Topics: Julian Assange, Monthly CPI 

 

E&OE   

 

KIERAN GILBERT: 

Let's get some more reaction to this story, also the inflation number. Joining me is the Shadow Treasurer Angus Taylor. Before we get to inflation, which is the number one issue on people's minds, we know that, voters are, cost of living is obviously one, two and three in terms of priorities. But the Assange matter, what's your assessment of his welcome home? 

 

ANGUS TAYLOR: 

I think the important, well I can understand why the family is very pleased to have him home, of course. But the important thing here is that the justice system of the UK and the US be respected. Assange, of course, pleaded guilty and we welcome the fact that that has resulted in his release. But all the way along, this hasn't been about illegal detention, this has actually been about the justice system of other countries, countries we respect, who are like minded countries, and we should, that should be our starting point, as we approach this.  

 

KIERAN GILBERT: 

Not like Kylie Moore-Gilbert in...  

 

ANGUS TAYLOR:  

Very different from Cheng Lei or Kylie Moore-Gilbert and others, they were illegal detentions. And that means the government should have a very different approach to those situations. It's not the role for the government to celebrate an outcome like this. It's certainly the role for the family, I can understand that. But the government has got to recognise that this was not illegal detention and the UK and US justice systems have actually been, they've had to operate through their own processes and that's appropriate.  

 

KIERAN GILBERT:  

There are really different, I'm sure you've heard this from your own constituents, but those that care about it, there are different views. There's those that almost beatify Julian Assange as a great hero and Saint of free speech. There are others who, as Michael Ware just said on our program, thinks he betrayed the national interest. In fact, Stephen Smith said in 2010 he was a great risk and threat to our national interest.  

 

ANGUS TAYLOR: 

Well he's pleaded guilty to espionage. It's important to recognise that. And so the point here is that those justice systems are justice systems we respect, they've played their way through, we welcome the fact that the outcome was what it was. And I realise this really divides the community. But I think it's time to focus on other issues. And the most important of those issues, Kieran, is that Australians are facing a cost of living crisis with no end in sight, no end in sight.  

 

KIERAN GILBERT: 

With the inflation number, the argument was being made yesterday by some economists and commentators that the number that dropped off from May 2023 was even worse than May 2024. But actually, inflation hadn't grown in that month. What do you say to that?   

 

ANGUS TAYLOR:  

This is Jim's spin.  

 

KIERAN GILBERT: 

But other commentators are saying... 

 

ANGUS TAYLOR: 

Well, except that the outcome was seen by the markets who are pretty objective evaluators of all of this, as a complete disaster. We have seen, since that inflation announcement came out, the markets and many leading economists say we're looking down the barrel now of 12 months without an interest rate cut and a very real prospect of higher interest rates. What's clear, what's unambiguous... 

 

KIERAN GILBERT: 

Do you think we're in a situation... 

 

ANGUS TAYLOR:  

Well, I'm just saying what the market, I don't get into forecasting, Kieran, but what I do say, the markets are unambiguous. I mean, they are in absolute shock on this number. So it can be spun by some however they like it, but you can't spin this one. Australians are facing, looking down the barrel now of a situation where interest rates are going to be higher for longer.  

 

KIERAN GILBERT: 

What's driving the stickiness on the inflation side?  

 

ANGUS TAYLOR:  

So the history of inflation all around the world throughout history has been very simple. If you leave all the work to the Reserve Bank, then either you completely wreck the economy  or you don't beat inflation. The government has to do its bit. And we've got a government here, who has been reckless in three failed budgets. It hasn't done what needed to be done. We've got 16% growth in spending in the next two years in this budget, driving the budget off a cliff. It's a big spending budget.  

 

KIERAN GILBERT: 

But the states are also shoveling out quite a few dollars right now.   

 

ANGUS TAYLOR: 

Well they're doing their bit too and I don't see Jim Chalmers trying to rein them in at all. I mean, this is a Treasurer who doesn't understand inflation. He doesn't get it. And Australians do, because Australians are suffering from it. And they're not just suffering from the inflation, they're suffering from the higher interest rates, the higher taxes they're paying, and nothing the government can do will touch the sides... 

 

KIERAN GILBERT: 

Do you fear we might get a couple of rate hikes? 

 

ANGUS TAYLOR: 

Look, the market is seeing real prospects of rate increases and no prospect of rate reductions in the next 12 months. I'm not going to get into forecasting and you've already tried me on that Kieran and I'm not going to do it. But what I'm going to say is that the view of leading economists, and the bond markets that obviously assess this and set the interest rates that we all pay, is that there's no end in sight. And hope is running out. Australians have cracked open the piggy bank, they're working harder than ever, they're cutting back on spending, and none of that has been enough. And I'll tell you, there's no light at the end of this tunnel.  

 

KIERAN GILBERT:  

I just wonder in hindsight if, this is a hypothetical, but I think it's relevant because if there are a couple of rate hikes, the Coalition would be right in the game ahead of the next election. Should you maybe have held off on such an ambitious nuclear policy? Which again, could be so decisive, you could lose a lot of votes on that front. You could win it just on cost of living and rates if another two or three hikes are seen?  

 

ANGUS TAYLOR: 

Yeah, well, I'll leave the political commentary to you, that may well be right. But the point is, we've got to do what's right for the nation. And this is a time Kieran, where hard decisions need to be made. We don't need weakness in our leadership, as we've seen from the Prime Minister and the Treasurer. And whether it's beating inflation, by taking the right policies into a budget, three failed budgets that haven't actually done what needed to be done, or whether it's failing to actually deal with the short term and longer term issues in our energy system, which is failing us, just look at the electricity and gas price over the last month. I mean, it's been diabolical. This government has not made the right calls, and we're paying a very high price for it. Every single Australian right now is paying a high price and those with a mortgage seriously cannot see light at the end of the tunnel now and that's because of this government's failures.  

 

KIERAN GILBERT: 

Angus Taylor, thanks for your time.  

 

ANGUS TAYLOR: 

Good on you Kieran. 

 

ENDS.