Latest news with #Broadbent
Epoch Times
15-05-2025
- Politics
- Epoch Times
Ex-Liberal MP Takes 10 Percent in First Go, Stands Firm Against Mandates and Net Zero
Former Liberal MP-turned-independent, Russell Broadbent, says he does not regret breaking away from the Liberal Party, despite not retaining his seat of Monash, which covers eastern Victoria. New Liberal Party candidate Mary Aldred looks set to have secured the Lower House seat by the weekend, picking up 28,138 votes to the next-nearest Labor Party candidate Tully Fletcher, who had 17,809 votes. Broadbent managed to secure 10.1 percent of the vote in his first outing as an independent. The former draper and former small business owner held the seat for 25 years before he left the Liberals in November 2023. At the time, he said the federal government's COVID-19 vaccination mandates during the pandemic years made him break away and run a solo campaign. Related Stories 4/30/2025 5/1/2025 Speaking to The Epoch Times at his post-election gathering of supporters in Drouin, Broadbent said he held no reservations about his decision. 'The whole response to COVID over the past four years, as other people have responded in a different way, in regards to my position on COVID,' he said, when asked what policies resonated with voters. 'And I wouldn't take back a word. I actually challenged the narrative. ... They [Liberal Party] had probably had enough of me. They didn't like the position that I took on COVID.' Former Liberal Party senator, Gerard Rennick, also broke ranks from the centre-right party and ran separately, in response to the party's support of COVID-19 lockdowns. Liberal Party Should Have Fought Against Net Zero Broadbent warned the net zero energy policy, which has been adopted by both the victorious Albanese Labor government and the Liberal Party, would 'break the country.' Former Prime Minister Scott Morrison with then-Energy Minister Angus Taylor committed to reaching net zero by 2050. The Albanese government has bankrolled a swathe of net zero projects during its first term, and will continue this initiative. Broadbent has been a vocal critic of bipartisan support for this policy, believing that the gradual shutting down of coal-production sites will cause irreparable economic harm. 'The government hasn't prepared our economy. Labor has made decisions in subsequent budgets now which make it harder for the economy to function with international headwinds,' he said. He said the Liberal Party missed an opportunity to create a point of difference in opposing Labor on this policy. 'They [Liberal Party] didn't differentiate themselves by saying they did not support net zero,' Broadbent said. Many residents who have spoken to Broadbent say they struggle with higher energy bills, which he blames the energy transition for creating. Net zero has seen state and federal governments pressure major energy producers to close down coal-fired power stations and to instead, invest in renewable energy projects as a source of 'cleaner' energy. However, this transition does come at a cost to home owners, not only is it limiting energy supply (which drives up prices), there is a significant upfront investment in getting renewable projects off the ground, which has led to governments offering taxpayer-backed subsidies to make this happen. 'There are a number of people, not just here but around the place. They just talk electricity prices, electricity prices, electricity prices,' Broadbent said. 'And the more renewables there are, the more the prices will keep going up.'
ABC News
05-05-2025
- Automotive
- ABC News
What should buyers of second-hand EVs consider as more vehicles hit the used-car market?
Millions of cars are bought and sold in Australia each year. At the moment, most of them are second-hand, petrol-fuelled vehicles. But that pattern is changing. Electric vehicles (EVs) and hybrid cars are growing in popularity, driven in part by government and organisation pledges to electrify their fleets. Vehicle efficiency standards, which are set to come into effect in July, should also see more EVs on the roads. So as EVs start to filter through to the used-car market in greater numbers, what should prospective buyers consider before they make a purchase? Battery quality important, but usually underestimated Gail Broadbent, an electric vehicle researcher at the University of New South Wales, says battery quality is the biggest concern used-EV buyers have. But she also says used EVs typically have much better battery capacity than consumers expect. "There's a big discrepancy with what people think and what the actuality is," Dr Broadbent says. Manufacturing warranties typically guarantee that an EV battery will retain at least 70 per cent of its original charge over eight to 10 years. Most cars outperform this warranty. This is partially due to the way that battery performance is tested. Lab-based tests completely discharge and recharge batteries on a frequent cycle to see how they retain their charge. "Whereas in real life ... car manufacturers recommend that people keep the battery somewhere between 20 per cent and 80 per cent," Dr Broadbent says. This keeps the battery in much better shape. Photo shows A close-up of an orange electricity cable plugged into a car. Vehicle-to-grid charging promises to save households money and get more value out of EV batteries. Here's how to take advantage of "V2G". Other aspects of Given enough time, batteries will inevitably degrade. This doesn't happen uniformly — battery performance can often drop quickly in a new car. This sometimes gives new owners the impression their battery will lose capacity much faster, but the batteries tend to stabilise after a few years and lose capacity at a slower rate. New batteries and fast chargers, such as BYD's five-minute charger, should also see a wider variety of EV technology in Australia. ( Unsplash: Michael Marais ) Kai Li Lim, an EV researcher at the University of Queensland, says a range of factors can accelerate battery degradation, leading to some older EVs with notably reduced ranges. Anything that heats the battery can wear them down faster, including warmer climates, excessive fast charging, and frequently powering the battery up to full. "But the reality about battery degradation is that with the average age of EVs in the market, it's not really something that we can clearly observe," Dr Lim says. More years of EV use — and more research — will generate clearer answers. Checking an EV battery If you're considering buying a used EV, Dr Broadbent says it's still important to check the battery health, because "not everybody is kind to their car". Electric vehicles usually show estimates for the distance you can expect from a full battery charge. But this readout isn't necessarily accurate. Like manufacturers' warranties, it often underestimates and sometimes overestimates the battery capacity. "That range that's written on the car is an average of the last five trips, and if [the driver] used the air conditioner or the heater, it's going to reduce the range," Dr Broadbent points out. Photo shows People stand around a car with all its doors open with a sign in beg letters on the wall behind reading BYD. Chinese electric vehicle manufacturer BYD has unveiled its ultra-fast charger that promises to take just five minutes to fully power EVs — putting heat on rival Tesla in the process. Instead, she says more accurate readouts of battery health can be obtained from an onboard diagnostics scanner. At the moment, there is no standardised way to check EV battery health in Australia. Businesses such as insurers and used car dealers offer checks to people planning to buy or sell used EVs. The cost of these checks can vary widely. The European Union Rusty Langdon, a sustainability researcher at University of Technology Sydney (UTS), would like to see similar legislation in Australia. "We're sort of at the whim of the market without Australian regulation that echoes that," they say. Scott Dwyer, also a sustainability researcher at UTS, adds that there needs to be a suitable workforce to accommodate this. "Training to traditional vehicle mechanics and funding for those small businesses to help them invest in their special diagnostic tools." Broadening used-EV uptake While standardisation could help with sales and consumer confidence, other policies will be needed to improve the supply of EVs in Australia. Dr Dwyer says electrifying commercial fleets is a crucial way to increase EV uptake. "About half of new car sales in Australia are sold into fleets," he says, adding that roughly a fifth of those sales are currently EVs. " They are an important source of well-maintained and affordable EVs. " Dr Dwyer's research has also found people are more comfortable with the idea of buying or owning a personal EV after using one for work. At the moment, the largest proportion of EV buyers are people Dr Lim wants to see more incentives for fleet EVs to increase uptake to other parts of Australia. "You need a nice and robust second-hand car market of used EVs in order to make EVs more accessible to the general population," he says. "The best way to make them cheaper is to put them through the second-hand car market, and the best way to put them through the second-hand car market is to have fleet uptakes." He also wants to see better standards for checking battery quality for use after they're no longer suitable for an EV. Photo shows A pile of burnt blue batteries on asphalt Australia's annual lithium-ion battery waste is tipped to hit 137,000 tonnes by 2035 amid urgent calls for dedicated recycling facilities. EV batteries can be used for other purposes, such as home batteries, when they're no longer powerful enough to take cars long distances. "In due time, especially when lithium-ion batteries start to deplete, there will be a demand for this [EV battery repurposing]," Dr Lim says. Mx Langdon agrees. "We don't have a really good understanding of battery lifetimes at the moment," they say. "It would be good to have a better understanding of typical lifetime so that we can understand what the pathways are for second-hand vehicles and what consumers can expect." Science in your inbox Get all the latest science stories from across the ABC. Your information is being handled in accordance with the Email address Subscribe
Daily Maverick
29-04-2025
- Business
- Daily Maverick
'Vintage gold, tariff cold: SA wine's perfect harvest meets Trump's cold shoulder
After a near-perfect 2025 harvest, South African vintners are facing an unexpected threat: a tariff tempest brewing in the US, one of the country's top five export markets. South Africa's 2025 harvest season was, by all accounts, a masterpiece. 'It's going to be one of those standout years where people will specifically search for wines from the 2025 harvest,' said Maryna Calow, communications manager at Wines of South Africa (WoSA). British wine importer and critic, Bartholomew Broadbent, agreed. 'The 2025 vintage in South Africa was outstanding,' he told Daily Maverick. 'I was recently there and tasted many wines in cask. Volumes were good, the quality exceptional.' The grapes, nurtured through a Goldilocks season of moderate weather and minimal climatic drama, ripened to near perfection. No aggressive heat spikes. No hail storms. Even the winter dormancy was ideal, with well-timed rains and cold enough temperatures to ready the vines for an exceptional yield. As South African wine producers prepared to bottle what some are calling some of the best quality wine ever produced, another kind of storm began to brew. One that's political, protectionist, and unmistakably American. A Trump-sized headache On 2 April 2025, US president Trump reached for an economic cudgel in the form of tariffs, and South African wine found itself squarely in the firing line: slapped with a 30% import duty. According to Calow, the United States is South Africa's fourth largest wine export market by value, exporting $8.21-billion (R153-billion) worth of wine to the US in 2024. Visualisation by Kara le Roux Thanks to the African Growth and Opportunity Act (Agoa), South African wines previously enjoyed zero tariffs, a saving of about R20-million per year, noted Christo Conradie, stakeholder engagement, market access, and policy manager at South African Wine. Now, a 10% tariff applies during a 90-day grace period, while the 30% proposal hangs over the industry like the sword of Damocles. 'There is a mad scramble in the USA right now to import wine at the 10% tariff level before the 90-day extension ends,' Broadbent explained. 'We usually ship the new vintage of wine… in July or August. This year we will ship it all in May and hope to beat the increased tariffs.' Even if shipments sneak through customs at a lower rate, the damage has already been done. 'Importers may have cancelled orders from South Africa and turned to bulk producers in Chile and Australia,' Broadbent says. 'Once prices go up, even if tariffs are cancelled, most wine companies will not reduce prices back to pre-tariff levels.' 'Before the wine even hit the water, some US importers pulled out.' Calow confirmed the exodus. Building relationships with importers took years, she added, and with global wine consumption declining, competition was already brutal. US laws also require wholesalers to pre-post prices months in advance. Once the higher prices are locked in, they can't be reduced overnight even if the tariffs are scrapped. Jobs, markets and margins under threat The tariff threat is hitting an industry already bruised by Covid-era shutdowns and a lethargic global economy. Broadbent pointed out that American consumer spending was under pressure from a stock market crash rivalling the Great Depression of 1932. Luxury goods (like wine) were often the first thing to be cut from stretched budgets. 'If your wine goes from $9.99 to $12.99 (R185 to R241) because of tariffs and mark-ups at every level of the US's three-tier system, sales will nosedive,' Broadbent said. South Africa's wine sector supports more than 270,000 jobs, many in vulnerable rural areas. Conradie warned that the effects would extend beyond exporters and their immediate teams: '(The implications) will undoubtedly be felt across the broader economy, including job preservation and creation, particularly the socioeconomic impact on rural areas where viticulture is a significant economic driver.' He said suppliers of glass, labels, packaging, and logistics providers would all be affected in the long term. Bulk wine exports — two-thirds of South Africa's shipments to the US — are especially vulnerable. Higher-end bottles might survive a modest price hike, but budget wines cannot absorb a 30% tariff without becoming unsellable. 'You don't know where you stand from one day to the next,' Calow said. 'We are still in limbo.' Sin taxes and sour sales South African wine producers aren't finding much comfort on the home front. Finance Minister Enoch Godogwana hiked the excise duty on wine across the board: unfortified wine now attracts R5.95 per litre in duty, up from R5.57, with fortified and sparkling wines facing even steeper increases. Domestically, the wine industry has still not bounced back to pre-pandemic volumes, according to an agricultural outlook report by the Bureau for Food and Agricultural Policy. Though sales have ticked upward since the lockdown years, premium bottles have lost considerable ground to bag-in-box formats, the report states. The bag-in-box boom signals a shift in local buying habits as economic pressure forces consumers to prioritise value over presentation. The report projects a 0.5% decrease in wine consumption by 2031, which is 12 million litres lower than in 2018. 'The growth is rather modest,' the report reads, 'and comes from a substantially reduced base following the shocks of 2020 and 2021.' Swapping Uncle Sam for Chairman Xi? Some exporters are peering north to Canada, where retaliatory trade measures have moved American wines off shelves. 'Canada certainly looks a lot more interesting,' Calow said, pointing out that up to 50% of Canadian wine sales were once filled by US products. Asia, too, beckons. 'China is a big question mark,' Calow admitted, but a lucrative one: US wine exports to China could shrink dramatically amid the trade tensions, opening doors for South African producers. However, market shifts don't happen overnight. As Conradie cautioned, wine is not a plug-and-play commodity as each market demands careful cultivation over years. According to a study, commissioned by the SA Wine Industry Information & Systems published in January 2022, the silver lining for the South African wine industry was a positive value growth of total wine exports to a respectable US$540-million (R10-billion), despite a challenging global economy. Visualisation by Kara le Roux Exporters must also brace for greater currency risk, especially if they broaden their focus beyond the traditional dollar-dominated corridors. 'Expanding into Africa, the Middle East and Asia is critical,' Cornelius Coetzee, Country Director at Verto South Africa, advised. 'But it requires active currency risk management. You can't invoice naively in US dollars or euros and hope for the best.' Coetzee stressed that wineries should consider multi-currency invoicing strategies and hedge foreign exchange exposure smartly. 'Flexibility and forward planning are non-negotiable,' he said. Diplomacy but no direct relief Daniel Johnson, the spokesperson for Dr Ivan Meyer, Western Cape Minister of Agriculture, Economic Development and Tourism, said the provincial government was monitoring the situation closely, engaging exporters, and exploring new markets. However, no direct financial relief was planned for affected exporters. 'We continue engaging with diplomats to gain new markets, retain existing ones, and optimise our current operations,' Johnson said, noting a growing focus on African export markets as part of a longer term diversification strategy. Keep calm and keep bottling Amid trade war rumblings, Conradie urged caution: 'We must find a balanced and pragmatic approach to any proposed import tariffs on bottled and bulk wine.' He warned against retaliation, saying that lowering South Africa's current 25% import tariffs on American wines could backfire. 'This could lead to an influx of competitively priced bulk wine and pressure on local producers, possibly triggering a damaging 'race to the bottom', which we cannot afford,' Conradie said. Still, there is confidence that South Africa's strengths — quality, timing, and resilience — will endure. 'South Africa's value proposition remains strong,' Coetzee said. 'We have world-class agricultural quality and seasonal counterbalance to northern hemisphere supply.' How does this affect you? If you're a winemaker, exporter, or even a logistics provider, expect a period of turbulence. Margins will be squeezed. Foreign exchange risk will rise. New competitors will crowd non-US markets. Even if you're not exporting directly to America, supply chain shocks and shifting demand will touch every part of the industry. Coetzee advises exporters to: Stay nimble: Match foreign exchange strategies to sales cycles. Diversify: Spread risk across multiple markets and currencies. Use smarter tools: Adopt live alerts, automated foreign exchange hedging, and spot trades. Plan ahead: Model different currency exposure scenarios — don't rely on best guesses. We've weathered worse 'We're guppies in a very big ocean when it comes to the US market,' Calow quipped. 'About 70% of the wines Americans drink are made locally. South African imports are maybe 1.5% of that segment.' During the Covid-19 pandemic, when local wine sales were banned outright, the industry adapted and survived. 'The pandemic was much more severe than the threat of tariffs,' Broadbent said. 'Wineries survived. If they can survive that, they can survive the tariff situations.' In 2024, South Africa's wine export volumes held steady at 306 million litres, with slight value growth. That's no small feat given the global glut in wine production. 'We're resilient,' Calow said. 'We just have to keep doing what we do best and make good wine.' DM Letters will be edited.
Yahoo
23-04-2025
- Business
- Yahoo
Cash withdrawal nightmare exposed as Aussies try to win big: 'Blew my mind'
Australians are being warned banks will likely have to step up their efforts to protect people from scams when customers are withdrawing big sums of cash. There have been two recent cases where Aussies were stopped from taking out their own money to invest it in cryptocurrency. Westpac and Commonwealth Bank (CBA) told the two separate customers that their requests were raising red flags, and the banks had an obligation to protect their money. Swinburne University's Professor Steve Worthington told Yahoo Finance this isn't something that will go away anytime soon. "Banks are increasingly bragging about how they're gearing up to avoid scams, but as they get better and better at it, it will mean more and more guidance or governance to us as individuals about how we use our money and how much money we can take out," he said. Westpac boss apologises to furious customer over $50,000 cash withdrawal debacle: 'My money' Traffic controller responds to $200,000 pay 'rumour' as she reveals salary after 2 days of training Accountant's ATO warning as $5,000 expenses you can claim on tax without receipts revealed Tim had been banking with Westpac for decades, and he wanted to invest $50,000 into Bitcoin as he felt the cryptocurrency was set for a boom. However, when he asked for his money, he was rejected. One of the bank's fraud specialists feared the customer was getting duped into an investment scam that sounded too good to be true. Bitcoin's value surged just after this interaction, and Tim claimed he missed out on a $6,500 win. Westpac's CEO apologised for the incident and said it would look into how the bank can address situations like this in the future to keep everyone CBA customer Andrew Broadbent wanted to chuck $30,000 into bitcoin in August last year. The Melbourne accountant's transfer request was rejected as the bank thought it was a scam, and CBA asked him to prove it wasn't. Broadbent had to sell the $21,000 he had already invested through brokerage service Stormrake. Some investment scams see victims put money into a brokerage account that they have little to no access or control over. Once enough cash is invested, the scammers usually run off and leave the victim hanging. CBA reportedly wanted Broadbent to show he had all the autonomy over his money before they would let him invest $30,000 more. He had to sell the Bitcoin at a loss of $3,000, and he was furious he didn't have more say over what he did with his own money. 'I have over 35 years' experience as a financial and compliance professional, and the whole experience blew my mind," he told The Australian Financial Review. Finance expert Ben Nash told Yahoo Finance that over the last few months, Aussies have been trying to invest their hard-earned cash in cryptocurrency and the stock market because of how volatile it's been. That volatility can sometimes produce big paydays. But he said this is also a ripe moment for scammers who make big promises to easily-duped people. "The rejection of payments to and from cryptocurrency platforms is increasing and causing issues for more and more Aussies," he said. "This can create some serious financial problems and downside risks, particularly where people are moving money around to invest, which has been amplified over the last few months given the wild swings and roundabouts in investment markets in Australia and around the world. "The financial institutions are looking to protect their customers, which is great, but the application of these protections is leaving a lot to be desired." Worthington added that banks are "damned if they do and damned if they don't" when it comes to protecting peoples' money. If they ask you questions about what you're doing with the cash, they're being invasive and controlling. But if they don't ask questions, and you get scammed, they'll be criticised for not doing enough. "It's a double-edged sword, isn't it?" he told Yahoo Finance. "We want to be able to access our cash when we want, but at the same time, the banks are very nervous about large withdrawals for what appears to be quite a relatively high-risk investment." The Australian Banking Association (ABA) represents some of the most well-known banks in the country. CEO, Anna Bligh, said while questions about what you're doing with your money might be annoying, it's not designed to restrict your financial freedoms. When it comes to cryptocurrency, banks will have a laser-focused approach. Cryptocurrencies are one of the most popular sources of investment scams, with Australians losing at least $180 million last year. "International criminal gangs often utilise crypto exchanges as the getaway vehicle to steal funds," Bligh told Yahoo Finance. "Once funds are transferred into a crypto exchange, they are virtually untraceable, and the chances of recovery are very low. "With up to 50 per cent of scam funds estimated to be sent to crypto platforms, banks will protect their customers by blocking or limiting suspect transfers to high-risk crypto exchanges." Worthington told Yahoo Finance there's no "quick answer" in how to address this burgeoning issue. He said scammers will keep finding ways to take Aussies' money, and banks will be compelled to do everything in their power to stop it. Unfortunately, that means if you want to take out even just a few thousand dollars, you'll be asked why and might even be forced to show proof. But banks may face a PR nightmare ahead, as a poll of more than 3,000 Yahoo Finance readers found 76 per cent felt banks have no right to ask you about your money. This proves that even though they're trying to do the right thing, they're losing in the court of public opinion. Worthington's only suggestion is to make sure you're well-researched when you ask the bank to withdraw your own cash, otherwise you could end up like Tim or Andrew. Even then, it's not a sure-bet that you'll get your cash when you in to access your portfolio
RNZ News
21-04-2025
- Business
- RNZ News
'Leave the library alone': Napier community fighting against Council proposal to close it
Photo: Napier residents are dismayed by the council's proposal to close the city's library for two years in a bid to keep a lid on rates rises, calling for them to 'leave it alone'. Consultation on the proposal closes in two weeks, as part of Napier's draft Annual Plan 2025/26. Local author Adele Broadbent, who worked at Napier Library for several years, told RNZ she hopes the Napier City Council gets the message loud and clear from the community. "Just please leave it open. Leave the library alone. To lose that, for me, is like cutting your arm off. "There are other places that can be closed for two years - the library is just too important. I'm really not sure why they are doing this," she said. In 2017 the Napier Library on Station Street was closed because of the building's earthquake safety rating. It was moved into part of the MTG Hawke's Bay building as a temporary solution, and a new library is expected to open mid-2027. Napier City Council is proposing to close the library from 1 July 2025, and keep Taradale's Library open seven days a week - which is about a 20 minute drive away. "Taradale is way too far for some people. I know people who don't have access to a car, and lots of elderly who don't own cars and can't get out there - even bus services and things are not very good," said Broadbent. She said losing the library is not just about access to books, which is incredibly important for all ages, but it's a loss of valuable and essential community services such as computer access, school programmes, and community activities. "It's a not very well thought-out decision, it's too important. And literacy as it is, is battered and bruised, we really need access to those books and we really need the library to be kept open," she said. Napier's annual average rates bill for 24/25 is $3513 and closing the library for two years would save the council $21.60 per rateable unit, or $1.80 a month per household. Gareth Wardini, who owns Napier's independent bookstore 'Wardini's' with his wife Louise is keen to see the library stay open. He said people often assume the library is competition for his bookstore, but it's far from it. "We're all part of the book lovers eco-system. A city the size of Napier should have a library - I know the council has lots of pressing financial issues, but the library does a lot for the community and it's not just about lending books. "I personally believe libraries are an essential service," said Wardini. Gareth and Louise Wardini. Photo: Supplied / Florence Charvin He fears closing the library will be bad news for those who can't purchase books for their children. "It'll be the parts of our community who perhaps can't afford books, that will suffer. It's about creating a safe space and a community hub, and for people who can't afford to buy books it's essential. "We have terrible literacy rates in New Zealand and the library is a place where anyone can read and get book. Where are they going to take their tamariki to get books to read for them?," he worried. Napier mayor Kirsten Wise said the proposal to close the library for two years has been a tough point to reach. "It's a difficult decision for everybody. We're conscious of the impact this has and it won't be a decision that we make lightly. Napier Mayor Kirsten Wise. Photo: Supplied / Napier City Council screenshot "We were always going to be closing it early for the preparation of transferring to the new building.. about 8 months early, so now we're proposing to close it earlier than that," she said. It's a move driven by the urgent need to save council costs, but the mayor admits that the savings per household for closing the library would be minor. "It's not a huge saving, it's to the tune of about 0.5 to 0.6 percent of rates - but it's a reflection that we really have worked hard to find every single dollar of savings we can find." Wise said the council is expecting a large number of public submissions against the closure. "We know our community is passionate about keeping the library open. "We're going to bolster mobile library services and get the van to people who can't get to Taradale," she said. Napier City Council is also considering a number of other cuts to facilities for financial savings, such as closing the National Aquarium so it can be demolished and replaced with a building that's cheaper to run. It's also looking at a third party operating the Napier ISite in a new location, leasing the Par2 MiniGolf business, handing the running of the Faraday Museum over to a charitable trust, and increasing fees at the Redclyffe Transfer Station. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
