Wednesday, 4 November 2026

Topics: interest rates; inflation; spending; One Nation volunteer; crime; Victorian politics.

E&OE……………………..

Jaynie Seal: The Reserve Bank's Governor Michele Bullock has warned the country will feel like it is in a recession for the next year following yesterday's announcement of a fifth rate rise this year. For more, joining us live is Shadow Treasurer Tim Wilson. Great to see you, Tim. It's the 17th rate rise since the Albanese government came into power in 2022. That's a lot.

Tim Wilson: That's a lot, and more importantly, it's five this year. Most advanced countries or developed countries have had one interest rate hike this year. Australia has had five. That means that Australian households are really feeling the pressure, but the question ultimately comes back to why. And the problem is we've got a government with a spending addiction and a Treasurer who can't kick the habit. And until we see a change in the attitude of the government, there's going to be upward pressure on inflation and interest rates. Yesterday, the Reserve Bank Governor in announcing the fifth interest rate rise this year said that basically it's likely to stay there for the remainder of all of next year. So, Australian households are going to face really tough choices.

Jaynie Seal: You can't blame the government entirely on this, can you? I mean, you look at the situation that's happening in the global situation with the two wars, for example.

Tim Wilson: Well, that's why other countries have had one rate rise increase this year, and that's why we've had five this year. There's a very clear contrast. And ultimately, it's about choices. The government has chosen not to respond to international events and pull their belt in and contain inflation. Well, now households are having to make choices. They're going to have to decide whether they can afford to send their kids on school excursions, whether they can afford birthday parties. The impact of this is real, and the human consequences are going to be real for the tough choices families are going to have to make because the government can't kick its spending addiction.

Jaynie Seal: Our Pulse poll shows that Opposition Leader Angus Taylor has overtaken the Prime Minister as preferred Prime Minister. What do you say to that?

Tim Wilson: Well, of course, it's always welcome to see positive news, but we've got a long way to go yet until the next federal election. What we know now is that Australians increasingly don't trust the Prime Minister. They don't see him as the answer to the problems. In fact, they see him as the cause of a lot of the problems Australians are feeling, particularly the small businesses of our country, who are currently struggling to keep their doors open and stay operational. We have record small business insolvencies, we have record number of voluntary closures. Small business is doing it tough, that means the economy's doing it tough and families are doing it tough.

Jaynie Seal: One Nation leader Pauline Hanson is vowing to stand up to violent crime following the alleged attack in Victoria yesterday by a volunteer. What's your message to people as a leader on crime, violence, especially as we are in an election cycle?

Tim Wilson: Well, there's no place for violence, and particularly politically motivated violence. It doesn't matter what context it's in or the circumstances in which it appears. Unfortunately, this has become part of a culture, a permissive culture that has operated under the current Victorian Labor government. We know crime has been a consistent problem around violent home entries. I have it a lot in my electorate in Brighton and Beaumaris and Black Rock, where we're seeing with car thefts, etc. But if we want a fresh start for Victoria, if Victorians want hope, Jess Wilson hasn't been talking about being tough on crime for the past 24 hours, she's been talking about it every day of her leadership. Victoria desperately needs a fresh start, and being tough on crime is part of Jess Wilson's plan.

Jaynie Seal: How bad is it? What are you seeing?

Tim Wilson: What, in terms of crime? This has been going on now for years where in my electorate you've had violent home entries where people sleep with a baseball bat or a cricket bat next to their bed. Whole streets are taking up private security. There is no part of my electorate that hasn't been directly impacted by crime and threats within the community, and people are living in fear. That's why we need a fresh start. That's why we need a change of government, and we need one that's going to take crime for every Victorian seriously.

Jaynie Seal: Shadow Treasurer, Tim Wilson, great to see you. Thank you so much.

Tim Wilson: Thank you.

[ENDS]