Banks to disregard HELP debts in mortgage applications

Reported at www.abc.net.au: Treasurer Jim Chalmers has instructed financial regulators to direct banks to exclude HECS-HELP and other student loans from mortgage debt calculations, potentially increasing borrowing power for first-time homebuyers.

Updated lending rules from APRA will clarify that housing developers do not need to fully sell all units off the plan to qualify for loans. These measures aim to address the housing crisis while the Coalition considers its own lending requirement adjustments.

No Tariff exemption steel and aluminium

Reported at www.sbs.com.au: US President Donald Trump has imposed a 25 percent tariff on all imported steel and aluminium, with no exemptions for Australia, despite an earlier discussion that suggested consideration for an exemption.

Australian industry leaders express concern about the negative impact of these tariffs, with the Australian Industry Group describing the move as a “slap in the face.”

NT establishes lobbyist register, defunds environment groups

Reported at www.abc.net.au: The Northern Territory government has established a lobbyist register that requires third-party lobbyists to register, but it excludes in-house lobbyists employed by companies and does not mandate the publication of ministers’ meeting records.

This move has faced criticism for its lack of transparency and significant gaps, as it does not include all lobbyists or disclose ministerial diaries.

The government has also defunded the Environment Centre NT and the Arid Lands Environment Centre, previously providing each with $100,000 annually, with claims that funding could be better spent elsewhere.

Tariff exemption for Australia ‘under consideration’

From www.abc.net.au: Prime Minister Anthony Albanese has announced that a tariff exemption for Australian steel and aluminium exports to the United States is “under consideration” following a phone call with US President Donald Trump.

During this conversation, Albanese presented his case for the exemption, and Trump agreed to the wording that the exemption is being considered.

Despite the constructive dialogue, Albanese did not express confidence about securing the exemption, and was not speaking on behalf of the US president.

NT CLP government ends treaty negitiations

Reported at www.abc.net.au: The Northern Territory’s Country Liberal Party government has officially ended its treaty negotiations with Aboriginal people, a process initiated by the previous Territory Labor government in 2018.

Chief Minister Lia Finocchiaro stated that the CLP never supported a treaty, and their focus will now shift towards restoring local control to community councils.

Sensible APS efficiency savings, amid the Canberra bashing

From www.themandarin.com.au: Opposition Leader Peter Dutton aims to reverse growth in the Australian Public Service to save $24 billion over four years, although achieving this within the forward estimates may be challenging.

The APS has grown less dramatically than claimed, being a smaller percentage of the population compared to 2008, and recent growth has come with improved public services despite rising administrative costs.

Concerns remain about the politicization of the APS and maintaining merit-based appointments.

government spending

FRom www.rossgittins.com: Ross Gittins notes that while voters criticise government spending in general, they resist when specific cuts are proposed.

Referencing Peter Dutton’s claims of wasteful spending, he notes that public service employment is historically low relative to the population.

Gittins argues that government spending, does not necessarily align with claims of inflationary irresponsibility, and Australia’s overall government expenditure remains among the lowest in the OECD.

Senate passes Labor’s flagship clean energy plan

Reported at www.sbs.com.au: The Australian Senate passed major tax incentives aimed at promoting clean energy, particularly for renewable hydrogen production and critical minerals processing, following a deal with the Greens.

Finance Minister Katy Gallagher emphasized that these tax breaks are crucial for providing investment certainty and supporting businesses in the transition to a renewable energy future.

The bill, part of Labor’s “Future Made in Australia” policy, now awaits approval from the lower house.

Greens: slash NBN chief’s salary in exchange for anti-privatisation

Reported at www.theguardian.com: Greens senator Sarah Hanson-Young has called for a significant salary cut for the NBN CEO, suggesting a reduction of around $2.5 million, to occur in exchange for supporting a bill that aims to prevent the privatisation of the national broadband network.

The proposed amendments include capping senior executive salaries and ensuring that NBN services remain affordable and accessible during the ongoing cost-of-living crisis.

Labor’s ability to pass the bill will depend on securing support from the Greens and other crossbench senators, as the Coalition opposes it.

Renewed US-China tensions spell trouble for Australia

Reported at johnmenadue.com: Renewed tensions between the US and China, driven by tariffs and sanctions under the Trump administration, pose challenges for Australia’s economy, heavily reliant on Chinese trade.

The potential for increased decoupling from China, encouraged by US policy shifts, risks inflating costs for Australian consumers and diminishing economic stability and growth.

Despite previous disruptions, Australia managed to redirect some coal exports, but its primary commodity, iron ore, remains predominantly dependent on China, accounting for 83% of its exports in 2022.

Whyalla steelworks has unpaid debts to SA

Reported at www.abc.net.au: GFG Alliance, the owner of the Whyalla steelworks, owes approximately $15 million in unpaid water bills to SA Water, with concerns raised about the company’s solvency following multiple production shutdowns in 2024.

South Australian Treasury Department chief executive Tammie Pribanic stated that GFG has also not made any royalty payments this financial year.

The government is preparing contingency plans in response to the situation.

politicians leaving

From michaelwest.com.au: A number of politicians have bid farewell ahead of the federal election.

Independent Kylea Tink emphasised the importance of community independents standing against the party system, while retiring Liberal Paul Fletcher praised party diversity under new leadership.

Labor backbencher Graham Perrett urged for compassion towards the transgender community in his farewell speech, highlighting the need for inclusivity in politics.

Australia seeks exemption to Trump’s 25% tariff on steel

Reported at www.theguardian.com: The Australian government is actively trying to secure exemptions from President Donald Trump’s newly announced 25% tariffs on steel and aluminium imports, which he stated would apply to all countries.

Senior ministers, including Trade Minister Don Farrell, have been negotiating on behalf of Australia to reinstate exemptions previously granted during Trump’s first term.

The Albanese government has referred to the mutual economic benefits of trade between Australia and the U.S., while opposition members stress the urgency to achieve special treatment for Australia.

See also: Trump’s latest tariff bid shows the old rules of trade no longer apply.

States’ DeepSeek ban

Reported at www.themandarin.com.au: State and territory governments in Australia, including the ACT, NSW, South Australia, Queensland, Western Australia, and the Northern Territory, have banned the Chinese AI chatbot DeepSeek on government devices, citing security concerns.

The bans follow a directive from the Department of Home Affairs and emphasise data sovereignty issues related to user data collection.

Experts note that while DeepSeek poses risks, similar concerns also apply to US-based AI models like ChatGPT, with the key difference being the legislative power Australia has over US companies compared to those based in China.

Australian electoral prospects

From johnmenadue.com: Rob McMullan critiques the current Australian political landscape, highlighting the immature reporting of opinion polls and the misunderstanding of global political trends.

The decline in support for the Labor government aligns with a broader global trend of incumbents losing ground, rather than being solely a result of specific Australian policies.

McMullan warns against using early polling data to predict election outcomes, illustrating that significant shifts often occur in the lead-up to elections, making accurate predictions challenging.

lock on grocery prices in regional communities

Reported at www.sbs.com.au: The federal government of Australia has announced a plan to align grocery prices in remote communities with those in metropolitan areas, impacting over 76 remote stores.

This initiative, part of the Closing the Gap statement, aims to address high living costs for Indigenous Australians by stabilizing prices for essential items and improving health outcomes in these communities.

Minister Malarndirri McCarthy emphasized the need for affordable and nutritious food to combat health issues prevalent in Indigenous populations.

Progress on poverty and homelessness

Reported at independentaustralia.net: The Albanese Government has made significant progress in reducing poverty and homelessness in Australia within just two years, according to Productivity Commission data.

While challenges remain for some persistently homeless individuals, the overall trend shows a marked decline in both poverty and homelessness.