Australia news live: Jim Chalmers flags five key spending areas ahead of budget; floods persist in rain-soaked NSW

3 months ago 21

Key events

Big corporations “won’t really beryllium forced to chopped their pollution”: Greens

Greens person Adam Bandt is present speaking to ABC Radio. My workfellow Sarah Martin brought you the quality a small earlier astir that caller investigation retired from the Greens which shows that large emitters tin easy wage for their emanation offsets alternatively of reducing them.

Bandt:

The authorities has said that .. they’re present going to instrumentality steps to enactment a caller regularisation successful spot to screen the ember and state corporations. What we’re acrophobic astir that nether the treatment insubstantial the authorities has released, these large corporations that are bringing successful billions of dollars a twelvemonth successful gross won’t really beryllium forced to chopped their contamination alternatively they’ll conscionable beryllium capable to wage to offset it.

57 flood warnings successful spot for NSW, arsenic SES person 800 calls for assistance

NSW SES adjunct commissioner Dean Story is speaking to ABC News Breakfast this greeting astir “a concerning mates of days ahead” for the state’s weather:

There is presently 57 proposal oregon ticker and enactment warnings successful play from the SES effecting a ample portion of the state. That fig is acceptable to summation successful the adjacent 24 hours arsenic well. We’re truly asking the communities and those effected areas to enactment informed, show your section upwind forecasts and the warnings.

A batch of radical connected the roads with the schoolhouse holidays ending and events taking spot astir the state. Avoid unnecessary question if you are successful the effected areas. If you request to travel, program your travel accordingly. You tin usage unrecorded traffic.com arsenic a bully instrumentality to bash that and ne'er thrust done flood waters.

Story says determination person been “almost 800 requests for assistance” since Monday.

SES volunteers person responded to 24 flood rescues during that clip also. The rainfall forecast implicit the adjacent 24 hours is truly concerning from a flash-flooding risk. Where the flood waters and radical effort to spell thrust done them, peculiarly successful the metropolis areas, tin truly ramp up that enactment and summation that risk.

We’re urging the communities to enactment vigilant and marque the astute information decisions for themselves and their families and 1 of the smartest decisions they tin marque is ne'er thrust done flood waters.

Budget volition spot 'difficult decisions for hard times': Treasurer

Sarah Martin

Sarah Martin

The treasurer, Jim Chalmers, says Australia is facing the anticipation of a caller “global slowdown” and the October 25 fund indispensable beryllium framed to hole for immoderate coming economical shocks.

Amid the statement implicit whether to proceed with the signifier 3 taxation cuts, Chalmers said the fund would see “difficult decisions for hard times” amid a worsening planetary economical clime and spending pressures domestically.

He volition accidental successful a code astatine the Queensland government’s concern showcase aboriginal today:

The close calls for the close reasons – pursuing the liable path; not the way of slightest resistance.

We indispensable beryllium superior astir rebuilding our fund buffers – peculiarly fixed the deteriorating planetary outlook. So, we’ll enactment a premium connected affordable, responsible, sustainable, spending. Not fancy oregon flashy – but just and future-focused.

Above each other – this Budget volition beryllium astir liable economical absorption astatine location astatine a clip of uncertainty astir the world.

The fund volition amusement that Treasury’s planetary maturation forecasts person been downgraded by 0.75 of a percent constituent successful 2022, 1 percent constituent successful 2023 and a 0.5 of a percent constituent successful 2024. He says:

This means that planetary output volition beryllium astir $2 trillion little successful US dollar presumption by the extremity of 2024 than antecedently expected.

We aren’t being spared from the deteriorating planetary outlook and we shouldn’t anticipation to flight further storms unscathed.

Chalmers volition accidental that the planetary fiscal situation became a request shock, the Covid pandemic situation became a proviso shock, and the 3rd would beryllium “an inflationary daze and a hard landing brought astir by rapidly tightening monetary policy.”

Each is antithetic successful meaningful ways; the effect should beryllium antithetic too.

This clip our effect volition beryllium much targeted, much measured, and much supply-side focussed truthful it isn’t counterproductive and doesn’t enactment other unit connected the autarkic RBA.

He volition besides usage the code to item the spending pressures facing the government, with involvement payments to turn astatine astir 14% per twelvemonth connected mean implicit the adjacent 4 years, defence spending to turn 4.4% each year, the NDIS 12.1%, hospitals 6.1%, and aged attraction 5%.

Big polluters volition wage for offsets alternatively of cutting them, Greens say

Sarah Martin

Sarah Martin

The Greens are releasing caller investigation contiguous looking astatine however large polluters could “easily wage for offsets” nether the projected changes to the safeguard mechanics mooted by the government.

The analysis, informed by probe from the parliamentary library, shows that astatine existent and forecast prices of c permits, the biggest emitters successful the ember and state assemblage would lone person to wage “the tiniest fraction of their profits” to offset their emissions.

This volition pb large polluters to bargain c credits alternatively than investing successful existent emanation reductions astatine their ain facilities, the enactment claims.

Using the Capcoal thermal and metallurgical ember excavation successful Queensland and the North-West Shelf LNG task arsenic lawsuit studies, the investigation looks astatine 2 measures of imaginable liabilities arsenic envisaged successful the government’s consultation paper: a minimum 3.5% yearly diminution successful emissions retired to 2030 oregon a maximum 6% decline.

Under either scenario, the outgo of abatement would scope from arsenic debased arsenic 0.014% of yearly profits to 1.35% of conscionable 1 year’s nett for a five-year obligation.

Greens Leader Adam Bandt said the liability would magnitude to “just coins down the backmost of the couch” for these ember and state corporations. He says:

Coal and state are the main causes of the clime crisis, but Labor’s projected strategy lets ember and state support polluting by paying a pittance.

Under Labor’s projected scheme, caller ember and state mines tin inactive spell ahead. Coal and state corporations marque obscene profits and wage precise small tax, and connected the existent proposal, they’ll easy bargain their mode retired of the scheme.

Good morning!

The treasurer, Jim Chalmers, volition contiguous outline the 5 biggest pressures connected the fund helium is owed to manus down connected 25 October.

The involvement payments connected servicing authorities indebtedness tops the list, alongside aged care, disablement care, hospitals and defence.

The Australian Financial Review is reporting the treasurer volition usage the juncture to “escalate his propulsion to pare backmost the stage-three taxation cuts.”

In different governmental news, the Greens are releasing caller investigation contiguous showing however large polluters volition take to wage for alternatively than chopped their emanation offsets nether the projected changes to the safeguard mechanics mooted by the government.

The Greens’ leader, Adam Bandt, volition beryllium speaking with ABC Radio soon and we’ll bring you what helium has to say.

In upwind news, chaotic conditions continues to lash eastbound Australia with flood warnings successful spot crossed respective states.

There are 55 flood warnings crossed successful NSW, 14 of which are ticker and act. More than a twelve rivers acceptable to flood with interest for inland towns successful the state’s northbound and cardinal west.

There are besides warnings for dense rainfall, thunder and flooding successful Victoria, arsenic good arsenic a flood watches successful Queensland and Tasmania.

Let’s begin.