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Australian Agenda -

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(generated from captions) Holarenso. Showers and storms

in the north and southeast,

warm in the west. It's 12

minutes past 4, eastern

daylight time. This is News

Day on Sky News, PM Agenda

movements ago, here's David

Speers After the break, if the

Government introducing a carbon

tax and tax cuts to compensate

low and middle l income earners

what would the coalition do,

would it repeal the carbon tax

and the tax cuts as well. We

will be talking to shadow

break. treasurer Joe Hockey after the

shadow treasurer Joe Hockey as well. We will be talking to the carbon tax and the tax cuts coalition do, would it repeal income earners what would the

after the break.

This is PM agenda. Welcome to

the show, we're going to be

looking at the situation in

Libya later in the program, the

Gaddafi regime has declared

another cease fire. Is this a

serious offer or just another

trick. We will be talking to

an historian who specialises on

Libya. First to the domestic

political front back home.

Parliament resumed today and so

did the battle after the

Government's proposed carbon

tax. Tony Abbott was straight

out of the box as question time

began targeting the Government

over the cost of living

implications on any price in

carbon The rate of 26 dollars a

tonne, this would add at least

6,240 to the cost of an average

home. I ask the Prime Minister

how does she propose to

compensate first home

buyers We're seeing today's scare campaign on display.

That is all it is, Mr Speaker,

a scare campaign from the

leader of the opposition. It

might be another scare campaign

but the reality is many of the

details voun thg carbon tax are

unknown. We don't know what

the carbon price will be, we

don't know what the impact will

be on households or how the xen

station the Government is

talking about will flow. The Government's chief climate

change advisor Ross garn owe

has says that tax cuts be the

form of compensation. He

suggested the Henry Tax

Review's model outlined last

year should be put forward to

flatten the tax scales and give

low and middle income earners

some compensation. The

Government has signalled it

likes the idea of tax cuts. We

don't know the detail. We did

get one extra piece of the puzzle today, the Prime

Minister confirming just how

many companies this carbon tax

will apply to. We will ask the

1,000 big polluters in our me

to pay for the carbon pollution

they create. At this time

pollution can be put into the atmosphere for nothing. We

will put a price on it 1,000

companies to pay the carbon

tax, that is in line with Kevin

Rudd's carbon pollution

reduction scheme. The coalition has of course vowed

to repeal any carbon tax if it

wins the next election, until

now has refused to say whether

it would also repeal any

compensation that goes with it.

Now, the shadow treasurer Joe

Hockey has declared that the

coalition will repeal not just the carbon tax but the

compensation as well. I spoke

to him earlier this afternoon.

Joe Hockey, thanks for your

time, can I start by asking you

in principal are you opposed to

putting a place on carbon as a

way to fighting climate

emphatic view of joining with change The coalition has an

the government to reduce carbon

omissions by Twenty20, 5 per

cent, also we agree with the

Government when it comes to

renewable energy. Where we

differ with the government is

the mechanism to achieve it.

oppose a tax. We are strongly The Government says it wants to

opposed to that Your personal position is you don't believe a

price on carbon is the way to

go You can't put a price on

carbon that is meaningful until

you get to a position where the

rest of the world agrees So if

that happens Carbon is a global

commodity believe it or not If

we see international momentum

towards a price on carbon you'd

be willing to look at it Lel me

tell you I believed Kevin Rudd

when he said an agreement was

going to be delivered in copen

hey began. He was wrong You

mean a global deal with all the

big omiters signed up Sob mean

lful, carbon dioxide is a

global issue. It is meaningless unless you have

some global action Let's look

at the sort of compensation

that the Government is

considering, Ross garn owe's

recommended the Henry law

reform be adopted, that

involved lifting the tax free

threshold to 25,000, then

having two flat rates, 35 per

cent up to 180,000, 45 per cent

above that. Do you like that

sort of tax reform That is a

very separate proposal to what

the Government is now talking

about In a nutshell do you like

that idea We like to see people

have their income tax retusd

we're a party of low taxes You're attract today that

model I'm attracted to a

discussion about lower personal

income taxes. Let me say this.

The Government is make tg up as

they're going along. Ken

Henry's proposals, which Ross

garn owe put forward were not accepted to the Government,

because it meant that , including higher income people

are going to have substantial

reductions in income tax, so

the Government when it realised

that, after having chruchd that

straw, let's go for the low

income tax offset. What

they're knowing realises that

is a rebate, people will in

fact being significantly worse

off curing the course of the

year before they get their

hands on the rebate. This is a

government what has no plan,

we're talking about rumours,

that a Prime Minister without

any mandate is trying to keep

on the table Still work rg on

the details here Not even the

details. We're all speculating

about rumours without a plan,

and the Government hasn't even

-- it is so absurd the

situation at the moment. You

had Bob Brown announcing a

carbon tax with Julia Gillard

then you had Ross garn owe

announcing tax cuts. Whose

running the shop? Would you

rather the Government had

announced holus-bolus what

going it was going to do It is

confidence, business undermining consumer

confidence, people are

additional speculation about confused, it is leading to

what the Government's true

intentions are when in fact

they haven't got the courage to

say themselves You've said the

coalition will repeal any

carbon tax if you're you can

successful in the next

election, including tax cuts

repealing those It is ridiculous when you're imposing

a tax and you have to

compensate it, that's not a tax

cut or tax reform. What we're

saying is yes we want to

introduce a painful knew tax

and we're going to compensate

some people for it. I suspect

they won't be able to deliver the compensation they're

claiming, I do not believe the

Government when it says it's

going to properly compensate people because the Government

has now said it's not putting

the carbon tax or the

compensation in the budget I'll

get to that in a moment,

clearly there will be

compensation, which ever form

it takes, will you repeal that compensation You don't need to have compensation if you have

no tax But they will have a

tax, they will have compensate,

so if you're going to repeal

one you'll repeal the compensation including tax

cuts Of course, because they're

not tax cuts, there's no tax

cuts on the table If they go

for tax cuts They can't, they

can't go for tax cuts to

compensate, because if they

deliver tax cuts, which means a

skwrufting thresholds, or

adjusting rates, it means that

Across the board will have a

reduction in income tax. Now,

this mob are incapable - - - If

they do that you'll repeal

it I'm not going to speculate

whether they're going to do

it You've already said you'll

repeal the carbon tax without

seeing the details of that.

Who will it apply to, what the

carbon price will be you've

said on the speculation you'll

repeal that We will repeal the

carbon tax, there will be no

need for compensation, we will

unwind the compensation,

because you don't need to have

compensation if you have no

carbon tax They both go if you

get elected Of course The tax

forum it's been put back to

October, it won't look at the

mining tax or the carbon tax.

The independents seem to be

happy enough with the time, what's your concern here?

There are 222 billion dollars

a year of taxes that the

Government is going to seek to

pass through the parliament

before the summit is held.

That's absurd, they've broken

-- they made a solemn promise, the independents said to us it

was a deal breaker to have this

tax summit before 30 June,

they've changed their tune.

They're entitled to that,

somewhat predictably they've

changed their tune, from our

perspective, you know, we had Rob Oakeshott in the

parliament, as recently as the

debate on the flood levy saying

he didn't want any ad hoc taxes

considered without the full

review. Why did they agree to

dealing with the carbon tax and

the mining tax before there is

a proper summit held, a summit

I might add that no other poll

likss apart from Wayne Swan is attending If these independents

are good to their word they'd be walking away from the Government on this That's what

they said to us, it was a major

issue for them Isn't the point that governments and

parliaments are elected to sort

out taxes not forums of

business community and union

figures? Well, it is a fact

that the Government had the

Henry Tax Review, and coming

back to the carbon tax it's

quite interesting here, because the Government is now walking

away from the Henry tax income

tax cuts recommendations and

instead talking about the low

income tax offset. Ironically

the Henry Tax Review recommends

abolishing the low income tax

offset. Hang on, I don't

understand this confuse add

agenda from the

Government Isn't it up to

parliaments to decide on taxes

not fax forums You need to have wide consultations. The

Government fails in that

regard A lot of business

figures are saying the GST,

it's time for a look at the

GST, the rate, what it applies

to, what do you think about

this I think Australians are

facing enormous pressures on

their household income, I think they're facing enormous pressures in cost of living,

now is not the time to look at

the GST, all that days does is

increase the costs of every day

goods Is it working as well as

it could, making our tax system

as competitive as it could

be You can always do that, you've got to have a government

in principle that wants to

collect less tax not more. It

is absolutely absurd that this

government is not even putting

the carbon tax in the budget

papers. I mean, that is absolutely extraordinary, and

it shows that the upcoming

budget is going to be a lie.

It's not going to be a true

reflection of the government's

policies for the next four

years On the GST our saying now

is not the time, what about

down the track Down the track

it's for another time. I mean,

to talk about increase in GSF

or broad England its net in the

current striernt where people,

thanks to Labor are facing

higher electricity prices,

higher petrol prices, they've

got an increase in the cost of

food because of floods and a lang of other events, they've

got increases in mortgages,

they've got a government with

fiscal expansion it is the

wrong time Maybe down the

track Down the track is broad

tax reform. The Government

wept through the charade of the

Henry Tax Review which went for

two years, they accepted only

one and a half recommendations

out of a vast number of

recommendations, the only tax

reform the Labor government is

interested in is increasing

taxes, not interested in any

way in any way in reducing

tax The final issue, the

treasurer has today denied

reports he's already decide

today reject the Singapore

stock exchange takeover of the

Australian stock exchange.

You've previously expressed

concerns about the proposed

deal, what's your position My

position is entirely consistent. Wayne Swan needs

to prove this is in Australia's national interests. If he's

going to prove the deal he

needs to explain to the government people why this deal

is in our national interests From what you know

and what you have seen you

don't think it is I'm wait to

go hear from Wayne Swan, very

hard for him to take positions

of principle, I'll be

interested to see what he

says Is it time for him to te

layer his position on this He

has to go for a process, appropriate process, I

understand that there are some legal sensitivities with him

not going through the proper

process, I would say from a

public perspective, certainly

from a parliamentary

perspective he needs to explain

why this is in Australia's best interests Thank you Thank

you We will look at this carbon

tax debate, have the politics

now shifted with talks of cut

cuts as xen sags, bruise hawker

and Graham Morris join us, stay

with us.

Bruce hawker and Graham Morris join us, stay with us. keer clear one

We're going to get to our

panel in just a moment. Let's

check in on the latest news

headlines with Jacinta. Thanks,

David. Coalition air strikes

str hit trip poll ji for a

second night after the

Whitehouse says it does not

recognise the new cease fire by

the Gaddafi regime. The US

says the int veks so far has

been successful, has vowed to

continue attacks on the Libyan

military to protect civilians.

List led to questions of how

long the mission in Libya will

last and what impact it will

have on middle eastern

relations. In Japan he's

renewed concern over racing

pressure in reactor 3 in the

power plant. The UN a tomorrowic watchdog says the

situation remains very serious,

jap n niece authorities are

urging residents not to drink

top water because of elevated

levels of radio active iodine.

27,000 people are almost

missing or dead, 21,000 people

have been rescued. Australians previously registered as

missing are now accounted for.

Last week's violent protest on

Christmas Island have prompted

the Government to reduce the

numb detainees held there.

Dozens of Australian Federal Police officers were needed to

bring the unrest under control.

Christmas Island has more than

3,000 detainees last year, that

number is ex specced to be

scaled back as authorities now

bring asylum seekers directly

to the mainland. Prince William

is touring flood damaged parts

of northern Victoria, after a

busy weekend touring disaster

affected Queensland. An

enthusiast ic crowd of about

1,000 well wishers with flags

and cameras brave the overcast

conditions to welcome prince

William to Kerang. He's also

attending a barbecue in Murabit

as many locals floeked to see

the young prince. After a

short holiday in the US Brendan

Fevola is back in Australia,

will meet with potential VFL

clubs. He trained with the

Casey skorp yans, which didn't

go down well with the Melbourne

demons, Franklins are circles

the lions and blues forward.

Showers and sforms in the north

southwest and warm in the west.

Welcome back, the last few

weeks have seen some pretty

Pinara yon poll figures, the

latest poll out today has some

mixed results, not such good

results for prince William

either. Peter Louise from

essential media communications

joins us. Let's start with the

pro party preferred result,

some mooft back to the

government That's right, David,

after four weeks of free fall

Labor's stopped the bleeding in

the last seven days, 53/47 to

the coalition, one per cent

increase in primary street,

March given error stuff, the

big news is the dechrooi Klein

has ended. The key focus of

course is again the carbon tax.

You've asked a couple of

questions here. Will a carbon

tax substantially increase the

cost of electricity. What do

people think about that That's

not great news for government,

79 per cent think that that

will increase the costs, only 8

per cent disagree with. That

there ways second question

which I'm not sure if you're

showing there on your slides,

would the power prices go up

anyway, about the same number.

I think the power prices are

really tough issue, the degree

to which it will be sheeted down to the carbon tax is still

probable bleet unknown there.

An interesting figure, roughly

the same amount think

electricity will rise either

way People think power prices

are going up is the

outcome Nuclear power in

Australia what we see and still

seeing in Japan with the

reactor support's really

dropped through the floor for

nuclear power Really

interesting a quarter of all

Australians have changed their

view since December. They've

all gone into the negative

side. The nuclear industry

have done a pretty good job as

presenting nuclear as a clean

energy source. A major of

Australia in December, saying

yes they could see a future for

nuclear power, there was ma

north support. The other thing

that has come out the number of

people strongly opposing has

doubled from 16 to 32. That's

a strong sense that this is now

off the table. Just finally, Peter arks question on the

republic given that prince

William is in the country. I

note in general the figures

haven't changed much on whether

people support a republic or

not, if you throw in what about

in prince William is king what

do you think there You can read

this two ways, one you can see

prince William is no more

popular than his dad, the other

side of it is prince William is

a king would still only have

330 odd per cent, wanting a

republic. The republican

movement, has lost all

momentum, if people think a

change of crown, whether

Charles or William is doeg go

to resurrect it they have

another thing coming People are

saying it depends on what the

model is That's trite true, I

think it's probably an issue --

we were seeing if there was any

wind of changes given the

royals being out, the answer is

no Thanks. Let's get to our

panel, joining us from the Sky

News centre Labor strategist

Bruce hook from campaigns

communications, liberal

political consultant Graham

Morris Barton Deakin. Let's

start with the carbon tax cut

tax debate. We don't know a

lot of the detail, Ross garn

owe suggested tax cuts as a

form of compensation. Does

that change the political

equation here? I don't think

so. It's still compensation.

Shall You get compensation when

you loose an arm or you're in a

car crash or somebody bochs an

operation on you. That's essentially what we have got

here. The Government is going

to operate on people's wallets

make it lighter, talking about

compensation. How much that

compensation is goodness knows,

but, they've got to do that. Two different things here, one

is the carbon tax and

compensation. And the other is

tax reform, and they shouldn't

be mixed up Why not? Because

they're not. We have got the

Ken Henry whole tax reform

paper there with 120

recommendations that are

sitting in somebody's drawer

there somewhere and with we're

now going to have -- I don't

mind the idea of having a tax

summit or a tax forum that's

been down graded a bit, I don't

know why October, it seems to

me you could do in July and

just get on with it, but I gren

winly think this whole tax --

genuinely think this whole tax

compensation thing for the

carbon tax is going to get

missy. This is going to be a

tax on electricity, food,

health Tony Abbott is really

going through piece by piece

attacking all of those, do you

think the coalition is right to

say we will scape the carbon

tax but we will also scrape the compensation, are their risks

in saying that, we don't do

might do away with the tax

cuts If you don't hurt people

there's no reason to compensate

them F a government has a

sensible policy here they

wouldn't require this sort of

man nip lating of the money.

Bruce how quickly do you think

the Government needs to talk

this you out, start talking

about the good yis that will go

with these tax cuts in terms of

compensation They've got some

time on their thandz of course,

there's not an election due for

a couple of years, they don't

want to spend too much time

trying to get the story out

about the poll tiffs involved in their package. That

requires them to go through

this multiparty committee,

through the parliament, there

are a few stages they shr to go

through before they can go out

and aggressively sell it Would that include advertising in

that aggressive selling I would

support that just as John

Howard aggressively sold a GST

with 100 million dollar

government paid advertising

program, just as John Howard

was planning before the 2007

election to have a campaign

paid for by taxpayers around

climate change, so, yes, I

would accept that, I would

support that. I would support

that You promised there would

be no advertising I would be

very strongly in support of

that proposition, just as John

Howard when Graham was working

for him was supportive of that proposition too, now, I would

say this, though, on the

question of the tax, why is the

Government having to talk about

these issues, the Government's

not doing this because they

want to go out and punish

people as Graham would have you believe, they're doing this

because there are very real

problems coming down the line

that have stob confronted by us

as part of the ipt nagal

community. We're not going to

be putting our heads in the

sand like an ostrich on this

one, we're actually got to take

it on. The politics of

negativity are strongly

expressed in the voice of the

opposition leader,

unfortunately that's the way

they're going to go. Labor is

going to have to come out with

a very positive program, because they do need to be

telling the electorate that is

something that we as part of the international community

have to do We know the

opposition will be running a

strong campaign against this.

I just want to show you one

coalition Back Bencher who had

an interesting approach in

making his point on this, this

morning, he was Dennis Jensen,

arriving at parliament house

this morning If you listen

very very carefully, you know

what that's the sound of, the

sound of tax, after July 12012.

If you have a look at that and

I power it, all of those little

bubbles there, it's tax, it's

carbon dioxide. He's a

scientist, isn't he, Graham,

there you go You'd think he'd

know better then, wouldn't

you Let's move on, Christmas

Island, last week was just

awful, the riots, the protests,

it was completely out of hand,

more Federal Police have been

sent in. The question has been

left hanging as to you know

those who instigated this sort

of violent protest, what will

happen to them, there is any

chance they could get a visa,

we have got a bit of the Prime

Minister trying to signal that

a very harsh view will be taken

of those who were involved in

this. Have a look. This kind

of violence and conduct can and

will be taken into account

under the proper procedures of

the Migration Act. What I

would say to the member, what I

would say to the member is as

I've said publicly, no-one who

engages in this kind of conduct

will profit from it. Tony

Abbott was challenging the

Prime Minister to declare that

they won't get visas she said

look legally that was up to the

Minister, if I was to say that

that would prejudice the

decision, challenge in the

Courts. How is this all

playing out, the scenes that

have been just awful from

Christmas Island The policy is

going we, isn't it We have

boats arriving daily, we have

now riots, I gather next week

the Prime Minister will pop

over to East Timor and open the

international detention centre

she's been talking about,

probably get a free seat on

pigs might fly airlines. Look,

I had some hope when minimum ster Bowen took over I thought

the first couple of months he

showed a backbone. He was

going to send people back, he

was being strong. It's now

all untidy and a complete mess

again. I think it is

interesting, if these were

Australians, who had broken out

of a gaol or a detention centre

there would be penalties, one

presumes that these people are

not going to be dealt with with

kid gloves and cuddled and

given a pat, pat, you poor dear

thing None of this is a good

look for the Government? It

was a difficult issue of course

for them to deal with. As

everybody knows these people

can be dealt with under

Australian law, they can be

dealt with under the provisions

of the Migration Act which

would provide the character as

a consideration when deciding

whether they're going to be

given visas or not, I think a

lot of these people would want

to have a good hard look at the

provisions of that Act now. It

is a big challenge for the

Government, these problems are

never easy, just a couple of

facts. There are something

like 43 million displaced people in the world at the moment. This is not a problem that's unique to the Australia,

a problem which the world has

to deal with, another thing

that the opposition just wants

to ignore, Graham wants to make

jokes about, a very serious

problem in the world today.

Secondly, when the Howard

government, which Graham

advised on was issuing

temporary Protection visas in

1999 after they issued them a

further 8,400 boat people

arrived on our shores, and only

3 per cent of them were ever

denied permanent access to our shores, in other words only 3

per cent were sent back. In

other words, there's a lot of

hot air in this. There's a lot

of distress being caused by the opposition, frankly, by

whipping it up in the air in

which they do, there's no

there's no for giving people going around burning down

buildings, it's about time that

the opposition leader, people

like Graham start today take

this thing a lit bit more

serious and acted like

international dip plot mats I'm

sure we will have a chance to

respond on that, the issue u

will pop up again. I wanted to

talk to you both about the New

South Wales election, the final

week of of your campaign,

you'll be talking about that

tomorrow night on so you want

to be a politician on Sky News,

with us this Saturday night as

well extensive coverage of the

election. I'll look forward to talking to you again. Turning

to Libya after the break,

talking to a historian who

specialises on the country,

what is COL Gaddafi really up to. Stay with us.

To the situation in Libya

now, and coalition forces

remain deeply sceptical about

the latest cease fire offer

from Muammar Gaddafi. Air

strikes against key military

assets have been under way for

two days and nights. The

latest hit part of Gaddafi's

residential compound in

Tripoli. It's unclear where

the Libyan leader was at the

time of this particular attack,

it's somewhat unclear exactly

whether the coalition wants to

take him out or not. Weeks ago

Barak Obama and other western

leaders said it was time for

Gaddafi to go. According to

the Pentagon he's not on the

target list. At this particular point I can

guarantee he's not on a targeting list. The rest of

that is if he happens to be in

a place, if he's inspecting a

surface to air missile site, we

don't have any idea that he's

there or not His residence No,

we're not targeting his

residence, this time we're

there to set the conditions and

enforce the United Nations

Security Council resolution,

that's what we're doing right

now Meanwhile a Libyan military

spokesman has called for a

cease fire and a peaceful

procession to Benghazi the

rebels' strong hold. Not the

first time that the Gaddafi regime had kaud for a cease

fire, previously it breached it

itself with further attacks on

rebels and civilians. It

follows the Libyan leaders own

call hours earlier for lib yans

to fight against what he's

calling the foreign invaders,

the latest cease fire call left

many puzzled. We, the popular

social leadership of Libya

recommend to the recommended to

the armed forces to announce an

immediate cease fire to all its

military units, and to invite

all cities, towns and triebs to

join in and par tis pat in the

historical March, peaceful

march to start from Tripoli

using all means of transport

destination Benghazi. Associate

Professor Richard Pennell from

me born university is an expert

and historian on the region.

What you know of COL Gaddafi

how seriously should we take

this or any offer of a cease

fire that he makes? I think

you treat it with a great deal

of skepticism. Gaddafi is a

past master at using theatrical

gestures, announcements, to

make a point or to gain time,

so I would take it with a great

deal of skepticism. His last

promise of a cease fire was

somebody said just now broken almost immediately after it was

made. It's a very good way of

wrong footing the people that

are attacking him, because it

turns them then into

aggressors. The attacks in

these last couple of nights

clearly very forceful. The

Arab League is saying while it

did call for a cease fire this

isn't what it envisaged, they

wanted civil yans being

protected not sheld. What is the significance of the Arab League now having concerned

about what is going on ift the

Arab League is made up of Arab governments and those

governments in the past have

supported outside int veks in

the Middle East. They famously

like many p Arab governments

supported the American

intervention in Iraq in 1991,

then found that their own

populations were distinctly

opposed to that. There were

massive protests in more okay

Co, in Egypt, most well known

of all amongst the

Palestinians. This called into

question the credentials of

this government with their own

populations. If we now see a

large number of Libyan

civilians being hurt tlar going

to be worried about the same

thing happening again What happens to the regional -- it

is a continueder box, we know

that region at the moment

there's a question there for I

suppose Gaddafi can exploit

about the legitimacy of this international action, if you

have the Arab League concerned,

Russia has expressed some

regret about the cease fire,

does that give Gaddafi the

opportunity to exploit the

questioning of how legitimate this western action is?

Gaddafi is already challenged

the legitimacy, he's never

suggested it was anything else

legitimate. Very unlikely to

do so. Gaddafi will use any

means he can find of wrong

footing the other side. It's

quite naive to suggest that a

government which has shown

itself quite capable of putting

civilians in the front line is

going to take a great deal of

care to make sure they aren't

harmed during these attacks, so

quite clearly if this goes on

then civilians are going to be

affected, yes. Show just final

ly what's your best guess of

how this is likely to play out.

Do you think there is a chance

COL Gaddafi could survive this

international action, reform

his government and stay in

power? Look, I think a

possible result is that there

will be a stalemate, that

Gaddafi will be unable to out

of the rebels from the eastern

side of Libya and they will be

unable to Oust Gaddafi so what

you get is a long drawn out

situation which may eventually

lead to people within Gaddafi's

own government, his own

supporters coming into the --

to the conclusion that the only

way out of this is to remove

him. But the number of people

that are around to do that and

the capabilities that they have

of organising an opposition

within the regime is strictly

limb limited by the fact that a

great many p of they have been

removed from positions of

influence and authority.

Gaddafi is more and more

relying on the very small

number of people, p of whom are

related to him. It will be

interesting to see just what

sort of support he can garner

then beyond that within Libya.

Associate pro tesor Richard

Pennell from the universe of

Melbourne. Business today,

Libya is a big part of the

story, John care ris son from

the business channel, the oil

price is climbing again Libya

is a very part of the story,

Brent cruel 116 a barrel, two

dollars up, rain is a very big

part of that story, analysts

say that country is being

watched closely Saudi ah rab ya

produces 9.1 million versus

Libya's 1.6, if this is a case

of falling dominoes, Saudi ah

rab ya sees unrest it could get

messy with the price of oil We

will all feel the pinch at the

petrol pump, don't forget Helen

daily with the late edition, 8

o'clock, we will be back at the

same time tomorrow, I'm David

Speers, nood night. p Live captioning by Ai-Media