Treasury disbanded non-dom tax policy unit weeks before budget, sources say

Exclusive: Officials fear government is ill-prepared for lobbying from wealth advisory industry after taxation overhaul

The Treasury disbanded a unit tasked with offshore and non-dom tax policy weeks before announcing significant changes in the budget to the way foreign residents are taxed, sources have said.

The unit, which comprised technical experts on offshore tax issues, included specialists on non-dom policy. These officials would, according. to the sources, have been expected to help manage the implementation of a replacement for non-dom status as outlined by the chancellor this week.

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Australia news live: former Victorian MP Fiona Patten winds up Reason party and rules out political comeback; police to provide update in Samantha Murphy press conference

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NSW government urged to double social housing by 2050

Homelessness NSW is urging the state government to spend $1bn each year for a decade to double the supply of social housing by 2050.

NSW has failed to invest in social housing for decades. Last year, just one-fifth of people seeking help from homelessness services could find long-term accommodation.

Right now, many of the 57,000 households on the social housing waitlist are forced to wait up to a decade for a safe and stable place to call home.

Underfunded frontline providers are being flooded with calls for help and forced to turn away one in every two people who need accommodation. Services will be unable to keep staff on or their doors open without more funding.

Even for people who get through the door, help is limited. Half of those who need temporary or crisis accommodation cannot access it. That means women and children are forced to return to violent partners, seek shelter in a vehicle, on a couch or the street.

But there has been no improvement in closing the gap on life expectancy, with Indigenous Australian males and females expected to live 8.8 and 8.1 years respectively, less than other Australians.

The target to reduce the number of children in out of home care is not on track, while the target to reduce adult imprisonment is not on track and worsening.

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Budget 2024 live: Jeremy Hunt cuts national insurance, abolishes non-dom status and raises child benefit threshold

NI cut of 2p announced, along with new tax on vapes, end of tax relief for holiday lettings and more cash for NHS IT system

Jeremy Hunt is expected to extend the windfall tax on energy companies in the budget to help fund his national insurance cut. Extending the windfall tax is a Labour proposal that the Tories used to dismiss, and, according to a Daily Telegraph story, Douglas Ross, the Scottish Conservative leader, is so angry about the move that colleagues thought he might resign. Ross is MP for Moray, in the north-east of Scotland, and he is worried that the potential impact on the oil and gas industry in Scotland will cost the party votes.

In their story, Nick Gutteridge, Dominic Penna and Simon Johnson say Ross had a row with Rishi Sunak about this at a reception on Sunday night. They report:

The leader of the Scottish Conservatives had doggedly sought out Mr Sunak across the crowded, stifling room, determined to give him a piece of his mind about the Treasury’s plans to extend the windfall tax on North Sea oil and gas giants for an extra year.

What followed was a “heated” discussion between the pair, with Mr Ross warning the move would hammer the Tory vote north of the border and the prime minister countering that it was necessary to deliver a National Insurance cut for millions of workers.

Glen O’Hara, professor of modern history at Oxford Brookes University, points to the gaping trade deficit left for Labour in 1964, when outgoing Tory Chancellor Reginald Maudling infamously left a note for his successor reading: “Good luck, old cock … sorry to leave it in such a mess.”

Conservative Chancellor Norman Lamont’s pre-election budget in 1992 introduced a lower rate of income tax which Labour opposed, allowing the Tories to portray them as a “high-tax party.” The Tories unexpectedly went on to win the subsequent poll.

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National insurance: how much will the 2p cut leave workers better off?

Jeremy Hunt said his budget measure will benefit 27 million people – here’s how it will work

A big national insurance cut was the centrepiece of Jeremy Hunt’s autumn statement and he has done the same again for the spring budget . But just how much better off will UK employees really be?

The chancellor is cutting the main rate of national insurance contributions (Nics) paid by workers from 10% to 8% with effect from 6 April 2024, which he said would benefit 27 million workers. He also announced changes to the national insurance paid by those who are self-employed.

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UK fuel duty cut is regressive policy that benefits the wealthy, study finds

Chancellor’s 5p freeze will save £60 a year for well-off motorists compared with just £22 for lower earners

Retaining the fuel duty cut in the budget is a regressive policy that benefits the wealthiest in society, who will save £60 a year, while those who earn the least will save just £22, according to analysis.

Jeremy Hunt on Wednesday announced an extension of the 5p cut in fuel duty brought in during 2022, for which he has won plaudits across the rightwing press.

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Budget 2024: Jeremy Hunt announces 2p cut in national insurance

Chancellor also scraps ‘non-dom’ tax breaks and slashes capital gains on property in pre-election gambit

Jeremy Hunt has announced a 2p national insurance cut in his budget as a pre-election gambit to revive flatlining opinion poll ratings and reboot Britain’s economy from recession.

In what could be the last major economic intervention before voters go to the polls, the chancellor said the government was making progress on its economic priorities and could now help hard-pressed families by permanently lowering certain taxes.

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Australia news live: West Gate Bridge climate protesters jailed; Greens propose plan for 360,000 homes

Proposal to create a public property developer, with 70% of homes offered for rent, and rents capped at 25% of average household income. Follow the day’s news live

New analysis shows 2m hectares of Queensland forest destroyed in five years

More than 2m hectares (4.94m acres) of bushland in Queensland that included large swathes of possible koala habitat has been cleared over a five-year period, new analysis shows.

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Australia news live: Higgins and Reynolds in defamation mediation talks; first apparent lithium battery-related fire deaths in NSW

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Zoe Daniel says Asean has not done enough on crisis in Myanmar

The independent MP for Goldstein, Zoe Daniel, was just on ABC RN to discuss the ongoing humanitarian crisis in Myanmar. She argued that Asean hasn’t done enough on the issue, and needs to do more.

There’s also I think, a desire within Asean for economic cooperation and to try to take that route with the junta as a form of leverage … My concern though is that, I think, that we might be heading down the path of a form of normalisation with the junta and you’ve currently got a situation where about 30% of the country is in stable control of rebel ethnic groups, and the junta is really only holding the major cities.

Any form of normalisation with the junta that is pushed by Asean, and I think will be raised with the Australian government for support this week, could backfire because it could in effect allow the junta to enter some of those areas that are reasonably stable and are actually managing themselves.

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Sunak hints at further national insurance cuts in spring budget

Government wants to make life easier for working people, he says at Scottish Tory conference

Rishi Sunak has issued a strong hint that there could be further cuts in national insurance rates in next week’s budget.

The prime minister told reporters gathered at the Scottish Tory conference in Aberdeen on Friday that he wanted to make life easier for working people across the UK, particularly at a time when the Scottish National party government was raising income taxes from April for anyone in Scotland earning above £28,850.

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UK a ‘tax haven’ for polluting SUVs, says green thinktank

First-year vehicle excise duty is a fraction of that in countries such as France and the Netherlands

Low taxation on petrol SUVs in the UK compared with much of Europe is inviting a glut of large, polluting luxury cars, according to an analysis by a green thinktank.

The tax paid when buying a new petrol or diesel SUV in the UK is only a fraction of the levies in neighbouring countries, including France and the Netherlands, and lower than many others in Europe, making it a “tax haven” for the bigger, less environmentally friendly vehicles, the report from Transport & Environment (T&E) found.

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Australia ‘horrified’ by Gaza humanitarian catastrophe – as it happened

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Both sides of politics are pulling out all the stops as the Dunkley byelection goes down to the wire.

Speaking on Sunrise this morning, the education minister, Jason Clare, and the deputy opposition leader, Sussan Ley, went head-to-head over a tweet she published last night.

You should delete the tweet… This is a classic example of why women aren’t joining the Liberal party and why they’re not voting for the Liberal party, because of that classic, desperate, grubby political scare campaign we saw from the Liberal party yesterday.

I don’t know, really, you must wake up in the morning, look in the mirror and think, after 25 years of being a member of parliament, is this what I’ve become? I’m reduced to putting out tweets like this?

Anyone who watched question time during this week and saw your hopeless immigration minister unable to demonstrate that he even knows where his criminals [are], what they’re doing, who’s monitoring them and whether the community is safe, would probably not agree with what you’ve just said.

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Australia politics live: Victorian premier cancels iftar dinner after Muslim peak bodies boycott; jump in renewable energy investment

Jacinta Allan confirms dinner, which has been held since 2015, will not go ahead. Follow the day’s news live

Hockey says Asio boss should name accused politician in interests of transparency

Joe Hockey said it was “not standard practice”, as Hockey is now apparently an expert in how Asio and like-minded security agencies operate.

You know, they’ve launched investigations over here. I mean, you know, you had you had the Mueller inquiry into President Trump. You had an FBI inquiry into Hillary Clinton. You don’t just make this allegations, leave them unnamed and say, ‘Oh, yeah. They’re back in the community. They’re fine’, that just does not happen.

I mean, allegations have been made against Senator Menendez here as a sitting senator. They named the sitting senator.

Talking about a traitor amongst the ranks. He shouldn’t do that. If he’s not going to name that person. It’s absurd. It’s absolutely absurd.

It’s inconceivable here in the United States or the United Kingdom, or most other countries, that the head of the intelligence agency would go out and make that statement without telling everyone who it was.

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Deal allows police to march in parade – as it happened

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On the “broken promise” of changing the stage-three tax cuts (the latest Guardian Essential poll had Albanese falling in the trust stakes) the prime minister said:

We made not an easy decision. We made the right decision for all the right reasons. We know that families are under cost of living pressure.

The idea that we could sit back and ignore the clear recommendations that this was the best way that we could have an impact on providing that assistance to middle Australia without putting upward pressure on inflation – we couldn’t ignore that.

This is just a terrible incident that’s occurred here. The loss of the two young men and I feel for the grieving of the family, the friends. They obviously were full of life, because so many people interacted with them. It’s a really tough day for, as well, the queer community, and it’s been a very difficult time.

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HMRC struggling to cope as customer service levels hit ‘all-time low’

New report notes ‘continued decline’ and rising call-waiting times as ‘fiscal drag’ pulls growing numbers of people into an ailing system

Customer service levels at HM Revenue and Customs have sunk to an “all-time low”, parliament’s spending watchdog has said.

Users regularly encounter long call-waiting times as the tax department apparently struggles to cope with demand, a report by the cross-party public accounts committee (PAC) has found.

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Lidia Thorpe backs Mardi Gras over NSW police decision – as it happened

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The trade minister, Don Farrell, is at the World Trade Organisation ministerial conference in Abu Dhabi where he had a sideline chat with China’s commerce minister, Wang Wentao, overnight.

Sideline chats are the unofficial official talks – it’s not considered a bilateral, but both sides have to agree to the talk in order for it to happen. So it’s not just a see them and grab situation between sessions. It’s a little more planned than that.

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Australia politics live: John Howard joins donations drive for Dunkley byelection; Barnaby Joyce ‘having the week off’ parliament

Nationals leader David Littleproud confirms frontbench colleague has notified him he won’t be in Canberra for the sitting week. Follow the day’s news live

Parliamentary sparkies walk off job in pay protest

Parliament House electricians and tradies are walking off the job for 24-hours today in protest of their wages.

I would say to the government, if not, why not? We need to have enforceable rules about this. We need to have clear, publicly available selection criteria – that’s not asking too much.

…We need to have laws that have teeth on this so that governments of all persuasions can be held accountable for what they do.

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Australia news live: NSW police officer charged with murder after disappearance of Jesse Baird and Luke Davies

Former celebrity blogger expected to face court. Follow updates live

What will happen if there’s a storm during today’s Taylor Swift concert?

With a thunderstorm forecast at Sydney Olympic Park this evening, many are asking what this means for the Eras tour?

The show will play, rain or shine. The only exception would be severe weather, which could impact the safety of artists and patrons. Such a decision would be made by NSW Police, the event promoters and Venues NSW staff.

Please follow venue screens and staff instructions in these circumstances.

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Fire situation ‘will get worse before it gets better’ – as it happened

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Competition minister Andrew Leigh just spoke with ABC RN about, you guessed it, competition.

Speaking about supermarket prices and concentration in particular, Leigh said he is worried that Australia’s market concentration has “increased over recent decades”.

We’ve got evidence now from very good micro data, which wasn’t available a few years back, that market concentration has gone up, that markups have increased – that is the gap between costs and prices – and that there’s less job switching than there was in the past which is a problem, because switching jobs is one of the best ways people boost their wages. All of that points to a less dynamic economy, and maybe one of the reasons why we just had the lousiest decade of productivity growth in the post-war era.

It’s not a priority that we’re focusing on at the moment.

In London to support Julian Assange’s hearing on whether he can appeal his extradition to the US. Julian’s extradition would strike at the very heart of free speech [and] democracy. Enough is enough. The US must drop the extradition of Julian Assange.

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Australia news live: wages rise by 4.2% over 2023 in highest growth since 2009; flight cancellation crackdown

Transport minister Catherine King unveils overhaul to legislation governing Sydney airport, to significantly increase transparency over allocation of take-off and landing slots. Follow the day’s news live

Man dies after electric unicycle crash in Victoria

A man has died after crashing his electric unicycle in Bellfield yesterday evening.

We have concerns for his health. We have been working consistently since coming to government, particularly behind-the-scenes, to say that we believe Mr Assange should be returned … These sort of issues of diplomacy are not always best done through a megaphone, but we will continue to advocate for an end to this and see Mr Assange returned home.

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Jeremy Hunt’s budget giveaway ‘will act as sweet filling in tax sandwich’

Thinktank says juicy cuts this year follow far bigger increases in 2023 and precede planned ‘chunky rises’

Jeremy Hunt’s expected pre-election giveaway budget will be sandwiched between £20bn of tax increases already implemented and a further £17bn of hikes pencilled in for after polling day, a thinktank has said.

The Resolution Foundation said it expected Hunt to freeze fuel duty and cut income tax on 6 March but warned the chancellor’s “tax sandwich” was based on the “fiscal fiction” of £30bn of spending cuts in the next parliament.

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