TIM MCMILLAN, HOST: Prime Minister, welcome back to the West.
ANTHONY ALBANESE, PRIME MINISTER: Good to be here.
MCMILLAN: Obviously, the Voice is the dominant topic in the Australian dialogue at the moment. It was one of the very first things you mention the night you claimed victory.
PRIME MINISTER: [ARCHIVAL] I begin by acknowledging the traditional owners of the land on which we meet. I pay my respects to their elders past, present and emerging. And on behalf of the Australian Labor Party, I commit to the Uluru Statement from the Heart in full
MCMILLAN: The day of the election, you have basically gone back into campaign mode now to get this over the line. Why is it so immensely important for you?
PRIME MINISTER: I think it's important for Australia, and particularly important for Aboriginal and Torres Strait Islander Australians. It's about two things: recognition and consultation. Recognition of Aboriginal Australians in our nation's birth certificate, that's the 'what'. And 'how' is through a Voice, by consulting Aboriginal Australians on matters that affect them. I think for people, they will say to themselves that it won't have an impact on their life, and for most Australians it won't. It just might make the life of some of the most disadvantaged people in Australia that much better.
MCMILLAN: If the Voice gets over the line, how is that going to positively impact someone who is struggling on streets of Laverton or Carnarvon or Leonora, the list could go on?
PRIME MINISTER: When you've had that buy-in and that engagement, you will get better outcomes. We know that from experience. Is solving intergenerational issues easy? No. Will things change instantly? No. But you've also got a think about he counterfactual. What will the consequences be if there is a no vote in Australia?
MCMILLAN: If it doesn't get over the line, how personally would you take that? Would you see that as a failure on your part?
PRIME MINISTER: It's not about me. It's not about politicians. It's about people. It's about the Australian people and it's about the decision that they make.
MCMILLAN: What do you say to those people who are desperate for more information and just want to know simply how it will work? Why aren't you giving them more detail? What are you hiding?
PRIME MINISTER: There's details. There's a 270 page document done by Tom Calma and Marcia Langton. That detail is out here there for all to see.
MCMILLAN: So there's plenty of detail out there for those who want to access it?
PRIME MINISTER: There's plenty of detail out there. And if people want to just Google the 'Uluru Statement from the Heart' they will see that.
MCMILLAN: Can we move on to a different topic. Is Phillip Lowe the right man to continue steering the RBA?
PRIME MINISTER: He has the confidence of the government.
MCMILLAN: So he has your full support?
PRIME MINISTER: Yes, it's important the government provide that support to the RBA. It's independent and it's important that they be able to operate and make decisions free of political interference.
MCMILLAN: Nine consecutive interest rate rises, people are hurting in the mortgage belt. What good news can you give them? What can you do as a government to help them?
PRIME MINISTER: We know people are doing it tough. But global inflation has occurred, firstly because of supply chain issues that arose, in part, during the COVID pandemic. But then the Russian invasion of Ukraine led to a global spike in energy prices that we were exposed too.
MCMILLAN: As they struggle, they're also seeing the banks are posting multibillion-dollar profits. We're seeing them pass on the interest rate hikes to mortgage holders within a matter of hours, but drag their feet when it comes to lifting deposit rates.
PRIME MINISTER: The banks need to get their act together. It's completely unacceptable.
MCMILLAN: Have you communicated that to them?
PRIME MINISTER: We've communicated that very loudly and I'm doing that again right now in this interview. The banks need to be responsible. You can't put up interest rates but not put up the savings accounts interest. The two go hand-in-hand.
MCMILLAN: If you are the Reserve Bank Governor, just for a term, hypothetically, where does inflation need to come down to where you're comfortable and you don't have to contemplate further interest rate hikes?
PRIME MINISTER: We know that it needs to be decreased and we know that they have a range of two to three per cent.
MCMILLAN: We're a long way off that.
PRIME MINISTER: It's about 7.8 per cent. So it does need to come down and we need to get on top of it. We know that that's the case. My responsibility isn't the Reserve Bank Governor's, that's very independent. I can't see myself ever applying for that job.
MCMILLAN: Certainly not at he moment, why would you?
PRIME MINISTER: I'm very honoured to have the role that I have at the moment and it's a great privilege. But with that privilege comes responsibility to do my best to look after people. That is what my government is focused on doing.
MCMILLAN: You've got a Defence Strategic Review with you at the moment, that's been completed by Steven Smith and Angus Houston. I know we're not going to see all the detail of that yet, but is there some good news for Western Australia in that? Given how big a role we played in getting you into the Lodge, Prime Minister, is there some reward for our support and loyalty?
PRIME MINISTER: When it comes to Defence, WA has a big role to play. When you think about Australia's defence, part of the Strategic Review is about assets, what we have, but also where we have them. What makes sense is to have more of our assets towards the North of Australia, rather than the South. In addition to that, places like Henderson play an absolutely critical role here in the West.
MCMILLAN: Will that role expand?
PRIME MINISTER: I won't go into specifics of the review. The government will need to respond to it. But Western Australia will have a major role in the defence of this nation, as it has for a long period of time.
MCMILLAN: We've heard that Darwin will play an increasingly important role in the defence of our Northern Coast. Are we likely to see other centres, perhaps in WA's North, that might take a bigger role?
PRIME MINISTER: There are already significant assets in Exmouth and in Western Australia towards the North as well. We will be making announcements at the appropriate time, but Western Australia will have a critical role to play.
MCMILLAN: Are the state leaders in the Eastern States still agitating towards you about the GST carve up and how unfair it is?
PRIME MINISTER: I'm sure every state leader will always want more but our position is very clear. It's the position I took to the election and a position that I maintain.
MCMILLAN: So the 2026 review, the 'no worse off guarantee', will that stay in place?
PRIME MINISTER: My position has not changed.
MCMILLAN: Can you restate what it is?
PRIME MINISTER: We have no intention of changing the current system which is there. There is a review and it will go through the states argy-bargy. But I will say this, for those who say that Western Australia is in a strong fiscal position, it is. There's no question about that. And the credit for that goes to Mark McGowan's government, but it also goes to the people of Western Australia as well. And I will I make this point: the Federal Budget would be in a lot worse position if it wasn't for Western Australia.