Live: Grace Tame reacts to PM’s comment labelling her ‘difficult’

Grace Tame has reacted to the prime minister’s description of her at an event in Melbourne yesterday.

When asked what he thought of Tame in one word during a series of rapid-fire questions, Anthony Albanese said “difficult”.

This morning, Tame reposted a series of social media posts supporting her, including one saying: “‘Difficult’ is the misogynist’s code for a woman who won’t comply. History tends to call her ‘courageous’.”

Greens Leader Larissa Waters says labelling women as “difficult” won’t “stop us from speaking truth to power”.

“Next time, try ‘unbreakable’ or ‘warrior’ or ‘fierce’, prime minister,” Waters says.

ACT senator David Pocock says Anthony Albanese’s criticism of him on a podcast was needlessly personal.

Senator Pocock has produced a series of videos on social media highlighting Australia’s beer tax raises more revenue than the gas industry pays in Petroleum Rent Resource Tax (PRRT).

When asked about this issue on the Karl Stefanovic Show podcast, the prime minister said:

“David Pocock is someone who seeks to promote grievances well”.

Senator Pocock was just asked for his response on ABC Radio Canberra.

“The thing I’ve seen in politics is when you really have some politicians on an issue — whether it’s gas exports or banning gambling ads — rather than continue to debate the issue, they just get personal as a way to get away from that issue ,” Pocock says.

“This is clearly a sore point for the Labor government, that we’re still happy to give away so much of our gas for free, while we say to so many Australians in aged care, health, and education, ‘Sorry, the budget’s too tight.”’

The CEO of Australia’s largest bank, Matt Comyn, says he agrees with former RBA governor Bernie Fraser that there’s a case to be made to abolish the capital gains tax discount.

A Senate inquiry this week heard from Fraser on the merits of changing the CGT.

Asked categorically on 7.30 whether he wanted to see the CGT discount abolished, Comyn said: “Reducing the discount … I think that’s certainly something that should be given careful consideration.”

Comyn also said Australia was too reliant on income tax.

“I mean, a big part of intergenerational equity is there’s too much of a burden on labour in terms of people who are working, paying too much income tax,” he said.

“We’ve got to make sure that the tax system is fair. I mean, I think it’s broader than that clearly, but I do think that’s an important aspect.”

Asked whether he’d shared his opinions with Treasurer Jim Chalmers, Comyn responded: “Yes, I have.”

Treasurer Jim Chalmers says the government has had “good discussions” with the Greens on increasing the tax rate on superannuation balances.

Chalmers bowed to pressure last year and announced a reworking of its superannuation taxation policy.

The treasurer wants to increase the tax rate on super balances above $3 million to 30 per cent, and to 40 per cent for balances over $10 million.

Labor needs the support of the Coalition or the Greens to pass the changes through parliament.

Speaking to ABC Radio National Breakfast, Chalmers says while there’s no agreement with the Greens yet, conversations have been happening.

The treasurer has urged the Coalition to back the legislation.

“I want to thank the Greens for the constructive way that they’ve gone about these discussions, and frankly, I think the Coalition should support this too,” Chalmers says.

“If they care about the intergenerational issues in our tax system, if they care about making it fairer for people with low balances, then they should support the legislation because if they vote against this legislation, they will be voting for less super for people on low incomes,” he says.

The treasurer says the federal government will deliver an “ambitious” federal budget that recognises the financial pressure on people.

The Australian Financial Review reports Treasury is working up an option to cut the capital gains tax discount from 50 per cent to 33 per cent.

It could be applied retrospectively to all asset classes and raise up to $5 billion a year, according to the report.

Jim Chalmers says the budget will also address the inflation and “long-standing” productivity challenge.

“These are the key factors and pressures that we’re focused on as we get closer towards making some key decisions about what will be and won’t be in the budget in May,” Chalmers says.

He says there will be more savings found in the budget.

Treasurer Jim Chalmers has phoned into ABC Radio National Breakfast following the release of yesterday’s inflation data.

Australian Bureau of Statistics data shows the inflation rate remains steady and above the Reserve Bank’s target band.

Chalmers says inflation is higher and longer lasting than the government would like it to be.

“We have made a lot of progress together as a country since the peak of inflation in 2022,” Chalmers says.

“But it’s higher than we’d like for longer than we’d like, and that means there’s more work to be done.”

Opposition Leader Angus Taylor hasn’t ruled out doing a preference deal with One Nation at the next election.

The latest Newspoll shows the right-wing minor party overtaking the Coalition on primary votes.

Asked whether he would do a preference deal with One Nation, Taylor says the election is still “18 months or two years away”.

“We’re several years away so you can get into the ruling real out game if you like but I will always show respect for people who have left us,” Taylor says.

The opposition leader says he would support reducing the marginal income tax rate below 40 per cent.

Former Treasury secretary Ken Henry has backed cutting the capital gains tax discount and called for the the top marginal tax rate to drop below 40 per cent.

Angus Taylor says he would “of course” support reducing income tax and has declared he’s a “big believer in lower taxes”.

Speaking to Sky News, he says inflation is pushing people into higher tax brackets.

But asked if he was considering changing the tax brackets, Taylor wouldn’t be drawn.

“I’m not announcing policies on this show. I’ll tell you our priorities, which is lower taxes. There’s no question about that,” Taylor says.

Opposition Leader Angus Taylor has joined Sky News where he’s been asked about the latest inflation data released yesterday.

Headline inflation remained at 3.8 per cent in January, unchanged from December, in seasonally adjusted terms.

The opposition leader says the government is “ramping up spending endlessly,” which he says is driving inflation.

Asked if he would support spending cuts to reduce debt, Taylor has sidestepped the question and says he’s offered to work with Labor.

“When the government runs out of money, it’s going to come after yours and now it’s talking about tax hikes, but who knows where they’ll go next,” Taylor says.

The Australian Financial Review reports Treasury is working up options to cut the capital gains tax discount from 50 per cent to 33 per cent.

Taylor says it shows the government’s economic policies have failed and that the Coalition is opposed to any change.

“We’re not in favour of whacking another tax on housing when we need more houses,” he says.

China’s foreign ministry has reacted to the prime minister’s evacuation from his official residence in Canberra on Tuesday.

Anthony Albanese was moved from The Lodge following a bomb threat linked to performances in Australia by classical Chinese dance and music group Shen Yun, which is banned in China.

The bomb threat was sent to Shen Yun’s local organisers, falsely claiming that explosives had been placed around the PM’s residence.

Chinese foreign minister spokeswoman Mao Ning said Beijing opposed “all forms of violent attacks” when asked by ABC News to respond to the threat.

“It must be pointed out that the so-called ‘Shen Yun’ performance is not a normal cultural activity at all, but a political tool used by the Falun Gong organisation to spread cult information and amass wealth,” the spokeswoman said.

“In recent years, the so-called ‘Shen Yun’ performing arts troupe’s systematic abuse, illegal employment, and mind control of its staff have been repeatedly exposed. We hope that all sectors will remain vigilant.”

Tim Wilson says Labor should pursue lower income tax rather than cutting the capital gains discount, but has stopped short of promising income tax cuts if it wins government.

Treasurer Jim Chalmers has previously left the door open to making changes to the capital gains discount.

The Australian Financial Review reports Treasury is working up the option of reducing the capital gains discount for housing investors from 50 per cent 33 per cent.

It could be applied retrospectively to all asset classes and raise up to $5 billion a year, according to the report.

Speaking to ABC Radio National Breakfast, Wilson says cutting the capital gains tax will punish young people.

“Jim Chalmers’ only answer is to increase taxes, particularly on housing,” Wilson says.

“It’s an old rule of economics: if you want less of something, tax it more. If you want more of something, tax it less.”

Asked if a Coalition government would deliver income tax cuts, Wilson says the opposition would “always work towards it”.

But pressed on whether it will be Coalition policy leading up to the next election, Wilson has left often the possibility of not bringing forward any tax cuts.

“We have to wait see what bonfire we have inherited from the current government,” Wilson says.

Shadow Treasurer Tim Wilson says government spending is pouring “debt petrol on the inflation fire”.

Headline inflation remained at 3.8 per cent in January, unchanged from December, in seasonally adjusted terms.

That inflation rate was well above the Reserve Bank’s target band and could lead the central bank to hike interest rates.

Speaking to ABC Radio National Breakfast, Wilson says the treasurer has been in “denial” that government spending isn’t linked to inflation.

Wilson says the PM’s reported request for ministers to find savings shows Anthony Albanese is “calling out” Jim Chalmers.

He wouldn’t say what areas the Coalition would target to cut government spending.

“This is a homegrown challenge and as long as state and federal governments continue to spend as they are, inflation will continue to be a problem for the economy,” Wilson says.

Hello and welcome to today’s federal politics live blog! It’s great to have you join us this Thursday morning.

I’m Josh Boscaini joining you live from Parliament House in Canberra, here and ready to bring you all of today’s federal politics news.

Let’s get into the day and see what it brings us hey!

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