22
Speaker 10: the weakness of leadership of our universities across the board.
23:25
Speaker 10: I've met about eighty percent of the vice chancellor since
23:27
Speaker 10: I've been in this job. I've asked each of them
23:29
Speaker 10: what they're doing in relation to the definitions, and they
23:32
Speaker 10: range from people who are enthusiastic and positive about doing
23:35
Speaker 10: something through to people who say, we don't have a
23:37
Speaker 10: Jewish problem here, why would we want to get this
23:39
Speaker 10: on board. So that's a shocking thing when I've heard it,
23:42
Speaker 10: and so I'm not surprised with Greg's report.
23:45
Speaker 2: That excuse as well separate from the definition issue, but
23:48
Speaker 2: that excuse using academic freedom and freedom of speech to
23:52
Speaker 2: avoid dealing with such a serious issue.
23:55
Speaker 3: Is a cop out.
23:56
Speaker 10: It's a complete cop out, and it says something seriously
23:59
Speaker 10: bad is happening on our university campuses. Universities are the
24:02
Speaker 10: places where people go to become leaders of the next generation.
24:06
Speaker 10: And if our leaders are being taught effectively that you
24:09
Speaker 10: effectively can't you can't even deal with anti Semitism because
24:13
Speaker 10: you can't find a definition of it. It's a terrible
24:15
Speaker 10: cop out and it says terrible things about where the
24:18
Speaker 10: future of our country's going.
24:20
Speaker 2: Just want to turn to another story. There's been new
24:22
Speaker 2: documents released under freedom of information. This is by the
24:26
Speaker 2: West Australian and The Nightly and I mean it goes
24:29
Speaker 2: through you remember after the Bond Aid terror attack, Anthony
24:32
Speaker 2: Alberinezi said, oh, we're not going to have a Royal
24:35
Speaker 2: commission because he's had all this advice from the experts,
24:38
Speaker 2: who says he.
24:38
Speaker 3: Doesn't need one.
24:39
Speaker 2: Well, these documents show that home Affairs and the Attorney
24:42
Speaker 2: General's Department made no recommendations at all about whether or
24:46
Speaker 2: not to hold a Royal commission. And then there's one
24:48
Speaker 2: key document that has been completely.
24:51
Speaker 3: Redacted or kept secret.
24:53
Speaker 2: So is this potentially another misleading claim from the Prime
24:57
Speaker 2: Minister that his experts told him not to have a
24:59
Speaker 2: royal commission.
25:00
Speaker 10: I think Anthony Albanez he can't help himself. He's just
25:02
Speaker 10: addicted to lying, and he lied repeatedly about the Royal
25:05
Speaker 10: Commission after it was very plain that he didn't want it.
25:08
Speaker 10: He then said I planned to do it all along.
25:10
Speaker 8: Which is just rubbish.
25:11
Speaker 10: And these documents further demonstrate, you know that he has
25:15
Speaker 10: a real difficulty with telling the truth, as we saw
25:17
Speaker 10: from the budget last week.
25:19
Speaker 2: Well, you guys, as when I say you guys mean
25:20
Speaker 2: the Coalition front bench in the lower House, you've actually
25:23
Speaker 2: been stopped from calling him a liar. I noticed in
25:26
Speaker 2: Parliament last week by the Speaker.
25:28
Speaker 8: That's right.
25:29
Speaker 10: I mean parliamentary rules stop us from using the term
25:32
Speaker 10: liar and calling a personal liar. Previously you could call
25:35
Speaker 10: parties parties liars, but the Speaker has decided to say
25:39
Speaker 10: we can't even do that. So we've had to use
25:41
Speaker 10: all sorts of other synonyms, and if your viewers have
25:44
Speaker 10: more synonyms to suggest to us, maybe even an albow
25:47
Speaker 10: will become a liar. Have you told another albow today?
25:49
Speaker 6: Albo?
25:50
Speaker 3: So you've used untruthed.
25:52
Speaker 8: Untruthed, misled, deceived, you know every other word.
25:57
Speaker 10: Ordinary Australians know that we're saying that the government has lied,
26:00
Speaker 10: that the Prime Minister has lied, and he just lies
26:02
Speaker 10: all the time.
26:03
Speaker 3: Yeah, we've seen many examples of it.
26:06
Speaker 2: News story in the Australian tonight, just off the back
26:08
Speaker 2: of what we were speaking about a moment ago with
26:11
Speaker 2: the issue with China, that Australian universities have collaborated on
26:15
Speaker 2: six thousand projects regarding weapons research with People's Liberation Army scientists.
26:23
Speaker 2: So this is in effect Australian research that's going towards
26:27
Speaker 2: China's military modernization.
26:29
Speaker 3: This is worrying.
26:30
Speaker 10: I think the universities haven't been taken the level of
26:33
Speaker 10: foreign interference and our foreign policy issues seriously enough in
26:36
Speaker 10: recent years. There's a task force that's been established to
26:39
Speaker 10: get the universities to look at these issues more seriously.
26:42
Speaker 10: But the fact that the Minister this week canceled thirteen
26:44
Speaker 10: projects on national security grounds, demonstrates that this is still
26:48
Speaker 10: a real problem that I think too many of our
26:49
Speaker 10: vice chancellors are ignoring.
26:52
Speaker 3: What do you think needs to be done here?
26:53
Speaker 2: I mean I did a lot of reporting on this
26:56
Speaker 2: about five or so years ago one thousand Talents program.
27:00
Speaker 2: At the time, the university said they were investigating and
27:02
Speaker 2: cracking down on it. But it seems if this report
27:05
Speaker 2: is true. But even if it's half of what this
27:07
Speaker 2: report claims that it still seems as a big issue.
27:11
Speaker 10: I think the Australian Research Council has tightened up its
27:14
Speaker 10: processes for giving grants. I think there needs to probably
27:16
Speaker 10: be a further tightening and the universities need to have
27:19
Speaker 10: much more clear guidelines as to what is acceptable and
27:22
Speaker 10: is not acceptable. And I think when you're collaborating with
27:26
Speaker 10: strategic adversaries that potentially could affect our national security, that
27:29
Speaker 10: should just be a red line.
27:31
Speaker 2: Just one final topic, there's news that you know that
27:35
Speaker 2: the Neo Nazi Socialist Party is looking at taking legal
27:39
Speaker 2: steps so that they can set themselves up as a
27:42
Speaker 2: political party.
27:43
Speaker 10: It's just extraordinary. I hope that the government strongly defends
27:46
Speaker 10: the laws that were passed at the beginning of this
27:48
Speaker 10: year that I was proud to support laws that sought
27:51
Speaker 10: the banning of noo Nazi organizations. They have no place
27:54
Speaker 10: in this country.
27:55
Speaker 2: We can't possibly have a Neo Nazi political party here.
27:58
Speaker 10: I think that would be extraordinarily damaging. You know, there
28:01
Speaker 10: are a million Australians that went to fight in World
28:03
Speaker 10: War Two. Forty thousand of them made the supreme sacrifice
28:06
Speaker 10: fighting against Nazi ideology. We are desecrating the memory of
28:10
Speaker 10: our brave Australian soldiers who fought against Nazism if we
28:13
Speaker 10: have a Nazi political party in this country.
28:15
Speaker 2: Absolutely and I had the same sentiment when we saw
28:17
Speaker 2: some of those neo Nazis booing at Anzac Day.
28:21
Speaker 3: I thought they shouldn't even be there.
28:22
Speaker 2: Absolutely completely wrong, Julian Lisa, thank you very much for
28:26
Speaker 2: being here.
28:27
Speaker 8: Thanks Harry.
28:28
Speaker 3: Right still to come.
28:29
Speaker 2: One of Australia's leading tech entrepreneurs is warning Australians to
28:33
Speaker 2: leave the country after Labour's budget. He'll be here in
28:37
Speaker 2: studio and the bombshell email from Ben Roberts Smith's mother,
28:41
Speaker 2: I'll show you what.
28:42
Speaker 3: She wrote about his arrest with Ray Hadley after the
28:46
Speaker 3: break welcome back.
28:50
Speaker 1: Ben.
28:51
Speaker 2: Robert Smith's mother has described the moment that federal police
28:55
Speaker 2: bordered a Quantus flight in Sydney and arrested her son
28:58
Speaker 2: in front of his fifteen year old twin daughters. She
29:01
Speaker 2: wrote that she received a phone call from Sarah who said,
29:05
Speaker 2: I'm in a police car.
29:06
Speaker 3: With the girls. Ben has been arrested.
29:09
Speaker 2: The girls are hysterical. She then said, we don't know
29:13
Speaker 2: where they are taking us.
29:16
Speaker 3: Sue Robert Smith.
29:17
Speaker 2: Also wrote, my understanding is that journalist Nick mackenzie was
29:21
Speaker 2: given her heads up before it happened. Why and the
29:26
Speaker 2: letter was reported today by the Daily Mail. And joining
29:28
Speaker 2: me now is radio legend Ray Hadley. Ray, You're in
29:31
Speaker 2: the Gold Coast the game this week, so we're missing
29:33
Speaker 2: you on set, but glad you're still here. Now this
29:36
Speaker 2: whole spectacle, people are very angry about it. It was
29:40
Speaker 2: a show for the media, wasn't it.
29:43
Speaker 9: Well, of course it was. I mean we said that
29:45
Speaker 9: at the time on this program. And it was fastical
29:49
Speaker 9: for anyone to suggest that the Sydney Morning Herald now
29:51
Speaker 9: known as Nine Newspapers didn't get a head start. Now,
29:54
Speaker 9: I'd never suggested the Commissioner, Christy Barrett would enlighten people
29:58
Speaker 9: from Fairfax newspapers, but someone her offers told Fairfax it
30:04
Speaker 9: was on nine newspapers, it was on now. It was
30:07
Speaker 9: also so disgraceful. This blake wasn't trying to scond. I mean,
30:11
Speaker 9: he was not going anywhere. And who actually board the
30:14
Speaker 9: aircraft in front of his twin daughters fifteen year old
30:18
Speaker 9: teenagers Lettle and his partner Sarah and then march him
30:21
Speaker 9: off like you know, he was being paraded like some
30:24
Speaker 9: sort of drug dealing thug who'd just come back from
30:27
Speaker 9: the Middle East.
30:27
Speaker 8: Was just absolutely disgraceful.
30:30
Speaker 3: And it makes it disgraceful.
30:31
Speaker 8: The man wasn't going anywhere.
30:34
Speaker 2: It makes it worse because he had twice in the
30:37
Speaker 2: past six months offered to voluntarily go to the police station.
30:43
Speaker 2: They chose not to take that option and instead to
30:47
Speaker 2: have this public spectacle and ray I note that the
30:49
Speaker 2: AFP Commissioner, Chrissy Barrett was asked at a press conference
30:53
Speaker 2: about the Isis brides, you know, a week and a
30:57
Speaker 2: half or so ago. She was asked why she did
31:00
Speaker 2: this and she said, I can't answer questions because there's
31:02
Speaker 2: a court case. I mean, this is about media management,
31:05
Speaker 2: not about the court.
31:06
Speaker 8: Case, well exactly.
31:09
Speaker 9: I mean the handling of that was appalling as well,
31:13
Speaker 9: and for different reasons, absolutely different reasons. And the way
31:17
Speaker 9: this has been handled, as I said before, by both
31:19
Speaker 9: the Prime Minister and Tony Burke, is abysmal.
31:21
Speaker 8: It's disgraceful.
31:22
Speaker 9: As Peter Kretlin on your network has said a number
31:25
Speaker 9: of times, there was an ability of the federal government
31:27
Speaker 9: to stopped these women returning by withdrawing their passports because
31:31
Speaker 9: they're allegedly linked to terrorism, and that'll be determined by courts,
31:34
Speaker 9: but they did nothing about it. And then it's a
31:37
Speaker 9: bit like what's happened the last week. I've been listening
31:39
Speaker 9: with some interest to your program tonight and watching what's
31:42
Speaker 9: been going on in relation to the budget, and we
31:45
Speaker 9: spoke about it prior to the budget being released, but
31:48
Speaker 9: we had a headstart on what was going to happen
31:50
Speaker 9: in relation to negative gearing and also.
31:53
Speaker 8: Capital gains tax.
31:55
Speaker 9: I'm amazed at taking some people almost five or six
31:58
Speaker 9: days to wake up to the fact that it's a
32:00
Speaker 9: budget an absolute do now all of a sudden, Angus Taylor,
32:04
Speaker 9: as lamentable as he may be, is now the preferred
32:06
Speaker 9: Prime minister in front of the Prime Minister.
32:08
Speaker 8: It's a big turnaround in the space of six or
32:10
Speaker 8: seven days for that to happen.
32:12
Speaker 9: And I still get a little angry with Angus when
32:16
Speaker 9: he wants to sling off at Holly Hughes and others
32:18
Speaker 9: about One Nation and the like. He needs to get
32:21
Speaker 9: in lockstep with them. I mean, he's not going to
32:23
Speaker 9: govern with the Greens or Labor. He'll never govern with
32:26
Speaker 9: their help, but he will govenm with the help of
32:28
Speaker 9: one Nation. And he needs to wake up with that
32:30
Speaker 9: fact sooner rather than later.
32:32
Speaker 2: Exactly when you put the primary votes of one Nation,
32:36
Speaker 2: the Liberals and the Nationals together, if they did have
32:38
Speaker 2: some sort of arrangement or governing agreement, you know there
32:43
Speaker 2: might be in with a chance.
32:44
Speaker 3: But separately they can't get there.
32:49
Speaker 9: And today I dealt with this in the Telegraph about
32:52
Speaker 9: his lack of knowledge of the Prime Minister. No one
32:54
Speaker 9: should be surprised about the trust and the death duties
32:57
Speaker 9: and death taxes. I mean, it was only twenty twenty
33:00
Speaker 9: two and you and I were there when of course
33:03
Speaker 9: he's stuffed up. You know the Reserve Bank interest, right,
33:07
Speaker 9: He didn't have a clue.
33:09
Speaker 8: He didn't have a clue on unemployment. I venture to.
33:12
Speaker 9: Think if he went up to the Prime minister and
33:14
Speaker 9: said to him, you are the least informed prime minister
33:17
Speaker 9: this country's ever had, he'd look at you and say,
33:19
Speaker 9: I didn't know that.
33:20
Speaker 8: He doesn't know anything.
33:22
Speaker 3: He's you know famously.
33:24
Speaker 2: I mean, this is kind of an inside story that
33:26
Speaker 2: people complain he's never across the detail. Different groups got
33:30
Speaker 2: to talk to him about legislation or policy, and you know,
33:34
Speaker 2: you think of even a prime minister as as unlikable
33:39
Speaker 2: as he as he was. Malcolm Turbul was across every detail,
33:42
Speaker 2: but Albanize is not. He has to send people back
33:44
Speaker 2: to their ministers. He just doesn't know what's going on.
33:47
Speaker 2: He doesn't understand it. He doesn't want to do the
33:49
Speaker 2: hard work.
33:51
Speaker 9: No. Now, look, politically he's very astute, but in terms
33:57
Speaker 9: of his general knowledge of what's happening, let alone the economy,
34:00
Speaker 9: he wouldn't have a clue unless someone's passing me a
34:03
Speaker 9: bit of paper to tell him what he's going to
34:05
Speaker 9: say next. And if they don't give him the right
34:07
Speaker 9: bit of paper, like they didn't have the course of
34:09
Speaker 9: the weekend, and then it's farcical as well that he
34:11
Speaker 9: should come back when he corrects himself and blames right
34:15
Speaker 9: when politicians for misquoting him. I mean, he must think
34:18
Speaker 9: we don't read the paper, we don't listen to the TV,
34:21
Speaker 9: we don't listen to the radio, we don't listen to
34:23
Speaker 9: his voice. I mean, you can't manufacture this stuff. This
34:26
Speaker 9: is our prime minister. I mean one other thing I'm
34:29
Speaker 9: really happy about. They've put Chris bow in the witness
34:32
Speaker 9: protection Old Casaneva. He hasn't been sited off nobbies for
34:35
Speaker 9: weeks and weeks and weeks. I don't know where they've
34:37
Speaker 9: got him ensconced, but wherever he is I have he's
34:39
Speaker 9: not in velvet.
34:42
Speaker 3: Look here.
34:42
Speaker 2: We haven't heard from him for a long time, that's
34:44
Speaker 2: for sure. But I also just want to mention that
34:47
Speaker 2: it was actually Albinizi himself who campaigned for death taxes
34:53
Speaker 2: in ninety ninety one. He was the assistant General secretary
34:55
Speaker 2: of the Labor Party and he thought, you know, anyone
34:59
Speaker 2: earning more than one hundred thousand dollars didn't deserve it.
35:03
Speaker 2: So he's always he thought that this idea of accumulating
35:07
Speaker 2: wealth being successful led to social injustice.
35:11
Speaker 3: I mean that's his ideology.
35:12
Speaker 2: And and sure, you know people change, but this is really.
35:18
Speaker 3: What he believes. He's always been a hard left politician.
35:25
Speaker 9: Well he should give the cousta capet Kabana back straight
35:28
Speaker 9: away for a start. And you know he's in terms
35:32
Speaker 9: of his political views. He was out waving a Palestinian
35:36
Speaker 9: flagger a few decades ago as a university student. He
35:39
Speaker 9: hasn't changed there, hasn't changed here and like I say,
35:42
Speaker 9: it ends capitalism, but he's not quite happy to go
35:45
Speaker 9: and spend four million and a bit on a place
35:47
Speaker 9: at capet Kabana which is on the central case of
35:49
Speaker 9: New South Wales for people in other parts of the nation.
35:53
Speaker 9: But it's just it infuriates me that the bloke like
35:58
Speaker 9: him can be And I've known him for decades as
36:00
Speaker 9: a South Sidney supporter when I was calling rugby league
36:03
Speaker 9: years ago, and you know, he just hasn't got it.
36:06
Speaker 9: He hasn't got the intellect to be a Prime Minister
36:09
Speaker 9: and keep doing things like he did on the weekend
36:12
Speaker 9: because he simply doesn't understand it. And then he'll lie
36:15
Speaker 9: and get himself out of it, as he's lied in
36:17
Speaker 9: relation to capital gains, tax and negative gearing fifty times.
36:21
Speaker 9: He was asked exactly leading into the election fifty times
36:24
Speaker 9: James O'Dell and the others will you No, don't be silly,
36:28
Speaker 9: it's not on the agenda. Now he's doing it for
36:30
Speaker 9: the benefit of everyone. But all of a sudden, either
36:32
Speaker 9: the young ones are waking up with the fact that
36:34
Speaker 9: it's not going to do them any good. And people
36:36
Speaker 9: like Holly Hughes, who's entrepreneurial and gets out there and
36:40
Speaker 9: invests in a country pub, works her backside off to
36:43
Speaker 9: grow the pub and grow the business. Then she's going
36:46
Speaker 9: to be taxed into oblivion if she happens to sell
36:48
Speaker 9: it for a big quid.
36:49
Speaker 8: No, it's not what Australia is about.
36:50
Speaker 9: It's about hard work and being rewarded for your efforts.
36:54
Speaker 3: No, this is punishing people of the effort.
36:56
Speaker 2: Just one tiny correction, Ray, he was actually a federal
36:58
Speaker 2: politician when he was waiving the Palestinian flag.
37:01
Speaker 3: He wasn't even at university.
37:03
Speaker 2: He was already in Federal Parliament and he was going
37:06
Speaker 2: to those protests very quickly. Ray, were you up at
37:09
Speaker 2: five am watching Eurovision yesterday?
37:14
Speaker 8: No, look, I've got it.
37:15
Speaker 9: I spent the weekend in Brisbane for the NRL Magic
37:18
Speaker 9: Round because we are helping support it by our children's
37:22
Speaker 9: cancer charities. Myself and my daughter and my wife were
37:24
Speaker 9: up there, along by his son in law. So I've
37:26
Speaker 9: got to say I had a very big weekend. And
37:29
Speaker 9: as much as I love Delta, who actually coached my
37:32
Speaker 9: children basketball when she.
37:34
Speaker 8: Was still a student out at Hills.
37:36
Speaker 9: Grammar, lovely girl, I've known a mum and a dad
37:39
Speaker 9: for years and years and years, but I couldn't drag
37:42
Speaker 9: myself to the TV to see her beaten by others.
37:44
Speaker 9: And I noticed that the Jewish round the cornella again
37:47
Speaker 9: they couldn't get across the line. And will leave it
37:50
Speaker 9: at that, because there'd be a whole range of reasons
37:52
Speaker 9: why they didn't win, not connected with talent.
37:54
Speaker 2: Well, interesting that Australia didn't give Israel any points, but
37:58
Speaker 2: Israel gave Australia top jury score of twelve points, so
38:02
Speaker 2: that was interesting. I didn't get up to watch it,
38:04
Speaker 2: but I did watch the point I did watch the
38:05
Speaker 2: point scoring at the.
38:06
Speaker 8: End for Unga rat for a long time.
38:10
Speaker 3: No it is Runga Ranga. I don't know.
38:13
Speaker 2: I think it's going to take all right, right, good
38:15
Speaker 2: to see you, listen you. I don't know what he
38:18
Speaker 2: was going to say there, but the Michelle song from
38:20
Speaker 2: Israel is also really nice if you look up that
38:23
Speaker 2: No and Bitton on social media. All right, still to
38:26
Speaker 2: come horror as two navy jets collide mid air, exploding
38:30
Speaker 2: in a fireball. We'll get the latest details and find
38:34
Speaker 2: a dot com founder. Will be here, he says, Australia
38:38
Speaker 2: is seeing the death of innovation. He'll be in the
38:41
Speaker 2: studio after the break. The Prime Minister has become the
38:47
Speaker 2: butt of jokes online, with small business owners creating AI
38:51
Speaker 2: images of him at team meetings or on the job
38:55
Speaker 2: to make the point that is now a near fifty
38:57
Speaker 2: percent co owner of their business. It's all in protest
39:01
Speaker 2: of costs to his plan to scrap the fifty percent
39:04
Speaker 2: capital gains tax discount. And multiple business leaders are speaking
39:08
Speaker 2: out against this budget, and one of them is tech
39:12
Speaker 2: entrepreneur Fred Shibaster, who co founded Global Fintech Finder and
39:16
Speaker 2: was an early investor in bitcoin. He says this is
39:19
Speaker 2: the worst budget in Australian history for small business and
39:22
Speaker 2: he joins me, now, Fred, thanks so much for being here.
39:26
Speaker 2: I mean, how bad will this budget be for small business?
39:29
Speaker 11: I think this is like the deathnew of Australian small
39:33
Speaker 11: business and innovation. It's business owners who put their family
39:38
Speaker 11: at risk, their health at risk, their life style at risk,
39:40
Speaker 11: going and then paying an extra fifty percent of the
39:44
Speaker 11: profits that would normally go to their families to buy
39:47
Speaker 11: homes and houses. And frankly, the small business in Australia
39:52
Speaker 11: and how that was built, small businesses building themselves up
39:55
Speaker 11: for families. That's what was Australian used to do. This
39:59
Speaker 11: budget's Australian really And how.
40:02
Speaker 2: Does Australia in terms of capital gains tax how does
40:05
Speaker 2: it compare internationally?
40:07
Speaker 11: So right now we have basically hit like some of
40:11
Speaker 11: the worst capital gains for small businesses, particularly if you
40:16
Speaker 11: compare it to New Zealand, we have zero percent. Singapore
40:18
Speaker 11: we got zero percent. The US is capped at twenty
40:21
Speaker 11: three point eight percent. It also has ten million dollars
40:25
Speaker 11: for any anyone who sells their company, the first ten
40:27
Speaker 11: million is zero percent, so you're incentivized to build a business.
40:31
Speaker 3: United States.
40:31
Speaker 11: It's in the United States, so they're building businesses there.
40:34
Speaker 11: They're taking risks as well. You know, fifty percent of
40:37
Speaker 11: businesses fail after the first three years. And this is
40:40
Speaker 11: not just you know, innovative companies. Obviously I love innovation
40:44
Speaker 11: and I love taking risks, but this is all small
40:47
Speaker 11: business in Australia, where mostly people are employed. They're taking
40:51
Speaker 11: they're doing it for their families.
40:53
Speaker 2: And I think that's a really good point that most
40:55
Speaker 2: people don't realize that because a lot of the media
40:58
Speaker 2: commentary has been around the startup community, and of course
41:01
Speaker 2: it's going to be a massive hit to the startup community.
41:04
Speaker 2: Why would anyone start a business in Australia. But it's
41:07
Speaker 2: also your local grocery store, your local vets, your local cafe.
41:11
Speaker 3: You know, small business owners will all be impacted.
41:14
Speaker 11: I think what this government's saying is, hey, don't start
41:17
Speaker 11: this business, get on the hamster wheel, stay employed, never
41:22
Speaker 11: own your home, always rent. They don't have a plan
41:25
Speaker 11: for housing and so I don't know where this idea
41:28
Speaker 11: comes from. This is Australians have built businesses and given credit,
41:33
Speaker 11: wealth and being ambitious. If what Australians can do right
41:37
Speaker 11: now is with that ambition, with that hard work, go overseas.
41:42
Speaker 11: They can leave, there's no guards at the border and
41:45
Speaker 11: they can go and start a business there. They can
41:47
Speaker 11: go and join a startup there, they can go and
41:49
Speaker 11: build wealth and then come back to Australia and own
41:51
Speaker 11: a home.
41:52
Speaker 2: So that would be your advice if a young Australian
41:55
Speaker 2: came to you instead, I've got this great idea for
41:56
Speaker 2: a business, you'd say, don't do it in Australia.
42:00
Speaker 11: I was talking to our interns and they asked me genuinely,
42:04
Speaker 11: what would you do if I was twenty I said, leave,
42:08
Speaker 11: leave right now. There's many opportunities overseas, and you don't
42:12
Speaker 11: have a government who's trying to take more of your capital,
42:16
Speaker 11: gain your risk. You know, a lot of Australians own shares,
42:20
Speaker 11: they take risks on shares, they take risks on crypto,
42:23
Speaker 11: they take risks on real estate, and you're taking that
42:26
Speaker 11: away from their retirement and that's painful.
42:30
Speaker 2: And then there's, of course it's a different issue, but
42:32
Speaker 2: the whole issue of family trusts as well, which is
42:35
Speaker 2: basically an inheritance tax.
42:38
Speaker 11: It is a lot of small businesses operate where the
42:41
Speaker 11: family works in the business and there's a trust and
42:43
Speaker 11: a lot of Australians then distribute that income to different
42:47
Speaker 11: people in the family and who knows how much they're
42:49
Speaker 11: all working. They're all working in the business to make
42:51
Speaker 11: it go. But fundamentally that structure was set up so
42:55
Speaker 11: is that you can distribute that wealth and then you
42:57
Speaker 11: can each of those people can then go on to
43:00
Speaker 11: build a home and build a family.
43:02
Speaker 2: I mean, business leaders like yourself often don't get involved
43:05
Speaker 2: in politics.
43:06
Speaker 3: It's too divisive.
43:07
Speaker 2: You've come out so strongly on this issue. What's been
43:11
Speaker 2: the reaction from other business owners and other people in
43:14
Speaker 2: your industry.
43:15
Speaker 8: I think they feel dejected.
43:17
Speaker 11: I think Australians, young Australians people looking at starting a
43:19
Speaker 11: business feel okay. You know, there are three things you
43:22
Speaker 11: can do when something happens. You can either change it,
43:25
Speaker 11: you can accept it, or you can leave. And they're
43:27
Speaker 11: looking at the leaving option right now because the pattern
43:30
Speaker 11: has not been Hey, let's go and reduce the capital
43:32
Speaker 11: gains tax. They suggested item was twenty percent, something like
43:35
Speaker 11: a flat twenty percent. That says to young Australians, Oh,
43:39
Speaker 11: I'm going to go and start a business, I'm going
43:40
Speaker 11: to take risk. And I know a lot of really
43:41
Speaker 11: young innovative you know, just people who are like you know,
43:45
Speaker 11: from the soul of the earth, trying to get up
43:47
Speaker 11: and they're not fancy businesses. You know, there's simple businesses,
43:51
Speaker 11: but they're taking risk and trying to get out there.
43:53
Speaker 11: I think there's another problem right now is I don't
43:56
Speaker 11: think many I don't think the government realizes that to
43:58
Speaker 11: attract talent into companies you need to use shares, right,
44:03
Speaker 11: and so using that stock to go and attract the
44:06
Speaker 11: talent in not just wages, but that stock that brings
44:09
Speaker 11: in talent into these new startups. And what are those
44:12
Speaker 11: new startups to those people? Then when that company grows,
44:14
Speaker 11: they get to build their wealth and that creates jobs.
44:17
Speaker 11: That's what creates productivity.
44:18
Speaker 2: That's going to be much harder to lure people with
44:21
Speaker 2: share options. Give the capital gains, tax arrangements.
44:23
Speaker 3: Now preachu best. They appreciate you being here. Thank you
44:27
Speaker 3: very much for your time, Thanks so much. SA still
44:30
Speaker 3: to come.
44:30
Speaker 2: Trump issues yet another warning to Iran, but who can
44:33
Speaker 2: believe him now? Plus what caused the shocking collision between
44:36
Speaker 2: U two US Navy jets that's next.
44:43
Speaker 3: Welcome back.
44:44
Speaker 2: President Trump is turning the heat right up on a
44:47
Speaker 2: run again, warning that the clock is ticking.
44:50
Speaker 3: He says they.
44:51
Speaker 2: Better move fast or a peace steal on a piece deal,
44:54
Speaker 2: or there won't be anything left of them. Enjoining me
44:58
Speaker 2: now is sky news cotribue to kosher gata, I mean kosher.
45:03
Speaker 2: You'd believe him if he hadn't said it so many
45:05
Speaker 2: times and then done nothing. The social media threats if
45:10
Speaker 2: we are getting skeptical, I mean, is around going to
45:14
Speaker 2: take it seriously?
45:17
Speaker 12: That is such a good point. It's a little bit
45:19
Speaker 12: of the boy who cried wolf phenomena and it took
45:22
Speaker 12: a while. But Trump because he is unpredictable, that's certainly
45:26
Speaker 12: his approach where you sort of do believe him. But
45:28
Speaker 12: at this point, this red line has been drawn and
45:31
Speaker 12: crossed and nothing has happened so many times. Most of
45:34
Speaker 12: the global consensus right now, if you look at geopolitical analysts,
45:37
Speaker 12: or even the betting markets and other markers like that,
45:39
Speaker 12: seem to be pointing towards an extended stalemate where this
45:43
Speaker 12: fragile ceasefire you.
45:44
Speaker 3: Know, will continue.
45:45
Speaker 12: There might be some action or esculatory events sort of
45:49
Speaker 12: in the strait, but contained and controlled in some way.
45:52
Speaker 12: And the reason for that is that there doesn't seem
45:54
Speaker 12: to be sufficient leverage on either side to declare decisive
45:58
Speaker 12: victory or defeat.
45:59
Speaker 3: That might change.
46:00
Speaker 12: There are many, many unpredictable risks that could happen at
46:03
Speaker 12: any time, but that seems to be where we are
46:05
Speaker 12: and for now, at least what everybody expects it's going
46:07
Speaker 12: to look like for the next few weeks.
46:10
Speaker 2: Trump met with President she of China a few days ago.
46:13
Speaker 2: What do we know about the talks they.
46:15
Speaker 3: Had around Iran?
46:19
Speaker 12: You know, they didn't give much in the reporting and
46:22
Speaker 12: the very choreographed presentations that both presidents did. We can
46:26
Speaker 12: surmise because we do know that China is the biggest
46:29
Speaker 12: customer of Iran, and so it's certainly in their interest
46:32
Speaker 12: to have all of this stabilized by the same token.
46:35
Speaker 12: There is this unspoken not really a cold war, but
46:38
Speaker 12: obviously their adversarial China and the US. And so as
46:41
Speaker 12: this continues to hurt President Trump domestically, which we can
46:45
Speaker 12: see that with his poll numbers, with everything else in
46:47
Speaker 12: the midterms around the corner, there's an argument that says,
46:50
Speaker 12: if this gets drawn out and protracted, it weakens the
46:53
Speaker 12: US and maybe that's favorable to President She. So I'm
46:55
Speaker 12: sure there were machinations and negotiations behind the scenes with
46:58
Speaker 12: this being a big flashpoint for both countries, but they
47:01
Speaker 12: didn't let on too much in terms of what was discussed.
47:03
Speaker 3: Yeah, not in the public domain at least.
47:05
Speaker 2: I want to get to this mid air collision two
47:08
Speaker 2: US Navy jets. This was at an air show at
47:11
Speaker 2: Mountain Home Air Force Base in Idaho, both of them
47:15
Speaker 2: crashing to the ground in front of terrified spectators.
47:17
Speaker 3: I mean, quotu.
47:18
Speaker 2: It's just a miracle really that everyone survived.
47:23
Speaker 12: Yes, it's stunning. In an indusdain age of iPhones and
47:26
Speaker 12: everybody's pocket smartphones, you get this kind of footage from
47:29
Speaker 12: the spectators who witnessed that in real time. Luckily, as
47:32
Speaker 12: you said, nobody was hurt. We don't know yet what
47:35
Speaker 12: caused the crash. There was an investigation going on, whether
47:38
Speaker 12: it was malfunction or just a mistimed the stunt or
47:41
Speaker 12: what have you. But I was looking into the shari
47:43
Speaker 12: this industry, the air show industry in the US, it's
47:45
Speaker 12: one hundred million dollar industry. They do two hundred to
47:48
Speaker 12: three hundred shows per year, either civilian or military demos
47:51
Speaker 12: like this one, to just bring interest into the and
47:54
Speaker 12: recruitment into the naval and the Air force. Navy and
47:58
Speaker 12: Air Force that have these kinds of capabilities popularized by
48:01
Speaker 12: top gun and other things, and sadly These crashes are
48:04
Speaker 12: not uncommon. There have been about thirty or so in
48:07
Speaker 12: the last decade or so, and half of them have
48:09
Speaker 12: been fatal. So this does happen. This is even though
48:11
Speaker 12: these are demonstrations, it is serious business and they do
48:14
Speaker 12: some really high stake stunts that sometimes go awry.
48:17
Speaker 2: Oh it sounds much too risky to continue with them,
48:20
Speaker 2: but yeah, very lucky that those four pilots were able
48:23
Speaker 2: to parachute to safety and avoid that fiery crash. Kosher,
48:29
Speaker 2: thank you very much for joining us, And that's all
48:32
Speaker 2: we've got time for tonight. I'll see you as always
48:34
Speaker 2: tomorrow at eight pm. Then right now, he's Paul Murray