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The Australian Climate Scam: Global Control and Wealth Transfer

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This article is based on a speech I delivered at the Environment and Energy Forum, held at the Dee Why RSL Club on June 2, 2024.

Every major climate and energy policy in this country was introduced by the Liberal National Party. Every one of them. Labor then came in and ramped it up.

Australia once had the world’s most affordable and reliable energy and now household electricity costs have trebled.

The Light Australia: Issue 13 – August 2024 | https://thelightaustralia.com/

Every major climate and energy policy in this country was introduced by the Liberal National Party. Every one of them. Labor then came in and ramped it up. Australia once had the world’s most affordable and reliable energy and now household electricity costs have trebled.

The debate on net zero has devolved into a debate about the details. This will only increase support for campaigns opposing the massive industrial wind and solar projects encroaching on the doorstep of regional Australia, the impact of which is killing our nation.

But who is to blame for this situation? Every major climate and energy policy in this country was introduced by the Liberal National Party only to be subsequently ramped up by Labor.

Australia’s energy costs are among the highest in the world, despite being the largest exporter of hydrocarbon fuels such as coal, oil, and natural gas. While other countries benefit from our resources, we can’t seem to do it. Low and affordable energy is vital for human progress and economic competitiveness, impacting all sectors of the economy. When energy prices rise, the cost of goods and services increases across the board.

Our competitive advantage once lay in attracting aluminium smelters into the Hunter Valley due to its cheap coal. Now, those smelters are shut down. Just 170 years ago, we used whale oil for lighting at night and later coal became the whales’ best friend by replacing whale oil. We also used to rely on trees for heating and cooking, but coal, oil, and natural gas have taken over those roles and as a result, hydrocarbon fuels have become the forests’ best friends. Today there is 30% more forested area in developed continents compared to 100 years ago and polar bears are doing fine.

The high cost of energy is killing disposable income and lowering living standards. This is hurting families and households, costing jobs that are going to China, where we export our coal and import solar and wind components. This situation is driving investment from our country, damaging manufacturing and agriculture, and killing innovation. It’s killing our future, security and lifestyle. We are killing the environment in an effort to save it!

The man responsible for the basic solar and wind projects we see today was John Howard and his government. He introduced the national electricity market, destroying our electricity sector. He introduced the solar and wind renewable energy targets and was the first to adopt a policy on carbon dioxide emissions trading.

It was John Howard who also stole farmers’ property rights to comply with the United Nation’s Kyoto climate protocol back in 1996. Six years after being voted out of office, having laid the groundwork for the destruction of our energy sector, he gave a public lecture in London where he admitted to being agnostic on the topic of climate science, acknowledging that he lacked scientific evidence. Yet, he implemented all those policies in the name of science.

Barnaby Joyce was initially the strongest voice against the climate fraud. Then in 2016, Malcolm Turnbull, as Prime Minister, gave his electorate, New England, New South Wales $400 million to build wind turbines, which Barnaby Joyce accepted. Senator Ian McDonald from the Liberal Party in Queensland told me back in 2015 (and I’ve seen the speech) that Senator Matt Canavan once gave a speech advocating for reducing carbon dioxide from human activity.

When people like this, who were once sceptics and openly admitted it, change their stance, it destroys the credibility of the climate realist movement. It destroys truth. Fortunately, with the exception of Howard, who remains agnostic and refuses to take responsibility for his actions, Senator Matt Canavan and Barnaby Joyce are now aligning with our perspective. David Littleproud, the leader of the Nationals and a committed globalist, is pushing for funding of carbon dioxide “farming”, which is immoral. We’re now prematurely closing coal-fired power stations, claiming that large quantities of solar and wind will supposedly replace them.

Some large solar and wind turbine complexes are not even connected to the grid, yet they are collecting money because they’re supposed to be producing energy. Eraring Power Station in NSW will no longer be shut down as of next year. On the first night of the Minns’ government taking power in New South Wales, on election night, the incoming energy minister announced they would reconsider closing Eraring Power Station. They knew about this and yet still continued their pretence of funding the net zero agenda.

As expensive as wind and solar are now, the real cost is only beginning to reveal itself. We haven’t yet seen the full picture – the pumped hydro station mega project – Snowy 2.0 in NSW initially had a budget of $2 billion, which has ballooned to $14 billion and is likely to reach $20 billion. We said this from the start.

The net zero transition is a complete mess. We haven’t even begun to address the transmission lines, which will incur enormous costs. We’re looking at 15,000 kilometres of transmission lines crisscrossing Australia to transport power from sunny and windy areas to cities where it is needed. 15,000 kilometres of environmental devastation, carving out a 75m wide path through national parks, remnant forests and productive farmland. What a disgrace – and an act of environmental vandalism.

All of these policies were introduced by the Liberals and then Labor takes over, intensifying the effort, turbocharged by the Commonwealth Scientific Industrial Research Organisation (CSIRO).

I have held them accountable. They have admitted to me that they have never claimed there is any danger from carbon dioxide from human activity. They stated that temperatures are not unprecedented. Yet we are constantly told that the globe is warming with unprecedented temperatures. No empirical scientific data or logical scientific points to support this claim have been provided.

We are facing climate fraud, not climate change. CSIRO is now producing GenCost (a net zero economic report) which is filled with fraudulent numbers and bogus assumptions to make solar and wind energy look good.

We have seen no specific effects of human carbon dioxide on any climate factor – be it temperature, ocean temperature, snowfall, rainfall, severe storms, or anything else – ever.

You cannot formulate a policy without it being based in actual science because, without understanding the effects of what you’re blaming (carbon dioxide), you cannot track the effectiveness of your policy. We are essentially flying blind, with the ‘ministry for madness’, led by Blackout Bowen, (Chris Bowen, Federal Minister for Climate Change and Energy) steering us off a cliff. This outcome can be attributed to Liberal/National Party policies – that’s the reality.

Not only is there no scientific basis for their policies and no way to measure their effectiveness, but there is also a lack of cost benefit analysis. They are attempting something unprecedented without any evidence to support their approach. Other countries have seen that increasing reliance on solar and wind power dramatically increases prices and reduces reliability.

Climate Change is nothing but climate fraud. We are funnelling obscene amounts of money – billions of dollars – into the pockets of parasitic billionaires, while simultaneously destroying our economy to the tune of trillions of dollars. When you look at the life cycle of these renewable energy sources, just 15 years, it is clear that we are not only destroying the quality of life for current Australians but also for generations to come. We are subsidising foreign corporations, including the Chinese government, to install these monstrosities that are literally destroying our environment.

Hydrocarbon fuels granted us independence from nature. Coal, oil, natural gas and nuclear energy share a remarkable quality: high energy density. This provides lowcost energy, boosts productivity and wealth, reduces the cost of living and increases the standard of living.

For 170 years, until 1996 when John Howard came to power, we had experienced the benefits of this high energy density and resource efficiency. Power stations can generate all the power needed, requiring a small footprint to generate that power. This results in reduced use of minerals and land, with a significantly higher energy output.

To illustrate, consider the amount of steel needed per megawatt of energy capacity. A coal-fired power station requires 35 tonnes of steel, whereas a wind turbine needs 546 tonnes for the same energy output. Considering the intermittency of wind, its low energy density, and production limitations, the overall cost of wind energy is much higher. Solar energy, meanwhile, demands an enormous amount of land.

Now consider the low-capacity factor of solar and wind energy, which averages around 23% of the nameplate capacity (or intended output). This means that over a 24- hour period, a 1MW (megawatt) wind or solar plant will only produce 230 KW (Kilowatt) of electricity. This limitation is because solar panels can’t generate electricity at night or when it’s overcast (when the sun doesn’t shine), and wind turbines require consistent wind. To achieve the same electricity output, you would need four times the nameplate capacity, meaning you would need 4 x 1MW of generation to produce 1MW.

Even worse, the majority of this generation occurs during the day, which means during morning and evening peak hours, industrial wind and solar are only generating around 10% of nameplate capacity. Consequently, you would need ten times the amount of generation to achieve the expected electricity output.

In contrast, coal or nuclear power plants can reliably generate electricity at their full capacity, meaning you only need 1MW of generation to actually get 1MW of power, with some allowance for maintenance. Importantly, this approach does not require the destruction of the natural environment.

Consider the capital cost of this massive overbuild. This aspect is largely overlooked. Coal-fired, nuclear, hydro, and gas-fired power stations have a small footprint and are typically located relatively close to metropolitan areas, resulting in lower transmission line expenses for both construction and maintenance.

In contrast, solar and wind are scattered, leading to significantly higher transmission costs and increased maintenance expenses. These installations disrupt farming, rural communities, and the natural environment because they are dispersed widely.

The dispersed nature of solar and wind energy not only increases transmission costs but also, when factoring in their low-capacity factor and the need to build extra capacity, up to ten times more, the overall costs become extremely high.

Transmission costs previously accounted for approximately 49% of electricity costs. However, the current breakdown of electricity costs is far from clear, making it difficult to determine the current share of transmission costs.

Backup batteries to store and distribute electricity from daytime generation to evening and morning peak periods will add tens of billions to the overall costs. There are approximately $40 billion in large scale pumped hydro projects proposed or under construction, further increasing costs. Gas-fired power stations are also being considered as backup, essentially resulting in two forms of power generation in case the primary source fails.

This situation is absurd and nonsensical. The instability of solar and wind energy stems from their asynchronous nature, while coal, oil, natural gas, hydro, and nuclear energy sources are synchronous and inherently stable. Solar and wind’s instability leads to increased complexity of management and more breakdowns. It’s like going back 170 years to when our energy was dependent on the weather.

As Henry Kissinger stated years ago – whoever controls energy, food, and money controls the nation. With the current trajectory, they are on the way to controlling all three.

Most importantly, hydrocarbon fuels have been the greatest driver of human progress and lifestyle improvements throughout history, significantly enhancing standards of living. This progress is now at risk of being smashed, with human progress being the biggest loser.

One Nation embraces coal and nuclear energy, with the cheapest option prevailing.

We possess 25% of the world’s uranium reserves and approximately a century’s worth of thermal coal. Although coal is still cheaper than nuclear energy, the need to discuss both options is required. We should lift the ban on nuclear energy.

Additionally, we must address the national electricity racket, which has become a bureaucratic nightmare that unfairly favours wind and solar energy. This system allows bureaucrats to set prices rather than letting the market determine them, leading to a situation where consumers are being conned.

I’ll conclude with one final point. The late Professor Bob Carter, a wonderful paleoclimatologist, once remarked to me that this must be the biggest scam ever. I replied, “Bob, it’s not even close.” The primary issue here is the anti-human agenda, aiming to control humanity. We are facing an anti-human apocalypse, staring right down the barrel of it.

One Nation believes in the primacy of affordable energy. We advocate for honest, practical solutions based on data to address this issue. The UniParty, consisting of both Liberal and Labor, must be called out because they are the ones pushing this agenda. Together, they are working towards a global plan of control and wealth transfer, and it’s the people who pay the price.

Australia has the world’s best resources, people and climate. We have the capacity to excel in mineral resources and agriculture.

All we need is a government that believes in Australia’s potential.

Issue-13-The Light AustraliaDownload
The Australian Climate ScamDownload
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Andrew Bogut’s In Conversation Series

I joined Andrew Bogut in his studio on the Gold Coast for a very enjoyable conversation. Listen for free!

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Labor Abandons its Roots

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The Labor Party’s famed light on the hill is now nothing more than the sun reflecting off solar panels, which we know are expensive, short lived and an environmental disaster – just like the Albanese Labour government. In a recent article in The Australian, Jenny George AO delivered a scathing assessment of the modern Labor Party, stating that “Labor today is not the party it once was. It has lost its moral direction.”Members of the Labor Party like Jenny George have not left the party – the party left them. Continuing in her own words – “The party that was formed to give political expression to the needs of working people has allowed the light on the hill to dim.” 

The duopoly of Labor and the Liberal-National Party, that Australians wearily switch between every few years, is no longer built on the foundations of what Labor and the LNP originally stood for. These establishment parties continue to take from working Australians to line the pockets of their billionaire mates at the World Economic Forum. 

One Nation is the only party that still stands for working Australians and will support all who’ve come to this country to lift themselves up through their own hard work and enterprise.

Transcript

On the weekend, former ACTU president and former Labor member of parliament Jennie George AO published an article in the Australian newspaper. It’s compulsory reading. Jennie clearly holds Labor’s light on the hill in her heart, and her words echo the sadness and grief of many Labor true believers. She said: ‘The party that was formed to give political expression to the needs of working people has allowed the light on the hill to dim.’ In a recent speech I remarked that in 2024 Labor’s famed light on the hill is now nothing more than the sun reflecting off solar panels, which we know are expensive, short-lived and an environmental disaster—just like the Albanese Labor government. 

Jennie George’s judgement of the modern ALP is savage. She says: ‘Labor today is not the party it was; it has lost its moral compass.’ Ouch! Labor Party members like Jennie have not left the party; the party left them. The Overton window is a metaphor for the acceptable range of ideas and policies in which many politicians think they can act. Through it, such politicians see the middle ground of Australian politics. Under successive Labor-Greens and Liberals-Nationals governments, the Overton window has moved so far to the left and to the autocratic—that it no longer provides for everyday Australians. We’re losing wealth, spending power, access to housing, democracy and enjoyment of the riches our country has to offer. Establishment parties continue to take from working Australians to line the pockets of their millionaire and billionaire mates at the World Economic Forum. 

One Nation is the only party that still stands for working Australians and for all who have come here to lift themselves up through their own hard work and enterprise. Our One Nation policies will make the lives of working Australians easier. Jennie George’s words embolden old Labor to take back their party and excise from its ranks those who wear the mark of the World Economic Forum. Restore the ascendancy of our parliament, and return power to the people we are supposed to serve. 

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Bracket Creep is a Stealth Tax

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Both Labor and the Coalition voted to collect billions of extra income tax dollars because they need more money. Yet foreign multinational corporations in Australia are paying little or no company tax.

Bracket creep is a secret tax that means government makes money out of inflation. The government is not indexing the tax brackets to fix bracket creep meaning Australians will collectively pay $38 billion extra in tax over the next four years.

I moved an amendment that would eliminate bracket creep by indexing the tax thresholds. This means the inflation rates would be adjusted for inflation so Australian’s pay the same rate of tax instead of continuing to pay more which is the current situation the government is failing to address.

Instead of giving tens of billions of dollars back to Australians, both Liberal and Labor are happy to keep secretly collecting more and more tax, and by their own admission, they’ll only ever give it back when they can afford to. When can we expect that to occur, considering the current government’s focus is on funding UN climate goals and inflationary COVID debts?

Transcript

Senator ROBERTS: Minister, do you agree bracket creep is a problem for taxpayers in Australia? 

Senator GALLAGHER: I think all governments recognise bracket creep is an issue. That’s why governments of both major parties return bracket creep when it’s affordable and sustainable to do so. You’ll notice that, in the reforms to the tax proposal that was outlined by the former government, this does that by lowering the two thresholds and dropping the two tax rates; sorry, I’m getting back into tax land! That’s how we’re dealing with bracket creep. It provides relief, and 84 per cent of taxpayers will be getting a bigger income tax cut than they would have under the former government and paying less tax. By 2034-35, someone earning an average income will pay $21,635 less tax than they otherwise would have without these tax cuts. 

Senator ROBERTS: Minister, you said you return bracket creep when it suits you and when you can afford it. Doesn’t that mean that you’re taking money off taxpayers, and that it’s really a stealth tax because taxpayers don’t know they’re moving into a higher tax bracket? Bracket creep is when the brackets stay the same but people’s wages inflate and they move into a higher tax bracket—so they automatically pay a far higher rate of tax in the next bracket and they don’t even know it. Isn’t that tax by stealth? 

Senator GALLAGHER: No, I don’t agree with that. I think Australians understand marginal tax rates and the interaction between their earnings and those tax rates. I would say again that’s why, regularly, tax cuts are provided to taxpayers—to deal with bracket creep and provide other assistance where that’s possible, where it’s affordable and sustainable to do so. I say that not to say ‘when we choose to’ or ‘when we feel like it’ but because we have to manage a budget responsibly as well. People expect that because taxes pay for all the services that people consume and expect to receive from their government. 

Senator ROBERTS: Minister, I remind you, before asking my next question, that former deputy commissioner of taxation Jim Killaly, who was in charge of large companies and also international matters for the Australian Taxation Office, said back in 1996 and 2010 that 90 per cent of Australia’s large companies are foreign owned and have paid little or no tax since 1953, due to Liberal legislation that was passed in 1953 letting major foreign owned corporations off the hook. Bob Hawke made sure that the Labor Party was also giving gifts to major foreign corporations by letting the world’s largest avoider of tax, Chevron, off the hook for tax in the North West Shelf. Surely the fix to bracket creep is to index brackets. If we’d done that 10 years ago we would have saved the people $44 billion in tax. You say, ‘Where can we get the tax from?’ I get that tax is the cost of government, that tax is the price of government and that tax has to be paid, but foreign corporations in this country are paying little or no company tax. That means they’re using our services that every mum and dad and family and small business is paying for in this country, and they’re doing it for free. We used to be the world’s largest exporters of gas, we get very little for it, and these foreign companies are sending it overseas. Japan gets $3 billion a year off import duty for our gas going into their country, and we get very little for it. So what I say to you is that we can’t afford it because you’re not taxing foreign multinationals adequately. You’re letting them off the hook. Because you didn’t index brackets in this attempt, over the next four years Australians will pay $38 billion more tax than if you indexed brackets. Surely, you can look at the spending and cut some of that back. Surely, you can look at the taxation of foreign multinationals and make sure they start paying their fair share. Then let Australian families off the bracket-creep hook. Why can’t you do that proper budget for the Australians? 

Senator GALLAGHER: There was a lot in that, Senator Roberts. I think your final question was around budget management, and the work we have done in the last or two budgets and MYEFO has been to repair the budget. The deficits are a lot less, going forward. We’ve had a surplus budget, we’ve lowered our debt, we’ve contained spending despite the pressures the budget is under, and where we’ve had revenue windfalls we have returned the vast majority of it— over 80 per cent, 88 per cent I think—to the budget to repair it. We do have to manage the budget responsibly and we’ve been able to do that and provide bigger tax cuts to more Australians. On your point about multinational tax reform, I don’t necessarily agree with all of it because I haven’t been able to verify some of the things you’ve said. We agree that we should be making multinationals pay their fair share of tax—we’ve got a bill before the parliament on that, we’ve got a bill on PRRT and we’ve got a bill on high-balance super, and that is about making sure we are putting the budget on a sustainable footing, that we’re able to pay for defence, aged care, hospitals, the interest on our debt and the NDIS, and that we are able to pay for those services that people expect. But this plan does deal with bracket creep, so I don’t accept the position that you put saying we don’t. That’s part of the reason why we’re doing it. The Treasury advice there is very clear. Our plan provides better protection against bracket creep for 70 per cent of all taxpayers over the decade, including the average taxpayer and those on low and middle incomes. 

Senator ROBERTS: Minister, how can you say it fixes bracket creep when over the next four years Australians—families and individuals—will be paying an extra $38 billion due to bracket creep? You are not indexing the brackets themselves; you’re just making a one-off adjustment. As soon as that happens, with inflation continuing, you will continue to increase revenues. Inflation hits families in two ways: first of all, goods and services cost more; second of all, they move into a higher tax bracket and they pay more tax. They actually end up with less take-home pay. So I don’t buy your argument. Why doesn’t Labor want to fix bracket creep? 

Senator GALLAGHER: I think we’re just agreeing to disagree, Senator Roberts. This plan does deal with bracket creep by reducing two tax rates and increasing two tax thresholds. It does deal with bracket creep. In particular, as I said in my previous answer, for average taxpayers—those on the average wage, and low- and middle-income earners—this substantially improves the money they get back in their pockets, and returns that bracket creep. But you disagree with me—I will keep making that point and, presumably, you will keep making yours. 

Senator ROBERTS: Minister, you cannot argue with the fact that someone who is just below the next tax threshold will soon be paying higher tax because of inflation. That is a fact. The only way to beat that is to index the tax thresholds. As to supporting my amendment, it shows you do not want to stop rampant increases in tax or you want to keep bracket creep to exploit taxpayers. Why don’t you want to fix bracket creep properly by indexing it so that brackets rise as inflation rises and wages rise, so people stay within the same bracket and there is no creep? Why don’t you want to fix bracket creep? 

Senator GALLAGHER: The tax rates haven’t been indexed, that’s right. I understand your amendment seeks to do that. I don’t think you’ve moved your amendment, but I may as well cover off. We are not supporting your amendment. The approach in this bill is preferable to your amendment because it provides governments—I’m talking about not our government but all governments; this is the way it’s been done—with greater flexibility to respond to fluctuations in the economic cycle. This proposal does deal with bracket creep. It does return money to taxpayers. I don’t know where you get your $38 billion figure from over the forward estimates, but I think your point there is that there will be—that’s assuming, wherever that number comes from, that there will be no change to tax rates in that. History will show that governments have made decisions to implement tax cuts where it’s affordable and sustainable to do so on the budget, and I expect governments of both political persuasions will continue to take that approach. 

Senator ROBERTS: Minister, in my view, I don’t think you’re being honest with the people of Australia, because bracket creep is a stealth tax. Inflation helps your tax revenue. How many pages are in our tax act? 

Senator GALLAGHER: We might have to take that on notice. I’m just seeing if we can provide you with an accurate answer, but it’s quite detailed and there are obviously pages that underpin the tax act as well. I’m not sure we’ll be able to do that accurately tonight, but we’ll see what we can do. 

Senator Scarr: To the nearest ten thousand! 

Senator GALLAGHER: I was going to say: it’s a lot! 

Senator ROBERTS: To the nearest thousand would be fine, thanks, Minister. The point I’m trying to make is that we already have a very complex tax system, which is confusing for small businesses and confusing for people who don’t have access to lawyers and deep pockets. It’s confusing for individuals and families. We always support returning more money to taxpayers, and $15 a week is a lot of money to many people. In the overall scheme of things, it’s not very much. In a few years, you’ll be recovering far more. Is there any plan to actually reform taxation properly, to do a comprehensive reform so that the tax system becomes simple, clear, effective, efficient, fair and honest? Is there any stomach within the Labor Party to be honest with the people of Australia and really reform taxation comprehensively? 

Senator GALLAGHER: I think the government’s been clear about what our tax changes are. They are the Treasury Laws Amendment (Cost of Living Tax Cuts) Bill 2024, the bills I referred to before on high-balance super accounts, multinational tax reform, PRRT—they are the government’s tax plans. Am I missing one? 

Senator Hume: Negative gearing! 

Senator GALLAGHER: I don’t accept that interjection. That is the government’s tax agenda going forward. 

Senator ROBERTS: I move Pauline Hanson’s One Nation amendment (1) on sheet 2342. 

Senator HUME: For the benefit of the chamber, I just want to inform you that the opposition is going to oppose this amendment, Senator Roberts. We won’t be supporting it, because the stage 3 tax cuts were originally designed to address bracket creep but do it in a very structural, costed and fiscally responsible way. While this measure would address bracket creep, you’re absolutely right that the fiscal cost of this change isn’t known, and that’s why we couldn’t support it at this stage. The Prime Minister’s broken promise means that delivering the stage 3 tax reforms as they had been legislated originally is now impossible, but the coalition remains committed to fighting bracket creep and to enshrining aspiration, because strong leaders keep their promises, even when it’s hard to do so. 

Senator GALLAGHER: I made some comments previously, but we will also be opposing this amendment. The bill before the chamber does deal with bracket creep. It delivers tax cuts for 13.6 million Australians. It’s carefully calibrated to provide more cost-of-living relief. I know that Senator Roberts said that it was $15. I think that figure he is using is the extra that people will get. Those people will get $15 extra on top of the tax cuts they otherwise would have got, and, for many people, that is a substantial amount of money. We recognise there are other things to do on the cost of living. That’s why our other measures are being put in place. But in terms of your amendment, we oppose it. We think the way we’re approaching it in this bill is preferable, and it’s the way it has been done in the past. It gives government the flexibility to make those decisions when it’s affordable to return bracket creep in a way that can maximise those returns. 

Senator ROBERTS: Minister, I want to take you back briefly to a previous answer you gave when you implied the surplus—which is correct in the budget. The surplus has only been around for two years because of the strength of our agricultural production and our coal and iron ore exports. That’s the only reason. What we’re seeing is a country that is at the mercy of international prices for its major primary products. If something happens, then we have to rely upon bracket creep to pull us out of the mess, and that’s not fair to Australian families and individuals. 

Senator GALLAGHER: I accept that our export industry and our resources certainly contribute to our tax revenue through company tax receipts and others, but the strength of the revenue upgrades has also been improved and strengthened by the strength of our labour market. We’ve had many more people in jobs earning money and therefore paying tax than we have previously. Unemployment is at a record low; participation is at a record high. It’s kicking up a bit now, but that has contributed significantly to the improved position of the budget. Yes, we acknowledge that. Part of that has allowed us to pay debt down so that we’re not paying as much into the future and generations of the future are not paying those interest costs—the fastest-growing cost on the budget is managing the interest costs on our debt— and it’s allowing us to deal with all of those areas of pressure that we talk about all the time in here: the NDIS, aged care, hospitals and defence. They are all big costs coming at the budget, and we do have to manage it in a responsible way. 

Senator ROBERTS: I’m not pretending to say it’s easy. It’s complex, but it’s excessively complex. You’re addressing the need for increasing tax revenues for the extra expenditure, including interest payments, but what you’re not saying is that a lot of that money is coming from individuals through immigration, which is putting enormous pressure on house prices and inflation. That’s a real impediment to people looking for houses right now. We’ve got people in Queensland sleeping in tents in showgrounds in Gladstone, in parks in Bundaberg, in parks and on the banks of the river in Brisbane and in Ipswich, Logan and Townsville. I think we’re making a rod for our own back. When are we going to see comprehensive tax reform to take the load off individuals and put it onto large corporations so they start paying their fair share? 

Senator GALLAGHER: Well, I’ve outlined that we do have a bill around multinational tax reform to ensure that those big multinational companies are paying their fair share of tax. I think if you talk to many domestic companies they’ll say they’re paying their fair share of tax right now. People have a view about that, I guess. Individuals do contribute substantially to the Commonwealth budget through income tax. We need to generate revenue in order to pay for services. On your point around population and housing, obviously you can’t do everything through tax cuts, and that’s why all those initiatives we’ve got in housing are so important and why we want the chamber to support the latest part of our housing initiatives, which is Build to Rent. We’ve got a full suite of programs. We acknowledge that supply is the problem, and the Commonwealth is right in there with our sleeves rolled up, working with states and territories, to do whatever we can to generate more supply. Also, as you know, some of the changes we’ve made to the migration system have ensured that those net overseas migration numbers that we’ve seen rise post-COVID are coming back down to our more traditional rates. 

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Scott Morrison Retires!

As Scott Morrison is set to retire from politics next month and take up his ‘thank you’ job in the US defence sector, here’s a look back at his legacy and the measures he enabled during his Prime Ministership.

Lest we forget.

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