Category Archives: Australian economy

Australia news live updates: Perrottet urged to work with union over NSW train dispute; international border reopens; 17 Covid deaths

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Perrottet urged to work with union over NSW train dispute; Peter Dutton says all signs on Ukraine ‘pointing in one direction’; at least 17 Covid-related deaths; Australia’s international border reopen for the first time in nearly two years. Follow the latest updates live

AGL Energy has rejected a takeover bid by tech billionaire Mike Cannon-Brookes and Canadian asset management giant Brookfield, saying the preliminary offer “materially undervalues the company”.

Brookfield and Cannon-Brookes’ Grok Ventures made the extraordinary offer to take over Australia’s most polluting company on Saturday, with a goal to shut its coal power plants earlier than planned.

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Lower house sits late to continue religious discrimination bill debate – as it happened

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Debate over religious discrimination bill to continue as House of Representatives agrees to sit late; Brittany Higgins calls for Jenkins review to be implemented; nation records at least 68 deaths from Covid – follow all the day’s news

The Coalition has been sitting on a major report into the state of the care workforce in Australia since September last year, Sarah Martin reports. The report “set out to examine the needs of the care and support workforce for aged, disability, veteran and mental health care”:

I mentioned the Health Services Union’s survey earlier, in the context of the opposition hoping to wound the government over the aged care crisis.

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Albanese demands Colbeck ‘resign today’ as nation records 82 Covid deaths – as it happened

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Albanese says aged care services minister ‘must resign today’; CMO says ‘we are past the peak’ of Omicron as nation records at least 82 Covid-19 deaths, with dozens of cases in ICU; bushfire emergency warning issued for East Rockingham. This blog is now closed

Speaking of the ongoing Covid aged care crisis, health and aged care minister Greg Hunt is defending the government’s handling of the situation, telling ABC radio that 99% of aged care workers are now double-vaccinated:

We have over 99% vaccination rate amongst aged care workers, one of the highest rates in the world; 91% vaccination rate for residents. We’ve been able to have one of the lowest rates of loss of life in aged care in the world ...

But it is immensely hard for so many. The mental health impacts of people being locked down in aged care, which is a protective mechanism for them, but at the same time it has a huge impact on their quality of life.

If they can’t endorse [federal environment minister Sussan Ley] they should get out of the way and let the federal executive ensure we can get things done.

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What’s the price of a loaf of bread? A whole lot of political trouble

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Scott Morrison this week admitted he didn’t know how much staples cost. Given similar questions have undone other politicians perhaps he was wise not to take a stab

Australians have been talking about foodstuffs this week after the prime minister was unable to nominate the price of a loaf of bread when quizzed during his National Press Club appearance.

A Sky News journalist on Tuesday asked Scott Morrison if he had “lost touch with ordinary Australians”. Could the PM, for instance, name the price of “a loaf of bread, a litre of petrol and a rapid antigen test?” Morrison stated that he “wasn’t going to pretend to you that I go out each day and I buy a loaf of bread and I buy a litre of milk”.

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Australia news live updates: Morrison’s jobs goal prompts reaction while handling of Covid in aged care under scrutiny

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ACTU’s Sally McManus says PM’s plan to lower unemployment rates doesn’t necessarily mean better pay or security – follow all the day’s news

Morrison is asked about the question he was unable to answer yesterday - the cost of basics like bread and petrol and, in this day and age, rapid antigen tests. Morrison says he “didn’t hear” the question about RATs.

To be honest, I heard bread and milk on the question yesterday, it was a pretty robust and torrid time at the press club yesterday, I must admit I didn’t hear the question about rats, that’s the honest truth. Didn’t hear it. It’s about $15-$20 and they can be less than that ... if it gets above that they will be coming after those who are price gouging, so to be honest I didn’t hear that part of the question, I heard bread and milk and for the record, it depends which bread.

Little milk comes from a cow anymore, there are so many different things that people have available but if it’s two, three bucks, you can get petrol from $1.60 to $1.80. That’s what it is. It’s one of those old things they do with the press club to make a bit of a headline.

No, I haven’t had the opportunity to do that but I appreciate what Gladys said yesterday in our own dealings with each other ... I think we work very positively and I think we work very well together as a premier and PM to do very great things from New South Wales in particular ... I can’t speak to the other things that are all anonymous and she doesn’t recollect it but it’s certainly not a conversation we have ever had.

People say nasty things about the prime minister all the time, they say nasty things about people in the media – just switch on social media. You will get yourself quite a giggle and I get one all the time. It goes with the job.

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Australia’s leading economists expect Reserve Bank to hold interest rates low in 2022 | Peter Martin

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Analysis: A panel of forecasters are predicting weaker economic growth and a fall in real wages

Australia’s leading forecasters expect the Reserve Bank to resist pressure to increase interest rates all year, despite rising interest rates overseas, much higher inflation, plunging unemployment and financial market traders pricing in two hikes in the next six months.

The 24-person forecasting panel assembled by the Conversation also predicts weaker economic growth, much lower housing price growth, next to no growth in the Australian share market, little or no further inroads into unemployment and wage growth so weak that real wages go backwards.

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NT chief minister says Omicron ‘too infectious’ for lockdowns to work as nation records at least 88 Covid deaths – As it happened

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Michael Gunner says lockdowns and lockouts no longer effective; At least 88 Covid deaths recorded around the country as Kerry Chant says Omicron sub-variant is circulating in NSW; Queensland reveals back-to-school plan. This blog is now closed

Albanese says Labor will boost aged-care funding, but cannot specify by how much.

There has been a boost.

Two things they haven’t done: One is to tie that funding of actual delivery of better healthcare for aged-care residents in terms of some of the regulatory measures required that were recommended by the royal commission, but the big missing piece in this workforce, we still don’t have a commitment to have a nurse in a nursing home.

We still don’t have a commitment to increase in the number of other care workers in aged care, and we still don’t have a commitment to increases in wages and conditions so that aged-care facilities are able to attract the staff.

Quite clearly there will be a need for increased health funding, but there is a need also to look at the particular areas of funding.

GPs, for example. One of the reasons there is so much pressure on the hospitals is we have GP shortages in terms of training, we have GP shortages in terms of some of the changes that they’ve made to the Medicare schedule that have had an impact in our regions.

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No decision on ‘fully vaccinated’ definition as at least 72 Covid deaths recorded – as it happened

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Atagi still considering whether to change vaccination advice; nation records at least 72 Covid deaths with 13 in SA including reconciled data of death notifications from past fortnight; Central Land Council calls for central NT lockdown. This blog is now closed

Back to the EU ambassador, and he has confirmed the European Union would respond if Russian troops crossed the Ukrainian border.

Nurses and midwives at Sydney’s Liverpool hospital are striking today, demanding the government take action to address the staffing crisis impacting health care across the state.

Some of them are in tears here this morning, just come off a night shift. They are caring for, sometimes, one nurse for eight to 10 people and Covid has made their situation so harrowing.

Our hospital system really is at a breaking point and they are asking for ... fair, safe staffing levels here in our hospitals. Here in south-western Sydney, these nurses saw the brunt of the Delta outbreak, a failure of national quarantine, a failure of the vaccine rollout, and now they are seeing with Omicron the failure of the rapid antigen testing.

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Australia news live update: PM asked about double standard on Djokovic anti-vax concerns; 23 Covid deaths in Victoria, NSW as hospital cases rise

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Victoria reports 22,429 new Covid cases, six deaths and 1,229 people in hospital; NSW records 29,504 cases and 17 deaths, with 2,776 people in hospital; Scott Morrison discusses Novak Djokovic deportation; Australian surveillance flight to assess Tonga tsunami damage delayed; unions meet over workforce and supply chain shortages. Follow all the day’s news

Prime minister Scott Morrison has appeared on 2GB this morning, confirming Djokovic didn’t comply with entry requirements ... but that is not why his visa was cancelled.

Australia has very clear rules and Australians have been following those rules ... we apply our rules equally in this country and there was a very clear message sent – he wanted to come, he wasn’t vaccinated, well you’ve got to have a valid medical exemption and neither of those were in place. People make their own choices, and those choices meant you couldn’t come here and play tennis.

The idea someone could come and not follow those rules just was not on ... he was wrong, simple as that ... we didn’t give him an exemption, the federal government gave him no such exemption.

And that is that Mr Djokovic would be asked to leave, it is in the remit of the minister to do that, the judges reviewed the process and found the process the minister followed was legal. But to be quite frank, I am on the same page as Mr Djokovic. We’ll move on. And the things I will move on to are making sure to keep food on the shelves of supermarkets as ... people have been interested in the story, it’s been a ... soap opera. But now people are going to focus on the tennis, watch the tennis and also focus on looking after them and one of the big issues right now is making sure we keep food on the shelves at the grocery store.

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‘We’re struggling’: Covid surge spoils summer for Australia’s hospitality and tourism businesses

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Staff shortages and a drop in customers dampen peak season as Covid cases skyrocket and testing regimes struggle

For Phil Johnson, the licensee of Aireys Pub, keeping the hotel open seven days a week at what should be peak season has instead become a “day-by-day proposition”.

During summer the hotel’s lawn, which boasts spectacular views of the sea and sunset, is usually packed with holidaymakers who have flocked to the Victorian surf coast town of Aireys Inlet to escape Melbourne’s heat.

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Australia news live update: NSW Covid hospitalisations rise to 1,204; record high new cases in Victoria and Qld; Coalition rules out free RATs

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NSW records 20,794 new Covid cases and Victoria 8,577, with seven deaths across both states; Queensland reports 4,249 cases, ACT 514 and Tasmania 466; Scott Morrison says health systems well equipped as Covid hospitalisations across the country rise; Greg Hunt says more RATs on the way as double-dose vaccination rate hits 91.5%; Josh Frydenberg grilled over rapid antigen tests. Follow all the day’s news

Researchers in Antarctica are dealing with an outbreak of coronavirus despite being based in one of the world’s most remote regions.

Since 16 December at least 16 of the 25 polar researchers based at Belgium’s Princess Elisabeth Polar Station are now infected with the virus.

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Australians fired for refusing Covid vaccine search social media for ‘welcoming’ employers

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People turn to Telegram and Facebook to find jobs as mandates bite

Unvaccinated Australians who have lost their jobs for refusing to comply with Covid vaccine mandates are using social media to find and share employment opportunities at workplaces where the new rules are not being enforced.

Telegram and Facebook have had an influx of people searching for paid jobs after states and territories implemented mandates covering a range of industries from health and aged care workers, teachers and police to construction and hospitality workers.

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Borrowers rush to lock in low interest rates amid expectations of RBA rise

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Rising house prices and a resurgent economy could nudge the Reserve Bank to raise rates for first time in 11 years

Borrowers are rushing to lock in low interest rates amid gathering expectations Australia’s central bank will declare an end to its record low cash rate earlier than its current prediction of 2024.

Economists say the Reserve Bank of Australia has little choice but to revise its rate rise timing given mounting evidence the economy is recovering quickly from the lengthy Covid-triggered lockdowns in NSW, Victoria and the ACT.

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‘Incredibly worried’: end of Covid disaster payment looms for many still out of work

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At 80% vaccination the support will be gone. Some will be hit hard, particularly if Australia’s economy doesn’t bounce back strongly

It’s the lifeline that’s kept nearly 2 million people in New South Wales, Victoria and the ACT on a steady weekly income during Covid lockdowns.

Since June, the government’s Covid-19 disaster payments – paid at either $750 or $450 a week, or $200 a week for existing welfare recipients – have been available to people who lost work due to stay-at-home restrictions.

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Australia Covid live updates: Victoria records 183 new cases as NSW rushes to vaccinate essential workers

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Essential workers over the age of 16 who live in local government areas of concern won’t be allowed to leave their LGA from Monday unless they have had at least one dose of a Covid vaccine. Follow latest updates

Independent federal senator, Rex Patrick, appears to have tweeted an ultimatum to the government: be transparent about the profitable corporations that wrongly pocketed jobkeeper, or he will withdraw support for the government’s changes to the EPBC Act.

The government needs Patrick’s vote in the Senate to pass the legislation.

I’m done with ‘em. @ScottMorrisonMP gifting hard earned taxpayer money to his business mates & donors makes him the most shameless & unethical PM ever. @JoshFrydenberg’s JK prudential failure makes him the most incompetent Treasurer ever. EPBC discussions over @sussanley! #auspol pic.twitter.com/rMctoje7Xy

Finally, Speers asked Robert why the government won’t, at least, publish a list for taxpayers of “where the money went and let the firms decide whether to pay it back”?

But Robert argued that that would interfere with the privacy of these companies.

The transparency if you like, or what pertained in the Senate which was a demand for all the records of so many Australian companies, and vast majority of them being small to medium enterprises under tax law, that would substantially invade the privacy and would substantially make a huge step in the wrong direction as to how we manage the privacy of all of those individuals and all of those companies, David. It would be a massive retrograde step in how we do things.

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Covid Australia live news update: greater Sydney lockdown extended until end of September; NSW announces 642 cases, four deaths; Victoria records 55 cases

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ACT chief minister Andrew Barr calls on colleagues to stop presenting 70% or 80% vaccination targets as ‘freedom day’ ahead of meeting. Follow latest updates

Berejiklian:

I also want to stress that from Monday midnight, unless you’re exercising masks should be worn outdoors everywhere across New South Wales.

Our concern is that when people are walking past a group of people or accidentally bumping into people that, that can cause that fleeting contact can cause transmission, and even when you’re exercising, you need to have the mask unless you’re doing some strenuous exercise.

Berejiklian:

So from Monday at midnight, the greater Sydney lockdown will extend until the end of September... but I also want to state that the Central Coast and Shell Harbour will be defined as regional.

So Greater Sydney includes all those areas that are currently in lockdown in Greater Sydney but for the Central Coast and Shellharbour which will be defined as rural and regional as we announced yesterday.

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Covid Australia live news update: NSW confirms 633 cases and three deaths; ACT records 22 and Victoria 24; New Zealand cluster rises to seven

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NSW confirms 633 cases and three deaths; Victoria records 24 new local cases as CHO says outbreak disproportionately affecting children; New Zealand cluster rises to seven cases. Follow all the day’s news

A second South Australian MP has been referred to an official investigator over allegations of bullying, AAP reports.

Treasurer Rob Lucas says he has referred allegations against Labor MP Tony Piccolo to the Commissioner for Public Sector Employment.

The prime minister, Scott Morrison, said just a moment ago that expanding access to the Pfizer vaccine for 12- to 15-year-olds was something being worked through.

Labor leader Anthony Albanese is pushing for a plan.

Parents worried about the effect that lockdowns are having on their kids are now more concerned than ever that their children might catch Covid.

And right now, Mr Morrison doesn’t have a plan for our kids to access a vaccine when it’s safe to do so.

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Josh Frydenberg’s office intervened in superannuation consultation paper, FOI documents reveal

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Treasury department emails show discussion was had about linking proxy advisers with compulsory super

Josh Frydenberg’s office intervened in the drafting of a consultation paper to make sure it linked proxy advisers to the issue of compulsory superannuation, a key battleground in the political war over retirement savings, internal Treasury documents show.

The documents, released to Guardian Australia under freedom of information laws, also reveal the paper was developed in just one week.

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Australia Covid live update: NSW records 233 cases and two deaths, including man in 20s; one new case in both Victoria and WA

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Two deaths overnight in Sydney and 233 new local cases in NSW; Queensland to reschedule public holiday as 17 cases recorded. Question time returns. Follow latest updates

About 2,500 students and staff at a school in Melbourne’s west will need to self-isolate and get tested after a teacher caught Covid-19.

Jeroen Weimar, Victoria’s Covid-19 commander, told ABC Melbourne the Al Taqwa College teacher got tested yesterday and her positive result came back today.

Let’s take a look at the market at the close of play, via AAP.

The ASX200 has closed higher than 7500 points for the first time in its history as traders continue to look beyond coronavirus lockdowns.

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Australia politics live: parliament resumes; Victoria records four new Covid cases; Westmead hospital worker tests positive

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Anthony Albanese wants the Morrison government to provide a one-off $300 payment to every person who has been fully vaccinated by 1 December. Follow latest updates

The RBA is meeting today to discuss Australia’s cash rate.

I don’t want to spoil anything for you...but expect, no change.

For those interested, you can find the daily legislation schedule for the house, here

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