Trump has made ‘big difference' to the Australian economy
'I think they've almost got it; they've almost got it in the bag,' Mr Johnston told Sky News Australia.
'You could almost see the smile on the face of the Reserve Bank Governor – and that's a big deal, you never see these people smile.
'Donald Trump has made a big difference to the outlook for the economy.'
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Perth Now
26 minutes ago
- Perth Now
Major step towards cutting maximum medicine cost to $25
Australians will pay no more than $25 for selected medicines for the first time in more than 20 years under a proposal to be brought before parliament. It will be the second cap on medicines on the Pharmaceutical Benefits Scheme (PBS) introduced by the Albanese government in three years, after it cut the maximum price of PBS prescriptions from $42.50 to $30. "The size of your bank balance shouldn't determine the quality of your health care," Prime Minister Anthony Albanese said. "My government will continue to deliver cost-of-living relief for all Australians." PBS medicines would be capped at $7.70 for pensioners and credit card holders until 2030. The bill's introduction is largely a formality, with its passage through the lower house all but assured thanks to Labor's massive 94-seat majority in the 150-seat House of Representatives. The election promise is the Albanese government's next priority after it introduced childcare safety and HECS debt reduction legislation. Federal Labor has been talking up plans to strengthen the PBS amid concerns the scheme will be targeted as a bargaining chip in US trade negotiations to ward off threatened pharmaceutical tariffs. Mr Albanese has repeatedly said the scheme was not up for negotiation. Australia eased its biosecurity restrictions on US beef imports last week, but the prime minister has denied the move was linked to US trade talks, noting it followed a 10-year review of Australian biosecurity rules. Beyond new legislation, conflict in the Middle East will likely prompt fierce debate on the parliamentary floor after Mr Albanese said Israel had breached international law by blocking the flow of food aid into Gaza. "Quite clearly, it is a breach of international law to stop food being delivered, which was a decision that Israel made in March," Mr Albanese said on ABC's Insiders program on Sunday. He stopped short of saying Australia would join France in recognising a Palestinian state, but said his government would decide at "an appropriate time". "Hamas can have no role in a future state," he said. "Hamas are a terrorist organisation who I find, their actions are abhorrent." Opposition foreign affairs spokeswoman Michaelia Cash said Mr Albanese failed to adequately condemn the role of the group in the ongoing conflict. The government is also likely to come under pressure regarding transparency when parliament resumes, after a Centre for Public Integrity probe revealed only a quarter of freedom of information request responses returned by the government in 2023-24 were un-redacted. By comparison, the Morrison government returned almost half of its FOI requests as complete documents in 2021-22.
West Australian
26 minutes ago
- West Australian
Major step towards cutting maximum medicine cost to $25
Australians will pay no more than $25 for selected medicines for the first time in more than 20 years under a proposal to be brought before parliament. It will be the second cap on medicines on the Pharmaceutical Benefits Scheme (PBS) introduced by the Albanese government in three years, after it cut the maximum price of PBS prescriptions from $42.50 to $30. "The size of your bank balance shouldn't determine the quality of your health care," Prime Minister Anthony Albanese said. "My government will continue to deliver cost-of-living relief for all Australians." PBS medicines would be capped at $7.70 for pensioners and credit card holders until 2030. The bill's introduction is largely a formality, with its passage through the lower house all but assured thanks to Labor's massive 94-seat majority in the 150-seat House of Representatives. The election promise is the Albanese government's next priority after it introduced childcare safety and HECS debt reduction legislation. Federal Labor has been talking up plans to strengthen the PBS amid concerns the scheme will be targeted as a bargaining chip in US trade negotiations to ward off threatened pharmaceutical tariffs. Mr Albanese has repeatedly said the scheme was not up for negotiation. Australia eased its biosecurity restrictions on US beef imports last week, but the prime minister has denied the move was linked to US trade talks, noting it followed a 10-year review of Australian biosecurity rules. Beyond new legislation, conflict in the Middle East will likely prompt fierce debate on the parliamentary floor after Mr Albanese said Israel had breached international law by blocking the flow of food aid into Gaza. "Quite clearly, it is a breach of international law to stop food being delivered, which was a decision that Israel made in March," Mr Albanese said on ABC's Insiders program on Sunday. He stopped short of saying Australia would join France in recognising a Palestinian state, but said his government would decide at "an appropriate time". "Hamas can have no role in a future state," he said. "Hamas are a terrorist organisation who I find, their actions are abhorrent." Opposition foreign affairs spokeswoman Michaelia Cash said Mr Albanese failed to adequately condemn the role of the group in the ongoing conflict. The government is also likely to come under pressure regarding transparency when parliament resumes, after a Centre for Public Integrity probe revealed only a quarter of freedom of information request responses returned by the government in 2023-24 were un-redacted. By comparison, the Morrison government returned almost half of its FOI requests as complete documents in 2021-22.
The Age
4 hours ago
- The Age
Power giant warns of ‘two-speed' green shift which benefits only the rich
Millions of Australians face being left behind in the race to greener energy, one of the nation's largest power distributors has warned, as renters miss out on huge savings from solar panels while homes without off-street parking cannot install electric vehicle chargers. From this year, home-owners with solar panels stand to benefit from even bigger electricity bill cuts following the introduction of federal government rebates wiping thousands of dollars off the cost of installing batteries that can soak up their excess energy. Increasing home battery uptake has many advantages: it will enable Australia to harness more of its world-leading per-person solar panel uptake to use after sunset, drive down greenhouse gas emissions and smooth out volatile price swings across the market. But the household clean energy boom may create winners and losers, warns Ausgrid, the largest power distribution company on Australia's eastern seaboard. The company points to renters and lower-income Australians who are unable to make the switch and are forced to stay on increasingly expensive fossil fuel-based energy supplies. 'The problem we see is that if you don't own your own home, or have the financial wherewithal, you are faced with the full system cost of the transition,' said Rob Amphlett Lewis, Ausgrid's group executive of distributed services. Loading 'What we are in danger of is a two-speed transition that works for the 'haves' and is paid for by the 'have-nots'.' Ausgrid and other Australian distribution network service providers are seeking to expand their reach beyond building and maintaining the network's poles and wires and into other future-facing functions where they believe they are well placed to deliver more efficient outcomes for consumers. Their push, however, has opened a major new rift in the industry between network operators and a wide range of other electricity market participants, which are urging regulators against any waiver from 'ring-fencing' rules designed to prevent monopolies from encroaching on competitive markets, and argue it could drive up costs.
