Angus Taylor Rejects One Nation Alliance Over Economic Risks

Opposition leader Angus Taylor condemned One Nation's economic agenda during a speech at the Sydney Institute on July 9, 2026, arguing that its unfunded policies would trigger a sovereign debt crisis. Taylor claimed that four key pillars—including net zero migration, indexing income tax brackets, income splitting, and increasing defense spending to 3.5% of GDP—would cost the economy one trillion dollars over a decade. He warned that these promises would spike inflation, forcing the Reserve Bank of Australia to raise interest rates by approximately 3 percentage points and adding $20,000 annually to the average new mortgage.

Taylor described the party's platform as a "random grab bag" and a "column of smoke," explicitly ruling out a political alliance. He stated his intention for the Coalition to govern in its own right, asserting that the party's implementation of its plan would lead to deep cuts to Medicare and pensions.

Responding via video from London, Pauline Hanson accused Taylor of adopting One Nation's own policies on net zero and immigration. She urged Taylor to stop denigrating her party and instead cooperate to remove the "toxic" government of Prime Minister Anthony Albanese and the Greens. While Taylor's approach focused on economic critique, other Liberal frontbenchers, such as Andrew Hastie, have taken a more aggressive stance, declaring a "war" on One Nation.