Category Archives: Australia cost of living crisis

Weather warning for north Queensland – as it happened

Posted on by

This blog is now closed.

‘No plans to change’ Australia Day, minister says

Speaking on the Today show, Amanda Rishworth is asked about a decision by Cricket Australia to scrap the term Australia Day at the Brisbane Test match this Friday.

We have absolutely no plans to change that. The prime minister has said that on a number of occasions.

I think it is important that we do, though, acknowledge that Australia Day for some people is a difficult day. For others, it’s a day that is the day they became an Australian citizen and that’s really important to them.

This is something you’ve been aware of for several months, in fact, perhaps longer than that. So, why fly to Canberra now?

This year will be a year of delivery. And so at the beginning of the year, it’s not uncommon for political parties to get together. I would suggest that the opposition, from time to time, has flown people to all one place. So, it is a bit two-faced to be criticising the Labor party here. But it will be an important meeting, as will this year be of us continuing to deliver help for Australians.

We don’t have parliament by Zoom. We don’t have a number of political meetings, committee meetings by Zoom. They are done in person. It is important that MPs do get together and actually put their views forward.

Continue reading...

Albanese government secures further gas supply before meeting on cost-of-living relief

Posted on by

Deal aimed at keeping energy bills affordable will see 260 petajoules supplied to gas-fired power stations in Australia’s south-east coast until 2033

Australia’s south-east coast will be further guaranteed gas supply in an effort to keep lights on and energy bills affordable before predicted supply shortages at the decade’s end.

It comes as the prime minister, Anthony Albanese, has called Labor MPs and senators to Canberra on Wednesday for a snap caucus to discuss further cost-of-living relief measures put forward by Treasury.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Groceries on special fly off Australian supermarket shelves at 70 times normal rate

Posted on by

ABS data highlights shoppers’ attraction to promotions, as supermarkets giants discount unhealthy food twice as often as healthier items

Supermarket promotional items can sell at up to 70 times their normal rate, analysis shows, in a sign of the market power the grocery giants exert over Australian households that includes a preference to discount junk food.

An upcoming parliamentary inquiry designed to investigate claims of profiteering is expected to place significant focus on grocery specials, while the competition regulator has also suggested it could sue major supermarkets for deceptive promotions. The chains have defended their pricing practices.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

‘We’ve got to break them up’: farming groups say supermarkets use market power to distort prices

Posted on by

Claim comes amid state and federal inquiries into Australian grocery sector and what producers say is a widening gap between wholesale and shelf prices

Farming groups have accused the major supermarkets of using their power to distort the market, leading to elevated prices for shoppers and low prices for producers.

The claim comes amid falling global prices for agricultural goods that have failed to dent grocery bills, and growing scrutiny of supermarket pricing practices through newly announced federal and state parliamentary inquiries.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Queensland launches inquiry into grocery price gouging following premier’s meeting with major supermarkets

Posted on by

Executives of Woolworths, Coles and Aldi have agreed to appear at hearings, Steven Miles said, amid concerns from farmers and consumers

Queensland’s state government will launch an inquiry into alleged grocery price gouging – despite the jurisdiction having few powers to combat the issue, the premier said.

The premier, Steven Miles, said terms of reference are being drafted and the committee will be formed in the first sitting week of parliament for the year, next month.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Labor says it’s looking for ways to ease cost-of-living pressures. Just don’t mention the stage-three tax cuts

Posted on by

The cuts are already baked into the RBA’s forecasts and economists say there is little point looking at alternatives

Come 1 July, Australian taxpayers will have $20bn more to spend, a pulse of demand in the economy that will keep interest rates higher than they otherwise would be.

That is courtesy of the controversial stage-three tax cuts that are legislated and, it seems, unlikely to be delayed or modified by the federal government.

Sign up for a weekly email featuring our best reads

Continue reading...

Annual profit is more than $1bn for Woolworths and Coles. How do they set prices and can they justify rises?

Posted on by

Farmers and consumers alike are sharing their frustration amid the cost-of-living crisis as a government inquiry into the Australian supermarket giants looms

Australian supermarkets breezed through the pandemic, increasing profits and shareholder returns even as living costs surged, all while avoiding the scrutiny faced by their overseas counterparts.

But a looming parliamentary inquiry, and a revitalised political interest in the discrepancy between prices paid to farmers and those charged by supermarkets, means the sector has been thrust into the spotlight.

Sign up for a weekly email featuring our best reads

Continue reading...

NSW police say man they shot dead outside medical clinic was armed – as it happened

Posted on by

This blog is now closed.

Victoria floods: affected communities urged to prepare up to three days of supplies

A watch and act alert is in place along the Goulburn River from Murchison and Shepparton to south of Lake Eildon.

We’re not expecting the levels of October 2022 which is pleasing, but there will still be a significant amount of water around and we’re asking community to be really vigilant and have that awareness of what’s happening.

Continue reading...

Australian capital city rents up 13% over year as further hikes predicted for 2024 amid housing shortage

Posted on by

Housing advocates call for urgent reform to address growing crisis as capital rents hit average of $600 a week

Australia’s record shortage of rental properties will continue to drive prices up for tenants, analysts say, with a new report revealing combined capital city rents rose 13.2% year-on-year.

Data from PropTrack, the property analytics division of REA Group, has revealed national rental prices rose 11.5% over the past year, with combined capital city rents up 13.2% to an average of $600 a week, driven by large increases in Sydney, Melbourne and Perth.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Labor could raise welfare payments for cost-of-living relief without stoking inflation, economists say

Posted on by

Albanese government would need to couple any increases in unemployment benefits and pensions with savings, experts say

Addressing competition issues and increasing unemployment benefits and pensions are ways the Albanese government could tackle cost-of-living pressures but they would have to be coupled with savings to avoid reigniting inflation, economists say.

The prime minister, Anthony Albanese, on Wednesday said he had asked Treasury and the finance department to develop “further propositions” for providing cost-of-living relief by the May budget.

Continue reading...

Australia’s property market faces fresh peaks and troughs with slowing prices and interest rates tipped to drop

Posted on by

Price trends are unlikely to be straightforward in 2024, even if the RBA’s next move is a rate reduction

Australia’s “rollercoaster” real estate market faces fresh peaks and troughs in 2024 as the prospect of falling interest rates contend with a recent slowdown in price increases.

Renters, meanwhile, are experiencing smaller increases in payments but the share of income going to rent remains at near-record levels with little relief in sight.

Continue reading...

Two people dead and a dozen injured after multi-car crash in NSW – as it happened

Posted on by

This blog is now closed

Tasmanian yacht Alive is in the box seat to take out Sydney to Hobart yacht race’s overall honours, with skipper Duncan Hine confident the 66-footer has a winning time on the board.

Hine and his crew finished the 628-nautical-mile blue water classic yesterday afternoon as clubhouse leaders on handicap time.

It’s a waiting game. We’re looking good, though. I believe we could do it again, but the reality may be different. Now we wait with bated breath to see if anyone can beat our time.

Continue reading...

Data reveals most expensive Australian capital to buy petrol – and the cheapest

Posted on by

Drivers in Brisbane bear brunt of record petrol prices this year – ‘only now are we starting to see some relief’

Australian motorists are copping the cost of volatile world oil prices but relief could be in sight.

Drivers in Brisbane bore the brunt of record petrol prices this year, making the Queensland city the nation’s most expensive capital to put fuel in the tank. Regular unleaded cost on average 193.4 cents a litre, an NRMA analysis of 2023 petrol prices across the country revealed.

Continue reading...

Boxing Day sales: retailers expect shoppers to spend $1.25bn amid cost-of-living crisis

Posted on by

Australian Retail Association predicts $23.9bn in spending for sales period ending on 15 January

Retailers are expecting Boxing Day shoppers to spend $1.25bn on Tuesday as the sector hopes for relief from a drop in discretionary spending.

Retail sales have been sluggish throughout 2023 as cost-of-living pressures bite.

Continue reading...

Australia news live: Natasha Fyles resigns as Northern Territory chief minister; PM to visit north Queensland flood zones on Thursday

Posted on by

Follow the latest updates live

Communities urged to exercise caution amid ‘huge volumes of water’

QFES commissioner Steve Smith has also made some comments on the flood situation up in Queensland.

There’s still huge volumes of water moving down through the systems, so at different points on the water, in the water catchments, they’re going to have rises. So we need people to stay informed, and they’ve done a great job in doing that. So we want that to continue with the support from community.

No. So we have commenced a search and rescue investigation into that. Degarra was one of the communities we couldn’t get into yesterday, but we have been speaking to a local man where there were a number of rescues completed yesterday in Degarra. So we have dispatched the water police vessel this morning, which left in the early hours of this morning and is on the way to that location. And in addition to that, we’ve now got rescue helicopters going that way as well.

Continue reading...

Australians may get more cost-of-living relief in the next budget, Jim Chalmers says

Posted on by

Exclusive: Treasurer says government working on measures to ease the squeeze as well as policies to accelerate transition to net-zero emissions

Jim Chalmers has said Australians could receive more help with cost-of-living relief in the budget next May and confirmed the government is working up new policy measures to accelerate the transition to net-zero emissions.

In an end-of-year interview with Guardian Australia following the release this week of the mid-year budget update, the treasurer said the government would consider further interventions to help households between now and the May budget as long as measures didn’t fuel inflationary pressure, which has been moderating.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Steven Miles to set more ambitious emissions reduction targets on day one as Queensland premier

Posted on by

Leader will refocus climate debate on job creation in rural areas to remove tension between resource-rich regions and urban south-east, sources say

The incoming Queensland premier, Steven Miles, is expected to announce on Friday that the state will lift its lagging emissions reductions targets, among a number of “day one” initiatives to be unveiled by the new state leadership.

Miles will enter a caucus meeting on Friday as the only candidate for the Labor leadership vacated by the retiring premier, Annastacia Palaszczuk.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

Tropical Cyclone Jasper live update tracker: category 2 storm hits North Qld, more than 14,000 homes lose power, BoM radar track map – latest

Posted on by

BoM tracker map shows forecast path of category 2 cyclone will hit north of Cairns and Port Douglas on the Queensland coast at about 1pm with heavy rain, 140km/h winds and storm surge predicted. Follow the latest Australia news and weather updates today

Ceasefire ‘can’t be one-sided’

Emergency management minister Murray Watt is also speaking to ABC RN this morning, and was asked about the PM’s joint letter with his New Zealand and Canadian counterparts urging a ceasefire.

[It] shows that we want to work with like-minded countries towards what would be a just and enduring peace. I think the whole world has been pleased to see the release of hostages and the pause in hostilities that we’ve seen over the last couple of weeks, but what we need to do is move towards a sustainable ceasefire …

I think everyone who watches this conflict unfolds on their television screens, is really disturbed about the loss of life that we’re seeing go on at the moment.

I think that’s the value that a country like Australia can play here by really taking that even-handed approach that does call out the abhorrent behaviour by Hamas, but also as a friend of Israel, calls on them to respect international humanitarian law.

We are alarmed at the diminishing safe space for civilians in Gaza. The price of defeating Hamas cannot be the continuous suffering of all Palestinian civilians.

Continue reading...

Australia news live: ABC cancels The Drum; two feared dead in NSW plane crash

Posted on by

Follow the day’s news live

Education review due

Education minister Jason Clare spoke to ABC News Breakfast just earlier about the much-anticipated review into Australia’s education system, released today.

You talk about entrenched disadvantage in our schools, this report tells us we’ve got one of the most segregated school systems in the OECD, not by the colour of your skin but the size of your parents’ pay packet. Children are more likely to fall behind at school if they’re from a poor family and from the bush, but if they’re at a school where a lot of people are experiencing disadvantage it’s even harder to catch up. There’s a number of things we need to do to turn that around.

Continue reading...

Bracket creep is cooling Australia’s economy – it’s good news for interest rates but not for household budgets

Posted on by

The weak economy probably means the next RBA rates move – short of an inflation surprise next month – will be a cut

Philip Lowe used his final speech as Reserve Bank governor to call on fiscal policy to “provide a stronger helping hand” in managing inflation so the central bank didn’t have to carry most of the load – and the ire.

“Raising interest rates and tightening policy can make you very unpopular, as I know all too well,” Lowe said on 7 September, 10 days before many battling borrowers cheered him out the door.

Continue reading...