Angus Taylor praises Elon Musk, confirms spending cuts in National Press Club address

Shadow treasurer Angus Taylor has cited controversial American billionaire Elon Musk as a point of inspiration in a speech outlining the Coalition’s economic vision, but has sidestepped questions on whether 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 example of technological brilliance that had uplifted the lives of farmers across Australia.

“I love innovation that works, that changes the world, from the private sector, from entrepreneurs and from enterprise,” he said 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 he would pursue DOGE-esque cuts to government, a reference to the dramatic Musk-backed cuts in public services rolling across the US government, but nonetheless confirmed the Coalition would pursue spending cuts and downsize the APS by about 41,000 workers.

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

“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 stress an elected Peter Dutton government would reduce government spending to return the budget to surplus in the next decade, which he argued would lower inflation pressures and elevate the real incomes of working and middle-class Australians.

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

“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 save some $7bn from clipping the size of the public service.

It has also confirmed its opposition to the budget’s $17bn tax cut.

The Coalition has also opposed manufacturing subsidies, arguing lowering energy prices is the key to building a sustainable manufacturing base in the country.

In his speech, Mr Taylor announced an elected Coalition government would form a new statutory body within the Treasury Department called Investment Australia, which would boast a legislative mandate to cut red tape and trigger 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 said.

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