Author: admin

Appeal to locate man wanted on an outstanding warrant – Newcastle

Police are appealing for public assistance to locate a man wanted by virtue of an outstanding warrant in Newcastle.

William Rex Morris, also known as Craig Byers, aged 40, is wanted on an outstanding warrant for alleged domestic violence offences.

Officers attached to Newcastle City Police District are conducting inquiries into his whereabouts.

William is described as being of Aboriginal/Torres Strait Islander appearance, thin build, about 170cm tall, black hair with a beard and moustache.

He was last seen wearing a black hooded jumper with a large logo on the front and dark coloured tracksuit pants.

He is known to frequent the Wyong, Swansea, Glendale, Merewether and Bar Beach areas.

Anyone who sees him is urged not to approach him but to call Triple Zero (000) immediately.

Anyone with information into his whereabouts is urged to contact Newcastle Police or Crime Stoppers on 1800 333 000.

Nauru-Australia Treaty

Prime Minister Anthony Albanese and President of Nauru, His Excellency David Waiau Ranibok Adeang MP, today signed the Nauru-Australia Treaty in Canberra.

The Nauru-Australia Treaty builds on the deep foundations of Australia and Nauru’s bilateral relationship, and will help secure Nauru’s long-term economic resilience and security.

Through the treaty, Australia will ensure Nauruans have ongoing access to vital banking services and to the international financial system. The Commonwealth Bank of Australia will provide banking services in Nauru, including a physical presence, following the departure of Bendigo Bank next year.

As Nauru’s largest economic, security and development partner, Australia will also provide the Nauru Government with fiscal certainty to invest in its future. Australia will provide $100 million in budget support over five years, to support Nauru’s long-term investments for the well-being of its people.

Recognising that our security is best assured by working together, under the treaty, Nauru and Australia have committed to mutually agree to any engagement in Nauru’s security, banking and telecommunications sectors, and to consult on any engagement in other critical infrastructure. Nauru has also committed that third party engagement in critical infrastructure will not be used for security purposes.

In recognition of our shared responsibility for security in the Pacific, Australia will provide $40 million over five years to support Nauru’s policing and security, including through support for recruitment, training and infrastructure.

The Nauru-Australia Treaty will enter into force as soon as possible in 2025, following domestic treaty-making processes in both countries.

The Nauru-Australia Treaty and joint leaders’ statement is available on the Department of Foreign Affairs and Trade website.

Greens launch action plan to protect the Great Barrier Reef

The Greens’ election plan to protect our iconic Great Barrier Reef would dedicate over $4 billion in new funding to protect this World Heritage icon and mega-employer. The Greens call to ban new coal and gas will save the Reef from its biggest threat, the climate crisis.

Greens Senator for Queensland, Larissa Waters:

“New coal mines have been approved like confetti by both Labor and Liberal federal governments, despite climate being the biggest threat to the Reef and the 60,000 people whose livelihood depends on it.1

“Just weeks ago, the Australian Institute of Marine Science confirmed that parts of the Great Barrier Reef have experienced its worst coral loss in 39 years. We know that with over 2 degrees of global warming, we will lose 99% of the coral cover of the Reef – and we are on track to exceed that temperature without a rapid transition to clean energy.

“Only strong political action on the climate crisis can secure a future for the Great Barrier Reef, and that’s why the Greens, backed by scientists, continue to say no new coal and gas.

“We also need to improve catchment health, and that means working with farmers to reduce run-off which also saves them money. The Greens would allocate $2 billion to improve water quality to meet the 2050 Water Quality Improvement Plan goals, incentivising farmers to use more sustainable land management practices and get us on track to meet 2025 and subsequent water quality targets.

“The Greens would commit $1 billion to 2030 towards implementation and progression of the recommendations of the 2022 Joint World Heritage Centre/IUCN Reactive Monitoring Mission to the Great Barrier Reef.

“The Reef also needs a strong protector, so this announcement would see the Great Barrier Reef Marine Park Authority’s funding increase by $270 million over 9 years with greater independence and stronger powers.

“The Great Barrier Reef is a biodiverse wonderland supporting countless miraculous species, and providing a livelihood for 60,000 Queenslanders. The Greens will always fight to protect it.”

Greens spokesperson for healthy oceans, Senator Peter Whish-Wilson:

“The Great Barrier Reef as we have been lucky enough to know it in our lifetime is fighting for survival due to extreme ocean warming from the burning of fossil fuels.

“In order to give the Great Barrier Reef the best chance of recovery we must be crystal clear about the magnitude of what needs to be done, and pull out all stops and make this global wonder as resilient as possible.

“That’s why in addition to major investment, the Greens are pushing for the ongoing destruction, caused by repeated marine heatwaves on the Great Barrier Reef, to be declared a national emergency.

“If a bushfire had burned for thousands of kilometres along the east coast of Australia, annihilated World Heritage habitat, decimated wildlife and impacted communities and the economy, a national emergency declaration would have already occurred.

“Marine heatwaves shouldn’t be treated differently to other extreme weather events simply because their terrible impacts are underwater – the devastation that continues to unfold on the Great Barrier Reef more than meets the criteria for a national emergency. The Albanese Government is kidding itself if it denies it.

“Governments can’t continue to throw cash at monitoring the Great Barrier Reef to its death. We are in a climate and environmental crisis and things need to be done differently – but if you want change, you have to vote for it.”

The Greens will:

  • Take the climate action needed to protect the Great Barrier Reef by ending new coal and gas
  • Commit $4.17bn in additional funding to protect the Great Barrier Reef, including:
    • Fund $2 billion to prioritise the delivery of the 2050 Water Quality Improvement Plan and regional Water Quality Improvement Plans. This funding will be front-loaded with $250 million to urgently prioritise initiatives to fully meet the 2025 water quality targets;
    • Commit $1 billion to 2030 towards implementation and progression of the recommendations of the 2022 Joint World Heritage Centre/IUCN Reactive Monitoring Mission to the Great Barrier Reef, in addition to other Great Barrier Reef spending already committed. This would include Federal funding to compensate operators of the Queensland Coral Fishery (QCF) who currently hold licences to harvest coral within or adjacent to the Great Barrier Reef Marine Park;
    • Allocate $150 million over 5 years to establish a research and innovation fund to determine protected species population estimates; bycatch reduction devices; and research protected species resilience to climatic and environmental changes;
    • Invest an additional $750 million in a Land Restoration Fund;
    • Provide the Great Barrier Reef Marine Park Authority with $270 million over 9 years to support delivery of greater independence and stronger powers, including to regulate coastal development.

Community use of coastal buildings in focus to aid future planning

City of Newcastle is leading the way in coastal infrastructure planning by kicking off consultation with the community on its Coastal Buildings Revitalisation Plan, the first of its kind in the state.

The Plan will incorporate a range of structures along the various coastline precincts from Stockton to the Merewether Ocean Baths Pavilion, and include lifeguard facilities, surf club pavilions and clubhouses, beach kiosks, shade shelters and amenities, as well as seawalls. 

It will be guided by Newcastle’s Coastal Management Programs and input from the local community, alongside a comprehensive review of existing facilities, as part of a strategic effort to enhance and maintain the city’s iconic coastal assets.

City of Newcastle Executive Director City Infrastructure Clint Thomson said the community is at the heart of the trailblazing work on the Coastal Buildings Revitalisation Plan.

“We’re leading the way with our work, which will ensure that the maintenance, renewal and upgrade of Newcastle’s coastal buildings is planned and delivered in a sustainable, strategic and considered manner, and benefits the wider community,” Mr Thomson said. 

“If you’ve swam at a local beach or ocean baths, enjoyed coffee and a snack from a beach kiosk, asked a lifeguard in blue for advice, been involved with nippers or other surf lifesaving club activities, then you’ll be no stranger to the importance of the buildings situated along the city’s iconic coastline.

“To inform the development of the Coastal Buildings Revitalisation Plan, we recently hosted a series of focus groups with key stakeholders, and now we want to hear from you to help us understand your needs and aspirations for our coastal buildings.

“Community insight is crucial to help inform the new plan, which will provide clear guidance for the maintenance, renewal and upgrade of coastal buildings and assets over the short, medium and long term.” 

In addition to the user needs analysis currently underway, a review of existing infrastructure is also being undertaken. 

This important feedback will contribute to a considered framework for future planning, management and prioritisation of infrastructure, balancing the views of users, and considering social, environmental and technical constraints. 

The Coastal Buildings Revitalisation Plan will also support City of Newcastle to apply for and secure NSW and Federal Government funding for projects that enhance access to our coastal areas.

Councillor Jenny Barrie said Newcastle’s beaches, baths and coastal areas are spectacular precincts that contribute to the wellbeing of our community and attract visitors to our city, and planning for their future will serve the community and visitors now and into the future. 

“We love our coast, and our beaches are a big part of our local culture, which is why we need to proactively plan for coastal infrastructure that supports the needs of our growing community and visitor economy now, and for generations to come,” Cr Barrie said. 

“Located along arguably one of the most incredible coastlines in the country, these buildings and facilities are essential community spaces that bring people together, while also providing a base for vital surf lifesaving services.”

To find out more and have your say visit https://haveyoursay.newcastle.nsw.gov.au/CBRP

Coastal Management Program

To continue to guide the ongoing management of Newcastle’s coastline and related projects and planning, City of Newcastle is also in the process of developing the Southern Beaches Coastal Management Program, which covers the coastline from Nobbys Headland to Glenrock Lagoon, and the Extended Stockton Coastal Management Program. 

Coastal Management Programs set the long-term strategy for the coordinated management of the coast, to protect coastal environments, manage the risk of coastal hazards, respect Aboriginal values and uses of the coastline, and ensure all use and development of the coastal environmental occurs in an ecologically sustainable way, while balancing the needs of the community. 

Local deliveries to go solar as truck battery swapping station comes to Moorebank Intermodal

More electric trucks will be rolling out onto Sydney streets within weeks, following the completion of Janus Electric’s first solar-powered Charge and Change Station at the Moorebank Intermodal Precinct.

The cutting-edge facility gives electric trucks, produced by Janus Electric on the Central Coast, the ability to swap the 2 metre by 1.2 metre batteries for fully charged batteries, and head off on their run.

The quick swap takes just four minutes – less time than it takes to refuel. A truck with a single trailer can generally travel between 300 to 400km on a single battery, with battery swapping stations strategically located, to keep trucks on the move.

It’s the first facility of its kind to be built at an intermodal terminal where freight is swapped between roads and rail. There are eight other Charge and Change stations across Australia, with more on the way.

Janus Electric’s battery-swapping technology allows for the batteries to be powered by rooftop solar energy, minimising wait times for drivers and ready to be picked up by the next electric truck to visit the Charge and Change Station.

The investment in the new facility follows the NSW Government’s introduction of the Towards Net Zero Emissions Freight Policy which outlines Government and industry actions that will reduce the carbon footprint of heavy vehicles and rail freight.

A key step in delivering the policy, extra-mass provisions for access to state roads, means electric trucks – like trucks from Janus Electric – can be used across the state without sacrificing cargo quantities.

New modelling shows freight transport and logistics contributed an estimated $74.3 billion to NSW in 2022-23, with the sector predicted to grow to an estimated $131.5 billion by 2060-61.

The freight transport and logistics sector provides more than 330,000 full time jobs, a number which could grow as high as 565,000 by 2060-61.

As the freight sector continues to grow, the NSW Government will keep working with industry to ensure it embraces new technology to continue growing sustainably.

Minister for Transport, Jo Haylen said:

“Freight demand is projected to rise by 34 per cent across NSW from 2021 to 2061. We’re going to need more capacity, not less, which is why we’re working on a plan with the freight industry to get us to net zero.

“Many freight operators are natural innovators and are already investing in low emission technologies.

“The NSW Government’s Zero Emissions Freight Policy means that the government is supporting industry and helping them invest in new and exciting technologies across the state and at key freight centres like Moorebank.”

Janus Electric CEO Lex Forsyth said:

“Launching this solar-powered Charge and Change Station is a crucial step towards a cleaner, greener future for Australia’s transport sector.

“Janus Electric is at the forefront of electric vehicle innovation in Australia, offering cutting-edge solutions to help reduce carbon emissions in the heavy transport industry. Our Charge and Change Stations enable quick battery swaps for electric trucks, providing a convenient and eco-friendly alternative to traditional refuelling methods.”

Simon Carter, Head of ESG for the Precinct’s developer, ESR Australia & NZ said:

“We are thrilled to support the launch of the Janus Electric Charge and Change Station at Moorebank Intermodal Precinct, a transformative step for Australia’s heavy vehicle transport sector.

“By facilitating battery swapping technology for electric trucks, we’re serving net zero ambitions and setting a new standard in sustainable freight transport.”

Police wanding powers to tackle knife crime begin this week

New wanding laws that that target the illegal possession of knives, aim to reduce knife crime and boost community safety come into effect in NSW today.

Under the powers, modelled on Queensland’s Jack’s Law, police will be able to use handheld scanners – or electronic metal-detecting ‘wands’ – to stop and scan individuals without a warrant at designated areas.

From today, a senior police officer of the rank of Assistant Commissioner or above can turn on wanding powers to be used in a designated areas including:

  • Public transport station (including bus, train and tram stations) and surrounds.
  • Public transport vehicles within two scheduled stops of a designated public transport station
  • Shopping precincts
  • Certain sporting venues
  • Other public places, designated by regulation, including special events and places that are part of the night-time economy.

Senior police officers will be able to declare these zones for up to 12 hours, with an option to extend that timeframe if specific criteria are met.  

Importantly, wanding powers can be turned on for areas where there have been issues related to knife crime or knife possession offences where one of the following have occurred in the last 12 months:

  • At least 1 offence committed by person armed with knife or weapon.
  • At least 1 serious indictable offence involving violence.
  • More than 1 offence of knife possession or prohibited weapon possession.

These reforms build on the NSW Government’s continued efforts to address knife-related crime and strengthen the safety and security of communities across NSW, including:

  • Doubling the maximum financial penalty for selling a knife to a child under 16 to $11,000 and introducing a custodial sentence of up to 12 months;
  • Creating a new offence prohibiting the sale of a knife to a child aged 16 or 17 without a reasonable excuse, with exceptions for young people needing knives for legitimate purposes such as work or study;
  • Doubling the maximum penalties for various knife-related offences;
  • Supporting high-impact police operations like Operation Foil, which targets knife crime and anti-social behaviour. In its latest phase, from April 11–13, 2024, police seized 51 knives and weapons and charged 145 individuals with weapon-related offences. Over the past year, almost 4,000 knives have been confiscated in public places.

Premier Chris Minns said:

“I know that these new laws will be inconvenient for people – but we can’t take chances when it comes to public safety.

“These new laws which start this week are about ensuring the public feels safe, and secondly and perhaps most importantly, to change the culture.

“To send a strong message to young people in particular, if you’re going to go out at night, don’t take a knife with you because there’s a very good chance, you’ll be wanded or scanned at a New South Wales train station.

“I have no doubt that these reforms will save lives, because people will think twice about carrying a knife with them.”

Minister for Police and Counter-terrorism Yasmin Catley said:

“Knife crime devastates families and communities, with the tragic consequences played out far too often.

“These new powers give police further capability and resources to quickly detect concealed knives before someone has the chance to use them.

“Police work tirelessly to keep us safe and this reform allows them to continue this important work. I want the community to have the confidence that this government is committed to giving the NSW Police Force all the tools required to combat violent crime.”

Cowra Hospital Redevelopment reaches significant construction milestone

The $110.2 million Cowra Hospital Redevelopment has reached a major milestone, with the structure of the building now complete.

The ‘topping out’ of the new hospital is the latest construction milestone for the redevelopment, which will significantly enhance access to healthcare for the Cowra community.

When complete, the new hospital building will provide a modern and purpose-built health facility for the region and will include:

  • An emergency department
  • A general medical and surgery inpatient ward
  • A peri-operative service
  •  A maternity unit with a dedicated nursery
  • Ambulatory care
  • A dental clinic
  • Renal dialysis
  • Oncology
  • Community Health and Mental Health, Drug and Alcohol services
  • The hospital’s first CT Scanner

The latest milestone coincides with the release of a new artist’s impression showcasing the façade of the new hospital building, which has been designed to reflect the Cowra landscape.

Feedback from staff and the community has informed the new hospital’s two-level design, which will provide enhanced views of the district, as well as improved access and onsite parking and new landscaped areas.

Construction of the new hospital is providing a boost to the local economy with the engagement of 25 local businesses and well as the direct employment of a number of local contractors.

With structural works now complete, work will progress on the internal fit-out, services installation and exterior works.

Health services are continuing to operate during construction, with the new hospital on track for completion in 2025.

The project is being delivered by Health Infrastructure and Western NSW Local Health District in partnership with Richard Crookes Constructions.

For more information on the project, visit Cowra Hospital redevelopment.

Minister for Regional Health Ryan Park:

“The topping out of the new hospital building is a major milestone in the delivery of a new health facility, which will enhance healthcare services for Cowra and the surrounding regions and increase capacity to better meet the current and future health needs of the local community.

“Our rural and regional communities, including the community of Cowra, deserve high quality contemporary and accessible health care, closer to home and this new hospital, due for completion next year will support staff, patients and the community now and into the future.”

Labor Spokesperson for Cootamundra, Stephen Lawrence MLC:

“The new hospital has been designed in close collaboration with staff and clinicians to create a welcoming and supportive environment for patients, visitors and staff.

“Construction of the new hospital building is also providing a welcome boost to the Cowra economy, supporting many local businesses and the direct employment of contractors.”

New South Wales shines at 2024 Australian Training Awards

New South Wales shone at the Australian Training Awards held in Canberra on Friday night, taking out some of the top awards of 2024.

Representatives from the state won the Trainee of the Year Award (Winner), Excellence in Language, Literacy and Numeracy Practice Award (Winner), Australian School-Based Apprentice or Trainee of the Year Award (Runner-up), Vocational Student of the Year Award (Runner-up), the Australian Apprenticeships Employer Award (Gold) and School Pathways to VET Award (Bronze).

Excellence in vocational education and training (VET) was everywhere to be seen during the 30th year of the Australian Training Awards.

The VET sector came together at a gala night at the National Convention Centre in the capital to recognise apprentices, trainees, VET students, teachers, practitioners, employers and training providers from around Australia.

Dedication, commitment and achievement in VET were in the spotlight and celebrated at Australia’s premier training awards, attended by the winners, finalists, state and territory training ministers and representatives from the VET sector.

The NSW winners and finalists joined fellow achievers from all Australian states and territories to become ambassadors and role models for our great VET sector.

NSW 2024 Australian Training Award winners:

2024 Trainee of the Year Award (Winner) – Lachlan Carey

Lachlan pursued his passion to help others by completing a Certificate III in Early Childhood Education and Care with Atkinson Training and Development. Bringing his fun, nurturing and patient nature to every interaction during his traineeship at A Magical Time Children’s Centre, Lachlan was immediately adored by the children in his care.

Excellence in Language, Literacy and Numeracy Practice Award (Winner) – Gemma Beall

Gemma is an energetic, creative and innovative vocational educator with more than 16 years’ experience delivering adult literacy and numeracy initiatives. Championing educational equity, opportunity and best practice, Gemma works with industry to incorporate language, literacy and numeracy training in the workplace. Gemma is the Team Leader Literacy (Sydney Region) at TAFE NSW. 

Australian School-Based Apprentice or Trainee of Year Award (Runner-up) – Dascha Harrison

Dascha, a Year 12 student at Newcastle High School, is undertaking a school-based traineeship to help her prepare for her career in child and adolescent psychiatry. Completing a Certificate III in Health Services Assistance at TAFE NSW, Dascha is employed at Hunter New England Health. Dascha is not only shining in her traineeship, she is also excelling in the classroom, on the sports field and in her part-time job.

Vocational Student of the Year Award (Runner-up) – Samantha Zannes

Knowing the importance of early intervention and tailored education for students with additional needs, Samatha pursued a vocational pathway to become an early childhood teacher. Samantha completed a Certificate III in Early Childhood Education and Care at ECTARC Training Services and is employed at Jenny’s Kindergarten and Early Learning Bathurst. Samantha says her VET pathway was the perfect avenue to success.

Australian Apprenticeships Employer Award (Gold) – Essential Energy

Essential Energy operates and maintains one of Australia’s largest electricity distribution networks and is committed to creating genuine career pathways across regional, rural and remote NSW. Essential Energy has trained 1,391 apprentices since 2001, with 92% completing their qualification and 64% staying with the company.  Essential Energy said recruiting and training locally was the key to their success.

School Pathways to VET Award (Bronze) – CathWest Innovation College

CathWest’s Pathways to Infrastructure program is a collaborative school-based traineeship designed to address skill shortages in the construction industry. CathWest students complete a Certificate II in Civil Construction, delivered by the Health and Safety Advisory Service, while undertaking paid employment at CPB Contractors and working towards their higher school certificate.

For more information on 2024 Australian Training Awards and the winners visit the Australian Training Awards website.

Minister for Skills and Training Andrew Giles:

“It is fantastic to get the chance to come together and celebrate the students, trainees, apprentices, teachers, trainers, providers, employers and advocates that make up our tertiary education system.

“The Australian Training Awards are about recognising the dedication and achievements of people in the VET sector and how VET plays a future-shifting role for so many individuals and the communities they live and work in.

“The Albanese Labor Government is committed to VET, including through our contribution of $12.6 billion over five years to the National Skills Agreement and 508,000 national enrolments for Free TAFE, including more than 231,000 people in New South Wales, in the first 18 months.” 

“Looking at the finalists this year, it is clear the VET touches every corner of this country; with representatives from metro, regional and rural communities from all states and territories.

“Congratulations to the winners, runners-up and finalists.”

NSW Minister for Skills, TAFE and Tertiary Education Steve Whan:

“I’m thrilled to see NSW shine at the 2024 Australian Training Awards, with Lachlan Carey and Gemma Bell leading the way as winners in their respective categories. Their achievements reflect the dedication, innovation, and skill within our state’s VET sector.

“While NSW took home several top awards, I also want to commend our runners up, including Dascha Harrison and Samantha Zannes, who both achieved incredible positions in highly competitive categories. Indeed, I am very proud of all our NSW winners who have represented our state so well.

“NSW’s success is a testament to the strength and diversity of our VET sector. From apprentices to educators and employers, these achievements highlight the critical role vocational training plays in equipping people with the skills to excel in their careers and contribute to our economy.

“Investing in vocational education and training is investing in the future of NSW. The Minns Labor Government is proud to be supporting this vital sector, after 12 years of Liberal-National neglect. We are not only creating opportunities for individuals, but also building a stronger, more resilient economy for our state.”

Strengthening Jewish community safety

The attack on the Adass Israel Synagogue was an atrocious act.

Antisemitism has no place in Australia and we unequivocally condemn it.

Today the Albanese Government committed $32.5 million to the Executive Council of Australian Jewry (ECAJ) to further enhance security at Jewish community sites including synagogues and schools.

This significant funding increase comes in addition to the $25 million grant to the ECAJ announced in October 2023, and funding for Jewish community sites under the Albanese Government’s $50 million Securing Faith-Based Places grant program.

These additional funds will support the ECAJ, in collaboration with Community Security Groups and the National Council for Jewish Community Security, to address risks faced by the Jewish community in light of the increase in antisemitism in Australia.

The new funding will enhance security resources for Jewish schools, pre-schools and other communal facilities used by the Jewish community through:

  • risk and threat assessments
  • critical incident planning
  • minor security infrastructure works including the installation or upgrade of security camera systems, access controls, security lighting, fences and gates, detection and alarm systems
  • security monitoring
  • security guidance and training
  • crisis management support and coordination, and
  • security guard services.

Prime Minister Anthony Albanese

“The Jewish community has made an extraordinary contribution to the strength and success of our nation, over generations.

“This grant of $32.5 million will enable the community to provide support and security on the basis of priorities established by the community themselves.

“Antisemitism is disgraceful, and I unequivocally condemn it in all its forms.

“Every Australian has the right to be proud of who they are and to feel welcome, safe and supported in Australia.”

Attorney-General Mark Dreyfus

“There is no higher priority than community safety for the Albanese Government.

“Antisemitism has no place in Australia. We all have a responsibility to fight against it.

“This announcement builds on previous support for the Jewish community, including funding for increased security, criminalising doxxing and banning the Nazi salute and hate symbols.”

HomeKeeper: Greens Election Plan Would Require Banks To Offer Discount Low Rate Mortgages

The Australian Greens have today launched a plan to require the big banks to offer a discount mortgage called HomeKeeper to all homeowners, including first homebuyers and owner-occupiers.

This would be delivered via legislating a cap on the profit a big bank can make on this mortgage product. The big banks could still offer other products and there would be no compulsion on anyone to switch to a HomeKeeper mortgage.

About HomeKeeper

  • The Greens plan empowers the ACCC and APRA to together have the independent power to stop banks ripping people off, and ensure the big banks don’t unnecessarily overcharge
  • HomeKeeper mortgages would be set at a regulated ceiling of no more than 1% above the cash rate. All of the big 5 banks would be required by regulations to offer HomeKeeper
  • This discount HomeKeeper mortgage would be available to any owner-occupier whether or not they are a first home buyer
  • People with a current mortgage on their home would be able to transfer into HomeKeeper at their own choice
  • HomeKeeper would not be available for investment property mortgages, commercial premises or holiday homes
  • Support would be provided to smaller banks so that they could offer a similar low-rate product without being financially disadvantaged

Overview: bank profits on mortgages

For decades the major banks have made enormous profits price-gouging on people’s mortgages, even when interest rates were low.

According to modelling by The Australia Institute, big bank profits on the average home loan sit around $9,130 in the first year and $200,880 over the lifetime of a 30-year loan.

The Australia Institute estimates that equates to $176 per week, or $761 a month of an average mortgage repayment is going directly to big bank profits.

With the HomeKeeper mortgage, the interest rate would be 1% above the RBA cash rate, the big banks would make a more reasonable profit and mortgage-holders would have more in their pockets for other expenses.

The current cash rate is 4.35%. The RBA lists the owner-occupier variable housing rates as 6.3% (new loans) and 6.4% (outstanding loans), giving a margin of 1.95% (new loans) and 2.05% (outstanding loans) above the cash rate.1 

The latest average new mortgage size is $589,560,2 meaning for a new mortgage holder, a reduction in their interest rate from 6.3% to 5.35% would be equivalent to almost four interest rate cuts by the RBA, with a saving of up to $357 per month, or up to $4,284 per year. For someone with an $800,000 mortgage, the cut of almost a percentage point would be equivalent to monthly savings of up to $484 and annual savings of up to $5,814.

Rates of mortgage stress

Almost 1.5 million Australians are currently at risk of mortgage stress. The number of Australians ‘At Risk’ of mortgage stress has increased by 680,000 since May 2022 when the RBA began a cycle of interest rate increases. Official interest rates are now at 4.35%, the
highest interest rates have been since December 2011, over a decade ago.

Comment attributable to Greens spokesperson for Treasury Senator Nick McKim

“For too long, big banks have been ripping people off by charging interest rates well above the cash rate.

“The Big Four Banks are crushing mortgage holders. They are currently making billions of dollars in profits ripping off struggling mortgage holders by overcharging them on their mortgage.

”For the average home loan, $761 per month is pure profit for the major banks.

“To stop the price gouging and profiteering, the Australian Greens can today announce our new policy HomeKeeper: a discount mortgage for homeowners.

“This policy will reduce the costs of mortgages for everyone by limiting the amount at which banks can rip people off.

“No one should have to pay more than 1% over the current cash rate, it’s immoral that people are being forced out of their homes while banks are making billions in profits.

“This policy will stop big banks charging more than is absolutely necessary to provide a mortgage product to people struggling to keep a roof over their heads, and it will stop the Big Banks’ super-profits made from mortgages.

“After the next election we’ll almost certainly have a minority parliament and this is part of the Greens plan to work with Labor to help renters and people with mortgages.

“If you want change, you have to vote for it, and the first step is to vote for someone who is fighting for you.”