Wednesday, 29 July 2026 

Topics: Inflation, RBA Governor’s speech, interest rates, Victorian politics, CFMEU, One Nation, polling

E&OE………

Peter Stefanovic: And that leads us quite nicely to the Shadow Treasurer, Tim Wilson. Tim, thanks for your time this morning. Good to see you. So, given what Michele Bullock had to say yesterday, do you get a sense that another rate rise is coming?

Tim Wilson: Well, certainly that's a concern of the Australian people based off those comments. But the real issue is why there's this risk. And it's because the Albanese government is daring the Reserve Bank to increase inflation because they keep borrowing from tomorrow and spending today. Every time they stoke inflation by spending more, they're forcing the hand of the Reserve Bank Governor, and that's basically what was outlined yesterday.

Peter Stefanovic: So, if you get another bump up in inflation today, though—this is for the month of June—how much of that, though, would be caused by factors out of the government's hands? i.e., the resurgent war in Iran, and the corresponding more expensive fuel?

Tim Wilson: Well, as your own report just said, the underlying inflation problem is the problem that's driving up persistent interest rate hikes under the Reserve Bank Governor, because the Reserve Bank Governor is being dared by the Albanese government to increase rates. They cannot stop their spending addiction. They're inflation junkies, and that's why the Reserve Bank Governor has been forced into this position.

Peter Stefanovic: Sure, but Iran, is it a factor in your view?

Tim Wilson: Of course, Iran is a transitional factor. We saw that at the start of the year, and, of course, it's re-emerged. But underlying inflation continues to be the persistent problem. When you've got it at 3.6%, you have a problem that existed before Iran, it continues during the Iran crisis, and it will continue if Iran ended tomorrow.

Peter Stefanovic: So, do you think this kind of justifies the government's decision not to extend the fuel excise cuts?

Tim Wilson: Well, the problem with inflation in Australia is not connected to Iran. Iran peaks it in a temporary phase. But the underlying problem is the continued spending of the Albanese government. And until they get their inflation addiction under control, and their spending addiction under control, Australians will continue to live with the consequences of higher inflation and higher interest rates.

Peter Stefanovic: But do you support the government's decision not to extend those cuts, or do you think they should be extended? Talking about the fuel excise here.

Tim Wilson: We always talk specifically about any fuel excise being offset with inflation offsets. The government is the one that has provided the fuel excise cut without inflation offsets, so they have continued to double down on their active inflation agenda.

Peter Stefanovic: Okay, there's a few other issues I want to get to, including Victoria, but first, our latest poll. I want you to have a look at this, Tim. You might have seen it already. Here it is here: the three main parties now neck and neck. This is to our latest Pulse survey. So, with that said, I mean, if you're going to join Coalition and One Nation, you're in pretty good shape there, it seems. So, if it means you could form government, would you formalise in any way an agreement with One Nation?

Tim Wilson: Well, my focus is making sure that we have a majority Liberal-led government. That is my focus. And every time we have this speculation, it's prejudging arrogantly the will of the Australian people and what they are going to do after the poll. The focus should be on how we maximise the number of Liberal MPs elected so we do not need to govern with anybody else.

Peter Stefanovic: All right, but other names have declared themselves. I mean, Taylor's a no, Bragg's a yes, Hastie's a no—we know that—Antic’s a yes. What's Wilson?

Tim Wilson: Wilson has consistently been: let's defeat Labor, let's get the majority Liberal MPs elected, so we go and govern and define not just a Liberal government, one that defines the future of Australia. Because what Australians need now more than ever is hope for the future, confidence. I mean, we've seen in Victoria the problems of what happens when you have the corrupt Labor model continue to eat into the future of the equity of the state, and the corruption is now endemic and is going to have to be cut out.

Peter Stefanovic: I'll get to that in a moment. Your leader, Angus Taylor, he's been caught up in ICAC over donations. How damaging is that?

Tim Wilson: It's not my place to comment on ongoing investigations or inquiries like ICAC are doing. They should be left to do their job.

Peter Stefanovic: I mean, but are you aware of any donation that's actually been made or not?

Tim Wilson: I've only read the media reports like anybody else. The one thing I do know is that the Prime Minister said he wouldn't accept donations from the CFMEU, then has done so. I think it's time we had a royal commission, a federal royal commission, into CFMEU corruption, not just one in Victoria.

Peter Stefanovic: Just a final one. Let's get to the new Victorian Premier, Ben Carroll. Do you think this changes the equation at all for Labor in Victoria?

Tim Wilson: No, because Victorian Labor has become a criminal cartel, and you can change the Don, but it doesn't change the fact that it's a criminal cartel that's been governing our state. And that is how Victorians feel. The bigger issue is that model has been exported to Canberra, and it's time we had a federal royal commission into the corruption of the CFMEU. The Prime Minister should call one. He should follow the lead of Ben Carroll because federal Labor is just as much caught up in CFMEU corruption as the state government.

Peter Stefanovic: What about the Suburban Rail Loop? Ben Carroll says he might be looking at that. I mean, if that's junked, the taxpayers kicked in billions towards that from a federal standpoint as well. What happens to that money? Does it get returned?

Tim Wilson: Well, we don't really know because when the federal government has kicked money into projects like the SRL, they've done so knowingly that the CFMEU has operated those sites with organised crime. That's why we need a federal royal commission into CFMEU corruption to expose the connection with the Albanese government as well as, of course, the state Labor government.

Peter Stefanovic: Okay, that's Shadow Treasurer Tim Wilson. Thanks for your time as always, Tim.