Category Archives: Australian economy

Australia charts hottest spring on record for mean temperatures – as it happened

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The health minister, Mark Butler, is holding a press conference in Adelaide to announce the endometriosis drug Visanne will be added to the pharmaceutical benefits scheme. It’s the first listing of an endo treatment in three decades.

This is a condition that impacts more than 1 million women – one in seven women and teenage girls – and for too long, too many women have been made to suffer in silence.

[They’ve] been told by many healthcare professionals, it has to be said, that this is “normal”. That it is a normal part of period pain or many other explanations for debilitating, crippling pain.

This is all about providing cheaper medicines and cutting-edge treatment to Australian patients generally, but [particularly] in the area of endometriosis, which has attracted such inadequate support for hundreds of thousands of Australian women.

This listing is beyond time.

The major contributor to the record has been the minimum temperatures, which averaged 17.2ºC over the spring season for the site, and were elevated by cloud cover, precipitation, and most notably, humidity.

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Senator calls social media ban a ‘sham’ – as it happened

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Canavan says under-16 social media ban has caused new generation to become passionate about democracy

Nationals senator Matt Canavan was loudly outspoken against the under-16 social media ban bill and voted against it – but as we know, the bill ultimately passed.

It has been great seeing people learn how the parliament works. And with that in mind, note that the social media bill is not yet law. Tomorrow morning it heads back to the House of Representatives because there were amendments passed in the Senate tonight. It then has to go to the governor general. But both these steps are almost certain to happen.

Thanks again for all of your help and support. We got some amendments on digital ID so it was not for nothing and the fight continues.

As it currently stands, underlying inflation is still too high to be considering lowering the cash rate target in the near term.

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Australia politics live: Thorpe says her suspension from Senate a ‘colonial action’ and stages pro-Palestine protest from gallery

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Nuclear costings coming ‘in coming weeks and months ahead of election’: Taylor

The shadow treasurer was also asked when the Coalition would release the costings of its nuclear plan.

We will not be announcing it on your program this morning, as much as you might like me to.

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Australia politics live: Hanson fails in bid to refer Payman over citizenship; Thorpe withdraws ‘shut your mouth’ comment to Labor senator

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Labour market steadying as latest monthly CPI result looms

The consensus for much of the year has been the Reserve Bank’s 13-year high interest rates would squeeze demand in the economy, nudge up unemployment and help bring down inflation. And then it could start cutting its cash rate.

And then more recently, we’re actually starting to see [the labour market] tighten.

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Senate crossbenchers side with Coalition to oppose Greens motion to dump anti-abortion bill – as it happened

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The independent MP Zoe Daniel was on ABC News Breakfast earlier to discuss her alternative to the under-16 social media ban, which she introduced as a private member’s bill yesterday.

Daniel said her bill would implement an overarching statutory duty of care on social media companies “that goes to safety by design – but that in and of itself is not enough”.

What you need to make that work is the companies to assess the risks, mitigate the risks, be transparent about how they’re doing that.

The bill builds in penalties so if the companies do not comply, they could be fined up to 10% of global revenue. Also, their onshore executives could be held accountable for that … and the bill also has a provision to enable users to have control over the algorithm, as exists overseas, particularly in the EU …

[There are] obviously privacy concerns, and given the government’s had to pull their misinformation [and] disinformation – or their censoring the Australian public – bill from the Senate this week, we want to make sure we get strong, robust laws that don’t damage the [right to] privacy and make compulsory Australians having to have digital IDs.

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Greens say leaked pokies reform report ‘a huge concern’ – as it happened

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Heatwave conditions are building over parts of Victoria and New South Wales today.

According to the Bureau of Meteorology, much of Victoria will experience heatwave conditions, with maximum temperatures in the mid to high 30s.

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Attempt to prevent NSW climate protest overturned – as it happened

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New South Wales MPs condemned for ‘part-time’ parliamentary year

Scores of NSW MPs will earn the equivalent of more than $10,000 per sitting week in 2025 after a bid to increase the year’s 16-week calendar was rejected, AAP reports.

To do this, government MPs have to turn up to parliament and discuss matters. Voters won’t be happy that government MPs would prefer to hide in their electorate offices rather than turning up to parliament, where they face scrutiny.

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Dutton’s position on international student caps ‘utterly reckless’, Giles says – as it happened

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Oxfam reacts to Australia’s Cop29 pledge

Oxfam Australia has welcomed the government’s Cop29 pledge of $50m towards a global loss and damage fund to help the world’s most vulnerable people to repair the damage from climate breakdown.

If climate change losses and damages are not included in the new global climate finance goal, the new fund for responding to loss and damage risks becoming an empty vessel.

The danger is that developed country governments will prioritise meeting the new and ambitious climate finance goal, and will not prioritise a fund that doesn’t count towards it.

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Australia politics live: Dutton calls Labor’s international student caps bill ‘a dog’s breakfast’; RBA fuels expectations for February interest rates cut

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First investment announced as part of National Reconstruction Fund

The science and industry minister, Ed Husic, was on ABC News Breakfast to discuss the government’s first investment via the National Reconstruction Fund – $40m to a Toowoomba mineral processing factory.

The difference in terms of what the [NRF] does is it provides loans, equity, and guarantees to firms that are [working across] seven priority areas to expand and grow their operations.

Given the sizes of the investments, it does take more time to be able to go through to shape up what the investment will look like, how big it’ll be, over what term, the rate of return – because the other important thing to stress to viewers is – this is not about handing out grants, and certainly not doing it on the basis of political colour-coded spreadsheets as we saw with the last government.

In fact, the social media users were less likely to have a negative attitude towards Jewish and Muslim people, irrespective of where they were on the political spectrum.

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Backflip on international student caps ‘baffling’, MP says – as it happened

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Three million Australians are at risk of homelessness, a 63% increase since 2016, a new report from Homelessness NSW and Impact Economics has revealed.

By looking at household data including income, support and rental stress, the report found in 2022 there were 3.04m Australians now at risk of homelessness, an increase on the 1.87m reported in 2016.

1 in every five days the frontline services could not assist a family with children because they were so stretched.

Individuals without children were turned away 1 in every 2 days.

Unaccompanied young people and children without accommodation were turned away on 1 in 9 days.

I think more broadly, the government under Anthony Albanese has got an excellent record of managing relationships around the world, making genuine progress, whether it’s with China, whether it’s with American friends or others.

I think when it comes to Peter Dutton, I think he has a kind of a reckless arrogance which doesn’t lend itself to foreign policy and maintaining and managing some of these complex relationships.

I think he would be a risk to our economy, and that’s because that reckless arrogance, which has been a defining feature of his time as a politician over a long period of time now … [it] doesn’t lend itself to managing these relationships, which are so important to us.

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Australian businesses selling essential goods and services to be forced to accept cash payments

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Treasury confirms cheques will stay in circulation until 2029 but then cease to be accepted as legal tender

Businesses selling essential goods and services such as groceries, medicines and fuel will be forced to accept cash from their customers unless granted a special exemption, under a government mandate to take effect from 1 January 2026.

In a move designed to taper the phase-out of cash and ensure those who rely on it can still use it for the near future, the federal government will require certain businesses to take cash payments. But others, including many small businesses, will be exempt from the measure.

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Coles and Woolworths face class actions over claims misleading promotions deceived customers – as it happened

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Watt says issue of reconciliation not closed in Australia despite voice referendum

Wrapping up the interview, Murray Watt was also asked about the haka performed in New Zealand parliament yesterday over a controversial bill that proposes to radically alter the way New Zealand’s treaty between Māori and the crown is interpreted.

I think there are many Australians who care very deeply about the rights of our First Peoples. Of course, Australians had their say on the voice to parliament in the recent referendum but I don’t think that means the issue of reconciliation is closed in Australia. That is something that our government remains committed to working on with our First Peoples and I think a lot of Australians support that as well.

I probably won’t comment on what’s happening in New Zealand because it’s their own affairs, but it shows these issues still really matter to people.

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Police make arrest and seize water pistol after incident outside NSW parliament – as it happened

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Could Donald Trump really fire Kevin Rudd?

The former prime minister’s criticism of Donald Trump has drawn the ire of those in the president elect’s inner circle, and prompted renewed debate about whether the incoming administration could seek retribution.

I’d be very much opposed to that.

You’ve got the world’s richest man, and you’ve given him this position of incredible influence in the American government. I think jobs for mates is a very bad idea. I don’t think that politicians should be putting their friends, their dear friends into positions of great influence in this country.

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News live: Birmingham says Australia could learn lessons from ‘disrupter’ Trump in making government more efficient

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The treasurer, Jim Chalmers will today announce funding of $900m for states and territories through a new national productivity fund to boost competition and productivity across the economy.

Launching the plan in a speech to the Australian Business Economists in Sydney, Chalmers is hoping the plan will will incentivise states to achieve productivity gains through pro-competitive policies such as streamlining commercial planning and zoning, and removing barriers to the uptake of modern construction methods.

In March this year, on behalf of the Council on Federal Financial Relations, I asked the Productivity Commission to model the potential impacts of a revitalised NCP.

Its final report landed this month and the benefits on offer are substantial, if not staggering. The PC found a revitalised NCP could boost GDP by up to $45bn a year and reduce prices by 1.45 percentage points. That GDP boost represents about $5,000 per household, per year.

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Man charged with murder after woman’s body found in Penrith hotel – as it happened

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Meteorologists are forecasting that thunderstorms will develop over large swathes of the country every day this week, and likely into next.

Ben Domensino from Weatherzone has outlined the forecast as follows:

Early in the week, showers and thunderstorms will target central, eastern, southern and southeastern Australia on Monday and Tuesday. Severe thunderstorms are likely in parts of NSW and [Queensland] on both days and are also possible in other states.

Storms will become more focussed on a broad arc stretching across Australia’s eastern and northern states and down into the WA interior through the middle of the week. Sydney, Brisbane and Canberra will all be at risk of severe thunderstorm activity on Wednesday.

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Australia ‘not immune from trade tensions’, Chalmers says of incoming Trump presidency

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Treasurer says he spoke about tariffs to a ‘key member’ of Republican’s economic team before the US election

Australia’s economy will not be immune from escalating trade tensions, Jim Chalmers has warned, as the Albanese government prepares itself for an incoming Donald Trump administration.

In a speech to be delivered on Monday , the treasurer will outline the risks of an “uncertain world characterised by economic vulnerability and volatility” but will say the Australian government is “well-placed and well-prepared”.

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Trump’s tariff threats a ‘clear and present danger’ to Australia, Arthur Sinodinos warns

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Former ambassador to US says president-elect’s vow to slap up to 60% tariffs on imports from China would have knock-on effects on Australian economy

Donald Trump’s threats of hefty tariffs on imports – especially from China – pose a “clear and present danger” to Australia that must be taken seriously, according to a former Australian ambassador to Washington, Arthur Sinodinos.

Speaking to Guardian Australia’s Australian Politics podcast, the former Liberal senator and adviser to prime minister John Howard, who was ambassador through Trump’s final year in the White House, warned that the US president-elect’s talk of slapping tariffs of 10-20% on foreign goods and as much as 60% on goods from China cannot be dismissed as bluff.

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Sydney homes flooded after water pipeline bursts – as it happened

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Racism, colonialism ‘driving Indigenous self-harm’

Australia’s dark colonial past and ongoing racism are driving self-harm in Indigenous communities, according to a respected Aboriginal psychologist.

That whole process has left communities suffering from intergenerational trauma, disadvantage and ongoing racism, as well as the exclusion from the benefits of society and a lack of acknowledgment and respect for their different cultural values.

We still want clinical approaches but we want to see culture at the centre of that.

In Australia, the crisis support service Lifeline is 13 11 14. In the UK and Ireland, Samaritans can be contacted on freephone 116 123, or email jo@samaritans.org or jo@samaritans.ie. In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on 988lifeline.org, or text HOME to 741741 to connect with a crisis counselor. Other international helplines can be found at befrienders.org

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Shrinkflation a ‘difficult decision’ for manufacturers, inquiry told – as it happened

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Former prime minister Malcolm Turnbull, who had some colourful moments in his relationship with Donald Trump in his first presidency, is up now being colourful on the ABC. He says the Australian prime minister “has to stand up for Australia and not follow the conventional approach, which is being urged on everyone, which is to suck up to Trump and be utterly deferential:

I had a very successful relationship with Trump because I stood up to him, stood my ground, incurred his wrath, won his respect, and then got very good outcomes for Australia.

He did sort of encourage a mob to try to overthrow the peaceful transfer of power in 2021, on January 6.

The deal that Morrison instigated and Albanese signed up to is a very, very asymmetrical deal. All of the risk was on Australia. We have no agency and no leverage over this, and that’s why I think the most likely outcome is we’ll end up with no submarines, and that will be entirely our own fault because we signed up to a dud deal.

We have been clear, in terms of the Liberal party leadership, that Peter Dutton and the Liberal party have no plans, no intentions, to see any changes to abortion laws, that we respect the states’ rights in that regard, and I am very clear in terms of my respect for women’s reproductive rights.

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Morrison and Abbott praise Trump – as it happened

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There was some seriously colourful language in Senate estimates yesterday, but in this case the media regulator found radio hosts’ words were a step too far. Sarah Martin reports on what the Greens senator Sarah Hanson-Young described as “revolting, sexist, racist, misogynistic, divisive stuff”:

A “dangerous anti-abortion bill” before the Senate should be withdrawn, if the opposition leader, Peter Dutton, wants credibility on women’s healthcare, the minister for women, Katy Gallagher, says.

It is typical of Peter Dutton to view this purely as a matter of winning or losing votes, rather than any genuine commitment to women’s healthcare.

If Peter Dutton wants any credibility on women’s healthcare, he must immediately ensure Senators [Matt] Canavan and [Alex] Antic withdraw their dangerous anti-abortion bill currently before the Senate.

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