Interview with Kieran Gilbert on News24

‍Subjects: Greens leadership, inflation and government spending, Jim Chalmers’ economic management, Intergenerational Housing Senate Report, housing supply and approvals downturn

E&OE………

Kieran Gilbert:

Let's get some other reaction now, and joining me is the Shadow Housing Minister, Andrew Bragg. What do you make of the Greens' choice with David Shoebridge? Do you know him, and would you expect him to be more moderate than say Mehreen Faruqi, for example?

Senator Bragg:

Good afternoon, Kieran. Obviously, we congratulate David as the new leader of the Greens and we look forward to working in any way that we can with other Senate crossbenchers to hold this government to account because after almost five years of this government, we can see that Jim Chalmers and Anthony Albanese have run out of ideas and have no answers. And so we look forward to working with all crossbenchers to hold the government to account.

Kieran Gilbert:

On today's inflation number still well above the target, the Treasurer denies its government spending that's to blame.

Senator Bragg:

Well, you have spending at historically high levels, tax collection at high levels, the fact is that the government is fuelling inflation, that is contributing to demand and until the government gets serious about this, and as Phil Lowe says, ideally run surpluses, we're going to have this persistent cycle of high inflation, high interest rates, high taxes, high debt, and it's just damaging the day-to-day of the economy in a way which is very punitive to workers and small business people.

Kieran Gilbert:

He argues the Coalition's made more than $110 billion in commitments since the election to repudiate your credibility on this, should you be coming to them with cuts as opposed to more spending?

Senator Bragg:

Well, that will happen of course in the fullness of this electoral cycle but I make the point that the Treasurer has become a sad shadow of himself when he spends all his time talking about what happened in 2021 and 2022. He's been running the show with his finger on the button for almost five years and his fiscal trajectory is a disaster. His baking in of the spending profile has put the pressure on the Reserve Bank and we now have interest rates at 15-year highs. So you can't escape the fact that this guy has delivered us 16 interest rate rises in his treasurership, and all his tax policies have collapsed, unrealised gains, his Budget. I mean I think he should really consider whether he's able to do this job.

Kieran Gilbert:

What has the Senate and is the Senate finding in terms of the intergenerational challenges on housing? I know you've been looking at that today, what's the latest?

Senator Bragg:

We'll be handing down a Report which says effectively that intergenerational housing perspectives have never been this bad. In other words, it's never been as hard as it is today for younger Australians in the housing system because of the high taxes which are particularly bad for younger people because it destroys the opportunities for younger people to create wealth that's needed for a deposit. It's also the fact that the government have made it illegal to build a cheap house through the Construction Code. And the persistently high inflation and interest rate environment we have is the third element of what is a toxic trifecta here of taxation, regulation and spending from the government which has meant that, for younger people, housing has never been this bad as it is today.

Kieran Gilbert:

The other that component of the construction sector being so under the pump with the data centres and labour shortages, material shortages and so on. You want to be a part of that boom but it's almost a perfect storm as we're also having a debate about how to cut migration.

Senator Bragg:

If you look at the data that's out today on housing approvals I mean they're down by 21%. I mean it's whatever the Government has done in their housing system has been a disaster in terms of the way it's been taxed, the way it's been regulated, and then of course the inflation and interest rates environment has been very negative. So in terms of the other elements of the economy I mean you always want to promote private investment, but when it comes down to the promises that they made to build more houses and to manage the economy properly and to act with integrity, you have to say that they're really running out of runway here.

Kieran Gilbert:

Andrew Bragg, Shadow Housing and Environment Minister, appreciate it, thanks talk to you soon.

Senator Bragg:

Thanks Kieran.

[Ends]