JIM CHALMERS MP
SHADOW TREASURER
MEMBER FOR RANKIN
E&OE TRANSCRIPT
TELEVISION INTERVIEW
SKY NEWS SUNDAY AGENDA
SUNDAY, 1 MAY 2022
SUBJECTS: Scott Morrison’s cost of living crisis; A better future under Labor or three more years of dysfunction and drift; Labor’s Economic Plan; Labor’s Help to Buy plan to tackle housing affordability; Scott Morrison always wants to take credit but never wants to take responsibility; Josh Frydenberg is preferencing One Nation.
KIERAN GILBERT, HOST: Jim Chalmers, thanks for your time. How much is at stake today with this launch just well, less than three weeks now to polling day?
JIM CHALMERS, SHADOW TREASURER: Well, it's an exciting day. We get to officially launch the campaign here in Perth. It's a demonstration that Anthony Albanese wants to govern for the whole country. And also here in Perth is the epicentre of Scott Morrison's cost of living crisis. Inflation here in Perth, 7.6%. Around Australia, 5.1%. And that's what the election is about, in lots of ways. And so Anthony will be speaking today about the choice, a stronger economy and a better future under Anthony and Labor, or another three years of the same drift and dysfunction, which has seen ordinary working families falling further and further behind.
GILBERT: Does Labor also need to be upfront with people that fine you can try and push wages up and do everything from that side of things, but you're not going to bring down the price of an iceberg lettuce or you know, day to day goods at the supermarket? There are things you can't touch as a politician.
CHALMERS: It's important that you focus on the ways you can make a meaningful difference in people's lives. And we do have tangible policies to take the cost of living pressures off Australian families, whether it's in childcare, whether it's in health care, whether it's power bills, whether it's mortgages, mortgage repayments, and we do have a plan to get real wages moving again, and we've been realistic about it. The difference between us and the government is Scott Morrison sees this cost of living crisis that's emerged on his watch over a long period of time, and says it's not his job to care about it. Anthony Albanese will take responsibility for it. That's why we have responsible policies to deal across the board with a range of cost of living pressures. That means under Labor, you'll have a government which cares about cost of living and has plans to deal with it.
GILBERT: We have the possibility of a rate rise within a couple of days. Today, the centrepiece of Mr. Albanese's speech and launch is about this housing policy. Is it a risk, though, that that drives up inflation even further by creating more demand in the housing market?
CHALMERS: Well, it's a long term policy for a long term problem. You know, this is an issue. Helping people into the housing market's been an issue for a long time now, as you know, and our policy is designed for the long term because it's a long term problem. But interest rates are expected to rise whether it's on Tuesday or whether it's next month, almost everybody expects there'll be interest rate increases. And this is about making people's mortgages smaller in the context of rising interest rates. This policy is about smaller deposits, smaller mortgages and smaller repayments to take the cost of living pressure off people and to get an extra 10,000 people into the market who wouldn't otherwise get in.
GILBERT: Could it drive up housing prices though?
CHALMERS: Well house prices have gone already. House prices went up something like 25% last year, there's been a moderation in more recent times. It's different in different parts of Australia. Ours are responsible, long term policy settings for a long term problem. Making mortgages smaller in the context of rising interest rates will make it easier for more Australians.
GILBERT: When you look at the broader political equation now, we're seeing the preference deals emerge. One nation with its deal with the LNP in Queensland, are you concerned about that in terms of the party's electoral prospects there?
CHALMERS: I don't focus on it. You know, I've always thought that there will be some kind of coalition of chaos between the Liberals, the Nationals, One Nation, Palmer and all the rest of it. It's not my focus. My focus is the cost of living crisis. Josh Frydenberg is preferencing One Nation in Kooyong. So Josh Frydenberg is focused on giving One Nation preferences and getting One Nation preferences. I'm focused on the cost of living crisis. That's the difference.
GILBERT: Anthony Albanese has just emerged out of out of isolation. Seems like he's got some energy back.
CHALMERS: Raring to go, absolutely.
GILBERT: How crucial now for a disciplined, gaffe free final three weeks from him?
CHALMERS: Well he's in great nick, he's coming back out of isolation. He had a great hit out yesterday. And his speech today, I think, is a really important opportunity to put his stamp on the campaign. To set up that choice between a better future or another three years of dysfunction and drift and people falling further and further behind. I know that he's up to it. You know, this pandemic has taught us to plan for every eventuality, and we did and we have. It wasn't our first preference to have our captain off the field for a week. We did our best in his absence. But he's back now. And we've got 20 days to go.
GILBERT: Is this the final positive pitch today before it all turns negative and targeting Scott Morrison's personal record?
CHALMERS: No every day has an element of our positive plans. I released our Economic Plan and our Budget Strategy with Katy Gallagher last week, we'll have more positive plans to outline between now and the election. But it is a choice. You know, the Prime Minister says it's not a referendum. It's a choice. It's both. It's a referendum on almost a decade now of all of those mistakes that he made, which cost Australians so dearly. And it is a choice. A better future and Anthony Albanese and Labor or another three years of the same, where ordinary working people are falling further and further behind because the Prime Minister won't take responsibility for the difficult things in the economy. He's always there to take the credit if things are going well. Never there to take the responsibility. Always says it's not his job, I don't hold a hose. What you'll see from Anthony today in his launch speech is a true leader prepared to take responsibility show up and work hard every day to bring people together. We're in Perth as a demonstration that Anthony Albanese will be a Prime Minister for the whole country, not setting people against each other.
GILBERT: On your economic plan that you launched with Katy Gallagher, is it deliberately modest, because you don't want to scare the horses? Is that the way you've designed?
CHALMERS: It's deliberately designed for the economic conditions that we would inherit. The defining challenges in the economy are skyrocketing inflation, falling real wages, and the fact that we don't have an economic dividend from this budget which is heaving with a trillion dollars in debt. Those are the challenges. And our economic plan is responsible and it's geared towards dealing with those challenges, getting the economy growing the right way without adding to inflation, easing cost of living pressures on Australians, getting real wages moving again and trying to improve the quality of the budget, which is riddled with rorts and waste from almost a decade now of Coalition economic mismanagement.
GILBERT: If you do win in three weeks from now, and you're the Treasurer, you've got some enormous challenges you're alluding to. We've discussed it already, the interest rate situation, but it's going to require as well, tough calls, isn't it to take a bit of money, to take government expenditure out of the economy, given inflation is where it is?
CHALMERS: Yeah and we've given an indication of where we'd begin that task. You know, we've said there's an opportunity to trim spending.
GILBERT: Is that enough?
CHALMERS: Well, it's more than the government is proposing. The government spent $39 billion on Budget night, without any talk of offsets. We're taking this challenge seriously. The issue in the budget is that there's a trillion dollars in debt, but also that we don't have enough to show for it. And so our investments, whether they'd been cleaner and cheaper energy, or dealing with the skills crisis, or investing in the NBN, or a future made in Australia, these are all plans that have multiple benefits. Investing in jobs, getting real wages growing again, but also making sure that we have an economic dividend to show for all this debt.
GILBERT: Is there a risk that with rates going up, if that if that happens on Tuesday, that this ends up being a win for the Coalition? People uncertain about their economic future, gravitate back to the Coalition, and its economic management?
CHALMERS: Time will tell but I don't think so. You know, I speak to a lot of people around Australia and not just during this campaign, but before it. There is a full blown cost of living crisis in this country that Scott Morrison has not taken responsibility for. When unemployment comes down in welcome ways he says it's because his plan is working. When costs of living go through the roof and real wages go backwards, he says it's nothing to do with him and it's not his job. And I think a lot of people are starting to see through Scott Morrison, for that reason.
GILBERT: Finally, today, a big moment for the Labor Party and for your side of politics. There's always a sense of hope, I guess, at moments like this, that you might be successful. But in the cold light of day, do you think you are where you need to be to win on May 21?
CHALMERS: We've certainly got the positive plans to govern the country, most importantly, but also to attract the support of enough Australians. You know, time will tell, whether we get over the line or not. We don't take any outcome for granted. But we've certainly done the work. We are a united team, as people saw when Anthony was laid up with COVID. We've got a good strong team. We've got the right plans for Australia, and we're up against a Prime Minister who has made so many mistakes which have cost Australians dearly. And so all of that puts us in good stead.
GILBERT: Shadow Treasurer, Jim Chalmers. Appreciate it.
CHALMERS: Thank you, Kieran.
ENDS
