Category Archives: Australian economy

Know your rights: what to do if you receive a call from a debt collector

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As the cost-of-living crisis drives more people to financial stress, it helps to understand the rules that cover debt collecting

If you have ever received a call from a private debt collector, perhaps demanding payment for an overdue bill you barely remember, you will know that it can feel daunting and rife with potentially serious consequences.

The best way to protect yourself in such a situation, particularly with the cost-of-living crisis driving more and more Australians to financial stress, is to understand your rights and the rules governing the way debt collectors can behave.

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Use, or threaten to use, violence or physical force against a debtor.

Adopt an aggressive, threatening or intimidating manner.

Use abusive, offensive, obscene or discriminatory language.

Comment on a debtor’s position, physical appearance, intelligence or other characteristics or circumstances.

Embarrass or shame a debtor.

Make disrespectful or demeaning remarks about a debtor’s character or financial situation in life.

Mislead a debtor about the nature or extent of a debt, or the consequences of non-payment.

Pressure a debtor by misleading, harassing, threatening or putting pressure on a debtor’s spouse or partner, or a member of a debtor’s family.

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Dutton won’t rule out a Coalition government quitting ICC – as it happened

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Chris Bowen says nuclear energy is ‘slow, expensive and risky’

Chris Bowen is also asked about the latest CSIRO report released today, showing electricity from nuclear power in Australia would be at least 50% more expensive than solar and wind.

CSIRO and Aemo have looked at large-scale nuclear for the first time. It finds that that would be far more expensive than renewables, despite claims from the opposition – quite inappropriate attacks on CSIRO and Aemo from the opposition, that they hadn’t counted the cost of transmission. The cost of transmission and storage is counted, and still renewables comes out as the cheapest.

And of course, CSIRO points out that nuclear will be … very slow to build. So nuclear is slow and expensive and is risky when it comes to the reliability of Australia’s energy system.

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Australia news live: Telstra announces 2,800 job cuts; mediation talks in Reynolds and Higgins defamation case

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Liberal senator, and former political staffer expected to attempt again to resolve a pair of high-profile defamation cases. Follow today’s news headlines live

A High Court decision in Britain to allow Julian Assange to appeal his extradition to the US is a “small win” for the WikiLeaks founder but he should be freed now, the union for Australia’s journalists says.

As AAP reports, the Media, Entertainment & Arts Alliance remains concerned there is no certainty an appeal will be successful, which would mean Assange could still be tried for espionage in the US.

Tonight’s decision by the High Court is a small win for Julian Assange and for the cause of media freedom worldwide.

MEAA welcomes the decision of the High Court, but we remain concerned that there is no guarantee of success.

We call on the Australian government to keep up the pressure on the US to drop the charges so Julian Assange can be reunited with his family.

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Guardian Essential poll: $300 energy rebate shouldn’t go to high-income households, voters say

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Poll finds lukewarm response to Labor’s 2024 budget, with only 27% of people thinking it will make a ‘meaningful difference’ to the cost of living

A majority of voters approve of the main measures in Labor’s third budget, although three in five think the Albanese government’s $300 electricity bill rebate should have been better targeted.

Those are the results of the latest Guardian Essential poll of 1,149 voters, which found a lukewarm reaction to the budget overall, with just over a quarter (27%) saying it would make a “meaningful difference” to their cost of living.

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Why Guardian Australia is investigating the private debt collection industry

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When everyday Australians go to the wall, private debt collectors step in. In a cost-of-living crisis it’s vital to scrutinise the industry

More than half of all Australians have recently found themselves in some form of financial stress. Increasing numbers of people are facing energy poverty, food insecurity, delayed medical treatment and housing insecurity.

Calls to the National Debt Helpline have increased by 25% in the last financial year. When everyday Australians go to the wall, there is one sector that gets more business: the private debt collection industry.

Panthera Finance, Australia’s biggest privately owned debt collection business, has ignored a five-year “blacklisting” from the Victorian regulator and continued to purchase debts despite being warned that continuing to purchase and collect debts would be a criminal offence. The regulator has so far taken no action.

A former debt collector with 15 years’ experience in the industry says that some of the conduct he was involved in would “horrify” the general public. He claims he once issued a threat to seize the home of a rape victim whose husband had just died, and in another case dispatched an agent to a child’s school in a last-ditch effort to find a debtor.

Community legal services report debt collectors making false and misleading threats about a person’s credit rating to get them to pay and using underhanded tactics in order to extend the usual six-year time limit on collecting debts.

The Australian Financial Complaints Authority (Afca) says it has heard complaints of intimidating communication and of debt collection continuing while the authority is investigating, which is not permitted.

Afca also says complaints about debt collectors and buyers increased 9% last year, although specific complaints about inappropriate debt collection practices went down.

The industry peak body disputes the rise in complaints – it says its own data analysis shows steady reductions year-on-year since 2020, although this data does not include complaints that are resolved in their early stages prior to Afca involvement. The peak body claims less than 1% of complaints are substantiated to show any fault by the debt collector.

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Australian home lenders accused of ignoring mortgage customers in financial distress

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Some borrowers have been abandoned in a cost-of-living crisis and lenders must meet their obligations, the regulator says

Major Australian lenders are not doing enough to support mortgage customers in financial hardship, and in some cases they are ignoring requests for assistance altogether, the corporate regulator has found.

In a major report to be released on Monday, the Australian Securities and Investments Commission (Asic) found that more than one-in-three customers dropped out of a hardship application, a process designed to vary repayments while a borrower gets back on their feet, because of unnecessary barriers.

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Chalmers says Dutton’s budget reply lacks economic credibility – as it happened

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Shorten and Dutton clash over reduced migration

Earlier this morning the NDIS minister, Bill Shorten, and the opposition leader, Peter Dutton, clashed over Dutton’s promise to reduce Australia’s migration intake in his budget reply speech last night.

Well, Bill, a couple of points. One is that we say that, in the first year, 40,000 homes will be freed up. That includes the numbers who would be bidding at auctions this weekend against Australian citizens.

If the government had have adopted our policy over a five-year period, you would free up 325,000 homes. So the number of people who are foreign citizens, who are buying houses in our country is low, but nonetheless it contributes to an overall shortage of housing in our country.

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Australia politics live: Speaker urges no political fundraising in parliament as Coalition MPs sell tickets to Dutton budget reply events

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‘We don’t think production tax credits is way to go’: Angus Taylor on Future Made in Australia

Is the Coalition going to vote against the Future Made in Australia policy, which was fleshed out in the budget and includes tax credits (in 2028) for things like critical minerals mining and green hydrogen?

We haven’t seen the act. We don’t think production tax credits is the way to go in order to have a strong manufacturing sector.

It’s about getting those fundamentals right whether it be approvals, whether it be getting rid of red tape or making sure the construction costs are competitive with the rest of the world.

Oh, but it’s also a drop in the ocean, you know. What are we saying? It’s a Band-Aid on a bullet wound compared to the pain that mum and dads in Australia are actually feeling.

I can tell you, they’ve paid a lot more than $300 under Mr. Albanese for their electricity. For the life of me, though, what it does show is Mr Albanese, [and the government] they’ve got their priorities all wrong.

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Budget 2024 live updates: reaction and fallout from the Australia federal budget – latest news

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Treasurer grilled on inflation and migration after National Press Club address. Follow today’s news and 2024 federal budget reaction live

Jim Chalmers said the government didn’t create a new system for the energy payments (so everyone gets it) because it is done through the energy retailers, who don’t have people’s income data.

It’s not a cash payment paid directly to you – instead, it is paid through the energy sector, which takes money off your bill. In this case, $75 a quarter.

I don’t see it in political terms. I think primarily the motivation of this budget is to help people who are doing it tough. More help is on the way for people who are doing it tough via the tax system, via their energy bills and with rent assistance and cheaper medicines and in other ways as well. That’s our primary motivation.

Once you go beyond providing this to people on pensions and payments, you have to design a whole new system in order to create a new distinction. We are providing this energy bill relief to every household. We think that’s a good way to help things make things easier. Some of the other measures are more targeted.

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Future Made in Australia: what’s in the $23bn package meant to create a ‘renewable energy superpower’

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Jim Chalmers’ budget didn’t answer all the questions about what projects will be funded but there is a lot more clarity now

The federal government has been talking up its Future Made in Australia (FMIA) policy in recent months and more detail was revealed in Tuesday night’s budget.

Here’s what we know so far.

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How it began v how it’s going: 2024 budget shows limits of financial forecasting

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Australia’s financials have generally improved compared with forecasts made a year ago but there are threats to the country’s outlook lurking

Financial forecasting is difficult at the best of times, let alone during a period marked by persistent inflation against a backdrop of global economic unease.

But forecasts still provide a framework for governments to build their policy and spending plans around. Australia’s financials have generally improved compared with forecasts made a year ago but there are more than a few threats to the country’s outlook lurking.

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Federal budget 2024 live updates: energy bill rebate and rent assistance boost confirmed ahead of Australian treasurer Jim Chalmers’s budget speech tonight – latest news

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Treasurer will be able to boast back-to-back surpluses when he speaks at 7.30pm tonight. Follow live updates today

Nick McKim said he agrees with EY chief economist, Cherelle Murphy, who says that you can look after people without impacting inflation by taking the money you are spending on people who don’t need it, and redirecting it to people who do. (Therefore it is the same pool of money, but targeted differently.)

McKim:

For example, you could end the massive tax breaks for property investors who own multiple investment properties then put in place a rent freeze and a rent cap, for example.

You could tax billionaires and CEOs on the basis of their wealth and you could use that revenue to raise income support, which would lift a large number of Australians out of the grinding poverty that they experience every day.

No, certainly not. I mean, what the surplus shows is that they’re prioritising their own political benefit over investing in the kind of programs that would provide genuine help to people who are really doing it tough at the moment.

So what you’re going to see in the budget tonight is that having talked up an absolute storm on things like climate change and on things like cost of living, Labor is simply not prepared to take the action necessary to respond to those challenges that the urgency and the scale that is required.

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PM promises ‘Labor party budget through and through’ – as it happened

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More details on government’s plan to cap international student numbers

The government has released a little more information on its plan to cap international students in a bid to ease housing shortages and clamp down on sub-standard education providers and agents. It will introduce legislation next week which will:

Prevent education providers from owning education agent businesses.

Pause applications for registration from new international education providers and of new courses from existing providers for periods of up to 12 months.

Require new providers seeking registration to demonstrate a track record of quality education delivery to domestic students before they are allowed to recruit international students.

Cancel dormant provider registrations to prevent them being used as a market entry tool by unscrupulous actors.

Prevent providers under serious regulatory investigation from recruiting new international students.

Improve the sharing of data relating to education agents.

[The Coalition will announce its] energy policy not at the time of the media’s choosing or at a time of the government’s choosing but a time of the Coalition’s choosing.

But it will be very clear in advance of the next election the way we want to go about opening up a new energy source for Australia. That will deliver emissions free energy and lower energy prices by increasing the mix of types of energy over the long term.

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US and China need ‘climate armistice’ to meet net zero, says former head of CSIRO

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‘Climate change is a global problem. It needs that global level of collaboration,’ says Larry Marshall

The world needs a “climate armistice” between the US and China if net zero emissions are to be reached while Australia should hone its efforts on a few key areas where it has an unusual competitive edge, Larry Marshall, the former CSIRO chief executive, said.

Speaking ahead of Tuesday’s budget in which the Albanese government’s Future Made In Australia (FMIA) plans will probably be prominent, Marshall said the nation ought to focus any industrial support on sectors such as processing of lithium or vanadium or products that realistically scale up.

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Jim Chalmers flags cost of living help for job seekers in federal budget

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‘There is more than one way to help people who are on income support,’ treasurer says when suggesting rebates and concessions could be boosted

The federal government is poised to expand rebates and concessions available to job seekers in next week’s federal budget, which is also expected to increase rent assistance.

The treasurer, Jim Chalmers, has confirmed that Tuesday’s budget will not increase the jobseeker payment but suggested it would boost concessions linked to social security payments, among a suite of measures designed to offer cost-of-living relief without pushing up inflation.

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Greens senator applies for court case against One Nation leader to be re-opened – As it happened

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Government’s promised ‘future gas strategy’ will argue the fossil fuel is important part of transition to net zero emissions. This blog is now closed

NSW’s arts minister, John Graham, says a Sydney council has sent a “terrible message” by voting to ban same-sex parenting books, importing a “US culture war into our country”.

In case you missed it: Cumberland city council voted to place a blanket ban on same-sex parenting books from local libraries. Labor councillor Mohamad Hussein voted in favour of the motion, which passed six to five.

That’s a good thing. I think it’s a chance for the council to reconsider.

It’s a terrible message to send, to have this councillor importing this US culture war into our country and playing it out on the shelves of the local library. I think the community expectations are clear – the local councillors should be coming around to pick up their bin, not telling them what to read.

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Budget sneak-peek predicts higher wages and tax breaks – but no increase for Australians on jobseeker

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Government dampens hopes for an increase to jobseeker, despite pressure from economists, social justice groups and equality advocates

Australians are forecast to have more disposable income next year, according to budget predictions, with higher wages, tax cuts and lowering inflation.

But those on unemployment payments are unlikely to see any major change to their financial situations, with the government dampening expectations the base jobseeker rate will increase, despite growing pressure from economists, social justice groups and equality advocates.

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Australia news live: Michele Bullock says data ‘pretty bumpy’ but RBA vigilant about continued high inflation risk

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The opposition leader, Peter Dutton, says the prime minister needs to “pick the phone up” and speak directly to the Chinese president, Xi Jinping, after the Australian government accused a Chinese fighter jet of dropping flares close to an Australian helicopter in international waters.

The defence minister, Richard Marles, yesterday branded the incident as “unacceptable” and said the Australian pilot had to take evasive action to avoid the flares. You can read all the details below:

I think the prime minister needs to pick the phone up, frankly, and speak to the Chinese president … and express our deep concern, because at some stage, there’s going to be a miscalculation and an Australian defence force member is going to lose their life.

And that is a tragic circumstance that has to be avoided at all costs, but there will be a miscalculation by somebody who’s flying that jet or somebody who’s on the deck of a Chinese naval ship, something will happen.

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Bonza urged to pay April wages; data breach exposes family violence, sexual assault data – as it happened

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PM responds to reports regional women camping out, sleeping in cars

Anthony Albanese has commented on reports that carparks in regional areas are being opened for women to sleep in tents or their cars.

We have allocated funding through our Housing Australia Future Fund for emergency accommodation for women and children escaping domestic violence. I will be in discussions with the states and territories as well about what more can be done.

We know that the circumstances where a woman is escaping a violent situation [and] has to sleep in her car or surf on a couch of a friend and rotate around, we hear stories about that as well, is unacceptable in 2024. We need to do better. There’s no question about that.

We need to look at bail laws. More importantly, we actually need to look at how we can keep women, or victims and children in the home environment and force the perpetrator to leave. We have a program in NSW called the Staying Home: Leave Violence program. There are over 138 LGAs in this state at the moment, only 91 have access to that program, even though we know it is incredibly effective. We need programs like that funded immediately, not just across NSW but across the country.

I am optimistic about who we are as a country and our capacity to take responsibility for ourselves. The time of us to do this is now. We don’t have three months, which is what the government is suggesting, to wait and see what happens next. By then another 23 women will have lost their lives.

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Bonza fleet’s grounding extended – as it happened

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Prime minister says trial ongoing into funding for women escaping violence

The prime minister, Anthony Albanese, is speaking to ABC RN about yesterday’s announcements after national cabinet.

Well, there is already a trial going ahead. We want to make sure that the processes are in place [so] that they will begin within the next financial year as a permanent program, not just offering financial support, but as well as offering support for referral services, risk assessments, safety planning, and other support …

This isn’t something that you solve with a meeting on one day. This is something that governments are determined to take action on. For some of us this is deeply personal, for others, it is incredibly important.

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