Television interview, Today Show

SUBJECTS: China relations; Energy; Annual Cyber Threat Report

SARAH ABO, HOST: To discuss this further, we are now joined by the Deputy Prime Minister, Richard Marles, live from Canberra. Deputy PM, good to see you as always. So, the PM and Chinese President seem to be getting friendly in Rio. China seems to be on the charm offensive ahead of a potential Trump tariff imposed trade war. How worried are you about that?

RICHARD MARLES, ACTING PRIME MINISTER: Well, firstly, we have been since the outset of coming to government seeking to stabilise our relationship with China. It's a complicated relationship and there are moments where we absolutely disagree, as we must. But we have in the process been able to restore $20 billion worth of trade, which accounts for thousands of Australian jobs. And that's obviously of great benefit to the Australian economy. And we'll continue to work with that. I mean, in terms of whatever happens in a future Trump Administration, we clearly expect there to be changes in policy but we'll work them through with our US partner. Obviously, we're a country committed to trade.

ABO: I guess the issue is that Trump might reign on that parade, given how much progress we have made with China.

MARLES: Well, I mean, we will work with the Trump Administration as we did in the past. We are a trading country. An increasing proportion of our prosperity comes from trade and obviously we are keen to pursue it.

ABO: President Xi wants Australia to loosen foreign investment restrictions with China as part of a wider trade agreement. Would you bow to that?

MARLES: Well, we'll always act in our national interests. So, it's not about bowing to anything, it's about trying to increase our national interest. We do have very important controls in relation to foreign investment and they'll be maintained.

ABO: The Government's been busy, obviously, with the PM at G20 and you've also got your energy Minister Chris Bowen at COP 29. He's been denying an appeal from the US and UK to sign a nuclear energy agreement. Peter Dutton says we are an international embarrassment. Are we at odds with the international community and our allies when it comes to nuclear?

MARLES: No. And this is Peter Dutton desperately trying to conflate two issues for his own political agenda here in Australia. And frankly, it’s that agenda that is,

ABO: You guys are kind of doing the same thing though, aren't you?

MARLES: Well, no, because this is an agreement between the United Kingdom and the United States about cooperation in respect of their civil nuclear industries. We don't have a civil nuclear industry and Peter Dutton well knows it. And even Peter Dutton's plan for one, which would be pursuing the most costly form of energy on the planet, which would see an increase in energy prices for each household of about $1200, even that plan would not come into effect for 20 years and when it does, might contribute 4% to the power grid. So, that's what we're talking about. This, this is not an agreement which applies to us and it's completely separate to AUKUS, which we are pursuing with vigor.

ABO: I guess the issue is that if you're willing to go down some path when it comes to nuclear, why not energy as well? I mean, you spoke there truly about how Peter Dutton hasn't yet released the costs of going nuclear in terms of energy, but the costs for renewables in, in Australia as well have been revealed to be far greater than you expected at $642 billion.

MARLES: Well, Sarah, that's one report and we don't accept the veracity of that report at all. Renewable energy in the world today. Firmed renewable is the cheapest form of energy on the planet and that's why countries around the world are pursuing it. That's why we are as well. And since we've come to power, we've seen an increase in renewables in our grid of 25% firm renewables. We need to be walking down a path of pursuing zero net emissions by 2050. I mean, obviously that helps the world in terms of climate change, but, but it is actually what will give rise to the cheapest forms of power in Australia and Australia moving down the technological path as fast as possible. This nuclear foray of Peter Dutton is, is frankly going down a dead end. It will cost people the most. At its best, it contributes 4% to the power grid 20 years from now. That's what we're talking about and we are working very closely with our partners in relation to AUKUS, and using a nuclear reactor for a submarine, for a single machine is very different to pursuing nuclear power which was going to power cities and states.

ABO: Deputy PM I just want to very quickly get onto cybersecurity as well. That was obviously on the table at the G20. These cyber threats with respect to China as well are pretty alarming. This new report this morning finding that it's on the rise. How significant are these and how worried are you? How can we tackle them?

MARLES: Look, it is significant. We get a report to the Australian Signals Directorate, which is our agency that deals with this. We get one every six minutes. And the cost of each of these attacks is now going up. An 8% increase for small business, 17% for individuals. And really worryingly, we are seeing a greater interest from state actors and criminals in attacking our critical infrastructure. So, you know, this is something that we need to be dealing with. We're really asking businesses today to be really careful about what systems you have in place, know what systems you have in place. This is an evolving threat. You can't just sit and forget your cyber defences and you need to be working with ASD. They're the experts and they really can help.

ABO: Yeah, it's very uncomfortable being vulnerable to some of those global superpowers. Deputy PM, thanks for your time this morning.

MARLES: Thanks Sarah.