Student debts are on track to have increased at least $12.3bn during Labor’s first three years of government, new analysis reveals, prompting an urgent call for action in next month’s budget. New Parliamentary Library projections prepared for the Greens show the indexation rate set to hit student debts on June 1 will come in between … Read more
The Albanese government has doubled down on its attempts to push back against China’s chokehold on the critical minerals supply chain, announcing it will pour $585m of taxpayer funds into projects producing key inputs for batteries, renewables and electric cars. Queensland-based Alpha Hpa, which specialises in the production of ultra-high purity alumina used in LED … Read more
Coles and Woolworths will face a grilling on Tuesday when the appear before a Senate inquiry set to probe the supermarket giants’ executives over high grocery prices. Both supermarkets have faced criticism in recent years for raking in multi-billion dollar profits during the cost-0f-living crisis, and their market dominance has been called into question as … Read more
The Australian sharemarket closed lower on Monday, as investors priced in rising geopolitical uncertainty in the Middle East. The benchmark ASX 200 fell 0.46 per cent, or 35.6 points, to end the session at 7752.5, while the broader All Ordinaries index slipped 0.51 per cent, or 40.8 points, to end at 8009.4. Tech stocks suffered … Read more
A signal Australia is prepared to recognise a Palestinian state has been branded by critics as a win for Hamas that rewards terrorists. Foreign Minister Penny Wong laid the groundwork for the policy shift in a major address to a security conference at the Australian National University, saying statehood could help “build momentum towards a … Read more
Treasurer Jim Chalmers has launched a personal spray against the opponents of his mooted mergers overhaul, suggesting his Coalition and Green counterparts know little about the economy. The changes, unveiled by Dr Chalmers on Wednesday, will bolster the powers of the Australian Competition and Consumer Commission (ACCC) by establishing a mandatory notification scheme for takeovers … Read more
The government has paid out $1.31bn in redress to institutional child sexual abuse survivors, but legal services advocating for them fear an uncertain and underfunded future unless there is an urgent intervention. In a joint inquiry into the national redress scheme on Monday, MPs and senators heard from the Department of Social Services that more … Read more
A senior Liberal says Israel’s killings of aid workers should have been prevented but has refused to call the attacks a breach of international law, as the Coalition faces accusations of being “weak” amid outrage over Israel’s conduct in Gaza. Two Israeli officers were sacked after an investigation found drone strikes that hit three charity … Read more
A landmark change to Australian workers rights could have a major impact on the thousands who work from home, according to an expert. From August, Australians working at large organisations will be legally protected against answering calls, texts and emails from their bosses after hours deemed “unreasonable” when it comes into effect. For those working … Read more
Australians will foot the $4.7bn bill to bolster the UK’s production of nuclear reactors, which the government says must be supported in order for the AUKUS submarine fleet to be delivered. Defence Minister Richard Marles and Foreign Minister Penny Wong, alongside their UK counterparts Grant Shapps and David Cameron on Friday unveiled the crucial next … Read more
