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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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Fears for local news diversity if rightwing startup buys Southern Cross regional TV network

Fringe news streaming channel ADH TV, which launched with Alan Jones at the helm, confirms offer for 93 regional free-to-air stations

Diversity of local news may be at risk if a rightwing startup, ADH TV, is given the green light to purchase Southern Cross Austereo’s regional television network, an expert has warned.

Southern Cross Austereo (SCA) has confirmed it has received an offer from the fringe streaming news channel to buy its 93 regional free-to-air TV stations. The digital broadcaster, which is chaired by the former ABC chair Maurice Newman, was launched in December 2021 with the former 2GB broadcaster Alan Jones at the helm.

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Police ‘should have done more’ to save Melbourne woman stabbed to death by ex-partner in front of children

Family violence unit officers missed opportunities to protect Noeline Dalzell before James Fairhall murdered her, Victoria’s coroner says

Police missed an opportunity to protect a woman who was stabbed to death by her ex-partner in front of their three children, Victoria’s state coroner has found.

Noeline Dalzell was murdered by James Fairhall at her home in Melbourne’s south-east in February 2020, three months after he was released from custody for breaching a family violence intervention order.

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Houthis launch missile, drone attacks on US warships off Yemen’s coast – Al Jazeera English

  1. Houthis launch missile, drone attacks on US warships off Yemen’s coast  Al Jazeera English
  2. 2 Navy Destroyers Attacked by Barrage of Houthi Drones, Missiles Off Yemen Coast  Military.com
  3. Explosions reported near Red Sea ship in suspected Houthi attack  The Times of Israel
  4. Houthis Attack Two U.S. Destroyers Leaving the Red Sea, Pentagon Says  USNI News
  5. Houthis escalate tensions with US in Red Sea - analysis  The Jerusalem Post
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Police to charge man who allegedly carjacked 70-year-old and held father and toddler in Melbourne siege

The 26-year-old Snake Valley man remains in hospital with police expecting to charge him on Wednesday afternoon

A man will be charged after allegedly carjacking a 70-year-old woman before breaking into a Melbourne home and holding a father and his toddler inside in an hours-long siege.

A 26-year-old Snake Valley man, known to police, allegedly carjacked the woman in the western Victorian town about 2.30pm on Tuesday.

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Trump picks Huckabee as Israel envoy and Fox News host as defense secretary

Pete Hegseth tapped for key role and Kristi Noem for homeland security amid flurry of nominations

Donald Trump has chosen the former Arkansas governor Mike Huckabee as the next US ambassador to Israel and a Fox News host to be his new defense secretary.

Huckabee has a track record of hardline, occasionally provocative, pro-Israel rhetoric and previously said Israel has a rightful claim to the West Bank, which he refers to by its Hebrew and biblical name of Judea and Samaria.

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Senior Trump adviser suggests Rudd’s time as US ambassador could be up with hourglass gif

Anthony Albanese, Peter Dutton and Tony Abbott defend suitability of former PM after Dan Scavino social media post, despite Rudd’s past criticism of president-elect

A senior adviser to US president-elect Donald Trump has fuelled speculation about the future of Australia’s ambassador to Washington, former prime minister Kevin Rudd, by reposting Rudd’s congratulatory statement to Trump on social media with a gif of an hourglass.

The provocative time-is-running-out post by former Trump deputy chief of staff for communications Dan Scavino reignited suggestions that the incoming president may prefer another Australian representative in Washington when he takes office in January.

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Argentina’s monthly inflation drops to 2.7%, the lowest level in 3 years – The Associated Press

  1. Argentina’s monthly inflation drops to 2.7%, the lowest level in 3 years  The Associated Press
  2. Argentina Inflation Slowed More Than Expected to 2.7% in October  Bloomberg
  3. Argentine consumers feel squeezed even as inflation dips below 200%  Reuters
  4. Monthly inflation slows more than expected to 2.7%  Buenos Aires Times
  5. Javier Milei, Staunch Economist, Brings Argentina’s Inflation To Less Than 3%  The Daily Wire
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Elon Musk handpicked by Trump to carry out slash-and-burn cuts plan

World’s richest man has been an enthusiastic cost-cutter – but he may find the public sector an entirely different beast

Donald Trump, president-elect of the US, announced on Tuesday that he has selected Elon Musk, the world’s richest man, and Vivek Ramaswamy to lead the Department of Government Efficiency, with plans to reduce bureaucracy in the federal government by roughly a third.

Musk had pushed for a government efficiency department and has since relentlessly promoted it, emphasizing the acronym for the agency: Doge, a reference to a meme of an expressive Shiba Inu. Trump said the agency will be conducting a “complete financial and performance audit of the entire federal government, and making recommendations for drastic reforms”.

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Flights to Bali cancelled after volcano spews dangerous ash cloud 9km into air

Jetstar, Qantas and Virgin flights in and out of Australia were cancelled after Mount Lewotobi Laki-laki erupted

Three Australian airlines have cancelled flights to and from Bali after a volcanic eruption near the Indonesian holiday spot created a dangerous ash cloud.

The groundings affected Jetstar, Qantas and Virgin Australia flights on Tuesday and Wednesday, leaving passengers stranded.

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Trump selects Elon Musk to lead government efficiency department

Musk and ex-presidential candidate Vivek Ramaswamy to head up Department of Government Efficiency (Doge)

Elon Musk and former Republican presidential candidate Vivek Ramaswamy will lead the newly created Department of Government Efficiency, Donald Trump said on Tuesday.

Despite the name, the department will not be a government agency. Trump said in a statement that Musk and Ramaswamy will work from outside the government to offer the White House “advice and guidance” and will partner with the Office of Management and Budget to “drive large scale structural reform, and create an entrepreneurial approach to government never seen before.” He added that the move would shock government systems.

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Ukrainian girl killed by Russian drone as attacks surge – BBC.com

  1. Ukrainian girl killed by Russian drone as attacks surge  BBC.com
  2. Russia Launches Missiles Against Ukraine’s Capital  The New York Times
  3. Russia stages first missile attack on Kyiv since August, Ukraine says  Reuters
  4. Russia fires dozens of missiles and drones at Ukraine's capital as North Korean troops start fighting in Kursk  CBS News
  5. Ukraine’s war effort faces uncertain future as Russia mounts record drone strikes  CNN
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Trump Names Fox News Host Pete Hegseth to Head Pentagon, John Ratcliffe to Lead CIA – The Wall Street Journal

  1. Trump Names Fox News Host Pete Hegseth to Head Pentagon, John Ratcliffe to Lead CIA  The Wall Street Journal
  2. Senior commanders react to Trump’s new cabinet picks  CNN
  3. Trump's defense choice stuns the Pentagon and raises questions about the Fox News host's experience  The Associated Press
  4. Trump nominates Pete Hegseth to serve as defense secretary  Fox News
  5. People Can't Stop Watching This Unearthed Clip Of Trump's Defense Pick Hitting A Man With An Axe On Live TV  Yahoo Entertainment
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Trump Picks Pete Hegseth, a Veteran and Fox News Host, for Defense Secretary – The New York Times

  1. Trump Picks Pete Hegseth, a Veteran and Fox News Host, for Defense Secretary  The New York Times
  2. Trump picks Fox News host and Army veteran Pete Hegseth to serve as secretary of defense  CNN
  3. ‘Who the f--k is this guy?’: Defense world reacts to Trump’s surprise Pentagon pick  POLITICO
  4. Trump nominates Pete Hegseth to serve as defense secretary  Fox News
  5. Trump Names Fox News Host Pete Hegseth to Head Pentagon, John Ratcliffe for CIA  The Wall Street Journal
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China’s leaders urge investigation into Zhuhai car attack that killed 35 – Reuters

  1. China's leaders urge investigation into Zhuhai car attack that killed 35  Reuters
  2. Man Upset About Divorce Allegedly Rams Car into Crowd, Killing 35: Reports  PEOPLE
  3. China Clears Memorial To Victims Of Deadly Car Ramming Attack  Barron's
  4. Chinese Driver Plows Car Into Crowd, Killing 35 in Rare Attack  Bloomberg
  5. Recap | Zhuhai car attack, Trump taps billionaires for China diplomacy and more top stories  South China Morning Post
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