Topics:  Labor’s economic mismanagement, Labor’s homegrown inflation, Misinformation Bill 

 

E&OE   

 

KIERAN GILBERT: 

Let's go live now to the Shadow Treasurer, Angus Taylor. Just to pick up on a point Andrew made there in relation to the surplus, yes it's a tick, but people around the kitchen table, they certainly don't have a, many don't have a family surplus right now. And I guess both sides of politics, though, you're restricted in how much you can spend aren't you, in the lead up to the next election, given the inflationary environment we're in right now? 

 

ANGUS TAYLOR: 

Well Kieran, you're absolutely right. Household budgets are in tatters under this Labor government. We've seen a 9% reduction in real disposable income for Australian households, and this is a disastrous situation for them, so they really aren't very interested in the spin that we hear from this Treasurer day in, day out. But we should also be clear that this is the biggest spending, biggest taxing government in Australian history. Taxation since Labor came to power for the year just passed, is up $104 billion, receipts is up $104 billion, and the vast majority of that they have actually spent. So you know, this guy he's trying to con the Reserve Bank by manipulating the numbers on headline inflation. He's also trying to con the Australian people and saying they've got a wonderful situation in terms of their household budgets. And now he's trying to con us all on the trajectory of taxation and spending by this government. But it is the biggest spending, biggest taxing government in Australian history.  

 

KIERAN GILBERT: 

Do you accept yourself, both major parties have to spend less in the lead up to the next election?  

 

ANGUS TAYLOR: 

Well, you've got to contain the growth in spending, and we're seeing a 16% growth in spending in two years in this last budget from this government. And we're seeing that the vast majority of the money that they get in extra taxation from strong iron ore revenues, from higher personal income tax which is about 50% of the increase in taxation, is being paid for by the Australian people, and their budgets are in terrible, terrible state, Kieran, and that's the most important point. There is no plan from this government to restore Australians' standard of living. They've been going backwards, and they're in dire situations right now. Now, you know, you'd say well okay, the government should be focusing, as you rightly say, on containing the growth in government spending. But Australia is at the back of the pack in dealing with this inflationary pressure. We've still got interest rates where they were, and yet we're seeing interest rates coming down in the UK, in the US, in Canada, in Europe and elsewhere, and that's a function of the fact that this government has been at the back of the pack in dealing with these pressures.  

 

KIERAN GILBERT: 

The Treasurer basically ruled out any move on negative gearing, says this is just simply what public servants do, put up advice, look at modelling and so on. But it's clear it won't be part of the government's approach to the next election. Do you welcome that? 

 

ANGUS TAYLOR: 

Well, can I say Kieran, that the over $100 billion per annum increase in taxes being received by government, in government receipts, the trouble with that is it's going to dry up. And in particular, the iron ore prices are down, no matter what the Treasurer says. They're down on where they were, and the expectation in the government's own budget is that those receipts are going to come down sharply. So the Treasurer is looking for any which way of getting his taxation receipts up. We know he's coming after unrealised capital gains. We know he's coming after franking credits, but we learn that he's got a secret plan in motion to go after negative gearing and capital gains tax. Well, he should be upfront with the Australian people on this. To say, it's not controversial to be working on a plan for going after negative gearing and capital gains tax, well only this Treasurer could come up with that spin. Of course, it's controversial, and he should be upfront about it. 

 

KIERAN GILBERT: 

The Misinformation Bill, deadline for submissions today. Why is the Coalition against this, cracking down on disinformation and misinformation online? 

 

ANGUS TAYLOR: 

Well, we believe in free speech Kieran, we believe in it. And this is a, whilst at the end of the day there's always a balance here. There's a certain boundary that you have to establish, this is getting the balance wrong. This is clearly getting the balance wrong. It's giving enormous powers to the Minister, it's giving enormous powers to ACMA. And we think that this is a government that is not seeking to deal with speech that's unacceptable, it's dealing with a situation which ultimately is going to lead to a curbing of free speech in this country, which is unnecessary. And so that's why we don't support it Kieran. We do believe in free speech and getting the balance right. We do think you in the media should be free to speak out, we don't always like what you say, but this is a government that wants to bring down a Bill that I think is very dangerous in terms of getting that balance wrong. 

 

KIERAN GILBERT: 

Angus Taylor thanks for your time. Appreciate it. Thanks for joining us on your birthday, many happy returns. 

 

ANGUS TAYLOR: 

Good on you. Thanks, Kieran. 

 

ENDS.