Here is a look at what is making news around the country today.
Today’s national news includes cocaine cartels cashing in on sky-high prices, and the unemployment rate going up as the global economy slows. Also in the news: more affordable Honda hybrids are coming to Australia, Victoria to introduce the strongest gambling harm preventions, and South Australia to ban ‘no cause’ evictions.
Nation
Cocaine cartels cash in on sky-high prices
Astronomical cocaine prices have made Australia irresistible for the world’s most powerful drug cartels, groups with industrial-scale supply lines, nation-sized GDPs and arsenals of weapons. Australians pay among the highest prices in the world for cocaine, at $250 to $400 a gram – only two Gulf states with death penalties for drug crimes fetch slightly higher prices. National cocaine consumption peaked in 2019-20 at about 5.6 tonnes, according to wastewater analysis, the best measure of Australia’s drug habits, The Sydney Morning Herald reported.
Economy
Unemployment rate to go up as global economy slows
Australian Treasurer Jim Chalmers said on Sunday that he expected the nation’s jobless rate to lift from near a 48-year low on the back of higher interest rates and slowing global growth, Reuters has reported. The Reserve Bank of Australia (RBA) has said the jobless rate would need to rise to about 4.5 per cent—still well below pre-pandemic levels—to bring the economy back into balance. Unemployment was expected to lift “a bit as the economy slows as a consequence of higher interest rates and global economic uncertainty”, Mr Chalmers said.
Business
New affordable Honda hybrids are coming
Honda Australia confirmed it plans to expand its hybrid model range so it’s spread across more variants at lower price points in the coming years, Carexpert.com reported. That’s despite the fact it has just launched the new ZR-V midsize SUV with a flagship e:HEV LX hybrid model sitting $6400 higher than the equivalent VTi LX petrol. The company would also launch its new-generation CR-V with a high-spec hybrid. It is also eager to add more affordable hybrid options to its line-up, but the strategy is to launch with a highly-specified e:HEV hybrid variant first and follow it up with additional petrol-electric variants.
https://www.carexpert.com.au/car-news/more-affordable-honda-hybrids-are-coming-to-australia
Regions
Victoria to introduce strongest gambling harm preventions
Sweeping gaming reforms will be introduced in Victoria to reduce gambling harm caused by electronic gaming machines (EGMs). Premier Daniel Andrews and gaming minister Melissa Horne announced the changes today, which will include slower spin speeds and smaller spending limits. The new changes are expected to be rolled out by 2024. Under the reforms, all EGMs will also require mandatory pre-commitment limits and carded play. Gaming venues, except Crown Casino, will also be forced to close between 4 am and 10 am. It is hoped that these reforms would help the 330,000 Victorians who experience gambling harm every year, 9News has reported.
South Australia to ban ‘no cause’ evictions
Landlords who would evict tenants from their rentals in South Australia without cause under the government’s proposed rental reforms, Corowa Free Press reported. If they go ahead, landlords would only be able to end a periodic tenancy or not renew a fixed-term lease for a prescribed reason. Those reasons include any breaches by the tenant, wanting to sell, renovate or occupy the property. The SA Labor government also wants to increase the minimum notice to end a tenancy from 28 days to 60 days, so tenants will have more time to secure a new home and make the necessary arrangements to move. The reforms are being proposed in response to the state’s record low vacancy rate of less than one per cent. Housing insecurity was a real concern for many South Australian tenants who feared becoming homeless if their lease was terminated.
https://www.corowafreepress.com.au/national/no-cause-evictions-to-be-banned-in-south-australia-2/
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