: Prime Minister Anthony Albanese joins me now. Morning, Prime Minister.
ANTHONY ALBANESE, PRIME MINISTER: Morning Craig. Good to be with you.
REUCASSEL: Good to be with you. Now, we've been talking about your 'delulu with no solulu' apparently it's from TikTok. Did you have any idea what that meant before you said that?
PRIME MINISTER: Yes I did and I do think that Peter Dutton is delusional if he speaks about fiscal policy and deficits given that he left deficits of $78 billion that we turned into a surplus. Another deficit of above $50 billion that we turned into a second surplus of $15 billion and then we've halved the deficit that we inherited this year. But this morning Angus Taylor's made the rather extraordinary statement, declaration, that they will repeal our tax cuts. That is, they will introduce legislation for higher taxes. So, under Peter Dutton people will earn less and they'll be taxed more.
REUCASSEL: And now obviously people would take into consideration all of the things they've been offered. So, your tax cuts passed Parliament, saving at most $530 a year by 2027. Today we learned that Peter Dutton will probably halve the fuel excise for 12 months saving around $750 for the average driver. If this election is just a bidding match for the votes for the Australian public haven't you just been outbid?
PRIME MINISTER: What it's about is structural change. What we've done, is now passed the Parliament lower taxes for every single Australian taxpayer and the Coalition have said that they will repeal it and they stand for higher taxes and their offer, if you like, is for one year and then it disappears. So, a higher deficit over the next year and then no further cost of living help which isn't surprising because they've opposed every cost of living measure which we have put in place over the last three years and now they've confirmed they stand for higher taxes for every taxpayer.
REUCASSEL: I mean you're taking a bit of a gamble here because you're saying to people - Australians - well, wait for two years to get $260 then wait for a third year to get $530 a year whereas -
PRIME MINISTER: That's not right, Craig, that's not right. What we've done is put more money in your listeners' pockets right now. An average, with the result of this top up, will be worth two and a half thousand dollars a year.
REUCASSEL: I know, I understand they come with that. I'm just saying in terms of the differences, because you're talking about the fact that the Coalition is going to get rid of the most recent tax increase, tax cut, that you've put through. They're offering kind of well around $750 now -
PRIME MINISTER: No, it's not clear. They are against tax cuts. They did say that they would repeal all of our tax cuts at this time last year when we introduced them. And now they've confirmed that they will repeal tax cuts, so they stand for higher taxes.
REUCASSEL: In terms of the time frame though, if people are looking at cost of living issues right now and Peter Dutton's offering them a quick hit of $750 off their fuel bill now, isn't that going to be more enticing given it's right of way?
PRIME MINISTER: What we've put in place is Cheaper Medicines, Cheaper Child Care, Free TAFE, a cut in student debt of 20 per cent from July immediately for people's HECS debts on top of the $3 billion that we have already cut from student debt. We've introduced and now passed tax cuts to top up our tax cuts that we put in last year. What he has done is gone back to the Morrison playbook. I mean, this is the leftovers of the Morrison Government. This is what Scott Morrison did in the 2022 Budget, but then it disappeared because it was time limited. This is time limited as well. Just for one year. No ongoing cost of living help, no structural change, just higher taxes in the future and no support for the measures, including on TAFE, on child care, on medicines, on Medicare, on Urgent Care Clinics, on seeing a doctor for free.
REUCASSEL: Well, to be fair, they have backed some of your Medicare changes. Now, $5 a week or $10 a week can make a big difference to a family struggling right now. But is it need people earning over $200,000, for instance? Would it have been made more sense to target these tax cuts, make them more substantial then for those who are actually being targeted?
PRIME MINISTER: Interesting. Craig, tell me how you cut the first marginal tax rate without it flowing through.
REUCASSEL: Well, I'm just saying there are other methods you could make more targeted. That's not the only way to cut people's bills.
PRIME MINISTER: Tell me how you do. Tell me how you make tax changes that are more targeted than lowering the first marginal tax rate. The truth is this is the most effective way of targeting particularly low and middle income earners by cutting that first marginal tax rate. What it does do is flow through to every taxpayer, that is true. But that is how you target people who are earning under $45,000 a year. And bear in mind, had we not made the changes last year and the changes that were passed in the Senate last night, people under $45,000 would not have got a single cent. Now, that particularly impacts younger people. It impacts people who are on the minimum wage as well - would have got minimal, some of them nothing whatsoever. And remember during the last election campaign, Craig, that when I said that people on the minimum wage deserved a $1 an hour increase, Scott Morrison and the Coalition said the sky would fall in. Well, we've introduced three minimum wage increases that have lifted wages for people on those lower amounts. And we'll be making a submission to the National Award Case that's taking place in the following month.
REUCASSEL: Now, I promised I wouldn't ask this question because I know the answer, but given we've only got about 20 seconds left. When will you call the election for?
PRIME MINISTER: Oh, it'll be soon. It'll be soon.
REUCASSEL: See, I knew it.
PRIME MINISTER: I'm sick of being asked.
REUCASSEL: I wasn't going to ask you, but only 20 seconds. It's the one thing I know you can answer that pretty quickly.
PRIME MINISTER: Keep an eye on the white car with the flag.
REUCASSEL: We will be keeping an eye on it. Thank you, Prime Minister. Thanks for speaking to us.
PRIME MINISTER: Thanks very much.
