Here is a look at what is making news around the country today.
Today’s national news includes Greens blaming the Albanese government for the housing crisis, Minister Watt defending government outlay amid inflation jitters, Australia and Indonesia boosting EV research and supply chain, South Korean pension funds turning to Australia due to dismal US returns, and Harvest Rock Music Festival show 2024 being canceled.
Nation
Greens say government housing policy is the root cause of the housing crisis
Greens Housing Spokesperson Max Chandler-Mather says migration is “not” the primary cause of Australia’s housing crisis, Sky News.com reported. “We disagree that migration is a primary cause of this housing crisis. Since the beginning of COVID-19, the number of new migrant households has been roughly half the number of new homes Australia has built. We’ve built more homes than migrants have come to this country over that period,” Mr Chandler-Mather said.
He said the Albanese government is to blame for not changing any of their “failed” housing policies when Clare O’Neil was recently appointed as Housing Minister. “I am deeply disappointed, and it demonstrates again that Labor hasn’t changed any of their failed policies on housing,” he said. “All they’ve done is they’ve decided to have a new salesperson.”
Economy
Minister Watt defends government outlay amid inflation jitters
Sky News has reported that Employment and Workplace Relations Minister Murray Watt has defended the government’s spending amid escalating concerns over inflation. “I think that all of the data that comes out demonstrates that that’s not the case. We are concerned about getting that balance right between bringing inflation down as we have done since taking office,” Mr Watt said. “Let’s remember that when we came to office, inflation was over six per cent. That’s the legacy left behind by the Coalition; it’s now under four per cent, and as a result of the work that we’ve done, but at the same time, we do need to make sure that we don’t crash the economy entirely.”
Business
Australia and Indonesia boost EV research and supply chain
Australia and Indonesia advanced their electric vehicle (EV) partnership during the first Senior Officials’ Meeting under the Electric Vehicle Collaboration Memorandum of Understanding (MoU) in Canberra, Jakarta Globe reported. The MoU sets a framework for collaboration on critical areas such as mapping EV supply chains, improving environmental and social governance, conducting joint scientific research, and fostering new business-to-business connections. The MoU aligns with a broader agreement between Australian Prime Minister Anthony Albanese and Indonesian President Joko Widodo to enhance cooperation in the EV ecosystem.
South Korean pension funds turn to Australia due to dismal US returns
South Korean pension funds and conglomerates could soon be spending more money in Australia after some of their US investments have generated unfavourable returns, prompting the Australian government to streamline processes for South Korean investors, ensuring quicker and more transparent approvals for investments in critical sectors. The aim is to encourage foreign investment, along with tax incentives, grants, and streamlined approval processes for major projects, The Australian reported.
Entertainment
Harvest Rock Music Festival show 2024 cancelled
In the latest blow for Aussie music lovers, the popular South Australian music festival Harvest Rock has announced the cancellation of its 2024 show, news.com.au has reported. The festival’s organisers said they had made the “difficult decision” to cancel the event this year but would work to keep it alive in the future. “Hey, Harvest Rockers and lovers of live music, wine, food, and brew, we’ve been working hard to make Harvest Rock III another incredible event. However, we have made the difficult decision to not hold the festival in 2024,” the statement reads. Tickets will be refunded.
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