Here is a look at what is making news around the country today.
Today’s national news includes the Labor government pledging $14.6 billion in the budget to ease the cost of living, thousands rallying against a potential submarine base in eastern Australia, government to change its Petroleum Resource Rent Tax to increase the tax paid by the offshore LNG industry, and Miss Universe Australia finalist Sienna Weir dying after taking a fall from her horse.
Economy
The Labour government pledges $14.6 billion in the budget to ease the cost of living
Australia’s centre-left Labor government would include $14.6 billion over four years in the federal budget for cost-of-living relief for families and businesses, which it promised would not stoke inflation. The plan is designed to directly ease price pressures and inflation, the federal government said, which has eased in the first quarter but still sits near 30-year highs of 7.0 per cent. The government is set to unveil in the budget financial assistance for more than 5 million low-income families, small businesses and pensioners struggling with high power bills, Reuters has reported.
https://www.reuters.com/world/australian-govt-pledges-10-bln-budget-ease-cost-living-2023-05-07/
Defence
Thousands rally against the potential submarine base
Thousands of people rallied against a future nuclear-powered submarine base at Port Kembla in eastern Australia as part of the $368 billion AUKUS defence pact with the United States and Britain, Reuters reported. The second-largest coal export port in New South Wales state is the Defence Department’s preferred site for a new east-coast submarine base. Protesters marched down the town’s main street in this community of about 5,000 people 102 kilometres south of Sydney to express their opposition to the base.
Business
Government to change petroleum tax
Australia will change its Petroleum Resource Rent Tax (PRRT) to increase the tax paid by the offshore LNG industry, moves that should increase revenue by $2.4 billion over the next four fiscal years. The government will adopt eight of 11 recommendations from a Treasury review of gas transfer pricing rules, including a key proposal to limit the proportion of PRRT assessable income on LNG projects that can be offset by deductions to 90 per cent from July 1, Reuters reported.
Society
Miss Universe Australia finalist dead at 23
Sienna Weir, a 2022 Miss Universe Australia finalist, died last Thursday after taking a fall from her horse, People has reported. The model was reportedly riding at Windsor Polo Grounds on April 2 when her horse took a fall. Weir was on life support at Sydney’s Westmead Hospital after facing “fatal injuries” during the horse-riding accident. Her agency, Scoop Management, confirmed the news of her passing by sharing an Instagram video filled with modelling pictures of Weir with the caption, “Forever in our hearts.”
https://people.com/human-interest/miss-universe-australia-finalist-sienna-weir-dead-at-23/
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