This week's podcast guests are Canberra Bureau Chief Tom McIlroy and Foreign affairs and Defence correspondent Andrew Tillet. They join Lisa Murray and Phil Coorey to discuss the coalition's plan to increase defence spending, the erosion of trust in institutions and the potential risks of following American political trends in Australia.

This week's podcast guests are Canberra Bureau Chief Tom McIlroy and Foreign affairs and Defence correspondent Andrew Tillet. They join Lisa Murray and Phil Coorey to discuss the coalition's plan to increase defence spending, the erosion of trust in institutions and the potential risks of following American political trends in Australia.

A weekly podcast from The Australian Financial Review that examines the biggest stories in business, markets and politics, and why they matter, explained by the best financial journalists in the country.

Search The Fin and follow us wherever you get your podcasts.

A weekly podcast from The Australian Financial Review that examines the biggest stories in business, markets and politics, and why they matter, explained by the best financial journalists in the country.
Search The Fin and follow us wherever you get your podcasts.

A weekly podcast that examines the biggest stories in business, markets and politics, and why they matter.

The Fin

All the latest episodes from all of the AFR's podcasts. 

All the latest episodes from all of the AFR's podcasts.&nbsp;

Latest episodes 

Election 2025: Why Albo has a spring in his step and Dutton's big bet on defence

This week, editor-in-chief James Chessell and Victorian political correspondent Sumeyya Ilanbey on the project that has come to sum up Victoria’s problems, whether it is too big to cancel and how it will play into November’s state election.

This podcast is sponsored by Elston.

Further reading:
The secret tax that says everything about Victorian Labor
The revelation that Labor secretly introduced a tax on public transport users is the latest chapter in a saga in which political momentum has trumped fiscal responsibility. (edited) 
Vic Labor’s secret tax exposes fiscal transparency void
The opposition and leading economists say a charter of budget honesty is needed after the Victorian government introduced a new tax without telling the public. (edited) 
Carroll’s budget scalpel misses the $34b elephant in the room
Premier Ben Carroll is looking to scrape off as many costly, wasteful barnacles he can find before the November 28 state election

This week, editor-in-chief James Chessell and Victorian political correspondent Sumeyya Ilanbey on the project that has come to sum up Victoria&rsquo;s problems, whether it is too big to cancel and how it will play into November&rsquo;s state election.
This podcast is sponsored by <a href="https://www.elston.com.au/?gad_source=1&amp;gad_campaignid=19236343106&amp;gbraid=0AAAAADmBLJWPnwDE0sTFfKnDulKIuI-HZ&amp;gclid=Cj0KCQjwkt_UBhDMARIsALpnOAwakZIltK4DHLGxRwsVeWhLAHCKGzlSCEOaIWtPRQbPfsYeUJeNWE8aAh-EEALw_wcB">Elston</a>.
Further reading: <a href="https://www.afr.com/politics/the-secret-tax-that-says-everything-about-victorian-labor-20260827-p60s9b?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">The secret tax that says everything about Victorian Labor</a> The revelation that Labor secretly introduced a tax on public transport users is the latest chapter in a saga in which political momentum has trumped fiscal responsibility.&nbsp;(edited)&nbsp; <a href="https://www.afr.com/politics/vic-labor-s-secret-tax-exposes-fiscal-transparency-void-20260831-p60t23?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">Vic Labor&rsquo;s secret tax exposes fiscal transparency void</a> The opposition and leading economists say a charter of budget honesty is needed after the Victorian government introduced a new tax without telling the public.&nbsp;(edited)&nbsp; <a href="https://www.afr.com/politics/carroll-reels-in-fishy-andrews-allan-era-scheme-20260901-p60tbr?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">Carroll&rsquo;s budget scalpel misses the $34b elephant in the room</a> Premier Ben Carroll is looking to scrape off as many costly, wasteful barnacles he can find before the November 28 state election

Too big to cancel? The project that sums up Victoria’s problems

Associate editor Primrose Riordan and courts correspondent Max Mason on why Jon Adgemis is struggling to keep the details of his $1.8 billion financial collapse secret and what his story tells us about the private credit market.

This podcast is sponsored by Westpac.

Further reading:
Jon Adgemis thought he was winning. Then his CFO took the stand
The failed pub baron has been trying to keep the details of his $1.8 billion financial collapse secret. But a chatty former accountant is making that difficult.
Adgemis’ right-hand man alleges tax con funded ‘exorbitant lifestyle’
The business affairs of the former KPMG deal maker-turned-bankrupt are being scrutinised, with allegations of “sham arrangements” to pay for his spending.
From playboy pub baron to bankruptcy: Inside Jon Adgemis’ $1.8b fall
From KPMG consultant to “glamour banker” with the “Midas touch” to junk-debt-laden bankrupt. It’s been a wild ride for Jon Adgemis and Public Hospitality Group.

Associate editor Primrose Riordan and courts correspondent Max Mason on why Jon Adgemis is struggling to keep the details of his $1.8 billion financial collapse secret and what his story tells us about the private credit market.
This podcast is sponsored by <a href="https://www.westpac.com.au/">Westpac</a>.
Further reading: <a href="https://www.afr.com/companies/retail/jon-adgemis-thought-he-was-winning-then-his-cfo-took-the-stand-20260813-p60o1f?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">Jon Adgemis thought he was winning. Then his CFO took the stand</a> The failed pub baron has been trying to keep the details of his $1.8 billion financial collapse secret. But a chatty former accountant is making that difficult. <a href="https://www.afr.com/companies/retail/where-d-the-money-go-adgemis-cfo-flips-on-former-boss-20260812-p60nl5?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">Adgemis&rsquo; right-hand man alleges tax con funded &lsquo;exorbitant lifestyle&rsquo;</a> The business affairs of the former KPMG deal maker-turned-bankrupt are being scrutinised, with allegations of &ldquo;sham arrangements&rdquo; to pay for his spending. <a href="https://www.afr.com/property/commercial/from-playboy-pub-baron-to-bankruptcy-inside-jon-adgemis-1-8b-fall-20251002-p5mzgv?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">From playboy pub baron to bankruptcy: Inside Jon Adgemis&rsquo; $1.8b fall</a> From KPMG consultant to &ldquo;glamour banker&rdquo; with the &ldquo;Midas touch&rdquo; to junk-debt-laden bankrupt. It&rsquo;s been a wild ride for Jon Adgemis and Public Hospitality Group.

How to go from pub baron to Australia’s biggest bankrupt in 10 years

Political editor Phillip Coorey on the government’s bet on gambling reform, the problem with "brand Albo" and why there’s nothing funny about the melon incident.

This podcast is sponsored by Westpac.

Further reading:
PM bets on stability pitch as popularity falters
Anthony Albanese celebrated a significant milestone on Friday, but voters have learnt stability and steadiness don’t preclude poor taste.

Migration or superannuation, the spectre of Hanson hangs heavy
Pauline Hanson keeps setting the agenda, whether she means to or not. The government and Coalition are scrambling to follow.

‘Policy capture’: The week that exposed Labor’s gambling ties
An explosive week of public hearings exposed the harms of the gambling industry. So why isn’t the government following its own advice on advertising bans?

Political editor Phillip Coorey on the government&rsquo;s bet on gambling reform, the problem with "brand Albo" and why there&rsquo;s nothing funny about the melon incident.
This podcast is sponsored by <a href="https://www.westpac.com.au/">Westpac</a>.
Further reading: <a href="https://www.afr.com/politics/federal/pm-bets-on-stability-pitch-as-popularity-falters-20260812-p60ns6?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">PM bets on stability pitch as popularity falters</a> Anthony Albanese celebrated a significant milestone on Friday, but voters have learnt stability and steadiness don&rsquo;t preclude poor taste.
<a href="https://www.afr.com/politics/federal/migration-or-superannuation-the-spectre-of-hanson-hangs-heavy-20260817-p60ow9?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">Migration or superannuation, the spectre of Hanson hangs heavy</a> Pauline Hanson keeps setting the agenda, whether she means to or not. The government and Coalition are scrambling to follow.
<a href="https://www.afr.com/companies/games-and-wagering/policy-capture-the-week-that-exposed-labor-s-gambling-ties-20260806-p60m1y?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">&lsquo;Policy capture&rsquo;: The week that exposed Labor&rsquo;s gambling ties</a> An explosive week of public hearings exposed the harms of the gambling industry. So why isn&rsquo;t the government following its own advice on advertising bans?

Election 2025: Why Albo has a spring in his step and Dutton's big bet on defence

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