Shadow Treasurer Angus Taylor has labeled the Federal budget as a ‘cruel hoax’, saying it’s also short-sighted, touting the Coalition would focus on housing supply and nuclear energy instead of ‘handouts’

Published Mar 26, 2025, 3:42 AM
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Joining me on the line right now is the Shadow treasurer Angus Taylor. Good morning to you.

Good to be with you, Katie. Thanks for having me.

Yeah, thank you so much for your time. Now, I understand that Labour's now introduce those tax cuts to Parliament this morning. It's looking like it's an attempt to sort of force a swift vote. Where are things at.

Well, they're trying to push it through the Parliament as fast as they can, but that's because there is a budget for the next five weeks for the election campaign, not for the next five years, which is for the future prosperity of all Australians. Really, what they're proposing is a cruel hoax. I mean, the idea that Australians will get back to where they were when Labor took government by giving them seventy cents a day in over a year's time from now. It's just ridiculous. I mean, this is not responsible economic management. We know the answer to getting Australians ahead, getting their standard of living back to where it was when Labor came to power as quickly as possible is to have a strong economy. Strong economic management is the answer, and that means affordable reliable energy, fixing our housing supply, making sure that we get rid of unnecessary waste, slashing red tapes, he businesses can invest. We need the key industries up in your part of the world, investing and able to create jobs and at the same time being strong on crime. And that is what Australians want. That's what they need, and that's what this budget should have been about. Sadly it wasn't. Well.

Look a lot of people really, as I said earlier, scratching their heads wondering just how much they are going to receive in tax cuts. I know Madeline King had said to us this morning it's fifty dollars a week. But you know, from what we saw last night, I think that's sort of you know, the government adding up all of the tax cuts that they've announced rather than just the ones that were announced overnight. Either way, is that something that the Coalition is going to support when it comes to that vote.

Now, what we're no, absolutely, seventy cents a day a year from now is not the answer. There's a better answer than that. Affordable reliable energy by pushing down electricity prices, making sure we've got housing costs that are affordable for all Australians, whether you're a renter or a young Australian trying to buy a house, paying off your mortgage, putting downward pressure on both inflation and interest rates. Look, this is good old fashioned economic management. As the Liberal Party has always been strong on this. It's what we believe in. Labor thinks the answer is handouts. It will never get there effectively. What's happening is Labour's putting all of this money on the credit card, one hundred and seventy billion dollars of ready ink over the next five years in this budget. That's six thousand bucks on the credit card for every Australian and we've all got to pay for that. There's no such thing as free money. But that's how Labor treats it because they're trying to bribe Australians in an election campaign. This really is a cruel huax.

You spoke, am I going to go about energy and you know, and that is obviously a big issue for a lot of Australians. One of the things that the Coalition has spoken quite a bit though about is nuclear energy. It does seem to be something that some Australians are worried about that it's maybe the policy that is going to tip them the other way to not vote for you.

Guys, Well, I think Australian's one affordable, reliable power. I mean I really do. And in the shorter term, we know that means having a strong natural gas industry alongside the growth in renewables that will continue, and that the NT is absolutely crucial to that. We've got to make it easier to get gas out from under the ground, both for our domestic markets and export, and that will put downward pressure on our prices and at the same time create jobs, opportunities and pay taxes, and that is absolutely crucial. And then the longer term baseloads zero emissions, and this is incredibly important, nuclear powered zero emissions. It's baseload, so it doesn't need to be backed up like renewables do, and we can use the existing power lines, which means we don't have to spend tens of billions of dollars labor wants to spend. And that's better for everybody, certainly better for your hip pocket because you pay less.

Has there been some work done on where those potential nuclear waste dumps could be because that's something again that some Territorians are worried about that we might end up with one here.

Yeah. Look, we have to deal with the waste issue anyway because we're taking on nuclear submarines. That's bipartisan and the Government is actually working on that, so it's this is not a controversial issue. We know there are lots of options for nuclear waste in Australia. Happily, we're very stable country in terms of we have very few earthquakes and so there are good places to put nuclear waste. And it's long been a view that this is something that Australia can do well. Bob Hawk was always a great proponent of Australia being able to store nuclear waste. But we know there are many options. Labor is working on this now and as I say, it's a bipartisan approach to it.

Can you rule out forcing the Northern Territory to have one?

Yeah. Look again, I'm not going to get into options on locations because I say the government is working on this because it's got to as part of its policy, bipartisan policy on nuclear submarines. So like, what I can absolutely assure you of is that any location I think both sides of politics want to make sure that it's safe, it's secure and that no community will be neededbly impacted.

If you have just joined us on the show with me right now, is the Shadow treasurer Angus Taylor? Angus, can you tell us? You know? I know that you've pointed out the reasons why the Coalition aren't going to be supporting the tax cuts that the Labor Party obviously announced overnight in their budget in the budget reply. I'm not expecting you to overshadow or to announce before before Peter Dutton does. But what can we expect when it comes to cost of living measures and trying to help people that are doing it tough, because I think it is the biggest issue for Aussie's when they go to the polls whenever that may be.

You're absolutely right. I mean, we've sent a collapse in our standards of living and that's been driven by prices going up much faster than incomes, interest rates staying too high for too long, and people are paying way more personal income tax than they were despite the so called tax cuts. I mean, the idea that there's been tax cuts is a complete myths. People are paying way more in tax than they were two and a half years ago. So what will you see from us, which was your question. A strong focus on economic management, delivering affordable, reliable energy to bring down energy bills two hundred and seventy five dollars that was promised by labor. There's no prospect of that appearing anytime soon. So that's crucial. Fixing our housing supply which is out of control, making sure immigration is balanced with our housing supply, cutting unnecessary waste so that we're not crowding out private sector investment, and backing small business. I mean, small businesses are backbone of our communities. Labor has always disliked it because they can't unionize it, and yet it's so important for employment, for opportunities, for prosperity for all of us. And that's why we've already announced an important tax cut that will encourage small businesses to invest in their local communities.

Now, in terms of the Northern Territory, there's been quite a bit of argie bargie this morning. We had Madeline King on the show. As I mentioned a little while ago, we've also spoken to the Northern Territory Treasurer, Bill Yan Luke Gosling. The member for Solomon's been in contact. You know, what we can see is that it looks as though there's about two hundred million dollars in additional funding for the Northern Territory for the Stuart Highway. A lot of us unable to see whether there is much else for the Northern Territory at this point in last night's budget aside from what we already knew we were going to be getting from the Coalition. Is the Northern Territory going to be a focus? Can we expect anything in your budget? Reply?

Yeah, Look, I'm not going to make the announcements now. Obviously that leaves that to Peter and others.

We will always try always, I know you.

Will and everyone does. But what I will say is it is a priority absolutely. I mean, we see the opportunity in the Northern Territory for everyone who lives there, but for all Australians. I mean, I think there's enormous potential for further investment. And most importantly, we want good jobs. We want rising incomes, we want the standard of living to rise. We want to deal with those cost of living issues that absolutely are bearing down on people, as you rightly point out, and the territory is a real focus for us. We've got great candidates and members that just in here and others who are up there fighting hard for the things that I think really matter for Australians.

When is the selection going to happen?

Ah, it's a great question. I don't know. I feel like we've me in a campaign since the beginning of the year, Katie, but it just keeps I think most of the trains would rather get on with it, but Alban Easy wants to keep stringing it out, so let's see.

Yeah, we all want it to happen sooner rather than later. Shadow treasurer Angus Taylor. Really good to speak to you this morning. Thanks so much for your time.

Thank you, thank you,