
Australia and UK strengthen AUKUS pact with a 50-year treaty
Published 25 July 2025, 9:00 am
While the Australian government has not ruled out recognising Palestinian statehood at the New York talks in September, the Prime Minister today described the situation in Gaza as a humanitarian catastrophe. Mr Albanese called on Israel to immediately comply with international law. As the international defence and security landscape continues to deteriorate the United Kingdom's foreign and defence secretaries have arrived in Australia for top level talks as the alliance grows in stature.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


West Australian
4 hours ago
- West Australian
Private R&D investment by Australian businesses falling, report finds ahead of roundtable
Private investment into research and development in Australian businesses is slipping backwards and comparatively lower to similar other nations, a new report shows. The report — collated by the Business Council of Australia ahead of Treasurer Jim Chalmer's productivity roundtable next month — identified a raft of targeted policies to boost business potential. It proposes offering extra incentives for collaboration and commercialisation, cutting red tape, and consolidating grants into major national programs. The report estimates that for every $1 spent on R&D, it generates $5 in economic value and $7 billion in gross domestic product (GDP) annually. If the suite of measures are implemented, it's expected to grow productivity in Australia 0.1 per cent each year. It also recommends a simpler R&D Tax Incentive by standardising tax offsets of 18.5 per cent above the company rate and removing its current $150 million cap. It's hoped having a single, consistent rule rather than the current different benefit rates depending on company size or how much they spend, would encourage firms to invest in R&D, especially smaller players. As for scrapping the cap, the policy is designed to allow businesses to claim tax offsets for all of their eligible R&D spend rather than just the first $150 million under the current framework. BCA chief executive Bran Black said the targeted policies were designed to fix Australia's productivity problems by unlocking investment, boosting jobs and wages. He said reversing the current trend, which has seen R&D investment drop 24 per cent in the last decade, would help drive innovation and productivity nationally. He said it was important businesses were given the 'right environment' to invest: 'If we don't act now then we will keep losing innovators, capital and ideas to other nations'. 'Better tax, collaboration and commercialisation policies will give businesses the confidence to take the next step and create new Australian technologies that benefit everyone's lives,' he said. The report will form part of a joint industry submission with well-known Australian software firm Atlassian and medical device company Cochlear. Cochlear chief executive and president Dig Howitt said policy reform and 'well-funded strategies' would be critical to unlocking more R&D in Australia. Atlassian chief of staff Amy Glancey said by supporting major companies to invest in R&D it would have a trickle down effect to create a better environment for entrepreneurship and innovation. Dr Chalmer's roundtable will be held at Parliament House August 19–21 and is expected to shape a shared agenda on improving productivity, strengthening budget sustainability, and building economic resilience. It has prompted a number of state-level consultations and spin-off roundtables, including one held on Friday by Independent MP Allegra Spender involving economists and industry figures in Canberra. The BCA, along with other industry bodies, companies, and government representatives, are finalising submissions ahead of the August roundtable, outlining ideas across tax, regulation, innovation, skills, and digital transformation to help lift Australia's productivity.

Sky News AU
4 hours ago
- Sky News AU
‘Defence spending front of mind': Australia and UK sign 50-year AUKUS commitment
Sky News Australia's Northern Territory correspondent Matt Cunningham discusses the UK and Australia signing a 50-year AUKUS pact. 'We did see that announcement over the weekend, this 50-year AUKUS pact that has been signed between Australia and the United Kingdom,' Mr Cunningham said. 'That issue of defence spending is certainly one that is front of mind. 'The UK is going to increase its defence spending to 2.5 per cent by 2027.'


Perth Now
4 hours ago
- Perth Now
Big step to kick off $25 medicines pledge
Labor will begin its first steps to legislate its election promise to cap the cost of scripts listed on the Pharmaceutical Benefits Scheme to $25 from January 1 of next year. Once passed, eligible medicines will be lowered from $31.60 to $25. The government estimates the change will save Australians $200m a year, while costing the budget $690m over four years. This is in addition to previous reforms which allowed patients to acquire 60-day prescriptions, and freezing the cost of medicine for pension and concession card holders at $7.70 until the end of 2029. Labor will begin its first steps to bring down the cost of PBS-listed medicines to just $25. NewsWire/ Dan Peled Credit: News Corp Australia The election pledge was also matched by the Coalition, suggesting the Bill will likely have a swift passage through parliament. Anthony Albanese said it was a promise delivered. 'This is another example of cost of living relief that helps every Australian,' Mr Albanese said. 'The size of your bank balance shouldn't determine the quality of your healthcare. My government will continue to deliver cost of living relief for all Australians.' Prime Minister Anthony Albanese said 'the size of your bank balance shouldn't determine the quality of your healthcare'. NewsWire / Martin Ollman Credit: News Corp Australia Mr Albanese said the government would continue to deliver cost of living relief for Aussies. NewsWire/Philip Gostelow Credit: News Corp Australia Health Minister Mark Bulter also welcomed the incoming Bill. 'Cheaper medicines are good for the hip pocket and good for your health,' Mr Butler said. 'For general patients medicines haven't been this cheap since 2004. 'For pension and concession card holders we've frozen your medicine prices at a maximum price of $7.70 until the end of the decade.' The Bill comes as the United States lashed Australia's PBS as 'discriminatory' amid tariff negotiations to remove the general 10 per cent levy, as well as fees on Australian steel and aluminium US imports. The government estimates the change will save Aussies $200m a year. NewsWire/Joel Carrett Credit: News Corp Australia Concerningly, US President Donald Trump has also flagged a 200 per cent tariff on pharmaceutical imports, which could have a major impact on $2bn of Australian exports. However the Albanese government said it is unwilling to use the PBS as a bargaining chip. On Sunday, Mr Albanese also faced a grilling over when Labor would introduce its proposed plan to double the tax on superannuation accounts over $3m up to 30 per cent. He said the Bill 'will come in time' and that the priority in the first fortnight was policies 'that make a difference to people's money in their pocket'. Perth MP and assistant minister to the Prime Minister Patrick Gorman said the government had been 'clear about our priorities' for the Bill and said he was 'confident it will pass'. 'I think we have seen in this building, time and time again, that when it comes to getting things through parliament, you have got to also let the parliamentary processes do their piece,' he said.