Topics: Taiwan, CPI, Inflation, EPBC laws, net zero.

 

E&OE

 

KIERAN GILBERT:

 

Let's bring in the Shadow Defence Minister, Angus Taylor. Thanks for your time. I know you were in America recently. We were talking to Staś about Donald Trump's position on Taiwan. The Chinese leader spoke to him this week. There's a bit of uncertainty, it's fair to say, in North Asia right now, tension again, flaring between Japan and China, and we just don't know what Donald Trump will do in response.

 

ANGUS TAYLOR:

 

Sure, but what's very clear Kieran is that we're facing the most dangerous strategic circumstances since the Second World War, and we hear that from many experts on a regular basis, and the cost of deterring conflict has gone up. We've seen that in the investments that have been made all around the world, but also in Taiwan, as you've just seen, and this is why we have to do our bit to make sure we're deterring conflict. Whether it's hot war or just coercion, economic and other coercion. We have to make bigger investments if we're going to get that peace outcome that we all want to continue to see. And my time in the US is about making sure we spend every dollar we can well, by learning from countries like the United States. I was in Israel only a short time ago as well, but also making sure we got the funding that we need to support our war fighters and that's not about trying to drive war it’s about trying to avoid it. Deterrence is the key.

 

KIERAN GILBERT:

 

And you've argued for a greater expenditure, both before the election after it as well, in terms of percentage of GDP on our security and defence. Today, you know, it's separate but related in terms of the inflation number. I'm just talking in terms of government expenditure, the Treasurer says it's not a big part of the mix here, that there are some temporary factors at play in terms of the spike in inflation today, and no doubt you'll be trying to prosecute this case, or the Opposition will in Question Time this afternoon.

 

ANGUS TAYLOR:

 

Well, we've seen three and a half years of temporary Kieran from this Treasurer, and he keeps putting band aids on a bullet wound, but he's not dealing with the underlying bullet wound. I mean, this is and we keep seeing this surging inflation – a tax on hard working Australian households that they've never voted for. That's what inflation is. It sucks away the purchasing power of their incomes, and there's enormous pain…

 

KIERAN GILBERT:

 

But we've got that combined, you said three years. I mean, it's come down from over 6% when they took office.

 

ANGUS TAYLOR:

 

Look, you know, what we see is that they can't get it back into that target range on a sustainable basis. They said they'd get there. It's not getting there. They’ve failed in their attempts, time and time again. And the reason is actually very clear. We have productivity going backwards. Productivity going backwards, as this government wraps our economy in red and green tape, and we've got surging government spending, and those two are a deadly cocktail. And the Reserve Bank, as a result, can't get interest rates down, and we've got this inflation tax, which won't go away, and Australian households are paying a high price.

 

KIERAN GILBERT:

 

So, given that green tape you spoke about, is it incumbent upon the Opposition to get this deal done in terms of environmental law…

 

ANGUS TAYLOR:

 

To add a whole lot more green tape?

 

KIERAN GILBERT:

 

Well, no, that's to do what Graeme Samuel suggested isn't it?

 

ANGUS TAYLOR:

 

Hang on. I mean, Labor is going a lot further on some of these areas than was suggested, and we want a sensible pathway forward. We do want to make sure that our environment is protected, but we've got to make sure we get jobs and investment. And investment is the key Kieran if we want to have a growing economy with rising productivity, rising real wages, rising incomes; then we need investment, and that means you've got to encourage the private sector to invest, government investment will make the situation worse. We won't achieve that unless we actually have streamlining of environmental regulation and right now, that's not what’s being proposed.

 

KIERAN GILBERT:

 

Jim Chalmers has argued this week that in terms of certainty on investment, your position on net zero would be the worst scenario possible. It would drive a wrecking ball through a lot of that investment, is how he described it.

 

ANGUS TAYLOR:

 

What absolute nonsense. Look the government has managed to deliver a 37% increase in energy prices in the last 12 months, that's what came out in the inflation data today, 37%. I mean, honestly, this Treasurer has absolutely no credibility when it comes to energy prices.

 

KIERAN GILBERT:

 

Angus Taylor, we appreciate your time, thanks.

 

 

ENDS.