What we learned today, Friday 7 October
And with that, we are going to put the blog to bed. Thank you for spending part of your day with us.
Before we go, let’s go over the big headlines:
Big polluters will pay for offsets instead of cutting them, Greens say
Budget will see ‘difficult decisions for difficult times’: treasurer
Fifty-seven flood warnings in place for NSW as SES receives 800 calls for help
Adam Bandt says systemic cost of living relief will help Australians more than stage-three tax cuts
‘Impossible to comprehend the heartbreak’: Albanese sends condolences to Thailand
‘Too important to stuff up’: Inland Rail to be subject of independent review
Albanese says trust between Australia and Solomon Islands is vital
Dutton accuses government of not giving straight answers, in throwback to Rudd and Gillard
AMA warns another wave of Covid is coming and it is ‘too early’ to ease isolation rules
Australian army chief warns Putin’s nuclear threat must be taken ‘very seriously’
Sydney’s Warragamba dam spill to pick up this weekend
Defence support of the national Covid response comes to an end
Peter Dutton attacks Daniel Andrews over Essendon football saga
NCA bomber Perre jailed for life
Victorian emergency services respond to over 300 requests for assistance amid flooding
Cyber breaches risk weakening banks: RBA
Treasurer says the ‘world economy is a dangerous place right now’
NT bans use of ‘inhumane and dangerous’ spithoods on youths in police custody
Melbourne downpour delivers half of October’s average rainfall in one hour
Shark attack off the Pilbara coast in Western Australia
Until tomorrow – have a great night, and stay safe!
Updated
I have an update on today’s shark attack from AAP:
A man’s arm was almost severed when he was attacked by a shark while spearfishing off the Pilbara coast in Western Australia.
Paramedics were called to Port Hedland on Friday to treat the man aged in his 30s, who sustained serious injuries.
He was taken to shore by boat and an ambulance rushed him to Hedland Health Campus under priority one conditions.
Fisheries officials said the man had been bitten after spearing a fish, but the species of the shark was unknown.
A Royal Flying Doctor Service spokeswoman said the man had sustained multiple injuries and his left arm had “nearly been severed”.
A crew will be dispatched from Meekatharra to collect the man in Port Hedland. He is expected to arrive in Perth for treatment on Friday evening.
The WA Country Health Service said the man was in a stable condition at the Hedland hospital.
NT bans use of ‘inhumane and dangerous’ spithoods on youths in police custody
From AAP:
The announcement on Friday has divided opinion while bringing the NT into line with other Australian jurisdictions.
NT minister for police Kate Worden said the hoods would continue to be used on adults in watchhouses when required and police would adopt a safer version of the device.
The NT Council of Social Services said it was a step in the right direction but the change needed to be legislated for children and adults.
“It is an inhumane and dangerous practice,” chief executive Deborah Di Natale said.
The Aboriginal Medical Services Alliance Northern Territory agreed the ban needed to be legislated and said it should be extended to cover people in custody and detention.
“There is no place for the use of spithoods in a modern justice and corrections system, full stop,” chief executive John Paterson said.
Opposition leader Lia Finocchiaro said the ban would lead to more police being spat on while on duty.
“It is a dark day for our police and another win for the lobby groups and criminals,” she said.
Updated
Walkley Foundation appoints counsel to advise on award for Andrew Laming story
The Walkley Foundation has appointed William Houghton KC to provide independent legal advice about the status of the 2021 Walkley award for TV news which was awarded to Channel Nine journalists Peter Fegan and Rebeka Powell.
The story, about the former MP Andrew Laming, has been the subject of legal action by the ex-Liberal/National politician, who has reached a confidential settlement in a defamation case he brought against Nine over a broadcast in March last year.
Nine Entertainment agreed to pay Laming an undisclosed amount and apologise for the story on Nine News Queensland which falsely accused him of taking an “upskirting” photograph of a woman while she was on her knees stacking a bar fridge.
“The Walkley Foundation considers that there are particular circumstances to be considered in respect of this award and subsequent litigation concerning one of the reports. Interested parties in relation to this particular award have been invited to provide materials in respect of whether the award should be revoked, annulled or there should be some other outcome,” it said in a statement on Friday.
Updated
Money from fuel subsidies could be used to install more than 72,000 electric vehicle charging stations, Climate Council says
From AAP:
With the federal budget two weeks away, the Climate Council is calling on the Albanese government to replace $11.6 billion spent on fossil fuel subsidies with “structural” environmentally friendly investments that could lower costs for households.
In a report released on Friday, the Climate Council says the government could use money from fuel subsidies to install more than 72,000 electric vehicle charging stations – one for every 12 kilometres of road – or install solar panels to power 1.5 million low-income households.
Climate Council advocacy head Dr Jennifer Rayner said the organisation based its figures on fossil fuel subsidies paid in the 2021-2022 financial year and five projects it considered “better bets”.
In addition to solar panels and EV charging stations, Dr Rayner said the funds could be used to replace all diesel buses in Sydney, Melbourne and Brisbane, create 138 renewable energy storage facilities similar to Victoria’s Big Battery in Geelong, or fund another 15 pumped hydro projects to shore up the energy grid.
Dr Rayner said each of the projects was environmentally friendly and some would offer cost savings to households under financial pressure.
“If we’re giving solar panels to lower-income families, that’s going to help with their bills and reduce the cost of living,” she said.
“This is an opportunity to make big structural changes.”
Updated
Richard Marles: Australia’s focus is on delivering ‘current contribution’ of military supplies to Ukraine
The Albanese government says it is considering further ways to support to Ukraine “over the long term” but its current focus is on delivering the military supplies it has already promised.
Guardian Australia understands an announcement about another round of defence support is not imminent.
Ukraine’s president, Volodymyr Zelenskiy, told the Lowy Institute last night he was “very grateful” that Australia was preparing “a significant package” that would include “not only small arms but some heavy weapons as well”.
When asked today about the issue, a spokesperson for the deputy prime minister, Richard Marles, said:
Whilst Ukraine is a long way from Australia, we are committed to protecting the rules-based order. At the moment the Australian government is committed to delivering on its current contribution to Ukraine, including 60 Bushmasters and 28 M113AS4s Armoured Vehicles. Work across government is continuing to look at how Australia can best provide support to Ukraine over the long term.
It is understood the majority of the promised Bushmasters have arrived in Ukraine, but officials are not revealing the exact numbers for operational security reasons and some of them have not reached the country yet. Deliveries of the other armoured vehicles are also ongoing.
The opposition’s defence spokesperson, Andrew Hastie, said lives depended on the assistance arriving quickly:
Russia’s illegal and unprovoked invasion of Ukraine is a bloody and brutal reminder of the threats to peace and prosperity posed by desperate authoritarian regimes like Russia ...
In government, we responded quickly and strongly to Ukraine’s requests for assistance – Mr Marles has for some time foreshadowed additional assistance for Ukraine, what is holding up this assistance?This government and Mr Marles must confirm today what this assistance will look like and when it will be delivered – lives depend on it.
Updated
Melbourne downpour delivers half of October’s average rainfall in one hour
AAP reports some suburbs received 30 millimetres of rain in as little as 20 minutes on Friday.
As of 4.30pm, authorities were concerned about two dams in Craigieburn in the city’s north, with fears a large private dam could collapse and affect local roads.
There were also moderate flood warnings for the Murray River downstream of the Hume Dam in the state’s north and the Loddon River at Laanecoorie, near Bendigo.
Authorities are bracing for major flooding on Saturday along the Avoca River at Charleton, north-west of Bendigo.
The Friday deluge followed a night of wild weather, with the SES receiving more than 600 calls for help in 24 hours.
The Avoca and Maryborough areas in regional Victoria received 50 to 65mm in an hour, which is roughly one month’s worth of rain.
Areas around Frankston, Bayside, Woodend and the Maryborough district were also hard-hit.
Updated
Kyle Sandilands apologises for slurs
Radio announcer Kyle Sandilands and radio network ARN have apologised for comments made by the presenter on his leading FM breakfast program, which included the slur “spazzes”.
“ARN does not endorse or condone the comments made by Kyle Sandilands, nor the language that was used or the context with which it was spoken during a segment broadcast on Thursday 29th September,” the network said on Friday.
Updated
Campers in for a wet weekend at Bathurst 1000
Campers at the Bathurst 1000 are bracing for muddy, stormy and potentially dangerous conditions as a large rain band crosses central and eastern NSW, AAP has reported.
A trough and cold front moved across the state on Friday, bringing further widespread rain to the eastern half of NSW, including the western slopes and ranges, central NSW and the south coast.
The weather bureau has placed many eastern catchments on flood watch, including Hunter and the Greater Sydney regions, as it waits to see exactly where the most intense rainfall occurs.
“Behind the rain band, there is a lot of convection which means we’re getting some really decent thunderstorms,” a bureau spokesperson told AAP on Friday.
Up to 100mm of rain could fall at motorsport mecca Mount Panorama over the weekend, potentially leading to flooding along the Macquarie River in Bathurst.
Updated
Man fined for destroying trees on NT sacred site
A NT court has fined a man $32,000 after he backed his truck into dozens of trees in a sacred site as part of road works in remote Arnhem Land.
On September 10, 2020, William Hayes was working near Mount Catt as part of his company Hayes Enterprises (NT) Pty Ltd when he drove a front-end loader onto Aboriginal Land Trust land and knocked down more than 60 trees inside a sacred ceremonial site.
Hayes pleaded guilty to conducting the works without approval under the NT Aboriginal Sacred Sites legislation.
Dr Sophie Creighton, A/CEO of the Aboriginal Areas Protection Authority (AAPA) said landholders can not “recklessly” clear country.
“The immense suffering and harm done here could have been avoided. Pastoralists need to listen, and to work with custodians to protect these cultural places of national significance.”
Senior custodian Kenny Murray said in the statement by AAPA that he welcomed the conviction but the damage is irreparable.
The site is a culturally sacred ceremonial ground for the Gunapipi peoples and holds special meaning for many people connected across Arnhem Land.
“The damage that has been done to our trees, it is like physical harm to our family because the spirits of our elders are in those trees,” Murray said.
Updated
Cannon-Brookes gets his place in the sun with new chairmanship
Not sated by his tilt at AGL (see earlier post), Mike Cannon-Brookes has added another renewable-energy feather to his hat (or is it baseball cap?).
Already a “cornerstone” investor in Sun Cable, the company planning to build giant solar farms in the desert to power Darwin and Singapore (and possibly Indonesia) via a giant cable, MCB has now taken on the role of a director and inaugural chair.
Sun Cable’s projects could be worth as much as $30bn, and investors such as MCB have already agreed to tip in at least $210m. Not just whimsy, in other words.
“Mike is a visionary leader whose demonstrated passion and commitment for the energy transition strongly aligns with Sun Cable’s mission,” said David Griffin, founder and CEO of Sun Cable.
MCB is similarly upbeat as you might expect, referring to the main PowerLink project as “world-scale infrastructure”.
“It will unlock incredible value for all countries involved, work to decarbonise three major economies and transform how giga-scale solar energy gets built,” he said.
Updated
Another showdown looms between AGL and Cannon-Brookes
Just over a week after AGL announced it was bowing to demands from investors by bringing forward the closure date of its coal-fired power station in Victoria, another battle is brewing with the company’s biggest shareholder Mike Cannon-Brookes.
The Atlassian billionaire has amassed an 11.3% stake in Australia’s largest electricity generator and last month issued through his family company, Grok Ventures, a list of the four directors he wanted added to AGL’s board.
Since the board has five members now (surprisingly few for a firm so big), accepting MCB’s Fab Four potentially would have given him control. One of the current five, Miles George, is seen as particularly renewables friendly for this past role as head of Infigen Energy, a windfarm operator.
Anyway, AGL has rejected that three of the proposed members, telling shareholders today it would only recommend Mark Twidell, a solar veteran whose roles have included a stint with Tesla, for the board. Adding all four “would not add to the overall effectiveness of the board”, it said.
Since the board can only have a maximum of ten members, taking on all of MCB’s picks could also limit AGL’s ability to lure talent with “priority skills”, AGL said. Those overlooked are Kerry Schott, the industry veteran who until recently chaired the Energy Security Board, as well as John Pollaers and Christine Holman.
Not surprisingly, Grok isn’t impressed and plans to engage “directly” with AGL’s 150,000 shareholders in the lead up to its 15 November Annual General Meeting “to explain the merits of looking to fresh faces to provide a broader mix of skills and experience - as well as additional capabilities to undertake the monumental amount of work required by the board”.
“It makes no sense to us – or a growing list of shareholders – that the board is rejecting highly qualified, independent directors who are committed to helping them make AGL the leading green gentailer in the world,” Grok said.
Somewhat ominously, Grok said the rejection was “yet another poor decision that doesn’t seem to be rooted in logical business decisions and certainly ignores the threats and opportunities facing AGL”, adding to previous comments that it had “reservations” about the appointment of Patricia McKenzie as AGL’s chair.
AGL’s share price, meanwhile, was down almost 3% for the day in late trading compared with a 0.5% decline in the benchmark ASX200 index.
Updated
I have a bit more information for you on the shark attack in WA here:
Guardian Photographer Ellen Smith was just down at Dights Falls in Melbourne and, oh boy, look at these pics!
Australian athlete Georgia O’Callaghan was down there too, having some serious fun:
Updated
PM doesn’t rule out future amendments to tax cuts
The prime minister, Anthony Albanese, has left the door open to potentially amending the already legislated stage-three tax cuts, not expressly ruling out making any changes when asked point-blank if reforms could be considered.
Treasurer Jim Chalmers also said his upcoming federal budget would be about “following the responsible path; not the path of least resistance”, as the Coalition braces for a fight if the government looks to tinker with the Morrison-era tax changes.
Albanese has kept a low media profile this week as debate raged publicly and privately inside the government on the $244 billion stage-three changes, which will go to taxpayers earning over $45,000 but will overwhelmingly benefit those on higher incomes. After just one solitary radio interview since last Friday (when he was asked about cricket and Midnight Oil, not the news), Albanese told a brief press conference that the government’s view hasn’t changed.
“There’s been meetings, obviously, this week about [the expenditure review committee] and our processes. We’ll continue to get on with making sure that we deliver a budget that is responsible, that acknowledges the pressures that are on it,” Albanese said, when asked about the tax debate.
When asked if he would guarantee no changes to the stage-three tax cuts, the PM responded: “what I have said is that the Government has not changed our position.”
He did not rule out making changes in future.
In a speech in Brisbane, Chalmers said the government would “have to make some difficult decisions with this budget. Difficult decisions for difficult times.”
He didn’t speak specifically about tax cuts, but said the government would make “the right calls for the right reasons... We must be serious about rebuilding our budget buffers – particularly given the deteriorating global outlook.”
Updated
Engineers attempting to drain Melbourne dam before it bursts
There are concerns a private dam in Melbourne may burst, with the road currently closed between Greenvale and Craigieburn.
The Department of Transport’s Chris Miller told 3AW that the SES and police were on the scene.
“The concern is that the bank will actually burst and obviously if that gives way, huge amounts of water will come out,” he said.
Mickleham road is unlikely to reopen for up to 2 days (closed between Destination Drive and Point Ridley Drive in Craigieburn / Yuroke) as engineers start the delicate race to drain the leaking dam before a 3.5m wall “fails catastrophically”. @7NewsMelbourne pic.twitter.com/j52TLGQ4V0
— Christie Cooper (@ChristieCooper7) October 7, 2022
Updated
Unconfirmed reports of shark attack in WA
Emergency services are attending to an incident at Port Hedland, in Western Australia, that has been reported - although not confirmed – to involve a shark.
Details are scant at this stage but emergency services confirmed to Guardian Australia that the person involved is alive. Multiple agencies are on the scene.
Experts from WA’s Department of Primary Industries are investigating the incident and if it is confirmed to be shark-related, will issue a “shark watch” alert as soon as possible.
Updated
Victorian emergency services received 600 requests for assistance
A member of the Victorian SES (who was not introduced by name) has said they have received 600 requests for assistance:
With that rainfall that we’ve seen in the storms overnight, SES volunteers and our emergency services have now responded to over 600 requests for assistance.
Some of the busiest areas for that has been around Frankston and the bayside suburbs, also across Woodend and the Maryborough districts. Over 330 of those have related to flash flooding impacts or leaking roofs and the like.
We had over 120 requests for assistance representing to building damage associated with some of the damaging winds with those storms and thunderstorms and we have seen a further 100 requests for assistance for trees down.
He says they have seen people drive through floodwaters:
We know the single largest death or cause of death in flooding is people attempting to drive through floodwaters. In the last 24 hours, we have seen 15 people attempt to drive through floodwaters both here in metropolitan areas and also in the areas of Maryborough… and the like. Again, we can’t appeal enough to people that driving through floodwaters could be the last decision you make.
Updated
We are just heading to Victoria where authorities are giving an update about the weather
Updated
Hello everyone this is Cait Kelly, before we get going – a big thank you to Natasha for her great work this morning taking us through all of the headlines.
First up, I have this important story from Lisa Cox:
I leave you now in the very excellent hands of Cait Kelly, so I can watch Fat Bear Week’s livestream unfettered by political pressers.
Huge lineup of contenders for Fat Bear Week
In exactly the news Australians needed following those grim economic predictions from the treasurer, Fat Bear Week is under way with the lineup of contenders confirmed.
Each year, Alaska’s Katmai National Park celebrates how well its brown bears have packed on the weight ahead of winter hibernation, with fans invited to vote for which bear “is the fattest of the fat”.
I will be backing Bear 164, a small adult male because I can’t resist an underdog – or underbear as the case may be. Katmai National Park says that, “instead of competing for established fishing spots like most bears, 164 invented his own”.
You can check out who the contenders and find out a bit about each bear’s biography here, and see them in action hunting and catching pink salmon around Brooks River and Falls thanks to the park’s live stream.
Updated
Treasurer announces series of investor roundtables, starting with social and affordable housing
The treasurer Jim Chalmers is delivering that speech which Guardian Australia’s chief political correspondent, Sarah Martin, previewed on the blog earlier this morning.
Further to outlining the five biggest pressures on the budget (interest payments on servicing government debt, aged care, disability care, hospitals and defence) he has also announced the government will host a series of investor roundtables.
Today, I can announce that the government will host a series of investor roundtables from November 2022 to September 2023. Each one – held every three to four months – will focus on a different area of national priority investment. The first, in November, will address social and affordable housing.
To make sure our conversations are targeted, productive and have a degree of continuity, the roundtables will have twenty core participants. They include the CEOs of our big four banks, along with the heads of some of our largest superannuation and investment funds.
Participants in the roundtables represent institutional investors, including super funds, with over $2 trillion in assets under management. And all participants have the smarts, insight, and diverse range of experiences, to make these roundtables a success.
Updated
Cars skidding off wet track as Bathurst 1000 goes ahead despite flooding
The Bathurst 1000 supercars event is going ahead today despite the town in central west NSW being one of the worst affected by flooding from the intense weather system moving across the east of the country.
Up to 100mm of rain could fall at Mount Panorama over the weekend, potentially leading to flooding along the Macquarie River in Bathurst.
Event organisers released a statement yesterday saying the event would go ahead as normal despite conditions. Today, footage from the event shows cars sliding off a very wet track.
Chaos in the wet at Bathurst. pic.twitter.com/D4WuQWJEjq
— Alister (@alisterrobbie) October 7, 2022
- with AAP
Updated
PM says position unchanged on stage-three tax cuts
Despite speculation the government could be considering scrapping the stage-three tax cuts in its upcoming October budget, Albanese and Chalmers, in respective press conferences in Sydney and Brisbane, say the government hasn’t changed its position.
Just circling back to Albanese’s presser, here’s what the prime minister had to say.
Reporter:
The Opposition has accused you of going missing on the issue of tax cuts this week. Could you clarify once and for all whether you plan on seeking to amend the stage-three tax cuts?
Albanese:
The Government hasn’t changed our position … and I’ve been out and about this week. This weekend, I’ll be in Western Australia. I’m here in western Sydney today. It appears that the Opposition haven’t got quite the memo. They’re still looking for areas of disagreement, of playing the old politics.
What we’ve been about is development, there’s been meetings obviously this week about ERC and our processes. We’ll continue to get on with making sure that we deliver a budget that is responsible, that acknowledges the pressures that are on.
Reporter:
Is that a guarantee there will be no changes to the stage-three tax cuts?
Albanese:
That is exactly what I have said is that the Government has not changed our position.
Updated
Second Sydney United fan banned for life
Football Australia has handed a life ban to a second Sydney United 58 fan who was caught performing “a fascist salute or similar gesture” during their Australia Cup final loss to Macarthur FC last Saturday night.
National Premier Leagues NSW side United were the first second-tier outfit to reach the knockout competition’s decider, but the achievement was overshadowed by the behaviour of a section of supporters, who performed Nazi salutes and chanted songs with fascist links. Some also booed through the Welcome to Country.
It comes two days after FA gave a life ban to another fan for the same offence. Both are now banned from attending any matches sanctioned by FA, including NPL, A-Leagues, Australia Cup and national team matches.
“The ban is effective immediately,” the governing body said in a statement. “As with the first ban issued by Football Australia on Wednesday, the conduct in question relates to a fascist salute or similar gesture conducted during the match and captured on the host broadcast.”
FA also expects to receive submissions from United on Friday in relation to a show-cause notice issued because of crowd behaviour during the Cup final.
Updated
Pandemic declaration to end in Victoria
It’s official - the Covid pandemic is ending in Victoria. Kind of.
Victoria’s premier, Daniel Andrews, on Friday has confirmed the state’s pandemic declaration will end at 11.59pm on 12 October. This is in line with national cabinet’s decision to end Covid-19 isolation from October 14.
Andrews said in a statement:
Victorians have done an amazing job over the last three years – and this new framework will give people the choice to do what is right for them and their community following the unanimous decision taken at national cabinet.
We’re making sure there are still requirements in place to protect our dedicated healthcare workers and vulnerable Victorians in high-risk settings like aged care, disability settings and hospitals
Victorians will no longer be required to isolate after testing positive to Covid-19 but isolation is strongly recommended. Some healthcare workers, aged care and disability care workers will continue to be required to isolate if they test positive to Covid-19 and will be financially supported by the government to do so.
The department of health will also issue directions to ensure healthcare workers are vaccinated against Covid-19. These directions – which are already used each year to require healthcare staff to be vaccinated against the flu – will allow for vaccination requirements in public, denominational and private hospitals, as well as public sector aged care facilities, day procedure centres and throughout ambulance service.
Powers also exist under OH&S laws to require vaccinations for people in workplaces.
Updated
‘We don’t need more development on flood plains’: Albanese
We’re going back to Albanese in Sydney where the prime minister is holding a media conference after delivering his speech.
He’s fielded a question about the Warragamba Dam.
Reporter:
Premier Perrottet said that he wants to raise it and says that it is a critical state infrastructure project.
Do you consider that a waste of money if developments don’t start in the first place?
Albanese:
Quite clearly, we don’t need more development on the flood plains or indeed, in flood plains in general. It makes no sense to do that. With regard to an economic case, that needs to be made.
Updated
Melbourne rain leaves two people stranded on car roof
We’ve been bringing you news about the wild weather lashing the east of the state. In Melbourne, flash flooding has left two people stranded on the roof of their car under the York Street bridge in South Melbourne.
There's always o̶n̶e̶ two.
— York Street Bridge (@york_bridge) October 7, 2022
🎥 | @PaulTatnell#MelbourneWeather pic.twitter.com/9DPYUEYUFI
Updated
Treasurer thanks retiring APRA chair on behalf of government and community
And on Wayne Byres stepping down as chair of the Australian regulation prudential authority (APRA), Chalmers said:
I’ve had the opportunity this morning to meet with Wayne Byres, the outgoing chair of the Australian regulation prudential authority. I had the opportunity to thank Wayne for a remarkably long period of dedicated service to the nation as chair of APRA and before that as well.
That’s not an easy job, being the chair of APRA, given what the financial system has been through the last couple of decades. But he’s done a really quite remarkable job. We’re very grateful to Wayne Byres for the contribution that he has made over a long period of time now. He’s been supported and appointed by governments of both political persuasion, and he’s decided to move on and to do other things.
I really wish him well. And I’m glad I got the opportunity today to thank him. On behalf of myself, but on behalf of the government and on behalf of the broader Australian community as well, for all of that effort and all of that dedication and diligence that he has provided regulating our financial system.
‘Every Australian heart goes out to the parents’ in Thailand: Treasurer
I mentioned in that first post Chalmers had paid tribute to the shooting and stabbing in Thailand. These were his words:
Can I say about that horrific tragedy in Thailand, how heartbreaking, how heart-wrenching it is to think all of those little kids dropped off at childcare that day who won’t be going home - I think that every Australian heart goes out to the parents, the families and the communities impacted by what is really an unspeakable and unfathomable tragedy. And I know that that community and those families will be going through a horrific time as they contemplate the loss, the thieving of those little souls, and what that means for those who’ve survived it.
Updated
Treasurer says government hasn’t changed its position on stage-three tax cuts
Chalmers is asked:
Can you categorically state you may scale back or change those stage-three tax cuts?
Treasurer:
I’ve been clear throughout the course of the week. We haven’t changed our position on those tax cuts. What I’ve tried to do is to level with the Australian people about the complex combination of challenges that we confront as we put the finishing touches on the budget. And no responsible government can ignore the fact that the risks to the global economy are rising rather than decreasing, the pressures on the budget in a persistent structural way are growing rather than dissipating, and the pressure on household budgets from interest rates is putting on more, not less, pressure.
Updated
Treasurer says the ‘world economy is a dangerous place right now’
The treasurer Jim Chalmers has begun speaking in Brisbane at an investor event.
He begins his speech acknowledging the tragedy in Thailand and thanks Wayne Byres as he steps down as chair of the Australian regulation prudential authority.
He moves onto saying there have been “two important developments overnight” as the government finalises its budget to be delivered later this month.
Overnight, the IMF managing director has pointed out that the risks of a global recession are intensifying. She has warned against the ongoing damage that would be done by a prolonged recession around the world. We share the IMF managing director’s concerns about the deteriorating global economy. The global economy has deteriorated significantly even over the course of the last few weeks. And that’s been reflected in the increasingly concerned and concerning commentary from the IMF managing director overnight. The world economy is a dangerous place right now. The storm clouds are gathering in the global economy. And no response government could ignore that as they finalise a budget.
This morning as well, the Reserve Bank has put out their financial stability report and, in doing so, they have made what I think is an obvious point - and that is that the higher interest rates go, the more they will sting ordinary Australians. Some Australians have a buffer in their personal finances, but many don’t. And so, six consecutive interest rate rises in six months - which began before the election and continued after the election in expected-but-still-difficult ways will, and is, having an impact on the finances of ordinary Australians.
The backdrop for the budget that I hand down in less than three weeks’ time will be high inflation and rising interest rates, a deteriorating global economy, and persistent structural pressures on the budget which will not be compensated for by higher commodity prices. And in this environment of high and rising inflation, difficult global economic conditions, and persistent spending pressures, we will put a premium on what is responsible and affordable and sustainable, and best targeted to this complex combination of economic conditions that we confront.
Updated
Albanese said he was approaching the upcoming budget “responsibly and methodically” and was willing to make difficult decisions that take into account global and domestic challenges.
He said:
Our priority is an economy that works for people, not the other way around and this is why my colleagues and I are approaching the upcoming budget responsibly and methodically, taking full account of the increasingly uncertain global economic outlook and recognising the long-term fiscal pressures of funding vital programs... as well as the growing costs of servicing a record national debt, when interest rates are rising.
We will make sure we do what we can to help families with their cost of living in a way that doesn’t push up inflation or add pressure to demand. We are prepared to make difficult decisions, to get Australia through hard times and to ensure our fiscal policy provides a sustainable path forward in the immediate circumstances, as well as the longer term.
Updated
South Australia records 93 Covid deaths and 45 people in hospital
There were 2,720 new cases in the weekly reporting period, and three people are in intensive care.
South Australian weekly COVID-19 update 7/10/22.
— SA Health (@SAHealth) October 7, 2022
For more information go to https://t.co/XkVcAlWPSN pic.twitter.com/gt7lHrNLAZ
Queensland records 14 Covid deaths and 96 people in hospital
There were 7,970 new cases in the weekly reporting period, and two people are in intensive care.
From 28 September to 4 October, we recorded 7,970 new COVID-19 cases.
— Queensland Health (@qldhealth) October 7, 2022
Sadly, 14 deaths were reported during this time.
Full details ➡️ https://t.co/KjEKBzWY9v pic.twitter.com/MPShKoqScv
PM backs moving SBS to western Sydney
The prime minister, Anthony Albanese, has thrown his support behind moving multicultural broadcaster SBS to western Sydney in a speech at Accor Stadium on Friday.
He said the feasibility study on the move commissioned by the communications minister, Michelle Rowland, would first have to be completed.
Speaking at a luncheon hosted by the Western Sydney Leadership Dialogue, he said:
We’ll wait and see what the study says but it certainly makes sense for such a fast-growing, multicultural community to be the home of the broadcaster that celebrates and serves Australia’s diversity.
It would be an important cultural investment in western Sydney.
Prime Minister Anthony Albanese is beginning his address for the Sydney Leadership Dialogue focusing on western Sydney. #auspol pic.twitter.com/Wd4qmOexKg
— Tamsin Rose (@tamsinroses) October 7, 2022
Updated
Migration is about more than skills shortage, prime minister says
Albanese says people in western Sydney “instinctively” understand reforming migration is about more than solving skills shortages; it’s about helping people put down roots.
Albanese said New Zealand and Australia both closed their borders during the Covid pandemic. But while our neighbours encouraged migrants to stay with supports, Australia encouraged migrants to leave and then “wondered why there’s skills shortages when we wanted to open up the economy again.”
Updated
‘Take the politics out of planning’: Albanese
The prime minister has also reiterated the importance of better planning for infrastructure projects in western Sydney, including taking into consideration the risks presented by floods and other natural disasters.
Albanese said the development of a western Sydney expert panel would help with this.
He said:
We need to better plan our infrastructure. We need to take flood and other extreme weather events into account when planning infrastructure investments.
To guide future decision making and to take the politics out of planning we will establish a western Sydney expert panel to review and report on western Sydney’s infrastructure needs.
Updated
ACT records no Covid deaths and 53 people in hospital
There were 536 new cases in the weekly reporting period, and one person is in intensive care.
Weekly ACT COVID-19 update – 7 October 2022
— ACT Health (@ACTHealth) October 7, 2022
🦠 COVID-19 case numbers
◾ New cases this week: 536 (213 PCR and 323 RAT)
◾ Active cases: 312
◾ Total cases since March 2020: 206,285
ℹ More information on our page https://t.co/qRDoepyJkh pic.twitter.com/SsezOYvwV3
Updated
Western Sydney airport more than a third complete
Albanese says:
Western Sydney is the centre of aspiration in this country and we all benefit from it … but we need to get the planning right.
Infrastructure isn’t an end in itself, we don’t build for the sake of it.
Albanese then brings these remarks back to western Sydney airport, saying it will bring prosperity to a range of sectors, as well as jobs for the population.
He says the project’s progress is tracking well – it’s more than a third complete and on time.
Albanese said that the airport will be as important as the advent of Western Sydney University.
Updated
Anthony Albanese speaking in western Sydney
The prime minister, Anthony Albanese, is giving a speech at the Western Sydney Leadership Dialogue. He says that western Sydney is home to the largest Aboriginal populations in urban Australia and thanks Western Sydney Dialogues for being one of the many organisations backing the constitutionally enshrined Indigenous voice to parliament.
Our constitution is our nation’s birth certificate and it is inadequate.
Updated
Cyber breaches risk weakening banks: RBA
The central bank is warning that significant cyber breaches like the one levelled against Optus have the power to send shock waves through Australia’s financial institutions, AAP is reporting.
The Reserve Bank of Australia says the threat of further cyber incidents remains high and has the potential to destabilise the financial system by increased fraud.
Financial fraud from stolen data could then undermine confidence in banks and the banking system, the RBA says in a report.
The recent Optus breach and other large-scale hacks of personal data highlight the need for regulators and financial institutions to continue strengthening their cyber resilience, it says.
In response to the Optus breach, the government is moving to reduce red tape on the sharing of information with banks to allow them to implement better safeguards and monitoring systems.
The changes, announced on Thursday, would let the telcos temporarily share key information such as driver’s licence, Medicare and passport numbers with financial service firms.
Optus would also be able to share identifiers with Commonwealth, state and territory agencies to prevent fraud.
The changes are due to be presented to the governor-general on Friday.
Updated
RBA report sheds light on future prospects for China and climate
Two other quick takeaways from the RBA’s report is some pessimism about China’s prospects - important of course for the price of Australian commodity prices (plus, of course, the livelihoods of 1.4bn people).
Despite government efforts, “the property sector remains under considerable stress,” the RBA said.
This threatens to expose longstanding vulnerabilities affecting local governments, the shadow banking sector and small banks.
And just in case you thought the RBA was worried about the here and now:
[C]limate change and extreme weather events have the potential to affect economies and societies on a global scale, and thereby present a systemic challenge for private institutions and policymakers,” it said. “Both physical and transition risks could result in large losses for financial institutions that are yet to put in place adequate risk controls and resilience strategies.
On second thoughts, given the storms in Victoria today and the worsening flood situation in NSW, perhaps those concerns are about both the here and the now.
Updated
What will tighter financial conditions mean?
The impact, of course, would worsen, along with interest rates. Were the cash rate to increase by another 100bp (as indeed investors are now betting), the share of households forking out at least 30% to repay their mortgage would rise to about one in four, the RBA says.
The RBA also says if the cash rate were to rise to 3.6% (roughly where markets are betting) the share of borrowers facing a minimum debt-servicing ratio to income of 30%+ would increase to about a 1/4 of borrowers by the end of 2023. Lower income households would be hardest hit. pic.twitter.com/fVJXggnslL
— Peter Hannam (@p_hannam) October 7, 2022
For now, there’s a similar tale of businesses coping with higher rates ... although the construction sector is among those doing it tougher (as indicated by that earlier post about a record rise in material costs).
An indication, though, that the squeeze is yet to trigger much of a rise in bankruptcies is that banks have been reducing the amount they are setting aside for bad debt.
The RBA also notes that while some households and businesses are doing it tough (esp. in construction), the overall health of the bank balance sheets - with falling bad debt provisions - remains good (and therefore a plus for financial stability). pic.twitter.com/9L5tC6NU3s
— Peter Hannam (@p_hannam) October 7, 2022
Updated
RBA sees potential for tighter financial conditions, 'disorderly declines' in markets
As for those global conditions, things could “tighten further” the RBA says, not least because of rising inflation, slowing growth, “heightened geopolitical tensions” – and so on.
Should that tightening happen, there’s the potential for increased financial stability risks, “including the potential for a disorderly decline in asset prices and for high leverage and liquidity mismatches in some investment funds to amplify strains in global funding markets”.
(There’s even one mention of troubled Swiss investment bank, Credit Suisse, which the RBA notes is facing investors wanting more protection against a possible default.)
Of course, most Australians are focussed on the home front, and what the RBA thinks about household pain as interest rates rise. For context, they provide this handy chart, which shows where real estate prices are falling - and where they aren’t, yet.
House prices are turning lower in some economies but are yet to start sliding in a few places that look like gravity-devying - for now. pic.twitter.com/3qOB0yvfqp
— Peter Hannam (@p_hannam) October 7, 2022
Households, companies and banks are generally in a “a strong financial position” as they enter “this more challenging environment”. But resilience is “unevenly distributed”, as you’d expect.
The Covid lockdown period allowed some folks to save a lot more and make early payments on their mortgages. About a quarter, though, have little buffer at all.
One reason why the RBA remains relatively calm about households' ability to cope with higher rates is about 60% have prepayments of more than 3 months, while a third have a buffer of 2 years or more. The rates pain is likely to centre on that quarter that has a much finer buffer. pic.twitter.com/cuDrFQfv2Z
— Peter Hannam (@p_hannam) October 7, 2022
The RBA said:
A small number of borrowers have both high debt relative to their income and low saving and equity buffers; these households are particularly vulnerable to shocks.
Updated
The Bureau of Meteorology is predicting up to 25mm of rain to fall across Melbourne today, with flood warnings issued in parts of Victoria.
You can check the warnings here:
A Severe Thunderstorm Warning has been issued for parts of #Melbourne, with thunderstorms expected to continue for the next few hours. There is a risk of heavy rainfall that may lead to flash flooding with these storms.
— Bureau of Meteorology, Victoria (@BOM_Vic) October 7, 2022
Check out the warning here: https://t.co/HLs2UYFQyQ pic.twitter.com/SFZJsrVYxd
Rescuers try to free whales caught in QLD shark nets
Rescuers are attempting to free two humpback whales entangled in a shark net off a Sunshine Coast beach, AAP has reported.
The whales - reportedly a mother and her calf - became trapped in the same net as they made their annual migration south.
Humane Society International marine biologist Lawrence Chlebeck said the current migration season had involved about double the number of entanglements seen in previous years.
“A mother and calf in the same net, stressed and tangled, is a worst-case scenario,” he said in a statement on Friday.
Animal rights groups have previously warned of increased risk as the migrating humpbacks head south with their newborn calves and want the shark nets removed.
“The shark nets must be removed in favour of new technological solutions, already successfully trialled by Queensland and New South Wales governments, that can better reduce the risk of shark bite without endangering migrating humpbacks and killing dolphins and turtles,” Mr Chlebeck said.
“There’s a better way.”
Updated
For everyone not in Melbourne right now, let me tell you – it is very wet:
Mickleham Rd Yuroke now flooded, dam continuing to overflow. @7NewsMelbourne pic.twitter.com/oJdDfj9WVy
— Christie Cooper (@ChristieCooper7) October 7, 2022
Absolute scenes in Melbourne CBD right now. Pedestrians just walking into traffic / tram ways because there’s no where to walk pic.twitter.com/XQkukdr34E
— Néha (taylor’s version) 🏳️🌈 🌹⚒️ (@MadhokNeha) October 7, 2022
Jesus Melbourne. Can’t you just do “chance of showers” like a normal city? pic.twitter.com/Ks70ZPLKXc
— Belinda Barnet (@manjusrii) October 7, 2022
Six new solar farms approved for Victoria
Six solar farms to power 300,000 homes across Victoria will be built, as the state pushes on with plans to power all government operations with green energy, AAP reports.
Energy minister, Lily D’Ambrosio, said six new solar farms and four big batteries were approved as part of Victoria’s second renewables auction.
The projects in Bridgewater, Fulham, Ouyen, Traralgon, Horsham and Glenrowan will generate 1460 gigawatt hours of energy each year, enough to power 300,000 homes.
Victoria aims to power its entire public sector infrastructure – including government schools, hospitals and the entire Melbourne train and tram network – with renewable energy by 2025.
D’Ambrosio told reporters in Glen Waverley:
The projects will also deliver $1.5 billion in investment and will create almost 1000 jobs right across the state.
It comes a week after energy giant AGL announced it would close its brown coal-fired Loy Yang power plant by 2035, up to 10 years earlier than planned.
Updated
NSW Young Liberals express ‘strong disagreement’ with Teena McQueen
The criticism of Liberal Party vice president Teena McQueen continues overnight, with word that the NSW Young Liberal council called on her to resign and the party’s executive to take “appropriate action.”
McQueen told the CPAC conference that attendees should “rejoice” at the defeat of “lefties” in the party at the last federal election - which has been interpreted to mean celebrating the loss of moderates like Dave Sharma, Tim Wilson and Trent Zimmerman. Sharma and Wilson fired back yesterday, while shadow foreign minister Simon Birmingham said McQueen should resign.
We’ve contacted McQueen through the Liberal Party several times for comment but heard nothing back. We’re told the NSW Young Liberals passed the following motion overnight:
That the NSW Young Liberals:
1. Express its strong disagreement and disappointment with the comments made by Liberal Federal vice president Teena McQueen’s at the recent CPAC conference.
2. Note that the comments made by Ms McQueen are not representative of the NSW Young Liberals or the NSW division.
3. Remind Ms McQueen that the role of federal executive members is to work towards the election of endorsed Liberal candidates and a Federal Coalition government.
4. Call on Chris Stone and the federal and state executives of the Liberal party to investigate the comments and take appropriate action to prevent any further damage to the party’s reputation and electoral chances.
5. Call on Teena McQueen to resign from her position as federal vice president.
Updated
MPs asked to weigh into Essendon saga
Sky News is asking Hume and McAllister about the Essendon saga. McAllister says she isn’t going to weigh into the matter (unlike the opposition leader – see Josh Butler’s earlier blog post) but she does remark Australia as a nation has been “pretty intolerant of intolerance”.
You want a country for people to be able to get ahead no matter who they love, where they live or who they worship.
She highlighted an inclusive society was the key message of the prime minister’s speech on the night of his election victory.
Updated
Labor MP says government will not be ‘lectured’ by opposition on stage-three tax cuts
Sky News has shadow finance minister Jane Hume squaring off against assistant climate change minister Jenny McAllister. The topic is stage-three tax cuts.
Hume is coming out with her new favourite verb “crab-walk” to describe Labor’s speculated U-turn, which she was using in her media round yesterday too. However, crabs usually walk sideways, not backwards but no one seems to have asked Hume to explain what she actually means by the term then.
If Labor crab walks away we’ll see their true colours.
McAllister says that the government is “working through all those issues” on stage-three tax cuts. Two days away from the 10th anniversary of Julia Gillard’s anti-misogyny speech, McAllister has echoes of the former Labor leader when she responds to Hume:
We’re not going to be lectured to people who were unable to make an energy policy, address the skills crisis for 10 years.
Updated
Victorian emergency services respond to over 300 requests for assistance amid flooding
As at 11:00am today, in the past 24 hours our volunteers have responded to over 300 requests for assistance, with heavy rainfall and flooding impacting communities across the state. If you need assistance, call 132 500.
— VICSES News (@vicsesnews) October 7, 2022
And remember: Never drive through flood water. pic.twitter.com/bj2cECTot4
This WATCH & ACT - RIVERINE FLOOD - AVOID THE FLOODED AREA has been issued for Loddon River Laanecoorie to Loddon Weir.
— VICSES News (@vicsesnews) October 7, 2022
More details at https://t.co/1GszZgb6XJ pic.twitter.com/GdiPL2uitD
Updated
NCA bomber Perre jailed for life
National Crime Authority bomber Domenic Perre has been jailed for life and will be in his 90s before becoming eligible for parole after being sentenced for the 1994 Adelaide attack, AAP reports.
Perre faced the South Australian supreme court today with Justice Kevin Nicholson confirming his mandatory life sentence for the murder of Detective Geoffrey Bowen and the attempted murder of lawyer Peter Wallis.
With Perre already behind bars for drug offences, Nicholson extended his existing non-parole period by 30 years and seven months.
That means the 65-year-old will be aged over 95 before being able to apply for release.
Nicholson said Perre’s targeted murder of a serving police officer was violent, barbaric and ruthless. The judge said:
Your conduct was brutish. That is totally devoid of any human sensibility.
Your conduct was motivated by matters that do you no credit.
It was not just premeditated but intricately devised and planned over a lengthy period of time and was executed in cold blood.
Bowen died from horrific injuries, including the loss of his left arm, when a parcel bomb built and sent by Perre exploded in his office.
Wallis, who was standing nearby, lost an eye and suffered severe burns in the blast. He died in 2018.
Handing down his guilty verdicts in June this year, Nicholson found that Perre had intended to kill Bowen or anyone else who happened to open the package or be close by when it detonated.
Perre was first charged with murder soon after the bombing but the case against him was dropped six months later because of a lack of evidence.
He was arrested again in 2018 after a joint investigation, lasting more than two years, by a number of state and federal authorities including the Australian Criminal Intelligence Commission.
In an incredibly detailed and complex case, prosecutors argued the bombing was a personal attack on Bowen.
They said Perre’s hostility towards him had grown because of their interactions following the seizure of a multimillion dollar cannabis crop in the Northern Territory in August 1993.
Bowen’s son Simon, who followed his father’s footsteps into the police force, was just seven at the time of the blast. He told Perre in a victim impact statement last month:
I struggle with the motive and relevance of your actions.
You caused so much irreparable damage and suffering all so you can grow some dope and walk about South Australia like a would-be gangster with your big black glasses.
Bowen’s widow Jane Bowen-Sutton said her husband was killed on their ninth wedding anniversary and she had experienced never-ending grief.
That day I told my seven and five-year-old sons that their much-loved dad had been killed and we would never see him again. I’ve relived that conversation for 28 years.
Genevieve Wallis, who was eight years old when her father was injured, said the attack had left him traumatised, depressed and debilitated. Wallis said:
The bombing had torn any sense of safety, belonging and privilege of being a child and it sickens me that a blatant disregard for human life can exist within another human.
In defence submissions, Perre’s lawyer Gilbert Aitken told the court that his client sympathised with the families of the victims but maintained his innocence.
He has lodged an appeal against his convictions.
Updated
Melbourne Zoo marks 160th anniversary with pledge to continue fighting wildlife extinction
What a difference 160 years can make.
— Zoos Victoria (@ZoosVictoria) October 6, 2022
Happy 160th anniversary, Melbourne Zoo! We are ready to keep fighting wildlife extinction for the next 160 years 👊
Image 1 credit: State Library Victoria
Image 2 credit: DELWP - Darryl Whitaker pic.twitter.com/PS9NHqqRkr
RBA financial stability report to reveal rate-increase stresses
We’ll soon get the Reserve Bank’s semi-annual financial stability review, which should update the central bank’s assessment of how households and businesses are coping with the higher interest rates.
Their last such report landed, of course, before they started lifting the cash rate in May, with the increase now reaching a round 250 basis points with last Tuesday’s hike.
While we await the report, CoreLogic has released September quarter data tracking how much more it is costing to build a new home.
Their Cordell Construction Cost Index (CCCI) showed such costs were rising at a record rate in the 12 months to September – if you exclude the bulge in costs after the GST was introduced by the Howard government in March 2001.
According to index, residential construction costs increased by 11% over the 12 months to September, quickening from the 10% annual pace for the June quarter.
On a quarterly basis, the jump was 4.7% or about double the 2.4% increase in the April-June period. So much, then, for the easing of Covid restrictions producing some relief on the home-building front.
Updated
Peter Dutton attacks Daniel Andrews over Essendon football saga
The federal opposition leader, Peter Dutton, has said Victorian premier, Daniel Andrews, “is well and truly past his use-by date,” in a stinging attack over the issue of Essendon football club and Andrew Thorburn.
He also flagged the Liberal party, under his leadership, would more strongly speak out about social and culture issues like freedom of speech.
Dutton appeared on Sky News last night, where he was asked about the Thorburn case, where the former banking executive quit as Essendon CEO after just a day following the surfacing of sermons from the church that he chaired likening abortion to concentration camps and claims that “practising homosexuality is a sin”.
Andrews criticised Thorburn, Dutton then criticised Andrews, then Andrews criticised Dutton for criticising him. In the next round of the circular sledging match, Dutton took aim back at Andrews again last night.
Dutton told Sky host Andrew Bolt:
If ever there was a time for a change of government, it’s now in Victoria.
I hope and pray that they can change government down there because Daniel Andrews is well and truly past his use-by date and the gratuitous comments that he provides, I mean, there’s nothing substantive in what he says. He doesn’t argue the merit, you’ll notice, he attacks the person and that’s how he gets away with skating over the issues where he’s had a complete failure.
Dutton again called on Andrews to throw his support behind Thorburn: “He would say that he’s in favour of inclusion, he would say that he’s in favour of freedom of choice and freedom of speech and instead he’s supported a decision which has crucified somebody for their religious beliefs.”
The opposition leader flagged he would have a big focus on social and cultural issues such as the Thorburn case – and more broadly, freedom of speech and individual rights – as this term of government plays out. He said:
The Liberal party has very strong values, particularly around the rights of the individual and I’ll take every opportunity to assert those because people will know by the time of the next election that there is a big difference between the Liberal party and the Labor party – not just on social issues, but on economic and national security issues as well.
Updated
Defence support of the national Covid response comes to an end
The Australian defence force’s contribution to the national response to Covid-19 concludes today, as the ADF announces an official end to “Operation Covid-19 Assist”.
The pandemic saw over 19,000 ADF personnel deployed at border checkpoints, testing and vaccine hubs, quarantine hotels and aged care facilities.
The ADF said in a statement that across more than 26,000 deployments helped assist the “most vulnerable to the effects of the virus” as well as critical supply chain management.
Deputy prime minister and defence minister, Richard Marles, had these words of thanks for the ADF:
We are extremely proud of Defence’s response to the pandemic which tested the resilience of all those involved.
As it did during the outbreak of Spanish influenza over a century ago, the Australian defence force rose to the challenge imposed by Covid-19, offering a significant capability to deal with the impacts of the disease.
Defence personnel enhanced services, provided relief to organisations under pressure, increased the effectiveness and speed of the national response and, importantly, provided reassurance to a concerned public.
I thank our Defence personnel for their commitment, compassion, patience and professionalism during one of the most challenging periods in Australia’s contemporary history.
Updated
Sydney’s Warragamba spill to pick up this weekend
More rain is falling today across the sodden inland regions of NSW.
The coast, though, including Sydney, will feel dry, certainly compared with the 91mm in the 24 hours to 9am Friday that tipped the city into wettest-year-ever territory with about a lot of 2022 to set a new high bar.
The lull, however, won’t last, with the weekend looking damp, particularly on Saturday when as much as 50mm will fall in Sydney and 70mm in the city’s west.
Not much let-up over the next week for flood-hit parts of NSW, in particular. Western Sydney looking at 70mm on Saturday alone, likely elevating flood risks in the Hawkesbury-Nepean River. Lots of warnings already issued: https://t.co/zsH7RCnlCJ pic.twitter.com/IW7yzbeF2U
— Peter Hannam (@p_hannam) October 6, 2022
For the Warragamba Dam region, falls should approach 60mm on Saturday and as much as another 30mm on Sunday.
The dam has again been a focus of attention, with the NSW premier Dominic Perrottet this week repeating his determination to lift the dam wall even though it’s highly contested. (With the bill likely to top $2bn, the NSW government will be hoping half the funds will come from the feds. A tad unlikely.)
According to WaterNSW, Warragamba has so far been spilling only about 8 giga (or billion) litres a day since last Thursday (continuing an off and on again spill pattern for months).
Warragamba’s expected peak outflow will reach 275GL/day (based on a relatively low 25% chance), likely by Sunday PM. As of 6am today, inflows were at 36GL/day, and the spill was 30GL/day.
The dam, which is about 80% of Sydney’s capacity, holds 2000GL, and since March 2021 has received enough water to fill 2.2 times. Since November 2021, WaterNSW has made controlled releases of 1,000GL (or two Sydney Harbours’ worth).
As for the big inland NSW dams – Burrendong, Wyangala, Copeton and Burrinjuck – they have enough spare capacity with only modest spills based on the current forecasts. Those spills, of course, would be larger if conditions turn out a lot wetter than predicted, WaterNSW said.
They’ve been helped by the midweek rain being less than has been forecast, giving WaterNSW a chance to release water in those dams to gain “air space” to accommodate what’s coming in the next 48 hours.
Updated
Large policing operation supporting Bathurst 1000 event amid flooding
Superintendent Bob Noble also spoke at that press conference about the Bathurst 1000 event going ahead amid the threat of flood:
Obviously we’ve got a very large event in Bathurst this weekend. It is really important from an economic and social point of view, not just for this district but for the whole state.
We have a very large policing operation around that support the event. On the mountain itself, in and around Bathurst and on our roads in surrounding districts and that is to ensure that we have a safe event, everyone does well and everyone get as way safely.
What we don’t need is people entering flooded causeways and water across the road. It wasn’t very long ago that we had a five-year-old boy, not far from here who was killed, drowned in a car washed off the bridge. You can imagine how devastating that is for that family. It is a terribly hard way for a lesson to be learned by society.
Updated
NSW SES receive 24 calls for assistance, including four flood rescues
SES operational readiness officer, Joshua Clark, is providing an update:
We are looking at quite a significant weather event that is moving across the state from the west to the east at the moment. The areas of impact and concern for the SES are Gunnedah, Bathurst, Forbes, Warren and most of inland New South Wales.
This weather event has the potential to bring some significant heavy rainfall and as a result New South Wales SES and our partner agencies have provided and pre-positioned resources right across inland. We have here in relation to Bathurst, we have an additional flood rescue team from fire & cue, we have PolAir based out of Orange with helicopter support, aviation assets across New England and the north-west and a lot of those activities are reply and, resupply and flood and rescue support as and when required.
Thankfully, only 24 calls for assistance over New South Wales. Of note, four have been flood rescues.
Updated
NSW weather expected to deteriorate over next 36 hours
A press conference is happening in Bathurst giving an update about the state’s deteriorating weather conditions expected over the next 36 hours.
Paul Toole, the deputy premier and member for Bathurst, one of the areas being hit by flooding, is the first to speak:
Over the coming days, we are expecting to see consistent rainfall across various parts of New South Wales.
We are expecting to see significant rainfall around the Bathurst area, the Gunnedah area and also around Forbes. Please, everybody, do the right thing over this weekend as we are continuing to see significant rainfall across the state.
Toole also warned drivers returning from school holidays to prepare for traffic:
We are expected to see congestion on the Great Western Highway, on the Princes Highway and on the M1 Motorway. We are asking people to plan their trips, to take their time. There will be congestion. It means that people will have delays. We also want people to drive to the conditions. There will be wet weather, so therefore when you’re braking, it will take extra distance to actually brake before you come it a stop.
The timing of the severe weather is also particularly bad for Bathurst, which is holding their annual supercar event which kicked off yesterday and continues through this weekend. Toole said:
I also want to point out that here in Bathurst, we have a major event this weekend as well. This is the Bathurst 1000. We are expected to see thousands of people here in the city enjoying the car race. But, again, we want to remind campers to not set up alongside the river. Do not set a campsite up underneath a tree. This is for your safety.
NSW emergency services minister Steph Cook said:
We are in the middle of two wet-weather systems at present and the next 24-36 hours we are likely to see increased rainfall across southern inland places like here in Bathurst and also across Sydney.
So here we are expecting weather conditions to deteriorate over this time and on that basis, we are asking communities to work with us over this time, and particularly those communities in the Hawkesbury-Nepean area – we are very aware of the fact that your communities have experienced four floods within an 18-month period and acknowledge the anxiety that some of you will be feeling at this time. I want-to-reassure communities across New South Wales that the SES are very well prepared.
Updated
Poll shows over-50s feel ageism pain
On ageism awareness day, national polling has been released showing nearly 70% of people over 50 agree that ageism against older Australians is a serious problem.
Australians in their 50s and 60s are significantly more concerned about ageism than older people, AAP reports.
Nearly three-quarters of over-50s believe Australia is not doing enough to raise awareness about ageism and fight against it, while 58% want a government awareness campaign.
However, people in their 50s and 60s are more likely than those in their 80s or 90s to think ageism is a serious problem, according to the research by RedBridge Group for the EveryAGE Counts campaign.
Nearly three-quarters of people in their 60s believe ageism is a serious problem, and 37% of people in that age bracket are most likely to have experienced ageism in the past year.
That was compared with about a quarter of over-50s generally, and 15% of people in their 80s.
EveryAGE Counts campaign director Marlene Krasovitsky said:
The way most polling has traditionally lumped ‘older Australians’ together into one monolithic group is ageist in and of itself. What this new research shows is that attitudes to ageism and experiences of ageism vary significantly across a very diverse ‘over-50’ group.
Nearly 30% of people over 50 have been ignored or made to feel invisible, according to the research.
Among those in their 50s, 28% had been rejected for jobs because of their age, and a quarter of people in their 50s and 60s had been made to feel like they are too old for their work.
Krasovitsky said those in their 80s and 90s, conversely, are more likely to report experiencing ageism in the health system, either by being denied treatments or by being ignored in favour of a carer.
The research was based on a representative national sample of more than 1,040 Australians.
Updated
Victoria records 43 Covid deaths and 137 people in hospital.
There were 9,230 new cases in the weekly reporting period, and nine people are in intensive care.
This week we reported 9,230 new cases, averaging 137 daily hospitalisations and 9 daily ICU admissions.
— VicGovDH (@VicGovDH) October 6, 2022
43 deaths were reported in the past 7 days.
Our thoughts are with those in hospital, and the families of people who have lost their lives. pic.twitter.com/sL7GkxoZVV
NSW records 41 Covid deaths and 954 people in hospital
There were 10,767 new cases in the weekly reporting period, and 23 people are in intensive care.
COVID-19 weekly update – Friday 7 October 2022
— NSW Health (@NSWHealth) October 6, 2022
In the 7 days to 4pm Thursday 6 October:
-10,767 new cases of COVID-19 have been recorded: 6,799 rapid antigen tests (RATs) and 3,968 PCR tests
-41 lives lost pic.twitter.com/GwN0QkbVGH
Australian army chief warns Putin’s nuclear threat must be taken ‘very seriously’
Australia’s new army chief Lieutenant General Simon Stuart has warned the prospect of nuclear war in Europe must be taken “very seriously”, as the world enters a strategic era different to the past 80 years.
In an interview with the ABC Stuart was asked whether Russian President Vladimir Putin’s recent threat to use nuclear weapons was a real possibility. He said:
I think we have to take it very seriously.
We live in an era of strategic competition where the great powers are nuclear-armed is something that we need to understand, because it is different to the strategic environment we’ve been living in for the past 80 years.
Earlier this week, during the Land Forces conference in Brisbane, Stuart said that restoring trust in the army following the Brereton inquiry is one of his immediate priorities in his new role.
You can read Guardian Australia’s defence correspondent Daniel Hurst’s most recent revelations regarding inaction on the Brereton inquiry here:
Updated
Weather warnings for Victoria
Here are the warnings that Victorian emergency services have issued for the Melbourne area, and northern parts of the state.
Flood watches are also in place for a number of Victorian rivers, including the Yarra.
SEVERE THUNDERSTORM WARNING - Melbourne Area for HEAVY RAINFALL
— VicEmergency (@vicemergency) October 6, 2022
For people in parts of Geelong and Bellarine Peninsula, Port Phillip waters and Western Local Warning Areas.
Stay informed: https://t.co/T05ONtObdB pic.twitter.com/hkylyTEtBy
SEVERE THUNDERSTORM WARNING for HEAVY RAINFALL
— VicEmergency (@vicemergency) October 6, 2022
For people in parts of Northern Country and North Central Forecast Districts.
Heavy Rainfall for parts of central Victoria. pic.twitter.com/QH11igN8VX
Flood Watch – Advice for Yarra River downstream of Abbotsford. You should Stay Informed. For more info: https://t.co/vaJy0IlBnw #vicfloods
— VicEmergency (@vicemergency) October 6, 2022
AMA warns another wave of Covid coming and it was ‘too early’ to ease isolation rules
Australia’s peak medical body has warned it’s “too early” to scrap Covid-19 isolation requirements, with the nation set to be hit by another wave of infections, AAP reports.
National cabinet agreed to dump the five-day isolation period for positive cases at their last meeting in September.
The prime minister, Anthony Albanese, announced the changes will come into effect on 14 October.
Australian Medical Association president Prof Steve Robson told AAP it was “too early” to ease these protections for the community.
All the signs are that we’re looking at another wave of Covid.
We’re coming out of one of the biggest waves of Covid yet and it has absolutely crushed [the] hospital workforce and left us with a massive logjam and backlog in hospitals at the moment that has to be dealt with.
If we have another wave over the holiday season, then it spells bad news for the country because we can’t tackle that backlog.
Robson said information from the northern hemisphere showed the newer variants won’t be affected by immunity from previous infection or from vaccinations.
We’re seeing a major wave beginning again in the northern hemisphere, we’re very concerned that this doesn’t happen in Australia.
The federal health department will release its weekly Covid-19 case notifications report on Friday.
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Dutton accuses government of not giving straight answers in throwback to Rudd and Gillard
The defence minister, Richard Marles, followed by the opposition leader, Peter Dutton, spoke to Nine News this morning.
Marles was asked whether the government would “break the promise” of its commitment to stage-three tax cuts. He said:
Our position hasn’t changed. We are facing a really difficult situation in terms of the budget. Every dollar of debt that Peter left us from the former government are now costing the budget a whole lot more.
Dutton then criticised the government’s lack of a clear answer on the question:
Richard’s words this morning – he couldn’t give you a straight answer, which is exactly how Kevin Rudd and Julia Gillard behaved, and we’re seeing echoes of that, which should be deeply disturbing.
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Feminist writer Clementine Ford is speaking to ABC Radio about how romantic love has been oversold to women as a project to get them back into the home post-WW2. What a vibe.
Just about to sing a little song on @RadioNational with @LibbyODonovan - come to our #LoveSermon! pic.twitter.com/7yqKs2TQKI
— Clementine Ford 🧟♀️ (@clementine_ford) October 6, 2022
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Australian politicians react to Thai massacre
Condolences are flowing in from the Australian parliament following the horrific massacre in Thailand overnight. Prime minister Anthony Albanese earlier tweeted “it’s impossible to comprehend the heartbreak”. Foreign affairs minister Penny Wong said she was “devastated”.
I am devastated to learn of reports of a shooting at a childcare centre in Nong Bua Lamphu, Thailand.
— Senator Penny Wong (@SenatorWong) October 6, 2022
Our hearts break for the families and the community. Our thoughts are with them, and the people of Thailand, during this incredibly difficult time. https://t.co/oKb3cyZ1mN
Opposition leader Peter Dutton called it a “senseless massacre” and “difficult to comprehend”.
Our thoughts and prayers are with the families of those killed in this senseless massacre at the nursery in Thailand. Thai people are peace loving with a beautiful nature, which makes this crime even more difficult to comprehend.
— Peter Dutton (@PeterDutton_MP) October 6, 2022
Environment minister Tanya Plibersek, shadow foreign minister Simon Birmingham and Nationals MP Michael McCormack also shared messages of condolence. Assistant treasury minister Andrew Leigh called the incident “evil”.
The news from Thailand is just heartbreaking. An unimaginable pain. Sending love to all who are affected by this tragedy.
— Tanya Plibersek (@tanya_plibersek) October 6, 2022
Many will feel immense shock & sadness at the truly awful attack in Thailand. Our hearts go out to the parents & families of those children whose lives have been cruelly taken. It is an incomprehensible act against innocents.
— Simon Birmingham (@Birmo) October 6, 2022
Awful news from Thailand. A tragedy families will never get over. Cannot even begin to understand how and why. Hearts broken but a world’s strength and sympathy with all of those whose lives have been shattered.
— Michael McCormack (@M_McCormackMP) October 6, 2022
Gut-wrenching. My thoughts with our Thai friends as they grapple with this evil act. https://t.co/bkJYwlj8Xf
— Andrew Leigh (@ALeighMP) October 6, 2022
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Allegra Spender calls for tax system review ahead of budget
Independent MP Allegra Spender has called for the Labor government to announce a tax system review as part of this month’s federal budget, as debate over the fate of the $244bn stage-three tax cuts continues to rage.
Spender, the member for the affluent Sydney seat of Wentworth, tweeted this morning that it would be “courageous” for treasurer Jim Chalmers to start a “balanced discussion” about tax settings. She previously told the Sydney Morning Herald she supported the stage-three tax cuts but has long called for a review of income, company and payroll taxes.
In the budget the Treasurer should announce a short sharp tax review, so we can have a balanced discussion about what tax system can set us up for productivity growth, as well as support the services we need. That would be the courageous act.
— Allegra Spender (@spenderallegra) October 6, 2022
She tweeted:
The treasurer is right to highlight cost pressures in the budget, but government also has control over how to spend money smarter.
The government hasn’t decided on any changes to the stage-three tax cuts, which will overwhelmingly benefit high-income earners when they come into effect in 2024, and may eventually decide to make no changes at all to the settings legislated by Scott Morrison’s government. However, there are some in Labor agitating for changes, with calls for some of the large benefits to the richest Australians to be pared back.
The Coalition opposition is already setting this up as a test for the Albanese government, pointing out that the now prime minister repeatedly promised not to touch the tax cuts during the election. Here’s Coalition frontbencher Dan Tehan:
He could not have been clearer. pic.twitter.com/uiJ7nnF0oW
— Dan Tehan (@DanTehanWannon) October 6, 2022
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Albanese says trust between Australia and Solomon Islands vital
The prime minister’s office has released some images of Anthony Albanese hosting Manasseh Sogavare at The Lodge in Canberra for dinner on Thursday night, after his formal meeting at Parliament House earlier in the day.
At that meeting, Albanese said “building up trust” between the two nations was critical. He said Australia regards itself as being part of the “Pacific family”:
Like families, we won’t always agree on every single item but what we will agree on is common interests wherever we can.
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Climate Council issues pre-budget wishlist
With the federal budget less than two weeks away, the Climate Council is calling on the Albanese government to replace $11.6bn spent on fossil fuel subsidies with “structural” environmentally friendly investments that could lower costs for households, AAP reports.
In a report released today, the Climate Council claims the government could use money from fuel subsidies to install more than 72,000 electric vehicle charging stations – one for every 12km of road – or install solar panels to power 1.5 million low-income households.
Climate Council chief executive Dr Jennifer Rayner said the organisation based its figures on fossil fuel subsidies paid in the 2021-2022 financial year and five projects it considered “better bets”.
In addition to solar panels and EV charging stations, Rayner said the government could use the funds to replace all diesel buses in Sydney, Melbourne and Brisbane, create 138 renewable energy storage facilities similar to Victoria’s Big Battery in Geelong, or fund another 15 pumped hydro projects to shore up the energy grid.
Rayner said each of the projects was environmentally friendly and some would offer cost savings to households under financial pressure.
Climate Council economist Nicki Hutley, who prepared the report, said investing the funds in electric vehicle charging sites could also make it easier for Australians to avoid rising petrol prices.
Australia has a network of more than 3000 public electric vehicle charging stations but, with an $11.6bn investment, Hutley estimates the country could roll out 72,500 EV chargers - one for every 12km.
By comparison, Norway has an EV charger for every 50km of roads at 17,000.
KPMG has flagged climate change as a key concern in the October budget.
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Western Sydney to receive 70mm of rain Saturday alone
Not much let-up over the next week for flood-hit parts of NSW, in particular. Western Sydney looking at 70mm on Saturday alone, likely elevating flood risks in the Hawkesbury-Nepean River. Lots of warnings already issued: https://t.co/zsH7RCnlCJ pic.twitter.com/IW7yzbeF2U
— Peter Hannam (@p_hannam) October 6, 2022
'Too important to stuff up': inland rail to be subject of independent probe
The federal government has today announced that the budget blowout and unanswered questions of the $14.5bn inland rail project be investigated in an independent review.
This is a project which was the subject of a major investigation by Guardian Australia’s rural network earlier this year:
The federal government today announced former Energy Security Board chair Kerry Schott would lead the review.
Infrastructure minister Catherine King and finance minister Katy Gallagher have released a joint statement this morning:
The Coalition left Inland Rail in a mess. We inherited a project over budget, behind schedule and with no plan for where it will start or end.
The review will consider the process for selecting the Inland Rail route, including stakeholder consultation, and assess the project’s scope, schedule and cost.
The review will also assess options for the new Inland Rail intermodal terminals to be built in Melbourne and Brisbane, and improving rail links to the ports in these cities.
The review will have regard to existing studies, such as the Toowoomba to Gladstone Inland Rail Extension Business Case.
Inland Rail is an important part of building additional capability and capacity to increase the resilience of Australia’s freight supply chain and meet our growing freight task, which is forecast to grow by up to 35% by 2040.
Moving freight off the roads and on to rail will help with the task of decarbonising while helping regional cities grow by providing more opportunities for jobs and industries.
The independent review is necessary because Inland Rail is too important to stuff up.
The project has already gone over budget and a senate inquiry was told final costs for the infrastructure project could surpass $20bn.
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‘Impossible to comprehend the heartbreak’: Albanese sends condolences to Thailand
The prime minister, Anthony Albanese, has expressed his condolences to Thailand on behalf of Australia following the news of mass stabbing and shooting at a preschool.
Thirty-seven people have been killed, most of them young children, in an unprecedented gun and knife attack at a preschool centre in the country’s north-east.
It’s impossible to comprehend the heartbreak of this horrific news from Thailand. All Australians send their love and condolences.
— Anthony Albanese (@AlboMP) October 6, 2022
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Bandt says systemic cost of living relief will help Australians more than stage-three tax cuts
RN Breakfast host Patricia Karvelas now turns to asking Greens leader Adam Bandt about the stage-three tax cuts, amid speculation the government could be reconsidering their commitment.
Bandt has been outspoken about the need to scrap the tax cuts which will largely benefit the wealthiest Australians, arguing that the savings could be better spent on Greens policies like bringing dental under medicare.
Karvelas asks Bandt if he would support changes to the stage three tax cuts so people on lower incomes keep the tax cut. However, Bandt’s argument is that the government spending on “systemic cost of living relief” is what will best serve Australians.
The proposed tweaks that the government has been floating ... still result in billionaires getting thousands of dollars a year in tax cuts – our view is there are better ways of dealing with the cost of living crisis.
People who are on low and middle incomes need cost of living relief, in the form of government support to reduce the cost of living, getting dental into medicare. The concern is that with wages going up so slowly and the cost of everything rising quickly, a small tax cut today is gobbled up by energy prices tomorrow.
This is about what government can do to make peoples lives better.
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Greens to push government on safeguard mechanism in the Senate
Greens leader Adam Bandt is now speaking to ABC Radio. My colleague Sarah Martin brought you the news a little earlier about that new analysis out from the Greens which shows that big emitters can easily pay for their emission offsets instead of reducing them.
Bandt:
The government has said that … they’re now going to take steps to put a new rule in place to cover the coal and gas corporations. What we’re concerned about that under the discussion paper the government has released, these big corporations that are bringing in billions of dollars a year in revenue won’t actually be forced to cut their pollution instead they’ll just be able to pay to offset it.
[Our analysis] suggest that many of these big polluters won’t have to cut their pollution at all and given that call and gas is what’s fast tracking the climate crisis, that is a real concern to us.
The government’s safeguard mechanism has to deal with this question of new coal and gas projects … the government has said it would … if we come up with a scheme that allows new coal and gas to keep opening then it’s going to make the climate crisis worse.
Are the Greens willing to hold up other legislation to strengthen the safeguard mechanism?
They’ll need the safeguard mechanism to have the support of the Senate.. so this is where we will push the government to tackle this question of coal and gas.
This is an area I think we can get the government to shift, that’s why a record number of people voted for us.
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Fifty-seven flood warnings in place for NSW as SES receive 800 calls for help
NSW SES assistant commissioner Dean Story is speaking to ABC News Breakfast this morning about “a concerning couple of days ahead” for the state’s weather:
There is currently 57 advice or watch and act warnings in play from the SES effecting a large part of the state. That number is set to increase in the next 24 hours as well. We’re really asking the communities and those effected areas to stay informed, monitor your local weather forecasts and the warnings.
A lot of people on the roads with the school holidays ending and events taking place around the state. Avoid unnecessary travel if you are in the effected areas. If you need to travel, plan your trip accordingly. You can use live traffic.com as a good tool to do that and never drive through flood waters.
Story says there have been “almost 800 requests for assistance” since Monday.
SES volunteers have responded to 24 flood rescues during that time also. The rainfall forecast over the next 24 hours is really concerning from a flash-flooding risk. Where the flood waters and people attempt to go drive through them, particularly in the city areas, can really ramp up that activity and increase that risk.
We’re urging the communities to stay vigilant and make the smart safety decisions for themselves and their families and one of the smartest decisions they can make is never drive through floodwaters.
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Budget will see 'difficult decisions for difficult times': treasurer
The treasurer, Jim Chalmers, says Australia is facing the possibility of a new “global slowdown” and the 25 October budget must be framed to prepare for any coming economic shocks.
Amid the debate over whether to proceed with the stage-three tax cuts, Chalmers said the budget would include “difficult decisions for difficult times” amid a worsening global economic climate and spending pressures domestically.
He will say in a speech at the Queensland government’s investment showcase later today:
The right calls for the right reasons – following the responsible path; not the path of least resistance.
We must be serious about rebuilding our budget buffers – particularly given the deteriorating global outlook. So, we’ll put a premium on affordable, responsible, sustainable, spending. Not fancy or flashy – but fair and future-focused.
Above all else – this budget will be about responsible economic management at home at a time of uncertainty around the world.
The budget will show that Treasury’s global growth forecasts have been downgraded by 0.75 of a percentage point in 2022, 1 percentage point in 2023 and a 0.5 of a percentage point in 2024. He says:
This means that global output will be around $2tn lower in US dollar terms by the end of 2024 than previously expected.
We aren’t being spared from the deteriorating global outlook and we shouldn’t hope to escape further storms unscathed.
Chalmers will say that the global financial crisis became a demand shock, the Covid pandemic crisis became a supply shock, and the third would be “an inflationary shock and a hard landing brought about by rapidly tightening monetary policy.”
Each is different in meaningful ways; the response should be different too.
This time our response will be more targeted, more measured, and more supply-side focussed so it isn’t counterproductive and doesn’t put extra pressure on the independent RBA.
He will also use the speech to highlight the spending pressures facing the government, with interest payments to grow at around 14% per year on average over the next four years, defence spending to grow 4.4% each year, the NDIS 12.1%, hospitals 6.1%, and aged care 5%.
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Big polluters will pay for offsets instead of cutting them, Greens say
The Greens are releasing new analysis today looking at how big polluters could “easily pay for offsets” under the proposed changes to the safeguard mechanism mooted by the government.
The analysis, informed by research from the parliamentary library, shows that at current and forecast prices of carbon permits, the biggest emitters in the coal and gas sector would only have to pay “the tiniest fraction of their profits” to offset their emissions.
This will lead big polluters to buy carbon credits rather than investing in real emission reductions at their own facilities, the party claims.
Using the Capcoal thermal and metallurgical coalmine in Queensland and the North-West Shelf LNG project as case studies, the analysis looks at two measures of possible liabilities as envisaged in the government’s consultation paper: a minimum 3.5% annual decline in emissions out to 2030 or a maximum 6% decline.
Under either scenario, the cost of abatement would range from as low as 0.014% of annual profits to 1.35% of just one year’s profit for a five-year obligation.
Greens leader Adam Bandt said the liability would amount to “just coins down the back of the couch” for these coal and gas corporations. He says:
Coal and gas are the main causes of the climate crisis, but Labor’s proposed scheme lets coal and gas keep polluting by paying a pittance.
Under Labor’s proposed scheme, new coal and gas mines can still go ahead. Coal and gas corporations make obscene profits and pay very little tax, and on the current proposal, they’ll easily buy their way out of the scheme.
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Good morning!
The treasurer, Jim Chalmers, will today outline the five biggest pressures on the budget he is due to hand down on 25 October.
The interest payments on servicing government debt tops the list, alongside aged care, disability care, hospitals and defence.
The Australian Financial Review is reporting the treasurer will use the occasion to “escalate his push to pare back the stage-three tax cuts.”
In other political news, the Greens are releasing new analysis today showing how big polluters will choose to pay for rather than cut their emission offsets under the proposed changes to the safeguard mechanism mooted by the government.
The Greens’ leader, Adam Bandt, will be speaking with ABC Radio shortly and we’ll bring you what he has to say.
In weather news, wild conditions continues to lash eastern Australia with flood warnings in place across several states.
There are 55 flood warnings across in NSW, 14 of which are watch and act. More than a dozen rivers set to flood with concern for inland towns in the state’s north and central west.
There are also warnings for heavy rainfall, thunder and flooding in Victoria, as well as a flood watches in Queensland and Tasmania.
Let’s begin.
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