Category Archives: Australian economy

Covid quarantine centre to reopen for flood evacuees – as it happened

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Daniel Andrews says 500 homes have been flooded and another 500 have been isolated. This blog is now closed

An estimated 500 homes are flooded in Victoria with number expected to grow: Daniel Andrews

Victoria’s premier, Daniel Andrews, has been on ABC radio Melbourne this morning, providing listeners with an update on the floods.

Obviously this has been a very, very significant flood event and it’s far from over. There’s a little bit more rainfall but as that weather event passes through, the real challenge is waters continuing to rise and more and more houses being inundated, more and more communities being closed off, becoming isolated, then of course we move to clean up and all of those issues.

We think there’s about 500 homes that are flooded, we think there are another 500 that have been isolated across the state. But I would just say they’re very early estimates and the aerial intelligence gathering choppers are up in the air now ... they’ll be doing all their reports back to the state control centre. So I’d say those numbers are absolutely certain to grow. And indeed, we’re still asking people to leave in some areas. There have been important, important evacuation notices have been issued in a number of communities. So those numbers will go up. That’s why we’ve got nine important relief centres opening and 50 sandbag collection points. There’s an enormous amount of work going on.

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Lidia Thorpe to lodge press council complaint over voice report; attorney general says pursuit of Assange has ‘gone on long enough’ – as it happened

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Mark Dreyfus says most anti-corruption hearings will be private and only public in exceptional circumstances. This blog is now closed

US security expert says chances of Putin using nuclear weapon are “small”

During his visit to Canberra, the chief executive of the Washington-based thinktank the Center for a New American Security, Richard Fontaine, weighed in on the US president, Joe Biden’s recent comments that the world could face “Armageddon” if Russia’s Vladimir Putin uses a tactical nuclear weapon to try to win the war in Ukraine.

I seriously doubt that anybody handed the president a set of written talking points that had the word Armageddon on it. On the other hand, there is very grave concern about the rattling of the nuclear sabre, because the chances, I think, of Russia using even a tactical nuclear weapon are small, but they’re higher than they were. And they’re probably higher than any time since 1962 with the [Cuban] missile crisis.

The use of nuclear weapons is one of these low probability, extremely high consequence events. So even if the probability is relatively small, the consequences would be so grave. If they were to do this, we would wake up in a different world the next day.

Yes, absolutely. Every country really has a dog in this fight, because what we’re talking about here is a violation of the fundamental rules of international order, the cardinal element of which is the prohibition against territorial conquest by force. And that’s exactly what we’re seeing here.

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Almost 200,000 robodebt cases to be wiped as Albanese government condemns ‘shameful’ scheme

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Amanda Rishworth cites need for a welfare system that is ‘not punitive’ as she confirms reviews will be scrapped

Nearly 200,000 Australians will have their robodebt reviews wiped as the federal government scraps investigations that were put on hold for three years under the unlawful welfare scheme.

About 124,000 people were told they were under review for social security payments they had received, while 73,000 were never informed they were being assessed for potential debts under the data-matching program.

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Man shot dead by police in Brisbane – as it happened

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Queensland police say officers had been called to Edmonstone Street in South Brisbane around 3pm. This blog is now closed

Treasurer says surging electricity costs will make inflation ‘hang around longer’

We brought you the grim news on the blog yesterday that the head of Alinta energy has predicated a 35% increase to retail electricity bills next year, as energy providers juggle phasing out fossil fuels alongside investment in renewables.

I think one of the reasons this inflation will hang around longer than we want it to is because there are expectations around these electricity price rises being more problematic for longer.

You’ve said the government would put the economy above politics, can you really say that’s what you doing if you leave the stage-three tax cuts in place as they are?

I can say that, and I think what people will see in the budget in two weeks’ time is some difficult decisions in difficult times.

Our job is to make sure that our budgets are perfectly calibrated to the economic conditions as we confront them.

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NSW stamp duty overhaul ‘vanilla’ but could help first home buyers cut costs

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Annual tax could be paid for almost 20 years before it equalled the value of a stamp duty payment in parts of western Sydney, calculator suggests

First home buyers could save tens of thousands of dollars under the New South Wales government’s proposal for an optional land tax but housing experts say the “vanilla” plan falls well short of the “revolution” it had initially promised.

On Monday the government said it would introduce its plans for an overhaul of stamp duty into the state’s parliament this week.

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Australia news live: increased risk of floods, tropical cyclones and heatwaves, long-range forecast warns

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The Bureau of Meteorology has released its long-range forecast for Australia’s coming severe weather season. Follow all the day’s news live

‘It’s time to move on now’: Tanya Plibersek on Andrew Thorburn saga

On Sunrise, environment minister Tanya Plibersek was asked about a war of words between Victoria premier Daniel Andrews and Andrew Thorburn, the would-be CEO of Essendon who resigned following criticism about his role as chairman of City on a Hill.

When it comes to rampant homophobia, when I lead the pride march every year, I do that with a sense of genuine concern, support and commitment.

I think the important thing here is that the fellow in question has resigned from the position, it really is a matter for the football club. It seems like they are moving on from a national perspective, the government is committed to making sure that we introduce religious discrimination laws, as we said we would. I think it’s time to move on now.

I think that his personal views should be separated from the overarching views of the church that he is involved with … I’m in the Catholic Church, it doesn’t mean I believe in every tenet of the Catholic Church. This is completely out of order and Mr Thorburn should get his job back. The whole thing looks like a total mess.

I think you always look back and think I could have done this or not. I tried to do as much as I could as prime minister in the sense that every day was precious, every day we were trying to drive big reforms forward. On sexism and misogyny I specifically regret not calling it out earlier.

I had thought when I first became prime minister that the maximum reaction to me being the first woman would be in the early days and it would wash away … I was clearly wrong on that. Knowing what I know now it was going to gather and get worse. Potentially if I called it out earlier it could have been a bit easier. You never get to run the control test in politics.

I think things have changed, I think it’s impossible to imagine a prominent woman in Australian politics would be called the things I was without it having huge negative consequences today … but we’ve still got a way to go.

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Extinction Rebellion protesters glue hands to prized Picasso – as it happened

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Dutton on his answer to filling the gap should stage-three tax cuts go through

Dutton:

If you look at even post lockdowns on a month by month basis, you can see months where we’ve gone back into surplus, so the settings we have in government, our instinct as Liberals, as a Coalition when it comes to budget management are vindicated.

When you look at where we are with a 50-year low unemployment, when you look at the strength of the underlying indicators here in Australia, that is a very significant contrast to where the UK or US budget is, and this government inherited a very strong position after nine years of Coalition management.

David, we went to the last election with a promise and I’m not in the business of breaking promises. The prime minister can contemplate it. He looked the Australian public in the eye and it seems he wasn’t so genuine and that he was prepared to make that statement.

I want to see the prime minister honour his commitment and not lie to the Australian people.

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Albanese urged not to ‘lose the moment’ for tax reform as he squashes debate on stage-three cuts

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Economists say the tax cuts are unaffordable and should be trimmed or changed, either now or in May

Economists have urged the federal government not to squander the chance for tax reform, after the prime minister hosed down speculation about possible changes to the legislated stage-three cuts in this month’s budget.

The chief executive of the Grattan Institute, Danielle Wood, said she would be “sad” if “we lost the moment” for a substantial discussion about tax changes and hoped a broader debate was still possible before the next budget in May.

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Gig workers to get rights to workers comp under NSW Labor election promise

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Gig, disability and home care workers would also gain access to a portable entitlement scheme

Uber delivery drivers and casual employees will be able to claim compensation if injured at work and take entitlements from job to job if Labor wins the New South Wales election.

New entitlements would make gig workers more resilient and make the labour environment less precarious in general, the state opposition said on Sunday.

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Growing number of Australians want the stage-three tax cuts scrapped, poll shows

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Public opinion for repealing the package jumped 7% from the previous month as people become better informed about the consequences

Public support for the stage-three tax cuts continues to fall, with polling showing increased support for scrapping the $243bn plan.

The last stage of the Morrison government tax reform is not legislated to come into effect until July 2024, but a downturn in the economy has put increased pressure on the Labor government to make a decision on whether it will keep the cuts in place.

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Dominic Perrottet urges people in NSW to stay out of flood water – as it happened

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Trough tracking over NSW towards the coast is bringing intense rainfall and the risk of flash flooding, Bureau of Meteorology says. This blog is now closed

Storey warned despite blue skies in some areas this morning, heavy rain will set in from the afternoon through to tomorrow.

That heavy rain coming on top of saturated soils and catchments and dams that are already full and overflowing [we] can really see that flooding risk escalate really, really quickly. Not only riverine flooding risk, which we’re monitoring closely, but that flash flooding risk, in particular. A lot of roads may see flash flooding affecting them very, very quickly and catching people unawares.

There is definitely a flood fatigue situation across many, many parts of the state. And in particular in the west and the south of the state as well, who have been experiencing major flooding now for what feels like the best part of a year. Many areas in the west and south are still subject to major flooding as we speak, and with the heavy rains continuing in those areas in the coming days, that’s going to exacerbate that risk.

Unfortunately, the bureau’s forecasting an above-average rainfall storm and flood season, so we’re probably gonna see many more events like this over the coming months.

With the expected heavy rainfall impacting the Hunter, Greater Sydney, and Illawarra over the next sort of 24 hours, so our key focus is on that flash flooding risk in those areas.

If you are in those affected areas or travelling through those affected areas, monitor those conditions and never drive through floodwaters. A lot of roads are already flooded in many parts of the state and will be flooded in the coming 24 hours. So, make those smart decisions for yourselves and your families. And the smartest decision you can make is to never drive through those floodwaters.

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Albanese meets Solomons PM – as it happened

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Anthony Albanese meets with Solomons Islands PM Manasseh Sogavare, who reiterates ‘no foreign military bases’ pledge. This blog is now closed

Skill shortages ‘an indictment on the failure to plan’: skills minister

The National Skills Commission’s annual update of the skills priority list is out today, showing the number of occupations facing skills shortages have almost doubled in past year.

Well, I wouldn’t say exactly that. I would say, though, it is very high that we have so many occupations where there are significant shortages.

I mean, the fact that it almost doubled in a year speaks to a labour market that is crying out for skills. But also, it is an indictment on the failure to plan, invest in education and training to have the skills our labour market, our economy and our employers need and our workforce need so that they can find good jobs.

We do need to make sure, 1) the investment in education and training is in the right places so that we supply the skills needed for our economy now and into the future. And, of course, 2) we need to have a much faster way of delivering on the skilled migration pathways for industries that are crying out for skills. And whether they be nurses or tech worker, baggage handlers. Wherever you look across the economy, there are shortages and it is a very significant priority of this government.

Conditions haven’t changed that significantly.

The government went to the last election saying again and again they would honour the legislated tax cuts.

In the time since we’ve seen in Australia interest rate rises yes ... but we’ve seen an Australian economy that continues to perform very strongly.

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Australia news live: flood warnings issued as east coast braces for heavy rain and storms

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Kieren Perkins has backed diversity in sport at the national press club and Manasseh Sogavare, the PM of Solomon Islands, is due to arrive in Australia this afternoon on a flight from Singapore. Follow the day’s news live

Fire extinguished in Sydney shopping centre

Maria Kovacic elected NSW Liberals president

The election next March will be hard fought.

Our party will be talking directly to our community, including western Sydney and the regions, about how the Perrottet Government can improve their lives and help their families.

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Banks raise interest rates in response to RBA – as it happened

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Australian dollar drops and shares bounce higher on reserve bank’s dovish move. This blog is now closed

Sexual violence rife on dating apps

Dating apps need to better protect their users after a study revealed high rates of sexual violence, stalking, assault and unwanted sharing of explicit images, AAP reports.

This is highly concerning given the significant and potentially long-term impacts associated with these victimisation experiences.

These impacts include poorer health and wellbeing, including overall life satisfaction, social isolation and lower self-esteem, as well as increased risk of re-victimisation.

Considering the long- and short-term implications for victim-survivors after experiencing these harmful behaviours, there is an obvious need to develop mechanisms for protecting users.

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Richard Marles meets Nauru’s new president – as it happened

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Optus not forthcoming on breach, Tanya Plibersek says

A federal minister has slammed Optus for not being forthcoming with either customers or the government more than a week on from the cyber attack, AAP reports.

One of the real problems is the lack of communication by Optus, both with its customers and the government.

I don’t think the company is doing a particularly good job with its customers or providing the government with the information we need to keep people safe.

Those in the know say it wasn’t a very sophisticated way to get into the Optus information.

Why can’t they protect your privacy and get back to people and say we have a real problem here and be careful?

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Property prices dropped further in September and falls ‘could accelerate’ again with rate rise

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Investors and banks predict RBA will raise cash rate further on Tuesday, while rent increases begin to slow around Australia

Australia’s property prices fell another 1.4% in September as the cost of borrowing increased, and another interest rate rise is likely after Tuesday’s Reserve Bank meeting.

Last month’s drop in CoreLogic’s home value index was less than the 1.6% fall in August but the pace of declines could quicken again if the RBA’s key interest rate keeps rising, said Tim Lawless, the data group’s research director.

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Majority of Australians back sound economic management over keeping promised tax cuts, survey suggests

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Almost half of those polled support axing stage three cuts while one quarter thought they should be kept

Support for the stage three tax cuts remains low with the majority of Australians backing sound economic management over sticking to election promises, a new survey suggests.

The research from the Australia Institute found that high-income earners were particularly likely to support the repeal of the stage three tax cuts, despite being the main beneficiaries of the changes.

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News live: Australia supports inquiry into Iran death, Wong says; first majority female high court bench

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Attorney general Mark Dreyfus has announced the appointment of justice Jayne Jagot to the high court. Follow the day’s news live

Queensland seeking partnerships from the federal government in renewable plan

The Queensland premier, Annastacia Palaszczuk, was asked to clarify how long the state will keep exporting coal for:

There’s still going to be countries that need our coal and, of course, the metallurgical coal [that] is needed for steel production. Let’s be clear about that. Until there’s alternative to manufacturing steel, the world will still need metallurgical coal.

The plan is $62bn. We have a $6bn down payment on that … we’ve already got $11bn worth of private investment coming in.

But there will be even more coming in as well. So roughly, it will be around, over $30bn, between $30bn and $40bn we’re providing, but we’re seeking partnerships from the federal government.

Well, in Europe, of course, there’s a lot of reliance on gas coming in from the Ukraine and parts of Russia, is my understanding.

But what we’re doing here very clearly is [ensuring] that the hydro dams get built. And then, as the hydro dams come online, that’s when you start phasing down the reliance on coal-fired power stations.

We’re building sea walls as we speak. People are having to build their houses on 7-to-12-foot stilts above the ground because of the water coming underneath. Ancestral graves that the ABC has reported on are being washed away. This is happening in Queensland. It’s not just an island on the Pacific ocean. It is happening to Queenslanders. To Australians. And we all have a duty to look after one another.

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Australia news live: government asks Optus to pay for new passports after data breach; severe thunderstorm warning for Sydney

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Prime minister says Labor believes ‘Optus should pay, not taxpayers’ after customer data compromised. Follow the day’s news

Election wash-up

As we reported yesterday, the AEC will be appearing at the electoral matters parliamentary committee hearing this morning.

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Clare O’Neil suggests Labor may legislate fines after Optus data breach – as it happened

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The Nationals want to get back to their roots – the regions.

The country party are launching a “regional listening tour” to find out what is affecting people in the country.

Migration is not the only solution to the challenges our regions are up against,” Littleproud said.

We need to look at what can be done now to help those Australians that are already in town.

We know distance is one of the greatest barriers to opportunity. So we’re coming to your town to create this opportunity to share your concerns and help us come up with the solutions.

For example, would a Regional University Centre stop our children from leaving town? Or could paying their HELP debts be the incentive they need to stay where we need them?

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