Latest news with #MatthewRyan
SBS Australia
25-07-2025
- Politics
- SBS Australia
The Northern Territory's major Aboriginal Land Councils have accused the NT Government of systemic racism
Meeting for the first time since 2020, the NT's four major land councils have say they've been consistently ignored by the NT Country Liberal Government over a raft of policy changes and funding cuts. Chair of the Northern Land Council Matthew Ryan said the behaviour by the NT Government is "appalling". "We've been ignored of our rights and human rights," Mr Ryan told NITV. "Appalling behaviour for all ministers who should be speaking to us," the Barabarra, Wurrpann, and Gurindiji man said. The group expressed particular concern over the rapidly rising rates of Indigenous incarceration in the Northern Territory. Accusations of systemic racism The number of people imprisoned across the NT has gone up by more than 600 since the CLP government took power last August. More than 80 per cent of those prisoners are Indigenous. Addressing media on Thursday, Central Land Council Deputy Chair, Barbra Shaw, expressed frustration. "It's so disgusting that this government is not listening to our elders," the Kaytetye, Arrernte, Warramunga and Warlpiri woman told NITV. "This government ... needs to start working and listening to Aboriginal people. "We're the only people who are going to have the best solutions for Aboriginal issues." The rising rates of Indigenous incarceration follow a raft of reforms brought in by the CLP in recent months including tough new bail laws, decreasing the age of criminal responsibility back to 10, and expanding police powers and funding. The Northern Land Council Chair argued those actions by NT Government are perpetuating systemic racism. "Let me be very clear, there is [racism]," Mr Ryan said. "There is systemic racism in all organisations whether it's health, housing, or education there is that element there." Critical funding quietly slashed This week the Aboriginal Medical Services Alliance Northern Territory (AMSANT) and Red Lily Health Board condemned the NT Government for slashing $20 million promised for a new health facility in Gunbalanya — a west Arnhem Land community 300 kilometres east of Darwin. Despite assurances that funding was secured in the 2024–25 Budget, the building tender was quietly deferred in the 2025–26 Budget, leaving community leaders and health sector partners seeking answers on where the money has gone. 'The Gunbalanya clinic is not fit for purpose and has been on the priority replacement list for over 20 years,' said Red Lily CEO Brad Palmer. 'The project was approved, supported, and budgeted for. After two years of promises, the funding has now been redirected without consultation or explanation," he said. Gunbalanya is home to approximately 1,500 people — the vast majority of whom are Aboriginal — and is cut off from road access each wet season. "The community deserves to know why it's no longer being delivered and why their health infrastructure has been sidelined," Mr Palmer said. Mr Yan, who was Shadow Minister for Parks and Rangers at the time, said in August 2024 that 'if elected, [the CLP] will fully fund the program with $12 million over four years.' Meanwhile, at an NT budget estimates hearing last month, it was revealed $300,000 of funding earmarked for a review into police racism had been redirected to legal aid. The total budget for Corrections in the Northern Territory is now a record $495 million. Calls for Federal Government to step in The federal government set up the NT land councils in 1976, with statutory powers and functions to support Aboriginal decision-making. NLC Chair Matthew Ryan has called for greater support from the Federal Government to hold the NT Government to account. "We want to call for the federal government and the commonwealth to work with us to deal with the useless policy that is affecting all Aboriginal people," Mr Ryan said. The NT Chief Minister Lia Finocchiaro and Minister for Corrections Gerard Maley did not respond to a request for comment. In a statement, Minister for Aboriginal Affairs, Steve Edgington,said the NT Government is "committed to continuing engagement and consultation with community members and wider stakeholders in regional and remote areas across the Territory". "We are working together with Aboriginal Peak Organisations (APO NT), which include the four lands councils, on Closing the Gap initiatives."
Yahoo
24-07-2025
- Politics
- Yahoo
Councils accuse territory government of overt racism
A territory government has been accused of overt racism and promoting policies that harm Indigenous people. Aboriginal land councils have taken aim at the Northern Territory government, saying it has failed to work with them to reduce crime and boost economic development. But NT Aboriginal Affairs Minister Steve Edgington has refuted the claims, saying the government was working towards empowering Indigenous communities. After a two-day meeting in Darwin, the four NT land councils have urged the Country Liberal Party government to stop ignoring them and come to the table to address key issues. They include growing Indigenous incarceration rates and improved economic opportunities to benefit Aboriginal communities. Northern Land Council chair Matthew Ryan told reporters outside the NT parliament on Thursday there was overt racism in government policies. "Let me be very honest - there is, no buts about it," he said. "Unfortunately, it's still happening. We want to eliminate that, we want a genuine partnership ... at the moment there's none." He said Aboriginal people wanted to be part of the territory's economic development but it was "appalling" government ministers were failing to work with or listen to the land councils to promote that. Since coming to power on an anti-crime platform in 2024, the government has toughened bail laws and provided hundreds of new prison beds as more Aboriginal youths are locked up. It has also lowered the age of criminal responsibility from 12 to 10 years. Mr Ryan said the law and order funding would be better spent on providing programs to keep Aboriginal youths out of jail. He said the land councils were also united in wanting to work with the NT police commissioner to address racism within the force. Central Land Council deputy chair Barbara Shaw said racism against Aboriginal people began when the ships arrived in 1788 "but we're still standing here today". "If the government would only listen to us and work with us in genuine partnership in tackling crime in the Northern Territory, we wouldn't be stacking and racking in our prisons," she said. Ms Shaw said the government should listen to the elders to take children back onto Country to be with family and keep them out of jail. Mr Edgington said the government was working with the four land councils and other Indigenous bodies on Closing the Gap initiatives. "We are also working in partnership with Aboriginal people to empower communities that want a greater say," he said. Mr Edgington said the NT and federal governments were making major investments in remote communities including building new homes and boosting health and other critical services. However, an Aboriginal justice agency has called for federal funding for remote policing and other justice operations to be suspended until the NT government changes its hardline approach to crime. North Australian Aboriginal Justice Agency acting CEO Anthony Beven said the Commonwealth should put conditions on the table to say "we shouldn't be locking young kids up". NT Attorney-General Marie-Clare Boothby said Mr Beven's funding suspension demand was "utterly absurd".
Business Times
16-07-2025
- Business
- Business Times
UK inflation unexpectedly jumps as Labour tax hikes take toll
[LONDON] UK inflation unexpectedly rose to its highest level since January 2024 as climbing food bills prompted more criticism of the Labour government's tax rises. Consumer price inflation (CPI) picked up to 3.6 per cent in June from 3.4 per cent previously, the Office for National Statistics said on Wednesday (Jul 16). It was above the unchanged reading predicted by economists and the Bank of England (BOE). Food prices rose 4.4 per cent, the highest since February 2024. Retailers blamed the recent increases in payroll taxes and the minimum wage – changes that came into effect in April. Matthew Ryan, head of market strategy at global financial services firm Ebury, laid the blame in part 'on labour cost pressures emanating from April's hike to the minimum wage and business tax rates, which are forcing employers to raise prices to cover the increase in cost'. While traders still expect the BOE to press ahead with an interest rate cut on Aug 7, they pared back expectations for future reductions as the release created a new headache for officials. The Labour government is banking on a pickup in the economy to help fund its spending ambitions after parliamentary rebels forced it to shelve a series of spending cuts. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up However, there is mounting evidence that its first round of tax hikes – revealed in last autumn's budget – has taken a toll on the economy, causing firms to rein in hiring and push up prices. Speculation is rising over more tax increases in the coming autumn despite the head of the UK's fiscal watchdog warning of a hit to growth given the near record high tax burden. Chancellor of the Exchequer Rachel Reeves acknowledged that working people are 'still struggling with the cost of living' following Wednesday's figures. Services inflation – a sign of domestic pressures being watched closely by the BOE – held at 4.7 per cent, higher than expected. Ruth Gregory, deputy chief economist at Capital Economics, said higher-than-expected hotel inflation and climbing clothing and footwear costs 'may be a sign' that firms are passing on employment costs. Food prices Grocery bills are also becoming a concern, given their salience for household inflation expectations, with the retail sector among the hardest hit by the budget changes. Prices for beef and veal, butter and chocolate rose sharply year on year. 'Despite fierce competition between retailers, the ongoing impact of the last budget and poor harvests caused by the extreme weather have resulted in prices for consumers rising,' said Kris Hamer, director of insight at the British Retail Consortium. The ONS also said inflation was 'driven mainly by motor fuel prices which fell only slightly, compared with a much larger decrease at this time last year'. The pound rose 0.1 per cent to US$1.34, set to snap a eight day losing run, and bond prices dipped, pushing up the yield on 10-year gilts by 4 basis points (bps) to 4.66 per cent. Traders pared bets on BOE interest rate cuts, and now see 49 basis points of easing by year-end, compared with 53 basis points ahead of the data. The figures are also a headache for BOE governor Andrew Bailey, who has signalled that more rate cuts are ahead after sharp falls in employment since the budget changes. The UK central bank had predicted in May that CPI would remain at 3.4 per cent throughout the summer before accelerating again in September. While overall inflation is well above the central bank's 2 per cent target, the BOE has predicted the pickup will start reversing by the end of the year and is putting more focus on underlying indicators. That is in part because a recent cooling in the economy – including a weakening in the labour market – is likely to slow the pace of consumer price increases. Despite the increased pressures in the short run, the tax increases' dampening effect on the jobs market is likely to weigh on wage and price growth in the medium term – the horizon the BOE targets inflation. 'With inflation still proving sticky and economic growth stagnating, the UK is skirting the edges of stagflation,' said Anna Leach, chief economist at the Institute of Directors. BLOOMBERG
CNBC
16-07-2025
- Business
- CNBC
CNBC Daily Open: Inflation in the U.S. hit a four-month high in June — as expected
Expectations are a funny thing. When we say that something meets expectations, we tend to mean it in a positive way, suggesting that a hurdle has been cleared or the result is welcome. But what happens when we expect something bad, and the outcome meets expectations? The U.S. consumer price index in June, as reported by the Bureau of Labor Statistics on Tuesday, matched the Dow Jones consensus estimate. And there was even a pleasant surprise: Core inflation, which excludes volatile food and energy prices, rose 0.2% on the month, which was 0.1 percentage points below expectations. That said, both the headline and core inflation numbers, on an annual basis, hit their highest since February. "The latest U.S. inflation report practically confirmed that President Trump's tariffs acted to push up consumer prices in June," said Matthew Ryan, head of market strategy at global financial services firm Ebury. Hence, while the inflation figures didn't surprise market watchers and investors — markets really dislike unpredictability — the fact that the downbeat expectations were realized still weighed on stocks, which mostly fell on the news. As yesterday's market movements illustrate — and as many of us, after going through performance reviews with our supervisors, know — sometimes, meeting expectations isn't good enough. A preliminary U.S.-Indonesia deal. U.S. President Donald Trump said Tuesday that under the trade agreement, U.S. exports from Indonesia will face a 19% tariff, while American goods will enter the Southeast Asian country tariff-free. Jakarta has yet to confirm the deal. Nvidia CEO praises China's AI sector. Speaking at a supply chain expo in Beijing on Wednesday, Jensen Huang named DeepSeek and Ernie bot as "world class" models. He also lauded Chinese companies' open-source approach to AI, saying it is a "catalyst for global progress." The Nasdaq Composite hits a record. A 4% jump in Nvidia boosted the tech-heavy index, even as the S&P 500 and Dow retreated Tuesday. Asia-Pacific markets mostly fell Wednesday. Shares of Chinese toymaker Pop Mart slumped over 6% despite issuing a bullish outlook. ASML's second-quarter earnings smash expectations. The Dutch chip equipment maker beat estimates on net sales and net profits by around $200 million euros. However, ASML forecast its revenue for the current quarter will come in below market expectations. [PRO] Fund managers are bullish on European stocks. A Bank of America survey of European fund managers found that 81% of respondents saw upside for the region's equities in the coming 12 months. Central banks are increasingly buying gold from local mines as prices surge Traditionally, central banks acquire gold through the global over-the-counter market — typically centered in London — where gold is transacted via major bullion banks, priced in U.S. dollars, euros, or sterling. However, 19 out of 36 respondents in the World Gold Council's latest central bank survey said they are buying gold directly from domestic artisanal and small-scale gold miners in local currency. Four are thinking of following suit.
CNBC
16-07-2025
- Business
- CNBC
CNBC Daily Open: U.S. inflation meets expectations, but that's not necessarily good
Expectations are a funny thing. When we say that something meets expectations, we tend to mean it in a positive way, suggesting that a hurdle has been cleared or the result is welcome. But what happens when we expect something bad, and the outcome meets expectations? The U.S. consumer price index in June, as reported by the Bureau of Labor Statistics Tuesday, matched the Dow Jones consensus estimate. And there was even a pleasant surprise: Core inflation, which excludes volatile food and energy prices, rose 0.2% on the month, which was 0.1 percentage points below expectations. That said, both the headline and core inflation numbers, on an annual basis, hit their highest since February. "The latest U.S. inflation report practically confirmed that President Trump's tariffs acted to push up consumer prices in June," said Matthew Ryan, head of market strategy at global financial services firm Ebury. Hence, while the inflation figures didn't surprise market watchers and investors — markets really dislike unpredictability — the fact that the downbeat expectations were realized still weighed on stocks, which mostly fell on the news. As yesterday's market movements illustrate — and as many of us, after going through performance reviews with our supervisors, know — sometimes, meeting expectations isn't good enough. A preliminary U.S.-Indonesia deal. U.S. President Donald Trump said Tuesday that under the trade agreement, U.S. exports from Indonesia will face a 19% tariff, while American goods will enter the Southeast Asian country tariff-free. Jakarta has yet to confirm the deal. Inflation in the U.S. reaccelerated in June. The consumer price index rose 0.3% on the month, putting the 12-month inflation rate at 2.7%. While those numbers are in line with expectations, the annual rate is the highest since February and above the Federal Reserve's 2% target. The Nasdaq Composite bucks the trend. A 4% jump in Nvidia boosted the tech-heavy index to a record close, even as the S&P 500 and Dow Jones Industrial Average retreated Tuesday. The pan-European Stoxx 600 index fell 0.37%. Big banks beat earnings expectations. JPMorgan Chase and Citibank on Tuesday reported second-quarter results that beat estimates for earnings per share and revenue. JPMorgan CEO Jamie Dimon said the bank will get involved in stablecoins. [PRO] Fund managers are bullish on European stocks. A Bank of America survey of European fund managers found that 81% of respondents saw upside for the region's equities in the coming 12 months. Trump-backed crypto regulation bills fail to clear key hurdle in Congress Several cryptocurrency regulation bills backed by Trump failed to clear a key procedural hurdle Tuesday in the House of Representatives, dealing a major blow to the crypto industry. The measures had been widely expected to pass. The failure of the rule during what is being billed as "Crypto Week" was a rare instance of House Republicans refusing to take direction from Trump.
