Category Archives: Australian economy

Australia news live: Albanese announces special envoy to combat antisemitism, says Jewish students ‘worried’ to wear school uniform

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Meanwhile, attorney general to outline updated legislation to crackdown on money laundering. Follow the day’s news live

The minister for Indigenous Australians, Linda Burney, said that when it comes to the Alice Springs curfew, politics needs to be left out of it.

Speaking with ABC RN, Burney said:

This issues in Alice Springs have been a long time in the making … [The issues] will only be addressed over a long-term funding commitment, which we’ve made from the federal government.

We certainly are concerned that this is going to continue to increase and potentially overwhelm the hospital systems.

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Dutton says ‘Australia can learn’ from new British PM’s nuclear stance – as it happened

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‘Pretty clear’ Fatima Payman has been planning to join crossbench for a ‘long period’, minister says

The finance minister and manager of the government in the Senate, Katy Gallagher, is speaking with ABC RN after Fatima Payman’s resignation yesterday.

It’s difficult to go into, you know, when the decision was made – only Senator Payman knows that – but we do know, now that it’s been done, it’s a matter of fact that there had been obviously discussions about her role as an independent senator and for some time.

I think the way these decisions have been made by Senator Payman make it pretty clear that she has been thinking about this for a long period of time, and it was executed this week …

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Senator says PM’s office planted seed about crossing floor – as it happened

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Josh Burns says Labor motion to recognise Palestine as part of the peace process is ‘the bare minimum’

Josh Burns finished with:

This motion before the House is the bare minimum. It says that we support the recognition of a Palestinian state as part of a peace process. That peace process is something that I hold onto and that I have held onto my entire life.

That peace process says that we are all people, above all, and that there has to be a way through this. There has to be a way through this conflict. I wish that we could pull a lever here in Australia and it would all end today, but we have seen time and time again that that is not the case.

There are so many intractable parts of this conflict. I have a degree in this conflict, and I still don’t quite know how to fix it.

I know that there are players who are desperate to end the peace process and to try and disturb any efforts towards peace. I know that trees take years and years and years to grow and can be cut down in a second, and that is what the Middle East has demonstrated over and over again.

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Older Australians pressured into paying unfair robotax debts will not be compensated, government says

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Finance minister Katy Gallagher says people who felt intimidated into paying back ATO debts so old they are impossible to verify will not get their money back

Older Australians who felt pressured into paying decades-old debts as part of the troubled “robotax” campaign have hit out at a government decision to deny refunds after describing the tax grab as coercive.

The federal government has disclosed it intends to amend laws that will allow the Australian Taxation Office to keep debts put on hold before 2017 on ice indefinitely, rather than extract them from future tax refunds, as was planned.

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Australia politics live: Labor caucus endorses Payman suspension; Watt says no plan to ban live cattle exports

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PM calls for ‘a long-term solution in a peace process’ between Israel and Palestine. Follow today’s news headlines live

Shorten says he thinks Labor party is trying to give Senator Payman ‘space and time’

Bill Shorten continues:

I see why people feel so strongly. They can feel so strongly about the hostage is not being returned, or the deaths in Gaza. People could feel also very strongly about the near million deaths in Sudan.

I can get these very incredibly strong issues. And if you come from particular communities, they’re even more intense, although that doesn’t need to be the prerequisite.

Before I deny something, what’s your source?

No, I don’t believe that.

… Because I wasn’t there and I don’t believe it. I actually think the prime minister, Senator Wong and the leadership are handling a complicated issue pretty well.

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Australia politics live: Butler tells convenience stores and corner shops ‘you need to stop’ selling vapes as new laws begin

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Aly believes amended motion on recognition of Palestine was stronger than Greens motion

The Greens motion that Fatima Payman voted for, called for recognition of Palestinian statehood. Labor amended the motion to say that recognition of Palestinian statehood was part of a peace process that ended in a two-state solution.

I think actually our motion strengthened it because the I think just saying the night to recognise a Palestinian state without any context is in some ways tokenistic. I don’t want this to be tokenistic. I want this to be a very clear message to the Palestinian people that Australia supports their aspirations for statehood.

And as I say, I was hoping that that would have a resolution, would have got passed. And unfortunately, it didn’t.

There’s never one opinion here and you know, different people in the Muslim communities will have different views.

And I’ve been in contact with quite a few who have a very different view, who argue one of those things, or they’re they’re saying that, you know, the way to make change may not necessarily be the way that Fatima has chosen.

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Fatima Payman indefinitely suspended from Labor caucus – as it happened

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“I think he has the capacity,” Marles says when asked if Joe Biden has what it takes for the next four years. “I’ve got no doubt there will be no issues in relation to that.”

Marles says Biden administration doing ‘fantastic job’

We work very closely with him and we are very pleased with how we’re progressing with the United States both in terms of their position in the world, but also in terms of our equities, most significantly, of course, the Aukus arrangements that we have in place.

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Debt collection giant Panthera puts large parts of its business into administration

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A Guardian Australia investigation has revealed Panthera had circumvented blacklisting designed to stop it operating in Victoria

Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business.

Last month, Guardian Australia revealed Panthera, one of the country’s biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and continued to strike debt purchase deals within weeks of regulatory warnings.

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Fatima Payman admits she ‘upset a few colleagues’ by crossing the floor – as it happened

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Housing minister Julie Collins is speaking to the ABC RN about Labor’s build-to-rent bill which was knocked back in the Senate yesterday, with the Greens and the Coalition combining to delay it:

What we want to do is get this done. We’ve already been consulting, we announced it in the previous budget. Any delays will actually stop the pipeline of construction and the certainty for the sector.

What we want to do is get more affordable homes and more homes of every type on the ground as quickly as we can.

We’re saying they have to have a minimum of 10% to be eligible for the tax concessions that we’re talking about for each development.

That’s what our consultations and our discussions with the sector have done and, as I said, this is not the only thing we’re doing for affordable homes … My point here is that they continually delay and block housing up every time by coming together and having this unholy alliance between the Liberals and the Greens in the Senate, because they’re more interested in votes than they are about people.

We’re not open to negotiation and we want to get this done.

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Nuclear more costly and could ‘sound the death knell’ for Australia’s decarbonisation efforts, report says

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Analysis from Bloomberg New Energy Finance says even if nuclear is successfully implemented it would be ‘at least four times’ more expensive than average cost of renewables

A nuclear-powered Australian economy would result in higher-cost electricity and would “sound the death knell” for decarbonisation effort if it distracts from renewables investment, a report by Bloomberg New Energy Finance (BNEF) argues.

The report comes as ANZ forecast September quarter power prices will dive as much as 30% once government rebates kick in. A separate review by the market watchdog has found household energy bills were 14% lower because of last year’s rebates.

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Shorten says NDIS ‘too important for political games’ after bill blocked – as it happened

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Wong rejects Birmingham’s criticism, says US alliance ‘deep and strong’

Asked about her Liberal counterpart Simon Birmingham’s criticism of Anthony Albanese’s phone call with Julian Assange and his claims that the deal to release Assange has “damaged” the US-Australian alliance, Penny Wong says:

That’s not not correct and disappointing that Simon would go to the alliance. He would know that our relationship with the United States is deep and strong.

And that is why we were able to advocate in the way we did. And ultimately, the pathway to resolving this, … had to be through the resolution of the legal process.

Dr Yang remains a priority for our government. We continue to raise his case with the Chinese authorities at all appropriate levels and we will continue to do so. It was obviously raised, as you know, when Premier Li was here.

What I would say is today I am very pleased to see Mr Assange reunited with his family in Australia.

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Lift prices, find your niche or shut: Australian cafes face tough choices as inflation bites

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Hospitality outlets are being forced to evolve as cost-of-living pressures change the way cash-strapped consumers spend their money

The Sydney eatery John Montagu is known for its sandwiches.

The cafe in the harbourside suburb of Woolloomooloo has an avid following, especially among those who appreciate that it is named after the Earl of Sandwich, which may sound comical but is a bone fide noble title.

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Inflation rises to 4%, stoking concern interest rates could increase again

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The consumer price index increased to its highest level in 2024, indicating the Reserve Bank is unlikely to cut interest rates soon

Australia’s monthly inflation rate increased to its highest level in 2024 in the latest indication that the Reserve Bank won’t be cutting interest rates soon and might yet hike again.

Consumer prices rose 4% last month from a year earlier, the Australian Bureau of Statistics said on Wednesday. That compared with the 3.6% pace recorded for April, and the 3.8% rate expected for May by economists.

The jump in May’s inflation was propelled in part by automotive fuel prices, which were up 9.3% from a year earlier even as they retreated 5.1% during the month itself.

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Australia politics live: Julian Assange leaves Belmarsh prison after plea deal and will return to Australia, WikiLeaks says

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WikiLeaks X account has tweeted that ‘Julian Assange is free’. Follow today’s news headlines live

‘It’s just a lazy delay’

Bill Shorten says a further delay of the Senate vote on the NDIS bill won’t actually lead to any changes:

There’s no good reason on God’s green earth to have another eight weeks of review, which isn’t actually eight weeks.

There won’t be a whole lot of new submissions come in, there won’t be some brand new arguments not considered.

I’m horrified after 12 months of reviewing the NDIS and then another six months of discussing the review including [in] the last three a Senate committee having public hearings calling for submissions.

The opposition has used words never ever said before by them.

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Labor and Greens strike anti-vaping deal – as it happened

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David Pocock also spoke to the ABC about his private member’s bill that would see housing treated as a human right. He said it was needed because:

There’s no overarching national plan and this would legislate that these are the objectives, we want to see housing affordable, we want to reduce homelessness and then it would be up to the government to actually work out – how are we going to do that?

What are the policies that we think will address this?

One of my heroes Desmond Tutu used to say ‘don’t raise your voice, improve your argument’.

It’s pretty tragic the major parties tear the opposition down rather than improving their argument and making their plans stand on their own two feet.

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Families set to pocket more than $60 a week from stage-three tax cuts

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Treasury analysis shows ‘mums and dads’ will be among the biggest beneficiaries when 1 July cuts kick in, Jim Chalmers says

Australian families are set to pocket more than $60 a week when the government’s tax cuts kick in from July, according to new analysis from Treasury.

The federal budget’s cost-of-living measures will come into effect on 1 July, including the tax cuts and energy relief for all households and 1m small businesses.

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Shadow energy minister says system in ‘dire trouble’ – as it happened

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Australia needs more gas supply on east coast, Albanese says

Anthony Albanese is speaking to the ABC from Devonport.

We’ll work those issues through with Aemo.

We need more gas supply. We announced our future gas strategy a short while ago because we understand that we need more supply. Gas has an important role to play in manufacturing in particular. But also in providing firming capacity for the renewables rollout.

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Australia news live: Dutton announces Coalition’s nuclear policy and proposed sites, but no costs

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Sites named at Collie, Mt Piper, Callide, Tarong, Liddell, Northern energy in South Australia and Loy Yang. Follow the day’s news live

Sussan Ley says Coalition nuclear policy will be a ‘sensible proposition’

I just wanted to return to Sussan Ley’s appearance on Sky News this morning, where she was asked how a potential future Coalition nuclear policy would circumvent nuclear bans:

We’ll work through all that. We have a sensible proposition to put to the Australian people and I know that when we talk about nuclear people are starting to tune in, understanding that if 19 of the 20 biggest economies in the world are using nuclear, if it makes sense for cleaner baseload power, because it’s zero emissions, if it helps us get to 2050 net zero, if it does all of the things that we want it to do in terms of emissions, and in terms of securing affordable cheaper power for Australians … why would people not consider it? And I believe they will.

Now, the government says it’s renewables only. We can see that that’s actually not going to happen. The government talks about hydrogen, it’s not at scale. It’s not even something they can demonstrate works in that short timeframe and they talk about batteries that aren’t going to provide the storage for their renewables.

So, they are in a complete mess over this, and they need to be put on the sticky paper and asked what they are going to do for families, households and manufacturing businesses.

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RBA governor says inflation still above target; Matt Kean to retire from politics – as it happened

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Liberals criticise treatment of journalist by Chinese officials at press conference

Opposition foreign affairs spokesman Simon Birmingham has condemned the treatment of journalist Cheng Lei at federal parliament yesterday.

This was an entirely counterproductive and inappropriate act by Chinese officials that should have been called out by our prime minister and government officials.

It is a reminder that we have two very different systems, the Chinese system and the Australian system, different systems of government, of course as a democracy, different respect when it comes to media, to freedom of speech, but this visit is taking place in Australia.

It is concerning, I think a lot of this comes from so many Australians genuinely doing a tough at the moment, having to make really tough decisions, from telling their kids that they can no longer play basketball or be part of the scouts group because they can’t afford the … 500 bucks a year that costs, to other Australians who are deciding between going to see the GP or fulfilling a script and putting food on the table.

People are doing it tough and so when they hear politicians talk about these targets in the future … I think Peter Dutton use this to whip up fear.

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Chinese premier Li Qiang’s Australia visit overshadowed by officials’ apparent attempt to block Cheng Lei’s view at event

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The first visit to Australia by a Chinese premier in seven years was marked by anti-China groups protesting China’s disregard for human rights

The Australian government has rolled out the welcome mat as China’s premier, Li Qiang, visited Canberra, but his trip may have been overshadowed by an apparent attempt by Chinese officials to block the view of the formerly detained Australian journalist Cheng Lei during a signing ceremony.

The first trip to Australia by a Chinese premier in seven years is the most striking symbol yet of the easing of tensions in a previously turbulent relationship.

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