Latest news with #TedO'Brien
Perth Now
23-06-2025
- Politics
- Perth Now
‘Dangerous': Aus response to strikes slammed
Deputy Opposition Leader Ted O'Brien has slammed Anthony Albanese's response to US strikes on Iranian nuclear facilities, claiming it sends a 'dangerous message to the world'. Iran overnight fired missiles at the Al Udeid Airbase in Qatar in response to US strikes on its nuclear facilities at the weekend. The Trump administration has suggested it was informed of the attack beforehand and Qatar was able to shoot down the Iranian missiles without any casualties. Donald Trump announced on Tuesday morning - hours after the strike - that Israel and Iran had agreed to 'a complete and total ceasefire'. The Prime Minister has been widely criticised by the Coalition and other political figures for his response to the US strikes, not fronting media until after a National Security Committee meeting on Monday. Mr Albanese did officially back Mr Trump's actions, though refused to directly answer whether Australia was briefed prior to the decision to strike being made. Mr Albanese and Foreign Minister Penny Wong held a highly anticipated press conference on the US strikes on Monday. NewsWire / Martin Ollman Credit: News Corp Australia Mr O'Brien claimed Mr Albanese showed a 'lack of leadership' on the day of the strikes. 'The Prime Minister was silent – he put out no statement, he did not speak to the Australian people, he did not call a meeting of the National Security Committee,' he said on Today. 'He did not come out and decisively back the United States, our key ally. Unfortunately, that only weakens our relationship with the United States. 'And it sends a very dangerous message to the world that Australia, under this government, is passive. It's a failure of a leadership test.' Deputy Opposition Leader Ted O'Brien claims Mr Albanese's response was 'a failure of a leadership test'. NewsWire / Nikki Short Credit: News Corp Australia Appearing alongside Mr O'Brien, Employment Minister Amanda Rishworth hit back at claims Mr Albanese was 'defensive, dismissive, and really on edge' in Monday's press conference. 'What we saw was the Prime Minister come out and clearly explain Australia's position – clearly explain that we don't have a central role in this conflict and clearly explain what we're doing for Australians,' Ms Rishworth said. 'We are a methodical government … you might be used to the chaos of previous Coalition governments coming up with different positions, but we're a methodical government.' Amanda Rishworth did not give a direct answer on whether Australia would support further strikes on Iran. Jason Edwards / NewsWire Credit: NewsWire Ms Rishworth did not answer directly when pressed by host Karl Stefanovic on whether the government would support further US strikes. 'I think these strikes were very targeted by the reports from the US,' she said. 'They have been effective in disrupting the nuclear facilities, and that was what their focus was, of course. 'The world for a long time has recognised that it is inconceivable that Iran gets access to nuclear weapons, and we – you know, for the peace and stability, stability of the world – that's been important.' 'The US has been pretty clear that it thinks it was a successful targeting of those facilities, but we want to see some return to diplomacy to actually de-escalate this, because a wider conflict in the Middle East is an incredibly difficult circumstance that no one wants to see.' Foreign Minister Penny Wong and other senior Labor ministers have condemned Iran's retaliatory strike on Tuesday morning. More to come
AU Financial Review
15-06-2025
- Business
- AU Financial Review
O'Brien plans tax review, stands by nuclear power
Shadow treasurer Ted O'Brien has committed to developing a tax policy that leaves more money in the pockets of Australians after admitting Liberal values were breached by opposing Labor's income tax cuts at the devastating election loss. A defiant O'Brien, who is now deputy leader, also stood by his previous support for nuclear energy.
Sky News AU
08-06-2025
- Business
- Sky News AU
Australian public were not ‘buying' what the Coalition was ‘offering'
Shadow Treasurer Ted O'Brien says the Coalition will learn 'a hell of a lot of lessons' from their failed federal election campaign. The national accounts this week revealed quarterly economic growth of just 0.2 per cent, with GDP per capita and productivity continuing to go backwards. 'When you look at what a dreadful job the Albanese government has been doing, we should have landed harder blows,' Mr O'Brien said. 'What we were offering, the Australian people, they weren't buying – we have got to be candid and upfront about that.'
Sky News AU
07-06-2025
- Business
- Sky News AU
Labor left with ‘no choice' but to force super tax after weak GDP figures in March, shadow treasurer Ted O'Brien declares
Labor has been left with 'no choice' but to go after citizens' earnings with its proposed super tax as slow growth plagues the nation and hurts tax revenue, shadow treasurer Ted O'Brien has declared. Join to watch the full interview with Ted O'Brien on Business Weekend at 11am (AEST). The Albanese government's proposal to double the tax rate on funds in super balances above $3m and target unrealised gains could soon be legislated as the Greens' approval is all the bill needs to go through the Senate. It comes as recent GDP figures showed Australia was headed back towards per capita recession territory with growth slumping to just 0.2 per cent in the March quarter. The super tax proposal has faced fierce backlash from the Opposition, economists and leaders in the business community. Mr O'Brien is among those and tore into the Albanese government's fiscal management on Sky News' Business Weekend. 'The only reason they're doing it is they've lost all discipline on fiscal responsibility,' the shadow treasurer said. 'Debt (and) deficits (are) going out of control and they've got no ambition for the Australian economy.' He criticised Treasurer Jim Chalmers who lauded the 0.2 per cent growth, arguing the uncertainty from Donald Trump's trade war meant any growth was a decent outcome. 'We heard it last week from the Treasurer after the national accounts came out. What, 0.2 per cent growth in the quarter? Seriously? Lower than last time!' Mr O'Brien said. 'At a yearly basis it's running at less than half of the long-run average of growth and the Treasurer is happy about that. '(There is) no ambition for growth of the Australian economy and when you have no ambition and you overspend, you have no choice but to go after the earnings, the money of your own citizens. 'That's what this super tax does.' Labor's plan to tax unrealised capital gains has drawn backlash from Aussies concerned about small businesses, farmers and startups as many put assets in their self-managed super funds or use it as a low tax investment vehicle. Wilson Asset Management founder Geoff Wilson said by forcing Aussies to pay taxes on paper gains it will hinder investment in Australia. 'Both Anthony Albanese and Jim Chalmers - and probably most of the government - are gaslighting the Australian people by saying: 'Look, this will only impact a very small percentage of people that pay the additional tax',' Mr Wilson told Sky News. 'That's correct, but what it'll do is actually impact about how $4.2 trillion in superannuation is invested. 'We anticipate that the money will come out of self-managed super funds (SMSF), which is about $1.1 trillion, and billions of that will go into the housing market and push house prices up . ' He cautioned Aussies who use their SMSF as a low tax investment vehicle will be discouraged from funding projects and businesses in the Australian market. 'People won't want to take risk on their superannuation in the self-managed super funds,' Mr Wilson said. 'The angel investors and the startups and the small companies in Australia that find it hard to raise capital, particularly at this point in time - that tap's going to be turned off.'
Sky News AU
05-06-2025
- Business
- Sky News AU
'Grossly unfair': Coalition digs in against super tax as Albanese government and Greens to pass legislation
Shadow treasurer Ted O'Brien has confirmed the Coalition will oppose Labor's tax on superannuation balances above $3 million 'every step of the way'. Mr O'Brien officially confirmed the opposition's position on the 'grossly unfair' policy following potential negotiations on key aspects of the legislation. He told Sky News on Thursday that the Coalition had completed its internal processes and was now united in its decision to reject the legislation outright. 'We will definitely, as a Coalition, oppose this unfair super tax of Labor's every step of the way,' Mr O'Brien said. 'This is grossly unfair and it flies in the face of everything we believe in as a Coalition.' The Albanese government plans to double the tax rate on superannuation earnings for balances above $3 million, from 15 to 30 per cent. The proposal controversially includes unrealised capital gains and will not been indexed – two aspects the opposition previously said it may be willing to negotiate. Mr O'Brien has argued the government's decision to tax unrealised gains was unprecedented and dangerous. 'To think that a person can make a theoretical profit—no money has hit the bank account—and they get taxed every single year, that's not fair,' he said. 'Labor's super tax, it's super big, it's super bad. It flies in the face of what we believe as a Coalition. 'We believe in lower, simpler, fairer taxes. And Labor's tax on superannuation is none of those things.' He also warned that the refusal to index the threshold would expand the tax's reach over time, affecting millions of middle-income workers, such as teachers and nurses. AMP Deputy Chief Economist Diana Mousina conducted modelling that showed the average 22-year-old will be hit by the tax by the time they retire. CPA Australia's Superannuation Lead, Richard Webb, called on policymakers to ensure the policy will be indexed to inflation. 'Bracket creep is already having a silent eroding effect on personal finances,' Mr Webb said in a statement. 'Allowing this further erosion of superannuation savings is contrary to the fundamental principles of our tax system.' There has also been criticism about the fact politicians under the defined benefit pension scheme will not have to pay the tax until after they retire. Sky News also revealed recently that state officials on the old pension schemes are not expected to be taxed at all due to constitutional protections. Labor has argued the tax is a necessary reform to ensure the superannuation system is used for its intended purpose—funding retirements. Treasurer Jim Chalmers has said the measure is modest, fiscally responsible, and affects only a small proportion of high-balance accounts. The policy appears set to pass the senate with support from the Greens, who have pledged in-principle backing and are negotiating final details. Greens treasury spokesman Nick McKim has called for the threshold to be lowered to $2 million and indexed.
