E&OE TRANSCRIPT
Topics: Reserve Bank of Australia; Interest rates; Antisemitism; NSW Health workers’ video.
KARL STEFANOVIC, HOST: Welcome back to the show. The RBA is poised to cut interest rates today in a move that would bring much needed relief to households and spur Anthony Albanese to finally call the Federal election. Joining us now to confirm those details, Minister for Social Services Amanda Rishworth and Nationals Senator Bridget McKenzie. Amanda, just do it already. Everyone's sick of talking about it. Rates go down, call the election. Let's get on with it.
AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Oh, look, you know, as I've said many times, calling the election is above my pay grade. But it's no surprise to the Australian people that there is an election coming. Our last election was three years ago in May, and so we're due for another election in the country. And I think you'll find out, Karl, when I find out.
KARL STEFANOVIC: Boy, oh boy, you guys need this if you don't get it, are you cactus?
AMANDA RISHWORTH: Of course the RBA is completely independent and it will make its decisions based on the economic conditions, not on politics. But what I would say is our Government has done everything we can to push down or put downward pressure on inflation, ensure that wages are rising and that we have low unemployment. This has been a really important focus for us, at the same time giving cost of living relief. So, our focus has been absolutely on the economy and we haven't been doing what Peter Dutton's been doing, which is somehow arguing that the RBA should keep its interest rates higher. That’s what he’s been out spruiking. He's cheering against Australian people.
KARL STEFANOVIC: Bridget, Peter Dutton is claiming inflation would have been lower under a Coalition government. But according to Newspoll in today’s Australian voters are not buying that. They aren’t stupid you know, voters.
BRIDGET MCKENZIE, NATIONALS SENATOR: No, I agree, Karl. And to have to listen to Amanda somehow re-spin the last two and a half years where Australians have had to find an additional $50,000 on an average mortgage. That's money they're not going to get back no matter what happens today. You've had the Labor Party out trying to bully the Reserve Bank Governor again yesterday. And I note Amanda's toeing Jim's lines. But the backbench wasn't yesterday. We know that inflation has stayed longer and has been higher than it's had to be in comparable countries around the world where rates started cost Australians were going down eight months ago, Karl.
KARL STEFANOVIC: Australians don’t buy it. Australians don't think that Peter Dutton would have made a hell of a lot of difference in regards to that.
BRIDGET MCKENZIE: Well, the reality is economists aren't wrong. It's not Bridget McKenzie with her maths and phys ed degree, or Amanda with her psychology degree. It's actual economists across the country have been saying that Labor's spending profile over the last two and a half years, that has meant that homegrown inflation has been higher for longer than it has to be. It means mortgages have stayed higher. But if you want to talk about throughout the economy - food, energy prices, insurance, all those other things have been higher for everyday Australians.
AMANDA RISHWORTH: If you want to look at what economists have said, the COVID report said that inflation peaked two percentage points higher as a result of the previous Government’s action. We are doing what we can to support Australians with cost of living. We are not cheering to keep interest rates higher which is what Peter Dutton has been doing. He’s playing politics with this. We are getting on with the job.
BRIDGET MCKENZIE: That’s not true, Amanda.
KARL STEFANOVIC: The Muslim Vote has partnered with an extremist group claiming these antisemitic comments were manufactured to serve a political narrative. Take a look.
[Cuts to NSW Health workers’ video].
KARL STEFANOVIC: Funding. Should it be stripped of any organisation who signed up to this rubbish?
BRIDGET MCKENZIE: Yes.
KARL STEFANOVIC: Amanda?
AMANDA RISHWORTH: Well, this is an absolutely vile and sickening video.
BRIDGET MCKENZIE: What are you going to do about it?
AMANDA RISHWORTH: We’ve just passed the strongest hate laws.
BRIDGET MCKENZIE: You were dragged to that.
AMANDA RISHWORTH: Bridget, it was not long ago that you were actually wanting to water down hate laws in this country.
KARL STEFANOVIC: Hang on, hang on, hang on. Bridget, Bridget, Bridget. I just want Amanda to answer that question. Just if I can. Would you strip them of funding?
AMANDA RISHWORTH: You just don’t need to be political about that. Look, I want to be really clear. There is no place for antisemitism in this country. The police are investigating it. These nurses have been deregistered. It is appalling and I think ordinary Australians would feel it.
KARL STEFANOVIC: Would you strip them of funding, any group that signs up to this?
AMANDA RISHWORTH: I think, quite frankly, this is disgusting and appalling. It needs to be investigated. It has been condemned. Rightly so.
BRIDGET MCKENZIE: It's a public letter with mainstream organisation who've signed up to it. Are you going to cut their grant funding? Amanda, it's a simple yes or no. People are sick of the rhetoric - the ‘antisemitism has no place in Australian society’. So do something about it. Say you'll cut the funding and that will send a clear signal.
AMANDA RISHWORTH: Bridget, we have done something about it. We have done a lot of things about it. It is unacceptable for you to be saying that. And Bridget hasn't actually taken a stand here and said what her party would do.
KARL STEFANOVIC: All right. You'll cut the funding, will you, Bridget?
BRIDGET MCKENZIE: Absolutely.
KARL STEFANOVIC: Ok. There you go. Thank you, ladies. Have a good day today.