: The Prime Minister, Anthony Albanese is celebrating what he's calling a huge win this morning, with stage three tax cuts passing the Parliament overnight, we'll see 13 million Australians get more tax relief from July 1.
SARAH ABO, HOST: And the PM joins us live now from Canberra. Prime Minister, good morning to you. A good result in the Senate for you.
ANTHONY ALBANESE, PRIME MINISTER: Good morning.
ABO: How is it that that hasn't translated to the polls? Why aren't they better?
PRIME MINISTER: Well, it's a fantastic result for Australian taxpayers, all 13.6 million of them will get a tax cut, many of them were going to miss out. Those under $45,000 were going to get absolutely zero. By lowering that rate from 19 cents to 16 cents and then making that flow right through and lifting the other rates as well. The 120,000 rate lifted to 135,000 and the top rate up by $10,000 up to $190,000. We make sure that no one is left behind and importantly as well, no one is held back. Average workers will get more than double the tax cut they were going to get and that is good news for our economy as well.
ABO: So then PM, why isn't that resonating with the very people it's supposed to help?
PRIME MINISTER: Well, I think people know that there's cost of living pressures out there. This is just one of the measures that we've put in place. Cheaper child care has reduced child care costs by 11 per cent. People have benefited from cheaper medicines by some $300 million. 350,000 Australians commenced fee-free TAFE last year. Our energy price relief plan has made a difference as well, particularly for low income earners.
ABO: PM, you would have expected a bump out of this and you got nothing.
PRIME MINISTER: No, what we're doing here is doing the right thing by Australians. We'll continue to do that. We have, global inflation has had an impact, of course, on the Australian economy. The UK and Japan are in recession right now. We have an economy that's growing. We've got productivity that went up at the end of last year. We had real wages growth last year in 2023. So, we want people to earn more, but we want people to keep more of what they earn. And these tax cuts will deliver just that.
STEFANOVIC: PM, why are you so bent out of shape about the by-election in Dunkley? I mean, you're a first term government, you'll take a 7 per cent swing against you. And Victorians would rather put their cold, wobbly knees in a blender than vote for Peter Dutton. So, why are you so bent out of shape?
PRIME MINISTER: By-elections are difficult for governments. Historically, that's the case. We'll wait and see how Saturday turns out. But we've got a fantastic candidate in Jodie Belyea. She'll replace, hopefully will replace, Peta Murphy, who was an extraordinary local member, much loved by the local community, loved around this building as well. Passed far too young at age just 50. But she was incredible person. To go and recruit Jodie Belyea to be the candidate after she passed is extraordinary. It says so much about her character. She was such a fighter. You know, she travelled up to Canberra on the Tuesday before she passed away. Less than a week before she left her beloved husband Rod and her family and all of us. She travelled up here to go to an event about registrations for metastatic breast cancer. It just said everything about what a great person she is and we mourn her each and every day.
ABO: She was absolutely an incredible woman and made a huge difference to so many out there. But the concern you have over Dunkley, I mean, is it warranted? You do hold it with a fair majority. Could you actually, in fact, be worried that this might be a vote on your integrity and credibility at the end of the day?
PRIME MINISTER: No, it's a by-election, by-elections are difficult. The average swing in a by-election away from the Government since the Hawke Government, since 1980, is 7 per cent. 7.1, to be precise. We held the seat by 6.3 per cent.
ABO: I'm just trying to keep up.
PRIME MINISTER: It is a by-election and they're difficult. But we think we've got the best candidate. The Liberals have chosen a mayor, local mayor, who's voted for the maximum rate increases three times. And we've got a local champion in Jodie Belyea. I mean, she's not a professional politician, she's someone who has spoken up, particularly represented disadvantaged women, which is how she got to meet Peta Murphy. She's got a son doing his HSC this year at Frankston High School. She's a champion and she'll be great if she's elected. But that's a matter for the people of Dunkley.
STEFANOVIC: All right, a little nervous about it, but I want to know this, this morning PM, are you and Jim Chalmers okay? I mean, are you still BFFs? He was the architect of these tax cut changes and you've whacked him on a plane to the G20 in Brazil so he can't bask in the glow of this success. What's going on between you two?
PRIME MINISTER: We are so close Karl. I'll give you the big tip and because he's in Brazil, I can say this. Both of us are born on the 2nd of March, this Saturday. Whenever I say that we're born on exactly the same day, Jim for some reason objects to that and tries to point out that maybe there was a different year in there. We talk every day and we text each other every day. We are absolute besties. And we've got another Cabinet Minister as well, Brendan O'Connor is born on the 2nd of March. So, there's three of us. So, something was going on at that time nine months earlier I reckon.
STEFANOVIC: The more you say besties, the more I think there's a problem.
PRIME MINISTER: I reckon, Jim's in Brazil, but he might be zipping up to Vegas to watch his Broncos on the weekend. I don't know. I reckon if he's not back on the weekend, send out a search party.
STEFANOVIC: Really quickly before we go, it'd be remiss of us not to congratulate you. Politics aside, your engagement with Jodie. I know Kyle Sandilands wants to MC the wedding, but surely I'm your huckleberry.
PRIME MINISTER: You've already pitched hard, Karl, and we'll give that due consideration.
ABO: Put it to the voters Albo.
PRIME MINISTER: We are just really happy, we're wrapped. And the well wishes of people has been really joyous and generous. And thank you to everyone who has done that. I got messages from you guys and from Richard Wilkins, sent me a lovely message as well there.
STEFANOVIC: He loves a wedding.
PRIME MINISTER: He does. He loves a party.
STEFANOVIC: Learn from the best. PM, we've got to let you go. Thank you so much. Appreciate it.
