Controversial business tycoon Dick Smith has hit out at TV presenter Waleed Aly on-air, claiming the host doesn’t “understand basic economics”.
Smith appeared on Ten’s The Project last night after publicly siding with One Nation party leader Pauline Hanson’s tough stance on immigration, declaring that Australia needs to limit its population growth.
Aly fired back by noting Australia’s ageing population, with a lower proportion of young workers having to support an increasingly high proportion of retirees.
“You can come up with an immigration program that means a whole lot of young people would have to work with taxes at huge levels to support the retiring,” Aly said.
“Otherwise you would have to level with us now and tell us how much tax you want young working people to pay so that the ageing population can have a retirement?”
Smith certainly didn’t hold back in his reply. Check it out below…