The Point Live: Ley expected to follow Nationals on net zero to extend leadership, RBA holds rates. As it happened

There is a little thing for science week and then we get to the questions – and it is the same one as yesterday:

It’s the member for McPherson. (I have no room to learn their name right now and also, it is currently irrelevant.)

According to the ABS, there are now 34,000 more unemployed Australians than a month ago. Inflation is soaring above the RBA’s target band, leading to concerns about stagflation and every month, the average household is paying $1,800 more on their mortgage under this Labor Government. Is this what the Prime Minister meant when he promised no-one will be left behind?

Anthony Albanese:

I thank the member for his question. But it was an interesting use of statistics, because I was waiting for him to mention the fact that 1.1 million jobs have been created under this Government. I was waiting for him – and I forgive him because he wasn’t here, of course. If he was here in May of 2022, he would have known that inflation had a 6 in front of it and it was double what it is now.

He would known also that interest rates started to increase under the former government and that there have been, in fact, three reductions in interest rates this year, under this Government. He would have known, when it comes to fiscal policy, that they sat there, promised a Budget surplus in their first year when they were elected in 2013 and every year thereafter, and, in fact, they delivered just zero when it comes to surpluses but this, Treasurer, delivered not one, but two budget surpluses, the first consecutive Budget surpluses in 20 years.

He would also know when it comes to cost of living that this government has progressed a range of changes from cheaper medicines, the rolling-out of urgent care clinics, the tripling of the bulk billing incentive to lower health costs.

He would know that difference we’ve made in paid parental leave, in the superannuation guarantee have made a difference.

He would know that the minimum wage has increased everyone and every year under this government, something that is the direct result of the deliberations of the Fair Work Commission, but with the advantage of having submissions from a government that supports real wage increases, not opposes them, because the former government had low wage growth as a key feature of their economic architecture. He would know that as well. So the member is forgiven in his first term.

I congratulate him on his election for being here.

(Tim Wilson interjects and is told to shut it. If there is one thing that unites the whole parliament it’s despising Wilson, so then Albanese takes it as an easy win.)

Albanese:

From a bloke who spoke about the Wilson government online… (LAUGHTER) You know, you know, talk about fantasies! I think you’re safe there, Leader of the Opposition. I don’t know about the others behind you, but I reckon you’re pretty safe from this bloke. I reckon you’re pretty safe from this bloke.

As highlighted by my colleague Dr Morgan Harrington, Australians are the biggest losers in the world when it comes to gambling.

Last year, Australians’ net losses from gambling (losses minus any winnings) were $34.8 billion. That’s more than households spent on electricity, gas and other fuel ($29.5 billion) and alcoholic beverages ($26.8 billion). Don’t let their slick advertising fool you; the gambling industry destroys lives year after year, and they are actively trying to target new demographics such as women.

The gambling industry regularly hides behind things like charitable donations and support for local sports teams to keep its social licence and resist regulation. However, just as we no longer allow tobacco companies to name our sports trophies, it’s time to stop letting gambling companies whitewash their reputations like this. Australia is a low-tax country with low levels of public spending; if we want to fund charitable causes, local sports clubs and communities, we can do so in a way that isn’t built on human misery.

It is almost question time, so we are in the chamber and have to listen to the MP airing of the grievances (90 second statements) and Michael McCormack has written a whole thing comparing Labor MPs to a Melbourne Cup race, which he reads as a race caller.

OK, that’s enough now

On the Nationals self-destruction and the moderate Liberals attempts to justify the Liberals following suit when it comes to net zero Bowen says:

Net zero by 2050 isn’t a political construct. It’s a scientific requirement, agreed by 97% of the world’s scientists. The difference between the Government and the Opposition, we accept the views of 97% of the world’s scientists. The LNP appear to say they know people. If you want to heat the world 1.5 degrees warming, you need it by 2050. It’s essential. It used to be bipartisan in Australia. This is part of the, you know, reach back into science denialism that’s happening under the apparently modern Liberal Party. They are out of touch.

(If Labor accepted the views of 97% of the world’s scientists, it wouldn’t be opening new coal and gas mines)

Chris Bowen said it is about making power cheaper for consumers:

This is a reform in the best interests of consumers. I make no apologies for I work well with energy companies but they are not first. Consumers are put first. Energy companies will need to comply with these rules if they want to operate in default market operator states.

And then someone wants to know what the ‘catch’ is:

Bowen:

There is no catch. It’s up to people whether they take this offer up. They could look at this. We are requiring energy companies to make this an option. I think that’s a good thing. It’s not for everyone. If you can’t move your energy use to the middle of the day, it’s probably not for you. I understand and respect that. This was never claimed to be a one size fits all answer. As I said, someone working from home, who can put their washing machine on or the dish washer, pop downstairs while they’re working and say it’s 1:00 now. Power is free. I won’t do it tonight. I’ll do it now. Or somebody with an app. Or a retired couple who can match it from work or schedule EV charging while you’re at work. Maybe you went to work on the train, you can schedule the charging for 2:00 in the day where it will be precisely free. The only reason we can do that because Australians have gotten on with the job of harnessing the opportunities of renewable energy through roof top solar.

Chris Bowen is holding a quick press conference on the solar sharer plan, which will give people in eligible jurisdictions, three hours of free energy in the middle of the day (if they sign up to an eligible plan and have a smart meter) when solar power is at its strongest point in the grid.

Energy retailers are sad over it, because they say they were not consulted.

Bowen says it will be regulated and it is something that some retailers already offer:

The Australian regulator will regulate this. AGL and a few others offer this service. That’s great. I welcome that. This gives consumers the peace of mind that the AER, our independent regulator, has put the offers through their paces. And ensure there’s no price gouging going on. It’s in the best interests of the consumers. The AER will today or tomorrow release a discussion paper about the next DMO, taking feedback about how it will be implemented in detail but the Australian Energy Regulator has made clear to me that they see this as a very positive step which helps them do their job to put consumers first.

Over in the senate, and Greens senator Mehreen Faruqi has called for the ‘carnival of cruelty’ to be cancelled.

Here is what she had to say a little earlier in a statement:

Things keep going from bad to worse for horses in the racing industry yet the media, politicians and their mates in toxic gambling companies continue to pretend everything is okay. This is a stain on our nation.

Horse racing is not a sport, it is legalised cruelty for profit. The industry not only sacrifices horses, it goes to great lengths to hide its cruel and disgusting underbelly. 

Today, federal parliamentarians will be toasting to this cruelty, lunching in the Speaker’s Courtyard while more and more horses suffer horrific deaths to feed the gambling industry’s profits.

It is time to stop treating animals as disposable commodities. Both the Liberals and Labor receive political donations from gambling companies, who profit off losses that are ripped from vulnerable communities. The Melbourne Cup spectacle comes at a deadly cost to both animals and communities.

Let us end this carnival of cruelty, rehabilitate and rehome the horses, and stop the corrosive influence of gambling donations on our politics by banning them outright.”

There have been a few economists tearing their hair out at some of the jokes being made at the Nationals net zero position will mean net zero seats, because to them that makes no sense (I know wayyyyy too many economists and it is a problem, but that’s for another time)

Net zero is not real zero. Net zero in this context just means that the our carbon emissions are off-set and cancelled out. So we will still be emitting, but those emissions will be mitigated by carbon capture/new tech etc. Real zero is when we don’t emit emissions.

So the joke that the Nats will have net zero seats makes no sense because you can’t cancel the Nats out with non-Nats.

You could try for ‘Nat zero seats’ if you wanted to make the joke and not cause an economist’s brain to explode.

No judgements – everyone has to deal with economists in their own way.

In the Q&A, Pillay is asked what states can do to enforce the Genocide Convention. Pillay replies that it is not a choice, but a legal obligation:

“I would say to the Australian parliament that they have the duty to step in now.” 

Judge Navi Pillay, the 2025 Sydney Peace Prize winner, is speaking now at the Press Club. Judge Pillay is Chair of the United Nations Human Rights Council Independent International Commission of Inquiry on the Occupied Palestinian Territory, which determined that the Israeli government’s actions in Gaza constitute acts of genocide. Judge Pillay is speaking about her role in that commission, and women and security.

Judge Pillay noted that the United Nations and its member states have the responsibility to ensure that international law is fully respected and that those who violate it must be held to account. No one can say they did not know was happening in Gaza. Judge Pillay notes that the ceasefire agreement announced by the United States has nothing to say about international law or self-determination.

For more from Judge Pillay, you can listen to a recent episode of After America. Or, if you’re in Sydney, you can hear her speak this week. 

The Australia Institute is proud to partner with the Sydney Peace Foundation.