Transcript | News24 First Edition | 5 November 2026

ALEX THOMAS: Now the independent AUKUS public inquiry led by former Labor politician Peter Garrett has found it to be the worst, most costly and riskiest defence decision ever made by the Australian Government. The inquiry found the submarine pact should be sunk because it threatens national sovereignty and risks dragging Australia into a war with China. The report, titled 'Surrendering Australia: the AUKUS deception', warns that submarine delivery in the program is likely to be unachievable and could leave Australia's underwater defence capabilities ineffective. Probably a good time to be speaking to Shadow Defence Minister and Victorian senator James Paterson, who joins us live now. James, hello to you. Strong findings by that AUKUS inquiry. Does the pact need to be reassessed?

SENATOR PATERSON: Good morning. I think calling them findings is being very generous. Let's be honest, this is a group that had a predetermined view about AUKUS from the very beginning. They conducted a sham inquiry as a way of manufacturing a faux report, but you could have asked these people six months ago what their view was on AUKUS and they would have told you exactly what they've said in the report. And frankly I think at the National Press Club yesterday when releasing this report, they shredded their own credibility by saying that the People's Republic of China doesn't have ambitions to dominate our region and doesn't pose a national security challenge to Australia. There is no serious informed national security expert who thinks that that is true and by revealing their naivety on that issue I think we can dismiss the rest of the findings.

THOMAS: Our lead story today is clearly those astonishing historic results in the US for their midterm elections. And interestingly, James, the Republicans are blaming the war in the Middle East for the rising prices at the pump and cost of living that have turned off voters there. Here, after that interest rate rise earlier this week, we heard the RBA Governor Michelle Bullock put more of a blame on Australia's inflationary pressures on federal spending. Clearly the government has more of an influence on one compared to the other, right?

PATERSON: I think the RBA has been very clear for some time now that not only is our inflation problem domestically sourced but that government spending is contributing to that and we now know that even Jim Chalmers, the Treasurer, secretly agrees. Because he has clearly leaked to The Age and the Sydney Morning Herald over the weekend a report that at the Expenditure Review Committee in the lead-up to the Budget he proposed spending cuts that Anthony Albanese overruled him over. So, we know that Jim Chalmers apparently wanted to cut spending, that he accepts that Labor's reckless spending, of 40-year high outside the pandemic as proportion of economy, is contributing to higher inflation rates. So, I think the real test comes in the mid-year economic and fiscal update, which is released before Christmas, usually early December. That's the test for Jim Chalmers and Anthony Albanese. Will they actually recognise their spending is out of control? Will they rein it in and take the pressure off the RBA, or will there be further rate hikes caused by Labor?

THOMAS: The Australian's reporting this morning that the government has changed the way visa cancellation cases are assessed, potentially making it harder for foreign criminals to remain in this country. What do you make of that change?

PATERSON: This is a stunning admission of failure by federal Labor. Because they have finally, on their third try, taken the tough border protection policies and community safety policies of the previous Liberal National Government and put them back in place. You might remember when they first came to government, under Andrew Giles as immigration minister, they introduced Direction 99, which made it much harder to deport a convicted, violent and sexual offender who was on a visa. They allowed them to stay by elevating this consideration of their ties to the community and it's led to dozens and dozens of some of the worst offenders who are on visas being allowed to stay in Australia. Angus Taylor's been saying since the day he became leader that, on immigration, the numbers have been too high, and the standards have been too low. And this is yet more evidence under Labor that standards have been too low. They've been embarrassed into this massive backflip, but the truth is they don't have their heart in protecting Australia, in protecting the community, only the Liberals and Nationals have a plan do that.

THOMAS: In your state of Victoria, we've seen a One Nation volunteer attacked ahead of the state election. Police say they're not treating it as politically motivated. But following the Helen Haines incident too, do we need to reinforce a message of respect and safety?

PATERSON: It's always a good time to reinforce that message because one of the great things about Australia, in our democracy, is that it has been relatively free of violence that we have seen in other countries. It is a relief that police have said that this incident against the One Nation volunteer was not politically motivated although it was obviously a horrific alleged crime, and I hope the perpetrators face the full force of the law. I think it actually points to a bigger problem in Victoria which is that crime has become completely out of control under Labor's watch. And particularly under Ben Carroll, over the last 12 years, crime in every category is through the roof and we need a plan to fix it, and Jess Wilson and the Liberals and Nationals have that.

THOMAS: Many thanks indeed, James Paterson. I really appreciate your time on the show.

ENDS

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