Budget reactions, from love to hate + Iran still has missiles
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a listener production. Hi, Natasha Belling with you and welcome to the afternoon edition of The Briefing. Coming up in our deep dive, a brave budget or a budget filled with expensive blunders. We'll speak with a political journalist to unpack all of today's developments and what it means for our country moving forward. But first, let's check the afternoon headlines this Wednesday, the 13th of May.
What are the politicians' reactions to the federal budget?
The Prime Minister and Treasurer have been out defending the government's budget today despite breaking a number of key election promises to not make any changes to negative gearing or capital gains tax concessions. Anthony Albanese justifying the broken promises saying they've changed their position to try and fix the housing crisis and intergenerational inequity.
The Australian dream of owning your own home is something that was increasingly disappearing. And importantly, that creates social dislocation. If you have two classes of people, homeowners and non-homeowners, permanently shut out of the housing market, then that doesn't do anything for social cohesion. So we wanted young people to have a crack. We were convinced that this was the right thing to do.
Meantime, the opposition is arguing the budget will, quote, kneecap the younger generation, arguing it won't help more people buy homes and will even push up rents.
Frankly, they are an assault on aspiration. They are going to undermine wealth creation and prosperity creation and our standard of living in this country. And so we will fight against them all the way to when this legislation comes to the parliament and beyond, if necessary. Our aim, though, let me tell you, is to ensure this legislation doesn't get through the parliament.
And One Nation MP Barnaby Joyce has lashed out at the new budget, saying it's too tax-heavy and will kill investment.
I think people who have assets have paid for them out of post-tax profits, post-tax money. They've already paid tax. Ordinarily. And in a frugal way, and I'm sure you are as well, they put money aside for a rainy day in an asset, and now the government's saying, no... you would be better just peeing it up against the wall because Uncle Jimmy's going to take it in any case. So don't put it away for a rainy day. Don't try and invest in something. Just whoop it up. Go overseas, buy a new boat, buy a new house, buy a new car. You don't need to save because if you do save, Uncle Jim's going to take 50% of it.
And we'll speak with senior political journalist Tim Lester from Channel 7 in just a moment to unpack all of today's key developments. In overseas news, US intelligence agencies have reported that Iran's military is a lot stronger than Donald Trump has claimed. Publicly, the US president had argued Iran's military capacity had been shattered. But a report in the New York Times says that intelligence agencies have found that 30 of 33 Iranian missile sites are now operational again. Only three of Iran's missile sites remain totally inaccessible. The Secret Intelligence Assessment also stated that Iran has retained around 70% of its pre-war missile stockpile. Also in the US, FBI Director Kash Patel is under fire after being questioned in the Senate.
Democrat Senator Chris Van Hollen asked Patel about media reports that say the FBI director drinks alcohol to excess in a way that allegedly compromises his job. Here is how Patel responded to the senator's allegations in that hearing.
Unlike your baseless reports, the only person that was slinging margaritas in El Salvador on the taxpayer dollar with a convicted gang-banging rapist was you. The only person that ran up a $7,000 bar tab in Washington, D.C. at the lobby door was you. So the only individual in this room that has been drinking on taxpayer dime during the day is you.
Kash Patel is suing The Atlantic magazine for defamation. The Atlantic was one of the first media outlets to report on Patel's alleged excessive drinking. A coronial inquest has started into the death of 95-year-old Claire Nowland, who in 2023 was tasered in an aged care home in southern New South Wales and later passed away.
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