Category: Australian News

New research from the Reserve Bank has confirmed what millions of Australians already knew: big corporations used the cost of living crisis to push through higher prices and boost profits.

“The Reserve Bank has again acknowledged that changes in corporate pricing behaviour played a sizeable role in the inflation crisis,” Greens Economic Justice Spokesperson Senator Nick McKim said.

In Senate Estimates in 2024 Reserve Bank Governor Michele Bullock agreed with Senator McKim that corporations were using the cover of a significant rise in inflation and a lack of competition to boost their profits over and above what would be required to meet increases in their input costs.

“This backs up what the Greens have been saying for years. Corporations used the cover of global shocks to gouge consumers and pad their profits,” Senator McKim said.

“The answer cannot be higher interest rates and more pain for ordinary people while the corporations driving inflation walk away with billions. We need strong anti-price gouging laws to stop corporations exploiting crises to rip people off.”

“One of the reasons Australians are paying too much for food, insurance, banking and flights is because a handful of giant corporations dominate entire sectors of the economy.”

“We need a boost to competition powers to meet this challenge of concentrated market power. Divestiture powers – as exist around the world – are needed so that courts and governments can break up companies that misuse their market power and squeeze Australian consumers.”

“Labor has spent years protecting corporate profits while households have been smashed by higher prices.”

“The Greens will keep fighting for laws that put people ahead of corporate greed.”

The RBA paper can be found here.

The Victorian Greens have called on Minister Penny Wong and the Albanese Government to intervene to protect 11 Australians who have been kidnapped by the Israeli Defence Force.

It comes as 11 Australians trying to bring urgent aid to Gaza were illegally intercepted in international waters by the Israeli Defence Force on Tuesday. The whereabouts and wellbeing of these individuals is currently unknown.

Due to global inaction, many brave humanitarians have attempted to deliver aid to people in Gaza who have been systematically starved and bombed by the Netanyahu Government over the past two and a half years. 

The Greens say, for too long, the Albanese Labor Government has refused to properly sanction the Netanyahu Government and end the arms trade with the Israeli Government. Kidnapping our citizens is totally unacceptable and needs a strong and unequivocal response from the Australian Government.

Leader of the Victorian Greens, Ellen Sandell: 

“In the face of government inaction, these brave people have taken it upon themselves to deliver aid to the people in Gaza. The least the Australian Government could do is intervene to protect these Australians, who have been illegally kidnapped by the Israeli Defence Force.” 

“My office has been inundated with messages of concern from everyday people for their fellow Australians, yet we’ve had silence from this Labor Government.”  

After discussions between Australia and China, including between the Prime Minister and China’s Premier Li, the Albanese Labor Government has helped to secure three shipments of jet fuel, totaling more than 600,000 barrels or about 100 million litres.

The Government has also helped to secure another 38,500 tonnes of agricultural grade urea from Brunei, for Australian farmers, producers, and our agriculture industry, to keep Australia’s food and fiber production systems strong.

This adds to fertiliser and fuel that has been secured through the Albanese Labor Government’s $7.5 billion Fuel and Fertiliser Security Facility, designed to help Australia’s agriculture and transport industries manage the impacts of the conflict in the Middle East.

The Fuel and Fertiliser Security Facility has now helped to obtain around 125,000 tonnes of agricultural grade urea, in addition to the 250,000 tonnes of agricultural grade urea secured from Indonesia in partnership with Incitec Pivot.

This extra fertiliser gives greater certainty to farmers as they make planting and growing decisions, safeguarding our domestic food supply and the food security we provide to our neighbours in the Indo-Pacific region.

The three cargos of jet fuel from China are expected to arrive from early June, and are in addition to the 600,000 barrels or about 100 million litres of jet fuel already secured through the Fuel and Fertiliser Security Facility.

These cargoes from China are a first step and we are working to ensure there will be more to come, to keep our aircraft flying, including to rural and regional areas.

the Prime Minister Anthony Albanese

“In the face of global challenges, my Government will leave no stone unturned to shield Australians from the impact of global fuel challenges.

“The additional 600,000 barrels of jet fuel will help keep Australia moving, and the extra fertiliser will help provide certainty to our farmers.”

Minister for Foreign Affairs, Penny Wong

“Australia is working with countries in our region to respond to this unprecedented shock to the global economy and ensure the continued flow of essential fuels.

“The Albanese Government is focused on securing the supplies – including diesel, jet fuel, petrol and fertiliser – that Australia needs.”

Minister for Trade and Tourism, Don Farrell

“The additional jet fuel will support travel to Australia’s world class tourist destinations and support the movement of freight within Australia and exports overseas.”

“The fertiliser we have secured will support Australian farmers to produce the agricultural exports that we sell to the world, helping grow our economy and maintain our reputation as a supplier of world-class exports.”

Minister for Climate Change and Energy, Chris Bowen

“The Albanese Government is continuing to secure more fuel to help Australians now while we set Australia up to better prepare for future shocks.

“Our efforts throughout Government have made Australia more energy secure now and into the future.”

Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King

“Securing these jet fuel supplies is just one of the ways the Albanese Government is working with industry to keep people and goods moving.

“This additional fuel will be a welcome boost for our aviation sector and ensure the public can continue to fly with confidence.”

Minister for Agriculture, Fisheries and Forestry, Julie Collins

“At a time of global uncertainty, our Government is doing everything we can to give our farmers confidence for the future.

“The additional fertiliser we have secured through our $7.5 billion Fuel and Fertiliser Security Facility will mean Australia’s farmers can keep farming.

“Having access to critical inputs like fertiliser underpins the food security of Australia and the countries we export to, particularly in the Indo-Pacific region, which is why we’ve been working day and night with industry to get fertiliser to our farmers.”

The Older Person’s Advocacy Network (OPAN) welcomes additional protections for older people announced by Government today for the Support at Home program, but warns that delaying promised pricing caps will continue to leave older people exposed to rising costs.

While these new safeguards are a step in the right direction, they do not fully address the underlying issue of affordability and pricing certainty for older people.

OPAN Director Policy, Education and Systemic Advocacy Samantha Edmonds said delaying pricing caps risks leaving older people exposed to ongoing cost pressures and uncertainty around care affordability.

We welcome stronger oversight and transparency measures, but the decision to delay pricing caps means older people will continue to face uncertainty about what they will pay for essential services,” Ms Edmonds said.

Older people are already enduring a cost-of-living crisis and having access to reasonable and affordable care is essential for their wellbeing.”

Ms Edmonds said key elements of the Government’s package are welcomed, including powers for the Aged Care Quality and Safety Commission to order refunds, increased public reporting, and the introduction of quarterly national price summaries.

Additional funding for advocacy and education will also be critical to ensuring older people understand their rights and can challenge unfair fees,” Ms Edmonds said.

However, Ms Edmonds said further improvements are needed to ensure these measures deliver meaningful protection, including local pricing transparency, and we look forward to working with Government to achieve this.

Publishing national price summaries is positive, but older people need to be able to compare prices in their local area to ensure they can make informed choices about providers,” Ms Edmonds said.

Ms Edmonds also reiterated OPAN’s call for Support at Home places to be indexed appropriately.

Without indexation aligned to cost pressures such as CPI, there is a real risk that package values will not keep pace with rising service costs, forcing older people to go without care,” Ms Edmonds said.

OPAN looks forward to engaging constructively through the Government’s newly announced working group, alongside Council on the Ageing (COTA), Ageing Australia and the Aged Care Quality and Safety Commission.

We welcome the opportunity to help define what ‘reasonable pricing’ looks like and to ensure older people’s voices are central to that work,” Ms Edmonds said.

It is critical that this process leads to clear, enforceable protections – including the timely introduction of well-designed price caps.”

Ms Edmonds said pricing is one of the several challenges that the much-anticipated Support at Home program has faced since its inception, with advocates being inundated with concerns from older people.

It is essential that the reforms deliver on their promise – ensuring older people can access affordable, high-quality care at home,” Ms Edmonds said.

The Government must prioritise getting pricing right and provide a clear pathway to implementing caps that restore integrity and trust within the aged care system.”

The most unpopular budget since 1993! Across every generation. Some of the most damning findings of this Newspoll actually relate to housing. Sixty per cent of Aussies think Labor’s housing measures are a step in the wrong direction.

If the Labor Government were serious about tackling the housing crisis they could start by ending mass migration and banning the foreign ownership of property. News flash, they won’t! In fact, they used the budget to put rocket boosters under mass migration, which will only make the housing crisis even worse.

With any luck this dreadful budget will be the beginning of the end for this failing Labor Government.

Two more brand-new apartment buildings including 100 homes ready to be lived in have now been completed at Prospect Corner in Adelaide, as a result of the Albanese Government’s Housing Australia Future Fund program and the Malinauskas State Government.

Today Prime Minister Albanese and Premier Malinauskas marked the milestone by visiting the site and meeting with local residents.

Prospect Corner is an $80 million, 208-home urban renewal project in Prospect, South Australia. Notably, this 2.36-hectare master-planned site was one of the first nationally to receive federal backing from the Housing Australia Future Fund (HAFF) to boost housing supply under the Albanese Government’s $47 billion Homes for Australians plan.

Today’s milestone means that three-quarters of the homes at the Renewal SA precinct are now complete or under construction.

This latest construction milestone at the site builds on the 29‑home, multi-storey apartment completed on the southeastern edge of the development in recent months which is already fully occupied.

Further, an eight-storey building with 71 apartments recently achieved practical completion and residents are expected to begin moving in this week.

Prospect Corner’s original master plan included a single apartment tower with 72 homes.

In 2024, the Malinauskas Government was successful in securing support from the Albanese Government’s Housing Australia Future Fund Facility (HAFFF), enabling a second apartment development to be completed, increasing the total yield.

The tenanted 29-home building is being managed by Community Housing Provider Junction, offering affordable rental opportunities to eligible tenants through a government-led scheme.

Renewal SA is in final stage negotiations with a Community Housing Provider to manage the recently completed 71 home building.

The apartments offer a mix of studio, one, two and three-bedroom homes.

Both the internal and external spaces feature original First Nations artwork commissioned specifically for the site.

A rolling program of construction will see work on the remaining homes begin throughout this year and into early 2027.

In total, there will be 208 homes built at Prospect Corner – with 108 townhouses being constructed in addition to the 100 apartments.

The first homes and the large central park were completed in spring last year and celebrated with a community welcome event. Thirty additional townhouses are expected to be completed within the next three months.

Renewal SA is targeting construction completion of Prospect Corner in 2028.

Prime Minister Anthony Albanese:

“Our number one focus continues to be supply and we are throwing everything at it.

“We want to reach our target to build 1.2 million homes. And to do that we must use ever lever available.

“My government has a $47 billion Homes for Australians Plan that we have been rolling out since we were elected four years ago.

“We’d had 10 years of Coalition inaction on housing supply. We are turning things around.”

Premier of South Australia, Peter Malinauskas:

“South Australia is in the middle of a housing boom, the likes of which we’ve never seen before.

“That is because our government has a track record of taking vacant, strategic land in key locations and turning it into thriving suburbs.

“The Albanese Government has backed in our ambitious housing agenda. That manifests itself in the significant expansion of our efforts to build more homes, just like at Prospect Corner.

“We are building more homes, faster, for South Australians.”

the Minister for Housing, Clare O’Neil:

“We’ve got a very simple approach to housing: build more homes. That’s what’s happening here at Prospect Corner and right across South Australia.

“More homes means more affordable housing, and that’s exactly what this project is delivering for South Australians.”

SA Minister for Housing and Urban Development, Nick Champion:

“Prospect Corner is a benchmark for smart urban renewal; great location, affordable options and a community that’s coming to life.

“The Albanese Government partners with our government because it knows we can deliver more homes for South Australians at pace.

“A once vacant block of land is now a thriving community – that’s the Albanese and Malinauskas Government’s housing agenda in action.”

Air Vice-Marshal Glen Braz AM CSC DSM has been appointed as the new Chief of Joint Capabilities, replacing the incoming Chief of Army, Lieutenant General Susan Coyle AM CSC DSM. 

Air Vice-Marshal Braz brings extensive experience across almost 40 years of service in the Australian Defence Force. 

Since joining the Royal Australian Air Force in 1987, Air Vice-Marshal Braz has held multiple distinguished senior appointments across Defence and the Australian Signals Directorate, including the Commander of the Australian Air Task Group of the Middle East Region, Director-General of Military Strategic Commitments, Deputy Chief of Air Force and most recently Air Commander Australia. 

As the Chief of Joint Capabilities, Air Vice-Marshal Braz will lead Defence’s Joint Capabilities Group, which is responsible for delivering integrated support across cyber operations, cyber security, logistics, space, and national support to enable Defence to operate effectively across all warfighting domains.

He will continue the development of the Joint Capabilities Group to meet the capability priorities set out in the 2026 National Defence Strategy, including the uplift in Defence’s logistics infrastructure and an increased investment in space and cyber capabilities.  

Air Vice-Marshal Braz will be promoted to Air Marshal and start in his new role in July 2026 for a four-year tenure. 

The Government thanks Lieutenant General Coyle for her outstanding accomplishments as the Chief of Joint Capabilities and looks forward to continuing to work with her as the Chief of Army. 

Deputy Prime Minister, the Hon Richard Marles MP:

“Congratulations to Air Vice-Marshal Glen Braz on his appointment as the Chief of Joint Capabilities.

“Air Vice-Marshal Braz brings the experience, insight and leadership needed to deliver space and cyber power, national support, logistics and joint training – ensuring the ADF is prepared to safeguard Australia’s sovereignty, security and prosperity for decades to come. 

“I look forward to working with Air Vice-Marshal Braz as we continue the Australian Government’s work to embed space and cyber as the fourth and fifth warfighting domains.” 

Chief of the Australian Defence Force, Admiral David Johnston AC RAN: 

“I extend my heartfelt congratulations to Air Vice-Marshal Braz and his family on his promotion and appointment as the new Chief of Joint Capabilities.

“Air Vice-Marshal Braz brings extensive experience from his roles across Defence and the Australian Signals Directorate. 

“His strong track record refining and developing military capability and empowering his people will enable Joint Capabilities Group to meet the capability priorities as set out in the National Defence Strategy 2026.”

Deputy Prime Minister and Minister for Defence, Richard Marles is travelling to the Middle East, where he will meet with leaders in the United Arab Emirates and our Australian Defence Force personnel serving in the Gulf region.

Australia remains committed to supporting the collective self-defence of regional countries, including the UAE, in line with our long history of contributing to peace and security in the Middle East.

Australia wants to see the conflict end, the Strait of Hormuz open and freedom of navigation restored.

Deputy Prime Minister, the Hon Richard Marles MP:

“We continue to work closely with our friends and partners to contribute to the defence of Gulf States, through our deployment of the E7-A Wedgetail aircraft and delivery of Advanced Medium Range Air-to-Air Missiles.

“Peace and security in the Middle East matters to Australia, which is why we are working with our allies to support efforts to secure freedom of navigation in the Strait of Hormuz.”

AUKUS in Australia is taking another significant step forward with the Albanese Government selecting Lockheed Martin Australia as the preferred Combat System Integration Partner for Australia’s future fleet of sovereign Virginia class submarines. 

This partnership will provide extensive opportunities for Australian industry and workers and build the breadth of technical skill and knowledge in Australia.

It is expected that an additional 100 jobs will be created at Lockheed Martin Australia in support of the Combat System Integration Partner program, with initial work to be undertaken in WA.

As the 2026 National Defence Strategy affirms, Australia’s future fleet of conventionally-armed, nuclear-powered submarines will be critical to achieving Defence’s strategic objectives, growing our deterrence capability and contributing to security and stability in the region. Australia will acquire its first of three sovereign Virginia class submarines in the early 2030s.

The combat system underpins the potency and lethality of a submarine. The Combat System Integration Partner is pivotal to the effectiveness of Australia’s future Virginia class submarines – including through the implementation and testing of combat systems improvements, and supporting crews in conducting maintenance and repair on the combat system.

This will complement the long- standing submarine combat system Armament Cooperative Programs between the Australian and US Governments to integrate and sustain the combat capability of the submarines.

This will ensure our future combat systems incorporate the latest in technology and maintain advantage in the undersea domain.

The Australian Government will now work closely with Lockheed Martin Australia on developing an initial services contract, with an estimated two-year contract term.

The acquisition of Australia’s nuclear conventionally-armed, nuclear-powered submarines is the single biggest capability acquisition in our nation’s history and will create around 20,000 direct jobs over the next 30 years.

Australia’s Virginia class conventionally armed, nuclear-powered submarines will be sovereign Australian submarines under the command of the Royal Australian Navy at the direction of the Australian Government. 

Deputy Prime Minister, the Hon Richard Marles MP:

“AUKUS is on track and happening now.

“The selection of the preferred Combat System Integration Partner is another significant milestone for Australia’s future fleet of Virginia class submarines. 

“By making these decisions now, we are ensuring our local industry and naval workforce is equipped with the skills it needs to operate and maintain conventionally-armed, nuclear-powered submarines which will protect our nation and keep Australians safe.”

Minister for Defence Industry, Pat Conroy:

“AUKUS will be the greatest industrial endeavour ever undertaken in Australia, generating around 20,000 jobs as part of a future made in Australia.

“It will provide opportunities for Aussie workers to develop important technical skills and knowledge, strengthening our sovereign defence industry.”

In a major milestone for Australia’s sovereign defence sustainment capability, the Albanese and Malinauskas Governments have officially opened the $200 million Deep Maintenance and Modification Facility at Royal Australian Air Force (RAAF) Base Edinburgh, South Australia. 

The first of its kind in the Southern Hemisphere, the Deep Maintenance and Modification Facility will become a regional hub for the maintenance and sustainment of aircraft for the Australian Defence Force and that of our partners. 

Delivered on time and on budget – a result of the strong partnership between the Federal and State governments – this facility will enable the long-term deep maintenance of the RAAF’s P-8A Poseidon maritime patrol aircraft to occur in Australia, and in doing so will support highly skilled local engineering, avionics and logistics jobs. 

The 240 metre-long building has been designed to accommodate and support not just the P-8A Poseidon, but a range of other RAAF platforms and includes:                      

• a four‑bay hangar capacity suitable for Boeing 737‑derivative aircraft;
• aircraft docking systems to provide full aircraft access for deep maintenance and modification;
• workshops to support structural, mechanical, avionics and mission‑system maintenance and modifications;
• secure systems and infrastructure to support sustainment and upgrade activities for sensitive equipment; and
• logistics and support workspaces to enable long‑duration maintenance events.

In a significant step for our ANZAC interoperability, the Royal New Zealand Air Force will also maintain and repair its fleet of P-8A aircraft at the South Australian facility from 2028 – further reinforcing our shared commitment to regional security and collective maritime capability.

Construction of the Deep Maintenance and Modification Facility over the last two years created around 450 jobs and more than half of the structural steel used was from South Australia’s Whyalla Steelworks. 

The P-8A Poseidon is the cornerstone of Australia’s anti-submarine warfare, anti-surface warfare, and search and rescue capability.

In March 2025, Defence signed a $291 million support contract with Boeing Defence Australia to deliver upgrades to the P-8A Poseidon fleet, including an improved combat system, enhanced anti‑submarine warfare capability, and upgraded satellite communications to improve integration across the Australian Defence Force. 

The first two P-8A Poseidon aircraft are currently being modified by the United States Navy, ensuring continued commonality and interoperability with our alliance partner. The remaining aircraft will be modified by Boeing Defence Australia at the Deep Maintenance and Modification Facility, embedding this critical workforce in Australia. 

The new facility is also set to become the workplace for students from the Malinauskas Labor Government’s new technical college – The Heights Technical College – where Boeing has signed on as an employer partner. 

More than 20 students are now studying aero skills to become aircraft maintenance technicians and engineers – the first course of its kind in the state. Students from the college attended today’s opening. 

By enabling long-term, deep maintenance and modification of P-8A Poseidon aircraft in Australia, the Albanese and Malinauskas Governments are ensuring Defence capability, Australian industry, and the skilled workforce in South Australia grow together delivering enduring benefits for Australia’s national security, defence industrial base and international partnerships.

South Australia’s growing defence industry generated a record $2.015 billion in economic activity last financial year, more than double the $977 million produced in 2019-20.

Deputy Prime Minister, Richard Marles:

“This facility is a critical investment in Australia’s ability to maintain and sustain key capabilities for our Defence Force here at home.

“By embedding deep maintenance and upgrade work for the P-8A Poseidon fleet in Australia, we are strengthening sovereign capability, improving force readiness, and reducing reliance on overseas sustainment, exactly as set out in the National Defence Strategy.

“Just as importantly, this facility will support a skilled defence workforce and a resilient defence industrial base in South Australia, ensuring our Defence capability and Australian industry can continue to grow together. 

Premier of South Australia, Peter Malinauskas: 

“The opening of this huge new defence aircraft maintenance facility in South Australia is a major milestone for Australia’s defence sustainment capability.

“It is going to create important long-term careers right here in South Australia in the highly-technical field of aero skills.

“Students at The Heights Technical College will graduate not only with their high school certificate and an in-demand trade qualification – they will be able to walk straight into a highly-skilled career in aero skills at this new facility.”

Minister for Defence Industry, Pat Conroy:

“This facility, built with steel from Whyalla, will sustain hundreds of long-term, secure defence jobs for South Australians. 

“This is about more than infrastructure. It’s a testament to the cooperation between the Albanese Government and Malinauskas state government, whether that be in saving the Whyalla steelworks or our commitment to a future made in Australia.

“The DMMF will sustain high value defence industry jobs in South Australia, grow a highly skilled workforce, and ensure Australian businesses play a central role in delivering advanced Defence capabilities.”

South Australia Minister for Defence & Space Industries Chris Picton:

“The opening of this $200 million facility is an important milestone for defence jobs in our state. 

“Previously these planes were sent offshore for maintenance and upgrades, now South Australians will be performing this work. 

“This partnership between the Albanese and Malinauskas Labor Governments will create ongoing, highly-skilled, secure and well paid jobs in our state for decades to come.”