Key occasions
What does Albanese’s cupboard picks inform us about his subsequent steps?
Anthony Albanese’s reshuffle accommodates 4 vital components, based on our chief political correspondent, Tom McIlroy.
First, the large six portfolios remained unchanged, whereas the main adjustments come within the second rank – with Michelle Rowland, for instance, shifting from communications to lawyer common.
There’s the introduction of recent blood – such because the Yale-educated economist Daniel Mulino appointed as assistant treasurer – after which there’s larger political shifts, together with Tanya Plibersek making approach for Murray Watt within the difficult function of surroundings minister. All of which, Tom argues, reveals it’s nonetheless security first for Albanese.
Learn his piece right here:
Liberals count on to substantiate Monash maintain
Catie McLeod
The Liberals are anticipated to have fended off a robust problem from Labor to retain the Victorian seat of Monash, based on the ABC’s projections.
The ABC known as Monash for the Liberal get together final evening, greater than per week after the federal election was held.
As of 8pm final evening, and with 88.7% of the vote counted, Liberal candidate Mary Aldred was main Labor’s Tully Fletcher by 8,397 votes.
The seat, which covers a part of Victoria’s Gippsland area, had been held by Russell Broadbent for the Liberal Celebration since 2004.
Broadbent, who resigned from the Liberal get together in 2023 after dropping preselection to Aldred, contested the seat as an unbiased however secured solely 10.3% main votes, in contrast with Aldred’s 32.1%.
Patrick Commins
As economists and enterprise leaders name for a bolder reform agenda to raise the nation’s flagging productiveness, Chalmers additionally flagged the Albanese authorities may even need to navigate the reshaping of the worldwide financial order on account of Trump’s protectionist commerce insurance policies and common disregard for longstanding worldwide norms and establishments.
“Managing global uncertainty is the necessary precondition for everything else we want to do to strengthen our economy and make it more productive, competitive and dynamic over time,” he mentioned.
After each election every division prepares two “incoming government briefs”, generally known as the crimson guide (for a Labor authorities) and the blue guide (for a Coalition authorities).
The Worldwide Financial Fund not too long ago slashed its progress forecasts for the Australian economic system in 2025, from 2.1% to 1.6%, citing the affect of Trump’s commerce conflict.
Treasury’s forecasts haven’t as but factored in such a big hit to progress – and todays’ information of Trump backing down on his commerce conflict with China provides one other twist.
Brace for world dislocation, Chalmers warns
Patrick Commins
The beginning of the 148th federal parliament coincides with the world “entering a period of global dislocation not seen” because the second world conflict, Jim Chalmers has warned.
The offshore threats to Australia’s economic system over the approaching three years loomed giant in treasury’s post-election briefing to Chalmers, which he mentioned warned of the “damaging” results of Donald Trump’s commerce conflict.
Chalmers met with the treasury secretary, Steven Kennedy, early on the Sunday morning instantly after the Saturday 2 Could election which handed an unexpectedly massive win to the incumbent Albanese authorities.
“We know the job isn’t finished and we know we will be faced with more global economic volatility and unpredictability over the next three years, not less,” Chalmers mentioned in an announcement final evening. “It’s one of the reasons why Australians voted so emphatically for stability in uncertain times.”
A truck driver was ambushed and shot in Sydney’s south west in a single day.
About 11.20pm yesterday, emergency providers have been known as to Yennora, following studies of a taking pictures, police mentioned in an announcement.
Officers have been advised a 29-year-old man had been driving a truck on Donald Road, when a automobile stopped in entrance of him.
A person allegedly exited the automobile and fired a number of pictures on the truck, earlier than getting again into the automobile and leaving the scene.
The truck driver was handled by NSW Ambulance paramedics for gunshot wounds to his wrist and stomach and brought to Liverpool Hospital in a secure situation.
Police have been investigating a hyperlink to 2 subsequent automobile fires: a black Lexus sedan alight in South Granville, and a second automobile alight in Chester Hill.
Welcome
Good morning and welcome to our stay information weblog. I’m Martin Farrer with a number of the prime in a single day tales after which Cait Kelly will take the controls.
All eyes might be on the Liberal get together room in Canberra in the present day as Sussan Ley and Angus Taylor vie for the management. We’ll deliver you the newest from Canberra because it occurs. Whoever wins, it’s going to be a tricky job to mount an opposition to Anthony Albanese with a diminished crop of MPs and an electoral mountain to climb in three years.
Our newest polling reveals a surge in help for Albanese’s management – mixed with requires him to get on with reforms on housing, well being and vitality. Housing will not be getting any simpler, although, with new figures displaying Labor’s election win has already given a enhance to the property market. Extra arising.
The treasurer, Jim Chalmers, has warned Australians to brace for financial turbulence as Donald Trump’s commerce tariffs threaten to hazard the nation’s “soft landing” from excessive inflation. Though the US president supplied hope to markets in a single day with the prospect of a “total reset” on commerce with China, Chalmers mentioned Australia was getting into “a period of global dislocation” not seen because the second world conflict. Extra on that, too, quickly
