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The corflute war continues:

Katharine Murphy and Josh Butler covered off Anthony Albanese’s Q+A appearance for those who missed it:

Anthony Albanese has bemoaned the fact the 2022 campaign is more focused on “soundbites rather than philosophies and values” – a trend he says is alienating voters and boosting support for political disrupters.

The Labor leader appeared solo on the ABC’s Q+A program on Thursday night to field questions from the audience, while Scott Morrison fronted another program on Sky News at the same time.

On the hustings earlier on Thursday, the Labor leader was initially unable to list the six points of his party’s plan to improve the national disability insurance scheme, and was later handed briefing notes by an adviser.

It did seemingly cheer up Andrew Bragg though:

Well, I’m always an optimist, and I think what the campaign has revealed that the prime minister is a much more substantial person than Mr Albanese. He knows the information, he knows the policies, he knows the key stats.

I agree that the Australian people are over gotcha moments, but if you want to be prime minister, you into he had to know the basic stats are, you need to know what the unemployment rate is because that is the key indicator because we want to see more Australians in jobs and that has happened under us, so I’m optimistic.

Anika Wells, Labor’s MP for Lilley, was asked on the ABC about Anthony Albanese’s stumble over Labor’s NDIS policy yesterday and said:

I’m glad that we are talking about the NDIS. I think it is good to have more attention on the NDIS and our policy to try to fix it because constituents talk about this all the time, on the doors, call our office every day and they are desperate for someone to do something. They’ve had their funding cut. Families in Australia have to fight their own government in the AAT to get the packages that they deserve of. They just want someone to fix it.

They know that Albo has a plan to do that, that spokesperson to do that and more discussion about whether Scott Morrison or Albo has a plan for the NDIS, that is a good thing.

How does Andrew Bragg think Dave Sharma and Trent Zimmerman are feeling, given their seats are under threat:

As I say, I don’t agree with the analysis. I think the Liberal party has been a strong party of government because we have been able to represent a whole lot of different people across our country and we are doing that right now through things like strong climate policies, but also a social liberal agenda which protects minority groups such as the LGBTI community which I addressed last night at the Equality Forum.

Q: But it is far from helpful from your perspective as a Liberal party member?

Bragg:

Well, people are entitled to their opinions. I don’t always agree with everything you say and I don’t always agree with what my colleagues say. We are entitled to have our own views and cross the floor and make our own statements known where it is appropriate.

Q: Barnaby Joyce has accused Malcolm Turnbull of throwing a temper tantrum. What do you reckon?

Bragg:

I mean, I’m not a commentator on these things. People are entitled to their own views. I think I have been very clear we have a strong voice for people in the cities and people should absolutely vote for Dave Sharma and Trent because they’ve done a great job in standing up for their communities.

Liberal senator Andrew Bragg – one of those moderates Malcolm Turnbull was talking about – says he disagrees with Turnbull’s opinions.

He has told the ABC:

I don’t agree with Mr Turnbull’s analysis. We have done important work for people who live in the inner cities on things like achieving the net zero 2050 commitment, and also developed economic policies which favour the inner city on things like fintech and cryptocurrency and we have made important commitments, as I spoke about last night to the equality forum, on HIV, listing Prep on the PBS.

The idea we are a party only for the bush or for the bushes is not true, or for the burbs is not true. We govern for all Australians.

Economic issues might nudge their way back into the campaign today, with markets swooning overnight and needing a decent dose of smelling salts.

The tech-heavy Nasdaq index is a bit lighter this morning, losing almost 5% on Wall Street, while the Dow Jones Index dropped more than 1,000 points, reversing the earlier day’s 932-point gain.

The broader S&P 500 index’s 3.6% dive lopped an eye-watering $1.8tn (in Australian dollars) off that market’s value.

Australian shares are headed lower, of course, as is the Australian dollar, which dipped below 71 US cents before edging back a bit.

“Investors remain concerned about the ability of central banks to control inflation,” the CBA said in a briefing note, perhaps understating things a tad.

One trigger seems to be the Bank of England lifting its bank rate by 25 basis points for a fourth consecutive increase. It also warned of inflation reaching 10% by the year’s end and for the economy to start contracting. “Stagflation”, in other words, is real risk.

Central banks have been playing catch-up after betting inflation would be “transient” when it was related to Covid restrictions. They didn’t pick, perhaps not surprisingly, that Russia would invade Ukraine but they were also a bit too optimistic about Covid supply restrictions easing. China’s latest lockdowns point to lingering troubles on that front too.

The Reserve Bank of Australia, meanwhile, will release its quarterly statement on monetary policy at 11.30 AEST today. Given that governor Philip Lowe went to some lengths to add context to why the central bank raised its cash rate target by 25bp on Tuesday – more than any of the 32 economists surveyed by newswires – that territory has probably been covered.

Still, there may be additional information about what other central banks are up to, including the US Fed’s 50bps increase to its official rate since the RBA move.

Market turmoil in Australia might revive debate over the main parties’ economic plans.

The election itself might be adding sagging sentiment. Interestingly, planned property auctions this week are a little over 2,000, according to CoreLogic, or 23% lower than a week ago. This time a year ago, there were more than 3,000 auctions.

When asked on ABC radio this morning if this was about revenge, Malcolm Turnbull said: “Of course not.”

Reminded of Peter Dutton’s previous comments that he was intent on retribution, Turnbull says:

Unfortunately, Peter Dutton always wants to play the man and not the ball. I mean, he is a headkicker. That is what he does.

Malcolm Turnbull is wrapping up his speech to the Washington Harvard Club. Coming from someone who was leading the Liberal party and the country not so long ago, this will have an impact:

Political instability invariably comes from internal ructions within the major, governing parties, not from independents on the cross benches.

Imagine what it would mean here if traditional Republican voters were able to vote for an independent Republican who better represented their values than Mr Trump’s pick and who could go on to win a district on Democrat preferences.

By direct democratic action, voters could ensure they have, in this case, the centre right representatives that best share the values and political agendas of the majority of the electorate.

In other words, even if the members of a political party cannot escape from the thrall of the dominant faction, their traditional supporters in the electorate can do so by voting for an independent who has a real chance of success.

The car lobby AAA has taken a look at transport costs:

The AAA data shows the average weekly household transport cost in capital city households is now $401.05 and $330.67 in regional households.

AAA Managing Director Michael Bradley said: “Rising fuel prices continue to be a significant contributor to cost of living pressures across both regional and metropolitan Australia.

“Fuel costs have risen an average of $26.49 to $93.87 per week over the past twelve months in capital cities with Hobart ($100.18 pw), Sydney ($94.80 pw), Darwin ($94.36 pw) and Brisbane ($93.93 pw) the most expensive cities.

“Regionally costs are more expensive rising on average $27.89 to $96.65 per week with Bunbury ($116.31 pw), Geelong ($110.69 pw – Melbourne was $92.07) and Launceston ($109.37) the highest.”

Car loan repayments is the main cost component that has declined across the country due to a greater proportion of new car buyers choosing cheaper vehicles.

Sydney is still Australia’s most expensive capital city for transport costs averaging $474.43 per week, followed by Melbourne ($447.83) and Brisbane ($445.69). The introduction of a zone cap for public transport in Perth has also had an impact with the Western Australian capital dropping a spot on the rankings list to fifth, with Canberra now more expensive.

Bunbury is Australia’s most expensive regional city at $352.06 followed by Alice Springs ($350.45) and Geelong ($347.69).

Nationally transport costs are 14.7% of household income. The Tasmanian cities of Launceston (18.1%) and Hobart (17.9%), followed by Brisbane (17.1%) had the highest transport costs as a proportion of household income.

Australia has a new (confirmed) ambassador from the US on the way.

Asked about Peter Dutton’s repeated comments that China would want Labor to win the election and whether that is politicising national security, James Paterson says:

Over the last few months, whenever the government criticises Labour’s record on national security and defence we were accused of politicising the issue and told we should maintain bipartisanship.

But whenever the Labor party attacks the government on our record, the media doesn’t play that same policing role, saying they’re not allowed to politicise it.

Pushed on whether it is appropriate for the government to politicise these issues, Paterson says:

We’re in an election campaign and it’s absolutely appropriate to robustly examine each other’s records and policies on every area of life.

Isn’t that just what Labor is doing though?

Paterson:

I’ve never been one of those people who said that national security and defence shouldn’t be subject to robust political debate. However, I’m also suggesting that if you’re going to engage in that robust political debate, it should be a basis from the basis of being informed not wildly speculating, and I think that’s what some opposition have done.

James Paterson is now speaking to ABC radio RN about how the government has handled Solomon Islands.

He says Anthony Albanese is “politicising” the situation, and implies the Labor leader has been dragging his feet in getting a security briefing:

I’m only pointing to comments that Mr Albanese made publicly on Tuesday, where he said he had not yet been briefed, but that he intended to take up that briefing when he could. And I’m suggesting, but until he’s had the benefit of that briefing, it might be wise for him to stop commenting publicly on something he’s clearly ill informed about.

We have made it to the fourth Friday of this campaign – not that it means anything in a campaign that is just ramping up.

Malcolm Turnbull has re-entered the chat with a speech he plans on giving to the Washington Harvard Club at 8am AEST. The former Liberal leader says disillusioned major party voters can vote for the “teal” independents and that a hung parliament isn’t something to fear:

In many respects this may be the most interesting part of the whole election, because if more of these “teal” independents win, it will mean the capture of the Liberal party will be thwarted by direct, democratic action from voters. People power, you might say.

Of course the big parties’ arguments against independents is always the same – instability, chaos and so on.

But in truth, many parliaments, including in Australia, have operated with stability and good effect with major parties requiring the support of independents or minor parties to pass legislation and, in fact, in our Senate that has almost always been the case.

The former PM said it was one way to address what he said was a loss of moderate influence within the party he once led:

My own party called Liberal has in the past been a combination of both the liberal and conservative traditions, but since my deposition in 2018 it is fair to say that the liberal, or moderate, voices have been marginalised and their influence is much diminished and diminishing – especially on the toxically controversial issue of climate change where the political right, supported by Murdoch’s media, have opposed effective action for many years.

Speaking to ABC radio RN, Turnbull said the federal Liberal party’s “broad church … was narrowing”.

They’ve taken a few of the pews out …

The tide has really gone out for the small L liberals and the moderates and so the consequence is that people who were more comfortable with that side of the Liberal party, if you like, voting with their feet and supporting teal independents. Now you know that that’s their democratic right and and whether you want to vote for them or not, I’m not encouraging people to vote for any[one], I’m encouraging people to vote.

Turnbull also said while the major parties are always warning against hung parliaments – and he may have said something similar in the past – they weren’t the recipe for “chaos and confusion” many claimed.

His latest intervention has come with just over two weeks to go in the campaign.

Both leaders are still smarting after a less-than-ideal performance in their latest press conferences – Anthony Albanese went someway to defending his on his Q+A solo appearance last night.

We’ll follow all the day’s events – just make sure you have your snacks of choice. Things are going to get stress-eaty.

Ready?