00:02Fuel excise is a tax on every litre you buy.
00:06The government has cut it in half by 26 cents a litre.
00:09Now even a touch more with GST.
00:12We're already seeing drops.
00:14As people head out on the Easter holiday the Prime Minister ordered them to go ahead with.
00:19The experience after the invasion of Ukraine shows cuts to fuel excise do work to reduce
00:25the pain at the pump.
00:26This line shows what happened to retail prices in the biggest capital cities after its introduction
00:32four years ago, but at a cost of billions of dollars in tax revenue.
00:38US markets lifted, but that was before President Trump's speech.
00:42The futures market that tips what will happen tomorrow is closer to the reaction of the Asian
00:47markets which were trading after he spoke.
00:49Our dollar retreated in value, as did most commodities.
00:56Our market fell after the speech.
00:58It's got a few days to think about things.
01:00But the biggest item on the stock market today was a report into it.
01:04The corporate watchdog has been examining our monopoly provider, itself a listed company,
01:10and its faltering attempts to fix its systems.
01:13On that critical infrastructure, it found resilience had been compromised so it could deliver better
01:19returns for shareholders, governments arrangements didn't provide the necessary focus, and it
01:24lacked the aspiration to be a necessary steward of the systems we all rely on.
01:29If you think that was bad, they still haven't actually fixed the system.
01:33And that's finance.
01:35You
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