HAMISH MACDONALD:

Good to see you, Jim.

JIM CHALMERS:

G'day Hamish.

PETER HELLIAR:

Before we kick things off, I've got to say that package looked amazing. The vibes on the ground at the Jobs Summit looked electric. Let's have a look at some of the vibes on the ground there [vision of summit]. That's Twiggy there. That's Anthony Pratt, and I think we've got Brendan O'Connor. Was it as exciting as that?

CHALMERS:

In their defence whenever I give a speech that usually happens. I think all of that footage was taken between 8:20 am and 8:30 am this morning when I happened to be speaking.

REBECCA MORSE:

The strong message today was there's a huge untapped resource available in getting women back to work out. Why don't you bring childcare relief forward for those women to get them back in the workforce?

CHALMERS:

You're right that it was a massive theme of the first day. We did that intentionally. We wanted to make sure that one of the big focuses of this Jobs Summit was the untapped economic potential of Australian women who would work more and earn more if we made it easier for them to do that. I know that there have been calls from a lot of people that I have a lot of respect for to bring forward our game changing investment in childcare, which recognises that this is not some kind of social security payment. It's crucial cost-of-living relief that has a big economic benefit in our workforce and in our economy. We would like to be able to fund some of these ideas earlier than we are, but the reality is - and just being upfront with all of your viewers - is that we can't afford to do all of that. And so instead, it will begin in July as we originally intended. When it comes in, it will be a game changer for Australian mums and dads and it will also be a game changer for the economy, and we're really proud of it.

LISA WILKINSON:

One option that's open to your Treasurer, is you could save $243 billion by scrapping the stage three tax cuts, which do overwhelmingly benefit men, wouldn't that money be better spent on better childcare arrangements that would then get more women into the workforce?

CHALMERS:

First of all, as I think you probably know, we haven't changed the position that we took to the election on those stage three tax cuts. And I think it's important to understand, that those tax cuts don't come in for a couple of years. And so you couldn't, theoretically, use that saving from what you're proposing to fund childcare in the next few months. It doesn't quite line up like that. You brought a point about our priorities. We've got a whole bunch of priorities in the near term, which is about getting wages moving again, dealing with these labour shortages and skills shortages, making our economy more productive and more competitive, and work for more people so it creates more opportunities. That's what we're focused on, our position on the tax cuts hasn't changed.

MACDONALD:

I do want to pull you up on that though, because these tax cuts are baked into the budget in the out-years, it is legislated. You went to the election saying that we're going to stick to that, but all of these decisions are about your priorities as a government and our priorities as a nation. And it seems that there is consensus about the opportunity of getting all of these women back into the workforce. And it does seem an obvious miss, that you're not willing to be pragmatic about these tax cuts in the way that you are about other things.

CHALMERS:

Obviously, we listen respectfully to people who have a different view to us, but we point out that we haven't changed our position. And it doesn't prevent us from making some of these big investments. That childcare investment, which is the biggest on-budget investment that we took to the election, it'll be the biggest on-budget investment in the Budget I hand down in October. That's a big game-changing investment.

MACDONALD:

But Jim, I keep hearing you and other ministers in your Government saying that we can't afford to pay for some of the good ideas that have been put forward. Why is it that you can't afford to pay for those good ideas, but you can afford these tax cuts, that as Lisa said, will overwhelmingly benefit high-income men?

CHALMERS:

The point I'm making about the childcare bring forward, is that you can't, the way the budget is set up, pay for something in 2023, with a change in the budget a couple of years after that. That's just the point that I'm making. I understand the point that you're putting to me, I understand and listen respectfully when others put it to me as well. But what I want to try and avoid here, Hamish, is to think that somehow an investment of almost $5 billion in a game changing childcare policy, which will make it easier for Australian parents, and especially Australian mums, earn more and work more, coming in July as some kind of second-best option. It will be an incredibly important investment. And today at the Jobs Summit, in that really important first session on maximising the participation and economic opportunity of Australian women, the thing that came up again and again and again, is how important that investment will be.

MACDONALD:

Jim, we'll let you get off to the after-party. Looks like it'll be great. Thank you very much.

CHALMERS:

Thanks very much, everyone.