The Point Live: Government pushes for mining friendly environment law pass, Coalition wants tax cuts. As it happened

It’s his standard line despite O’Brien remaining a fan of nuclear power, which would require the mother of all government spending campaign.

But still. As I have noted previously, the RBA in its November statement on monetary policy revised down the impact of public spending on the economy.

And the reality is that the current growth of public demand is pretty low historically speaking, and much less than the LNP spent once they worked out austerity was a dud.

As for inflation, the real driver of inflation was electricity was purely because October last year was the peak of the state and federal energy rebates, so in comparison to then things look a lot more expensive.

15% of all the increase in inflation over the past year is from electricity, and over half came from just 8 items.

Sussan Ley is back which is never a good sign. Ley asks:

My question is to the Minister for Climate Change and Energy: I refer to reports that, in his capacity as full-time COP president, and an Energy Minister working part-time, he has signed Australia up to a statement which would phase out the import, export, and usage of gas. Is this government policy, or is this just the first of many examples where what the minister says when he works part-time on Australia’s energy grid is in direct contradiction with what he decides as full-time COP president?

Bowen goes a lovely shade of Barnaby beetroot in answering this:

The Leader of the Opposition asked it in two parts, and I’ll answer in two parts. Firstly, she referred to the declaration on transition away from fossil fuels. She asked if that is government policy. Yes, it is. And it has been since 10 November 2023, when Australia agreed with the Pacific on that exact language at the Pacific Island leaders’ forum that, actually, what would be a good thing for the world – and for our country – is for more and cheaper renewable energy to increasingly replace fossil fuels, which is more expensive and less reliable. That is not a revelation.

The declaration says we’re for a just, orderly, and equitable transition away from fossil fuels. Are you against the “just” part, “the equitable” part, or the “transition” part? The Leader of the Opposition went on to repeat her false allegation, which she’s done now on multiple occasions, that somehow the office of president of the COP negotiations is full-time. Mr Speaker, let me put it in the clearest possible way. The Leader of the Opposition is either deliberately or not deliberately misleading the House.

Because it is not true and has never been true.

…The Leader of the Opposition asked me about full-time and part-time. I’m more than happy to deal with that. The position of COP president, for the last 10 COPs, has been held by a Cabinet member, continuing in that role. That’s the way the position is designed. Last year, Minister Babayev, the Minister for the Environment of Azerbaijan. The year before that, the Minister for Industry. Before that, the Minister for Foreign Affairs of Egypt. Before that, Minister Schmidt, the Minister for the Environment of Chile. Before that, Minister Kirchner, the Minister for climate change of Poland. Before that, Frank Bainimarama, while he was Prime Minister. Before that, Minister Fabius of France, the Foreign Affairs Minister of France.

All Cabinet ministers who were COP presidents. What cultural cringe that somehow they can all do it but Australia can’t…! What we want is more influence for our country. They want less. They want less influence for Australia. How unpatriotic can you be?! Why don’t you want your country to have a bigger role in the world? Why are you so anti-Australian? Why can’t you be proud that your country can’t you be proud that your country can play a leading role in international negotiations? This is a Leader of the Opposition who is so enthralled with Sky After Dark that she can’t even know an international role when she sees one.

Then the lights flickered, so you know.

Canberra is having some sort of blackout – the lights just flickered in the Point office and in the chamber, causing the whole parliament to lose their minds.

None of these people can ever visit a haunted house with me. Honestly. Spines like jelly.

And yes, I know it is a joke about keeping the lights on, but they acted like pre schoolers when they heard a teacher say ‘bum’.

Jim Chalmers took a dixer just so he could say this about Ted O’Brien:

As I understand it, the Shadow Treasurer gave a little speech about some of these issues a moment ago. We’ve heard these kinds of speeches before. The speech that the member for Fairfax gave sounded exactly like the speeches the member for Hume used to give. But whatever speeches they give down the road, they can’t obscure the fact that, when they were in office, they delivered nothing but deficits.

They doubled the debt even before COVID. They had spending as a share of the economy up around a third of the economy, and we’ve spent a great deal of time and effort cleaning up the mess that we inherited in the budget.

A couple of surpluses. A smaller deficit. $200 billion less Liberal debt. Saving on interest costs. $100 billion in savings.

The member for Fairfax [Ted O’Brien] might look like Scott Morrison… He might be undermining his leader like Scott Morrison did… ..but, more and more, he sounds like the member for Hume [Angus Taylor] And it didn’t work out real well for the member for Hume.

Super Ted (wearing his best suit) asks:

Q: My question goes to the Prime Minister, today’s ABS data Prime Minister, today’s ABS data shows inflation continues to accelerate under this government. Meanwhile, the Treasurer’s spending spree continues, forcing the RBA to keep mortgage rates on hold indefinitely. 29 days before Christmas, what does the Prime Minister have to say to struggling mortgage-holders facing no rate relief in sight?

Ted O’Brien is really trying to push this line, but it is not true. It is not the ‘treasurer’s’ spending which is pushing inflation – Grogs will have more on this for you very soon – I can hear him muttering across the office.

Albanese:

In 2025, there have, indeed, been three interest rate cuts. And that has provided real relief for people and, of course, two of those are after the budget that was handed down on 25 March. We know that those opposite have spoken about the culture of dependency when it comes to providing assistance for Australians. In the coalition’s opinion, if you’re an Australian who is getting cost-of-living help, we know that you’re opposed to that. Working in the public sector – well, we know that you’re opposed to them continuing to work in the public sector.

Or if you’re working in essential services, you’re an economic burden, and you’re bad for our national character. They think that Australians’ wages, Australians’ jobs, and support for Australians, deserves to be cut. That’s truly what they’re saying in their subliminal message – or not-so-subliminal, when they speak about the culture of dependency. Remember Joe Hockey, when he here, had similar language. Similar language, when he came to office.

For those opposite, they think everyone but them is a leaner. They think that. Well, we don’t think that. But who are the Australians they’re attacking? Pensioners and people caring for relatively young kids. People getting study allowance at uni or Rent Assistance. It’s the nurses, teachers, doctors, public servants all getting support. The ADF personnel…When you’re talking about spending – which is what the question went to – and the Coalition say that there’s too much spending, they’ve got to say what it is that they’ll cut.

What it is that is wasteful. The leader here – has actually said what she thinks is wasteful when she spoke about the culture of dependency. So all those people, for all those people…

We’ve heard it all before. They wanted to sack 46,000 public servants at the last election. They wanted people to stop working from home. We, on this side, want people to earn more, and we want people to keep more of what they earn.

There were a bunch of back and forths with interjections but it is Wednesday and we are very tired and it was not entertaining, which is the very least it could be

Let’s go girls.

First up:

Sussan Ley: My question is to the Prime Minister: Inflation has once again risen under Labor, and economists are now warning that interest rates may be forced up again, devastating news for families already cutting back this Christmas. The Prime Minister promised the Australian people that we had turned the corner on inflation. And his Treasurer assured them the government had inflation “under control”f today’s numbers show that Australians were misled. Prime Minister, why do Australians have to pay the price for Labor’s economic failure?

Anthony Albanese:

The latest figures confirm that Australian households are still facing cost-of-living pressures. We know that that is the case. When it comes to inflation, we also know that the work is never done, which is why my government is very focused on cost-of-living measures and on putting that downward pressure on inflation. When you have the withdrawal of state energy subsidies, you are always going to get…You are always going to get a lift.

But if those opposite are deeply concerned about inflation with a “3” in front of it, they must have been devastated when it had a “6” in front of it, which is what it had when they were in office. When it had a “6” in front of it, we had the most profligate budget handed down, in 2022, when it was at “6” and rising and they poured fuel on that fire.

We, on this side, have ensured, from Day 1, that we’ve been focused on delivering cost-of-living relief, while bringing inflation down and getting the budget in better nick.

That’s why we’ve produced one budget surplus and then a second budget surplus, and then a reduced budget deficit. And in May of this year, the coalition managed to come up with the extraordinary formula of commitment to increase everyone’s taxes but, at the same time, increase the deficit. Quite an achievement from those opposite.

On this side, what we have done, of course, is now eight consecutive quarters of higher wages, and we know that people’s living standards is about income in as well as payments out. We have lowered taxes for every taxpayer – not just some, as those opposite wanted.

And remember, the Leader of the Opposition’s claims that she would roll it back and she was against all of it when we made that announcement – that she would absolutely pose that. And of course, we then saw, when we announced on 25 March, another two income tax lowerings.

We saw them oppose that as well. And go to an election saying that they would increase – increase – everyone’s income tax for every single Australian taxpayer. We, on this side, will continue to do cost-of-living measures, because we understand that we wasn’t to give people assistance.

We are in the downhill slide to question time and I can tell this because I have just consumed my body weight in Milko chews, which is no small feat (I am not a small human)

Do what you need to get yourself through

Jim Chalmers has responded to the inflation figures:

New figures from the Australian Bureau of Statistics showed prices were steady in October but ticked up in annual terms.

Today’s annual result is higher than we would like but still much lower than what we inherited from our predecessors.

The flat monthly result in October was driven by falls in electricity and fuel prices, and a moderation in housing costs. 

The tick up in annual terms in part reflects temporary factors such as the timing of state energy rebates and volatile items such as travel prices. 

We know that households are still under pressure and that’s why our responsible cost of living relief is so important. 

Headline inflation was 0.0 per cent in the month of October but up 3.8 per cent in through the year terms. 

Underlying inflation was 3.3 per cent in the 12 months to October. 

When we came to office, headline inflation was 6.1 per cent and climbing – but it has now moderated substantially, which has given the RBA confidence to cut interest rates three times this year. 

Underlying inflation was hovering around five per cent but is now much lower.

Today marks the first time the ABS has released complete monthly CPI figures.

It’s an important change that will help inform decision-making into the future.

Inflation remains persistent in many advanced economies, and there have been recent increases in inflation in the United States, New Zealand and Japan. 

The global economy remains uncertain and people are still doing it tough, but Australia is well placed and well prepared to confront the challenges coming at us.

Ted O’Brien at the National Press Club has made a big play about government spending and the need for fiscal rules.

He suggested that government spending growth in the past year was not driven by the NDIS. And while he might be correct on the previous year, to ignore the NDIS on overall government spending is to ignore the main issue for why total government spending is larger now than in the past:

Government spending excluding disability support in 2024-25 was the same as it was in 2014-15 and 2015-16.

Also O’Brien also mentioned that the ALP has dropped the “fiscal rules” relating to tax and spending.

Let’s be clear – those rules were completely made up. Scott Morrison for example as treasurer suggested a tax cap of 23.9% of GDP. And he boasted that they remained under it. Well big whoops. The only ones who didn’t stay under it was Peter Costello in the midst of the mining boom

Fiscal rules are bullshit devised by conservatives to pretend we need to limit how much tax the government should raise or how much it should spend.

Antipoverty Centre spokesperson and Disability Support Pension recipient Kristin O’Connell said in response to the law change:

Labor have chosen to adopt a Turnbull policy they previously renounced in 2022 that entangles policing and the welfare system, undermining the rule of law and separation of powers. It is a policy that fuels prejudice towards welfare recipients in the precise way that Robodebt Royal Commissioner Catherine Holmes warned politicians against.

These extreme new laws, which involve police and government ministers in individual social security decisions, are an attack on the presumption of innocence, which we are all entitled to – regardless of our income level.

If the government believed it was doing the right thing, it would not do it like this. It would invite feedback from and listen to experts concerned about risks and disproportionate harms that will be felt by First Nations people, disabled people and people in violent homes and relationships.

Instead, Minister Tanya Plibersek chose to accuse these people and organisations of not taking rape and child abuse seriously, as they tried to raise the alarm about unintended consequences of this egregious attack on the rule of law. She should be ashamed of her conduct and, and so should every person who voted for this.

Welfare recipients have a right to be treated equally under the law, and should not be subject to punishment before having access to legal advice for any reason, ever. This heinous new law must be reversed.