Radio Interview - ABC Radio Perth - Mornings with Michelle Stanley

E&OE TRANSCRIPT
ABC RADIO PERTH
MORNINGS WITH MICHELLE STANLEY
MONDAY, 1 JULY 2024

SUBJECTS: Budget; Tax Cuts and Bracket Creep; Monthly Inflation Figures; War Memorial Vandalism.

HOST, MICHELLE STANLEY:  It's the 1st of July. It is officially a new financial year. But whether you're looking forward to a tax return for a little bit of relief, the cost of living is continuing to bite. From today, the Federal Government's tax cuts come into effect as does the $300 electricity rebate for households. Matt Keogh is the Federal Member for Burt. He joins me now before we get into these tax cuts.

MINISTER FOR VETERANS’ AFFAIRS AND DEFENCE PERSONNEL, MATT KEOGH: Hi, Michelle. It's great to be with you. Yes, on 1st of July, it's the day that every tax payer will start to get tax cuts and energy bill relief, as you mentioned.

MICHELLE STANLEY: There has been another incident of vandalism at the War Memorial in Canberra. Pro-Palestinian messages were found on the Korean, the Vietnam and the Australian Army monuments. Matt Keogh, a lot of young people do support Fatima Payman's viewpoint. Does it concern you that the Government might be losing support from young people?

MINISTER KEOGH: Well, what concerns me is that people think it's appropriate to vandalise war memorials. We've got people that are protesting very understandably about violence being afflicted on people in Gaza, in the Middle East, and that's understandable. It is not appropriate in any way for people to think that it's an appropriate way to raise that message by vandalising war memorials, people who - memorials that are there to commemorate the actions of those who have made the ultimate sacrifice in the cause of peace, to misuse them in this way is completely abhorrent, frankly, and I don't really want to drag, bring a lot more attention to that, because I don't think it's an appropriate way. No one is in any way disputing the right of people to peacefully protest, to raise their concerns. That is a key part of a vibrant democracy, a vibrant democracy that we have, because people have put on our nation's uniform to protect our democracy.

MICHELLE STANLEY: On ABC Radio Perth WA, Michelle Stanley with you and you're hearing from Matt Keogh, the Federal Member for Burt, the Minister for Veterans’ Affairs and Defence Personnel as well. As he's just run through these new tax cuts, electricity rebates officially coming in today, the 1st of July. Matt Keogh, is there not a concern over the potential inflationary impact of these tax cuts?

MINISTER KEOGH: Well the tax cuts that we are delivering don't add in any way to inflation in the way that we've restructured them and the Reserve Bank was clear about that as well. The tax cuts that the previous Government wanted to bring forward which was only going to deliver tax cuts to the most wealthy tax payers in Australia, we are spending the same amount of money if you like, it's the same cost but now it means that 2.9 million Aussies earning $45,000 or less that were previously not going to get any tax cut at all -

MICHELLE STANLEY: I mean they had already received tax cuts under previous forms -

MINISTER KEOGH: There have been other tax cuts that they have received earlier but it's important as we reflect on these cost of living pressures that we've been discussing that the tax cuts operated in the most equitable way to provide that relief but also the way the energy bill relief works, the way the freezing on the cost of medicines on the PBS, the increase in the subsidies on childcare, all of these things work in a way that doesn't add to inflation. That's really important and so what we've seen over the last two budgets that we've delivered is that our cost of living measures have not been inflationary, in fact they've been deflationary which given the other pressures on inflation, many of which are global, has meant that we are able to keep downward pressure on inflation. In our term of Government inflation has nearly halved. That's a really important element of what we've been able to deliver which is not just tax cuts, keeping the cost of things lower for people like energy, like medicine, like childcare.

MICHELLE STANLEY: Inflation is still going up so are you worried these tax cuts and the rebates could bring on this anticipated August interest rate rise?

MINISTER KEOGH: To be clear there's been an increase in the latest monthly figure but not across the quarter and we've always said that you'll see volatility month to month but when we look at the trend from when we came to Government to now, inflation has fallen considerably and we've provided this cost of living relief and it's important that we continue to do that and that is what we are delivering. We are being prudent in the way we're delivering this budget relief. We're being responsible and restrained making sure that we deliver cost of living relief but at the same time doing it in a way that is not adding to inflation.

MICHELLE STANLEY: And so you're not worried about an August interest rate rise?

MINISTER KEOGH: Well I can't predict what the Reserve Bank will determine and if you do a survey of economists, none of them will agree on that outcome either. All we can do as a Government is be responsible and restrained, provide that cost of living pressure relief in a way that doesn't add to inflation and that's what we're doing. We're being responsible in what we're doing to make sure that we are supporting Australians with that real cost of living pressure that they're feeling.

MICHELLE STANLEY: Another major driver of inflation has been insurance premiums and I was reading this morning they’re up 14%. I believe they’ve increased ninefold for some small community groups. How's the Government planning to address this issue of insurance premiums?

MINISTER KEOGH: Well insurance premiums are a major cost for some organisations and for individuals you know whether it's home and contents, whether it's car insurance, whether it's health insurance, though health insurance is somewhat constrained. When it comes to those other insurances, those general insurances, they are very much led by the global market. They are reinsured in a global insurance market that does make it difficult for Governments to be able to constrain those increases but it's even more important that we do what we are doing here through delivering tax cuts, through keeping with the energy bill relief, through the other measures to keep cost of living pressures constrained given that there are these other global factors like insurance that come in that will affect inflation in Australia as they are affecting every country around the world.

MICHELLE STANLEY: Matt, before I let you go, you are the Minister for Veterans’ Affairs. The late last week former special forces soldier Ben Roberts-Smith was awarded a Coronation Medal from King Charles. This is a year after the Federal Court found he was involved in the unlawful killings of four unarmed civilians in Afghanistan. Is this Coronation Medal appropriate?

MINISTER KEOGH: Well the Coronation Medal is a matter decided personally by the Monarch as to the categories of people that are eligible and one of the categories were all living recipients of the Victoria Cross and the George Cross and so that's how that medal has come to be awarded in that way and of course I can't comment on ongoing court proceedings.

MICHELLE STANLEY: But do you think it's a good move?

MINISTER KEOGH: Well as I said the Coronation Medal as there is after every coronation there is a medal issued to a broad range of categories of recipients and one of those categories as has been the case previously includes all living Victoria Cross recipients.

MICHELLE STANLEY: Matt Keogh thanks for your time today.

MINISTER KEOGH: Great to be with you.

MICHELLE STANLEY: He's the Minister for Veterans Affairs; and Defence Personnel as well as the Federal Member for Burt.

END

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