JIM CHALMERS MP
SHADOW TREASURER
MEMBER FOR RANKIN
E&OE TRANSCRIPT
TELEVISION INTERVIEW
THE PROJECT
WEDNESDAY, 30 MARCH 2022
SUBJECT: Federal Budget
CHRIS BATH, HOST: We did invite Josh Frydenberg to join us tonight. He declined, so instead we're joined by the man who wants his job, Jim Chalmers, Shadow Treasurer. We've got a snippet here from last night's Budget speech. Let's just take a look at that.
JOSH FRYDENBERG, TREASURER (VIDEO INSERT): “Three years ago, we said to the Australian people that under the Coalition more people would be in work - and we delivered. That under the Coalition taxes would be lower - and we delivered. And that under the Coalition we would invest more in National Security - and we delivered.”
BATH: That's pretty hard to argue with, isn't it?
JIM CHALMERS, SHADOW TREASURER: Three years ago he was flogging off those Back in Black mugs on the Liberal Party website for $39.95, so I don't think he's quite delivered everything that he promised. Look, the Budget’s got a $1 trillion in debt, not enough to show for it, real wages are going backwards, but I think the biggest problem with the Budget last night is that there's just no plan for the future. It's a budget with a six or seven week shelf life. The Government can't see past the next election and that's why we've got this act of political desperation.
BATH: But if it's so short-sighted and so bad, you are supporting a lot of the measures in the Budget?
CHALMERS: We've said because people are copping it, frankly - because their real wages are going backwards once again to the tune, on average, of about 26 bucks a week - we think that there is a place for some cost of living relief. We've been saying that for some time. The missing part of the Budget was actually a plan for the future. I think some people would have tuned in and thought, yep, there'd be some cost of living relief in the near term, but what happens after that? What happens after the election? What happens in terms of education, child care, or cleaner and cheaper energy? That was really what was missing from last night.
CARRIE BICKMORE, HOST: Unemployment's at a record low. That's real.
CHALMERS: Well, unemployment's around four per cent. We've said we want that as low as possible. Unfortunately, we're not yet getting that wages growth that you'd normally see from unemployment lowering in welcome ways, and we've got skill shortages. So it's a bit strange that we haven't had the wages growth that people need. I think your viewers would understand - not just petrol, as important as that is, but also rent and groceries and childcare - there are a lot of ways that the cost of living are going through the roof. So we need to look for ways to give relief there. Part of that is having a decent plan for power bills, for childcare, for all of these other sorts of things. That way we can have unemployment as low as possible, inflation as low as possible, and we can grow the economy the right way.
STEVE PRICE, HOST: Jim, you mentioned petrol. The fuel excise will be halved, 22 cents cut, but it will go back up in six months. So, say you win the election in May - whenever it's held - you're going to have to announce that that petrol price increases. That'll be a pretty uncomfortable announcement, won’t it?
CHALMERS: I would have thought so Steve, to be honest. But the truth is that the legislation that goes through the parliament today legislates an increase in the price of petrol at the end of September. I think whoever wins the election that the most likely outcome is petrol goes back up again - and if I'm blunt about it, I think that's part of the Government's intention. They’re taking a problem that exists before the election, they're pushing it to the other side of the election, and hoping that they can scrape through. As it stands right now, petrol will go down for six months and then it will come up again at the end of that six-month period.
PRICE: Did the Prime Minister show today the doesn't quite get this whole thing about housing affordability and young Australians getting their own property, where he said, look the answer to increased rents is you go and buy a house? For many Australians that's clearly not possible.
CHALMERS: Yeah, obviously. You probably remember Steve, it wasn't that long ago that other Prime Ministers in this Government were talking about, if you can't afford a house and you’ve got to go and get your Mum and Dad to sort one. Or Joe Hockey said if you can't afford a house, you've got to go and get a higher paying job. I don't think they really understand the pressures here, I think it's a really pressing concern that people legitimately hold.
PETER HELLIAR, HOST: Jim, last night's budget speech was out-rated by Channel 10's The Dog House. Labor’s budget reply speech, he's up against First Dates on Thursday. Does Albo have any tricks up his sleeve to win more viewers than Frydo?
CHALMERS: They could tape the other show and watch Albo live, I would have thought, and catch up afterwards. That would be my advice.
BICKMORE: That is not Channel 10's advice!
(LAUGHTER)
BATH: Jim, thanks very much for your time.
CHALMERS: Appreciate it guys, all the best.
ENDS
