Category Archives: Australian economy

Competition watchdog to call for power of mandatory disclosure in investigations

Posted on by

ACCC chief Gina Cass-Gottlieb wants legislaltion changed to enable it to force businesses to give up data without the need for government backing

The competition watchdog should have its powers increased so it can initiate its own inquiries with mandatory disclosure clout, says Gina Cass-Gottlieb, the head of the Australian Competition and Consumer Commission.

The ACCC can now launch its own investigations, such as a probe into exorbitant foreign exchange transfer fees. However, the agency only has compulsory information collection powers if specifically directed by the government such as for its current probe into supermarket behaviour.

Continue reading...

Labor pledges 12% superannuation on publicly funded paid parental leave

Posted on by

Plan designed to help close retirement savings gap between women and men is expected to cost $250m a year from July 2025

Parents will receive 12% superannuation – or about $106 a week – on their publicly funded paid parental leave from July 2025, under a major initiative to be announced by the Albanese government.

The decision, expected to cost at least $250m a year to the federal budget, responds to calls from the Women’s Economic Equality Taskforce, unions and the crossbench to pay super on PPL as a way to help close the retirement savings gap between women and men.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Australia news live: West Gate Bridge climate protesters jailed; Greens propose plan for 360,000 homes

Posted on by

Proposal to create a public property developer, with 70% of homes offered for rent, and rents capped at 25% of average household income. Follow the day’s news live

New analysis shows 2m hectares of Queensland forest destroyed in five years

More than 2m hectares (4.94m acres) of bushland in Queensland that included large swathes of possible koala habitat has been cleared over a five-year period, new analysis shows.

Continue reading...

Australia news live: Higgins and Reynolds in defamation mediation talks; first apparent lithium battery-related fire deaths in NSW

Posted on by

Follow the day’s news live

Zoe Daniel says Asean has not done enough on crisis in Myanmar

The independent MP for Goldstein, Zoe Daniel, was just on ABC RN to discuss the ongoing humanitarian crisis in Myanmar. She argued that Asean hasn’t done enough on the issue, and needs to do more.

There’s also I think, a desire within Asean for economic cooperation and to try to take that route with the junta as a form of leverage … My concern though is that, I think, that we might be heading down the path of a form of normalisation with the junta and you’ve currently got a situation where about 30% of the country is in stable control of rebel ethnic groups, and the junta is really only holding the major cities.

Any form of normalisation with the junta that is pushed by Asean, and I think will be raised with the Australian government for support this week, could backfire because it could in effect allow the junta to enter some of those areas that are reasonably stable and are actually managing themselves.

Continue reading...

Australia to launch $2bn fund to ‘turbocharge’ trade with south-east Asia

Posted on by

Anthony Albanese plans to boost clean energy and infrastructure exports, and increase visas for travellers from the region

Australia will set up a $2bn fund to “turbocharge” trade and investment in south-east Asia, with a focus on clean energy and infrastructure.

The prime minister, Anthony Albanese, will announce the fund in Melbourne on Tuesday when he addresses a gathering of 100 chief executives from Australia and south-east Asia.

Continue reading...

Australia news live: NSW government to look ‘really closely’ at GPS rules for police-issued weapons after killing of Luke Davies and Jesse Baird

Posted on by

‘Change needs to be made’ on NSW police policies and procedures, premier says. Follow the day’s news live

‘Context has changed’ since NSW lit up Opera House to support Israel, Minns says

ABC News Breakfast host Michael Rowland:

You ordered the lighting up of the Sydney Opera House sails in support of Israel after 1,200 Israelis were murdered by Hamas terrorists on October 7. Since then, 30,000 Palestinians have died. Will you consider lighting up the Sydney Opera House in support of Palestine?

This is an international conflict now and I don’t want to further exacerbate or pull apart Sydney’s already quite volatile mix. I would make the point that much of what will be said in New South Wales will [not] affect the peace situation in the Middle East, but a lot of what could be said can affect peace right here in this state. So we need to be careful with our commentary, we need to focus on not exacerbating community tensions or divisions, and that’s going to be the NSW government’s approach over the coming months.

Continue reading...

Australian workers’ productivity drops 3.7% as employment surges and investment slows

Posted on by

Wage growth from higher employment and hours worked without output gains could fan inflation, Productivity Commission warns

A surge in employment combined with scant investment by firms to improve output triggered a sharp drop in worker productivity, limiting prospects for income growth without fanning inflation, the Productivity Commission said in its annual report.

Across the economy, productivity fell 3.7% in 2022-23, as output growth failed to keep pace with a record 6.9% increase in hours worked, the commission said. A rush by employers to hire new staff was much higher than in previous bursts – the nearest comparison was the 4.3% rise in hours worked in 1988-89.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Australia politics live: Victorian premier cancels iftar dinner after Muslim peak bodies boycott; jump in renewable energy investment

Posted on by

Jacinta Allan confirms dinner, which has been held since 2015, will not go ahead. Follow the day’s news live

Hockey says Asio boss should name accused politician in interests of transparency

Joe Hockey said it was “not standard practice”, as Hockey is now apparently an expert in how Asio and like-minded security agencies operate.

You know, they’ve launched investigations over here. I mean, you know, you had you had the Mueller inquiry into President Trump. You had an FBI inquiry into Hillary Clinton. You don’t just make this allegations, leave them unnamed and say, ‘Oh, yeah. They’re back in the community. They’re fine’, that just does not happen.

I mean, allegations have been made against Senator Menendez here as a sitting senator. They named the sitting senator.

Talking about a traitor amongst the ranks. He shouldn’t do that. If he’s not going to name that person. It’s absurd. It’s absolutely absurd.

It’s inconceivable here in the United States or the United Kingdom, or most other countries, that the head of the intelligence agency would go out and make that statement without telling everyone who it was.

Continue reading...

Deal allows police to march in parade – as it happened

Posted on by

This blog is now closed.

On the “broken promise” of changing the stage-three tax cuts (the latest Guardian Essential poll had Albanese falling in the trust stakes) the prime minister said:

We made not an easy decision. We made the right decision for all the right reasons. We know that families are under cost of living pressure.

The idea that we could sit back and ignore the clear recommendations that this was the best way that we could have an impact on providing that assistance to middle Australia without putting upward pressure on inflation – we couldn’t ignore that.

This is just a terrible incident that’s occurred here. The loss of the two young men and I feel for the grieving of the family, the friends. They obviously were full of life, because so many people interacted with them. It’s a really tough day for, as well, the queer community, and it’s been a very difficult time.

Continue reading...

Lidia Thorpe backs Mardi Gras over NSW police decision – as it happened

Posted on by

This blog is now closed.

The trade minister, Don Farrell, is at the World Trade Organisation ministerial conference in Abu Dhabi where he had a sideline chat with China’s commerce minister, Wang Wentao, overnight.

Sideline chats are the unofficial official talks – it’s not considered a bilateral, but both sides have to agree to the talk in order for it to happen. So it’s not just a see them and grab situation between sessions. It’s a little more planned than that.

Continue reading...

Greens-Coalition alliance may force Chalmers to keep power to overrule RBA on rates

Posted on by

Chalmers had announced plans to scrap the veto power but former treasurers and RBA governors say it is a vital ‘safety valve’

An alliance between the Greens and Liberal parties in the Senate could force Jim Chalmers to keep a government power that allows treasurers to overrule Reserve Bank decisions on interest rates.

Chalmers announced plans to scrap the veto power in the government response to recommendations from a panel which reviewed the Reserve Bank operations and made suggestions for improvement.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Australia news live: NSW police officer charged with murder after disappearance of Jesse Baird and Luke Davies

Posted on by

Former celebrity blogger expected to face court. Follow updates live

What will happen if there’s a storm during today’s Taylor Swift concert?

With a thunderstorm forecast at Sydney Olympic Park this evening, many are asking what this means for the Eras tour?

The show will play, rain or shine. The only exception would be severe weather, which could impact the safety of artists and patrons. Such a decision would be made by NSW Police, the event promoters and Venues NSW staff.

Please follow venue screens and staff instructions in these circumstances.

Continue reading...

Australia news live: wages rise by 4.2% over 2023 in highest growth since 2009; flight cancellation crackdown

Posted on by

Transport minister Catherine King unveils overhaul to legislation governing Sydney airport, to significantly increase transparency over allocation of take-off and landing slots. Follow the day’s news live

Man dies after electric unicycle crash in Victoria

A man has died after crashing his electric unicycle in Bellfield yesterday evening.

We have concerns for his health. We have been working consistently since coming to government, particularly behind-the-scenes, to say that we believe Mr Assange should be returned … These sort of issues of diplomacy are not always best done through a megaphone, but we will continue to advocate for an end to this and see Mr Assange returned home.

Continue reading...

Hastie’s defence comments ‘unhinged and misleading’, Conroy says – as it happened

Posted on by

This blog is now closed.

Ex-cyclone Lincoln could gather strength and redevelop

A massive storm that lashed the Top End with heavy rain could gather strength and redevelop into a tropical cyclone, AAP reports.

We’ve seen all the leaders of major parties say they take on board and accept in the recommendations … but it appears very little has changed on the ground. We still have unlimited and unmonitored alcohol consumption in Parliament House and in the workplace.

That’s why I put to the prime minister random testing could be introduced. Because we know from – even from driving, it’s a deterrent. As soon as you have a risk of getting caught, it changes behaviour.

People have had enough of politicians thinking there’s different standards that apply to them in Parliament House than what applies in other workplaces.

Continue reading...

Australia news live: Taylor Swift shows to go ahead at Sydney Olympic Park after no asbestos found – as it happened

Posted on by

NSW environment watchdog gives venue green light after tests; agency says schools at Marsden Park and Orchard Hill found to have mulch containing bonded asbestos. This blog is now closed

Asked about the Barnaby Joyce incident and “issues of alcohol in Parliament House”, Chandler-Mather says the public is right to expect “a high standard for politicians”, even though they “don’t always deliver”.

Look, personally, in general I don’t think drug testing and alcohol testing in any workplace is necessarily a good idea. People are justifiably upset at the standard politicians hold themselves to.

When we talk about immigrants, we’re talking about the nurses and teachers, construction workers. Secondly, we saw during Covid net migration reached near zero and house prices continue to … go up. Property is treated as a massive speculative asset that drives up the price of housing.

I want to be clear, we have enough homes for people to live in. We have enough construction materials to build the homes for the new people coming to this country. We don’t have the political will to take on a housing system and property developers who restrict supply to make money for themselves and treat housing as a huge speculative asset.

Continue reading...

BoM issues cyclone alert for NT and Queensland; NSW Health warns of high-dose MDMA tabs in circulation – as it happend

Posted on by

Heavy rainfall is expected to hit the Gulf of Carpentaria coast with a risk of a possible tropical cyclone from Thursday. This blog is now closed

Not everyone voted to bring Julian Assange back to Australia

Looking at the Hansard, it seems there were 11 MPs who abstained from voting on the Assange motion:

Continue reading...

Australia politics live: Queensland introduces bill for carbon reduction target; Garnaut argues for zero-carbon exports

Posted on by

‘Export of zero-carbon goods can underpin a long period of high investment, rising productivity, full employment and rising incomes,’ economist tells press club. Follow the day’s news live

When it comes to treaty and truth-telling though, things are a little less clear. For all intents and purposes the government seems to be backing away from a designated federal process. We heard some of that yesterday, but Linda Burney continues it today.

For all Jacinta Price is accusing the Labor government of doing treaty “by stealth” that doesn’t appear to be the reality. Instead, existing processes look like being utilised.

I am having discussions with the cabinet about that, and I’m not going to go into those discussions. But the issue of truth-telling is incredibly important. And there are many, many ways in which that can happen, including the school curriculum.

The reality is the treaty process is well under way at a state and in many ways at a local level. You look at the Noongar agreement in and around Perth. For all intents and purposes, that’s a treaty.

What I’m suggesting is that we will listen to what people are saying.

I know that there are some people in the media, but I want to talk also to community leadership. I’m meeting with land councils today, for example, who are in Canberra this week for estimates. Those are the organisations that really worked very hard towards the referendum and I want to hear from them where they believe the next steps should be.

Continue reading...

Australian fossil fuel tax could raise $100bn in first year alone, Rod Sims and Ross Garnaut say

Posted on by

Revenue from carbon solution levy could subsidise green iron, aluminium and fuel production, veteran economists argue

A tax on fossil fuel production could help fund Australia’s transition to becoming a carbon-free energy giant, lower the cost of living and assist the world to cut greenhouse emissions, according to two veteran economists.

Ross Garnaut, a leading economist during the Hawke government, and Rod Sims, a former head of the competition watchdog, say a so-called carbon solution levy would raise $100bn in its first year alone if introduced in 2030-31 and set at Europe’s five-year average price of $90/tonne of carbon dioxide-equivalent.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Commuter chaos as wild weather leaves half of Melbourne’s train lines offline – as it happened

Posted on by

This blog is now closed

Today is the 16th anniversary of Rudd’s national apology

It is National Apology Day, which marks the anniversary of the day the former prime minister Kevin Rudd formally apologised to Indigenous people for the stolen generations.

Continue reading...

Australia politics live: flight chaos across country after air traffic controller no-shows, Senate told; Linda Reynolds announces retirement

Posted on by

Airservices Australia were grilled in Senate estimates after nationwide flight disruptions due to the missing staff. Follow the day’s news live

Dutton says Liberals will bin ‘right to disconnect’ if they win next election

Switching gears now – Peter Dutton has vowed to scrap the “right to disconnect” if the Liberal party wins the next election. Last week, Dutton told Sky News:

If you think it’s OK to outsource your industrial relations or your economic policy to the Greens, which is what the prime minister is doing, then we are going to see a continuation of the productivity problem in our country.

And as the Reserve Bank governor pointed out, if you don’t address it you’ll see interest rates continue to climb or you’ll see them stay higher for longer.

We’ve been overwhelmed by positive feedback from people who say - yeah, it’s not right that I should be on call 24/7 when I’m not getting paid for it.

And Peter Dutton wants you electronically bound to your boss, and having to answer calls 24/7, even if you’re not getting paid for it.

Continue reading...