POLITICS

‘Australian private schools, particularly those with the wealthiest students, received $130 million in government funding in 2023, despite already having significant funding from private sources’ – reported at www.theguardian.com.

‘Data reveals significant disparities in funding between public and private institutions, prompting negotiations between federal and state governments.’

From the Federal Treasurer’s media release: ‘Today’s National Accounts confirm that growth in the Australian economy continues to be positive but weak.

Our economy is growing but very slowly, weighed down by interest rates, cost of living pressures and global uncertainty.

The ABC reports: ‘A major renewable energy project in south-east Queensland is $4.2 billion over budget and three years behind schedule.’

‘ a Queensland Hydro report, commissioned before the election has revealed the project will now cost $18.4b and will not be ready until 2033 at the earliest.’

Guardian Essential report: ‘do voters’ views on housing and wages spell trouble for Labor? – Australian Politics podcast’

‘Guardian Australia’s chief political correspondent, Paul Karp, and Essential Media’s executive director, Peter Lewis, discuss the public’s disappointment with Labor’s handling of the housing crisis and what that means for the party in the lead-up to a federal election’

‘The Commonwealth Bank has paused its plans to charge customers a $3 fee to withdraw their own money at bank branches around the country. ‘- reported at www.abc.net.au

‘The bank had been under pressure to scrap the fee altogether from both sides of politics, with the federal government describing it as a “terrible decision” that was a “kick in the guts” to customers.’

‘Australian National University surveyed 3,622 people and found only 38% have confidence in the federal government. ‘ – reported by The Guardian

‘ the prime minister, Anthony Albanese , had “significantly higher” favourability than Peter Dutton leading into the 2025 election.’

‘Crypto exchanges and firms dealing with digital assets in Australia would no longer be able to avoid costly licensing under proposed guidance from the country’s corporate regulator.’ – reported at cointelegraph.com

‘On Dec. 4, the Australian Securities and Investment Commission (ASIC) released a consultation paper on proposed guidance for crypto, placing many digital assets under the category of financial products’

‘Commonwealth Bank will start charging customers using one of its popular transaction accounts a $3 fee for accessing money from a branch, drawing an angry response in a period marked by robust bank profits and a cost-of-living crunch’ reports The Guardian.

‘The financial services minister, Stephen Jones, said CBA needed to overturn the planned changes.

From: theshot.net.au: ‘At the risk of pissing everyone off, both the ALP and the Coalition cannot be trusted to govern humanely, intelligently, honestly and competently in their own right. Those days are long past. Parliamentary politics as it stands cannot save us from ourselves.’

Reported at www.themandarin.com.au: ‘A Senate committee says using Australian government funding to support elevated costs as a result of preferential deals with the CFMEU is inappropriate.’

‘The committee report argues that such arrangements drive up construction costs.’

Reported at themandarin.com.au: ‘The Reserve Bank of Australia governor Michele Bullock made some rather surprising remarks at this year’s Australian Securities and Investments Commission annual forum.’

‘Despite the profitable return of the digital currency Bitcoin, currently fetching A$143,240 per coin, Bullock had little time for any assessment that deemed cryptocurrency “an alternative currency”. It is “not a currency, it’s not money, it’s being used as some sort of asset class.” ‘

A 2024 poll sheds light on the persistent anti-Chinese sentiment in Australia, with findings that suggest the AUKUS policy is playing a significant role in maintaining this atmosphere, despite the Labor government’s more “restrained” public rhetoric on China. – reported at Pearls & Irritations

The ABC reports: ‘Victoria has been labelled the worst jurisdiction in the country to open a new business ‘

‘The poor ranking in this year’s annual Business Council of Australia (BCA) review of taxes and regulations found the Labor-run state had the nation’s “worst business settings” and the “most work to do in improving its business fundamentals”. ‘

‘The federal government plans to impose new competition rules on platforms like Google, Meta, and Amazon, and will consider if the digital giants unfairly wield their market power to the detriment of small business users.’ reports Smart Company

‘The proposal is an “encouraging step” to address the potential power imbalance between SMEs and the digital platforms they are now reliant upon, said Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Bruce Billson.’

‘Telcos will be required to block scam texts or warn recipients they come from unregistered senders, under new rules to be introduced by the Albanese government.’ reports The Guardian

‘The communications minister, Michelle Rowland, has revealed she will create a mandatory SMS sender ID register and direct the Australian Communications and Media Authority to either block or include a warning if a sender is unregistered.’

Reported by Hall and Wilcox: ‘Regulated entities will be required to adhere to principle-based obligations, monitored and enforced by the ACCC.’

‘A regulated entity will be required to report and share information indicating possible detected scam activity with the ACCC, develop and implement appropriate governance arrangements for protecting Scam Prevention Framework (SPF) consumers against scams and take reasonable steps to prevent, detect, disrupt and respond to scams relating to its regulated service.’

Climate 200’s ads linking Peter Dutton and Donald Trump drew 3,900 donations including from 1,373 people who donated to it for the first time, it says. – reported at www.theguardian.com

The funding aggregator claims to have raised $377,000 from 3,900 donations including 1,373 people who donated to it for the first time, the biggest wave of first-time supporters since it was launched in 2021.

‘Telstra has acquired popular pre-paid provider Boost Mobile for $140m – and in the process the massive deal has earned former Australian Prime Minister Paul Keating a cool $40m windfall.’ – reported at www.techguide.com.au

‘Keating, Australian PM between 1991 and 1996, was an early investor in Boost Mobile with a 29 per cent share in the business and he invested a further $500,000 in 2000 when the when the fledgling telco was negotiating to use the Optus network.’

From the ABC: ‘Adam Bandt said a formal agreement with Labor would have “a lot of merit” in setting out the next parliament’s priorities.’

‘ “I think working that out in advance, working out what the benefits will actually be for people and knowing how then the next three years would map out … that is probably the priority,” Mr Bandt told the ABC’s Afternoon Briefing on Tuesday.’

‘Voting to expel Malcolm Turnbull from the party has become somewhat of a tradition for NSW Liberals.’ – reported at www.crikey.com.au

‘The motion to expel, which Crikey understands will be brought by hard-right elements within the Shire branch, complains “little has come out of [Turnbull’s] mouth that has been positive to the party and its future” since he lost his prime ministership.’