First Nations Election Wrap
The election dust has settled and the results are clear: Prime Minister Anthony Albanese and Labor secured a landslide victory. Join Kerri-Lee as she chats to Jon Faine about whats next post election.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
29 minutes ago
- West Australian
Rita Saffioti refuses to deny that State Government will dump power bill credits
WA's economy is in 'very different' environment compared to when the State Government started rolling out power bill credits three years ago, Rita Saffioti believes, as she prepares to hand down a budget without the cost of living measure. Ahead of Thursday's State Budget — Labor's first since the election — the Treasurer refused to be drawn on continued speculation the Government was intending to dump the $400 electricity bill credits after three years. Asked on Monday whether she had considered weaning households off the credit with a reduced discount from July, Ms Saffioti said the Government 'considered all aspects in relation to budget considerations'. 'You have to look at the environment in which we're operating in. In 2022, we were experiencing inflation rates of over 6 per cent to 8 per cent,' she said. 'That was a very, very different environment. So you always have to consider the environment in which you're operating in and making sure we continue to invest in key aspects of the economy. 'There is a Commonwealth energy relief that's coming through the energy rebate that we pay through the state system of $150 but we continually look at all different aspects of cost of living.' Ms Saffioti said she recognised families were still facing pressures on household budgets. 'That's why we continue to outline key, key measures like the Student Assistance Payment, other initiatives such as supporting new housing supply,' she said. 'There's a whole range of initiatives that go to support people in relation to managing their household budgets. 'We constantly monitor the environment, and we make a range of decisions to make sure we can support households.' It comes after The West revealed last week families were facing a 50 per cent increase in their annual power bills from July, with the Government mooted to be dumping the energy bill credit. In the lead up to this year's dual State and Federal elections, both governments forked out electricity bill relief in the form of the power rebates of $400 and $300 respectively. Despite the Federal Government's decision to extend their $150 power bill rebate program for the last six months of this year, WA Labor's end to credits will mean households have to pay an extra $550 in the year from July. That, coupled with the 2.8 per cent increase, mean the average household modelled in the State Budget will see power prices rise from $1200 to more than $1800.
News.com.au
34 minutes ago
- News.com.au
Energy shares soared on Israel, Iran conflict
Australia's sharemarket eked out a tiny gain during Monday afternoon's trading, thanks largely to energy stocks lifted by a spike in the oil and uranium price. The benchmark ASX 200 index finished slightly higher up just 1 point or 0.01 per cent to finish trading on Monday at 8,5484. The broader All Ordinaries have marginally finished in the green, adding 4.40 points or 0.05 per cent to 8,775.00. The Australian dollar rose during Monday's trading and is now buying 65.04 US cents. On a mixed day for the market, five of the 11 sectors finished higher led by the energy sector which soared a number of key announcements. The price of crude oil sharply rose over the weekend, after tensions between Iran and Israel saw the two nations firing missiles at each other. Shares in Woodside jumped 3 per cent to $25.96, Ampol also gained 0.19 per cent to $25.86 and Beach Energy jumped 1.92 per cent to $1.32. Santos shares were up 11 per cent to $7.72 after a UAE consortium-led takeover proposal for Santos to the tune of $28.87bn, as well as rising oil prices. IG market analyst Tony Sycamore said while the situation in the Middle East remained fluid, Israel's early successes in knocking out large parts of Iran's military was muting the jump in oil prices. 'There are fears that Iran may close the Strait of Hormuz, which would impact oil trade, as it is the primary route for oil exports from major OPEC producers like Saudi Arabia, Iraq, the UAE, and Kuwait,' Mr Sycamore said. 'This is viewed as a measure of last resort by Iran, as it would affect its main customers, China and India, and increase the likelihood of US military intervention.' Uranium stocks were also the major winners with Deep Yellow soaring 22.93 per cent to $1.59, Boss Energy gained 20.1 per cent to $4.42 and Paladin Energy also jumped 16.90 per cent to $7.36. 'There is an idea that there is going to be a $20bn investment in data centres over the next five years by a tech giant, which is giving the shares a boost,' he said. 'The second part of this is that the Spott Physical Uranium Trust will raise $US100m to buy the nuclear fuel.' While the energy stocks jumped, consumer staples were the biggest hit on fears of higher oil costs impacting these stocks costs. Woolworths shed 1.2 per cent to $31.80, Coles was 0.7 per cent off to $22.06, Treasury Wine and Endeavour Group dipped 2.4 per cent to $3.99. Treasury Wine Estates also fell 1.49 per cent to $7.93 while A2 Milk finished in the red down 1.24 per cent to $7.95. 'At the end of the day there is a risk of higher energy markets,' he said. 'If energy prices stay higher that flows into core prices because crude oil is the lifeblood of so much in terms of production and transportation cost.' In corporate news shares in Campervan group Tourism Holdings shares soared 56.04 per cent to $2.13 after announcing a $471m bid from BHP Capital. While shares in infant formula maker Bubs also finished strongly in the green up 6.25 per cent to $0.17 after telling the market it submitted clinical trial data to the US FDA under the New Infant Formula Submissions.
ABC News
40 minutes ago
- ABC News
Federal politics: Richard Marles willing to shake up bureaucracy to ensure timely delivery of major projects — as it happened
Defence Minister Richard Marles has warned defence officials and top brass he is willing to shake up the bureaucracy to ensure it delivers major projects on time. Meanwhile, the federal government is working to arrange repatriation flights for hundreds of Australians trapped in the Middle East. Foreign Minister Penny Wong says 350 Australians in Iran and 300 people in Israel have registered for assistance. Take a look back at the day's coverage below.
