NBN Co.'s Ellie Sweeney says Australians will pay for faster internet
'Over the next couple of years we do expect 500 [megabits per second] will become the most popular plan,' Sweeney told The Australian Financial Review after the government enterprise narrowed its annual net loss by 10 per cent to $963 million.
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Sydney Morning Herald
5 hours ago
- Sydney Morning Herald
Chalmers hits back at critics talking down economic talkfest before it has even begun
Treasurer Jim Chalmers has rounded on critics of the government's economic roundtable, insisting the three-day meeting to map out ways to improve Australians' living standards will not be a waste of time. As the Greens vowed to use their balance of power in the Senate to drive progressive reforms from the roundtable, Chalmers said that next week's forum would be the start of a three-year drive to increase productivity rather than 'instant policy gratification'. The roundtable begins on Tuesday with discussions to focus on issues ranging from regulatory barriers to building new homes, the structure of the tax system and recognition of occupational licences across state and territory boundaries. The government has already ruled out substantial tax reform from the roundtable, especially in contentious areas such as the GST and negative gearing. There have also been criticisms that the roundtable could become a talkfest that will fail to deliver policies to address the nation's slowdown in productivity growth. But Chalmers said he wanted to push back at critics, many in the Coalition, who have claimed that the gathering will be a waste of time. Loading 'I feel the effort we've put in, which has been very, very substantial, probably the most intensive period of consultation that I've been involved in, I feel like it's already worth it,' he told this masthead. 'You shouldn't anticipate that we will have every problem solved in the economy at the end of three days of fruitful discussions, but it will be a really important way to inform the decisions of the cabinet.' Prime Minister Anthony Albanese and the treasurer have at times struck different tones, creating a perception that Chalmers is more keen to use the roundtable to enact bigger reforms, though the pair have not been obviously at odds over any specific policy.
The Age
5 hours ago
- The Age
Chalmers hits back at critics talking down economic talkfest before it has even begun
Treasurer Jim Chalmers has rounded on critics of the government's economic roundtable, insisting the three-day meeting to map out ways to improve Australians' living standards will not be a waste of time. As the Greens vowed to use their balance of power in the Senate to drive progressive reforms from the roundtable, Chalmers said that next week's forum would be the start of a three-year drive to increase productivity rather than 'instant policy gratification'. The roundtable begins on Tuesday with discussions to focus on issues ranging from regulatory barriers to building new homes, the structure of the tax system and recognition of occupational licences across state and territory boundaries. The government has already ruled out substantial tax reform from the roundtable, especially in contentious areas such as the GST and negative gearing. There have also been criticisms that the roundtable could become a talkfest that will fail to deliver policies to address the nation's slowdown in productivity growth. But Chalmers said he wanted to push back at critics, many in the Coalition, who have claimed that the gathering will be a waste of time. Loading 'I feel the effort we've put in, which has been very, very substantial, probably the most intensive period of consultation that I've been involved in, I feel like it's already worth it,' he told this masthead. 'You shouldn't anticipate that we will have every problem solved in the economy at the end of three days of fruitful discussions, but it will be a really important way to inform the decisions of the cabinet.' Prime Minister Anthony Albanese and the treasurer have at times struck different tones, creating a perception that Chalmers is more keen to use the roundtable to enact bigger reforms, though the pair have not been obviously at odds over any specific policy.
West Australian
9 hours ago
- West Australian
Escalante-backed fintech WeMoney doubles down on WA roots as it eyes ASX listing
Laurence Escalante-backed WeMoney is on the path to an ASX listing even before it turns a decade old, its chief says, as the WA-founded fintech charts ambitious local expansion plans. The financial wellness app, founded by former National Australia Bank banker Dan Jovevski, aims to help people manage earnings by using artificial intelligence to detect their spending patterns and make suggestions on where to save cash. With the app already clocking over one million downloads in Australia since it went live in late 2020, Mr Jovevski is now charting the business' next phase of growth. 'We've always had a desire to become a public company and for our particular business, it makes a lot of sense because the growth (trajectory) we're currently on, there may not be an option to raise money privately,' he said. 'We're not going to rush into it . . . but our general goal now is to (list on the ASX) within the next three years based on our current growth rate.' All of that would be done from WA, Mr Jovevski said. WeMoney on Friday unveiled its new headquarters on St Georges Terrace and plans to create 50 news jobs across data science, AI development and product design within three years, with a strong focus on early-career professionals and recent graduates. 'The office is symbolic because it plants our roots here in WA, but also sends a signal to the broader tech community that more companies should (establish) offices here because the talent pool and density is phenomenal,' Mr Jovevski said. It comes after WeMoney in April secured $12 million in funding — valuing the enterprise at $100m — led by Virtual Gaming Worlds founder Mr Escalante's family office. The round also attracted support from RAC's venture capital arm BetterLabs and Mastercard. The funds raised were used for research and development. With 80,000 monthly active users, Mr Jovevski pointed to the persistent high cost-of-living pressures as being 'an accelerant' of its growth. 'About half of Australians are living pay cheque to pay cheque,' he said, with higher interest rates and housing costs crunching people's incomes. 'People are still struggling even amidst the interest rate cuts and what's been a real catalyst for our growth is people wanting to get more control and transparency over their money and their finances.' Mr Jovevski said on average, its customers saved $335 a month by using the WeMoney app. 'One of the outcomes were really proud of is in a short nine months of using WeMoney, our members report that their credit health improves by 63 points,' he said.
