SARAH FERGUSON: Was it humiliating for you to have to stand up and support Labor's changes to the tax cuts?
PETER DUTTON: We had stage 1, stage 2, and stage 3, so we've already put into the system about $200 billion worth of tax cuts. PETER DUTTON: I think the Prime Minister promised the Australian public on 100 occasions, he supported legislation, he went to two elections with a particular policy. I think what he has done now is not provide substantive tax reform that will address bracket creep.
I think it is absolutely the case that they've made a political decision. We've had stage 3 tax cuts, stage 3 as I say because we delivered $200 billion worth of tax cuts through 1 and 2, and the reform that stage 3 bought allowed us to address some of the bracket creep concern. Every economist points that out.
As a result, people's mortgages are staying higher. Australians, we know, under this Government are paying probably about $24,000 a year in after-tax dollars extra because of the 12 interest rate increases.PETER DUTTON: Well, absolutely within their control, because as the Reserve Bank Governor has pointed out, this is a home-grown problem.PETER DUTTON: The fact that our inflation, again, it's not for you to apologise for the Government.
SARAH FERGUSON: I understand that but let me put it in these terms. I think what you're saying is, this is good policy, you agree with it, you would do the same thing, I assume, but you certainly supported this. We support it on the basis, not of supporting his lie, but of supporting families who are hurting as a result of this.PETER DUTTON: The families who deserve that money.PETER DUTTON: And they won't get it until July, as you would point out, you would have been critical of the Prime Minister of that last night in the interview.
SARAH FERGUSON: If I may, I do want to push back against the characterisation that that is a Labor point. The cost of those tax cuts that you are going to reinstate is $9 billion. So there will be support that's required for many Australians to get back into a position that they were in frankly before the Prime Minister was elected.
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