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Transcript | News24 First Edition | 01 October 2026

October 1, 2026

Thursday, 01 October 2026
Topics: FlyDubai incident, out of control government spending, Chris Minns calls out Albanese government over spending, Ben Carroll, card surcharges, housing supply
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PETER STEFANOVIC: Well, back to our top story of a thwarted plane hijacking overnight in the Middle East. The Fly Dubai jet appeared to be headed for disaster before it was saved by brave passengers. Joining us this morning, the Shadow Defence Minister, James Paterson. Morning James, your thoughts on this?

SENATOR JAMES PATERSON: It is really good to be with you and obviously we're still relying on partial media reports and statements by the Israeli government. There hasn't been a full investigation. But based on what we have learned it's a very serious incident that could have been even worse. In many ways, it's eerily reminiscent of the United 93 flight on 9/11. This was the fourth plane that was hijacked by Islamist terrorists after the two that struck the World Trade Centre and the one that struck the Pentagon. It was believed to be heading for the US Capitol or the White House, and brave passengers on board worked out what was happening, retook control of the plane, and it crashed instead in Shanksville, Pennsylvania, killing everyone on board but in an empty field instead of at the seat of American democracy or American executive power. So this could have been as serious as that based on the media reports, if not for actions of the crew and some of the passengers on board, and we should be very grateful that they did what they did.

STEFANOVIC: Sure, yeah. It was the 25th anniversary of 9/11 not so long ago. So, like you point out, we don't know exactly who yet, but with the UK plot this week, which Andy Burnham now believes was linked to Iran, are you alive to possible Iranian sleeper cells?

PATERSON: I don't want to directly link these things because, as you say, that's not yet confirmed. But what we do know is that the Islamic Republic of Iran, and particularly the Islamic Revolutionary Guard Corps, the militant arm, the henchmen of the regime, are responsible for at least two terrorist attacks on Australian soil, the firebombing of Lewis Continental Kitchen in Sydney, and the Addas Israel Synagogue in Melbourne. If they're capable of that, if they're willing to do that, then they are willing to do even worse if they get the opportunity. And we should remember that the terrorism era, the era of Islamic extremism, has not passed us, has not left us, it is still with us, and vigilance, ongoing vigilance is required.

STEFANOVIC: Yep, let's get to some local matters this morning, James. Hasn't been a good week for the Treasurer, who's still seeking to minimise government spending.

PATERSON: That's right, Pete. I mean, it's just extraordinary what Jim Chalmers thinks he can get away with and spin. But I think the Australian public have woken up to this gaslighting. He tries to take credit when interest rates and inflation appear to be coming down. Now that they're going up again, he's got to take responsibility for that. And so does the Prime Minister. And none less than the Premier of New South Wales, a Labor Premier, Chris Minns has called them out on that today, called them out on their spending, and has said that all governments have a role to play, the federal and state governments included, in taking the pressure off inflation. It's very clear when you're spending at 40 year emergency level highs outside the pandemic that that is going to have an upward impact on inflation.

STEFANOVIC: Is that a bit rich coming from state leaders though, because just about every state in the country now, including New South Wales, their spending is at, outside COVID, record highs.

PATERSON: Well, I think it will be very interesting to see what the Victorian Premier, Ben Carroll, says today. Firstly, is he willing to join Chris Minns in calling out Anthony Albanese and Jim Chalmers for their spending? And secondly, is he willing to admit his contribution from his government to this problem? I mean, there's been $40 billion of blowouts on the big build in Victoria. There's been $15 billion that we know of that have gone to organised crime and bikies through the CFMEU. Ben Carroll sat around that cabinet table. He was a Deputy Premier of the government that allowed that to happen. Is he going to admit his role in contributing to the interest rate increase that Victorians got smashed with yesterday?

STEFANOVIC: A couple of quick ones before we go to James, you just heard the story about the surcharges ban that comes into effect today. So basically you go to a cafe, those extra cents that are placed on the end of transactions, they'll be gone. Small businesses aren't happy about this, though, because they believe that was a good way to earn a little extra cash. Now they're going to have to pass that on and other measures. What are your thoughts on those changes today?

PATERSON: Well yesterday the Prime Minister promised that everybody's coffee was going to be cheaper today so I encourage everyone who goes out to buy a coffee this morning to check is it in fact cheaper and if so how much cheaper is it compared to what you paid for yesterday or the week before or the month before. Because don't forget this is the Prime Minister that also told you that your mortgages would be cheaper under him, your mortgage repayments would be lower, 16 interest rate rises later, there's not a single Australian who can say they've got a cheaper mortgage under Anthony Albanese. So be very wary politicians promising to bring down the cost of living when actually they've done the opposite.

STEFANOVIC: All right, finally, we've got these housing numbers that have surfaced today. The Master Builders claiming that the government will be 260,000 homes short of its ultimate targets. Is it time to look at relaxing regulations and fast track prefab homes? As Evan Lucas, the economist mentioned earlier, they can be built in seven days.

PATERSON: We should be absolutely open to new innovative ways to build homes, we should be slashing red tape and regulation from the thousands of pages in the National Construction Code down to a fraction of that, as Andrew Bragg, our housing spokesman, has promised the Coalition would do. This government is making it even harder to build homes, they're making it harder for investors to build homes and therefore housing supply is falling. There's no wonder that this has dropped off a cliff on Labor's watch, and it is first home buyers and renters who are going to pay the price.

STEFANOVIC: All right, James Paterson, we'll leave it there. Appreciate it though, as always. We'll chat soon.

PATERSON: Thanks, Pete.

ENDS

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