Aussie PM Talks on Ten News First Lunchtime
This budget is a clear pitch to voters in the countdown to the federal election. To discuss, Prime Minister Anthony Albanese joins us now from Parliament House in Canberra. Good morning to you, Prime Minister.
ANTHONY ALBANESE, PRIME MINISTER: G’day, Angela. Good to be with you.
BISHOP: The Opposition says you’re bribing Australians with tax cuts. Is it designed to help win you votes?
PRIME MINISTER: What it’s designed to do is to help with cost of living relief. That’s why we introduced the tax cuts last year for every single taxpayer, not just some. And what we’re doing is topping that up so that people will benefit on average on around about $2500 additional money in people’s pockets. Same time real wages are increasing – we want people to earn more and keep more of what they earn. We’re also providing energy bill relief, cheaper medicines and we’re growing our economy, importantly. And we have a plan to make more things here in Australia through our Future Made in Australia Agenda.
BISHOP: The top up tax cut, as it’s being called, is worth about $5 a week – the price of a coffee. The cost of living has climbed thousands of dollars a year when we add it up. How much of a difference is this really going to make to Australians?
PRIME MINISTER: Well, $2500 of additional money in people’s pockets will make a difference. As well real wage increases are making a difference. Cheaper medicines are making a difference. The tripling of the Medicare bulk billing incentive, the largest investment in Medicare since Medicare was created by the Hawke Government, is making a difference as well. More Australians being able to see a doctor for free. The opening of Medicare Urgent Care Clinics so people can do that, will make a difference. Reducing medicines to $25, the same cost they were way back in 2004. All of these measures will make a difference. They’re responsible and at the same time, we’ve brought inflation down. The inflation figures out this morning show a further drop in inflation, heading in the right direction and we are turning a corner. Inflation’s coming down, wages are going up, interest rates have started to fall and tax cuts are being delivered. All of this will make a difference to take pressure off the family budget, which is what our focus was last night.
BISHOP: Can we talk about energy, it’s something that everyone cares about, and bills are set to be hundreds of dollars more expensive than what you promised ahead of the last election. You’ve been forced to budget in another rebate of $150. Is this the best way forward?
PRIME MINISTER: What we’ve done is produce three now, energy bill rebates to make a difference to people’s power bills. They were impacted by the global spike in energy prices, as well as the fact that before the last election, Angus Taylor as the Minister kept secret the fact there was a 20 per cent increase in costs factored in under the default price mechanism that applies. So what we’re doing is making sure that we continue to invest in the cheapest form of new energy. And when it comes to energy costs, the Coalition are promising a nuclear plan that will cost $600 billion, that will produce 4 per cent of Australia’s energy needs way into the 2040s that every taxpayer will have to pay for because the private sector won’t touch it with a barge pole because it doesn’t add up. That will lead to higher prices, not lower prices. We need to continue to invest, making sure that we look after people in the short term, but that we also invest in Australia’s energy security and needs. And that’s what my government is doing.
BISHOP: Is there room in this budget to deal with what might be yet to come from US President Donald Trump in the form of more tariffs or disruptions to trade agreements? Is there anything spare in case the worst happens?
PRIME MINISTER: Well, what we’re doing is investing in Australia through a Future Made in Australia. We need to be more resilient, we need to be able to stand on our own two feet – that’s what we’re doing. The engagement on trade with our major trading partner, China of course, is worth about 25 per cent of our trade. It’s overwhelmingly our largest trading partner. And we have repaired that relationship to the benefit of Australian producers in areas like wine and barley, as well as products like coal and iron ore, other products which are needed. And so we’ve repaired that, we’re doing it, we’ve done a fantastic deal with the United Arab Emirates. We’re dealing with ASEAN nations in our region as well to diversify our trade. And we’re confident that we will be able to deal with these issues. We’re continuing to have discussions with the Trump Administration that has imposed these tariffs on aluminium and steel on every single country in the world. What that means, of course, is that there’s no comparative disadvantage for Australian companies who are continuing to export to the United States. Whether it be BlueScope exporting the wonderful COLORBOND roofs that make a difference, or whether it will be aluminium from Rio Tinto.
BISHOP: What are your thoughts about the 2032 Brisbane Olympics plan?
PRIME MINISTER: Well, we’ll examine that plan in detail. It was only released yesterday because obviously I was focused on our Budget. Look, we’ll work constructively. I want the Brisbane 2032 Olympics to be a huge success. And I think it is a moment for Australia of which we can be proud, just as Australia is proud of Sydney 2000 and Melbourne 56′.
BISHOP: Prime Minister, looking towards the election, are there any mornings coming up when the Governor-General should plan to stay home for a visit?
PRIME MINISTER: Well, we’ll wait and see. My focus has been on the Budget. I’ve said consistently for the last three years that a government that I lead, we intend to serve our full term. That’s precisely what we have done. I note that a year ago, Peter Dutton was saying we should have an election last year at this time in order to stop our tax cuts going through. And the same people just voted against our tax cuts in the House of Representatives a year later. So sometimes the more that time goes on, some things just stay the same. And what has stayed the same is Peter Dutton opposing tax cuts and opposing cost of living relief, which is what he has done as Opposition Leader for three years.
BISHOP: Prime Minister, I know you’re busy and you’ve got to go. Did you manage to catch the Socceroos win last night?
PRIME MINISTER: I didn’t, I’ve got to say. But I was a bit busy last night with the Budget. But I’m also, I’m looking forward to the Bunnies playing tomorrow night.
BISHOP: Excellent. Thank you so much for your time Prime Minister, Anthony Albanese.
PRIME MINISTER: Thanks so much, Angela.
https://www.pm.gov.au/media/television-interview-ten-news-first-lunchtime