Interview with Matt Doran, Sunrise, Channel 7
MATT DORAN:
Joining me now is Treasurer and acting PM, Jim Chalmers, who's in Byron Bay ahead of a tour of the flood-affected regions. Treasurer, thank you so much for being with us. In your October Budget, you said inflation was set to peak at the end of 2022. What's your view now? Is that still on track or are prices going to keep going up?
JIM CHALMERS:
Good morning, Matt. Certainly the expectation, as you rightly point out, was that the peak in inflation in Australia would be around now, around the Australian summer, and it remains to be seen whether that's the case. We had an important monthly inflation number come out not that long ago, which said what ordinary Australians right around the country already know, which is people are feeling the pinch. One of the reasons for that - in addition to the war in Ukraine and what that means for energy prices - is also the impact of natural disasters here in Australia, which does have the capacity to push up the price, particularly of fresh food, fruit and veggies from some of our prime agricultural land. The numbers which are out there today are a new set of numbers which show that although our primary concern in flood‑affected communities is for the human cost and the community cost, there is an economic cost and a cost to the budget as well. That was a key focus of the Budget in October, and it will be a key focus for the Budget that we hand down in May as well.
DORAN:
And you're visiting those flood-ravaged regions this morning, Treasurer. Are there any estimates on how much these disasters are actually hurting the economy, any figures?
CHALMERS:
Treasury tells us that the direct loss of economic activity is about $5 billion in 2022 but that doesn't capture the full gamut of devastation when it comes to lost assets, when it comes to damage done to communities and to people's livelihoods right around Australia, including WA and South Australia right now, but throughout the course of 2022. One of the really stunning numbers that we found as we looked into this over the course of the last few days is something like seven in every ten Australians lived in a natural disaster affected area in 2022. These natural disasters are becoming more frequent and in many cases becoming more damaging as well. Australians are there for each other when natural disasters hit and I want to assure people that the Albanese Government will be there for them as well - in WA and South Australia, but also in some of these communities impacted in 2022. So the reason why Murray Watt and I will be in northern New South Wales throughout the course of today inspecting the flood rebuild is because we want to make sure that governments are there when the floodwaters rise but also after they subside.
DORAN:
Treasurer, before I let you go I want to ask you about this really big story unfolding in New South Wales - Premier Dominic Perrottet's admission he wore a Nazi outfit to his 21st. Should he keep his job?
CHALMERS:
Ultimately I think that will be a matter for the people of New South Wales to determine. What we want is we want New South Wales and Australia to be more inclusive and more tolerant, not less. People had an opportunity to express a view at the national level at the election in May last year, and they'll have an opportunity here in New South Wales as well...
DORAN:
Do you have a personal view though Treasurer?
CHALMERS:
Obviously, it's a shocker. It's deeply distressing and offensive to a lot of people, particularly I think Jewish communities, returned service people and others. I think it's a shocker, frankly, and it's right that he apologised and the people of New South Wales will have an opportunity to express their own view in March.
DORAN:
We'll see how that plays out at the polls, Treasurer. Thank you for your time this morning.
