Michael Atkinson
Thousands are taking to social media to call out those hoarding fuel as an increasing number of drivers hit the brakes and school excursions are canceled. For more let's bring in today's talkers, Shadow Foreign Minister Ted O'Brien and our very own Lizzie Pearl. Good morning to you both. Ted, let's start with you. It seems everywhere you turn, this fuel shortage is having a massive impact. Has the government lost control of this situation? Do you think?
Ted O'Brien
Atko, to be honest with you, I don't think they ever had control, and that's the problem. Unfortunately, they were just they were just sort of stunned and frozen from the get go. So we lost a few weeks there before they admitted we were facing a fuel crisis. And you're right, this has a human impact. You do have mums and dads who are struggling to get the kids to school because it pays so much at the Bowser. You know, you've got tradies who are struggling to fill up their ute. You've got truckies going to the depot and some of those depots are dry. And so this is the problem. It's actually hitting home now and I fear it'll only get worse from here.
Michael Atkinson
Yeah, offload one of those three or four properties. Finally, this morning, it's a trend that's been doing the rounds on social media these past few weeks, but one video this week caught my eye. Take a look. *** Music. He claimed to be the Lube Mobile kid, 133032 he did actually clarify that he is not the Lube Mobile kid. But it got me thinking, Lizzie, who did you wish you were in the 90s?
Ted O'Brien
Yeah, I went to the bowser just to top up yesterday and put a third in my tank and it cost me $100. You say you don't think the government's ever had control there's meant to be an emergency fuel plan released in coming days. Ted, if you were in government, if your party was in government, what would you have done differently?
Ted O'Brien
Well, I think the first thing we need to do is we need to cut the excise. So when you fill up your car, about 52 cents every single litre goes to taxation. So we need to cut that taxation, cut it in half for a three month period and to try to assist the Government, we've also found savings in the budget to pay for that. Now, that'll just make it easier for people who are struggling right now. Secondly, they need to have like, a dashboard of data, of knowing exactly where the fuel is today and where it needs to get to, so that the responsible minister can pick up the phone, go to the companies and say you need to move it from A to B. The government says we have enough fuel in the country, but you've got about 600 petrol stations completely dry, so the obligation is to move it to where it's needed, but also to cut the excise so that Australians aren't stung as much as they are.
Michael Atkinson
Lizzie, this crisis is getting so serious that you can forget about winning a meat tray down at your local RSL or Bowls Club. You know, those places are now raffling off fuel vouchers this... You know, that's funny, but that actually points to how serious this is.
Lizzie Pearl
It does, isn't it? And people are desperate. And it's not just the extra $40 or $50 or $100 to fill up your tank every week that people are facing it's the knock on effect, you know, it's, it's catching an Uber it's sending a parcel, it's coffee prices, I paid $7 for a coffee this week. So it is really, you know, going through everywhere. And the longer these high prices remain, the longer the conflict remains in the Middle East, the more these prices become entrenched. And I am cringing to think about what our inflation figures will be when they next come out, it is not going to be pretty, and that, of course, means interest rates, doesn't it?
Michael Atkinson
Yeah, don't mention that.
Lizzie Pearl
No, no, I'm sorry.
Michael Atkinson
From fuel to real estate, Aussies selling their homes are being warned their sales could fail this weekend, as buyers fear further interest rate hikes. As Lizzie just pointed to. Ted, properties going to auction this weekend were listed before the latest rate rise. How much of a test will this be for the market, do you think?
Ted O'Brien
I think it will be, and it's a it's a sad indictment of the situation when it takes war in the Middle East to make housing more affordable. And it'll be different across the country, I suspect too Atko. I mean, this morning, the main news was out of Victoria that it looks as though they won't get the clearance of a lot of the sales. Mind you, it's probably because half the Victorians are up in my neck the woods, they've all moved up to the Sunshine Coast. So might have a little bit to do with that too.
Michael Atkinson
Lizzie rate rises aren't great news, but is there a silver lining maybe, for first home buyers could flatten prices a little bit?
Lizzie Pearl
Yeah. Look, possibly, it's all relative, though, isn't it? I mean, just going for a walk in my neighborhood the other day, I noticed a lot of for sale signs on properties and apartments. So I think there is a lot of investors who might be offloading that extra third or fourth property that they've got, which, of course, will put more supply into the market, which you think would drop the prices. However, we're all in the same boat. If interest rates go up, first, home buyers have to be able to afford those interest rate repayments as well. So I think, yes, increased supply will make it a little bit easier, but if you can't afford an interest rate rise, you can't afford home.
Lizzie Pearl
Okay, 90210 was very big when I was in the 90s. I all I wanted to be was Kelly from 90210. There she is. I mean, look at the resemblance. It's uncanny. I think it was mainly because people of my era will be very aware of Dylan, the other character of 90210, Luke Perry rest his soul. And yeah, so that was me in the 90s. I mean, Spot the difference.
Michael Atkinson
Ted, what about you? Did you want to be Kelly as well?
Ted O'Brien
No, not exactly. Lizzie. You can have that one. But I have to say, I do admit to having liked Kelly. But, I didn't want to be Kelly.
Michael Atkinson
Fair enough. Outstanding stuff. Alli, I'm not sure who you wanted to be, but I'm sure it was someone as glamorous as Kelly.
ENDS
