JAYNIE SEAL, HOST: Joining us live is Assistant Minister for Trade and Future Made in Australia, Tim Ayres. Tim, thank you so much for joining us. What do you think is going to happen with this data that's coming out today?
SENATOR TIM AYRES: Well, g’day, Jaynie. I'm beaming in from Brisbane today at the manufacturing summit. It's a big opportunity for me to talk about the Future Made in Australia act opportunities for business and for investment in good jobs in regional Australia. In terms of the inflation data that'll be released today, I think we'll all know the result in a few hours. The government's focus here, while the work that I'm doing, of course, is engaged with the long-term shape of the Australian economy, re-industrialising the economy and making sure that we've got an economy that's fit for the future. The focus of the government is on the here and now - that is dealing with putting downward pressure on inflation. We're doing that through fiscal policy. The first two back-to-back budget surpluses in nearly twenty years. We're doing that by supporting Australian families right when they need it; $300 off energy bills right now, tax cuts for every Australian taxpayer, and all of the other measures that have been in this budget and the last budget, to take pressure off families. We know people are doing it tough. We've got to a position where quarterly inflation is halved from when we took office, but there is more work to do.
SEAL: There is certainly a lot more work to do. With that $300 rebate. Have we had any of that come through yet? There's talk of the quarterly instalments. What can you tell us with that?
SENATOR AYRES: Yes, it'll be spread out over the year. That's the advice that we've got from the agencies. That's the best way to deliver that. Recall, of course, Jaynie, that it was this government that put caps on energy prices. That had a very significant material effect on holding back rises in energy costs. So, while energy costs went up by an amount, they went up by about 16% less than they otherwise would have. Those measures, of course, like everything else the government does, opposed by Peter Dutton and David Littleproud, the Liberals and Nationals who only say no, irrespective of whether it's in the national interest or whether it's designed to take cost-of-living pressure off households. We're working in a steady way on these questions. It has had a very significant impact. But as the Treasurer said, the last mile sometimes takes longer than we would like and we are working through that in a very steady and effective way, but absolutely respect that there is still pressure on households, still pressure on businesses. We want to see inflation come right off.
SEAL: All right. What did you make of the cabinet reshuffle? You’re the Assistant Trade and Future Made in Australia Minister. So, talk us through what you thought of the reshuffle and also about the review that was released this week.
SENATOR AYRES: Well, broadly, what the reshuffle does is mean that the retirements of Linda Burney and Brendan O'Connor give an opportunity for there to be a modest reshuffle. It's putting good people in the right places. I'm very pleased to have been given some additional responsibility working with the Prime Minister on the Future Made in Australia act. It is the biggest pro-manufacturing package in Australian history. It's designed to re-industrialise our economy and make sure that Australia is positioned well for the future. We have enormous natural assets below the ground in terms of our vast mineral resources. All the minerals that are required, as 97% of our trading partners go to their own net zero objectives. That means more batteries, more technology, more minerals processing, for Australia's trading partners. That means good jobs and investment in regional areas. This is an enormous opportunity for Australia. But the train only leaves the station once. That's why we are working so hard to capture this opportunity for Australia. As I said, all of the mineral resources under the ground, all of the solar and wind - the best solar and wind resources in the world, and of course, our resilient regional and industrial communities for whom this next industrial revolution offers the greatest benefits in terms of jobs and investment.
SEAL: Thank you very much for joining us today.
SENATOR AYRES: Thanks Jaynie, always good to see you.
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