Karl Stefanovic has clashed on live television with Anthony Albanese over the impact of the cost of living, inflation and rising interest rates on everyday Aussies after handing over the budget last night.
While welfare recipients, renters and single parents are among the big winners, middle-class Australians struggling to pay sky-high mortgages are getting next to nothing.
Stefanovic repeatedly asked whether the budget will put pressure on inflation, while Mr Albanese refused to give any assurances that there will be no further rate hikes.
He also spoke on behalf of millions of Australians struggling to make ends meet.
“I just want to talk, if I may be so bold on behalf of everyday Aussies. I think people are really struggling,” Stefanovic began.
“They want to know when their bills go down and mortgages stop going up? What guarantee in this budget that any of those things will happen?’
Karl Stefanovic has tough questions for Prime Minister Anthony Albanese on Wednesday
Mr Albanese used the question to highlight the positive points of his ‘responsible’ budget.
“That is why we have lowered the energy price,” the prime minister replied.
‘That is why cheaper childcare will start on 1 July. That’s why we reduce the cost of medicines. That’s why we’ve tripled the bulk billing incentive.”
“This is a responsible budget, one that helps lay the foundations for the strong economy we have promised to deliver a better future while taking care of people.
“Because we understand that people are under financial pressure. That is why we have included this support in the budget.’
Mr Albanese has been asked several times whether the budget will affect inflation.
“Well, Karl, if I were standing in front of you right now talking about whether our deficit was too high, there might be a fight,” he said.
The truth is that our projected surplus is the first in 15 years.
And we’ve been working hour after hour, day after day, week after week since October’s budget to put together a responsible budget that delivers that brighter future, that provides those measures that take the pressure off people who need, without putting pressure on inflation.’
Stefanovic wasn’t done with the tough questions yet.
“Given what you said about the budget and inflation, can you guarantee there will be no more rate hikes?” he asked.
Mr Albanese replied: ‘As you know Karl, the RBA is independent and no one can speak for the Reserve Bank.
“What we can do, as responsible economic managers, is to pass a budget that is responsible, we did that last night.”
“Are you going to raise taxes?” Karl asked Albo, before the prime minister evaded the question.
“Well, Karl, we just prepared a budget last night, all the measures we considered are visible to everyone”
Later that morning, Karl Stefanovic accused Treasurer Jim Chalmers of “leaving the door open” to mess with the Phase Three tax cuts.
“Can you promise this morning that you won’t make any tax changes?” Karl Stefanovic asked Dr. Chalmers.
“The tax cuts are legislated,” Dr. Chalmers replied.
We have not changed our position on that. They are coming in over a year. In the meantime, we have other priorities.’
“Okay, sorry to interrupt. This is just one thing I wanted to get squared away. That’s all you say. But can you close the door to future changes this morning?’
“I think I’ve been pretty clear, Karl,” the treasurer replied.
We have not changed our position. We haven’t actually discussed it in the context of this budget to change our position on that. They are laid down by law and fall under the line of the budget. I took care of the costs.’
“You leave the door open, Jim,” Stefanovic replied.
‘I don’t think I am, Karl. We haven’t changed your mind and we haven’t talked about changing ours. They are laid down by law.’