From 1h ago No vote came from ‘grievance camp’, Labor MP says Marion Scrymgour: With the failure of the referendum, we are stuck with a Constitution built on a deliberate plan for exclusion and discrimination by way of race, which still retains a race power rather than a mechanism for recognising the special relationship the commonwealth government must have with its First People as a result of the way this continent was colonised. That is something which we are all going to have to accept and do our best to…
Tag: Australian economy
Australia news live: Dutton says opposition ‘won’t be departing’ from net zero, China welcomes PM’s confirmed visit
From 26m ago Paul Karp Dutton says opposition ‘won’t be departing’ from net zero In recent days some in the Nationals have agitated to abandon the commitment to net zero, through a motion to be debated at Nationals conference and comments from frontbencher Barnaby Joyce that the estimated cost of net zero was “utterly untenable”. The opposition leader, Peter Dutton, has just rejected that push, telling Radio National the Coalition “won’t be departing” from net zero. He said: No [it doesn’t concern me], there’s strong support for net zero. It’s…
As China’s economy stalls, Australia braces for the impact on its currency and tourism market
With strong financial ties to China, Australia is bracing for impact as the country’s deepening economic woes threaten its trading partners. Growth has stalled in China, as has foreign investment, at the same time as a property crisis worsens, with developers Evergrande and Country Garden facing severe financial difficulties. Youth unemployment had surged to 21.3% before Beijing abruptly suspended the data series, setting alarm bells ringing. Australia was planning to profit from China’s pandemic recovery, before signs emerged that all was not well with the major iron ore customer and…
Australia’s oversupply of wine tops 2.8bn bottles in wake of China trade dispute
Australia has an oversupply equivalent to more than 2.8bn bottles of wine – a little more than 100 bottles per person – after the trade dispute with China slashed exports to the biggest consumer of Australian wines. The excess wine is being stored in large steel vats in wineries across Australia, equating to 859 Olympic wine-filled swimming pools. The removal of Chinese tariffs on Australian barley has some grape growers optimistic that the five-year wine tariffs implemented in 2021 may be dropped early, but a new Rabobank report suggests even…
In previous downturns the world turned to China as an engine of growth – this time that driver may not be there
When Australia’s central bank released its quarterly economic update last week, China’s “uncertain” economic outlook topped a list of domestic worries for Australia. The International Monetary Fund too singled out China in its latest world economic outlook as among the “downside” tilts to its balance of risks. The recovery of the world’s second-biggest economy from the Covid pandemic was faltering, “with cross-border spillovers” likely if it slowed, the IMF said. Wednesday brought further confirmation of China’s disappointing performance as the economy slipped into deflation for the first time since late…
China agrees to scrap barley tariffs in easing of trade tensions with Australia
China has agreed to scrap its 80% tariffs on Australian barley, in a major win for Canberra’s push to ease trade barriers between the two countries. The tariffs were first imposed in 2020 at the height of tensions, and prompted a lengthy challenge by Australia through the World Trade Organization. In a notice on its website published on Friday, China’s commerce ministry announced that “in view of the changes in the market situation of barley in China” it was “no longer necessary to continue to impose anti-dumping duties and countervailing…
Australia news live: Chalmers meets with China on trade sanctions; UK PM hopes Commonwealth Games stay in Australia
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Australia news live: Philip Lowe reportedly to be replaced as RBA governor; Wong meets top Chinese diplomat
<gu-island name="KeyEventsCarousel" deferuntil="visible" props="{"keyEvents":[{"id":"64b067568f08df2847003b8c","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The Reserve Bank governor Philip Lowe will reportedly be replaced when his seven-year contract concludes in mid-September, according to the ABC. ","elementId":"449618a1-4dac-41f8-89a6-8ee101ef6d71"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" An announcement from treasurer Jim Chalmers is expected to follow today’s cabinet meeting, when the topic of Lowe’s replacement will be discussed. ","elementId":"50b6d4b9-5044-401e-970b-55fcaa10010f"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Guardian Australia has not yet been able to confirm this. We will bring you updates as they come. ","elementId":"1b8f1abd-e9b3-4fa3-a690-4bf8f7709bdb"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" In the meantime, here is more on what the future may look like for the Australian economy, the RBA and Lowe, from…
Australia news live: Penny Wong ‘deeply disappointed’ by Hong Kong arrest warrants; borrowers await rates decision
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Australia news live: councils to get $100m energy efficiency fund; tributes flow for James Hardy
<gu-island name="KeyEventsCarousel" deferuntil="visible" props="{"keyEvents":[{"id":"648af1a08f08abfd8db3d1f0","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The Australian Services Union has criticised the federal government over its handling of a Services Australia procurement process, which it says will leave more than 600 call centre employees out of work in a matter of weeks. ","elementId":"fc30f7f8-0d9f-4585-a708-b140d6cd4cac"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Services Australia-contracted Serco employees were told today that the company’s contract would end on 30 June. Most are award workers, while some are casual, with little to no termination entitlements. ","elementId":"e159e04d-c05d-464b-9fb3-3138e870cca5"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" ASU Victorian private sector branch secretary Imogen Sturni said the decision would see workers unemployed in a…