New MP Mary Aldred urges business to help women into the Liberals
New Liberal MP Mary Aldred, who last week officially won the federal seat of Monash in Victoria to become one of just seven female lower house representatives for the party, says employers need to take a greater role in helping women and young professionals into politics.
Despite her win, the Coalition, which was trounced in the election, is confronting its failure to win young and female voters and a former president, Alan Stockdale, who thinks the female members are too assertive and joked it may need reverse quotas for men. While Australia will have more female representatives in this federal parliament than ever before, the Liberals' female ranks have reached a new low.
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7NEWS
an hour ago
- 7NEWS
Hyundai expects an exodus of brands due to new Australian emissions regulations
Australia's stringent new vehicle emissions regulations are set to send a host of auto brands running from these shores, according to local Hyundai chief Don Romano. The ink officially dried on the federal government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it legislation designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. The recent federal election brought with it some uncertainty about the NVES, with former Liberal leader Peter Dutton promising to scrap the legislation. However, in the wake of Labor's win led by Anthony Albanese, there's no longer any doubt about whether it will be enforced. Speaking to CarExpert at the launch of the pint-size Hyundai Inster electric SUV, Mr Romano said that many automakers will be caught off guard by the punitive new regulations. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. 'When it comes down to NVES, there's going to be a lot of brands that are going to start falling apart because they're burying their heads in the sand,' said Mr Romano. 'They're not doing the math, they're not looking at just how much this is going to cost them to stay in business in Australia. 'I think you're going to see an exodus. You're going to see a number of brands that finally say 'I can't do it', unless the government that we just re-elected makes the decision to go in a different direction, which I think is unlikely given the election results.' Hyundai has backed the NVES from early in the piece, expressing confidence in meeting the Australian Government's tightening CO2 targets between 2025 and 2029. However, some of its rivals have been less supportive and others including Toyota have indicated that fines would ultimately be passed onto consumers in the form of price hikes. Having taken over as Hyundai Australia CEO just a few months ago, Mr Romano will lead the brand in its response to NVES with a focus on electric vehicles (EVs) and other 'future energy' initiatives. 'Let's do it like Europe, [where] they're just going, 'okay, we've got to live with it, let's deal with it'. And guess what we're seeing right now in Europe? A resurgence in EVs,' he said. While Hyundai is prepared to tackle tightening emissions regulations, Mr Romano still sees significant room for improvement in how policy is used to accelerate the transition towards greener forms of transport. 'What the government is doing is half-baked,' he concluded. 'They're pushing us to move to BEVs, only us. What they're missing, not just in Australia but everywhere, is the fact that the gas [petroleum] companies aren't being pushed to put in the charging infrastructure. 'If you were to do that, I think that resurgence would push even higher. Right now we're at 20 per cent BEVs in Europe, with a much more robust charging infrastructure. 'Once you start doing that, then you start getting economies of scale, and then all the costs start to come down. At that point you're going to see all the advantages of BEVs, and they'll be less expensive ultimately than an ICE vehicle. 'The only way to get there… is to have a more robust charging infrastructure that engenders a lot of confidence in buyers to buy.' Less than one in 10 vehicles sold in Australia last year were EVs (91,292 of more than 1.22 million), although that number was up 4.7 per cent on the previous year.
Perth Now
an hour ago
- Perth Now
Hyundai expects an exodus of brands due to new Australian emissions regulations
Australia's stringent new vehicle emissions regulations are set to send a host of auto brands running from these shores, according to local Hyundai chief Don Romano. The ink officially dried on the federal government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it legislation designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. The recent federal election brought with it some uncertainty about the NVES, with former Liberal leader Peter Dutton promising to scrap the legislation. However, in the wake of Labor's win led by Anthony Albanese, there's no longer any doubt about whether it will be enforced. Speaking to CarExpert at the launch of the pint-size Hyundai Inster electric SUV, Mr Romano said that many automakers will be caught off guard by the punitive new regulations. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert 'When it comes down to NVES, there's going to be a lot of brands that are going to start falling apart because they're burying their heads in the sand,' said Mr Romano. 'They're not doing the math, they're not looking at just how much this is going to cost them to stay in business in Australia. 'I think you're going to see an exodus. You're going to see a number of brands that finally say 'I can't do it', unless the government that we just re-elected makes the decision to go in a different direction, which I think is unlikely given the election results.' Hyundai has backed the NVES from early in the piece, expressing confidence in meeting the Australian Government's tightening CO2 targets between 2025 and 2029. However, some of its rivals have been less supportive and others including Toyota have indicated that fines would ultimately be passed onto consumers in the form of price hikes. Having taken over as Hyundai Australia CEO just a few months ago, Mr Romano will lead the brand in its response to NVES with a focus on electric vehicles (EVs) and other 'future energy' initiatives. Supplied Credit: CarExpert 'Let's do it like Europe, [where] they're just going, 'okay, we've got to live with it, let's deal with it'. And guess what we're seeing right now in Europe? A resurgence in EVs,' he said. While Hyundai is prepared to tackle tightening emissions regulations, Mr Romano still sees significant room for improvement in how policy is used to accelerate the transition towards greener forms of transport. 'What the government is doing is half-baked,' he concluded. 'They're pushing us to move to BEVs, only us. What they're missing, not just in Australia but everywhere, is the fact that the gas [petroleum] companies aren't being pushed to put in the charging infrastructure. 'If you were to do that, I think that resurgence would push even higher. Right now we're at 20 per cent BEVs in Europe, with a much more robust charging infrastructure. Supplied Credit: CarExpert 'Once you start doing that, then you start getting economies of scale, and then all the costs start to come down. At that point you're going to see all the advantages of BEVs, and they'll be less expensive ultimately than an ICE vehicle. 'The only way to get there… is to have a more robust charging infrastructure that engenders a lot of confidence in buyers to buy.' Less than one in 10 vehicles sold in Australia last year were EVs (91,292 of more than 1.22 million), although that number was up 4.7 per cent on the previous year. MORE: Everything Hyundai MORE: How Hyundai Australia's new boss plans to reverse Korean brand's sales slide
Sky News AU
2 hours ago
- Sky News AU
Labor's super tax includes option to avoid asset sales by allowing option to pay tax from super fund, Sky News reveals
Sky News can reveal the Albanese government's tax on superannuation balances above $3 million will allow people to pay the charge directly from their super funds. The move is designed to counter concerns that individuals will be forced to sell assets such as farms or investment properties to meet the cost of the tax. The option mirrors existing provisions under Division 293 of the tax code, the extra tax on people earning more than $250,000 a year. Under Labor's plan, the same mechanism will be available, enabling individuals to use their super balance to pay the tax, even though it will apply to unrealised capital gains. Treasurer Jim Chalmers believes the fact that people can pay the tax out of their super should negate the argument people will have to offload assets to pay the tax. The proposed tax—an extra 15 per cent on earnings for balances over $3 million—has drawn heavy criticism for including unrealised capital gains. Critics have warned that taxing unrealised gains could unfairly impact superannuants whose wealth is tied up in volatile or illiquid assets like property or businesses. Adding to concerns has been the government's decision not to index the $3 million threshold to inflation. AMP Deputy Chief Economist Diana Mousina conducted modelling that showed the average 22-year-old will be hit by the tax by the time they retire. The government has said the measure is modest, fiscally responsible, and affects only a small proportion of high-balance accounts. The Coalition has confirmed it will oppose the super tax 'every step of the way' after speculation about possible negotiation on the indexation and unrealised gains. Shadow treasurer Ted O'Brien has slammed the proposal as 'grossly unfair' and said it 'flies in the face' of Coalition values. 'To think a person can make a theoretical profit—no money in their bank—and get taxed on it every year, that's not fair,' Mr O'Brien told Sky News on Thursday. The government is expected to rely on support from the Greens to pass the legislation in the Senate. The minor party has indicated in-principle support but has floated two possible amendments - lowering the threshold to $2 million and ensuring it is indexed to inflation. Some politicians under the generous defined benefit pension schemes will not have to pay the tax until after they retire. Sky News Sunday Agenda also revealed recently that state officials on the old pension schemes will be exempted from the tax due to constitutional protections.
