Can Slashing Immigration Fix Australia's Housing Crisis?
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Governments in developed countries around the world are grappling with their migration policies and Australia is no exception, with the Labor and Liberal parties proffering competing plans on how to slash the number of people arriving at its borders.
This week on the podcast, host Rebecca Jones asks Abul Rizvi about Anthony Albanese and Peter Dutton's migration policies ahead of the May 3 federal election — and whether they will actually help Australia's housing crisis.
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an hour ago
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As Albanese returns, what next for Australia's mining and minerals?
When Anthony Albanese, leader of Australia's Labor Party, secured his second term as prime minister in May of this year – the first Labor leader to do so since Bob Hawke, who served three terms from 1983 to 1991 – world leaders were quick to congratulate him. But did Australia's mining industry, a sector critical to the nation's economy, do the same? Just a few days before the election, Albanese made his intentions around critical minerals clear via a statement on his website. If elected, his government promised to 'pursue Australia's national interest and boost our economic resilience by establishing a Critical Minerals Strategic Reserve'. 'In a time of global uncertainty, Australia will be stronger and safer by developing our critical national assets to create economic opportunity and resilience,' stated Albanese. 'I will ensure that Australia continues to produce and benefit from the resources that are essential to our national interest.' The strategic reserve will see the federal government commit to entering contracts to purchase, or obtain options over, key critical minerals, which will likely give Australia's national government some leverage in relation to critical minerals as geopolitical tensions increase. The government will make an initial investment of A$1.2bn ($767m), including through a A$1bn increase in the existing Critical Minerals Facility established in 2021, taking the total investment in the facility to A$5bn. Australia is home to some of the largest critical mineral deposits on Earth. In 2024, government agency Geoscience Australia was pledged A$566m by the previous Albanese government to map out the nations' critical minerals over the next ten years and identify a strategy to develop them. Identified as crucial to developing infrastructure in everything from renewable energy to defence and communications, these critical materials are already believed to be abundant in Australia. However, Geoscience figures suggest more than 80% of the country remains under-explored. As such, the country 'is uniquely placed to meet the needs of increasing global and domestic demand, while the size and sophistication of our mining industry allows us to take maximum advantage of these resources', Albanese says. The reserve will create two new mechanisms: national offtake agreements, with the government taking agreed volumes via a voluntary contract; and selective stockpiling, with the government establishing stockpiles in Australia of certain key critical minerals. The reserve 'will generate cash flow from sales of offtake on global markets and to key partners [and] accumulate stockpiles of priority minerals when warranted by market conditions and strategic considerations, but it is anticipated that these will be modest and time-limited in most cases'. Resources Minister Madeleine King also says that the reserve, 'combined with production tax credits and the expansion of the Critical Minerals Facility, shows the Albanese government is taking the development of an Australian critical minerals industry seriously'. King, who is also Minister for Northern Australia, was re-appointed to the role on 13 May 2025. The Critical Minerals Production Tax Incentive (CMPTI) – passed into law in early 2025 – is a scheme intended to support the critical minerals industry and promote downstream processing in Australia. It offers a refundable tax credit on 10% of eligible costs associated with the processing of certain critical minerals between July 2027 and the end of June 2040. The Australian Government has two lists of minerals that are important for the nation's modern technologies, economies and national security: a critical minerals list containing 31 substances including cobalt and lithium; and a strategic materials list containing aluminium, copper, phosphorus, tin and zinc. The minerals on these lists support Australia's 'transition to net-zero emissions, advanced manufacturing, defence technologies and capabilities, and broader strategic applications', according to its Department of Industry, Science and Resources. Albanese's Government will now be able to carry on with its overarching Future Made in Australia policy – essentially an attempt to enhance the benefits of net-zero and energy transition policies. The creation of the critical reserve is central to that, along with a A$750m commitment to develop new low-emissions technology, and A$1bn to boost green iron manufacturing and supply chains. A statement from Andrew Forrest, executive chairman and founder, Fortescue, claims the return of Albanese 'sends a clear and unequivocal message: Australians will back and support policies that recognise the economic opportunities which come from acting on the existential threat of climate change'. Forrest continues that the government's commitments, 'including the Future Made in Australia plan, the Capacity Investment Scheme, the Hydrogen Production Tax Incentive and the Green Iron Fund, provide a strong foundation for a green energy future'. Australia is likely trying to position itself as a green iron manufacturing powerhouse, with the A$1bn fund boosting green iron manufacturing and supply and helping to unlock substantial levels of private investment. 'Green iron can be the biggest industry Australia has ever built,' adds Forrest, so 'let's start in the Pilbara this decade, with investment, markets and skills'. Pilbara is home to Fortescue's Green Metal Project, which is expected to produce more than 1,500 tonnes per annum of green metal, with first production anticipated in 2025, according to the company's website. The plant will use green hydrogen in a reduction furnace to convert iron ore into sponge iron, revealed the company. Soroush Basirat, energy finance analyst, global steel at the Institute for Energy Economics and Financial Analysis, was also hopeful Albanese would help the growth of Australia's high-grade magnetite mining sector, as a key feedstock for green iron production. 'The industry remains focused on hematite mining due to its higher profit margins, but this approach limits flexibility,' Basirat told Mining Technology. 'A transition to magnetite mining – better suited for producing high-grade ore – has yet to gain traction. Given the long lead times for magnetite projects (often a decade to become operational and deliver stable output), government support is essential to accelerate development.' Of Australia's total economic demonstrated resources of iron ore, just over 58.29 billion tonnes (bt), some 24.25bt is magnetite ore, according to 2023 research from Australia Minerals, a collaboration of Australia's federal, state and Northern Territory Government geoscience agencies. The research added that the 'projected demand for high-grade iron ore products has provided momentum for the recent development of magnetite deposits, such as the Iron Road Central Eyre project in South Australia and Fortescue Metals Group's Iron Bridge project in Western Australia. Basirat continues that while the government 'is backing green iron initiatives, significantly more effort is needed to establish even a single low-emissions ironmaking facility in Australia'. To remain competitive in the evolving global iron ore market, Australia must also act swiftly to diversify beyond hematite and invest in the future of high-grade, low-emissions iron production. 'Without action, Australia risks losing its competitive edge. Emerging competitors such as the Simandou [iron ore] mine in [Guinea], Africa, are set to enter the market and could claim a significant share by the end of the decade, challenging Australia's dominance, which has been largely built on lower-grade ores,' Basirat adds. There is an 'urgent need' to shift toward producing high-grade iron ore that is suitable for the direct reduced iron pathway, says Basirat, noting that this process is 'critical as steelmakers transition to more environmentally friendly technologies such as electric arc furnaces to replace the traditional, coal-based blast furnace-basic oxygen furnace method'. Australia's minerals sector is central to the nation's prosperity, says an early May statement from the Mineral Council of Australia (MCA), 'supporting over 1.2 million jobs, contributing more than A$455bn in export earnings last year, and playing a vital role in the global energy transition through the supply of critical minerals'. Tania Constable, CEO, MCA, added that she hopes the new government 'will place investment at the heart of its economic growth strategy [with a] strong focus on skills, training and workforce, ensuring that Australia has the capability and talent it needs to meet growing demand for critical minerals and resources'. Some key aspects of the policy are tax incentives for processing of critical minerals and production of hydrogen, as well as resources to assess the dangers of foreign investment in critical infrastructure, critical minerals and critical technology. The Association of Mining and Exploration Companies' CEO, Warren Pearce, welcomed the re-election, and publicly stated that his organisation is 'ready and willing to work constructively with the returned Albanese government to deliver the minerals and metals critical to Australia's prosperity and the global energy transition'. Pearce added that it is now time 'for action on key policy initiatives that will support long-term investment and drive Australia's international competitiveness, especially in critical minerals'. 'The exploration sector is struggling,' said Pearce, 'with investment extremely hard to come by, and this crucial cog in the wheel of mining industry needs clarity around the continuation of Junior Minerals Exploration Incentive (JMEI)'. The JMEI encourages investment in small minerals exploration companies that carry out greenfields mineral exploration in Australia, allowing eligible companies to generate tax credits by choosing to give up a portion of their losses from greenfields mineral exploration expenditure. Initially introduced in 2017, JMEI is currently funded until the end of June 2025. Rebecca Tomkinson, CEO, Chamber of Minerals and Energy Western Australia, sees the re-election of Albanese as a chance to streamline environmental regulations, with reform of 'environmental law long overdue, but any change must [offer] improving outcomes for both the environment and for business'. "As Albanese returns, what next for Australia's mining and minerals? " was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 hours ago
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MN House, Senate convene for special session to pass state budget
Minnesota lawmakers returned to the Capitol Monday morning to complete the state's next two-year budget as agencies prepared to warn thousands of government employees of a potential government shutdown next month. Most of the state government only has funding through the end of June after the Legislature failed to pass the majority of the bills that form the roughly $66 billion state budget by the end of the regular legislative session on May 19. Gov. Tim Walz called a special session so lawmakers can finish their work. State leaders finalized the details in a series of mostly closed meetings over the last few weeks. The Senate and House went into session at 10 a.m. and are expected to finish their work by Tuesday morning. However, there's no guarantee that will happen. Democratic-Farmer-Labor and Republican legislative leaders and the governor may have signed an agreement to finish up the special session by 7 a.m. Tuesday, but nothing can stop other state senators and representatives from introducing amendments and engaging in lengthy debate on controversial bills. Some bills that are part of the budget deal between Walz, the tied House and DFL majority Senate may pass on thin margins. A proposal to end state-funded health insurance for adults in the U.S. without legal immigration status is opposed by many DFLers and may only pass with the support of Republicans and the DFL leaders who signed the agreement. Senate Majority Leader Erin Murphy, DFL-St. Paul, and House DFL Leader Melissa Hortman, of Brooklyn Park, have said they agreed to remove coverage for adults to avert a government shutdown, which would interrupt services on a much larger scale. The immigrant care proposal was the first bill the House took up Monday morning, and representatives continued to debate the matter as noon approached. If the measure passes both chambers, Walz would have a tough time vetoing it. Republicans managed to get DFLers to agree to tie the activation of health care spending to ending MinnesotaCare for around 17,000 adults in the state who came to the U.S. illegally. Meanwhile, GOP lawmakers have expressed reservations about the tax and transportation bills. The tax bill includes an increase to the sales tax on cannabis, and Republican leadership had initially said it wouldn't support any new taxes, and some members may stick to that pledge. There were also questions on Friday about whether a proposal to shift $93 million in sales tax revenue from metro counties to the Metropolitan Council would survive floor votes, as members of both parties might turn on shifting money from local governments to a central planning agency. This is a developing story that will update throughout the day. Letters: It's unfortunate that we can't have certain conversations Gov. Tim Walz calls for special session for Legislature Monday Timeline for Minnesota special session blurry as budget talks continue MN government return to office order kicks in as shutdown layoffs loom Ramsey County: Economic Development Authority to allow flexibility on housing projects
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4 hours ago
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Why some Canadians are alarmed by Mark Carney's pledge to act with urgency
Canadians elected Prime Minister Mark Carney's Liberal government based on its pledge to act with urgency and fix things — the country's economy, its security and its standing on the world stage. But with the unveiling of a bill to supercharge the economy and early efforts to improve the country's adversarial relations with India and China, there's growing concern that Carney's plans to boost Canada could involve unsavoury trade offs. Ask Indigenous leaders who were left out of 'nation-building' meetings or were given just a week to comment on legislation that will fast track infrastructure projects reasonably expected to pass through their treaty-protected territories. Ask Sikh-Canadian leaders who have seen their members targeted for death or violence, allegedly on orders from Indian government agents. Last Friday, they listened as Carney defended his G7 invitation to Indian Prime Minister Narendra Modi as one that 'makes sense' based on India's economic power, population and key role in international 'supply chains.' Ask foreign aid organizations, perhaps, if Canada commits to radically increasing defence spending along with NATO allies at a leaders' summit planned for later this month. Carney is not alone in his apparent willingness to step on toes if it means he can move further and faster in responding to the sense of emergency at hand. It's part of a global movement with governments invoking looming threats and emerging risks to push through all sorts of questionable — and sometimes contestable — priorities. The most blatant example is the one that has sparked the economic emergency in Canada. U.S. President Donald Trump's tariffs on imports have been pushed through not with legislation that can be studied, debated and voted upon, but through presidential executive orders invoking real or imagined national emergencies at the Canada-U. S. border. They are premised upon risks from America-bound migrants, fentanyl, steel and cars and, despite initial court rulings that tranches of the tariffs are illegal under U.S. law, they remain in effect. Likewise, the generalized panic that Russia's three-years-and-counting war against Ukraine has instilled in Europe. There is legitimate reason to worry about the longer-term intentions of Russian President Vladimir Putin, a leader who has been unwilling to agree to a ceasefire despite sanctions, despite diplomatic isolation, despite the more recent appeals, threats and exhortations of the Trump administration. But preparations for a potentially wider conflict on the European continent now have German officials talking about rehabilitating long-abandoned bunkers, Poland vowing to build up 'the strongest army in the region,' and Swedish households receiving an alarming 32-page pamphlet from their government entitled: 'In case of crisis or war.' 'To all residents of Sweden: we live in uncertain times,' the booklet begins ominously. It goes on to cover everything from securing one's home to digital safety to instructions on how to stop bleeding to advice about handling pets and talking to children. This is the political and emotional backdrop against which Canada and other NATO member states later this month are expected to back an agreement to steeply increase in their national defence budgets, moving to five per cent of GDP from two per cent. If agreed to, it will result in many billions of dollars going to weapons, tanks, planes and soldiers' salaries. But before those purchases can go ahead, there will be many difficult choices made about how to come up with the funds. Governments always talk about finding budget efficiencies for unexpected priorities, though saving is not a specialty for which politicians are well suited. Even Donald Trump and Elon Musk came up spectacularly short of their savings pledges through the Department of Government Efficiency. More frequently, governments end up robbing Peter in order to pay Paul, as the saying goes — cutting spending in on domain to increase it in another. That is exactly what the United Kingdom did with blunt effect when it announced earlier this year that it would slash foreign aid spending drastically in order to increase the defence budget. 'Few countries have articulated such a direct, one-to-one trade off before between those two areas of public spending,' noted a report from ODI Global , a think tank, that criticized the British government for thinking of defence and foreign-aid spending as an either-or choice. Similar potential trade offs are cause for concern in Canada. Will the urgency to build oil pipelines and assert the country as an 'energy superpower' in new markets come at the cost of Canada's fight against global warming? Carney's reputation as a climate-change warrior is well-established, but his use of the oil-and-gas industry's ' marketing speak ' at a recent meeting first ministers' meeting with provincial premiers has some worried about the economy taking priority over the environment. Inuit Tapiriit Kanatami, the national association representing Canadian Inuit, wasn't even invited to the first ministers' meeting, which concluded with a statement about the need to 'unlock the North's economic potential.' 'It is troubling that in 2025, the Government of Canada is so comfortable with empty rhetoric in place of rightful participation,' the Inuit association said in a news release . The legislation to get Carney's economic fast-track transformation under way — one that the Liberal government wants to pass into law by Canada Day — was decried by the Assembly of First Nations, which had just seven days to provide any concerns about the bill, APTN News reported . There are those who will defend a go-fast approach to governing in extraordinary times. They will warn that there is a greater risk in being sunk by the status quo — the never-ending consultations, the delays, red-tape entanglements. 'The advantage of a wartime mentality lies in the sense of urgency it introduces, and the readiness it encourages to push aside unnecessary bureaucratic barriers,' wrote Lawrence Freedman, an emeritus professor of War Studies at King's College London, in a piece about Russia, Ukraine and Europe. It's a line that can be applied as equally to Ottawa as to Moscow, Kyiv, Paris, Brussels or London. But one person's bureaucratic barrier is the next person's guard rail — a measure ensuring confidence, protecting against damaging errors, saving lives. Moving at high speeds, it can be difficult to spot the difference.
