Sarah Ferguson presents Australia's premier daily current affairs program, delivering agenda-setting public affairs journalism and interviews that hold the powerful to account. Plus political analysis from Laura Tingle.
Laura, so the Treasurer, he framed this budget with a primary focus of being careful with inflation. How do you characterise the political response to that single most important task?Essentially, you've got that line running from the Opposition that, you know, he's giving this $300 energy rebate to everybody and that's terrible, it should only be going to lower income earners.
The economy is not in a good shape and there hasn't been a huge stimulus but he's facing big criticism on the one hand, from places like the Financial Review for going on a spending spree even though he's delivered a surplus and at the other end for being parsimonious to people at the lower end of the ladder.
Which is really for the bigger aim of this which is to get the Reserve Bank to cut rates but they don't really want to say that quite out loud, so also the last time round it only went to people who received welfare support through things like JobSeeker or pensions. If they wanted to spread it to a lot of low- and middle-income households they had to find another way of doing it and that means it's easiest to give it to everyone.
LAURA TINGLE: I think the electoral politics, I've been a bit mystified by the suggestions that this is a pre-election budget. There's not a lot in it. We have got a lot of outrage out there because there isn't more for people. LAURA TINGLE: I think they're making the case it's not about the billionaires, it's about trying to - it is saying, "Look, everybody in the world is now doing this including the US. We have to look at having a viable industry base in this new age of AI and critical minerals. And to do that we want to make sure that people do provide, do start to invest in these areas." They're only going to be getting the tax credits.
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