Mount Isa faces uncertain future, with imminent closure of copper mine
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News.com.au
3 hours ago
- News.com.au
Labor to introduce Bill to cap PBS-listed scripts at $25, PM dodges questions on super tax
Labor will begin its first steps to legislate its election promise to cap the cost of scripts listed on the Pharmaceutical Benefits Scheme to $25 from January 1 of next year. Once passed, eligible medicines will be lowered from $31.60 to $25. The government estimates the change will save Australians $200m a year, while costing the budget $690m over four years. This is in addition to previous reforms which allowed patients to acquire 60-day prescriptions, and freezing the cost of medicine for pension and concession card holders at $7.70 until the end of 2029. The election pledge was also matched by the Coalition, suggesting the Bill will likely have a swift passage through parliament. Anthony Albanese said it was a promise delivered. 'This is another example of cost of living relief that helps every Australian,' Mr Albanese said. 'The size of your bank balance shouldn't determine the quality of your healthcare. My government will continue to deliver cost of living relief for all Australians.' Health Minister Mark Bulter also welcomed the incoming Bill. 'Cheaper medicines are good for the hip pocket and good for your health,' Mr Butler said. 'For general patients medicines haven't been this cheap since 2004. 'For pension and concession card holders we've frozen your medicine prices at a maximum price of $7.70 until the end of the decade.' The Bill comes as the United States lashed Australia's PBS as 'discriminatory' amid tariff negotiations to remove the general 10 per cent levy, as well as fees on Australian steel and aluminium US imports. Concerningly, US President Donald Trump has also flagged a 200 per cent tariff on pharmaceutical imports, which could have a major impact on $2bn of Australian exports. However the Albanese government said it is unwilling to use the PBS as a bargaining chip. On Sunday, Mr Albanese also faced a grilling over when Labor would introduce its proposed plan to double the tax on superannuation accounts over $3m up to 30 per cent. He said the Bill 'will come in time' and that the priority in the first fortnight was policies 'that make a difference to people's money in their pocket'. Perth MP and assistant minister to the Prime Minister Patrick Gorman said the government had been 'clear about our priorities' for the Bill and said he was 'confident it will pass'. 'I think we have seen in this building, time and time again, that when it comes to getting things through parliament, you have got to also let the parliamentary processes do their piece,' he said.
Sydney Morning Herald
6 hours ago
- Sydney Morning Herald
CFMEU stain on our society must be removed
Disclosures by the Herald last week involving a gangland associate, a Gold Coast developer and the CFMEU are disturbing – not only because they are innately concerning, but also because they show yet again that the cancerous network of thuggery, intimidation and misfeasance that contaminates business, industry and wider society throughout this country continues. It is a stain on the nation. The Herald reported that gangland associate John Khoury was paid $110,000 by Queensland-Melbourne joint venture Glen Q to help secure industrial peace on the Gold Coast, where the developer was building a 16-level project at Broadbeach. A meeting was held between influential CFMEU figures and Khoury. This occurred four months after the federal government forced the union into administration. There is no suggestion the union attendees have done the wrong thing and the administration has also cleared them. But the payment to Khoury by the developer was uncovered during federal police raids. A money trail was thus revealed between a front company in the name of Khoury's accountant to Glen Q's project. Also involved was Nick Maric, a Melbourne construction boss now a Queensland government contractor, who has separately retained the services of Khoury and Mick Gatto to deal with the CFMEU. Glen Q's payment to Khoury focuses light on how business and construction is done. Our reporting also highlights the rivalry between the CFMEU and the Australian Workers' Union. Representatives of the latter support two firms led by figures with criminal links to foil the CFMEU.
News.com.au
9 hours ago
- News.com.au
Balwyn North home sells for $2.975m after auction showdown
A six-way auction showdown has seen a single-level Balwyn North home sell for $2.975m, topping Melbourne's PropTrack weekend auction results. The impeccably maintained home at 9 Macedon Ave drew a crowd of about 60 onlookers and sparked fierce competition from families and downsizers alike, with six bidders pushing well beyond expectations. The campaign attracted nearly 100 groups through the door, many drawn by its rare blend of low-maintenance luxury, flexible living, and proximity to both North Balwyn Village and the Balwyn High School Zone, one of the city's most coveted catchments. Revealed: The Block's priciest mistakes Fletchers Balwyn director Daiman Kane said the home was 'as move-in ready as it gets' and hadn't changed hands in more than 20 years. 'It was very competitive, the moment bidding opened it was game on,' Mr Kane said. 'It's a beautifully kept, one-owner home, walking distance to shops, cafes, trams and one of Melbourne's best public schools. That kind of package just doesn't come up often.' The single-level floorplan was another major drawcard, particularly for buyers seeking downsizer-friendly living without sacrificing space or lifestyle. The home includes four bedrooms, three bathrooms, and multiple indoor-outdoor living zones, including an alfresco terrace surrounded by lush gardens, a water feature and a mini putting green. Inside, parquetry floors frame the open-plan family zone, anchored by a granite kitchen with Smeg and Miele appliances, a walk-in pantry, and abundant storage. Mr Kane said there wasn't a cent to spend on the home. 'The buyers loved that they could move straight in and enjoy everything, no renos, no compromises,' he said. The winning bidder, a single woman downsizing from a larger home, had been searching for the right property in the area and 'acted quickly' once she found it. 'She was absolutely ecstatic — and rightfully so,' Mr Kane said. 'For a downsizer who still wants space, garden, and walkability, this was the perfect match.' The Fletchers Balwyn director said the result was a clear signal that quality listings is in short supply, and buyers are willing to stretch for the right property. 'Winter's actually proving to be a great time to sell,' Mr Kane said. 'There's less on the market, but the buyer pool is still strong, and good homes are being snapped up fast.' With a potential interest rate cut tipped by the Reserve Bank next month, Mr Kane said momentum was building across Melbourne's established suburbs. 'If you're a buyer waiting for the perfect conditions, this might be your window,' he said. 'Confidence is definitely returning, and we're already seeing that reflected in competition and results.' PropTrack data shows Melbourne home values rose 1 per cent in June, with buyer urgency and low stock levels combining to drive strong winter clearance rates, a trend expected to accelerate in spring. 'You can really feel the energy starting to shift,' Mr Kane said. 'We're on the upswing, and there's still time to catch the wave.'
