Sunday, 1 March 2026

E&OE

Topics: Iran, CGT, election review

David Speers: Tim Wilson, thanks for joining us this morning.

Tim Wilson MP: Thanks David.

David Speers: So let's start on what's happening in Iran. Is this strike on Iran justified in your view?

Tim Wilson MP: Well, the Ayatollah is dead and that means the world is now a safer place. The reality is this situation has been building for some time. Iran has exported terrorism around the world, including into Australia. A coordinated attack to address what has been an ongoing build-up of their nuclear programme is something that's very good for international peace and security. Of course, we hope the situation is contained and we watch it very closely.

David Speers: And should the aim here be regime change, should that be the end goal?

Tim Wilson MP: Well the aim should be that the Iranian people take control of their destiny, they decide their future and that's not with the mullahs in charge as far as I'm concerned and clearly not as far the Iranian people are concerned but it's their decision about how they want to run their lives and their country rather than having something imposed on them by the Islamic regime that has caused terror, led to the punishment and subjugation of women, homosexuals and exported terrorism around the world.

David Speers: Are you concerned though about where this might go, what this might lead to? We've seen attempts at regime change in the Middle East end in disaster previously.

Tim Wilson MP: Of course we all watch these events very cautiously, we're very mindful of the fact that we don't want the situation to go further, but it's very clear to me that the world is now a safer place with the Ayatollah gone, and of course we hope that the Iranian people are in a position where they're able to seize their own destiny and decide their future.

David Speers: If this does drag on, would Australian involvement be appropriate in any military sense?

Tim Wilson MP: I think that's a decision and a question for the Foreign Minister, and I'm not trying to be obtuse. You know, these situations should be done in consultation and discussion with countries like the United States, of course, and of course well at least in Liberal governments an ally such as Israel, and we want to make sure that any decision we take is sober and of course is necessary and proportionate rather than making decisions simply based on answering a question on your television programme.

David Speers: Fair enough. And look, just a final question on this. How do you view the whole argument around whether this is legal and what it means for the rules-based order? Does that matter still?

Tim Wilson MP: Of course the rules-based order matters, but one of your guests just said that we don't have the regime or the world we used to have. US leadership is still going to be very important in the world, and we hope that they continue to play an important leadership role to maintain peace, stability and safety. But we need to remember the Iranian regime was actively involved in exporting terrorism around the world. They were involved in stoking and funding and financing the attack from Hamas on Israel, they are not, the mullahs were not good corporate citizens shall we say, or international citizens.

David Speers: So if such a claim can be made against another regime, a strike like this from the US is justified?

Tim Wilson MP: Let's not extrapolate my comments, I'm talking specifically about the situation at hand, but it's very clear to me that the world is now a safer place because the mullahs are gone, the world has now a safe place because we have a regime that has been active in exporting terrorism around the world, is now at least leaderless, and now is the time for the Iranian people, and we should be standing with the Iranian people to decide their own destiny, we should standing by them to stand up for their future and their destiny. For a country, for a form of government that doesn't treat women as second-class citizens, that doesn't punish homosexuals, and is one that they decide their future.

David Speers: Tim Wilson, let's move on because the reason we wanted to talk to you this morning before these events was about the debate leading up to the budget around tax and inflation. Look, on tax and property tax breaks in particular, Treasury is looking, we understand, at both negative gearing and capital gains tax breaks. Some years ago you told Parliament the tax system is screwing young Australians. It favours well-off established interests against those trying to get ahead you said. If you work hard to get ahead, you get hit hard. If you live off assets, you don't. Is that still your view?

Tim Wilson MP: Absolutely, it's my view, which is why I want to cut income tax, and that's my objective. This debate is fascinating, the extent to which the Treasurer likes to brief out copies of the new social contract-

David Speers: This is your words Tim Wilson in the Parliament on the Hansard.

Tim Wilson MP: No, no, no. I'm quite happy to answer. I'm answering your question, David, and yes, those are my words from Hansard, and I stand by them because we have a tax system where young people have their physical and their intellectual labour to sell. And they're taxed at the highest marginal rate.

David Speers: But you were talking about the capital gains tax break. You said of the capital gain tax discount, people who can predominantly live off income from their assets can pay very little tax and get discounts on capital gains from increases in asset values. Do you still have a problem with that?

Tim Wilson MP: As I outlined, I absolutely have an issue where income tax at 47% and we apply discounts where we're punishing work. And that's the point of my remark, which is we need to lower income tax. I continue to stand by that resolutely.

David Speers: But do you stand by your criticism of capital gains discounts?

Tim Wilson MP: I've already outlined that the problem is that the discount is associated with very high income tax rates. You cut income tax rate, you reduce the discount.

David Speers: But your point in the Parliament was that the capital gains tax break is a problem. People who can permanently live off income from their assets, pay very little tax, get discounts on capital gains.

Tim Wilson MP: And I'm making this point, and I'll keep making this point because you seem to misunderstand, David. There is an income tax rate up here. There is a capital gains discount, which reduces the rate here. And my answer is to reduce the income tax rate. Jim Charmers' answer is to increase capital gains. That's the fundamental difference between the two of us. My interest is how we reduce the gap by making sure we get lower income taxes. Jim Chalmers wants to keep pouring more taxes on Australians' household incomes and making it harder for people to get ahead. I want hard work to pay off.

David Speers: Do you support any change to the negative gearing or capital gains tax rules?

Tim Wilson MP: Well, any suggestion around that would be speculative. My focus is on how we reduce income tax and making sure we can achieve that. Of course, it's up to the Treasurer. He's in government unless something's changed and I'm now in government.

David Speers: He's in government, he's the one who's going to bring forward that budget. You're now the shadow treasurer. You can have a view on negative gearing and capital gains tax. You used to have a view. Do you have a view as to whether they should be changed?

Tim Wilson MP: As I've said to you many times, David, I absolutely have a view about reducing income taxes. I've also said on many other programs that when you tax something more, you disincentivise it. I want hard work to pay off. That's why I believe we need to make sure we reduce income tax. If you increase taxes on property and housing, you will get less property and housing. That means rents will go up, that means the price of housing will go and it means we'll get less housing supply, which is what we desperately need. At the moment, the only proposal being put forward and floated by the government is new housing taxes will increase rents, decrease supply and increase the price of housing for first home buyers.

David Speers: Just on inflation, look, according to the Reserve Bank Governor Michelle Bullock says it's not taking off again but is a little bit elevated. Do you agree with her assessment?

Tim Wilson MP: Well what I agree with is her assessment that the government is stoking private demand. This week I got a briefing from the Reserve Bank about what's happening with inflation and private demand is absolutely stoking it because the government keeps pouring cash into the economy, debt-petrol on the inflation fire. So we need to stop the excessive spending, we need stop money going to organised crime through the CFMEU-Labor cartel if we want to get downward pressure on interest rights. And downward pressure on inflation.

David Speers: Do you also support some of your colleagues who want to lift defence spending by more than $20 billion?

Tim Wilson MP: What we've said up to the last election and of course we'll continue to have a conversation around how we can get defence spending to where it needs to be. Today is clearly a reminder of just how challenging the international circumstances are and unfortunately today is not the end. There will be other challenges we face into the future so we need to have appropriate and proportionate defence spending, to secure Australia and to make sure we can keep our nation safe.

David Speers: But Sussan Ley and Angus Taylor recommitted to that 3% defence spend after the election. Are you hedging on that or do you back that?

Tim Wilson MP: I'm not hedging on that at all, but I'm somebody who focuses on outcomes and making sure that every dollar that is spent we get the maximum outcome for the Australian people. We have a commitment around the role of defence spending and its important role in the country, but we're going to have to obviously balance it out with other decisions around the budget.

David Speers: What about taxpayer spending on nuclear plants or coal plants, are you in favour of that?

Tim Wilson MP: I said before the last election I wasn't enthusiastic about taxpayer money but we need to remember energy is mostly a state policy issue David. There is a role for the federal government of course to play in energy but I want to see a future where power prices go down and make sure that we see a fundamental change because we need re-stoke industrialisation of our country and cheaper energy is an essential part of that.

David Speers: Final one Tim Wilson, the Liberal Party has decided not to release the official review into last year's election drubbing. The review authors Nick Minchin and Pru Goward say it's a big mistake, it's going to outrage members and donors who invested time and money. Have you seen this report?

Tim Wilson MP: I have not.

You as Shadow Treasurer have not seen this report. Do you want to see the report?

Tim Wilson MP: Well, of course, I want to see anything in the context of confidence because whatever is in the report, of course sometimes we release abridged summaries or other versions of these things, but I've only been Shadow Treasurer for about 15, or less than that, I think it's 13 days now, David. And the focus of my time as Shadow Treasurer is how we're going to rebuild Australia after Jim Chalmers continues to pour debt-petrol on the inflation fire.

David Speers: I mean clearly there are criticisms of this report itself amongst the federal executive but are you not curious to see the reasons that Nick Minchin and Pru Goward came up with as to why you lost that election so badly?

Tim Wilson MP: Of course, everybody will be curious to see a copy of it. I'm quite sure the media will be curious to see a copy of it as well. But I understand it was unanimous position of the federal executive, of which I am not a member. And so they've made their decision. Of course whatever it is, the lessons and learnings need to be integrated into the campaign so that we don't repeat the same errors. But to be frank, a lot of the errors were clearly at a parliamentary level, not just at an organisational level as well. Angus Taylor has already acknowledged aspects of that. And made that clear publicly, which is a sensible and right thing to do.

David Speers: Alright, Tim Wilson, thanks for joining us this morning.

ENDS