Peter Stefanovic
Live now the Shadow Foreign Minister, Ted O'Brien. Good to see you this morning, Ted. So how high are your expectations for any kind of result this week in Pakistan?
Ted O'Brien
Good to be with you, Pete. Well, certainly our hopes are high, and we want to make sure that we do see the two parties sit down and have the negotiation. I think a lot of the noise we've heard overnight is all positive, at least from the US end, that they are ready to engage, especially even from the President. And so that all bodes well. Of course, though we're at a very critical point, and nothing can be taken for granted Pete, at this stage.
Peter Stefanovic
Sure. Do you feel like. I was just talking to Stephen about this, but do you feel like this is just going to be a new normal?
Ted O'Brien
Well, I hope not. I think the Australian economy can't handle a new normal like this. Unfortunately, we go into this crisis very ill-prepared. If you look at what's happened previously, where Australia has entered a global shock, our economy has been strong, but now it's weak. Our people have been prosperous, but now they're poor. Our supply chains have been largely very self-reliant, but now we rely on other powers. We can't afford this to become the new norm, which is why I think we should all be hoping that we see peace prevail as quickly as possible. And in particular, the Strait of Hormuz reopened.
Peter Stefanovic
I mean new normal and you've got these, these global shocks that keep on happening now. Within the last decade, you've had Ukraine, you've had Covid, you've had Trump's Liberation Day tariffs, you've got this new war now. I mean, does that not need to energize what we do at home for the sake of national security?
Ted O'Brien
100% it does, Pete. Foreign policy starts at home. And we know that if you look at what happened in Covid. The country, here in Australia, we tackled that challenge from a position of strength because the budget was in balance. It was the same with the GFC. In both cases, the Coalition had gotten our books in balance. But right now, that's not happening, which is why this budget coming up from Jim Chalmers is so critical. We've been screaming about this, not since the war in Iran began, but now for years that this government has to stop its spending spree. You know, for us to have debt nearly hitting $1 trillion, to have well over a decade of deficits planned, for growth to be so sluggish, for productivity to be going backwards. Australia is in a very poor position, and as international affairs dictates, it might sound crude Pete, but unless you are rich, you cannot be strong. And so, we have to improve the budget.
Peter Stefanovic
To be fair, though. I mean, we talked about those international shocks so that they were not our fault. So, how much of that argument is legitimate that we're just on the receiving end of things that happened outside of our hands?
Ted O'Brien
Well, Pete, I don't think anybody is blaming the Albanese government for what has happened in the Middle East, nobody. But the responsibility of the Australian government is to build buffers when the times are good, so they can handle the times that are bad. And this government has had $400 billion of a windfall that they have only decided to go and spend, rather than bank the entire thing and reduce debt. That's left us in a far poorer position.
Peter Stefanovic
Are you relieved, though, that they're at least looking at the runaway spending of the NDIS?
Ted O'Brien
Yes, I am. I hope that's not the only thing on their agenda, though. You know you don't make Australia strong by only trying to fix the NDIS. Of course, the Coalition will be constructive in that regard, because we have been calling for them to get the NDIS in order. In order for it to be sustainable, to help those people most in need, it has to be financially sustainable. That's been the priority. They've made lots of promises before, Pete. They're making another one now. So, let's see what the budget delivers. But the answer to our economy is not the NDIS alone.
Peter Stefanovic
All right, yep, that'll be unveiled by Mark Butler, the Federal Health Minister, tomorrow. But Ted, good to see you. We'll chat again next week.
