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David Poole

English barrister

Jul 18, 2026

11:21
did you walk over to the, I did
11:22
a lot of their attractions.
11:24
I did a lot of the fantasy land.
11:27
Um, they, they have, um, they have a Baymax ride in there.
11:32
How was that? It was fun.
11:33
That was the, it's kind of like the, um, The one we have where maters ride, maters swinging, whatever, you know, they swing around.
11:45
The attraction there is the cast members, during the ride, once they push the go button, they have to sing and dance and wave their feet at you.
15:16
What are your thoughts on that? Have you thought the same
24:55
But they've also got some modeling in there that they could hit, inflation could hit as high as 7%, and growth goes backwards of course, so the prospect of a recession's not out of the question, is it?
25:09
No, and I think Michelle Bullock and her board are desperately worried that the further interest rate increases they probably have to deliver, given their errors last year and given the extra stimulus this budget's putting into the economy, could tip the economy over into recession.
25:28
That's why, as I wrote in The Australian today, Peta, the single biggest challenge for this budget was to take demand out of the economy and take pressure off the RBA.
25:39
That was our best hope to avoid further recessionary interest rate increases.
25:45
And Jim Chalmers, instead of focusing on that, focuses on side issues and diversions.
26:27
So I, I, I think this is absolutely Mickey Mouse, and the growth still for the NDIS is above trend inflation.
26:38
It is.
26:38
The NDIS is an uncapped program.
25:36
if you end up pulling this much out as a gross saving, but spending way more.
25:43
Well, if you or your listeners go back to budget speeches delivered by real Treasurers, Peter Costello and Paul Keating, when we did have an inflationary problem in the past, they would get up on the dis- before the dispatch box and say, "We will cut real spending growth over the next two, three, four years," and they delivered on that.
26:04
Jim Chalmers does not use that language.
26:07
He says he will save, there will be savings in the budget.
26:11
Budgets are $80 billion a year.
26:13
It's very easy for a government to identify $100 or $200 million of programs that may be, um, coming to an end.
26:22
Chalmers never says there will be a cut in real spending growth across the board to take pressure off the economy, and he also does not have a balanced budget target.
28:29
That's gonna make it harder to get inflation down.

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