Key occasions
Australia might face even greater tariffs from the US, as President Donald Trump says he plans a brand new tariff that could possibly be “somewhere in the 15 to 20% range”.
The US has at the moment positioned a “baseline” 10% tariff on Australia, fairly than a better “reciprocal” tariff.
Trump made the feedback in Scotland, after negotiating a 15% tariff fee with the European Union this week.
Trump mentioned that his administration will notify about 200 nations quickly of a brand new tariff fee for “the rest of the world”.
“I would say it’ll be somewhere in the 15 to 20 per cent range,” he mentioned. “Probably one of those two numbers.”
Benita Kolovos
Following a earlier submit…
The proposed adjustments observe reforms in March, which scrapped the precept of remand solely as a “last resort” for accused youth offenders. As a replacement, neighborhood security has develop into the “overarching principle” when deciding bail for kids and adults.
Two bail offences – “committing an indictable offence while on bail for indictable offence” and “breaching of condition of bail” – had been additionally reintroduced, every including an extra three months of imprisonment to every other sentence imposed.
The offences had been scrapped by the federal government in 2023, after advocacy by the household of Veronica Nelson and suggestions from a coronial inquest into her 2020 dying in custody.
Authorized, first nations and human rights teams all condemned the March adjustments on the time and are more likely to oppose this newest spherical of reforms as nicely. The Victorian Aboriginal Authorized Service (Vals) and Flat Out already had a deliberate rally at parliament on Wednesday morning.
Vals have mentioned for the reason that March adjustments there was a 100% enhance in youth offenders remanded in custody, with a 300% enhance amongst their purchasers. They mentioned this has put youth amenities “drastically under pressure”, leading to extra lockdowns and fewer entry to schooling and assist providers.
Krishani Dhanji
Good morning,
Krishani Dhanji right here with you for what will probably be one other busy day of parliament, because of Martin Farrer for getting us began.
There’s a number of key points working by way of parliament this morning, the web zero debate continues to kick off within the Coalition, whereas the federal government guarantees to extend its subsidy scheme for renewables tasks (I’ll have extra particulars on that in a second).
As my colleague Josh Butler tells us, the federal government will attempt to pace by way of its reforms to childcare this week, and can use the brand new powers as quickly as it might probably to crack down on childcare security.
There’s loads to come back, so follow us (and produce your favorite caffeinated beverage with you!)
Benita Kolovos
Victoria to introduce additional adjustments to state’s ‘toughest’ bail legal guidelines
Individuals charged with critical offences comparable to aggravated housebreaking, carjacking and armed theft whereas on bail will probably be topic to a harder bail take a look at below additional adjustments to Victoria’s bail legal guidelines being launched to state parliament as we speak.
The premier, Jacinta Allan, attorney-general, Sonya Kilkenny, and police minister, Anthony Carbines, will this morning announce a second spherical of bail reforms in simply 4 months, amid issues about the state’s rising crime fee.
Underneath the proposed reforms, bail will probably be refused for anybody accused of a critical offence whereas already on bail for one more critical offence, until the decision-maker is glad there’s a “high degree of probability” the particular person won’t reoffend.
This new take a look at, which is being described by the federal government because the “toughest” within the nation, would apply to alleged offenders of all ages – together with youth – and covers six offences: aggravated residence invasion, aggravated carjacking, armed theft, aggravated housebreaking, residence invasion and carjacking
The federal government mentioned the change will enhance the “likelihood that bail will be refused and prevents re-offending.”
A brand new “second strike” rule that’s being proposed will even make it tougher for folks to get bail if they’re accused of committing one other indictable offence whereas already on bail. This can apply to prices comparable to theft, assault, intercourse offences and critical drug offences.
However the authorities mentioned low-level offences like minor drug possession can be excluded to “avoid remanding vulnerable people unnecessarily”.
The federal government mentioned different safeguards would even be in place to “mitigate any disproportionate impact on vulnerable people” but it surely didn’t define these measures within the media launch.
Kilkenny mentioned:
These legal guidelines defend the neighborhood from critical repeat offenders who endanger Victorians, whereas guaranteeing weak folks aren’t unfairly caught up.
CSIRO report reveals renewable vitality nonetheless most cost-effective
Renewable vitality manufacturing is the most cost effective and nuclear reactors the most costly on the newest figures, AAP reviews.
The CSIRO, Australia’s nationwide science company, launched its GenCost report on Tuesday, revealing rising building and finance prices would push up costs for vitality tasks of all types within the coming years.
Renewable expertise continued to offer the most cost effective vitality technology, the report’s lead creator and CSIRO chief vitality economist Paul Graham mentioned.
“We’re still finding that solar PV and wind with firming is the lowest-cost, new-build low-emission technology,” he informed AAP.
“In second place is gas with (carbon capture storage) … then large-scale nuclear, black coal with CCS, then the small modular reactors.”
Small modular nuclear reactors proved the most costly expertise of the eight choices by a big margin.
Banks to refund prices to low-income clients
Banks will refund greater than $93m to low-income clients who had been charged excessive charges on their accounts, AAP reviews.
Greater than one million folks have already been moved to low-fee accounts, saving an anticipated $50m in annual charges, in keeping with the Australian Securities and Investments Fee’s (Asic) Higher and Past report launched as we speak.
The evaluate follows the Higher Banking for Indigenous Shoppers report, launched in July 2024, which revealed a minimum of 2 million low-income Australians, who relied on Centrelink funds, had financial institution accounts charging excessive charges.
There have been 21 banks included within the newest report, which discovered even bigger numbers of low-income Australians paying an excessive amount of.
The Asic commissioner, Alan Kirkland, mentioned:
What began as an initiative targeted on addressing avoidable financial institution charges for low-income clients in regional and distant areas, notably First Nations shoppers, revealed a a lot wider drawback affecting clients nationwide.
Since July 2024, the 4 banks concerned within the preliminary report – ANZ, Bendigo Financial institution, Westpac and Commonwealth Financial institution (together with Bankwest) – have paid greater than $33m in refunds to the shoppers recognized.
Three of these 4 banks have dedicated to refunds to a broader group of low-income clients who’ve been in high-fee accounts.
The Commonwealth Financial institution and BankWest have indicated they don’t intend on making funds to clients outdoors the preliminary cohort, Asic’s report mentioned.
A number of different banks have additionally reviewed the affect of high-fee accounts on low-income clients and have dedicated to remediation.
An extra $60m will probably be refunded to greater than 770,000 clients consequently.
The Asic chair, Joe Longo, mentioned whereas banks had made enhancements in the course of the fee’s surveillance, there was nonetheless work to be achieved.
EU deal means Australia unlikely to safe US tariff exemption, consultants say
Australia’s hopes for a complete tariff exemption are dwindling as Donald Trump’s offers with different nations lay naked the bounds of commerce negotiations, Australian Related Press reviews.
Since pushing his tariff deadline to 1 August, the US president has struck commerce agreements with Japan, and in a single day, the European Union – a lot to the disgust of French ministers who suppose the EU has caved in to Trump.
Whereas the offers landed on tariffs decrease than Mr Trump’s preliminary threats, each had been greater than the ten% baseline levy imposed on Australian items.
No US buying and selling accomplice has managed to fully dodge tariffs on their objects.
So it appears unlikely that Anthony Albanese and his commerce minister, Don Farrell, can negotiate their means out of any tariffs in any respect.
“Trump really does see tariffs as something that is good in themselves,” College of Sydney US politics professional David Smith informed AAP.
“Even though there were a lot of hopes at the beginning of this process that countries could negotiate their way out of tariffs altogether – that’s not really happening.”
Australia, like different nations, may as an alternative should pivot approaches and attempt to strategically place its industries inside these offers.
Welcome
Good morning and welcome to our stay politics weblog. I’m Martin Farrer with the highest in a single day tales after which it’ll be Krishani Dhanji with the principle motion.
Anthony Albanese might discover it exhausting to barter a tariff-free commerce take care of the US after the European Union grew to become the newest American buying and selling accomplice to accept greater tariffs on exports to the world’s greatest market. One professional warns as we speak that it’s trying more and more unlikely that Labor will minimize a tariff-free deal. Extra arising.
4 banks will refund prices to low-income clients after the monetary regulator discovered {that a} a lot greater variety of Australians had been paying an excessive amount of than initially thought. Extra on that shortly.
And Labor goes to introduce new bail legal guidelines to the Victorian parliament which it says are the “toughest” within the nation, regardless of opposition from authorized, First Nations and human rights teams. Extra on that too, in a couple of minutes.
