Angus Taylor praises Elon Musk, confirms spending | Australian Markets

Shadow treasurer Angus Taylor has cited controversial American billionaire Elon Musk as a level of inspiration in a speech outlining the Coalition’s financial imaginative and prescient, however has sidestepped questions on whether or not Trump-style DOGE cuts are coming to the public service.

Mr Taylor, addressing the National Press Club on Wednesday, singled out Mr Musk’s Starlink communications system as an instance of technological brilliance that had uplifted the lives of farmers throughout Australia.

“I love innovation that works, that changes the world, from the private sector, from entrepreneurs and from enterprise,” he stated during the question-and-answer session.

“There’s lots of farmers and others in my electorate who use that amazing technology (Starlink)

“I think (that is) the very best work that we’ve seen from Elon Musk and I think many Australians in regional Australia will absolutely back me up on that.”

Mr Taylor refused to say whether or not he would pursue DOGE-esque cuts to authorities, a reference to the dramatic Musk-backed cuts in public providers rolling throughout the US authorities, however nonetheless confirmed the Coalition would pursue spending cuts and downsize the APS by about 41,000 staff.

“On the 41,000, that’s the growth in the public service under Labor,” he stated.

“I want to see a strong and effective public service in this country.

I’ve lived around Canberra for much of my life and I think it’s incredibly important that we have a very strong and effective Canberra-based public service, but I’ve also learned through the course of my career, a business career … that you don’t need to have a bigger team to have a better team.”

The Hume MP used his speech to emphasize an elected Peter Dutton authorities would cut back authorities spending to return the funds to surplus within the subsequent decade, which he argued would decrease inflation pressures and elevate the true incomes of working and middle-class Australians.

“Beating inflation sustainably will be always the number one priority of a Dutton government,” he stated.

“This is particularly important while prices are still too high, with the Reserve Bank of Australia highlighting yesterday that inflation risks and uncertainties are still strong are still strong.

“The Coalition knows the long term solution to inflation lies in reining in wasteful spending.

“We have identified over $100bn in spending across this term that was not necessary.”

The Coalition expects to avoid wasting $7bn from clipping the scale of the public service.

It has additionally confirmed its opposition to the funds’s $17bn tax cut.

The Coalition has additionally opposed manufacturing subsidies, arguing reducing vitality costs is the important thing to building a sustainable manufacturing base within the nation.

In his speech, Mr Taylor introduced an elected Coalition authorities would type a new statutory physique within the Treasury Department referred to as Investment Australia, which might boast a legislative mandate to cut crimson tape and set off project investment.

“It will consolidate and streamline investment facilitation across government under a united function with clear leadership, that reports directly to the Treasurer and to Cabinet,” he stated.

“It’s about fast tracking investment, not holding it back with bureaucracy.”