Here is a look at what is making news around the country today.
Today’s national news includes Australia ending the monarchy and King Charles as head of state, lithium to would match coal’s significance within five years, Peugeot abolishing diesel SUVs in Australia, the Rental crisis worsening as construction fails to keep up with demand, and PM Anthony Albanese signs off on a government-wide ban on the use of the social media app TikTok.
Politics
Australia to end the monarchy and King Charles as head of state
Australia’s new high commissioner to London Stephen Smith has warned that King Charles will ‘inevitably’ be axed as Australia’s head of state, Geo TV has reported. Diplomat Stephen Smith, who recently moved to the UK, has warned it is “inevitable” that Australia will abolish the monarchy and King Charles as head of state. Mr Smith’s Stephen Smith remarks came two months after the Australian central bank announced King Charles would not feature on the new $5 note.
Economy
Australia said lithium would match coal’s significance within five years
Australia sees its booming lithium sector matching thermal coal’s importance within five years as the world increasingly shifts from fossil fuels to clean energy, Fortune reported. Exports of the battery metal are seen at $19 billion in the year to June 2028, matching the record seen for the current financial year, according to government projections. Meanwhile, the value of power station coal shipments will drop 71 per cent in the period.
Business
Peugeot abolishes diesel SUVs in Australia
Peugeot Australia has axed its turbo-diesel SUV variants for 2023, meaning its entire passenger car and SUV ranges is now either petrol-powered or electrified, Car Expert has reported. The Peugeot 3008 GT Diesel and 5008 GT Diesel have both been discontinued for the 2023 model year, with the remaining stock able to be purchased from its dealer network. Peugeot Australia is now introducing its first electric vehicles, with two already confirmed to be arriving this year and another in the final stages of evaluation.
https://www.carexpert.com.au/car-news/peugeot-kills-diesel-suvs-in-australia
Property
Rental crisis to get worse as construction fails to keep up with demand
Australia’s rental crisis will get worse in the coming years due to a shortage in the supply of new houses and units caused by costs and ongoing constraints in construction, a report on the state of the nation’s housing for 2022-2023 revealed. The report stated that around 148,500 new dwellings are expected to come onto the market in 2022-2023, which will fall to 127,500 for net new construction in 2024-2025, with a recovery expected in the following year due to changing macroeconomic conditions and stronger underlying demand, The Guardian reported.
Social media
TikTok ban on government devices
PM Anthony Albanese has signed off on a government-wide ban on the use of the social media app TikTok following a review by the department of home affairs into the security risks of the Chinese-owned platform, The Australian has reported. The ban would apply to all government and departmental-issued devices operated by politicians and public servants in the wake of security concerns that it poses an espionage risk. However, a broader ban on the app in the private domain – as is being considered in the US – would not be applied.
I strongly believe that lithium waste will be worse than asbestos ever was.