Tuesday, 10 November 2026

Topics: Albanese-Chalmers psychodrama; inflation; interest rates; spending; Qantas.

E&OE……………………..

James Willis: Tim Wilson is the Shadow Treasurer in the Opposition, the federal Opposition. He's on the line for us this afternoon. Mr Wilson, thanks for your time.

Tim Wilson: G'day James. How are you?

James Willis: Great to have you with us. Can I just ask up front if you can comment on the speculation we've seen today? The likes of Murray Watt, the Environment Minister, saying people need to stop leaking out of the Albanese government, particularly leaks against the Treasurer, Jim Chalmers. You've also had a number of people back the Treasurer in, including the Prime Minister, Anthony Albanese. The Assistant Treasurer, Daniel Mulino, said that despite all people making all sorts of comments, Dr Chalmers was absolutely safe in his job. And Andrew Charlton has said today on Channel 7 that he has no interest in the Treasury job in the future. What say you?

Tim Wilson: Well, the ministers doth protest too much. What we've had today is the Prime Minister delivering a living eulogy for the Treasurer, and the fact that he's so on the ropes, so on the nose with the Australian people, that the Prime Minister has to back him in says that it's just before he's going to take the big fall.

James Willis: So, in relation to where we're going wrong here, you've had every Labor minister come out in the last couple of weeks and say this is global factors, have a look at other economies, have a look at the Middle East with petrol prices and things being too hot. But at the same time, when this same government was in opposition, Tim, they were the first to call out Scott Morrison and Jim Chalmers was saying there was an inflation fire, it was all Scott Morrison's fault, the supermarket shelves. And at the time, the Treasurer said that we didn't give a stuff about what was happening with inflation in other parts of the world. Now they're using the very excuses that they said were unacceptable when in opposition. What do you make of that?

Tim Wilson: Well, it shows you the hypocrisy. They said what they needed to do to get through an election. This Treasurer has a spending addiction, and that is the fundamental problem. This week the Business Council released a study that showed that 70% of Australia's inflation problem is homegrown. It's directly connected to the Treasurer's spending addiction, and that means that we continue to have high inflation. That's why interest rates are going up for Australian households, and that's why Australians are going to the supermarket and paying [more and getting] less. The Treasurer's right: Australians don't give a stuff about the international factors. What they want is their government to take responsibility, but we can't pay our mortgages with Jim Chalmers' excuses.

James Willis: Hey, in relation to the decision today by Qantas to move 850 Aussie jobs overseas. Now, it's always concerning, and I'm not defending Qantas here, but I just wonder, Tim, if this is a little bit of a metaphor for a growing issue in this country where it's just too hard to justify employing someone locally compared to overseas when you consider taxes, regulation, payroll tax, workers' compensation, all the levels of government and the regulations that come with that, and the unions and their role in business across the country. I mean, it's been very, very hard for business, either small, medium-sized, or the big guys, to justify employing a lot of Australians. It's very sad.

Tim Wilson: It is very sad, and our heart goes out to the workers who are losing their jobs. But this is what the government actually wants by design of their policy. We've had 2,500 jobs laid off at NAB, we've had over 1,000 laid off at Canva, and now we're seeing the same thing at Qantas because this government is wagged by its union tail, and as a consequence, it makes it impossible for businesses to employ Australians, back them in, skill them up, and give them a livelihood. You know, the Reserve Bank estimated that there would be an increase in unemployment of 5.1%. That's tens of thousands of Australians who are going to lose work over the next calendar year. You know, when families are struggling to pay their mortgage with a job, it would be a disaster if they lost their job and weren't able to keep their home, back their families, and of course remain financially independent.

James Willis: And just lastly, it's been so dishonest and disingenuous from the government, Tim, to be saying we've made all of these savings, but then when you consider, and you read the story in The Australian the other day, for the savings they've made, more than half of that has been spent. And people running household budgets say, "Well, hang on, if you want to save $30,000 for a holiday, that doesn't mean you say, 'Well, I've saved $30,000, but I spent $15,000 of that, so we only have $15,000 left to go to Bali this year.'" I mean, it doesn't work that way, and they're trying to be really tricky with the accounting and the forward estimates. It's been very, very dishonest, I think.

Tim Wilson: Very dishonest. And in fact, that article understates the spend. For every $2 they claim to have saved, they've gone on and spent $3. And so, what we're actually seeing is a government not just addicted to spending, but it has a real impact because while households are being told to pull their belt in, the government is refusing to do the same. They're spending more money than they claim they're saving, and that's just putting more pressure on inflation, more pressure on interest rates, particularly for households and small businesses who are drowning trying to keep their doors open. And of course, that means that Australians are going to the supermarket, they're paying more, and they're getting less.

James Willis: Tim, we appreciate your time. Thanks for joining us.

Tim Wilson: Thanks, James.

[ENDS]