Here is a look at what is making news around the country today.
Today’s national news includes the high cost of living could affect election chances for the Albanese government, increasing interest rates to hurt Labor at the next election, median mortgages hitting a new high, Royal Australian Navy receiving Austal’s 7th Cape-class patrol boat, and landmark deal for Northern Territory public school teachers struck.
Politics
Living costs are now a significant concern for the Albanese government
Former Howard government minister Peter McGauran says the government’s got its “back to the wall” on the cost of living issue, Sky News reported. “There’s not enough tackling of inflation and cost of living pressures for people to vote again with confidence,” he said. Mr McGauran’s remarks come after it was revealed by the Australian Bureau of Statistics that over the last 12 months, inflation rose to 3.8 per cent from 3.6 per cent.
Increasing interest rates will hurt Labor at the next election
Sky News reported that former Howard government minister Peter McGauran said the next federal election will be fought on the cost of living more than any other issue as Australians continue to struggle. “If interest rates increase anywhere near the period leading up to the federal election, the Labor Party will suffer,” he said. “If the Labor Party’s not entirely focused on this issue of easing the household and business pressures, then it should be so.”
Defence
Royal Australian Navy receives Austal’s 7th Cape-class patrol boat
Austal Australia has delivered the seventh Evolved Cape-class Patrol Boat, ADV Cape Solander, to the Royal Australian Navy, Naval News has reported. Cape Solander was the first of two Evolved Cape-class Patrol Boats scheduled for delivery to the Royal Australian Navy in CY2024. The Evolved Capes feature new, more extensive amenities to accommodate up to 32 people, improved quality of life systems, and advanced sustainment intelligence systems that further enhance the Royal Australian Navy’s ability to fight and win at sea.
Business
Median mortgages hit a new high
The country’s average mortgage has reached a record high after increasing $154 daily. According to new figures from the Australian Bureau of Statistics, Australia’s average mortgage is almost $637,000, a ten per cent yearly increase. The biggest home loans are in New South Wales and Victoria at $780,000 and $604,000 respectively. The increase nationally is mainly due to increased lending in Queensland, South Australia, and Western Australia, Sky News reported.
Regions
Landmark deal for Northern Territory public school teachers
Today, the Australian Education Union NT has agreed in principle to a new enterprise agreement that will deliver a salary increase of about 13 per cent over the next three years, with all classroom teachers moving up an increment point. The new agreement will provide more investment in Territory teachers so they can continue their work to get Territory students ready to enter the workforce. It will also address turnover issues to attract and secure more experienced teachers in the Territory for the long term.
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