Peter Stefanovic, Host: You're watching First Edition, folks. Thanks for your company. Well, is the shine starting to come off One Nation? Well, for a second month in a row, support has dipped. That's according to both Newspoll and Resolve out today. Still rates higher than the Coalition though. But a trend does appear to be emerging. Joining us live this morning is the Assistant Foreign Minister, Matt Thistlethwaite. The Liberal Senator, Maria Kovacic. Good morning to you both. Let's briefly start here because it is a second month in a row which means something of a trend. Have you got a view on that, Matt, today?
Matt Thistlethwaite, Assistant Minister for Foreign Affairs and Trade: Well, I think that Australians are starting to work One Nation out. It's a party when every opportunity that they've had to vote in the Parliament to support better rights and conditions for Australian workers, they've voted no. So, they voted no to stop same job so pay for Australian miners, they voted no for better conditions for truck drivers, they voted no for better conditions for gig economy workers. When they get the opportunity to vote to support Australian workers, they always vote no. And I think Australians are working that out.
Stefanovic: Well, let's get your thoughts on that, Maria.
Maria Kovacic, Liberal Senator for NSW: Look, I think, as I've said many times, the only poll that matters is the one on election day. But what it does point to is that trend that you speak of, Pete. The thing that's important for us is that we keep doing the work to repair our position with Australians. We've recognised where we've done things wrong. Our leader, Angus Taylor, has been very clear about that. And we're working hard to rebuild trust with Australians. But I have to say there have been a number of missteps from One Nation recently, particularly in relation to their campaign director who's recently been fired. We actually don't know whether he's been fired or not. I think the messaging was that a deal has been made with him. We don't know what kind of a deal. And I personally was very concerned to hear One Nation say, you know, that they were, you know, worried about him and they felt sorry for him. Well, to be frank, I feel sorry for the woman that was violently raped. Let's be frank about that.
Stefanovic: Okay, we'll move on now and onto a policy front. The Sydney Morning Herald reporting today that Jim Chalmers is likely reverting the capital gains tax system back to the old one used by Hawke and Keating. Rather than a big drop to the discounts complex. It's going to confuse a lot of people and require more work from accountants. Are you seriously considering this, Matt, or your government, or is this just a kite that's being flown?
Assistant Minister: Pete, our policies on capital gains tax haven't changed in terms of tax reform. Our priorities, at the moment, are delivering the tax cut to Australian workers that we took to the last election, the standard deduction, and of course, the changes that we've made to superannuation. The Treasurer and the Prime Minister have identified that there is an intergenerational issue with housing affordability in Australia. We've got a number of policies that are aimed at boosting supply, but I do think that we need a further conversation about what we can do to improve housing affordability for young Australians, because clearly the current system isn't delivering that housing affordability that young Australians need.
Stefanovic: Right, but do you understand the old capital gains tax system?
Assistant Minister: It's certainly a long time before my period in Parliament. At the moment, as I said –
Stefanovic: So that's a no.
Assistant Minister: Our policies, I certainly get the crux of what was in the past, but that policy is not changing. Our policy on capital gains tax hasn't changed. But I do think that we need to have a look at the broader issue of housing affordability, because in the electorate that I represent, we've got schools that have shortages of teachers because teachers can't afford to live here anymore. The local Prince of Wales Hospital is predominantly being run by British and Irish nurses because local nurses can't afford to live here anymore. And that's a huge issue around housing affordability. And I think that we need a conversation about what further we can do to boost supply and make housing more affordable.
Stefanovic: Well on the old capital gains tax system. Peter Switzer tried to explain it to me last hour in your defence, Matt, and my eyes glazed over. But, Maria, your take on whether this is a good or even better option than the capital gains tax discounts that are also amongst kites being flown?
Kovacic: Well, I have to say that's a proper no from Matt. I don't think, I think he did really well, given the difficulty of answering that one. Look, I think what this is really about, it's not about intergenerational equity, let's be frank. This is the highest spending government in some four decades, and as a result, they need to plug their spending holes and they're doing that with tax, tax and more tax. If, as Matt says, you actually want to increase supply of housing, which I've been talking about every single day since I've been in the Parliament for almost three years, then you don't actually tax that more. If you want to increase supply of housing, you don't make it more expensive to put housing into the system. That does not make any sense. I don't think this government knows what to do. The Albanese Labor Government has lost complete control of the economy and Australians are paying the price for that.
Stefanovic: Let's just into your wheelhouse, Matt, foreign affairs. Peace talks are on. They're off. They're on. Hormuz is open. It's closed. It's open. It's closed. How farcical is this becoming, or is it all just part of the dance?
Assistant Minister: It's pretty concerning, Pete. As you say, the Straits open one day and then it's closed the next. What is clear is that ships aren't getting through and that of course, is a great danger for the international economy and it's meant that Australians have been paying more at the bowser than they should and it's having an effect on cost of living. That's why we put in place those policies to reduce the excise, to supply more fuel with the reserve and that's been working. The cost of petrol has been coming down, but longer term, we need that straight to reopen. So, these peace talks are going to be crucial and we need an outcome.
Stefanovic: Right. Can you at least elaborate on what our role is going to be in securing the Strait of Hormuz once peace talks are finalised?
Assistant Minister: Well, we've certainly offered to play our part to ensure that the Strait remains open if we can get an outcome between the United States and Iran.
Stefanovic: Yeah, but what will that be?
Assistant Minister: Well, I can't speculate at the moment because we don't know what the request is and that's the key. There's been no request at the moment from the United States regarding the role that Australia would play. But the Prime Minister and the Defence Minister have indicated that we're willing to do our bit to try and keep the strait open and that's what's going to be important for the international economy.
Stefanovic: Let's just close on this point. You might not be aware of this, Matt, but it's just come through. So, you might be aware that an Iranian tanker has been seized this morning by US marines. Just in while we've been talking, Iran has responded. And this is according to reports that Iran has now attacked some US military ships with drones. I guess, broadly speaking, how. These are the pictures from earlier. How concerned are you about this, this, this new flare up?
Assistant Minister: Yeah, that is concerning because we want to see a de-escalation. The only way the Straits can reopen is if there's an agreement that's reached between the United States and Iran and that footage that you're showing is demonstrating otherwise. So, that is deeply concerning.
Stefanovic: All right. Matt and Maria, always good to talk to you. We'll have to leave it there, but thank you. We'll talk to you again next week.