Monday, 25 May 2026

Transcript - Interview on Channel 9, Today Show

Topics: Federal budget, Capital gains tax, Liberal Party

E&OE...

Karl Stefanovic: Welcome back to the show, great to have your company this morning. Well, the coalition could be forced to team up with One Nation after bombshell polling revealed the once-fringe party could become the federal opposition. Joining us to discuss today's headlines is Shadow Treasurer Tim Wilson and Nine papers' chief political correspondent Paul Sakkal. Morning guys, nice to see you bright and early. So Timmy, you've said you'll never, ever, ever get into bed with One Nation, but beggars can't really be choosers, can they?

Tim Wilson: What I’ve said consistently is that I don’t advocate for it, nor wish to. I want to have a Liberal government that’s led to define the future of this country and we have to do better to get there, obviously based on opinion polling, and we will, because the country needs a change in government desperately.

Karl Stefanovic: Didn’t look like that over the weekend. Never, ever.

Tim Wilson: Well the polling said that obviously there’s sea change but we’ve got to be realistic about this. It’s a... it’s a looking at different demographics and then trying to re-populate it all over the country. You know on that poll, I still hold my seat, so obviously there’s something that I take a gleam of optimism out of it.

Karl Stefanovic: Every man for themselves! Every man for himself!

Tim Wilson: But... but the key thing is we’ve got to make sure that we provide a bold and confident vision for the future of this country because I want people to vote for us to build out a better future for Australia.

Karl Stefanovic: Alright Paul, is there a chance he might go over to the Teals in this new party? I mean it looks interesting this morning.

Paul Sakkal: I suspect Tim’s face will be on the pinatas at the launch party. He might send in some of his spies but I don’t reckon he’s a look in. I do wonder if any of his colleagues might have a think about it. I think to date there have not been any Moderate Liberals who’ve told the Teals that they’ll shift over. Tim what do you reckon?

Tim Wilson: I don’t think there’s any chance of that because I think no one actually takes this party seriously. It’s about them achieving their own survival, not the good of the nation.

Karl Stefanovic: Alright Tim every man and his dog are bagging the CGT changes including Peter Costello this morning. It should be happy hunting ground for you this week, I mean it should be.

Tim Wilson: Absolutely Karl, but it’s not because it’s good politics. It’s because what the government’s done is bad policy. You’ve got young Australians who are trying to save for their first home deposit and they’ve been knee-capped by this government. You’ve got people trying to get ahead and save for their retirement and they’ve been knee-capped by this government. The government seems to now be sort of going a bit weak at their own knees about the changes and looking at how they might carve it back but the damage I think unfortunately has already been done to confidence.

Karl Stefanovic: Paul there is some speculation that some of those changes might be wound back, some narrow changes expected but as you saw in the papers today as well big property falls expected, 9% for Melbourne and Sydney in some of the papers this morning. It’s... it’s not going all that well for the government, this.

Paul Sakkal: Yeah the government’s having to think about whether to remove the discretionary testamentary trust element which will take months because there’s a consultation. This is what’s been branded a death tax, somewhat misleadingly, but there’s a bit of truth to it as well. On the CGT changes, they intend to plough ahead and make some minor tweaks which will not ameliorate the broader concern. This has brought life back into the two-party fight. It’s brought the Liberals back into the game and given them something to fight about. The question is whether people are still listening to the Liberals and whether they can get their voice into the conversation when it’s dominated by the radicalism of One Nation.

Tim Wilson: Okay well I can tell you right now that small businesses of this country know that they are in the crosshairs of the government while big tech companies with the support of the Teal party seem to be negotiating their way out of these exemptions. This is the government backing in big business but crushing small business.

Karl Stefanovic: Alright, maybe this is why Albo got a little teary over the weekend. Have a look.

Anthony Albanese: We are reforming negative gearing and capital gains.

Karl Stefanovic: Maybe he’s had a look at his house prices Timmy.

Tim Wilson: I don’t think that’s it. I think the Labor party always salivates at the opportunity to punch down at self-starting Australians trying to get ahead and this is the politics of resentment writ large through government policy and on the back of broken promises.

Karl Stefanovic: Okay Paul, Bridget McKenzie in a little hot water over these expenses... it keeps coming up this doesn't it?

Paul Sakkal: You just don’t need to do this. Yes. It was $800. She tacked another meeting onto it. Bridget’s got great energy, can be a great spokesperson for the party. She’s compelling to watch as we’ve seen on this show but sometimes finds herself in tricky scenarios and it’s a little bit of a pattern.

Karl Stefanovic: Looked like a great wedding, as a sidebar.

Paul Sakkal: Did, I saw a video of the dancing. It looked like they just had a vibe. She committed.

Karl Stefanovic: Timmy, any skeletons?

Tim Wilson: No, but the focus always has to be on making sure we’re spending public money appropriately and doing it consistent with the rules. But the difference between the rules and the pub test, there’ll always be a gap and I think that’s this clearly fits within that one.

Paul Sakkal: And Karl, if I could just jump in on one thing, the question you asked at the start about you know beggars can’t be choosers on Tim joining One Nation. That snapshot poll from the weekend is a point in time. We’re two years away from an election so people aren’t really thinking about who should govern yet. And the biggest myth put forward by One Nation at the moment is that they’re the kind of salvation of the Liberal Party. The Liberal Party needs to tack onto them. One Nation when you talk to them privately, their goal is much more clear cut. It’s to kill the Liberal Party and replace it. So that question... I totally, I understand where you’re coming from, it’s a great question, but that’s the idea One Nation wants everyone to think.

Karl Stefanovic: There you go, Timmy how do you feel about that?

Tim Wilson: Ah well, they have no, I’m a great survivor in politics. Sometimes people even think they’ve taken me out and I still get back up and keep fighting. And I’m going to make sure we fight for the future of this country because I don’t want a Labor government and I don’t want a One Nation government.

Karl Stefanovic: Good to talk to you guys, thank you so much. Have a good week.

[ENDS]