Wednesday, 20 May 2026

Transcript - Interview with Sky News, First edition

Topics: Federal budget, small business

E&OE...

Peter Stefanovic: Joining us live now is the Shadow Treasurer, Tim Wilson. Good to have you with us this morning, Tim. So why do you think the government is fast-tracking its legislation?

Tim Wilson: Well, the government has made a complete trainwreck of this budget. They're trying to ram their changes through because they don't want Australians to organize and stand up and speak out about the consequence. Every time a small business of this country stands up and speaks out about this Prime Minister, they're revealing this government doesn't understand the economy, and where they want a government punching for them, they have a government punching at them.

Peter Stefanovic: So it’s... it's about damage limitation in your view.

Tim Wilson: It's absolutely about damage limitation, but it's also about contempt. The Prime Minister has shown utter contempt for the Australian people. He has clearly betrayed the public and the trust they gave him at the last election. But now he's using and abusing that trust to assault the very economic foundations of the country and the self-starters who stand up to want to get ahead.

Peter Stefanovic: Do you suspect a deal's been done with the Greens here? Therefore, you'd concede defeat?

Tim Wilson: I never concede defeat, and I always believe that Labor works with tricky deals with the Teals and the Greens because they always are focused on how they empower themselves. They are not interested in how they empower Australians. And as we've said, we will fight these changes and we will repeal them as necessary.

Peter Stefanovic: Sure, but I mean is this an instance where your... your paying the price for a lack of numbers in Parliament?

Tim Wilson: Well, we don't have the numbers in Parliament to stop it, that's true. But it's ordinary Australians who have stand up and stood up... uh... for their own interest. We've had so many people through our website, www.notthetax.com.au, of people telling their stories about how this budget is going to smash their livelihoods... and Australians are standing up and speaking out. That's why the government's numbers are so bad.

Peter Stefanovic: So, Julian Hill a moment ago suggested that a carve-out or some kind of arrangement would be made before the legislation is actually put to Parliament that would include a carve-out for startups. What are your thoughts on that, if... if that turns out to be true?

Tim Wilson: Well, so the government’s happy to support tech bros, but they're completely disinterested in the corner milk bar. I mean, what contempt does this Prime Minister and this government have that they turn around to people who have saved and sacrificed their whole lives, worked on the weekends, worked at nights, and done everything just to put themselves to be in a position to get ahead. And his only answer is to knee-cap them. And of course, the big donors to the Labor Party and those who have voice get a say, while they just get ignored.

Peter Stefanovic: So, Tim you've got a speech today where you'll be unveiling a plan that puts business at the heart of economic policy. What's the plan?

Tim Wilson: Well, we're focused on small business being at the heart of economic policy. Uh... and we've started the "Stand with Small" campaign at standwithsmall.org. In addition to that, we're... um... going to outline and consult on a new Small Business Act, which gives small business rights that they currently lack... um... to make sure that they are at the heart of economic policy for government. They're consulted, they're engaged, they're advocated for, and they're fought for.

Peter Stefanovic: So... what... what rights would you be talking about there that would help them in the long run?

Tim Wilson: Well, the first thing would be a right to be heard, to actually have a say in the economic institutions of our country, where they're currently denied.

Peter Stefanovic: Isn't that already happening?

Tim Wilson: No, not at all. Complete contempt, and this budget proves just how much it isn't happening. They don't have voices in different institutions from the Reserve Bank, uh... through to other government regulators in the way that they should, where big unions do. They don't have a right to bid the full extent of right to bid on government programs. We're going to fight for that.

Peter Stefanovic: Okay, also... uh... according to a report this morning, you want the Reserve Bank to put out impact statements on how their policies would affect smaller companies. Can you elaborate on that point?

Tim Wilson: We don't just want the Reserve Bank to do it, we want to understand when law goes through Parliament that small business has a say in... in understanding the impact of it. You just need to look at this budget right now. The government is completely disinterested in what it is going to do... um... and how it is going to take the... the wealth of small business owners all around the country because the government can't manage its budget. And when they can't manage their money, they come after yours.

Peter Stefanovic: How long do you think it'd... it'd take to know the full impact of government policies or government decisions?

Tim Wilson: Well, we... we already have impact statements looking at other areas of regulation. We have one that's focused on human rights. So it's about making sure that small business, when it's appropriate, has a say in the economic policies of this country. We are not backing down on this because it's incredibly important.

Peter Stefanovic: Okay. Uh... just a final point and separate to all of this, uh... the reporting suggesting that the next batch of ISIS brides could be arriving back in Australia within days. Tim, have you got a thought on that this morning?

Tim Wilson: Well, the key thing is to make sure that law enforcement is doing their job, but the cynic in me does ultimately say the government will do anything to distract from its budget.

Peter Stefanovic: Oh, you think this is a distraction?

Tim Wilson: Well, I... I think the government wants to talk about anything but its budget right now and the impact it is having on Australians' lives, particularly the self-starters of the country for whom they have nothing but contempt.

Peter Stefanovic: Okay, but I mean, this is out of their hands, isn't it? That these ISIS brides coming home at their will?

Tim Wilson: Well, uh... of course, these decisions based on when people arrive back, the question is what the government does with it and how much they seek to promote... um... and draw attention to it to distract from the horrific budget that is punching down at the small businesses of this nation.

Peter Stefanovic: Tim Wilson, the Shadow Treasurer, thanks for your time.

[ENDS]