Queensland hits out at ‘ideological' Victorian energy policy
Queensland Energy Minister David Janetzki says the decision to cancel a major wind farm project does not spell the end of renewables investment, as he took a swipe at the Victorian government's handling of energy policy.
Renewables advocates labelled Queensland 'closed for clean business' on Monday after Deputy Premier Jarrod Bleijie cancelled Greenleaf Renewables' proposed Moonlight Ridge wind farm near Rockhampton, even though the project had received planning approvals.
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Perth Now
38 minutes ago
- Perth Now
'Sheer hell': elder pleads for Liberals to save Pesutto
A senior Liberal figure has piled pressure on the party to come to the rescue of former state leader John Pesutto over his unpaid multimillion-dollar legal bill. Mr Pesutto was ordered to pay $2.3 million in legal costs to first-term Victorian MP Moira Deeming after their high-stakes defamation battle. The Federal Court found he defamed Mrs Deeming by implying she was associated with neo-Nazis who gatecrashed a controversial Melbourne rally she attended in 2023. Her lawyers issued a bankruptcy notice to the court on Monday, leaving Mr Pesutto 21 days to pay the debt, sign up to a payment arrangement or face bankruptcy. Bankruptcy would force his exit from Victorian parliament, setting up an expensive by-election in his marginal state seat of Hawthorn in Melbourne's east. With a final deadline approaching, former Liberal premier Jeff Kennett has written to the party's administrative committee to encourage it to foot the bill rather than offering a loan. In the letter, seen by AAP, Mr Kennett said he believed the committee was about to meet to discuss the issue and listed 10 points for its consideration. He labelled Mr Pesutto's situation "sheer hell" and stressed the matter could be quickly resolved if the party pays the outstanding claims against him. "Regardless of what you think of John personally, what he said, the judgement, the consequences are much greater than an individual," he wrote. "In principle and in practice. It is wrong to ask him to foot the bills, to bankrupt him and his family. "Wrong to ask him to borrow money from the capital funds we might have at our disposal." A GoFundMe campaign for Mr Pesutto's cause has raised more than $210,000. Mr Kennett acknowledged the court decided some of Mr Pesutto's words were "inappropriate" and "defamatory", but argued the party should be meeting all of his costs as he was acting as its "agent" at the time. He called for the administrative committee to act decisively, declaring it was not the "Liberal way" to leave Mr Pesutto to fend for himself. "Remember money can always be replaced, a change of government cannot," Mr Kennett said. "Please put personalities to one side and put the Party's interest front and centre." Mrs Deeming, who was expelled from the Liberals' parliamentary ranks before returning in December after Mr Pesutto lost the leadership, declined to comment on Mr Kennett's intervention. The upper house MP has previously foreshadowed she may pursue cost recovery through Mr Kennett and Mr Pesutto's other defamation defence donors if the Hawthorn MP declares bankruptcy. Mr Pesutto said he was doing "everything possible" over the next weeks to repay what he owes Mrs Deeming.
The Advertiser
3 hours ago
- The Advertiser
Credit rating downgrade cost unknown for debt-hit state
Treasury boffins have not considered the fallout of another credit rating downgrade on paying down ballooning state debt. As parliamentary hearings into the Victorian state budget got underway on Tuesday, Department of Treasury and Finance secretary Chris Barrett admitted the threat of a credit rating downgrade was not modelled. The department has only assessed the budgetary impact of a 100 basis points rise in interest rates. Credit rating downgrades make it more expensive for governments to service debt, leaving less money to spend on critical services and infrastructure such as hospitals, roads and schools. Victoria's net debt is forecast to reach $194 billion by mid-2029, sending interest repayments soaring close to $29 million a day. S&P Global Ratings downgraded Victoria's credit rating two notches in 2020 from AAA to AA, the lowest of any Australian state or territory. Fellow ratings agency Moody's followed suit, stripping the state of its AAA status in February 2021 and downgrading it from AA1 to AA2 in 2022. Treasurer Jaclyn Symes is travelling to the US to meet with ratings agencies, including representatives from Moody's on Friday. Moody's post-budget report said Victoria's economic outlook remains positive, with the improving economic backdrop expected to ease risks from high and rising debt. But it warned Victoria wasn't completely out of the woods for a credit ratings downgrade. "Global economic uncertainties and geopolitical tensions pose risks to the fiscal outlook," the report said. "Should the risks materialise, or reform momentum weakens, or both, the potential for higher-than-expected debt and interest burdens would further weigh on Victoria's credit profile." Ms Symes also defended the use of treasurer's advances for major project milestones and sparred with Nationals MP Jade Benham over the government's controversial emergency services levy. All Victorian farmers will be spared from paying the increased tax on their land for 2025/26 after the entire state was declared drought-affected on Friday. The one year reprieve, along with carve-outs for Country Fire Authority and State Emergency Service volunteers and life members, means the expanded levy is expected to raise $73 million less than expected. But the treasurer remained adamant it won't compromise the Allan Labor government's funding commitments for emergency services. Treasury boffins have not considered the fallout of another credit rating downgrade on paying down ballooning state debt. As parliamentary hearings into the Victorian state budget got underway on Tuesday, Department of Treasury and Finance secretary Chris Barrett admitted the threat of a credit rating downgrade was not modelled. The department has only assessed the budgetary impact of a 100 basis points rise in interest rates. Credit rating downgrades make it more expensive for governments to service debt, leaving less money to spend on critical services and infrastructure such as hospitals, roads and schools. Victoria's net debt is forecast to reach $194 billion by mid-2029, sending interest repayments soaring close to $29 million a day. S&P Global Ratings downgraded Victoria's credit rating two notches in 2020 from AAA to AA, the lowest of any Australian state or territory. Fellow ratings agency Moody's followed suit, stripping the state of its AAA status in February 2021 and downgrading it from AA1 to AA2 in 2022. Treasurer Jaclyn Symes is travelling to the US to meet with ratings agencies, including representatives from Moody's on Friday. Moody's post-budget report said Victoria's economic outlook remains positive, with the improving economic backdrop expected to ease risks from high and rising debt. But it warned Victoria wasn't completely out of the woods for a credit ratings downgrade. "Global economic uncertainties and geopolitical tensions pose risks to the fiscal outlook," the report said. "Should the risks materialise, or reform momentum weakens, or both, the potential for higher-than-expected debt and interest burdens would further weigh on Victoria's credit profile." Ms Symes also defended the use of treasurer's advances for major project milestones and sparred with Nationals MP Jade Benham over the government's controversial emergency services levy. All Victorian farmers will be spared from paying the increased tax on their land for 2025/26 after the entire state was declared drought-affected on Friday. The one year reprieve, along with carve-outs for Country Fire Authority and State Emergency Service volunteers and life members, means the expanded levy is expected to raise $73 million less than expected. But the treasurer remained adamant it won't compromise the Allan Labor government's funding commitments for emergency services. Treasury boffins have not considered the fallout of another credit rating downgrade on paying down ballooning state debt. As parliamentary hearings into the Victorian state budget got underway on Tuesday, Department of Treasury and Finance secretary Chris Barrett admitted the threat of a credit rating downgrade was not modelled. The department has only assessed the budgetary impact of a 100 basis points rise in interest rates. Credit rating downgrades make it more expensive for governments to service debt, leaving less money to spend on critical services and infrastructure such as hospitals, roads and schools. Victoria's net debt is forecast to reach $194 billion by mid-2029, sending interest repayments soaring close to $29 million a day. S&P Global Ratings downgraded Victoria's credit rating two notches in 2020 from AAA to AA, the lowest of any Australian state or territory. Fellow ratings agency Moody's followed suit, stripping the state of its AAA status in February 2021 and downgrading it from AA1 to AA2 in 2022. Treasurer Jaclyn Symes is travelling to the US to meet with ratings agencies, including representatives from Moody's on Friday. Moody's post-budget report said Victoria's economic outlook remains positive, with the improving economic backdrop expected to ease risks from high and rising debt. But it warned Victoria wasn't completely out of the woods for a credit ratings downgrade. "Global economic uncertainties and geopolitical tensions pose risks to the fiscal outlook," the report said. "Should the risks materialise, or reform momentum weakens, or both, the potential for higher-than-expected debt and interest burdens would further weigh on Victoria's credit profile." Ms Symes also defended the use of treasurer's advances for major project milestones and sparred with Nationals MP Jade Benham over the government's controversial emergency services levy. All Victorian farmers will be spared from paying the increased tax on their land for 2025/26 after the entire state was declared drought-affected on Friday. The one year reprieve, along with carve-outs for Country Fire Authority and State Emergency Service volunteers and life members, means the expanded levy is expected to raise $73 million less than expected. But the treasurer remained adamant it won't compromise the Allan Labor government's funding commitments for emergency services. Treasury boffins have not considered the fallout of another credit rating downgrade on paying down ballooning state debt. As parliamentary hearings into the Victorian state budget got underway on Tuesday, Department of Treasury and Finance secretary Chris Barrett admitted the threat of a credit rating downgrade was not modelled. The department has only assessed the budgetary impact of a 100 basis points rise in interest rates. Credit rating downgrades make it more expensive for governments to service debt, leaving less money to spend on critical services and infrastructure such as hospitals, roads and schools. Victoria's net debt is forecast to reach $194 billion by mid-2029, sending interest repayments soaring close to $29 million a day. S&P Global Ratings downgraded Victoria's credit rating two notches in 2020 from AAA to AA, the lowest of any Australian state or territory. Fellow ratings agency Moody's followed suit, stripping the state of its AAA status in February 2021 and downgrading it from AA1 to AA2 in 2022. Treasurer Jaclyn Symes is travelling to the US to meet with ratings agencies, including representatives from Moody's on Friday. Moody's post-budget report said Victoria's economic outlook remains positive, with the improving economic backdrop expected to ease risks from high and rising debt. But it warned Victoria wasn't completely out of the woods for a credit ratings downgrade. "Global economic uncertainties and geopolitical tensions pose risks to the fiscal outlook," the report said. "Should the risks materialise, or reform momentum weakens, or both, the potential for higher-than-expected debt and interest burdens would further weigh on Victoria's credit profile." Ms Symes also defended the use of treasurer's advances for major project milestones and sparred with Nationals MP Jade Benham over the government's controversial emergency services levy. All Victorian farmers will be spared from paying the increased tax on their land for 2025/26 after the entire state was declared drought-affected on Friday. The one year reprieve, along with carve-outs for Country Fire Authority and State Emergency Service volunteers and life members, means the expanded levy is expected to raise $73 million less than expected. But the treasurer remained adamant it won't compromise the Allan Labor government's funding commitments for emergency services.
West Australian
3 hours ago
- West Australian
Credit rating downgrade cost unknown for debt-hit state
Treasury boffins have not considered the fallout of another credit rating downgrade on paying down ballooning state debt. As parliamentary hearings into the Victorian state budget got underway on Tuesday, Department of Treasury and Finance secretary Chris Barrett admitted the threat of a credit rating downgrade was not modelled. The department has only assessed the budgetary impact of a 100 basis points rise in interest rates. Credit rating downgrades make it more expensive for governments to service debt, leaving less money to spend on critical services and infrastructure such as hospitals, roads and schools. Victoria's net debt is forecast to reach $194 billion by mid-2029, sending interest repayments soaring close to $29 million a day. S&P Global Ratings downgraded Victoria's credit rating two notches in 2020 from AAA to AA, the lowest of any Australian state or territory. Fellow ratings agency Moody's followed suit, stripping the state of its AAA status in February 2021 and downgrading it from AA1 to AA2 in 2022. Treasurer Jaclyn Symes is travelling to the US to meet with ratings agencies, including representatives from Moody's on Friday. Moody's post-budget report said Victoria's economic outlook remains positive, with the improving economic backdrop expected to ease risks from high and rising debt. But it warned Victoria wasn't completely out of the woods for a credit ratings downgrade. "Global economic uncertainties and geopolitical tensions pose risks to the fiscal outlook," the report said. "Should the risks materialise, or reform momentum weakens, or both, the potential for higher-than-expected debt and interest burdens would further weigh on Victoria's credit profile." Ms Symes also defended the use of treasurer's advances for major project milestones and sparred with Nationals MP Jade Benham over the government's controversial emergency services levy. All Victorian farmers will be spared from paying the increased tax on their land for 2025/26 after the entire state was declared drought-affected on Friday. The one year reprieve, along with carve-outs for Country Fire Authority and State Emergency Service volunteers and life members, means the expanded levy is expected to raise $73 million less than expected. But the treasurer remained adamant it won't compromise the Allan Labor government's funding commitments for emergency services.
