PM and Treasurer have at least admitted the productivity problem
Opening the first day of the summit between the government and business, union and community leaders on Tuesday, Prime Minister Anthony Albanese admitted how key the productivity challenge is to 'lifting living standards of Australians'. This was echoed in Jim Chalmers' introductory remarks. The treasurer said 'making the economy more productive over time was the best way to lift living standards and make people better off'. Chalmers even claimed that 'in one of the first cabinet meetings after the election we decided to put productivity at the very core of our second term agenda'.
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News.com.au
25 minutes ago
- News.com.au
Israeli PM Benjamin Netanyahu lashes Anthony Albanese over recent policy decisions, saying he had betrayed Israel
Israel's Prime Minister has levelled an astonishing personal attack on Anthony Albanese, calling his Australian counterpart a 'weak politician' who had 'betrayed' the Jewish state. Benjamin Netanyahu vented his anger at recent decisions by the Albanese government, including indicating it would recognise a Palestinian state and ripping up the visa of an MP in his government. 'History will remember Albanese for what he is: A weak politician who betrayed Israel and abandoned Australia's Jews,' Mr Netanyahu posted on his official X account on Tuesday night. The backlash comes days after Home Affairs Minister Minister Tony Burke cancelled the visa to allow far-right Israeli MP Simcha Rothman, before Israel retaliated by revoking the visas of Australian representatives to the Palestinian Authority. Israel's Foreign Minister Gideon Sa'ar said in a post on social media on Monday that the decision also followed Canberra's decision to recognise a Palestinian state. 'I decided to revoke the visas of Australian representatives to the Palestinian Authority. The Australian Ambassador to Israel was just notified on the matter,' Mr Sa'ar said. 'I also instructed the Israeli Embassy in Canberra to carefully examine any official Australian visa application for entry to Israel. 'This follows Australia's decisions to recognise a 'Palestinian state' and against the backdrop of Australia's unjustified refusal to grant visas to a number of Israeli figures, including former Minister Ayelet Shaked and the Chairman of the Knesset's Constitution, Law and Justice Committee, MK Simcha Rotman.' Foreign Minister Penny Wong early on Tuesday slammed Israel's decision. 'At a time when dialogue and diplomacy are needed more than ever, the Netanyahu government is isolating Israel and undermining international efforts towards peace and a two-state solution,' Senator Wong said in a statement. 'This is an unjustified reaction, following Australia's decision to recognise Palestine. 'We will continue to work with partners as we contribute international momentum to a two-state solution, a ceasefire in Gaza and release of the hostages.' Opposition Leader Sussan Ley has also taken aim at Australia's 'deteriorating' relationship. 'Israel is a Liberal democracy in the Middle East and we should be supporting them as that liberal democracy,' Ms Ley said earlier on Tuesday. 'The steps that the Albanese government has taken over recent days and weeks certainly have not demonstrated that.' Executive Council of Australian Jewry co-chief executive Alex Ryvchin called for calm to for the sake of the relationship between the two countries, hours before the Netanyahu post. 'Allies with extensive economic, scientific and cultural ties should not be engaging in a diplomatic tit-for-tat that erodes the goodwill and co-operation built up over decades,' Mr Ryvchin said. 'Calm heads need to take control of the situation otherwise there will be a risk to some $2bn in bilateral trade, extensive investment in Australian start-ups, vital security co-operation and the Israeli-made medicine and medical technology that we all rely on. 'There are real-life consequences here and we want to see the countries work through any issues before things get out of hand.' Mr Rothman – who forms a part Netanyahu's political party – was set to appear at speaking events across synagogues and Jewish schools as well as host meetings with victims and visit targeted institutions. He will now address Australian audiences through a major virtual event via Zoom after his visa was cancelled by Home Affairs Minister Tony Burke. The Australian Jewish Association (AJA) said it would hold 'one large communal event' that would allow Mr Rothman to 'address the Jewish community via Zoom. In a statement shared on X, the AJA said it had arranged for Mr Rothman to 'speak to many Australian synagogues, schools and other Jewish organisations', and the revoking of his visa was the 'latest of many anti-Semitic attacks on the Australian Jewish community'.
The Age
34 minutes ago
- The Age
Plibersek axes Morrison-era deal to ringfence pensioner savings
Baby boomers' pensions will be reduced as the Albanese government ends a three-year freeze and adjusts rates used to calculate how much retirees can earn on their cash investments. Social Services Minister Tanya Plibersek quietly issued a statement on Tuesday afternoon, during the government's high-profile economic roundtable, to reveal the end of a policy put in place by the Morrison government during the start of the COVID pandemic. Under the change, the expected or 'deemed' return on investments held by age pensioners – including self-funded retirees – will be lifted from 0.25 per cent to 0.75 per cent. While the changes to individual age pensioner's payments will vary based on their financial assets, the move comes as interest rates on savings accounts fall and is likely to enrage seniors who fought against sluggishly high deeming rates in 2019. The three-year freeze came to an end on July 1, two months after the election. Deeming is the process used by the government to calculate a uniform return on financial investments, such as savings accounts and term deposits, to simplify income rates when calculating pensions. Instead of requiring pensioners to provide their actual earned income on financial investments, a deemed rate is applied. Current deeming rates, which Plibersek said had been kept 'artificially low' since 2020, have remained well below real earnings from investments, inflating people's pension payments. She said the government kept this setting after the pandemic to 'help shield age pensioners and other income-support recipients while the economy recovered'. But bank deposit rates have lifted, largely in line with movements in the official cash rate, since the government put in place its deeming rate freeze.
Sydney Morning Herald
34 minutes ago
- Sydney Morning Herald
Plibersek axes Morrison-era deal to ringfence pensioner savings
Baby boomers' pensions will be reduced as the Albanese government ends a three-year freeze and adjusts rates used to calculate how much retirees can earn on their cash investments. Social Services Minister Tanya Plibersek quietly issued a statement on Tuesday afternoon, during the government's high-profile economic roundtable, to reveal the end of a policy put in place by the Morrison government during the start of the COVID pandemic. Under the change, the expected or 'deemed' return on investments held by age pensioners – including self-funded retirees – will be lifted from 0.25 per cent to 0.75 per cent. While the changes to individual age pensioner's payments will vary based on their financial assets, the move comes as interest rates on savings accounts fall and is likely to enrage seniors who fought against sluggishly high deeming rates in 2019. The three-year freeze came to an end on July 1, two months after the election. Deeming is the process used by the government to calculate a uniform return on financial investments, such as savings accounts and term deposits, to simplify income rates when calculating pensions. Instead of requiring pensioners to provide their actual earned income on financial investments, a deemed rate is applied. Current deeming rates, which Plibersek said had been kept 'artificially low' since 2020, have remained well below real earnings from investments, inflating people's pension payments. She said the government kept this setting after the pandemic to 'help shield age pensioners and other income-support recipients while the economy recovered'. But bank deposit rates have lifted, largely in line with movements in the official cash rate, since the government put in place its deeming rate freeze.
