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The Albanese government introduced its bill for the Environment Protection and Biodiversity Conservation Act to the House of Representatives.
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The shadow environment minister, Angie Bell, said it was “not our job to make a bad bill better” amid opposition to the changes. The Greens leader, Larissa Waters, said “you could drive a mining truck” through loopholes in the reforms.
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Anthony Albanese said a meeting between Donald Trump and Xi Jinping was a “positive development”.
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The treasurer, Jim Chalmers, ruled out any further economic policies until the budget next year in May.
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Barnaby Joyce denied allegations of a “verbal tirade” after a formal complaint by a Nationals staffer.
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Former Adelaide MP Kate Ellis was elected ALP national president.
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The energy minister, Chris Bowen, predicted lower electricity prices for consumers after wholesale prices fell nearly 40% from the previous quarter.
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Victoria’s voluntary assisted dying laws passed through the lower house with the state government forced to reply on support from One Nation.
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Prison guards across New South Wales declared a state-wide strike over the assault of four guards earlier this year.
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The environmental group Rising Tide painted a large message on the side of a coal ship in Newcastle reading “TAX ME”.
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Former federal member for Adelaide Kate Ellis has been elected as the national president of the Australian Labor party (ALP), to take over from departing president, Wayne Swan, next year.
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In a statement, the ALP said it had concluded its elections for national president and two vice-presidents, with the victorious Ellis to assume the lead role at the 50th ALP national conference in Adelaide in July 2026.
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Ellis served as the member for Adelaide for 15 years, from 2004 to 2019, and was a minister between 2007 and 2013. Since leaving parliament, she has led charities that work on early childhood development and reducing substance abuse.
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Kate will take over from Wayne Swan, who has stepped down after serving as ALP National President since 2018, ending a more than 30-year career in politics.
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In a statement, Ellis thanked Swan for his leadership and “ongoing friendship and support”.
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I am looking forward to directing my efforts towards ensuring that Labor remains strong, energised and focused on the challenges ahead.
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Rhiannyn Douglas, a high school teacher from Brisbane’s outer suburbs, has been elected as ALP national vice-president, alongside returning vice-president Mich-Elle Myers.
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Supermarket giant Woolworths lost customers because it was distracted by government inquiries, strikes and the loss of its chief executive, the company has told investors.
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Scott Perkins, Woolworths’ chair, said the board and management were unsatisfied with weak sales growth in the year to June but had hopes of a turnaround. Speaking at the company’s annual general meeting, Perkins said:
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n
We have put behind us a period where our teams were distracted by external factors including a raft of regulatory inquiries, industrial action and CEO succession …
n
We were significantly distracted by other exogenous events and the customer changed their purchasing patterns quite significantly during that period … [but now] customers are recognising the lower shelf price initiative.
n
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Woolworths in 2024 faced inquiries from the consumer regulator and parliament and is defending legal proceedings over allegations it misled shoppers with “illusory” discounts. Former chief executive, Brad Banducci, faced a series of confrontational public appearances and stepped down last year.
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The company yesterday reported its slow sales growth has continued since June. UBS analysts today said that suggested continued loss of customers to Coles, though they added Woolworths was making “pleasing” efforts to improve product range and prices and had made a “more frank admission of the problems”.
n Investors had further reason for optimism after Coles today reported supermarket sales had grown a touch slower than analysts expected, which saw the company lose about $900m in market value today and Woolworths add about $1.1bn.
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Up next on Afternoon Briefing is the Greens leader, Larissa Waters, who is asked about the party’s opposition to the bill for changes to the EPBC Act. Waters says:
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n
The bill as drafted is terrible. It’s great if you are Woodside or Chevron or BHP; it’s not a bill for nature. I am an environmental lawyer and I’ve had a close look at this and I’m horrified that rather than closing the loopholes that were already in this wet piece of legislation, this minister has created new loopholes that you could drive a mining truck, drive a logging truck through.
n
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Asked what it would take for the Greens to support the bill, she says:
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n
If [the environment minister, Murray Watt] can talk to us about laws that protect nature, that stop native forest logging, actually factoring that we are in a climate crisis and don’t fast-track gas, he knows that.
n
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Waters is also asked about the yelling and arguing back-and forth in today’s Senate question time, after the government lost control of the chamber yesterday. She says:
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n
I am the parent of small children so I know what a tantrum looks like. The government really could have responded to this in a more mature way and just been more transparent and just answered questions and just released documents.
n
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We’re now into the extra time section of Senate question time, and everyone is very tetchy.
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After the non-government senators yesterday teamed up to extend QT, in a bid to make a point about Labor’s failure to produce key documents, the government senators have been in a cranky mood (as have the Coalition politicians on the other side).
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We got through the normal question time session, from 2-3pm, without much drama – lots of yelling, back-and-forth, and some snippy comments. Getting past 3pm, we knew there would be five extra questions, with none going to the government.
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Labor’s strategy was clear from the start: while the Senate orders required them to face five extra questions, the order didn’t say how long they needed to hang around for. In the first few questions, Labor ministers gave only very brief answers, sitting down and finishing their response after only a few seconds.
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The Greens senator Mehreen Faruqi asked a question about a whale caught in shark nets. The environment minister, Murray Watt, in very curt answers, said he was pleased the Greens were interested in environmental reform, and suggested they back his EPBC reforms.
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Faruqi, after a second short answer, responded that it was “an example of what a farce this question time has become”. Watt, exploding and gesturing, responded: “it’s your doing”.
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A senator yelled out that Watt was “a failure at your job”, which they were asked to withdraw.
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“It’s all about politics for you Murray,” a Greens senator yelled out.
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As all this was going on, Tasmanian senator Tammy Terrell was waving and laughing at children in the public gallery, flashing shaka hand gestures at them.
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The government remains livid about losing control of the chamber yesterday and the non-government senators teaming up to extend question time, in a debate about transparency.
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As reported earlier, a revolt led by independent senator David Pocock, who is seeking the long-awaited release of a government reportm will see the Senate question time run much longer than usual for the foreseeable future.
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The government is considering retaliation by stripping Coalition senators of their committee roles.
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The Senate question time has begun, with more yelling and arguing back-and-forth across the chamber than usual.
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Nationals senator Bridget McKenzie accused prime minister Anthony Albanese – who is in South Korea – of “bullying this chamber”.
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Trade minister Don Farrell is leading the Senate in Penny Wong’s absence overseas, fielding most questions. He told the Coalition: “Maybe one of these days, you’ll be back into government and you’ll understand how important it is for the opposition to act in a responsible way”.
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Farrell referred to the parliamentary drama as “cheap tricks”.
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As another Coalition senator raised questions about whether they’d be stripped of their parliamentary positions, Labor minister Murray Watt called back across the chamber: “so it’s all about your pay?”
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Senate QT is likely to run until about 3.30pm today, much past its normal 3pm finish. The final sections will be interesting.
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senator David Pocock in the Senate chamber today”,”caption”:”Independent senator David Pocock in the Senate chamber today.”,”credit”:”Photograph: Mick Tsikas/AAP”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1761795567000,”blockCreatedOnDisplay”:”03.39 GMT”,”blockLastUpdated”:1761797374000,”blockLastUpdatedDisplay”:”04.09 GMT”,”blockFirstPublished”:1761795598000,”blockFirstPublishedDisplay”:”03.39 GMT”,”blockFirstPublishedDisplayNoTimezone”:”03.39″,”title”:”Fireworks threaten to erupt in the Senate in transparency debate”,”contributors”:[{“name”:”Josh Butler”,”imageUrl”:”https://i.guim.co.uk/img/uploads/2022/07/01/Josh_Butler.jpg?width=300&quality=85&auto=format&fit=max&s=f6e36ddc89d1442611e6b4fe726302d0″,”largeImageUrl”:”https://i.guim.co.uk/img/uploads/2022/07/01/Josh_Butler.png?width=300&quality=85&auto=format&fit=max&s=b99fc3ae31423d51324e5f82baea0af0″}],”primaryDateLine”:”Thu 30 Oct 2025 07.22 GMT”,”secondaryDateLine”:”First published on Wed 29 Oct 2025 19.26 GMT”},{“id”:”6902d9fe8f0860207cef105d”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
After yesterday’s inflation numbers, shadow treasurer Ted O’Brien takes a stab at the treasurer, saying “not unlike the stagflation from the 70s which people nowadays refer to as the “Jimflation effect”.
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Naturally, the Speaker, Milton Dick, does not like the use of “Jimflation”, and tells the chamber to have some respect.
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Jim Chalmers, who loves a bit of name calling himself, says O’Brien cuts a “comical almost cartoonish figure”, and attacks the Coalition’s economic record.
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n
When inflation was absolutely galloping in our economy, in 2022, 6.1% and rising fast, they were pouring more and more fuel on the flames. We know that now. That is an economic fact and that is their legacy.
n
This is why they have no economic credibility, especially with inflation, especially with employment and also when it comes to real wages.
n
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It’s the last question time for the week, and today we’re starting on housing.
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Opposition leader Sussan Ley asks acting PM Richard Marles about the government’s housing policy – the housing Australia future fund – which will be audited by the auditor general.
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The actual question is: “Why is it when Labor fails, Australians always pay the price?” – a similar line to what they used yesterday.
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Marles goes on the defence (pun intended) and lists the number of homes in the HAFF program that are in some of the opposition’s electorates.
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n
In the leader of the opposition’s own electorate, there are 54 homes in one area which are currently part of the first tranche of the housing Australia future fund’s project. In the member for Lindsay’s, there are 135 homes in Penrith being pursued. In the member for Moncrieff’s electorate, 213 homes are pursued.
n
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He then points out that the former Coalition government built just 313 social and affordable homes in their nine years in power.
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A formal complaint has been filed against Barnaby Joyce after media reports alleged he launched a “verbal tirade” against a female Nationals staffer on Wednesday.
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Joyce, a Nationals MP who could run as an independent or for One Nation at the next federal election, denied the allegations and said he respected the process now in train.
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Sky News reported on Thursday morning that Joyce had raised his voice at a staffer within Michelle Landry’s office shortly before question time yesterday. Joyce had reportedly visited the office to request leave for this morning to attend a funeral. He was asked to complete a leave form, which prompted Joyce’s alleged outburst.
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The female staffer filed the formal complaint today with the Parliament Workplace Support Service. The parliamentary HR body can offer support services to affected staff and management training courses to politicians but cannot punish MPs for their behaviour unless the complaint is also filed with the Independent Parliamentary Standards Commission.
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My colleague, Dan Jervis-Bardy is at the press club, and asks Watt whether the government will make it explicit in the legislation that projects approved in the national interest – that might not meet environmental standards – won’t include certain projects like fossil fuel projects.
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Watt says the legislation will give a “flavour” of the type of decisions that could be in the national interest.
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While he doesn’t indicate that the government itself would put that carve out forward, he says he’d listen if another party called for it.
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n
The decision we made was to set out the framework for how one of those national interests decisions could be made. As I say, to give a flavour of the types of decisions that pathway would attract. We haven’t gone about sort of saying what can’t happen.
n
I said we’re at an early stage of the debate and haven’t received amendments from anyone yet and I’m open to listening to all parties that think about what changes are needed.
n
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A little earlier Watt said any intervention by a minister to approve a project in the national interest would have to have “a really high bar”.
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Prisons across New South Wales will soon have barebones staff after corrective service officers declared a state-wide strike over the assault of four guards earlier this year.
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Officers have so far walked off the job at Cessnock prison, and at Bathurst prison, and officers at the remaining 36 prisons will soon follow suit.
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The Public Service Association has said the strike will also leave local, district and supreme courts “unable to function”.
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Stewart Little, the general secretary of the union, told Guardian Australia that the walk-off was over an inmate at Cessnock assaulting four prison officers earlier this year, leaving them all with serious facial injuries.
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The inmate went before a magistrate over the assault. He was found guilty but did not get any additional time added to his sentence. Little said:
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n
My phone has gone into meltdown, I’ve had prison officers ringing me all day absolutely incandescent with rage at the signal this magistrate has sent to the community.
n
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Little said the man has a history of violence and is now in an isolated cell.
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Asked how long he expects the strike to last, Little said: “I can’t see them going back to work today”.
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Little was also asked if he thinks the issue is symptomatic of any broader issues inside the state’s prisons. He told Guardian Australia that a number of the ballooning inmates inside for domestic violence offences were not getting “the wraparound services they need to deal with their violent behaviour”.
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He said this was specific to offenders that spend most of their time on remand or only serve a short sentence which can limit their access to rehabilitation programs.
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On to questions, Watt is asked about unacceptable impacts of a project, and what happens if a project could result in a species going extinct.
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Watt, at first, gives us the couple of extreme examples he’s so far used, like no mining under Uluru and no drilling of the Barrier Reef.
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But when pressed on whether there would ever be a project in the national interest that would result in an extinction, Watt says:
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n
Our government has a policy of zero new extinctions to begin with. My view is the way these laws would apply is that if a project is going to drive a species extinct, it will get a no. I reckon I’d be confident I’d be 99% support in the community for that.
n
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Regular readers of the blog will know yesterday parliament was discussing amendments to the income apportionment bill, which the government is trying to pass this week.
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A quick recap on that: the bill will give about 3 million people affected by the unlawful debt calculation method up to $600 in compensation.
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But the government, at the very last minute, have slipped in an amendment that would give the federal police minister the power to recommend the suspension or cancellation of a person’s Centrelink benefits before they are convicted.
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This would apply to a “serious violent or sexual offence” and only if an arrest warrant has been issued.
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Where has this come from?
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Well, the amendment stipulates “it is not appropriate that a person wanted for a serious offence, including a person who is evading arrest by the police, should be able to benefit from Government payments.”
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So, of course, there is a lot of speculation involving Dezi Freeman, and reports that he was on the disability support pension.
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Asked whether Albanese is concerned about commentary that the US won’t be able to deliver submarines to Australia under the Aukus partnership, the PM refers us to Trump’s comments last week.
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n
I think President Trump’s comments cannot have been clearer and they were very clear last week in the White House. They have been clear ever since President Trump has made very explicit his – not just support for AUKUS – but indeed the bringing forward of the timetable if that is possible.
n
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It’s not called summit season for nothing, because rolling around in just over a week is the Cop30 event in Brazil.
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Asked whether he’ll be attending – while Australia continues to bid to host next years’ climate summit – Albanese remains coy.
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n
I am sometimes amused about the contradictory messages from Australian media saying I should do more international travel but when I do say I should do less. So, look, we will work out our itinerary. Australia will be represented there. Parliament is sitting next week, this is the first full week of parliament I have missed in 30 years – almost – of representation.
n
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He reassured reporters the government does take COP “seriously”. When pushed on whether that answer was actually a “no”, he said “No, I clearly did not say that. We will work through those issues. We will make announcements at the appropriate time.”
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The social services minister, Tanya Plibersek, has announced a parliamentary inquiry into suicide stemming from domestic violence, following a report which called for a united approach to end the scourge.
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Plibersek said the inquiry was vital to understanding the full picture of domestic violence.
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She told parliament:
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n
Experts have told us that suicide risk for victims can be amplified through feelings of entrapment, fear of the perpetrator, and the cumulative effects of violence – both during and after a relationship.
n
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The Domestic, Family and Sexual Violence Commission report had 31 recommendations. It recommended developing a national response to the rise of online misogyny and radicalisation, while also speeding up the establishment of standards for the National Men’s Behaviour Change Program.
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- n
- n
In Australia, the crisis support service Lifeline is on 13 11 14 and the national family violence counselling service is on 1800 737 732. Other international helplines can be found via www.befrienders.org.
n
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Conservationist groups fear the federal government’s nature laws contain too many loopholes to properly protect the environment, with one warning there is “no point doing this half-arsed”.
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The heads of Greenpeace, the Australian Conservation Foundation (ACF) and World Wildlife Fund (WWF) held a press conference in parliament house before laws to re-write the Environment Protection and Biodiversity Conservation (EPBC) Act were introduced on Thursday morning.
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The green groups are concerned the legislation does not address exemptions for native forest logging and agriculture and won’t create new requirements for the minister to consider climate change when assessing projects.
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The acting chair of the ACF, Paul Sinclair, said:
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n
These laws need to be strengthened to end deforestation. As they stand, these laws have too many loopholes. They risk more bush being put under the bulldozer. This is the biggest test the Albanese government has faced. We call on the Prime Minister to pass that test, to work with the parliament to strengthen these laws and end deforestation.”
n
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The chief executive of Greenpeace, David Ritter, said:
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n
There is no point doing this half-arsed. The protection of our national environment requires that the loopholes that enable the bulldozers and the chainsaws to destroy our forests are closed, and requires climate considerations to be embedded.”
n
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The environmental group Rising Tide painted a large message on the side of a coal ship in Newcastle, NSW this morning: “TAX ME”.
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Rising Tide said the chalk-based missive is meant to be a call on the federal government to introduce a 78% fossil fuel export profits tax, with the funds generated used to back the community and industrial transition away from fuels such as coal.
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The coal ship targeted by the group is named Climate Justice. Alexa Stuart, a spokesperson for Rising Tide, said in a statement:
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n
It is laughable that a coal ship is called “Climate Justice” …
n
Real climate justice is about heeding the dire scientific warnings, and committing to an urgent and just transition for coal workers and communities. We’re demanding a 78% tax on coal export profits to do exactly that.
n
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morning in Muloobinba / Newcastle, members of Rising Tide painted “TAX ME” on a coal ship named Climate Justice.”,”caption”:”This morning in Muloobinba/Newcastle, members of Rising Tide painted ‘TAX ME’ on a coal ship named Climate Justice.”,”credit”:”Photograph: Rising Tide”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Despite major profits, coal companies regularly pay low rates of tax.
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Crossbench MPs also recently revived calls for a mining rent tax amid the country’s potential critical minerals boom. Independent MP David Pocock recently said Australia’s natural resources belong “to all of us, and if they’re going to be exploited, then we need to get a fair cut of that”.
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Tony Burke is introducing Labor’s bill for the Environment Protection and Biodiversity Conservation Act (EPBC) in the House now.
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The leader of the house starts by saying, “Labor is the party of the environment.”
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Why isn’t the environment minister, Murray Watt, introducing the bill? He’s a senator – and the bill is being introduced in the House – but Watt is sitting in the House while it’s introduced. Burke is a former environment minister himself.
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n
Our environment laws are broken. They’re not working for the environment, for business, for the economy or for the community. That was a clear assessment delivered by Prof Graeme Samuel when he handed down his independent review [EPBC] Act, a review that was delivered five years ago today.
n
This package of bills remains faithful to our commitment to follow the spirit of the Samuel review. In reforming this legislation, in crafting these reforms, we’ve looked into three pillars, firstly, stronger environmental protection and restoration … Secondly, more efficient and robust project assessments and approvals … and finally, greater accountability and transparency in decision making.
n
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Labor still hasn’t secured itself a path to pass this through the Senate.
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Burke in the House of Representatives at parliament house on Tuesday.”,”caption”:”Tony Burke in the House of Representatives at parliament house on Tuesday.”,”credit”:”Photograph: Lukas Coch/AAP”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1761780611000,”blockCreatedOnDisplay”:”23.30 GMT”,”blockLastUpdated”:1761783724000,”blockLastUpdatedDisplay”:”00.22 GMT”,”blockFirstPublished”:1761780927000,”blockFirstPublishedDisplay”:”23.35 GMT”,”blockFirstPublishedDisplayNoTimezone”:”23.35″,”title”:”Tony Burke introduces Labor’s nature bill”,”contributors”:[],”primaryDateLine”:”Thu 30 Oct 2025 07.22 GMT”,”secondaryDateLine”:”First published on Wed 29 Oct 2025 19.26 GMT”},{“id”:”69029f518f08358f328d3a24″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Looping back to James Paterson on Sky News a little earlier, the shadow finance minister warned that if current inflation trends persist, and unemployment keeps ticking up, Australia could face “stagflation”.
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We’re not there yet, he said, but he’s “not convince” the government can turn it around.
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Yesterday’s figures showed inflation jumped to 3.2% in the year to September, from 2.1% in June – just over the Reserve Bank’s target inflation range of 2-3%.
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The treasurer said yesterday that underlying inflation is still within that range, but Paterson was sceptical.
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n
“Still within the target range” is doing a lot of heavy lifting there. It’s at the top of the target range. It is at 3%. The RBA wants it to be at 2.5% …
n
And if these trends continue, then the annual rate of inflation will be closer to 4% than 3%. And we’ll have a really disastrous situation on our books … we also have increasing unemployment in this country. Unemployment is ticking up, and inflation is ticking up. Now, the last time that happened in a sustained way was in the 1970s. It created a phenomenon called stagflation, and that was utter economic misery for Australians. Now we’re not there yet, and I hope we don’t get there, but I’m not convinced that this government has a plan to turn that around.
n
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Independent senator David Pocock has the government on the back foot, pushing Labor to release a report it commissioned to look at “jobs for mates” appointments by politicians.
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Yesterday, Pocock – with the Coalition and the Greens – passed a vote to add five non-government questions to Senate question time until minister Katy Gallagher tables the report.
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And now – as we brought you a moment ago – the government is threatening to pull Coalition MPs from senior positions on House committees.
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This morning, the independent ACT senator was still extremely unimpressed with the government’s behaviour, telling journos:
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n
We’ve seen a flat-out refusal to release a document that they said would be released, that I think is really important and in the public interest.
n
You know, jobs for mates is a real problem in this place, and we’ve even seen that over the last couple of years … we’re ratcheting up the pressure until they release it.
n
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A major showdown in the Senate is looming and question time in parliament will be extended by a huge amount, after senator David Pocock led a revolt against government secrecy to punish Labor for sitting on a key report.
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In response, the government could retaliate by stripping Liberal MPs of their positions on parliamentary committees. The environment minister, Murray Watt, accused Pocock of a “dummy spit” and “upending decades of tradition”.
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Bear with us a moment to explain. Pocock has been seeking a report into government board appointments, which was submitted to the finance minister, Katy Gallagher, two years ago. Pocock, angry at the delay, sought to change the standing orders (or rules) in the Senate to add extra questions to the daily question time, giving the non-government senators more chance to ask questions.
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Gallagher said the report would be released “when that work is finished” but opposed Pocock’s actions, claiming senators were “abusing” Senate orders to seek “unreasonable” amounts of government documents. The Coalition and crossbench teamed up with Pocock to pass the motion, which will see the Senate question time extended by about half an hour.
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senator David Pocock.”,”caption”:”Independent senator David Pocock.”,”credit”:”Photograph: Mick Tsikas/AAP”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The government is livid about this. Guardian Australia understands that the government may seek to retaliate against the Coalition for supporting Pocock’s motion, which could include stripping Coalition members of deputy chair positions on committees.
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Liberals believe that threat is still live today. This could be a fast-moving situation with negotiations behind the scenes, so we’ll bring you updates as they happen.
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Watt, a senior minister in the Senate, said he hadn’t been involved in those discussions – having been focused on the environmental law package to be introduced today – but was scathing of Pocock’s move.
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n
What David Pocock did yesterday, with the support of the Coalition and the Greens, was upend decades of Senate tradition and procedure in a grab for power … David Pocock was always in here lecturing the rest of us about the importance of Senate tradition and Senate convention, and he’s just gone and chucked the toys out.
n
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After two days of debate, changes to Victoria’s voluntary assisted dying laws passed parliament last night.
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The amendments, which allow doctors to initiate conversations about voluntary assisted dying and expand the eligibility timeframe for all terminal illnesses to 12 months, passed 67 votes to 13.
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MPs were granted a conscience vote, with Labor MPs Anthony Carbines, Natalie Suleyman, Iwan Walters, Anthony Cianflone and Kathleen Matthews-Ward all voting against their own government’s bill.
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Liberal MPs Kim Wells, Brad Rowswell, Richard Riordan, David Hodgett, Michael O’Brien, Nicole Werner, Chris Crewther and Nationals MP Peter Walsh also voted against the bill.
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The bill will now head to the upper house, where Labor doesn’t have a majority but should be able to pass the bill with the support of a motley crew including One Nation and Liberal MPs. Here’s our story from yesterday:
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The shadow environment minister, Angie Bell, is doing the media rounds this morning, and sits in the “hot seat” – as she calls it – on RN Breakfast after Murray Watt.
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The Coalition says its chief concerns lie in the “wide-ranging powers” of the new environment protection body that will be set up, along with the fact that the head of the EPA will not report directly to the minister.
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n
It will be a statutory appointment that will not report directly to the minister. The minister won’t be able to sack that individual. It’ll have to be the governor general that does that. And so, that is a problem in terms of what that outcome might look like in terms of broad-sweeping powers, definitely.
n
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Bell said earlier this morning that Australians should be “alarmed” if Labor go to the Greens to pass this bill. So, host Sally Sara asks, how much the Coalition is willing to compromise in their negotiations to ensure Labor keeps talking to them? Bell says:
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n
Certainly it’s not our job to make a bad bill better but there are some areas that we have concerns on, and we’ll continue to put those areas forward as a problem.
n
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The Minns Labor government is trumpeting its new Investment Delivery Authority as a success story in getting more investment to NSW, announcing it has has received 48 major proposals worth $136bn in the first round of expressions of interest.
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The scheme, which is modelled on its Housing Delivery Authority, aims to provide a single point of entry for investors, and help navigating approvals, so projects can get started more quickly.
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In the first round 22 projects relate to renewable energy and energy security – valued at $63bn, while 23 projects relate to data centres and technology – valued at $72bn.
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To be eligible for the fast-track most projects must be valued at more than $1bn. However, the IDA is also helping with hotel projects over $200m. Three further applications – valued at $860m – were received.
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The level of interest will be spruiked by the premier Chris Minns at the Sydney Investment Summit at the Opera House this morning.
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Jim Chalmers says any further economic reforms will be delayed until the May budget, after he ruled out any new government policies in December’s mid-year fiscal update.
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The treasurer told assembled business figures at the Australian Chamber of Commerce and Industry’s gala dinner in parliament house last night that “this year’s Myefo will not be a mini-budget with lots of new initiatives”.
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n
The mid-year update will be precisely that – an opportunity to update forecasts and the fiscal position. The main game will be May.
n
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Chalmers is coming off a bruising backdown on key aspects of his $3m super policy, which will, if and when it is legislated, raise taxes on the top 0.5% of savers.’
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Jim Chalmers.”,”caption”:”Treasurer Jim Chalmers.”,”credit”:”Photograph: Mick Tsikas/AAP”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Sitting idle is definitely not part of Chalmers’ modus operandi, however, and he was keen to point out the many small steps in the right direction being taken since August’s economic reform roundtable.
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The commonwealth has “just signed off on the first set of state and territory reforms” that will be rewarded with incentive money from the government’s $900m productivity fund.
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They include the Northern Territory government promising “stop unnecessary objections to commercial developments” and the ACT looking at ways to remove barriers to prefabricated materials for use in home-building.
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“There’s been so much progress already on the directions set by the roundtable, and we’ll bring even more of it together in our fifth budget,” Chalmers said.
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It’s fair to say the Albanese government needs some good news on prices – especially energy prices – after yesterday’s inflation figures appeared to put paid to any prospect of a rate cut by the RBA next week.
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Our economics columnist, Greg Jericho, has been looking at the numbers and agrees with the consensus among forecasters that there’ll be no rate cut.
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However, he does find some reason for optimism on prices because the headline figure has been strongly affected by the end of household energy bill subsidies, and also because underlying increases in the cost of goods and services are not terrifyingly high.
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showing inflation in Australia from 2016-2025.”,”credit”:”Illustration: ABS”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Read his full piece here:
“,”elementId”:”e0a6c62f-c0f0-42b6-869c-2d343e1f8a4b”},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”So it’s goodbye to lower interest rates – to be honest, the RBA was always looking for an excuse not to cut”,”elementId”:”000cb319-f1d8-4417-a09c-8c949f2b4284″,”role”:”thumbnail”,”url”:”https://www.theguardian.com/business/grogonomics/2025/oct/29/so-its-goodbye-to-lower-interest-rates-to-be-honest-the-rba-was-always-looking-for-an-excuse-not-to-cut”}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1761765981000,”blockCreatedOnDisplay”:”19.26 GMT”,”blockLastUpdated”:1761768781000,”blockLastUpdatedDisplay”:”20.13 GMT”,”blockFirstPublished”:1761766166000,”blockFirstPublishedDisplay”:”19.29 GMT”,”blockFirstPublishedDisplayNoTimezone”:”19.29″,”title”:”The RBA was always looking for an excuse not to cut, writes Greg Jericho”,”contributors”:[{“name”:”Martin Farrer”,”imageUrl”:”https://i.guim.co.uk/img/uploads/2019/06/10/Martin_Farrer.jpg?width=300&quality=85&auto=format&fit=max&s=a491d63a001c65f468c602e5bbcb494a”,”largeImageUrl”:”https://i.guim.co.uk/img/uploads/2019/06/06/Martin_Farrer,_L.png?width=300&quality=85&auto=format&fit=max&s=f706e98cb1db7a0312c04c2836c71178″}],”primaryDateLine”:”Thu 30 Oct 2025 07.22 GMT”,”secondaryDateLine”:”First published on Wed 29 Oct 2025 19.26 GMT”},{“id”:”6901f68c8f082a2c2074bea1″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Chris Bowen has predicted lower electricity prices for consumers after wholesale electricity prices from July to September fell nearly 40% from the previous quarter.
“,”elementId”:”96f7a7f5-7a15-4b79-9b1c-4060aa6564df”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Rising renewable energy output slashed costs and sent records tumbling, according to data released today from the Australian Energy Market Operator (Aemo). Responding to the report, Bowen said:
“,”elementId”:”78cf3f79-4ea8-4417-af40-76e38a1c186a”},{“_type”:”model.dotcomrendering.pageElements.BlockquoteBlockElement”,”html”:”
n
The drop in wholesale price is good news – and should flow through to retail energy prices in the near term.
n
“,”elementId”:”430b78f9-954a-4f35-9a93-dc073609d233″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Queensland had the lowest average spot price at $72/MWh after prices fell to zero or lower more than a quarter of the time, which was a state record, Aemo’s quarterly energy dynamics report read.
“,”elementId”:”17b3fd57-f478-4724-bb38-a19eb0185ea4″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Record high wind power output, along with rising rooftop and grid-scale solar and a dip in coal-fired power output, saw renewables contribute 42.7% of the fuel mix, which was a September quarter record.
“,”elementId”:”3b8dc635-fe6b-4ffd-b5cf-acc22f9fa87e”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Renewables made up 77.2% of total energy generation across the national market for half an hour on 22 September, an all-time high, according to Aemo.
“,”elementId”:”ad607ec7-2a50-4a9e-b390-186fd175847b”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Underlying energy demand also hit a September quarter record, thanks to heating in the cold winter months, rising data centre consumption and increasing replacement of home appliances and vehicles with electric alternatives.
“,”elementId”:”84b2c382-64e8-4b9b-8f72-38f50015bf86″}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1761765981000,”blockCreatedOnDisplay”:”19.26 GMT”,”blockLastUpdated”:1761768528000,”blockLastUpdatedDisplay”:”20.08 GMT”,”blockFirstPublished”:1761766135000,”blockFirstPublishedDisplay”:”19.28 GMT”,”blockFirstPublishedDisplayNoTimezone”:”19.28″,”title”:”Bowen predicts lower electricity prices as wholesale costs fall”,”contributors”:[{“name”:”Luca Ittimani”,”imageUrl”:”https://i.guim.co.uk/img/uploads/2025/04/30/Luca_Ittimani.jpg?width=300&quality=85&auto=format&fit=max&s=d5a0ce308e8f38b7531e9b5e5f71dc21″,”largeImageUrl”:”https://i.guim.co.uk/img/uploads/2025/04/30/Luca_Ittimani.png?width=300&quality=85&auto=format&fit=max&s=b269ad3cfa5a0e929b1c0afc69304369″}],”primaryDateLine”:”Thu 30 Oct 2025 07.22 GMT”,”secondaryDateLine”:”First published on Wed 29 Oct 2025 19.26 GMT”},{“id”:”69021dc38f082aa93a7eb537″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
More now on Anthony Albanese and Donald Trump’s dinner on the Apec sidelines in Gyeongju last night.
“,”elementId”:”e2fc4c5a-2579-43ef-8213-65ba28779ae7″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The US president told reporters that the pair “had a great meeting a week ago”, the ABC reports, referring to their Washington meeting.
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Trump continued:
“,”elementId”:”99bfa37d-2d17-430a-a4e1-aed573987824″},{“_type”:”model.dotcomrendering.pageElements.BlockquoteBlockElement”,”html”:”
n
You’ve done a fantastic job and we’re working together on rare earths, but we’re working on a lot of things together, and it’s all working out very well.
n
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with Singapore’s prime minister, Lawrence Wong, Donald Trump, and South Korean president, Lee Jae Myung in Gyeongju, South Korea.”,”caption”:”Albanese with Singapore’s prime minister, Lawrence Wong, Donald Trump, and South Korean president, Lee Jae Myung in Gyeongju, South Korea.”,”credit”:”Photograph: Mark Schiefelbein/AP”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The main event of the summit was Trump negotiating a trade deal with South Korea, but it was also a chance for Albanese to continue the diplomatic whirlwind of recent weeks that has seen him travel to the US (twice), UK, UAE, Malaysia and now South Korea.
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I’m working with leaders from across the globe to get things done for Australia.
Here at APEC we have a seat at the table – and we use it to back Australian jobs, Australian businesses and to create new opportunities for our exporters and investors.
Because what happens in the… pic.twitter.com/a6mSReiPoE
— Anthony Albanese (@AlboMP) October 29, 2025
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Writing on X, Albanese said:
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n
I’m working with leaders from across the globe to get things done for Australia.
n
Here at APEC we have a seat at the table – and we use it to back Australian jobs, Australian businesses and to create new opportunities for our exporters and investors.
n
Because what happens in the world matters to Australia. Thank you for the warm welcome to South Korea, President Lee Jae Myung.
n
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Good morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Krishani Dhanji with the main action.
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After waiting what seemed like a long time to meet Donald Trump, Anthony Albanese has done so twice in the space of 10 days as he followed up his trip to Washington last week by sitting next to the US president at the Asia-Pacific Economic Cooperation (Apec) summit dinner in Gyeongju, South Korea, last night.
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Yesterday’s inflation figures came as a blow to the federal government’s efforts to rebalance the economy but today the energy minister, Chris Bowen, is trying to tell a more upbeat story as he promises that households will see lower electricity prices in the “near term”. It follows a steep fall in wholesale electricity prices in the quarter to September, helped by more renewable power coming into the system.
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More soon.
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Key events
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What we learned: Thursday, 30 October

Penry Buckley
We will be leaving it there, thanks for joining us. Here’s what we covered today:
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The Albanese government introduced its bill for the Environment Protection and Biodiversity Conservation Act to the House of Representatives.
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The shadow environment minister, Angie Bell, said it was “not our job to make a bad bill better” amid opposition to the changes. The Greens leader, Larissa Waters, said “you could drive a mining truck” through loopholes in the reforms.
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Anthony Albanese said a meeting between Donald Trump and Xi Jinping was a “positive development”.
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The treasurer, Jim Chalmers, ruled out any further economic policies until the budget next year in May.
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Barnaby Joyce denied allegations of a “verbal tirade” after a formal complaint by a Nationals staffer.
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Former Adelaide MP Kate Ellis was elected ALP national president.
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The energy minister, Chris Bowen, predicted lower electricity prices for consumers after wholesale prices fell nearly 40% from the previous quarter.
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Victoria’s voluntary assisted dying laws passed through the lower house with the state government forced to reply on support from One Nation.
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Prison guards across New South Wales declared a state-wide strike over the assault of four guards earlier this year.
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The environmental group Rising Tide painted a large message on the side of a coal ship in Newcastle reading “TAX ME”.

Andrew Messenger
Controversial former Townsville mayor Troy Thompson referred to Queensland corruption commission again
Controversial former Townsville mayor Troy Thompson has been referred to Queensland’s Crime and Corruption Commission (CCC) a second time.
Mark Furner referred Thompson to the commission this morning, alleging he revealed confidential proceedings from the parliamentary crime and corruption committee, which oversees the commission.
He announced the decision and tabled the referral in parliament.
Thompson was referred to the CCC last year, including for claims he allegedly misled the electorate at the 2024 local government election.
CCC chairperson Bruce Barbour told parliament at the time that there was no impediment to him running again; Thompson has since announced as a candidate for mayor. The report has yet to be made public pursuant to CCC rules.
Former Adelaide MP Kate Ellis elected ALP national president
Former federal member for Adelaide Kate Ellis has been elected as the national president of the Australian Labor party (ALP), to take over from departing president, Wayne Swan, next year.
In a statement, the ALP said it had concluded its elections for national president and two vice-presidents, with the victorious Ellis to assume the lead role at the 50th ALP national conference in Adelaide in July 2026.
Ellis served as the member for Adelaide for 15 years, from 2004 to 2019, and was a minister between 2007 and 2013. Since leaving parliament, she has led charities that work on early childhood development and reducing substance abuse.
Kate will take over from Wayne Swan, who has stepped down after serving as ALP National President since 2018, ending a more than 30-year career in politics.
In a statement, Ellis thanked Swan for his leadership and “ongoing friendship and support”.
I am looking forward to directing my efforts towards ensuring that Labor remains strong, energised and focused on the challenges ahead.
Rhiannyn Douglas, a high school teacher from Brisbane’s outer suburbs, has been elected as ALP national vice-president, alongside returning vice-president Mich-Elle Myers.
Woolworths blames government inquiries for loss of customers

Luca Ittimani
Supermarket giant Woolworths lost customers because it was distracted by government inquiries, strikes and the loss of its chief executive, the company has told investors.

Scott Perkins, Woolworths’ chair, said the board and management were unsatisfied with weak sales growth in the year to June but had hopes of a turnaround. Speaking at the company’s annual general meeting, Perkins said:
We have put behind us a period where our teams were distracted by external factors including a raft of regulatory inquiries, industrial action and CEO succession …
We were significantly distracted by other exogenous events and the customer changed their purchasing patterns quite significantly during that period … [but now] customers are recognising the lower shelf price initiative.
Woolworths in 2024 faced inquiries from the consumer regulator and parliament and is defending legal proceedings over allegations it misled shoppers with “illusory” discounts. Former chief executive, Brad Banducci, faced a series of confrontational public appearances and stepped down last year.
The company yesterday reported its slow sales growth has continued since June. UBS analysts today said that suggested continued loss of customers to Coles, though they added Woolworths was making “pleasing” efforts to improve product range and prices and had made a “more frank admission of the problems”.
Investors had further reason for optimism after Coles today reported supermarket sales had grown a touch slower than analysts expected, which saw the company lose about $900m in market value today and Woolworths add about $1.1bn.
Minister says US-China rare earths deal a ‘good day for Australia’
The assistant minister for citizenship and multicultural affairs, Julian Hill, has been asked if the government is concerned by about Donald Trump’s nuclear testing announcement. He says:
I think you would not be surprised to know that I’m not going to react to every social media post from president Trump. Some of them come true, some drift off and evolve. We support a range of international treaties and a longstanding goal from the 80s and 90s and thereafter to curb the use and move towards a world without nuclear weapons. That is a good thing and that is what Australians overwhelmingly want.
But Hill welcomes Trump’s announcement of a rare earths deal with China, which follows Australia’s own framework agreement with the US during the prime minister’s Washington DC visit. He says:
It is in the interest of our business community and our economy. Australia benefits. We are a global trading nation that would benefit from stable, predictable rules and continue to advocate that we think tariffs are economic self-harm. The escalating trade tensions between the US and China and a number of countries in the world have not been good for our economy. They pose risks. Any development that we see those and leads to some kind of resolution is absolutely a good day for Australia.
Larissa Waters says ‘you could drive a mining truck’ through EPBC reforms
Up next on Afternoon Briefing is the Greens leader, Larissa Waters, who is asked about the party’s opposition to the bill for changes to the EPBC Act. Waters says:
The bill as drafted is terrible. It’s great if you are Woodside or Chevron or BHP; it’s not a bill for nature. I am an environmental lawyer and I’ve had a close look at this and I’m horrified that rather than closing the loopholes that were already in this wet piece of legislation, this minister has created new loopholes that you could drive a mining truck, drive a logging truck through.
Asked what it would take for the Greens to support the bill, she says:
If [the environment minister, Murray Watt] can talk to us about laws that protect nature, that stop native forest logging, actually factoring that we are in a climate crisis and don’t fast-track gas, he knows that.
Waters is also asked about the yelling and arguing back-and forth in today’s Senate question time, after the government lost control of the chamber yesterday. She says:
I am the parent of small children so I know what a tantrum looks like. The government really could have responded to this in a more mature way and just been more transparent and just answered questions and just released documents.
Ley ‘right to call out’ PM’s Joy Division T-shirt, says shadow home affairs minister
Duniam’s interview does not finish without the shadow home affairs minister being asked to weigh in on the opposition leader, Sussan Ley, calling out the prime minister’s Joy Division T-shirt.
Duniam, who says his favourite bands include the Bangles and Bananarama, says he support’s Ley’s decision, as well as her leadership.
As my colleague Julian Leeser said, it was right to call it out. The PM can speak for himself and justify his choice of attire. There are connotations and links to that particular band. I was not familiar with them myself. It pre-dates me. But look, as Julian Leeser himself has said, it’s something he deemed inappropriate and I take what he says very seriously.
‘Democracy has been set on fire’: shadow minister on Senate drama
Duniam goes on to welcome the announcement by Trump that a rare earths deal and tariff reductions have been agreed with the Chinese president, Xi Jinping.
Next, he is asked about today’s Senate shenanigans. As we reported earlier, Today’s Senate question time began with more yelling and arguing back-and-forth across the chamber than usual.
The government lost control of the chamber yesterday after the non-government senators teamed up to extend question time in a debate about transparency.
Duniam says:
Democracy has been set on fire. There is a real problem with this government. It takes a lot to unite every non-government senator to vote together against the government to get specific outcomes … We had to take the action of extending question time by another five questions. So angry is the Government about that, they are pulling stunts now. They do not like the senate flexing its muscles, but this is democracy at work.
Coalition has concerns about Trump nuclear testing announcement
Duniam is also asked about Donald Trump’s instruction to the Pentagon to immediately match other nuclear powers in their testing of nuclear weapons. He says:
Look, I think we have to respect the sovereignty of other nations, but when it comes to nuclear weapons, of course, as a nation that believes we should disarm and not have the proliferation of nuclear weapons, there are concerns. I want to see the detail of any agreement to this. They are an ally and we do have them as a trusted partner and I want to make sure it is in our interest whatever they’re doing and there are appropriate safeguards for any tests.
Shadow home affairs minister says EPBC tabling a ‘galling request’
The shadow home affairs minister, Jonathon Duniam, is being interviewed on the ABC’s Afternoon Briefing.

Duniam, who was shadow environment minister until May, has been asked about Labor’s introduction of its bill for changes to the Environment Protection and Biodiversity Conservation Act (EPBC), which faces an uphill battle after the Coalition and the Greens ruled out supporting it in its current form.
He says:
It is quite a galling request from this minister to table this today, 700 pages of legislation, of explanatory memoranda, and say pass it now.
Ahead of a scheduled meeting by the Coalition to debate net zero on Friday, Duniam says:
I’m not a fan of net zero at any cost. We have to make sure whatever policy we take, and that is a matter for our entire party room, I will not preempt that, but we need to get it right.

Krishani Dhanji
Thank you all for following along on the blog with me!
I’ll hand you over to the lovely Penry Buckley for the rest of the arvo. I’ll see you back here for another fiery sitting week on Monday.
Tl;dr here’s what happened in question time
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In the house, for a final QT of the week, all was a bit subdued today (and I’ll be honest, a little boring).
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The Coalition started on housing, and then went to a range of issues including inflation, or ‘Jimflation’ as Ted O’Brien called it.
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Independent MP Sophie Scamps pushed the government on when it would release a report into “jobs for mates” government board appointments – which David Pocock has been driving in the Senate, but Labor gave little clarity.
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Independent Rebekha Sharkie got two questions this week, and asked the aged care minister again about the cost of home care packages.
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Meanwhile in the Senate, with the extra half hour of question time for non-government question, things were a more explosive (read: shouty) as everyone got a little tetchy.

Luca Ittimani
‘A lot of work’ went into ‘first-class’ US-Australia relationship, Rudd says
Kevin Rudd says Australia’s “first-class” relationship with the US has been the product of “a lot of work and a lot of prime ministerial time,” reflecting on Anthony Albanese’s visit to Washington DC.

Rudd, Australia’s US ambassador, said Albanese had begun building a new “pillar” of the two nations’ relationship by securing a critical minerals deal last week and had “renewed afresh” their military relationship with Aukus. Speaking at the Sydney Investment Summit, he said:
Australia, you’ve seen with the PMs recent engagements with president Trump, is enjoying a first-class working relationship with the Trump administration, and that has been a product of a lot of work and a lot of prime ministerial and ministerial time, and you’ve seen some of the practical fruit of that, from what the PM agreed to in recent days.
Rudd added the Albanese government deserved “full marks” for building ties with China.
The prime minister has also been at pains to stabilise the Australia-China relationship … through the actions of the PM and through the actions of the foreign minister [and] trade minister, we have reached a relatively stable set of arrangements.
Rudd also praised the state governments in the US for enabling growing investment from Australian super funds and cheered the growth of Australian businesses working on artificial intelligence, which his embassy in Washington estimates has risen to about 1,500.
Tensions rise in extended Senate question time as Watt gives short responses to extra questions

Josh Butler
We’re now into the extra time section of Senate question time, and everyone is very tetchy.
After the non-government senators yesterday teamed up to extend QT, in a bid to make a point about Labor’s failure to produce key documents, the government senators have been in a cranky mood (as have the Coalition politicians on the other side).
We got through the normal question time session, from 2-3pm, without much drama – lots of yelling, back-and-forth, and some snippy comments. Getting past 3pm, we knew there would be five extra questions, with none going to the government.
Labor’s strategy was clear from the start: while the Senate orders required them to face five extra questions, the order didn’t say how long they needed to hang around for. In the first few questions, Labor ministers gave only very brief answers, sitting down and finishing their response after only a few seconds.
The Greens senator Mehreen Faruqi asked a question about a whale caught in shark nets. The environment minister, Murray Watt, in very curt answers, said he was pleased the Greens were interested in environmental reform, and suggested they back his EPBC reforms.
Faruqi, after a second short answer, responded that it was “an example of what a farce this question time has become”. Watt, exploding and gesturing, responded: “it’s your doing”.
A senator yelled out that Watt was “a failure at your job”, which they were asked to withdraw.
“It’s all about politics for you Murray,” a Greens senator yelled out.
As all this was going on, Tasmanian senator Tammy Terrell was waving and laughing at children in the public gallery, flashing shaka hand gestures at them.
Mark Butler gets the final dixer again where he whips out a medicare card – which gets the opposition benches roaring, and Nationals deputy leader, Kevin Hogan, booted out of the chamber.
About 30 seconds after the expulsion, question time ends for the week.
Bowen takes aim at oppositions ‘vision’ for Australian critical minerals
The opposition turns the spotlight back to Chris Bowen and the impact of energy prices on industry. Liberal MP Melissa Durack says the CEO of the chamber of minerals and energy of WA warns electricity costs are on, “an unsustainable trajectory preventing expansion activities in a region that is experiencing booming interest in both gold and critical minerals.”
Bowen spruiks the governments policies on critical minerals and green energy, and then (to no one’s surprise) takes the opportunity to have a whack at the opposition.
We want to see more of those minerals exploited and more value added in Australia and minerals processed in Australia. That’s our vision. Your vision is stuck … about whether climate change is real and whether humankind has anything to do with it.
Chalmers asked about government efforts to reduce regulatory complexity
Back to the crossbench Independent MP Allegra Spender asks how the government will cut red tape, and if the treasurer will set targets to reduce regulatory complexity.
Jim Chalmers says the government is considering targets and will work with the productivity commission to see if targets are “appropriate”.
He said that since the roundtable the government has slashed some nuisance tariffs and asked the board of tax to reduce complexity in the tax system.
I think the government recognises, the member recognises, participants at the roundtable recognise as well, that we have some work for you to wind back some of this complexity and wind back some of this red tape.
Assistant treasurer says super fund collapses ‘distressing for many people’
Changing tack again, Nationals MP Pat Conaghan asks the government how many times it’s ignored warnings from treasury and Asic to regulate the superannuation industry, after the recent collapse of the Shield and First Guardian funds.
Assistant treasurer Daniel Mulino says the collapses have been “distressing for many people lost considerable amount of funds”.
I have met with victims of these collapses and I’ve heard first hand harrowing stories and I understand how difficult this has been. Can I stress that the focus of ASIC over recent months has been to protect investor funds and it has undertaken a range of actions to do so.
Conaghan makes a point of order, to get Mulino to answer the question of how many times it “ignored warnings” from the department and Asic.
Mulino says he received briefings from Treasury, Apra and Asic.
I haven’t ignored any warnings. When I was notified of this matter earlier this year I very quickly sought briefing from my department in relation to the matter. I wrote to APRA and received briefings in relation to what further actions might be needed in relation to platforms. I have been working constructively on that matter.



