Latest news with #AlbaneseGovernment
News.com.au
19 hours ago
- Business
- News.com.au
UN climate boss warns of 'mega-droughts' in dire climate forecast for Australia
Australians have been warned that fruit and vegetables may become a 'once-a-year treat' if the country fails to drastically lift its clean energy ambitions. In a stark message delivered in Sydney on Monday, UN Climate Change Executive Secretary Simon Stiell said Australia faced a future of 'mega-droughts', plummeting living standards and eye-watering economic losses if it does not go much further on emissions cuts. 'Mega-droughts (will make) fresh fruit and veg a once-a-year treat. In total, the country could face a $6.8 trillion GDP loss by 2050,' Mr Stiell said during an address hosted by the Smart Energy Council, per The Australian. His speech landed during a critical moment in Australia's climate debate, with the Albanese government preparing to reveal its updated 2035 emissions target and push to co-host the next UN climate summit, COP31, alongside Pacific nations. But as momentum builds internationally, domestic political opposition is also ramping up, chiefly led by Nationals MP Barnaby Joyce, who introduced a Private Member's bill this week to repeal Australia's net-zero commitment. Mr Stiell, who meets with Climate Change and Energy Minister Chris Bowen in Canberra today, said setting an ambitious target wasn't just about the environment, but rather economic survival. 'Australia has a strong economy and among the highest living standards in the world. If you want to keep them, doubling down on clean energy is an economic no-brainer,' he warned. 'Living standards could drop by over $7000 per person per year. And rising seas, resource pressures, and extreme weather would destabilise Australia's neighbourhood – from Pacific Island nations to Southeast Asia – threatening your security.' Australia's current pledge is to cut emissions by 43 per cent from 2005 levels by 2030. The Climate Change Authority (CCA) is reportedly weighing up whether to recommend a more aggressive target of 65 to 75 per cent by 2035. That advice is due by the end of this month. Mr Stiell claimed that anything less would fall short. 'Bog standard is beneath you,' he said. 'The question is: how far are you willing to go?' That decision must be made by September, when Australia is due to submit its updated Nationally Determined Contributions to the UN. It will come amid a wave of climate diplomacy for Prime Minister Anthony Albanese, who is expected to use a series of major international forums to press Australia's case to host COP31. Mr Stiell's warning was not just directed at the Albanese Government. It also served as a harsh jab at the growing campaign by Coalition backbenchers and conservative commentators arguing Australia's energy transition will hurt the economy and disadvantage regional communities. Nationals MP Barnaby Joyce on Monday accused inner-city Australians of pushing policies that harm the disadvantaged, saying: 'Are you prepared to hurt the poor?' Mr Joyce's 'Repeal Net Zero' bill, backed by several Coalition rebels, proposes scrapping Australia's carbon-neutral target by 2050, a goal in line with most other developed nations. 'There's absolutely no reason that Mascot Airport can't work 24/7,' he told reporters. 'But we understand that people don't want planes flying over themselves in the middle of the night … but we don't want transmission lines over our head either. We don't want wind towers either, so there's got to be a form of quid pro quo.' His argument suggests city-dwellers are demanding action on climate change without shouldering its costs, leaving regional communities to deal with some sort of flow-on infrastructure burden. 'You don't feel virtuous if you're hurting people,' Mr Joyce said. While the bill is unlikely to pass without support from Liberal moderates, Mr Joyce's position is influential within the Nationals and perhaps reflects a growing pushback on climate policy from prominent sections of the Coalition. Joining him outside Parliament House were fellow Nationals Michael McCormack and Liberal MP Garth Hamilton, the only member of the senior Coalition partner to back the bill publicly. Mr Stiell responded to the political noise over the past fortnight with a message of economic pragmatism and global responsibility. 'I think Australians get it. From cabinet rooms to boardrooms, from farms to factories to kitchen tables, you know unchecked climate change is an economic wrecking ball,' he said. 'You know half-measures will destroy property and infrastructure, hammer households, bankrupt regions, and punch holes in public budgets. And you know that real action opens the door to real leadership – and big rewards for this ambitious, capable country.' He warned Australians against short-term thinking and urged them to embrace a rapid energy transition. 'The change is working,' he said. 'Now consider the alternative: missing the opportunity and letting the world overheat. Go for what's smart by going big. Go for what will build lasting wealth and national security. Go for what will change the game – and stand the test of time. Go for it.'
West Australian
21 hours ago
- Health
- West Australian
Federal Government says ‘major public health breakthrough' found to tackle school vaping scourge
A school-based program aimed at preventing teens from vaping has been dubbed a 'major public health breakthrough' by the Albanese Government following the results of research into the initiative. The OurFutures education program is targeted at year 7 and 8 students and uses cartoon-based stories, quizzes, and classroom activities to inform and empower kids away from vaping. Fresh research funded by the Albanese Government has found students were 65 per cent less likely to vape in the 12 months after completing the program compared to those who hadn't. 'I'm delighted that we have been able to fund this work - education, prevention, demand reduction is a critical part of our vaping strategy,' Health Minister Mark Butler said. 'This highly prestigious, evidence base program, that has been proven to work at the 40 schools where it was trialled, will now be funded by the Federal Government to roll-out in every single high-school.' The research published in the global Lancet Public Health Journal on Tuesday, performed a randomised controlled trial of 5,157 students across 40 schools in Western Australia, New South Wales and Queensland. It found 80 per cent of students who engaged in the program believed the content would help them handle vaping situations in the future. University of Sydney's Dr Lauren Gardner said OurFutures was modelled off evidence-backed research by the Matilda Centre in Mental Health and Substance Use, with input from teachers and students. 'It's a four lessen education and skills building program. It's really a full toolkit for schools that they can use, ready, plug and play, minimal preparation required from teachers,' Dr Gardner said. 'The OurFutures vaping program is currently the only program in Australia that is proven to reduce student likelihood of vaping. So this (research) is the gold standard type of evaluation evidence that we can get.' Health Minister Mark Butler implored all jurisdictions, including WA, to step up their enforcement action and strengthen laws to combat the supply of vapes. Earlier this month WA's chief health officer told state budget estimates no illegal vape suppliers had been fined because current legislation doesn't allow for it. 'Under the Act, there are no infringement powers to issue fines for vapes. They have to be taken to prosecution (and) a number of prosecutions are in train at this stage,' Dr Andrew Robertson conceded. Minister Butler said he had a 'good discussion' with his state counterparts about the lack of enforcement, but ultimately it was their responsibility to address. He urged WA authorities to take note of other success stories - like South Australia which has conferred powers to a relevant minister to order the closure of shops which illegally sell vapes. In New South Wales, Premier Chris Minns has also introduced tougher laws to fine and shut down illegal suppliers.
The Australian
21 hours ago
- Business
- The Australian
Donald Trump flags baseline tariff hike
Donald Trump has flagged the US could double the baseline tariff on foreign imports to 20 per cent. Australia is captured by the baseline tariff regime, with a blanket 10 per cent impost slapped on most products flowing to the US despite a bilateral free-trade agreement. The baseline tariff is imposed on top of sectoral duties – taxes targeting specific industries, such as steel and aluminium. The US President floated his new tariff for 'the rest of the world' while speaking to reporters with Keir Starmer in Scotland overnight. 'I would say it'll be somewhere in the 15 to 20 per cent range,' Mr Trump said when pressed for a figure. 'Probably one of those two numbers. 'We're going to be setting a tariff for, essentially, the rest of the world. 'That's what they're going to pay if they want to do business in the United States, because you can't sit down and make 200 deals.' To get all the latest news from US President Donald Trump and what it means for Australia as soon as it drops — download the app. US President Donald Trump says he could double the baseline tariff on foreign goods. Picture: Christopher Furlong / Pool / AFP The Albanese government has responded, with a spokesperson for Trade Minister Don Farrell saying Australia would continue push for an Australian carve out. 'Any tariffs on Australian goods are unjustified and an act of economic self-harm,' the spokesperson said. 'We will continue to engage at all levels to advocate for the removal of all tariffs, in line with our free trade agreement with the United States.' Assistant Treasurer Dan Mulino expanded a little, downplaying Mr Trump's comments as 'off-the-cuff'. 'We are a country that relies on trade,' he told Sky News. 'We are a country with a very high proportion of jobs that rely on trade. 'That remains the position of this government. 'So, we would rather a situation in which the world doesn't go down the path of imposing tariffs. 'But what I can say is that Australia remains in a situation where we've got as good a deal as anybody, and we continue to engage with the US Government intensely on these matters.' Prime Minister Anthony Albanese is again being urged to tee-up a meeting with US President Donald Trump. Picture: Martin Ollman / NewsWire Meanwhile, opposition trade spokesman Kevin Hogan slammed Mr Trump's idea as 'really bad for global growth', warning it could 'encourage retaliation from other countries, and we certainly don't want to see a global trade war between, say, China and the US'. 'We're a huge exporting nation. Tariffs are bad policy,' he said. 'We, as the opposition, disagree with Trump's tariff policy, but again, it reinforces the urgency and the great disappointment that our prime minister hasn't had a face-to-face meeting with Trump. 'He needs to go over there and prosecute the case, to argue Australia's case, but also to stand up for free trade across the globe, because the importance of it for us as a trading nation, as Australia.' Australia's biggest export to the US is beef, which was worth $5.7bn in 2024, according to Meat and Livestock Australia. Read related topics: Donald Trump
News.com.au
a day ago
- Business
- News.com.au
Opposition to back Labor's student debt bill, Sussan Ley says
Sussan Ley has confirmed the opposition will back the Albanese government's signature student debt-slashing bill. It comes after Education Minister Jason Clare told Labor colleagues he was hopeful the HECS reforms would pass parliament on Tuesday. Fronting media, the Opposition Leader said she still had concerns over the Albanese government's broader response to the cost-of-living crisis, but that 'we will not oppose the government's proposal'. 'And I want to say this to students today – remember this moment,' Ms Ley told reporters. 'Because Anthony Albanese says life will be easier under him, costs will come down, everything will get cheaper. 'Remember this moment because, when I have spoken to young people across the country, they have talked about escalating costs, in rent, electricity, any groceries, in everything a student needs to spend money on. 'It has been really tough.' She said added that 'underpinning this student debt relief bill has been a massive cost of living crisis for Australia's students' and vowed to hold the government to account. 'But today, we agreed to not oppose the bill as it makes its way through the parliament,' Ms Ley said. 'We do care about students who are struggling with the cost of living and said we would be positive where we can be and critical where we need to be.' Labor's bill was central to its youth-focused re-election pitch. It would cut student debts by 20 per cent for some 3 million graduates, or wipe off about $5500 from the average debt. The changes would also raise the repayment threshold for student loans from $54,000 to $67,000.
ABC News
a day ago
- Business
- ABC News
Gas shortage crisis develops as Santos takeover heats up
They've only just resumed their seats, but the lobbying is already underway in earnest. And while the steely gaze for most is trained on next month's economic forum, a solid regiment of the 700-odd registered lobbyists in Canberra is actively toiling away on a far more tangible prize. As of this week, and for at least the next fortnight, oil and gas giant Santos has the right to hawk itself about in the market as a buying opportunity to anyone who might be interested. A little over six weeks ago, the Adelaide-based fossil fuel giant announced that it had received a $36.4 billion takeover proposal from a consortium led by two Abu Dhabi state-owned enterprises – the biggest ever cash only takeover in Australian history. There's a great deal riding on the contentious proposal, politically for the Albanese government, personally for Treasurer Jim Chalmers and economically for the nation. After trawling through Santos's accounts for the past month-and-a-half, the Gulf States group has a fortnight to finalise and formalise an offer for the local outfit that can be put to the Foreign Investment Review Board. And Santos, cleverly, has organised for the final fortnight to be able to entertain rival bids. A chronic underperformer for decades, Santos has angered not just investors, but politicians and a large section of the business community for its primary role in denuding eastern Australia of gas supplies. A decade ago, it rolled the dice on an ambitious plan to double the size of its gas export facility on Curtis Island off the Queensland coast near Gladstone, and wrote lucrative long-term contracts with Asian buyers. But the gas it thought was available, simply wasn't there. When it couldn't find enough to fulfil its obligations, it exported gas that ordinarily would have been diverted to the domestic market. Ever since the Australian east coast gas market was opened up for exports, a little over a decade ago, community anger has boiled over into unfettered outrage. Gas prices — which are key determinants of electricity prices — have routinely trebled and occasionally quadrupled and more ever since the export trade began. An alliance of energy intensive industries, unions, households and, ultimately, politicians have tried to bring the three offending consortia to heel without success. So dire is the situation, the Australian Competition and Consumer Commission has had a permanent ongoing review into the industry since 2017. It's scheduled to remain in place until 2030. Three different prime ministers — Turnbull, Morrison and Albanese — have been forced to threaten the consortia with everything from price controls to supply guarantees. Each bristled at the market power wielded by the exporters — estimated by the ACCC at 90 per cent market control — and the impact that has had on consumers. The ACCC, in its latest report published last month, is now forecasting a potential shortage of domestic gas towards the end of this year, a significant deterioration to that expected at the end of last year. "We forecast a shortfall of 2 petajoules in the east coast market for quarter 4 of 2025 if LNG producers export all their uncontracted gas," it said. Longer term, the situation appears grim. The broken red line is the total demand for gas, including for long term export contracts while the broken blue line is domestic use only. Within the next 18 months, the east coast will face chronic shortages and soaring prices possibly for at least a decade as Australian gas is shipped offshore. It is into this heady and volatile situation that the Abu Dhabi government has landed. Investors don't believe the deal will get across the line. At least not in its current form. As of yesterday, Santos shares were trading at $7.78 a share, way below the $8.89 being offered. There is ample room for scepticism. Already a red-hot political issue given the impact soaring gas prices had on power bills and the cost of living, the idea of handing over control of vital and problematic energy infrastructure to a foreign government would have alarm bells ringing in the halls of power. The demise of Australian manufacturing since the turn of the century, and the impact that has had on employment and productivity, has been accelerated by the soaring cost of energy. Unless that is fixed, it is difficult to see how the government's signature Future Made in Australia policy could ever possibly be achieved. And then there is the energy transition. Gas, always considered the transition fuel, will need to fill the breach for longer than originally anticipated. Years of ongoing gas shortages simply cannot be countenanced. For the moment, the structure of Santos's proposed new ownership is opaque. The Abu Dhabi National Oil Company and the Abu Dhabi Development Holding Company have teamed up with an American private equity firm called Carlyle. Exactly what role Carlyle will play is uncertain. Like most private equity groups, the firm has a deserved reputation as a ruthless operator that extracts maximum profits before churning assets back to the market. It is possible it is in place to help with raising global finance for the deal. Or, as an American firm, it might be there to open doors in Washington given the promising gas fields Santos holds in Alaska. Local observers, however, were stunned that the Gulf States investors didn't team up with an Australian operator to help negotiate their way across the regulatory hurdles. Peter Costello pulled the pin on a multi-billion transaction. So did Wayne Swan. Costello in 2001 rejected Royal Dutch Shell's proposal to take a controlling stake in Woodside while Swan in 2011 put a stop to the Singapore Stock Exchange's bid to take over the Australian Securities Exchange. Both Treasurers considered the transactions to be not in the national interest. In the Woodside case, the Foreign Investment Review Board (FIRB) gave a split ruling; an outright rejection or to allow the deal to proceed but with strict undertakings. Treasurers don't have to abide by FIRB rulings. It's considered advice. But they tend to accept that advice except in extraordinary circumstances. Singapore's takeover of the ASX was blocked primarily because it was considered a mistake to hand control of vital economic infrastructure to a foreign government, even if a close neighbour. With Abu Dhabi, the situation is even more complex. Not only is the National Oil Company a state-owned enterprise, the country is also a member of OPEC, the oil cartel that dominates oil supply and pricing. Just last week, Qatar threatened to block gas supplies to Europe because it objected to EU laws on forced labour and environmental damage. While there is no suggestion Abu Dhabi would follow suit, it demonstrates that foreign governments will not always act on purely commercial terms. For a man with longer term ambitions on leading the country, a wrong decision on something as crucial as energy security at this point is something Jim Chalmers would be careful to avoid. The Treasurer has options when it comes to gas and the Santos takeover to ensure adequate long term supply to Australian business and consumers. Rubber stamping this deal is unlikely to be one of them.
