Live updates: Australian share market set to rise as Wall Street gains, RBA to release card surcharge review outcome
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News.com.au
2 hours ago
- News.com.au
‘Gives us justification': Angry bunch of taxi drivers win payout in Uber legal row
Cabbies and hire-car drivers and owners who lost out in the introduction of Uber to Australia will share a colossal $271.8 million compensation package. The massive victory for 8700 drivers and owners nationwide who registered to be involved in the class action has been confirmed after the appeal period in a world-first action expired last week. Assessment will now begin to determine how much individual members of the action will receive. Law firm Maurice Blackburn has been running the legal fight. Former taxi driver and ex-Victorian member of parliament Rod Barton said the seven-year fight against Uber had been justified by the massive settlement. 'We've just got past the last hurdle and we will work towards distribution,' he said. 'But it doesn't get close to the cost and harm that was done to this industry. 'No one is going to get Tattslotto amounts out of this but it gives us justification. 'The government failed the whole industry, they failed to protect us. 'And it's really cool that an angry bunch of taxi drivers were able to drag a unicorn company into court and get this payout.' Mr Barton said other class actions were being explored by taxi drivers in other jurisdictions. 'We set the wheels in motion,' he said. Kim Adey, the manager of Maurice Blackburn's settlement claims assessment team, said last week's passage of the appeal period marked a significant step forward. 'There are thousands of claims to process, so the work will take some time and we will need some help from class members to finalise things along the way,' Ms Adey said. 'We're really looking forward to the claims assessed and payments made as soon as possible.'
News.com.au
2 hours ago
- News.com.au
Environmental reform could slash government spending, lift productivity: expert
Urgent reform of Australia's 'broken' environmental laws would dramatically cut government costs and lift productivity growth, a leading environment expert claims. The Albanese government has faced continued pressure over Australia's sluggish productivity growth, which is among the worst in the developed world. Australian Climate and Biodiversity Foundation chair Ken Henry said sweeping environmental reform could be the solution. The former Treasury secretary will tell the National Press Club in Canberra on Wednesday there is 'no chance' the Labor government will meet its net-zero target while also delivering upon housing and infrastructure commitments without reform to state and federal environmental protection laws. 'The Australian government has an ambition to massively increase critical minerals exports and downstream processing here in Australia,' Dr Henry is expected to state. 'This means more mines, new industrial facilities, and more pressure being loaded onto broken EPBC project assessment and approval processes.' The Environment Protection and Biodiversity Conservation Act, or EPBC, is Australia's main national environmental legislation. Dr Henry said the government's pledge to erect 1.2 million homes by 2030 would require more land and transport, meaning more interaction with EPBC assessments. 'These projects, be they wind farms, solar farms, transmission lines, new housing developments, land-based carbon sequestration projects, new and enhanced transport corridors or critical minerals extraction and processing plants, must be delivered quickly and efficiently,' Dr Henry will tell the NPC. 'All these projects will be critical to enhancing economic resilience and lifting flagging productivity growth. 'Boosting productivity and resilience relies upon environmental law reform. 'But the biggest threat to future productivity growth comes from nature itself; more particularly, from its destruction.' Dr Henry will urge for a breaking of the 'deadlock' to deliver sweeping reforms in a single package. They would include protecting Matters of National Environmental Significance guidelines by shifting the focus to regional planning, urgent finalisation of the effective national environmental standards, and formation of a national environmental protection agency. He will also urge for 'genuine co-operation and a shared purpose' between business and environmental groups as well as between the states and federal government. 'Environmental law reform provides an opportunity to reconstruct the co-operative federal reform capability we developed in the 1990s but have since lost,' Dr Henry will state. 'A strong federal reform capability will be required to deliver other, even more challenging economic reforms. Environmental law reform can provide the template.' Dr Henry said there was 'no point in building a faster highway to hell', and while approvals needed to be granted faster, the environment needed to be protected. 'In reforming the EPBC Act, we can get this right. We have had all the reviews we need,' he will say. 'All of us have had our say. It is now up to parliament. Let's just get this done.' The Labor government is contending with a raft of proposals to fix productivity, from superannuation reform to artificial intelligence and disability inclusion. At the same time, Environment Minister Murray Watt said in May that legislating a federal environment protection agency was a 'very high and immediate' priority.
News.com.au
2 hours ago
- News.com.au
NSW Government unveils New Housing Pattern Book amid Sydney pinch with designs for just $1
The new face of Sydney's terraces and townhouses has been revealed as the state government opens up its design book for would-be home builders for just $1. The NSW Labor government's New Housing Pattern Book will launch on Wednesday morning with eight terrace, townhouse, and manor house designs. Aimed at families, couples, and downsizers, the designs have been endorsed by the Government Architect following a 2024 design competition. For the first six months, the designs will be available for $1 each before rising to $1000, much less than the typical $20,000 price-tag for an architecturally-designed home. Premier Chris Minns said the government's Pattern Book was intended to give home buyers 'more choice, faster approvals, and affordable, high-quality homes. 'Whether you're a young person trying to get in, a family needing more space, or a downsizers looking to stay close to the community you know,' he said. 'This is a practical step to make the housing system fairer – and make sure NSW remains a place where the next generation can afford to live and thrive.' Planning Minister Paul Scully said the government was accelerating the designs, which he described as being 'simple and cost-effective'. 'The NSW Housing Pattern Book takes the guesswork and the delay out of home-building,' he said. 'These designs are high-quality, easy to build, and for the first six months, they'll cost $1. 'These designs offer choice, with less complexity, making it easier to build homes in NSW.' Housing remains the single biggest cost of living pressure in NSW, with the Productivity Commission finding Sydney was losing twice as many young people as it gained. The designs contained in the book are intended to be adaptable to different family sizes and housing needs, including different room formations and layouts. Each design will also be accompanied by a complimentary Landscape Pattern to help new homeowners design their own garden that 'suits the climate'. A new approval pathway will also be implemented to fast-track building of the design-book homes, which will be subject to an advertising campaign. Bunnings CEO Michael Howard said the design book would provide much needed to support to the construction sector in NSW and boost supply. 'Bunnings is ready to help builders, developers and homeowners bring these architect-designed homes to life,' Mr Howard said. The design book comes as the Minns' government continues to face pressure over housing following the failure of the Rosehill Racecourse sale. The project would have seen 25,000 new homes and a Metro station erected on the site, but was shot down by members of the Australian Turf Club. Mr Minns is yet to formally unveil the state government's 'Plan B' following the failed sale, with a focus on new housing developments located close to the CBD.
