The Point Live: Inflation at 4%; Coalition MP to save country from 'socialism'. As it happened.

It’s been another DAY. And so, we think you should be free to stare at a wall or anything else which brings you some respite from all of *gestures* this.

Thank you again to everyone who followed along with us today – it is amazing to see more of you everyday, so thank you for telling your friends – it means the absolute world.

‘The yearly ASIO update on where we stand with security threats will be later tonight, so we will bring you all of that tomorrow, as well as everything else that is happening in this mad place.

Until then, take care of you. Ax

Anthony Albanese has held a phone call with his Thai counterpart, Anutin Charnvirakul.

The pair exchanged congratulations – Albanese congratulating Anutin on his reappointment as PM, and Anutin congratulating Albanese on his semi-recent wedding.

Both are big fans of the Australian-Thailand strategic partnership. Both are concerned over the ‘situation’ in the Middle East and the domestic consequences for this region.

Both think countries should work together. Both think cooperation on defence and crime is important. And they will move foward with the free trade agreement negotiations.

(These read outs are always very weird and are always given on background which is pretty ridiculous – because it is so obvious where the information came from. )

Here is a bit of how Bowers saw QT:

Oh my goodness – has Labor found some fight?

There have been a lot of meetings, and urgings and concerns and the heat of a coming national conference which have a lot of the backroom – and front of house – Labor strategists winning the battle for a more bolshie parliamentary party.

‘Outbreaks of honesty’ is how one Labor strategist put it to me when I asked if this was something that was actually planned or just increasingly desperate individual acts after noticing the change a couple of weeks ago.

But One Nation may have given Labor a fight worth having – and shocked it out of its never ending march towards becoming the Liberal party.

I would make any sort of predictions that this is going to go further, or indeed, even where it needs to. But there has been a shift with Labor. It is easier to fight One Nation than it is the Coalition if you are this government – and the focus is on winning back the soft voters who don’t agree with One Nation policies, but do want to send a message to the major parties.

So, let’s see shall we? It was another QT where Labor was able to dominate, purely by calling out the dogwhistles and hypocrisies of the Coalition and addressing what they were actually claiming, rather than the gotcha questions.

But she bats it away. After getting the same question as Albanese – about having a previous investment property which received the CGT discount, O’Neil says:

…I think that the member is trying to make a point that she feels is about hypocrisy, but I tell you what would really be hypocritical, it would be a person like me who is lucky enough to live in the home that I own, creating a system and perpetuating a system that leaves behind the [average Australian].

What is truly hypocritical here is the group of people who sit opposite me, the vast majority of whom own their own home, many of whom own investment properties, and who are continuing to lock generations of young people out of the housing market.

Now, speaker, it’s really quite simple. You’re either on the side of change and you’re on the side of first home buyers, or you’re the last man standing defending a broken housing market in our country.

And we’re all going to get the choice on Thursday to come back into the parliament and to express again our views on this issue. And I tell you what, the Labor Party will be doing, the Labor Party will be coming into this parliament, and we will be voting for a tax cut for every single one of Australia’s 13 million workers, and we will be voting to create a fairer housing market for Australians.

And I say again to those opposite, you must be blind if you cannot see how much our broken housing market is hurting Australians. How can we be coming into this house again and again defending the status quo and saying that nothing needs to change.

I’ve spoken to the parliament before, Speaker, about the fact that a low-income young person in our country today is half as likely to own their own home than they were in the year that I was born, and you know what those opposite want to do about that? Precisely nothing.

Well, we have a different point of view, Speaker. We see how much pain this is causing Australians, and to Australians who are watching at home, I want to say to you directly, we see you, we see the pain this is causing for you, we see you doing all the right things and trying to get ahead and not being able to do so. That is why we are standing up and making a change, and if those opposite had any concern for the housing needs of Australians, they would come with us.

In among the motions in the Senate today, there’s a bit of a peculiar motion from Michaelia Cash, looking to amend the hours motion passed yesterday morning to include passing the NDIS bill next Tuesday as well.

If anyone is stressed because both Labor and the Coalition do want this bill to pass, do not worry.

It would be very unusual for Labor to go back on the deal they’ve struck with the Greens just yesterday (particularly when the CGT bill hasn’t been passed yet — today we have still been trudging through second reading speeches in the Senate, and will do so through to 10.30pm tonight).

If anything, this looks like the Liberals creating another opportunity to grandstand on the ‘dirty deal’ between Labor and the Greens, even though based on the second reading speeches we’ve heard so far (which go for 20 minutes per speaker, and rotate between Government, Opposition and cross bench speakers) we’re already hearing it about once every hour whenever the Opposition take their feet.

Sigh.

But if anything weird does happen, we’ll keep you posted.

Rebekha Sharkie gets a question:

In South Australia, we’re dealing with the effects of the algal bloom, and it’s now reported in the media, we had two suspected cases of H5N1 bird flu.
Such an outbreak, much like the algal bloom, would risk environmental, tourism, and agricultural communities. What rapid support will be provided to any impacted primary producers, tourism operators, and environmental groups?

Albanese:

I thank the member for her question, and as she’d be aware, with the Algal Bloom, we work very closely with the Malinauskis government to provide support for industry, but also to provide the sort of research that frankly will help not just people in South Australia, but indeed world-leading research to deal with the challenge that came from the algal bloom. I visited Kangaroo Island in the members electorate to see firsthand the issues, and I met with local fishers and local producers as well in the primary sector, that’s what our government does when a challenge happens.

We work across the board with industry with different levels of government, and I’ve certainly worked with and the member and I had conversations at that time.

We’ll continue to work on this challenge as well, and I’d ask the Minister to update the House

Julie Collins:

I thank the local member for her interest. She, like many members in this place, are obviously concerned about this, not unexpected, but still concerning development in relation to the h bird flu detections.

What I can say is, of course, is I’ve been really clear that we can’t stop the spread of this globally, because we can’t stop migratory birds coming to Australia.

But what we can do is be prepared, and that’s exactly what we’ve done with our early investments, the over 100 and $13 million that we have invested in preparedness, and we’ve done this really closely with the states and territories.

We already have agreements in place with states and territories to provide security incursions and we already have one in place, particularly for bird fluid incursions.

So we have already come to those arrangements and provided monies to states and territories to be prepared, as I said in this place earlier in the week. That has helped them in terms of their laboratory testing, in terms of surveillance equipment, and in terms of a whole range of equipment that they need on the ground to respond, so that has already been provided to states and territories as part of that 100 and $13 million I have today been on the phone to both the Western Australian Minister for Agriculture and the South Australian Minister for Primary Industries in relation to the bird flu and the cooperation that we have been having with their governments, and we continue to work very, very closely with both the Cook and the Malinowskis governments in relation to these protections.

Can I say that they are undertaking testing in their jurisdictions, as you would expect, given the course and the publicity. We have had an increased number of reports, and they are triaging those reports, and then they are doing local testing, and then if anything comes up, they then go to the CSIRO lab for confirmatory testing.

As I’ve indicated, we have had two confirmatory testing from the Western Australian region in terms of those two migratory birds, and I was informed just before question time, we have had another positive test from the CSRO lab, and I’ll be receiving an update from the Chief Veterinary Officer straight after question time, and then I’ll provide an update to the public, as you would expect us to do. But again, I do want to thank the public for their diligence.

Skye Predavec

This morning, New York held its primaries to select candidates for the upcoming American midterm elections in November.

AP projects that all three of the candidates endorsed by NYC Mayor Zohran Mamdani – Brad Lander, Claire Valdez and Darializa Avila Chevalier – won their contests for the House of Representatives. All three are self-proclaimed socialists, and the latter two are card-carrying members of the Democratic Socialists of America just like Mamdani.

As mentioned this morning on the liveblog, the results of these contests were seen as a yardstick for just how far the mayor’s influence goes in his party’s politics, and this clean sweep is about as good as it gets on that front.

At an election night party, Mamdani told supporters the result demonstrated his victory last year was not a one-off, but just the first victory for their movement:

“First and foremost, this is your victory. What you have all shown this evening… is that a year ago it was not the end of a political movement. It was the beginning.”

In amongst all of that, the Coalition had another go about Anthony Albanese’s capital gains tax discounts which he received under the current tax settings when selling his investment properties.

The Coalition want to know why he gets this and others after the change comes into effect early next year, won’t.

This is the usual attack they have on this, but they do manage to argue a way for the question to be ruled in order after referencing a media report.

Albanese:

I haven’t seen the media report, but someone in the media weeks ago was good enough to forward to me the document that was provided by the Liberal Party to them, before they chose not to run the article because of your inaccuracies. I simply say this, Mr. Speaker, that all of my arrangements have been declared appropriately.

What we are doing here, when it comes to housing, is wanting to make sure that just as I had the opportunity way back in my 20s to own my own home over my head when I purchased a property to save the researchers – in Beauchamp Street, Marrickville.

I want young Australians and people who are now in their 20s and in their 30s to have the same opportunity.

The truth is, I didn’t inherit wealth.

What I did was work hard, was work hard, work hard, save for a deposit, and buy my own home.
…If the leader of the opposition wanted to participate, he could have asked the question, mr. Speaker. I make that point, but he didn’t have the ticker, gave it to someone at the back, so I make this point; hat Paula Pierce, a real estate agent in Griffin, just said this about someone who bought a unit on the weekend, her and her partner in their 20s, and it’s their first home.

She told me she had always loved the complex, first home buyers in their mid to late 20s, dominated inspection numbers in the electorate of Fraser in Melbourne.

Justin Lu, the selling agent, four active bidders, all young professionals, first home buyers, took part in the auction in Banks. The electorate of the member for Banks, the first home buyer, outbid seven other parties in Mortgow on Saturday. The successful bidder was a young man buying his first home.

He intends to move in. Mr. Speaker.

We are the party of aspiration. We are the party that want Australians to have access to their own home.

As Amy has noted, Ted O’Brien was laughably trying to make some point at the National Press Club today. His inability to talk about doing a deal with One Nation really should not be that hard given how he described Australians.

In his speech he had this line:

Australians make things happen, not with loud arrogance but usually with quiet confidence. 

I put this down to the way our history has etched distinctive traits into the Australian character – things like humility, pragmatism and positive aspiration.

We’re a humble lot. Our convict roots gave us a lack of vanity and a suspicion of authority, while our rejection of aristocracy embedded a deep belief in equality and the idea of a fair go. We’ve never run the world nor ruled an empire, and we have no plan to do so.

Cripes. “Our convict roots”? Well that rules out everyone in South Australia or those who came after the 1860s.

A “suspicion of authority” Oh my lord. Tell that to every government in the past 25 years that has increase surveillance powers and increased funding to ASIO, ASIS and the AFP. I reminds me of the line cy Clive James (?) that ““The problem with Australians is not that so many of them are descended from convicts, but that so many of them are descended from prison officers.”

Rejection of the aristocracy? Guess we don’t bend our knee to Gina Rinehart or powerful companies – all good because they are not Lords.

Deep belief in inequality and the idea of a fair go? He does realise those on Jobseeker exist around 45% below the poverty line right?

Never run the world? Nope but we have been more than happy to follow the USA in its attempts to do so.

God spare me.

Skye Predavec

Today, a new UN report found that approximately 30% of people killed by Israeli forces have been children, and that these attacks were intentional. 

In the Senate, Greens Deputy Leader Mehreen Faruqi asked Foreign Minister Penny Wong about the report’s findings, and the government’s refusal to label Israel’s actions genocide:

Minister, a new independent UN report has found Israel consistently, directly and intentionally targeted individual children across Gaza. It documents the use of torture, inhumane and degrading treatment including sexual and gender-based violence against Palestinian children. Children, Minister. Children used in target practice by Israeli soldiers. A 15-year-old killed while carrying a white flag. A ten-year-old baby shot dead while being breast-fed. A 3-year-old shot dead in the arms of his father, just last Sunday. More than 20,000 children, dead. It is a wonder that you can look parents in the eye while Australia trades parts and weapons with the perpetrators of these horrors. Minister why won’t the Albanese government end the arms trade and establish comprehensive sanctions against Israel just like we do against Russia?

Wong:

No child should be targeted. We condemn, Australia condemns the targeting of children. We have consistently done so – through this conflict and through other conflicts. We take these reports very seriously. We have consistently advocated for the rights and protections of children, including as a long-standing member of the group of friends on children and armed conflict. And later today, Australia will speak at the United Nations security council in relation to the rising violence against children in situations of armed conflict.

Faruqi:

On one side you have the United Nations, Amnesty International, Human Rights Watch, as well as a host of other expert organisations and scholars world over who have the courage to call this genocide what it is, genocide. On the other side, you have Trump, his far-right US government and its compliant allies like Australia’s Labor government. Minister why won’t you admit that Israel is committing a genocide and call it was it is, a genocide?

Wong:

Firstly in relation to the question on the United Nations, I said in my primary answer, the UN Security Council will be discussing later today, rising violence against children in situations of armed conflict and Australia will make a contribution in that debate. What I will also say is that the Greens political party consistently seeks to misrepresent the government’s positions and actions. The government has spoken many times about what is happening in the West Bank and we have taken action including the sanctioning of several ministers.

Faruqi:

Minister your government has continued trading arms with the genocidal Israeli regime. You’ve refused to sanction the perpetrators responsible for the deaths of more than 20,000 children. What absurd horrors are next? Can we expect to support One Nation and its owner Gina Rhinehart’s suggestion to gift Israel chunks of Queensland to build these kid-killing weapons.

Wong:

Well I remember Pauline Hanson saying this country was in danger of being swamped by Asians and I will never support One Nation.

The Senate Question time has been pretty sedate. LNP senate Matt Canavan was asking about changes to the CGT and trying to get Penny Wong to say the Prime Minister Albanese lied. She is rather too smart for that, so Canavan gets up for his final supplementary question and asked if the government will do a deal with the Greens to introduce a death tax.

Penny Wong tears him a new one, pointing out that he has given up on bothering to debate the tax changes and so had had to drum up a scare campaign about something that is not happening.

Luke Slawomirski

Continuing with the Socialism theme, One Nation Senator Tyron Whitten said that Labor’s capital-gains changes are something “Stalin would have been proud of”.

An interesting use of history. Stalin did not preside over a lightly regulated private investment-property market in which households accumulated wealth through tax-advantaged capital gains. But apparently Stalinism now means a government asking whether the tax system should keep giving preferential treatment to future gains on existing assets.

Labor’s proposal does not abolish property ownership, confiscate homes, or unwind gains already made. It changes the treatment of future capital gains. The existing 50 per cent discount remains for gains accrued before July 2027, while new builds receive more favourable treatment. Not really Bolshevism – just a modest attempt to stop the tax system pushing so much investment into existing housing supply.

Whether the measures go far enough is another question. They are grandfathered, cautious and riddled with protections. But the principle is hard to dispute: tax settings shape where capital goes. It is difficult to profess alarm about young people being locked out of housing, then insist that every concession encouraging investors to outbid them must be untouchable.

Then, almost inevitably, comes the immigration line.

Population growth does add housing demand, but it also stimulates supply leaving the country better off. Blaming migration alone is a way of avoiding the harder questions: why have governments tolerated such an inadequate supply response; why are planning, infrastructure and construction capacity so constrained; and why has housing been treated for decades as a tax-preferred investment vehicle rather than somewhere people need to live? Migrants offer a convenient villain. Public frustration is directed towards newcomers rather than a system that has rewarded incumbent asset owners while renters and first-home buyers fall further behind.

One Nation increasingly looks less like a party of the battlers than a party of the Australian petit bourgeois: anxious small proprietors, aspiring landlords and those who treat any reduction in a tax concession as an assault on freedom itself.

Stalin would likely be confused. The rest of us should be more concerned about a politics that treats tax breaks as sacred, renters as incidental and migrants as a convenient scapegoat.

Milton Dick rules this question out of order immediately:

My question is to the Prime Minister. A new report shows the Prime Minister saved around $200,000 on the sale of three investment properties under existing capital gains tax rules. In last month’s budget, the Prime Minister broke his promise and changed those rules. Given the Prime Minister’s investment success, can he explain why it’s fair for him to personally pocket $200,000 and then pull up this ladder of opportunity from millions of aspirational Australians?

Aaron Violi, the member for Casey (don’t worry – his colleagues forget about him too) asks Claire O’Neil:

This morning, the Housing Minister told the ABC the housing sector was facing a market correction. A couple of hours later, the Treasurer said the housing sector was not facing a market correction, with auction clearance rates now at their lowest levels since the pandemic. Who is telling the truth, the Housing Minister or the treasurer?

O’Neil:

I’m just laughing at how they have to egg each other on. Great question, great question, and it’s not a great question, Speaker. And I think those opposite know it. I want to come back to the central point here, because it is a really important one. House prices in our country have risen by 400% in the last 25 years, and I just want to be really clear and direct with the parliament. We cannot allow that to happen again for another generation.

If we do, our country will be unrecognizable to us. This has already radically transformed what it means to be aspirational in our country. We’ve got a generation of young people who tell us repeatedly in polling that they don’t think they will ever be able to afford a house in our country.

Any government with any sense of integrity and belief has got to stand up and do
something.

Dan Tehan wants her to be relevant. Milton Dick says he will be listening to make sure she is.

I think we see that point of order getting taken because they don’t like to hear the reality of what they’ve done to themselves, and that is, Speaker, that they are the last people in this country standing who can’t see that this housing market is broken, and I’d say to you again, Speaker, if only those opposite, if only those had done something about this problem in the nine years that they sat on the treasury benches, then we might be in a different position, but you chose not to.

…Instead of choosing to do something about this problem, they vacated the field that they chose for the majority of their nine years in government to not even bother having a Commonwealth housing minister and Speaker, in that time in nine years in nine long years around our country I want to remind the parliament how many social and affordable homes they built – 373. 373 Speaker, that is a national outrage.

We’ve got people across that side of the parliament who think that they speak for regional Australia. Well, they chose to build not a single social and affordable home across the entirety of regional and rural Australia.

Now we take a different view.

We see the pain this is causing in the lives of the people, not just that we represent, Speaker, but the people that they represent opposite us. And that’s why we’re standing up and we’re acting. We are pulling every lever that the Commonwealth has available to us.

And I’d say again to those opposite, it is going to be an inauspicious and short leadership under the member for whom I can see that. Let’s hope that the leader that follows him takes a different approach to the housing matter.

From the statement:

The Jewish Council of Australia condemns Israel’s actions in the strongest terms and urges country-level sanctions from the Australian government, following the release overnight of another independent inquiry that has found Israel is deliberately targeting Palestinian children in Gaza.

The conclusions of the report reinforce earlier findings that Israel is committing genocide and are another devastating reminder of the need for the Australian Government to act decisively and sanction the government of Israel and expel its ambassador.

The report by the Independent International Commission of Inquiry on the Occupied Palestinian Territory, has found that approximately 30% of people killed by Israeli forces have been children, and that these attacks were intentional. 

The commission concluded in its report on Tuesday that by targeting children, Israel is undermining the capacity of the Palestinian people to exist and to determine their future. The commission had previously found in September 2025 that Israel had committed genocide in Gaza.

Speaking in response to the release of the report, Sarah Schwartz, Executive Director, of the Jewish Council of Australia said:

“As Jews, we know what genocide looks like. The Holocaust taught us that the world’s failure to act in the face of evidence is something that cannot be allowed to happen again. 

“The evidence here is documented, it is undeniable, and the silence of governments around the world is complicity.

“The deliberate targeting of children is not a military strategy. It is the destruction of a people’s future. The UN has now said this twice. How many times does it need to be said before Australia’s government takes dramatic action?”

Bart Shteinman, Executive Officer of the Jewish Council of Australia demanded immediate action from the Australian Government:

“This report confirms what human rights organisations, legal experts and genocide scholars have been documenting for months and we cannot ignore this as Australians. 

“The Jewish Council welcomed the decision by the  Albanese Government to impose individual sanctions on extremist ministers such as Bezalel Smotrich and Itamar Ben-Gvir but the responsibility lies with the Israeli government as a whole. 

“Children are being killed deliberately, systematically, and in numbers that cannot be explained by any legitimate military objective. That is genocide. And genocide demands a response that holds all actors accountable and forces them to stop.

“We call on the Australian Government to use every power that it has to expand its sanctions regime so that the entire Government of Israel is held to account and feels the pressure needed to force a change in its actions.”

The Jewish Council of Australia reiterates its calls on the Australian Government to expand its sanctions regime, suspend all defence trade and military cooperation with Israel and expel Israel’s ambassador immediately.

Independent MP Sophie Scamps wants to know about local government funding.

Today, all of Australia’s councils undertook the extraordinary step of writing to every federal parliamentarian to warn of the funding crisis affecting local governments across the country, due to the lack of untied federal funding, councils are struggling to deliver essential services and infrastructure, and resorting to large rate rises, including in my electorate of Mackellar. Councils are asking that the financial assistance grants be restored to 1% of federal taxation. Will the government consider this call to the treasurer?

Chalmers (after a bunch of acknowledgements of the local government representatives in the gallery and also the funding the government has provided) says:

I am aware of that additional funding request. I engage with councils and local governments in good faith, because we value the important work that they do in every single community represented here, but we are already providing substantial new funding for councils in the budget, which was only six weeks or so ago.

My question is to the Prime Minister. Core inflation has risen from 3% to 3.6% over the last year, under this treasurer, interest rates have gone up 15 times, increasing the cost of a typical new mortgage by $30,000 a year. Following the treasurer’s failed budget of broken promises and higher taxes, was the treasurer’s promise of inflation has turned the corner a further broken promise, or is it just due to economic incompetence?

Not only does Chalmers get an inflation drop for the second month in a row – he also gets a question from Tim Wilson, who, as regular blog readers would know, is the closest thing we have to a walking AI chatbot. That is not a compliment.

Chalmers is pretty happy:

Nothing darkens their mood like another fall in inflation, and that’s what we saw in the figures today. For the second consecutive month, we saw inflation go down in our economy, which is terribly inconvenient to those opposite, Mr. Speaker, but a welcome outcome nonetheless, Mr. Speaker.

Now, there are inflationary pressures in our economy, and they’re made worse by the war in the Middle East, and this is a point that has been endorsed by the Shadow Treasurer on social media this morning, actually, Mr. Speaker, and what the Shadow Treasurer did, Mr. Speaker, in agreeing that there are inflationary pressures out there, and we’re obviously not complacent about the inflationary pressures that are still in our economy, but he conceded on social media today that the war in the Middle East has made our inflation challenge worse. Mr. Speaker, I’m told that he agreed with that on social media today, but more than that, in his typically helpful way, Mr. Speaker, the Shadow Treasurer has pointed out on social media this morning that inflation has come down substantially, and he attributes that to the budget settings, Mr. Speaker, and I’m not saying he does that deliberately, Mr. Speaker, he does that accidentally, but what he says is, he says that the war in Iran has pushed up inflation in our economy, he points out that it’s come down substantially, that’s also true, and in his usual ham-fisted way, he attributes that to my budget settings, Mr. Speaker, I’m not sure that that was the point that he was trying to make. I’m not sure, but it is very kind of him, very kind of him none the least. I appreciate him every day to particularly today, particularly today, Mr. Speaker, for making that point.

As Chalmers is speaking, Wilson grabs his phone and appears to be checking his social media post. Dan Tehan gets up to claim that the answer is irrelevant. Tony Burke lumbers up to say the question was broad. Milton Dick agrees. Chalmers continues:

I’m asked about inflation and budget settings. I pointed out inflation came down again for the second consecutive month today, and I’ve run through all the other figures in a press conference earlier today, Mr. Speaker. Now, if the shadow treasurer wants to say that all the inflationary pressures in our economy are about government spending, then, by his own admission, the extra $110 billion in commitments that they have made over the next four years would mean higher inflation and higher interest rates, Mr. Speaker.

And so he has to choose, Mr. Speaker. He has to choose, Mr. Speaker. Now, Mr. Speaker, the final point I’d make is this: yesterday I said that one of the reasons why the Liberal Party is dying in the arms of the opposition leader is because he’s trying to out One Nation One Nation and that’s the personal perspective. To be fair to him, Mr. Speaker, there is a second reason why the Liberal Party is dying in his arms, and that’s the member for Goldstein.

Matt Grudnoff

The deal that Labor and the Green’s have struck on tax changes to negative gearing and capital gains tax includes a small change to self-managed super funds (SMSF)s. The SMSF Association is out in the media today saying they are “disappointed” with the changes.

If you have never heard of a SMSF, don’t worry, you’re not alone. Only about 8% of people with super have one. But despite this they control a quarter of all super assets.

As you have probably guessed, they’re mainly used by wealthy. The average balance in a SMSF is $1.6 million, compared to an average of $183,000 for all super accounts.

One of the strange little quirks that a SMSF can take advantage of is it can borrow money to invest in residential and commercial property.

You might think that is pretty weird. Super is about putting money away during you’re working life to save for retirement. So, why would your super fund be able to borrow money?

Apart from for residential and commercial property in a SMSF, they can’t.

Well, now this loophole is now going to be closed by the changes agreed to by the Greens and the Government.

It is straight into it and Angus Taylor is first up – he has dropped the ‘liar’ and ‘lies’ line after he was given a pretty significant warning from the Speaker yesterday over the Coalition’s questions.

So today we get:

My question is to the Prime Minister Labor’s wasteful spending is fuelling core inflation. Labor’s taxes are punishing aspiration, and Australians have suffered the worst collapsing living standards in the developed world. Why are Australians continuing to pay the price for Labor’s economic incompetence?

Anthony Albanese turns it into an early dixer answer (because we will also hear this in a moment in a dixer)

We had inflation figures earlier today that showed a rate of four down from 4.7 We continue, we continue to work on cost of living as our number one priority, and indeed today, of all days, just one week from when a whole lot of those measures cut in is an appropriate time to answer a question about living standards, because next week every Australian worker will get a tax cut, every worker, including a significant increase for those who are on the minimum wage. We know that those opposite were opposed to that, and we’re going to repeal the legislation, just like they’re saying they’ll repeal the legislation that’s currently before the Senate.

So, on July one next week, we have another tax cut for every single taxpayer. They get another one the following July. We’re super paid on pay day, important reform. Importantly, today I met with a lovely couple, and the young Bob, who are getting the expansion of paid parental leave to a full 26 weeks and superannuation paid on paid parental leave, something that some of the leaders of the right wing parties over there and in the other place have said is a waste.

One of the right wing leaders has actually said that pay parental leave is bad because people get pregnant and have a baby just to get paid parental leave. (Hanson)

An extraordinary statement, Mr. Speaker, which I don’t think has been repudiated yet.

We’ve made sure that every single one of our 137 urgent care clinics are now open well before July one, and they will become a permanent part of Medicare after July one.

Our 22 endo and pelvic pain clinics will be expanded to include services for menopause and perimenopause on July one. Our record hospital funding through the National Health Reform Agreement will be delivered $25 billion The $20,000 instant asset write-up for small business will be made permanent, and next week will also mark one year since the launch of our cheaper home batteries program. Our goal was a million batteries by 2030 We’ve seen the extraordinary 450,000 installed families and small businesses permanently cutting their power bills, and we’ll deliver next week our ban on supermarket price gouging.

All of these measures about cost of living, all of them showing what the priorities of this government are, all of them opposed by those opposites.

While the NDIS inquiry has been extended by 8 weeks, yesterday an interim report was still tabled on what was meant to be the final report’s due date.

It gives a fair guide to where everyone sits on this bill, so let’s take a look.

Firstly, it acknowledges the extended inquiry as an opportunity (somewhat patronisingly?) to help the disability community ‘understand’ the Bill.

From Chapter 2.2 of the interim report:

“The committee understands that NDIS participants and their loved ones are experiencing real distress regarding their understanding of the proposed changes to the Scheme. A lack of information and context regarding some of the proposed changes has understandably resulted in individuals attempting to fill the gaps themselves, which has led to some confusion and misinterpretation regarding the bill’s intent and impact. Ultimately, this has resulted in misconceptions circulating in the disability community and beyond…”

However, when it comes to eligibility, 

“The committee recognises that many submitters and witnesses expressed concern that reform to eligibility and assessment requirements may reduce access to supports…” 

and that 

“The committee understands that these reforms will result in people exiting the Scheme where they do not meet the eligibility requirements.”

So perhaps it is not a ‘lack of understanding’ of the proposed changes causing ‘real distress’ amongst the disability community?

Both the interim report and the Coalition’s additional comments also raise concerns of the prevalence of fraud in the NDIS, and on that score, the article Are we being misled about NDIS fraud? Yes we are by Chris Coombes is a worthy read.

The Greens and Senator David Pocock have written dissenting reports. This means they are not in agreement with the views of the committee report, and have written their own.

Among the Greens’ recommendations are that the Bill be withdrawn and that no participant be removed from the NDIS until foundational supports are fully implemented, evaluated and proven to meet the needs of people who will be relying on them.

Pocock has recommended the inquiry be extended, a gender impact assessment with regard to evidence regarding the disproportionate impacts of the reforms on women with disability and carers, and the urgent implementation of recommendations from the Robodebt Royal Commission regarding automated decision making.

With the inquiry now extended eight weeks, but both Labor and the Coalition intent on passing this Bill, Luke Slawomirski is right in his reflections earlier that:

“The government needs to show that people who are moved away from the NDIS will have access to genuine alternatives in health, education, housing, community services and “foundational supports”. So far, the government hasn’t done this.

“The next eight weeks should be used not just to refine the bill, but to demonstrate that the services people rely on will be ready.”

Ted O’Brien has been addressing the press club, which we have mostly ignored for obvious reasons – because honestly isn’t there enough happening in the world without also being inflicted with Ted O’Brien?

It’s a fairly empty room, so it seems like that view is the mainstream one.

But he did get a bit fired up in the last question from Andrew Probyn who would not let Super Ted off the hook on whether or not the Coalition should be preferencing One Nation. O’Brien tried to fob it off, and was told that was a ‘cop out’ which got him quite agitated – he is usually the same beige as a government department office wall, but he became a distinct shade of pale pink at Probyn’s probing.

Let me be very clear. Our objective is to save this country from a very bad Labor government, and that is something I take very seriously. That’s what gets me fired up. This country is going the wrong direction, and I’m fighting for it, and I believe the coalition is the only party, the only group that can save the country, which means our number one job from a political perspective is to maximize our primary vote.

That’s what I’m interested in, because the only way this country is going to be saved from this socialist mob that is getting us poorer by the day is through a coalition government. So my view very staunchly is we go out there and we maximize the vote of the coalition, that’s our job.

As for preference deals and all those sort of things, as has been the case forever, the right time, the political cycle, that’s what will happen. I’m focused on the country and what we can do.

If someone can point to the socialism, please let me know. But also, it shows how O’Brien is of another age (like most of our politicians) because socialism isn’t the election killer it once might have been. I mean, don’t threaten us with a good time Ted!

In the Senate, Mehreen Faruqi – deputy leader of the Australian Greens – has accused Labor of lacking ambition on solving the housing crisis … plus other crises university fees and climate change.

The Senator is calling on the government to remove the grandfathering provisions on the CGT discount and on negative gearing proposed in the budget. The Senator asked defenders of the status quo (i.e. the CGT discount) why they think a dollar earned by apprentice tradesmen or checkout operators should be taxed at higher rates than a dollar earned by investors.

Fair question. In fact, if you think about it, opposing the removal of the CGT discount essentially implies that wage earners are mugs while those who use capital to earn passive income deserve special treatment. A rather bleak and, frankly, dissonant view for a country that supposedly rejoices in the underdog spirit.

David Richardson

Today the International Monetary Fund has published an article that points to the global trend towards nationalisation as a policy designed to change industry outcomes. Hence it says:

Since 2020, governments on every continent have nationalized properties held by their own citizens and by foreign investors. France and Germany took over utility and electricity companies, while the United Kingdom nationalized railways and steelmaking.… The United States took a dominant ownership stake in the country’s only domestic rare earth producer. And a growing list of countries seized foreign-owned resources such as lithium, gold, uranium, nickel, and even palm oil.… Geopolitical instability, commodity market disruptions, and renewable energy development are driving these takeovers and as more governments embrace interventionist economic policies, the current wave of nationalizations shows no signs of letting up.

Australia is not mentioned, no doubt because Australian examples are rare. We can only think of the re-establishment of the Victorian State Electricity Commission, which is not actually a nationalisation but a new public electricity producer designed to compete with private suppliers. 

In the campaign leading up to the 1983 election, Paul Keating as shadow minister for resources promised to establish a publicly owned hydrocarbon authority if Labor won the election. Bob Hawke led Labor to victory, Keating became Treasurer, and Senator Peter Walsh became the Minister for Resources and Energy. The idea of a hydrocarbon authority was never mentioned again. Years before that Australia had a policy of naturalising companies in the resources sector which involved commitments by foreign-owned companies to lift their Australian ownership to at least 50%.

Things could have been very different if Australia joined all the other hydrocarbon producing countries that have national oil and gas companies that directly share in the control of the nation’s resources and, of course, share in the profits. Instead people are clamouring for a 25% tax on gas exports.

Rather than nationalisation, Australia has adopted an industry policy that relies on low-cost loans to private companies engaged in preferred industries. Examples are funds set up to invest in clean energy manufacturing, industrial decarbonisation, critical minerals with the economic resilience program funding fuels, plastics, fertilizers and agricultural protection chemicals. See here.  

Australia left behind its privatisation agenda years ago but as the pendulum swings back maybe we should revisit the scope for nationalisations. There might also be a case for nationalising companies such as KPMG that have outworn their social licence.

Further to Matt’s earlier post about the inflation figures, in May overall inflation fell 0.7% and around two-thirds of the reason was the drop in petrol prices.

The good news is that because the CPI figures do a monthly average there should still be another fall in the June figures.

April saw average prices fall 7% from March and then May had an 11.9% fall. Right now, June is looking like another 9% fall

But he did seem happy that people showed up.

Jim Chalmers has held a press conference on the inflation figures, but here is the statement his office put out where he said much the same thing:

New figures from the Australian Bureau of Statistics show headline inflation fell in both monthly and annual terms.  

Inflation came off substantially in the month of May and moderated in annual terms.  

This is the second consecutive month that headline inflation has moderated.  

Today’s data was much better than market expectations and forecasts. 

Headline inflation fell 0.7 per cent in the month of May 2026, down from a rise of 0.4 per cent in April. 

Headline inflation was 4.0 per cent in the 12 months to May, down from 4.2 per cent in April. 

We already had an inflation challenge in our economy but the war is making it higher than it would otherwise be. 

The initial impact on inflation from the conflict came from fuel, but we see it broadening today in other areas such as dwelling construction costs. 

Trimmed mean inflation was 3.6 per cent in the 12 months to May, compared to 3.4 per cent in April.   

Automotive fuel fell again in the month, demonstrating the important role of the Government’s cut to the fuel excise. Automotive fuel fell 11.9 per cent in the month but was still 7.7 per cent higher in through the year terms.  

The extension and tapering of the fuel excise cut this week provides cost of living help and recognises there is still uncertainty in the Middle East and the costs and consequences of the war will play out for some time. 

We’ve seen inflation tick up around the world in the most recent data including in Canada, the United States and Europe but it has come down again here. 

Inflation remains much lower than we inherited. 

When we came to office, headline inflation was north of six per cent and rapidly rising, it’s now much lower than that. 

Underlying inflation was around five per cent but it is now much lower. 

We understand people are under pressure which is why we are rolling out responsible cost of living relief including cutting taxes five times in three ways, cheaper medicines and extending the cut to the fuel excise. 

From next week, more than 14 million Australian taxpayers will get another tax cut, the National Minimum Wage will increase by 6 per cent, we’re extending paid parental leave, and around 2.6 million Australians will benefit from regular indexation of social security payment rates and thresholds. 

Our economy is not immune from global uncertainty and volatility, but we’re well placed and well prepared to confront it with faster growth than almost every major advanced economy, booming business investment, low unemployment, solid wages growth and stronger public finances. 

Matt Grudnoff

Prices fell 0.7% for the month of May and were 4% higher than they were a year ago, which was down from 4.2% last month. The underlying measure of inflation (the trimmed mean) was 3.6% higher for the year, a rise from 3.4% last month.

The price drop was driven by falling fuel prices, with automotive fuels falling 11.9% since last month. Automotive fuel prices are close to what they were before the US and Israel attacked Iran.

The big driver of inflation continues to be housing, which increased 6.5% for the year. This was a slight increase from 6.3% last month. The biggest contributor to this was electricity, but these figures are warping the result because they include big rises after the ending of federal and state subsidies. Excluding these impacts electricity prices are up 3.9% for the year.

For those building a new house, prices have increased by 5.6% for the last 12 months, which is higher than last month when the annual increase was 4.7%.The higher prices are because project home builders have increased prices because of rising material and fuel costs.

The increase in rents was roughly steady this month, increasing 3.6% over the last year.

Overall housing contributed about a third of all the inflation over the last year.

The second biggest contributor to inflation was food. It was up 3.3% for the year. The main driver of this was restaurant and take away meals. They rose 4% for the year.

Another important area that is slowly adding more to inflation is insurance and financial services. This doesn’t get as much attention but rising insurance costs are growing month on month. Over the past year insurance premiums have increased 5.5%. This excludes health insurance which is recorded separately. This is being driven by higher claims caused by disasters largely driven by climate change.

This week Pauline Hanson has been trying in vain to find a policy position on paid parental leave, and last week at the National Press Club she very much came out against child care.

Today the ABS has released its latest survey on the barrier to work and more than a quarter of women aged 18-64 who were not retired but would like to work, or would like to work more hours cited child care as the main reason for not doing so.

By contrast just 2% of men cited this reason

Paid childcare and paid parental leave are vital economic as well as social measures. They do more than anything else to enable women to work – and to ensure they do not lose out on experience, promotions, income and wealth.

Consider the difference in labour force participation back in the early 1970s

Compared to more recently

There is no reason to go backwards 50 years.

The AFR reported late yesterday that Chris Bowen has asked the regulator to look at power supply charges, after jumps in consumer charges.

The masthead reports from the letter:

I would expect then that households and small businesses should be experiencing a decline in costs overall,” Bowen wrote in the letter to ACCC chairwoman Gina Cass-Gottlieb and AER chairwoman Clare Savage, citing the recent AER decision.

I wish to raise these concerns with you and would welcome joint advice from the AER and the Australian Competition and Consumer Commission to inform my response to the changes in pricing structures.”

As Skye reported earlier there are some important election races happening in New York at the moment – and as she pointed out, Brad Lander, who was one of those NYC Mayor Zohran Mamdani had endorsed, was well in front in the polls. And so in front in the primary count, he has already been called the winner by some news agencies.

From the ABS:

The ABS has released it’s latest inflation update:

The Consumer Price Index (CPI) rose 4.0 per cent in the 12 months to May 2026, according to the latest data from the Australian Bureau of Statistics (ABS).

Rachael McCririck, ABS head of prices statistics, said: ‘Annual CPI inflation in May was 4.0 per cent, down from 4.2 per cent in the year to April.’

The largest contributor to annual inflation in May was Housing, which rose by 6.5 per cent. This was followed by a 3.3 per cent rise in Food and non-alcoholic beverages and a 3.3 per cent rise in Transport. 

When prices for some items change significantly, measures of underlying inflation like the Trimmed mean can give more insights into how inflation is trending. For example, Automotive fuel was excluded from the Trimmed mean in March, April and May 2026. 

‘Trimmed mean annual inflation was 3.6 per cent in the 12 months to May 2026, up from 3.4 per cent in the 12 months to April 2026,’ Ms McCririck said. 

Annual Housing inflation was 6.5 per cent in the 12 months to May. This reflects rising costs for Electricity, New dwellings and Rents. 

‘Electricity costs are 21.1 per cent higher than 12 months ago as Commonwealth and State government rebates that reduced electricity costs for households are no longer in place,’ Ms McCririck said. 

Annual inflation for Food and non-alcoholic beverages was 3.3 per cent, up from 2.8 per cent in April. Food inflation was driven by higher prices for Meals out and takeaway, which rose by 4.0 per cent in the 12 months to May 2026.

‘Price growth for Transport eased from what we saw in April, rising 3.3 per cent in annual terms, down from a 6.6 per cent rise in the 12 months to April 2026. 

‘On a monthly basis, Automotive fuel prices fell 11.9 per cent in May, after falling by 7.0 per cent in April. 

‘These monthly falls include the impacts of the halving of the fuel excise on 1 April and lower world oil prices in recent weeks,’ Ms McCririck said.

Nick Wilson  for AAP

Karl Stefanovic’s now-deleted podcast interview with a British far-right activist has landed the host in hot water with employer Nine, which says it is taking the matter seriously.

The host of Nine Network’s flagship breakfast show, Today, interviewed controversial anti-Islam figure Tommy Robinson for his podcast, saying he admired Robinson’s “tenacity” and “courage”.

The almost-hour-long episode on the Karl Stefanovic Show, which is run independently of Nine, was published on Tuesday evening but was pulled down by the following morning.

However, the episode has since been resurrected on YouTube by Pauline Hanson, who Robinson praises several times during the interview.

In its strongest statement about Stefanovic’s contentious foray into podcasting, Nine said on Wednesday morning it is taking his most recent episode “seriously”. 

“The Karl Stefanovic Show is a completely independent production,” a Nine spokesperson told AAP. 

“Nine has no involvement, including in the guest selection and other editorial processes. 

“However, Nine is taking this matter seriously.”

Stefanovic described Robinson as one of Britain’s “most controversial public figures” in a segment at the beginning of the podcast. 

“I really do admire your tenacity and the courage that you’re showing in trying to stand up for what you believe is right,” he said during the interview.

Why the episode was taken down or who made the call is not yet known, though it has been removed from Stefanovic’s YouTube channel, Spotify and Apple Podcasts.

The One Nation leader posted the video on her YouTube channel on Wednesday morning, claiming Nine was “trying to sack my good friend Karl Stefanovic”.

Robinson, whose real name is Stephen Christopher Yaxley-Lennon, is a prominent far-right  activist and founder of the anti-Islam English Defence League movement.

He has been banned from several social media platforms for violating rules on hateful conduct and hate speech and has multiple criminal convictions.

During the roving discussion, the pair touched on populist, far-right politics in the UK, the US and abroad.

“I love her, Pauline,” Robinson said of the insurgent One Nation leader, the first guest to be featured in the inaugural episode of Stefanovic’s podcast.

“She’s been through what I’ve been through: she’s been condemned, attacked, battered, every name under the sun.

“And here she is, she’s carried on against all of that backlash.”

While the full interview has been scrubbed, a promotional clip and an interview snippet remain active on Stefanovic’s X account.

In one clip, Robinson speaks to the costs of speaking out about immigration and Islam, touting his own experience being deplatformed from social media. 

Stefanovic opened the interview by saying: “I’m surprised you’re not dead yet”.

The pair are seen walking side by side, Robinson wearing a “unite the kingdom” T-shirt, the name given to a series of large-scale anti-immigration rallies in London.

Prompted to finish Robinson’s sentence, Stefanovic describes Keir Starmer, the outgoing UK Labour prime minister, as a “wanker”. 

“We speak to Tommy Robinson. The guy you’ve all been asking for,” the caption reads.

“The ultimate disruptor. Many say, a voice for the people.”

Stefanovic has been contacted for comment.

Angus Taylor’s spinners have had the night to think on a new way to answer the – do you think Australia should have one culture like Pauline Hanson wants question – which is more than he had yesterday when he was asked at least four times and couldn’t string any words together other than ‘values’. Which, for a Rhodes scholar, you’d really expect more.

He was asked again in a friendly interview on Sydney radio 2GB and managed:

Do you think Australia should have one culture?

No. But I also think we should have a common set of values we all agree on. I mean, we need every Australian to believe in our system of law, to believe in our basic freedoms, to believe in our parliamentary democracy, and people have been coming to this country, in recent times, who do not believe in those things, and that should not happen. 

Now, enforcing that and making sure that people who come to this country contribute to this country and commit to it, that’s not a monoculture. That’s not a monoculture. But it is requiring that people adopt Australian values. They are not welcome if they’re not prepared to do that. Now, you can call that whatever you like, but I just think that’s common sense. And I’d rather talk about common sense on this than these labels that people love to give. You know, it is a version of multiculturalism, but I tell you, what I’m talking about, it is not Labor’s multiculturalism where they simply say anyone can come here with any culture and it’s all okay. Well, if someone comes here with ISIS culture, Islamic State culture. No. No. That’s exactly why we ended up with what we had at Bondi at the end of last year. 

And I think this is where Australians can agree, we do accept that we’ve had magnificent people coming from Italy and Greece and all over the world, over time. And I grew up in a wonderful town, Cooma, where we saw that from the people that came out to work on the Snowy after the Second World War. That is fantastic. But they all became Australian and adopted our core values even though they were still eating their food and wearing their clothes and all of those things from the place they’d come from. That’s the Australia we believe in.

You’ll notice he only named white countries there as ones he thought were wonderful. And to claim that Labor is ‘OK’ with ‘ISIS culture’ is a pretty insane thing to say, given he would have an understanding of our national security laws.

He can’t say Muslim – he doesn’t have the same pass as Hanson to do stunts like that. So he says ‘ISIS’ knowing that people will hear the dogwhistle. Which is ignoring that all religions have fundamentalists who abuse and exploit scripture and religions for their own warped view. But Taylor only mentions ISIS. Youknow why.

After promoting his interview with UK fascist Tommy Robertson (who has been convicted of assault, fraud and a lovely slew of other things) and who has been at the forefront of agitating for race riots in the UK, one of the highest paid people in Australian television, Karl Stefanovic has had to take his podcast featuring Robinson down. We’ll let you know why when we get the official reason.

But fear not – he is not announcing that he has Barnaby Joyce (who we assume is in the UK for the same reason as Bridget McKenzie – to attend a rightwing conference funded by a different rightwing media baron, just, you know – something different – and Holly Valance on his next podcast.

Valance was a Neighbour’s regular and one-time pop star who then married a billionaire and has since taken on all the very boring tropes of the far right grift. Pauline Hanson loves her, so it makes sense that Stafanovic is now also dancing to her tune.

So today Bridget Mckenzie has continued the LNP’s rather weird strategy of trying to sound more like One Nation than One Nation. Just as with Angus Taylor avoiding saying anything about multiculturalism, such a strategy never works, because if voters want the pure undiluted racism, they know where they can get it.

McKenzie, as Amy reported earlier is going after universities (ahhh the standard line, so sweet that the greatest hits of culture wars remains on the turntable, lo these many years).

She was over in London (why bother turning up to work in the Senate, eh?) and in a speech to the Annual Conference of Conservative Nutbags (probably not the full title) she argues unis are infecting students with “white guilt” and stories of the “climate catastrophe”. And even worse these uni students, many of whom go on to be teachers, then take that ideology and infect school students.

Seriously unhinged, but oh well.

I’ll leave the white guilt dog whistle to others, but on the climate catastrophe, I’ll just note that the latest figures for May showed it to the be the second hottest May on record

And global temperatures are rising so fast that for temperatures to get back to the 2010 then record high, let alone the 1997 then record high, they would need to fall by an unprecedented rate

Anyway, that seems to me to be something worth teaching.

Luke Slawomirski

The Senate inquiry into the Government’s proposed NDIS overhaul has been extended until 14 August – a welcome recognition that changes of this scale need more than a rushed consultation process.

The inquiry received over 4,000 submissions in little over a fortnight.

The NDIS should be sustainable. Fraud and poor practice need to be addressed. But sustainability cannot mean shifting unmet need onto families, state systems, emergency departments and public hospitals.

The government needs to show that people who are moved away from the NDIS will have access to genuine alternatives in health, education, housing, community services and “foundational supports”. So far, the government hasn’t done this.

The next eight weeks should be used not just to refine the bill, but to demonstrate that the services people rely on will be ready

Alice Grundy

Ross Gittins’ column in the SMH today highlighted that when the Albanese Government announced reforms for gambling advertising it was on the day before the Easter long weekend. 

He notes how the announcement was largely greeted by silence. 

“I’m sure you’re aware of the huge fuss business people are making about Albanese’s plans to change the taxation of their capital gains. Have they made much noise over the crackdown on gambling ads?

As far as I can tell, we haven’t heard a word of complaint. Makes you wonder whether the industry – which no doubt has been lobbying hard behind the scenes – knows it’s been let off lightly and shares the government’s desire to hush the whole thing up.”

This is an issue on which the government has plenty of support to act. As Australia Institute polling shows, three in four (77%) of Australians would support a ban on gambling advertising. 

And just a reminder that Australians are some of the biggest losers in the world. In a year, Australians lose more than Las Vegas. 

As Gittins says, 

“Governments have long understood that gambling isn’t like ordinary commercial transactions. Like alcohol and smoking, consumption can become addictive to the point of damaging people’s health. Spending on the addiction may cost so much that the addict’s family lives in financial misery.”

Rod Campbell

The Australia Local Government Association (ALGA) is having its general assembly this week.

As AAP reports, councils are to vote on  a City of Sydney-led motion to set up a fund earmarked for climate change-fuelled damage supported by levies or taxes on oil, coal and gas companies, which are key contributors of greenhouse gas emissions. 

The key problem is that climate costs are increasing rapidly, while council revenues are increasing slowly. Here’s a chart we published last year:

The proposed levy is similar to the climate disaster levy that we’ve been calling for for some time.

My long running joke on negative gearing is that if you were a real estate agent the best thing you could do is set up a booth at the nearest medical conference because doctors of all types absolutely love to negatively gear.

The latest tax stats out last week confirm this.

The occupations with the highest percent of people running a rental loss are

·                     Surgeon – 27.1%

·                     Anaesthetist – 26.6%

·                     Engineering manager – 24.5%

·                     Internal medicine specialist – 23.4%

·                     Psychiatrist – 22.7%

·                     Median of all occupations – 7.1%

So if you’re ever wondering what the surgeon and the anaesthetist are talking about while you’re knocked out, chances are it is their latest investment property.

This isn’t a shock really, across all occupations the more you earn the more likely you ae to negatively gear

The same also applies to capital gains. But what is interesting is those occupations which have a greater or lesser tendency to negative gear compared to just earning capital gains.

Financial investment advisors and mangers love to earn capital gains, but not so much negatively gear. Clearly their gains come from shares and other investments. The same is true for financial dealers and economists.

On the other side surgeons and anaesthetists and school principals much prefer to negatively gear than earn capital gains via shares etc

I’m pretty sure Mark Twain had something to say about baby nappies and politicians, but there has never been a baby that doesn’t elicit this face from Anthony Albanese.

The man loves babies. He’s a pretty emotional dude at the best of times, but when it comes to babies he loses all focus.

He got to cuddle one this morning in his office as part of Labor’s paid parental leave extension push – which has become all the more important since it’s another point of difference between Labor and One Nation.

The baby did not seem fussed.

Greens senator Penny Allman-Payne has slammed the government’s plan for the aged care system. A consensus report following a senate inquiry into the plan found that the government should not proceed with “its plan to fold the Commonwealth Home Support Program (CHSP) into the newly created Support at Home (SAH) system, which after only eight months is already creaking under the weight of its flaws”.

Allman-Payne pointed to this part of the report:

“[I]f similar changes are made to the existing co-contribution model for CHSP 
services, this will significantly increase service costs, resulting in older people, particularly those who face the greatest vulnerability, foregoing necessary care when they need it in order to afford other basic essentials. This in turn would entirely undermine the preventative intent of the CHSP by further accelerating cognitive and physical deterioration, driving older people into higher cost and more intensive models of care and hindering independence.” – Natalie Siegel-Brown, Inspector-General of Aged Care

“Most CHSP providers are not-for-profits or charities and are often delivering early childhood services or homelessness services, saying: ‘We’ll just do those things. We won’t do aged care anymore because it’s too hard.’ That would be an absolutely devastating blow, particularly to small communities.” – Tom Symondson, Ageing Australia

“Small, specialised, and community-based organisations are particularly vulnerable. The loss of such providers would erode critical community infrastructure, remove local capacity, reduce choice for older people, and leave entire regions or communities without essential services.” – Australian Association of Gerontology

Allman-Payne:

Labor’s reckless proposal to kill off the CHSP has no friends. Advocates, providers, unions, experts, First Nations organisations, local governments – no one wants this.

By rushing into yet another massive change to the aged care system without adequate data or a clear plan, Labor is putting older people’s lives at risk.

It is entirely inconceivable how Support at Home – a system already under massive strain – will cope with an additional 800,000 people being forced onto it as soon as a year from now.

Nearly a million people will suddenly find themselves trapped in a rationed, market-based system, treated like revenue streams and forced to make choices about what essential care or support they’ll have to sacrifice.

This model is more of the same right-wing market fundamentalism that Labor is in love with, despite the fact that it consistently fails to meet people’s care needs.

The CHSP provides a vital service affordably to older Australians. Instead of eliminating it, Labor should listen to the evidence and start funding it properly.”

Alice Grundy

This week there have been two (quite different) stories of private religious schools facing very public problems. 

In the AFR this morning, there are questions whether Edmund Rice Education Australia, which operates dozens of schools, may be drawn into the collapse of the Christian Brothers. The Christian Brothers may face bankruptcy since they have to pay compensation to thousands of victims of clerical abuse. 

On Monday the editorial in the Sydney Morning Herald followed on from an investigation in that paper about serious allegations against the Redeemer Baptist school. 

As the editorial says, 

“This case highlights a reality of Australia’s schooling system, that independent schools in Australia, the vast majority of which are religious, are at liberty within certain constraints to espouse the values of their religion which in NSW schools ranges from mainstream faiths to Scientology, and still receive public funding.

…

Many have argued against funding for private schools for many years, or called for greater transparency over their use of public money, but there is no political appetite to act.”

Jane Caro’s recent Vantage Point essay, Rich Kid Poor Kid, The battle for public education takes up this very conversation both explaining how Australia reached this point and discusses some ideas for turning things around. 

David Crowe from the SMH and Age has reported on Nationals senator Bridget McKenzie’s London speech to the Alliance for Responsible Citizenship (a group started in 2023 originally funded by the owner of the rightwing British broadcaster, GB News with the aim of restoring ‘traditional western values’ – whatever that means) where she has proclaimed universities which teach history should have their funding cut.

She didn’t put it that way – she called it ‘white guilt’. As Crowe reported:

 McKenzie blamed universities for spreading ideologies to teachers that were then passed on to young students.

“If a student teacher spends four years being grounded in white guilt, victimhood, climate catastrophism or even antisemitism, that is what gets passed on behind the closed doors of a classroom,” she said.

“But Australia’s literacy and numeracy scores have been sliding for years, and the education industry responds by questioning whether the OECD [Organisation for Economic Co-operation and Development] has got its methodology right.”

AAP

Israeli authorities ‌and security forces deliberately targeted Palestinian children, resulting in genocide, crimes against humanity and war crimes in Gaza, and war crimes in the occupied West Bank, an independent UN inquiry says.

The ‌report by the UN Independent International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel examined violations against Palestinian children since the start of the war between Israel and ‌Hamas on October 7, 2023.

Around 30 per cent of those killed in the Gaza war were children, the report found.

A previous report by the commission in September found Israel had committed genocide in Gaza and that top Israeli officials including Prime Minister Benjamin Netanyahu incited these acts – accusations that Israel called scandalous.

Israel’s mission in Geneva said Israel rejected what it called the Commission’s “second defamatory advocacy report”.

“Israel dismisses this libelous sham,” it said in a statement, adding “every child deserves protection” and asserting that the report ignored “the brutal tactics of Hamas”.

The UN commission said Palestinian children were deliberately ‌targeted and killed ‌during the war, including after a ⁠ceasefire came into effect in October 2025. It said this was a key element establishing genocidal intent by Israeli authorities and ​security forces to destroy the Palestinian group, in whole or in part, in Gaza.

“The evidence shows that Palestinian children have been deliberately targeted and killed by the Israeli security forces,” said Srinivasan Muralidhar, the commission’s chair, in a statement accompanying the report.

The report found the proportion of children killed was higher than in previous conflicts. Between October 7, 2023 and October 7, 2025, at least 20,179 children were killed, around 30 per cent of the overall death toll.

By comparison, in hostilities in Gaza in 2008-2009 and 2014, children made up approximately 24 per cent of conflict-related fatalities, the report said.

Israeli ⁠forces continued to use high-payload munitions and weapons with wide-area effects in densely populated residential areas despite mounting ‌child casualties, the ​commission said.

“This indicates that such attacks, which killed children in such high numbers, were intentional,” it said.

The commission said it believed children were targeted collectively because the Israeli security forces considered the ​civilian population as ‌a whole to be associated with Hamas and other armed groups.

A rebuttal shared by Israel’s mission in Geneva said Israel “consistently strives to minimise harm to children even in situations ​of conflict” and that Israel rejected the suggestion it deliberately targets children “in the strongest terms”.

Muralidhar said by targeting children, Israel was undermining the capacity of the Palestinian people to exist and to determine their future.

Conditions imposed by Israel in Gaza, including widespread attacks, repeated displacement and starvation caused by the blockade of aid, food and ​medicine, severely ​harmed children’s health and development, resulting in preventable deaths and trauma, the report ​said.

Israel’s rebuttal said the report failed to mention Israel’s role in facilitating vaccinations and the entry of medical staff, and the establishment of field hospitals. It accused Hamas of systematically diverting humanitarian aid and fuel for hospitals. Hamas has rejected such accusations.

In the West Bank, including East Jerusalem, the Commission found a sharp increase in violence by Israeli settlers against Palestinian children and documented evidence of torture, including sexual and gender-based violence, during mass arrests and detention.

It said Palestinian ​children, particularly boys, were subjected to systematic mistreatment in detention, including forced stripping, beatings and food deprivation.

The commission concluded the treatment constituted the crimes against humanity of torture and ​other inhumane acts causing great suffering or serious injury.

Israel’s ⁠rebuttal said the report’s findings on the West Bank omitted context on the “constant terrorist threat” that it said Israeli security forces ​were responding to.

Lifeline 13 11 14

Kids Helpline 1800 55 1800 (for people aged 5 to 25)

1800 RESPECT (1800 737 732)

National Sexual Abuse and Redress Support Service 1800 211 028

After Pauline Hanson questioned whether paid maternity leave should exist (which she later narrowed to businesses shouldn’t have to pay employees maternity leave, but left it open for government payments) Labor has been really pushing its paid paternity leave extension. Really pushing it. The latest change will come into effect next week and will increase the number of paid weeks to 26, which is backed by the government. The full entitlement is worth about $30,000.

Here’s Labor’s latest sell:

The changes that come into effect on 1 July mean:

• More time – parents welcoming a new baby or adopting a child will be able to access up to 26 weeks of Paid Parental Leave, giving families more precious time at home with their newest member.
   
• More money – parents receiving Paid Parental Leave will receive a higher rate of payment from 1 July, increasing to $1,004.70 per week. Parents have also received superannuation on their Paid Parental Leave since 1 July last year.
   
• More people eligible – annual income limits for Paid Parental Leave will rise, with the individual income limit increasing to $186,487 and the family income limit increasing to $386,525.

Anthony Albanese, Katy Gallagher and Tanya Plibersek all got billing on the press release (in that order) but here is what Plibersek who oversees the portfolio had to say:

Labor’s changes to Paid Parental Leave mean working parents get more time off and more money when they welcome a new arrival into their family.

It was a Labor Government that introduced Paid Parental Leave in this country, and now it’s the Albanese Labor Government expanding it to six months of leave.

Skye Predavec

This morning, four US states are holding primaries to select candidates for the upcoming midterm elections in November. While there are some notable contests in all of them, New York has several fiercely contested primaries with major implications for the future of the state’s politics.

New York City Mayor Zohran Mamdani, who captured international attention with successive upset victories last year, has endorsed three fellow socialists for the House of Representatives – Brad Lander, Claire Valdez and Darializa Avila Chevalier.

Mamdani has campaigned extensively with all three, including in a viral Knicks-themed commercial after the first game of the NBA finals. Victory, or defeat, for Lander, Valdez and Chevalier will show just how far the mayor’s influence goes.

Their races will also be closely watched for what they say about the future of the Democratic Party – all three are socialist, pro-Palestine and fiercely anti-Trump voices who would represent a more progressive direction for America’s oldest political force.

Opinion polls suggest Lander will get an easy win, while Valdez and Chevalier’s races remain tight. But of course, the only poll that really matters is election day, and results should flow in quickly after voting closes at 11am Australian Eastern Time (9pm in New York, 9am in WA and 10:30am in SA/NT).

The War Memorial extension was opened by Anthony Albanese overnight, with every living member of the Australian Victoria Cross invited to attend. Late yesterday it was announced that alleged war criminal Ben Roberts-Smith, would not be attending, despite his bail conditions having been altered to allow for travel to Canberra for the event.

The redevelopment has been costed at $550m and includes the memorial’s atrium and Anzac Hall, a gallery that focuses mainly on Australia’s commitments to the Middle East, Afghanistan and peacekeeping operations.

Mike Bowers was on hand for the event:

Hello and welcome back to The Point Live where we have made it to Wednesday of the sitting week. Just.

It’s CPI day, so we will get the latest inflation figures from the ABS. Most economists are expecting to see a rise. That matters in these days where the RBA seems to look for any reason at all to raise interest rates to try and ward off price rises the average consumer can not control. The last rate rise was basically in anticipation of increased spending that might occur once inflation eases, so who knows what the RBA will do with today’s data (which is a month behind).

Anyways.

In other news, renegade Liberal MP Andrew Hastie has been praised by Labor MPs, including Clare O’Neil, for urging his colleagues to push back against One Nation in the Coalition party room meeting.

Hastie told the meeting that he has had to increase security in his home, after One Nation supporters and Ben Roberts Smith supporters took umbrage at his testimony against BRS in a civil trial. But Hastie also urged his party to push back against One Nation, saying he would ‘rather be taken out in a box’ then “bend the knee” to Pauline Hanson led party.

O’Neil, who has been pushing Labor to take a harder stance, praised Hastie on her social media.

Yesterday, Liberal leader Angus Taylor was unable to say whether or not he supported multiculturalism when he was asked. Multiple times. It gave Labor a bit of an oomft in QT, where the government was able to take charge of the session, making Taylor’s multiple failures to state a position on multiculturalism it’s key point. Taylor just rabbited on about ‘Australian values’ but it remains unclear what they are.

There will be more fun and games today no doubt. The fuel excise change (which extends the excise cut, at a reduced rate for another month) passed the House late yesterday and will head to the senate today, and there are other bits and bobs from the budget Labor wants through.

But mostly, the main game is the cost of living, and how to handle One Nation. We’ll be keeping an eye on all of that as it happens. Along with at least five coffees this morning. A migraine hangover meant I only got about three hours sleep, which is not ideal, but then you all make it worth it.

So ready to jump into the fray?

Let’s do it.