ZHI SOON, MEMBER FOR BANKS: Good morning, everyone. It is an absolute pleasure to be here in East Hills. Firstly, I'd like to recognise that we are on the land of the Bidjigal people and acknowledge their continual custodianship of the land, waterways in this area for generations. I also wanted to say a particular thanks to Julia, Stefan and little Artie for welcoming us to their home here in East Hills. And we're here to talk about a very exciting topic, that's very close to my heart with a young little girl called Dorothy, who's seven months old. And so it is with absolute pleasure that I welcome the Prime Minister and the Minister for Social Services, Tanya Plibersek, to the electorate of Banks. So I'll hand over to the Prime Minister.
ANTHONY ALBANESE, PRIME MINISTER: Well, thanks very much, Zhi, and it's great to be at my first visit to Banks with you as the local MP here, and congratulations on your outstanding result in the election campaign. I had brekkie a bit earlier on today in Panania, and people think you're going real well, so well done to you. Thanks to Julia and Stefan and little Artie for having us in their home here to talk about just one of the measures that come in place next week, on July 1. My Government was committed to making a difference to cost of living and improving the lives of Australian families, and the changes that we've put in place that will come into being next week on July 1 will make an enormous difference. The lifting again of Paid Parental Leave up to 24 weeks, rising to 26 weeks next year, will complete the six months of Paid Parental Leave that is so important for working families. But importantly as well, adding superannuation to Paid Parental Leave from next week will make an enormous difference.
In addition to that, there will be a pay rise for some 3 million Australians who are on the minimum wage or on award wages - around 3.5 per cent pay rise for 3 million Australians. In addition to that, there'll be a 30 per cent discount on home batteries to permanently cut power bills will be available from next week, on top of the $150 that will take off power bills between July 1 and the end of this year.
We're also focused on how we build a stronger Australia in the medium term, and part of that is building up our skills. We have implemented paid prac for student nurses, teachers, social workers and midwives. Now we know that will make a major difference, both in attracting young Australians or people retraining to go into those careers where we need - more teachers, we need more nurses. And I think most Australians would be surprised to think that a student doing such a valuable career needs to leave their part time work, or however that they're getting through their university period in order to get that practical experience without pay. So paid prac will make an enormous difference. It's a practical plan. In addition to that, the policy I announced at the National Press Club in January this year of a $10,000 cash bonus for tradies in construction will also attract blue collar workers and people, young men and women or people retraining, to go into construction. This comes on top of the plan that's already in place for people doing electrical and new energy apprenticeships of a $10,000 incentive as well.
So all of these measures together will make an enormous difference. And in addition to that, we are extending the Instant Asset Write Off from July 1 next week as well, the $20,000 assistance for small business. Now these measures together come on top of the inflation figures we saw this week of just 2.1 per cent headline rate. We know the Reserve Bank target is between 2 and 3 per cent - 2.1 is an outstanding result, and we've already seen two decreases in interest rates as a direct result of the hard work that Australians have done to bring down inflation. We're really proud as a Government that we have got inflation down whilst keeping unemployment low and getting wages up, whilst providing the sort of support that we're giving to working families through Paid Parental Leave and through now adding superannuation to it. I'm going to call upon Tanya, our Social Services Minister, and then we'll hear from Julia about her local experience.
TANYA PLIBERSEK, MINISTER FOR SOCIAL SERVICES: Well thank you very much, Prime Minister, and thanks very much Zhi for welcoming us to your electorate. And, of course, to Julia and Stefan for welcoming us to your home. We've got some great news today for Artie and Dot, we've just made it easier for them to get a little brother or sister. By adding to the Paid Parental Leave family of benefits, we will make it easier for families to take that time off to welcome the newest member of the family. On the first of July, we're adding to the money available through Paid Parental Leave, we're adding to the time available through Paid Parental Leave, and for the first time ever, we'll be paying for superannuation on top of Paid Parental Leave. From the first of July, parents will receive an extra two weeks of Paid Parental Leave, and of course, they'll be able to take a whole month off together. Instead of two weeks together, they'll be able to take a month off together. We're increasing the amount of money that people will receive because of increases in the minimum wage, as the Prime Minister said, because of increases in the minimum wage, the rate of Paid Parental Leave will increase so parents will receive around an extra $775 through the course of their leave because of that increase. We're also paying superannuation for the first time on Paid Parental Leave. Australian women have told us that for too long they've been penalised at retirement for their caring responsibilities during their working lives. Adding superannuation to Paid Parental Leave means that families will be better off by about $4,200 in retirement. It's not fair that if you take time out of the workforce to care for your young family, that's expressed as poverty in old age. These are really important supports for Australian families, and it's a pleasure to be here today to hear from Julia about what a difference Paid Parental Leave can make.
JULIA PRYKAZA: Thank you. So Stefan and Arthur, Artie, and I welcome the Prime Minister and Tanya and Zhi to our home. And we're really thankful to hear about the changes that are coming to Paid Parental Leave and some of the other cost of living measures as well. As a young mum and as a person that's recently returned back to work from maternity leave, and also a teacher, it's very reassuring to know that people within my community as young mums and as teachers are being looked after and we're being cared for. There's a lot of considerations that I personally made about going back to work and how I was going to manage that, and the financial aspect is definitely one of those things. So knowing that there's more money and more time for Stefan and I to spend together in the future if we have another child, and also that money that's secure in our superannuation will make a really big impact for us. So we are very grateful and very thankful. And it's been wonderful to be part of being able to discuss that today.
PRIME MINISTER: Thank you. Thanks for having us in your home again. Happy to take some questions.
JOURNALIST: Prime Minister or Minister, what would someone (inaudible) save in retirement with this extra superannuation (inaudible)?
MINISTER PLIBERSEK: Thanks so much. Paying superannuation on top of Paid Parental Leave means that a family will be about $4,200 better off in retirement. When you ask about women, it depends a little bit about which parent is taking the leave. Obviously, we've made the leave more flexible. It means that in most instances, obviously it's mum that takes most of the leave, but in some families it's shared equally, or dad takes more leave. But a family will be about $4,200 better off in retirement because of this one measure.
PRIME MINISTER: Importantly, as well from next week, another of the changes that will be made for everyone is lifting the Super Guarantee from 11.5 to 12 per cent as well.
JOURNALIST: The US Treasury Secretary asked congress to draw up a so called ‘revenge tax’ against countries like Australia after reaching an agreement with the G7 countries on tax. What’s your reaction to that and what does it mean for Australia?
PRIME MINISTER: Well, we raised this issue with Secretary Bessent when I met with him in in Canada on the sidelines of the G7. This would adversely impact on Australian investment if it had have been implemented, particularly on investment from superannuation companies. And one of the things that we held earlier this year in Washington DC was a roundtable of Australian investment funds who are willing and keen to invest in the United States - just one way in which the Australia-US economic relationship is an important one.
JOURNALIST: Prime Minister, are you worried about any potential backlash from President Trump for not increasing defence spending to 3.5 per cent? He has threatened tariffs on Spain for not doing so.
PRIME MINISTER: Well, we have increased our defence investment. We've increased it by $57 billion over the medium term and by more than $10 billion in the short term as well.
JOURNALIST: Prime Minister, along a similar line, Spain is facing down the tariffs saying it won't join the NATO five per cent pledge to boost its defence spending to protect its welfare state. And I wonder, are you sticking to the 2.3 per cent defence spending by the end of the decade so you can continue to spend on programs like Medicare and the NDIS?
PRIME MINISTER: What we're doing is making sure that Australia has the capability that we need - that's what we're investing in. We'll continue to do that, invest in our capability and invest in our relationships. In addition to that, we're making major announcements like this one here. On July 1, next week, the increase in the Superannuation Guarantee, the increase in Paid Parental Leave, paying superannuation on Paid Parental Leave, the increase in the minimum wage is all about the agenda that we took to the election that received the overwhelming endorsement of the electorate, which is why we're now in the Labor electorate of Banks, after a considerable swing during the election campaign.
JOURNALIST: Just on that, there is a real risk here, the US President threatening to double those tariffs on Spain. Is that something that you think Australia could face?
PRIME MINISTER: I’m not going to comment on things between Spain and the United States. What my job is to look after Australia's national interests, that includes our defence and security interests, and that's precisely what we are doing. Hang on, one at a time. We learned this during the campaign. You did really well. There's new people now, if everyone yells, you won't get in advance. So here, and then we'll go around orderly.
JOURNALIST: Karoline Leavitt has said that America’s Asia-Pacific allies are now expected to lift spending following NATOs move. What do you think of that?
PRIME MINISTER: We have lifted our spending.
JOURNALIST: Prime Minister, are you worried we could face the same fate as Spain?
PRIME MINISTER: We are providing for our defence investment, including $57 billion of additional investment. I have said very clearly, we will invest in the capability that Australia needs.
JOURNALIST: Prime Minister, you talked about the announcements from July 1 and the budget that will be spent on social services, on superannuation, so forth. If defence spending, which if we lift here, obviously, that's the cost of other factors in the budget. Does this make Australia and US figures irreconcilable?
PRIME MINISTER: No, what we do is we put forward our Budget. We took it to an election. It received the overwhelming support, but we continue to, as I've said, invest in whatever capability Australia needs. We'll continue to do that.
JOURNALIST: If you can’t get a meeting with Donald Trump, how would you expect to avoid the same fate as Spain in having tariffs put on?
PRIME MINISTER: There's a big focus on Spain at this area of East Hills here today. Look, we will invest in whatever capability we need. And I met with, when it comes to economic issues, I met with the Treasury Secretary of the United States just a week ago, as well as with their trade representative. Thanks very much.