What we learned today, Saturday 24 September
That’s it for today, thanks for reading. Here are the main stories of the day:
The AFP is investigating following reports data obtained from the Optus hack is up for sale on the internet.
The foreign affairs minister, Penny Wong, says the UN security council should be reformed to better uphold its values
The Labor government has ended aspects of the cashless debit card program while introducing a “enhanced” scheme in the Northern Territory.
The body of a five-year-old boy has been pulled from a car submerged in flood waters in central western NSW.
The Sydney Swans are heading for a crushing defeat in the AFL grand final.
We will see you all back here tomorrow.
Updated
Police find body of five-year-old boy lost in NSW flood waters
New South Wales police have found the body of a young boy caught in a car swept away by flood waters overnight.
Police officers among the first responders who had stayed in the area of the incident began a search on Saturday morning to find the Toyota Hilux that had been swept away with a five-year-old boy trapped inside.
Police divers found the boy’s body in the car at 3.20pm.
Just before 11pm on Friday emergency services were called to the McGrane Way at Tullamore, near Parkes in the state’s central west, following reports two cars had been swept into flood waters.
One car, the Hilux with five passengers, had become submerged at the Genaren Creek crossing at 8pm.
Four passengers – a 37-year-old man, a 28-year-old woman along with a young boy and girl – were able to escape and cling to trees but a five-year-old boy became trapped in the car before it submerged.
Three hours later the second car entered the flood crossing. The occupants of the second vehicle were able to escape the car before it submerged where they found the passengers of the first still clinging to trees.
They alerted emergency services and a multi-agency response was initiated with officers from central west police district, the SES, Rural Fire Service and ambulance paramedics.
A boat was used to rescue the family who were all taken to Dubbo base hospital for observation. No one in the second car was injured.
The car has since been retrieved and an investigation into the circumstances surrounding the incident is under way.
A report will be prepared for the information of the coroner.
Roads in the area remain closed due to flooding, and motorists are urged to check www.livetraffic.com prior to travelling.
Updated
First home buyers to trade stamp duty for land tax under NSW Liberal plan
More than eight out of 10 homes sold in NSW would qualify for a proposal allowing first home buyers to opt for an annual land tax over paying one-off stamp duty, the government says.
About 84% of homes sold fall under the $1.5m threshold for the scheme, which the government hopes to introduce by January.
It’s part of the government’s $2.8bn housing package in the June budget.
“This is all about giving first home buyers the power to choose an alternative to upfront stamp duty,” the treasurer, Matt Kean, said on Saturday.
Instead of paying stamp duty, first home buyers can opt in to paying a $400 annual fee and 0.3% of the land value while it’s their primary residence.
The property won’t be locked into the scheme if it’s sold – existing homeowners would pay stamp duty to purchase while a first home buyer would face a similar choice.
“We want to remove one of the barriers to entering the property market and help first home buyers realise the great Australian dream of home ownership sooner,” Kean said.
The Labor opposition says the scheme won’t end with first home buyers and wants the government to wait until after the March election before introducing anything.
The Labor leader, Chris Minns, says the government has “absolutely no mandate” to introduce the scheme two months ahead of an election.
The opposition treasury spokesman, Daniel Mookhey, says the scheme is a recipe for a cost of living crisis and risks blowing a hole in the budget due to lost stamp duty revenue.
“We should be having a great debate about housing affordability in NSW. We should be having it at the election where people get to have a say,” he said.
Labor will have more to say about the housing policies it will take to the election “shortly”, Mookhey said.
– from Australian Associated Press
Updated
End of the third quarter now and it really isn’t looking good for the Swans with not much room left for a comeback (sorry, Mostafa).
Updated
Australians go on attack but German riders lead women’s road race in Wollongong
It’s all happening on the roads of Wollongong in the elite women’s road race at the UCI Road World Championships.
With about 30km to go the Australians went on the attack – first Amanda Spratt, then Grace Brown and finally Sarah Roy. The heavens opened and the rain began.
None of the Australians could make their breakaway stick, but it increased the tempo and split the peloton.
With 20km to go, the race is all over the road – bunches of two or three riders spread out in groups, with Germany’s Elisa Longo Borghini and Germany’s Liane Lippert in the lead.
Updated
Government fights to keep court judgment secret in Collaery case
The fight to keep a key court judgment secret in the case of Bernard Collaery is continuing despite the federal Labor government dropping his prosecution, AAP reports.
The Canberra lawyer had been facing charges for four years after he was accused of leaking classified information about an alleged Australian spying operation in East Timor.
Attorney-General Mark Dreyfus dropped the prosecution after Labor took office in May.
But Dreyfus is continuing the fight of his predecessor Michaelia Cash to further redact the judgment that ruled the case need not be heard in near total secrecy.
Chief Justice Lucy McCallum told an ACT court on Friday the principle came down to “a tension between transparency and secrecy”.
“You say that national security trumps transparency but there’s a pretty strong argument the other way,” she said, addressing the attorney-general’s senior counsel Perry Herzfeld.
“Ultimately, the administration of justice must be transparent.”
Chief Justice McCallum has reserved her decision.
A spokesperson for Dreyfus said it was the Commonwealth’s view that the judgments “contain sensitive information that would prejudice Australia’s national security”.
“That is why the attorney-general has made an application to the ACT Court of Appeal to consider the version of the judgments to be published,” the spokesperson said.
“The Commonwealth supports publication of the judgments with the national security information appropriately redacted.”
And with that, I will hand over the blog to Royce Kurmelovs and begin rocking back and forth, waiting for the Swans to mount an epic comeback. Thanks for reading.
Labor moves to end cashless debit card scheme
Minister for social services Amanda Rishworth has announced the government is moving to end cashless debit schemes, one of the promises taken to the election.
Rishworth told reporters that the cashless debit card was a “failed program” and that Labor will institute a transition scheme that supports “choice and control in income management to allow people to volunteer on to income management.”
Our election commitment was clear that we want to end the cashless debit card and make sure that we have a transition to voluntary income management. Other income management around the country in 12 place-based sites we have also said we want to consult with communities about the future of that income management. We will continue to consult with communities about how we transition to voluntary income management into the future.
But our first priority is ending the cashless debit card. We’ve got to be very clear that this legislation was due to sunset under the former government on the 31st of December. The former government took no steps to put a plan in place that went beyond the 31 December.
So our priority has been around ending this program, making sure that there’s a transition plan in place, allowing for an option of voluntary income management and importantly putting the support and the services in place that actually work. And that’s been our commitment.
Updated
And it is half time in the AFL grand final, with Geelong leading 62-26 against Sydney. Disappointing first half for the Swans, but there is always time.
Check our live blog for more updates:
Updated
The #AFLGF from Queenstown. pic.twitter.com/3WgaOLZsLV
— Isobel Roe (@isobelroe) September 24, 2022
Departing AFL CEO Gillon McLachlan addresses allegations against Hawthorn
So, as the GF approaches half time, I wanted to rewind a little to the grand final breakfast earlier, where departing AFL CEO Gillon McLachlan addressed some of the allegations of racism levelled against Hawthorn.
McLachlan said the league’s commission chair will decide whether he should be involved in the investigation into the club:
That obviously has to be sorted for both the complainants and those accused. That will be done.
I will say that it is incredibly important that gets resolved.
Updated
⚠️ #Flood Warning issued for #Murray and #Edward Rivers. #Moderate flooding possible at #Corowa Sunday evening. #Minor flooding continuing at #Albury. See more locations and details in warning: https://t.co/AdztI2rqg1. Follow advice from @NSWSES #NSWFloods pic.twitter.com/ugDLWuZsPF
— Bureau of Meteorology, New South Wales (@BOM_NSW) September 24, 2022
It appears some people are having difficulty watching the AFL grand final via Seven’s online platforms:
We are aware that some users are experiencing technical difficulties accessing the Grand Final on 7plus via Android TV.
— 7AFL (@7AFL) September 24, 2022
We are currently investigating and hope to have an update very soon.
We apologise for the inconvenience.
We will bring you more as it emerges.
Updated
And the AFL grand final is finally under way! Geelong hit the extremely early lead, and you can keep track at our live blog below:
Updated
Women’s road race under way at cycling world championships in Wollongong
There are just over 100km to go in the elite women’s road race at the UCI Road World Championships in Wollongong.
Some early breakaways have been brought back and the peloton is together following the Mount Keira climb up the llawarra Escarpment and subsequent descent.
The Australians have been quiet so far, staying inconspicuous in the peloton. But they would be happy with how things are tracking – none of the other favourites have successfully launched daring attacks, the key Australian riders are looking comfortable and a rainbow jersey for the home nation remains very much within reach.
An exciting few hours of racing to come.
Updated
Robbie Williams has begun his pre-game show as well. It’s all happening:
ROBBIE. WILLIAMS. pic.twitter.com/6JCwSetq0E
— 7AFL (@7AFL) September 24, 2022
HOW GOOD IS ROBBIE WILLIAMS!#TelstraPreMatch | #AFLGF pic.twitter.com/gL6j2quxrr
— AFL (@AFL) September 24, 2022
Updated
Teams for the AFL grand final are in, and our live blog is roaring to life, catch them at the link below:
Updated
Happy Grand Final morning! 🌅 #AFL #AFLGrandFinal pic.twitter.com/7vGVVD7gNc
— Melbourne Cricket Ground (@MCG) September 23, 2022
What started as a boring pix to commemorate Timor-Leste’s 20th anniversary in the United Nations, became a lot more fun when former President Xanana Gusmao decided he liked the beard of @SenatorDodson Not sure I’ve ever seen Pat’s hat come off either! @AustraliaUN #lovegippsland pic.twitter.com/L2xHambPKh
— Darren Chester MP (@DarrenChesterMP) September 23, 2022
The sun might be shining over Melbourne on Saturday but new flood warmings have been added for those further north.
⚠️Major Flood #Warning for the Macintyre River: a major flood peak is forecast at #Goondiwindi between 8.8-9.1m during Sunday morning, and a minor flood peak is forecast at #Boggabilla between 9.5-10.0m during Sunday morning. Next update at 6pm: https://t.co/FBmpsInT9o pic.twitter.com/pA5aigbog6
— Bureau of Meteorology, Queensland (@BOM_Qld) September 24, 2022
⚠️ #Flood Warning issued for #Ovens & King Rivers. #Minor flooding possible at #DockerRdBridge Saturday evening. River levels remain close to #Minor at #Wangaratta. See https://t.co/zQk6fgvnx0 for details and updates; follow advice from @vicemergency #VicFloods @vicsesnews pic.twitter.com/2iXu3pebJ9
— Bureau of Meteorology, Victoria (@BOM_Vic) September 24, 2022
Anthony Albanese and Peter Dutton aren’t the only political leaders making a point to be seen today.
I reckon Joel, Tom, Paddy and the boys have this one under control - but if you’re after a forward in the future, I know a guy.
— Dan Andrews (@DanielAndrewsMP) September 24, 2022
We’re all Geelong today. Go Cats. pic.twitter.com/Ahfhorfvzu
Anthony Albanese speaks out against discrimination at AFL grand final event
The prime minister has used a pre-grand final breakfast to speak out against discrimination and advocate for an Indigenous voice to parliament.
Speaking at the annual North Melbourne grand final breakfast on Saturday, Anthony Albanese acknowledged that “this has been a difficult week for the AFL”.
“We know that discrimination has no part in our game, just as we know discrimination has no part in our nation,” Albanese said.
Albanese also used the breakfast to highlight his push for an Indigenous voice to parliament, referencing the welcome to country ceremony that will be held ahead of Saturday’s grand final clash between the Sydney Swans and Geelong Cats.
“It’s what we do at big events. It’s a sign of respect,” he said.
This morning at the traditional North Melbourne Grand Final Breakfast, I gave a special shout-out to the people who keep the game strong at the grassroots: all the volunteers, parents, umpires, coaches and officials. pic.twitter.com/DbDKNk5mkD
— Anthony Albanese (@AlboMP) September 24, 2022
“It’s something we should extend of course to recognising Aboriginal and Torres Strait Islander people in our nation’s birth certificate, our constitution.”
The AFL Commission chairman, Richard Goyder, also acknowledged the racism scandal and this week’s “harrowing” claims.
“We must ensure that everyone is truly welcome and truly safe in our game,” he said.
The federal opposition leader, Peter Dutton, used his speech at the breakfast to talk politics, comparing the major parties to AFL clubs.
He said Labor was like Melbourne, a club with a few great seasons that would ultimately “disappoint their fans”.
Dutton likened the coalition to the Brisbane Lions, “formed by a merger of convenience” and hoping to win a premiership in three years.
– with Australian Associated Press
Updated
Fans have begun making their way to the MCG – and what a day for it.
Melbourne absolutely turning it on. Grand Final day back at the G. On-air now on @abcsport for the biggest game of the year. #AFLGF pic.twitter.com/HOGryBS4Lb
— Corbin Middlemas (@CorbinMiddlemas) September 24, 2022
Updated
Zoe Backstedt wins junior women’s road race at cycling world championships in Wollongong
At the UCI Road World Championships in Wollongong, the Welsh cyclist Zoe Backstedt has won the junior women’s road race this morning with a stunning solo effort. Talia Appleton was the best finisher for Australia, in 21st.
The elite women’s race begins in under an hour and the Australians will be among the favourites, entering the race with a seven-strong team of Grace Brown, Alexandra Manly, Georgia Baker, Sarah Roy, Brodie Chapman, Amanda Spratt and Josie Talbot.
Australia has never won the women’s road race in the event’s six-decade history, with the best result being a number of silver medals – most recently Spratt in 2018. But Brown is in strong form and is considered a genuine contender across the challenging 164.3km course, which features 2,433 metres of elevation. Expect a result by 5pm.
The men’s road race is being held tomorrow, and for the first time in cycling history, the Vatican will be represented, by the Dutch-Australian cyclist Rien Schuurhuis.
The Vatican’s participation has been officially endorsed by the Pope, but on a tough course and without any teammates, Schuurhuis will need divine intervention to be in with a shot at a medal.
Updated
Labor in front ahead of NSW state election, polling finds
New polling suggests NSW Labor is ahead six months out from the state election, AAP reports.
The Newspoll, published in The Australian, had Labor and the Coalition neck-and-neck on a two-party preferred basis across three consecutive polls since March 2018.
The latest results on Saturday show Labor taking a four-point lead.
A Resolve Strategic poll published in the Sydney Morning Herald showed Labor securing 43% of the primary vote, compared to 30% for the Coalition.
While it’s good news for the party, it’s less so for the Labor leader, Chris Minns, whose support as preferred premier dropped from 32% in February.
Premier Dominic Perrottet lost one point and the pair are locked at 28%, with 44% undecided.
Resolve’s first-preference results from Sunday showed a marked change from February’s poll, when the Liberals and Nationals led 37% to 34%.
Since then, the government has faced the John Barilaro trade appointment scandal and bullying allegations that led to a minister being sacked.
The Newspoll was conducted between 19 and 22 September and the Resolve poll on 18 September.
Updated
Our Dear Leader is on the Swans bandwagon.#GoSwans #AFLGF ❤️🤍❤️🤍 pic.twitter.com/rqKJSf0not
— The Instigator 🌏🦄🐧🦞 (@Thee_Instig8or) September 23, 2022
AFL is just like politics, Peter Dutton tells grand final breakfast
At the same grand final breakfast mentioned below, the opposition leader, Peter Dutton, also addressed attendees, saying AFL is just like politics.
Building on his loose analogy, Dutton said the Speaker of the House of Representatives was just like an umpire, and that debates about the future of the nation were exactly the same as football:
The teals are a bit like Greater Western Sydney, a cashed up motley crew with a few extra draft picks but most of us are still wondering how on earth they got into the competition.
The Coalition, on the other hand, is a bit like watching the Brisbane Lions. A merger of convenience back in the day, three consecutive premierships in recent history but couldn’t back it up with a fourth.
Uh huh.
Dutton tipped the Cats to win by 10 points by the way.
Updated
Forecast for the @AFLGrandFinal is for partly cloudy but dry skies and 14 °C. Temps will drop to 12°C at @MCG by the end of the game.
— Bureau of Meteorology, Australia (@BOM_au) September 23, 2022
Follow all of the game-day weather at https://t.co/C5Y068MjvV or the #BOMWeather App. #AFLGrandFinal #AFL pic.twitter.com/jDijEcwLci
Racism has no part in AFL, PM tells grand final breakfast
OK, returning to today’s grand final, the prime minister, Anthony Albanese, addressed the grand final breakfast earlier, saying it had been a “difficult week” for the AFL.
The PM addressed the racism allegations levelled against the Hawks, saying he was confident the league would deal with them “openly and transparently”:
We know that discrimination has no part in our game, just as discrimination has no part in our country.
The PM also took a stab at his predecessor, comparing the Morrison government immigration policy to the controversial AFL parade on the Yarra yesterday:
To Gillo, I would say having watched the parade on the Yarra yesterday to quote a former prime minister: ‘We do need to stop the boats.’
I’m really worried that when I was away last week in London, Richard Marles was the acting prime minister, so I’m worried he has sworn himself in as the minister to the Cats and approved yet another renovation of Kardinia Park.
Updated
Wong calls on China to rein in Putin, announces bid for UN security council seat
So foreign minister Penny Wong has used her address at the UN general assembly to call on China to help put an end to the war in Ukraine.
It comes a day after meeting with Chinese counterpart Wang Yi face to face, where she reportedly delivered a similar message.
In her speech, she said Russia had misused its veto power to perpetrate “unchecked abuse of the UN charter”:
We cannot be passive when big powers flout the rules. Aside from terrible damage and loss of life in Ukraine, Russia’s invasion is compounding human suffering, propelling the global crisis in food and energy security. In my own region, where geopolitical contest becomes ever sharper, we must ensure that competition does not escalate into conflict.
Because if conflict were to break out in the Indo-Pacific, it would be catastrophic for our people and our prosperity. And with the Indo-Pacific’s centrality to global prosperity and security, the cost would extend far beyond our region and reach into every life. So, I say to small and medium-sized nations like my own, we are more than just supporting players in a grand drama of global geopolitics on a stage dominated by great powers.
It is up to all of us to create the kind of world to which we aspire - stable, peaceful, prosperous, and respectful of sovereignty. That is the very rationale for the United Nations itself.
Wong also used her address to announce Australia will be seeking a seat on the UN Security Council for 2029-2030. She said Australia will also seek reform of the UN, to keep it “vital”:
Australia is resolved to these tasks in all our diplomacy in the UN and beyond. It is why we seek a seat on the UN Security Council for 2029-2030. It is why we seek reform of the Security Council with greater permanent representation for Africa, Latin America, and Asia, including India and Japan.
Being genuinely committed to the United Nations means being genuinely committed to reforming the United Nations and keeping it vital.
Updated
Wong addresses war in Ukraine, says the world is looking at China
That is why Russia’s illegal, immoral invasion of Ukraine cannot be normalised and it cannot be minimised. Russia’s attack on Ukraine is an attack on all smaller countries. It is an assertion that a larger country is entitled to subjugate a smaller neighbour, to decide whether another country can even exist. It was never intended that the Security Council veto power would be used to enable unchecked abuse of the UN Charter by the very countries that were given the veto.
So, it is especially important for countries that play leading roles in international fora, and countries with influence on Russia, to exert their influence to end this war. In this, the world looks to China, a great power, a permanent member of the Security Council with a no-limits partnership with Russia. Mr Putin’s weak and desperate nuclear threats underline the danger that nuclear weapons pose to us all, and the urgent need for progress on nuclear disarmament.
Australia has always pursued a world without nuclear weapons, and we will redouble our efforts towards this goal and to strengthening the non-proliferation regime. The death and destruction in Ukraine reminds us all how much we have to lose if we fail to protect the UN Charter.
It reminds us that each nation must make its own choices and exercise its own agency. We cannot leave it to the big powers. And we cannot be passive when big powers flout the rules.
Updated
Wong on climate change and Australia’s engagement with the Pacific
Australians are clear that they want urgent and serious action, and they have given their government a mandate. Among the first acts of the new Australian Government has been to submit our ambition, nationally determined contribution to the UN Framework Convention on Climate Change, and we have just passed legislation that makes these targets law. Our climate policies mean that, within this decade, 83% of Australia’s energy supply will be renewable. We want to help the global energy transition. Australia will be a renewable energy superpower.
And while we are playing our part to reduce our own emissions, we are working in our region to support Pacific countries, which have the most to lose from the changing climate. Nothing is more central to the security and economies of the Pacific than climate change. As Pacific leaders themselves put it plainly in the first article of the 2018 Pacific Islands Forum’s Declaration on Regional Security, we reaffirmed that climate change remains the single greatest threat to the livelihoods, security, and wellbeing of the peoples of the Pacific, and our commitment to progress the implementation of the Paris Agreement.
In my first months as foreign minister, I have visited six Pacific Islands Forum countries. It is a clear sign of our priorities that, by the end of this year, I will have visited nearly all. Australians want to enhance our defence, maritime, and economic cooperation with Pacific Island countries because our peace and prosperity are one, and we want to be the Pacific’s partner of choice for development and security.
Updated
Wong highlights decline in the UN’s Human Development Index
Despite inheriting the biggest debt in our nation’s history, the new Australian Government is determined to play its part in supporting the development of other nations, particularly in our region.
We are alarmed that, for the first time, the UN’s Human Development Index has declined for two consecutive years – in 2020 and 2021 – and the impact of this decline has been most severe on women and girls, with nearly half a billion women and girls now living in extreme poverty. And the global food security crisis is increasingly grave.
More than 800 million people go to bed hungry each night. 345 million people face acute food insecurity. 50 million people across 45 countries are on the brink of famine. This is a growing scale of human suffering that threatens untold global instability. Australia is increasing our contribution to development assistant by over a billion dollars.
If we are ever to achieve the sustainable development goals which represent our collective vision for minimum living standards for everyone living on this planet, every country needs to do more.
Over the coming months, we are designing a new development policy outlining how we will play our part in an era of crisis, and how we will help developing countries without driving them into unsustainable debt.
Updated
Penny Wong addresses UN
Foreign minister Penny Wong is addressing the UN general assembly in New York now, and has begun reflecting on the diversity of the Albanese government, and by discussing the government’s determination to make “progress on the national journey of healing with Indigenous Australians, the First Peoples of our continent”:
The Australian parliament I serve in is ever more reflective of our modern nation, both enriched by their diversity. And this follows the collective decision of the Australian people to turn the page and write a new future for themselves. Newly elected parliamentarians have origins from across the world and Indigenous Australians have been elected in record numbers and serve in the ministry in record numbers.
The new Australian government is determined to make real progress on the national journey of healing with Indigenous Australians, the First Peoples of our continent. And as foreign minister, I am determined to see First Nations perspective at the heart of Australian foreign policy, and this week I have been encouraged by discussions with other countries on their own journeys. I am humbled to be guided in these efforts by First Nations colleagues.
Here in New York, I am joined by senator Pat Dodson. To many Australians, senator Dodson is the father of reconciliation. Senator Dodson is a Yawuru man from Broome in the remote north of Australia.
Like many First Nations people, he walks in two worlds – as a senator and leader in our parliament, and as an Elder, native title holder and ceremony man for his people. In our government, senator Dodson has been tasked with responding to a call from First Nations peoples for a constitutionally enshrined Voice to the Australian Parliament, as well as treaty and truth-telling.
With daunting challenges facing the world, we have much to learn from First Nations peoples, both at home and in international fora, and elevating First Nations voices – including right here – has never been more important.
Updated
⚠️ Final #Flood Warning issued for #Wilsons River. #Lismore peaked below the minor flood level. Flooding is no longer expected at Lismore & no further warnings will be issued for this event. See https://t.co/Ss766eSCrL for details & updates; follow @NSWSES advice. #NSWFloods pic.twitter.com/wRhpxq3LmB
— Bureau of Meteorology, New South Wales (@BOM_NSW) September 23, 2022
⚠️Final #Flood Warning issued for #Belubula River. #Canowindra peaked below the minor flood level. Flooding is no longer expected. No further warnings will be issued for this event. See https://t.co/Ss766eSCrL for details & updates; follow @NSWSES advice. #NSWFloods pic.twitter.com/M77nzYMWeh
— Bureau of Meteorology, New South Wales (@BOM_NSW) September 23, 2022
While many of us will be distracted by finals over the weekend, more than a few eyes are looking at financial markets and wondering if those gathering headwinds might be about to turn gale-force.
Overnight, US and European stocks mostly retreated after what Bloomberg, a financial news agency, described as a week of “monetary mania” pushed Wall Street towards a “breaking point”.
For now, a drop in broad measures such as the S&P 500 of almost 5% over five days doesn’t sound very steep. But with central banks lifting interest rates in many parts of the world, prices of many assets are heading in one direction.
We looks at some of those portents yesterday, with high-profile economic historian Adam Tooze, in case you missed it:
(There was a lot that we might have mentioned, including why Tooze’s view of China’s outlook is also clouded by that country’s handling of the Covid pandemic. The failure to vaccinate the most vulnerable, namely the elderly, and insistence on creating its own MRNA vaccine when others are available, is baffling, and raises deep questions about its public policy nous, he says.)
Anyway, back to the markets. The US dollar despite America’s lurching towards a recession has soared to a two-decade high, and is not that far off parity with the UK pound.
The Australian dollar has been slipping sharply, including in the last day.
The Australian dollar, which was above 75 US cents at the end of March, is now just above 65 US cents after another big fall on Friday. That will import some inflation at a time when the RBA would rather want less of it. pic.twitter.com/2EzFyVLyLX
— Peter Hannam (@p_hannam) September 23, 2022
Investors now expect the US Federal Reserve to hike rates faster and higher to get inflation back below 2%. The Reserve Bank‘s target band is a bit more generous at 2%-3%, but markets have lately been lifting their expectations to how far Australia’s central bank will raise its cash rate.
Taking cues from OS, investors have elevated expectations of how high the RBA will lift its cash rate. They now expect 4% by April and remaining above that into 2024. A 50bp rise on Oct 4th is now about a 4-in-5 chance. (Economists are not so hawkish, predicting cuts in 2023.) pic.twitter.com/ocVTwqB4Vo
— Peter Hannam (@p_hannam) September 23, 2022
Motorists, meanwhile, have their own reason to gripe (unless you have an electric vehicle), with bowser prices averaging close to $1.80 a litre in places such as NSW and $1.85 across Melbourne on Saturday morning.
Come early Thursday, the full fuel excise will be restored after the six-month halving (a pre-election “sweetener” in the Morrison government’s parting budget), adding close to 24 cents a litre - although presumably not all at once.
That global oil prices tumbled almost 6% in the past day (at least in US-dollar terms) means there will be some relief down the track although it will not be much consolation if the route turns out to be a rout.
Penultimate day of UCI Road Cycling World Championships underway
The penultimate day of the UCI Road Cycling World Championships is underway in Wollongong, with the junior women’s road race on the road. The elite women roll out from Helensburgh, just south of Sydney, at 12.25pm, with their race expected to finish by 5pm.
Australia’s Grace Brown is among the favourites – she won silver in the time trial last Sunday – and is surrounded by a strong team, including Amanda Spratt and Alexandra Manly.
The Dutch are perennial favourites, but one of their lead riders – Annemiek van Vleuten – will be racing with a fractured elbow after a crash during the week.
Off the road, there’s controversy brewing with the international governing body, the UCI, accused of undermining press freedom by denying an Australian journalist press accreditation to cover the championships, following his critical reporting of the UCI’s activities.
The UCI president is due to attend a press conference later this morning and will no doubt be asked about the concerning story – reported today by Guardian Australia.
Updated
A trough over eastern #NSW is expected to generate showers and #thunderstorms across the region today. Severe thunderstorms are possible for some locations in the east this afternoon, mainly for the risk of localised heavy rainfall and damaging winds: https://t.co/BaSDkfxI5Y pic.twitter.com/8UYzkAkMq3
— Bureau of Meteorology, New South Wales (@BOM_NSW) September 23, 2022
Delta Goodrem and Robbie Williams to perform at AFL Grand Final
With the AFL Grand Final always come discussions on who will be performing pre-game entertainment, and they have a doozy for fans of early-2000s nostalgia.
Delta Goodrem and Robbie Williams will be opening the Grand Final this year, a throwback to the good times of the early 2000s (and perhaps a reminder of the Swans drought breaking 2005 flag?).
Talk about an entrance… 👏😍 @DeltaGoodrem #AFLGF pic.twitter.com/lc9GoV7xn2
— AFL (@AFL) September 22, 2022
This of course comes only a couple of weeks after Goodrem performed the national anthem at the Brisbane v Melbourne semi-final:
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NSW SES concerned for major flooding in Gunnedah
The NSW SES has released its operational statistics overnight, having responded to 745 requests for assistance since last Wednesday.
They have also performed 56 flood rescues in that time.
Overnight, the SES responded to 144 requests for help and performed five flood rescues.
In a statement, the SES said they were still concerned for Gunnedah:
Gunnedah is expected to reach major flooding later this morning. Flood levels should be close to or exceeding the levels reached last week. Residents have been door knocked and are prepared with more than 1,000 sandbags being issued.
There continues to be many operational areas across NSW with major flooding happening on six rivers along the Macquarie, Lachlan, Bogan, Gwyrdir, Namoi and Culoga. Minor to moderate flooding is possible in several coastal river catchments in the Northern Rivers, mid-north coast and Hunter districts, however the main risk is flash flooding within these areas.
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Penny Wong speaks at the UN general assembly
Australia’s climate change policies, diverse parliament, work with First Nations people and engagement in the Asia-Pacific are among the reasons it should have a spot on the UN security council, foreign affairs minister Penny Wong told the UN general assembly late last night.
Wong said:
It is my honour to speak on behalf of a country that is home to people from more than 300 different ancestries and to the oldest continuous culture on the planet. Like this hall, Australia is an assembly of the world’s peoples.
When Australians look out to the world, we see ourselves reflected in it. Equally, the world can see itself reflected in Australia.
Senator Patrick Dodson, a Yawuru man, was with Wong in New York as Australia’s special envoy for reconciliation and implementation of the Uluru statement from the heart.
There is a record number of First Nations parliamentarians, Wong said, with other MPs from “across the world”. She said:
Australians want “urgent and serious action” on climate change, and that Australia had legislated its emissions reduction target and would become a “renewable energy superpower”.
Australians are “part of the Pacific family” and climate change is the “single greatest threat” to those people.
Russian president Vladimir Putin’s nuclear threats highlighted the “urgent need for progress on nuclear disarmament”, and that Australia would redouble its efforts towards disarmament and strengthening the non-proliferation regime.
The government is working on a new development policy, and increasing its development spending by more than a billion dollars.
Conflict in the Indo Pacific would be “catastrophic”, Wong said, and all countries should ask themselves what they could do to prevent it:
How do we acquit our responsibilities to constrain tensions - to apply the brakes before the momentum for conflict in our region or beyond becomes unstoppable? Australia is resolved to these tasks, in all our diplomacy, in the UN and beyond.
It is why we seek a seat on the UN Security Council for 2029-2030.
It is why we seek reform of the Security Council, with greater permanent representation for Africa, Latin America, and Asia, including India and Japan.
We know that we will always be better off in a world where rules and norms – whether on trade, the maritime domain or military engagement, on the environment or human rights – are clear, mutually negotiated and consistently followed.
History teaches us that the alternative to what we have built here is conflict and chaos.
Australia has been a non-permanent member of the council, which can authorise the deployment of troops from UN nations, mandate ceasefires and impose economic penalties on countries, on five previous occasions.
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Good morning
Good morning, Mostafa Rachwani with you on what already looks like a fantastic Grand Final day.
We begin in Melbourne, where the great Sydney Swans take on Geelong to decide the 2022 premiership winner with first bounce at 2.30pm.
We will be brining you updates, and links to our live blog as well, with a big day of reactions and heated discussion expected. I am backing the Swans, but I think it should be a cracking afternoon regardless of who wins.
Elsewhere, NSW police have confirmed a five-year-old child is missing after two cars were swept away by flood waters in central-western New South Wales. There are currently 19 flood warnings across the state, after being lashed by heavy rainfall overnight.
The Naomi River passed the major flood mark last night, currently sitting at 8.21 meters and rising, with Gunnedah in the state’s north-east attracting the most concern.
We’ll bring you the latest on that, and everything else happening around the country.
