This week, Australia’s pollies offered a glimpse into the policy priorities that may define the coming term of Parliament.
In a significant moment for the Liberal Party, Opposition Leader Sussan Ley addressed the National Press Club (NPC) on Wednesday, marking the first appearance by a Coalition leader since Scott Morrison’s in 2022. Her decision to front the media drew a clear contrast with Peter Dutton, who faced criticism for avoiding scrutiny during his tenure as leader. While acknowledging the symbolic nature of her leadership, particularly in light of the Liberal Party’s struggles with female voters, Ley avoided making gender the centrepiece of her address. Instead, she advocated for increasing female representation in the Coalition and expressed in-principle support for gender quotas, while deferring the decision to state branches. Ley also recognised the party’s eroding support among metropolitan voters and emphasised the need to rebuild trust. As part of a broader policy reset, she announced the formation of a Coalition working group on energy and emissions reduction, led by Dan Tehan, aimed at restoring the party’s credibility in climate and energy policy.
Elsewhere, newly appointed Assistant Treasurer Daniel Mulino addressed the AFR’s Insurance Forum. Mulino pointed to the increasing frequency and severity of natural disasters as a major factor driving up premiums, leaving disaster prone households either underinsured or uninsured altogether. Mulino called for long-term structural reform, urging insurers to improve transparency and efficiency. Additionally, Mulino highlighted the need for insurers to consider household-level risk mitigation efforts – such as retrofitting homes – when deciding insurance premiums. Mulino’s comments reflect the mounting pressure on the insurance industry to better respond to climate risks and protect the nation’s vulnerable communities.
Top talking points
🛡️ NATO Summit: Richard Marles attended the NATO Leaders’ Summit at The Hague.
💼 Insurance Forum: Dr Daniel Mulino spoke[paywall]
at the AFR’s Insurance Forum, addressing key issues facing the insurance sector.
📺 YouTube: Although initially excluded from the federal government’s social media ban, the eSafety Commissioner advised that YouTube should be captured.
🌍 Israel-Iran: Penny Wong suspended operations at Australia’s Embassy in Tehran.
Making headlines this week
New South Wales and Queensland Budgets Delivered
The New South Wales and Queensland Governments delivered their 2025–26 Budgets. New South Wales Treasurer Daniel Mookhey unveiled key housing and industry policy initiatives, whilst Queensland Treasurer David Janetzki delivered his first budget as Treasurer. You can read GRACosway’s full insights on the New South Wales Budget here and the Queensland Budget here.
Victoria Gas Plan
The Victorian Government will mandate the phasing out of ageing gas hot water systems, but continue to allow gas heating and cooktops, following the release of the Gas Security Statement. Additionally, rental properties will be subject to improved Minimum Energy Efficiency Standards, including the electrification of appliances. Alongside other changes, these measures will reduce the state’s reliance on gas as the state transitions to net zero.
Things to watch
📊 30 June, CEDA Queensland State Budget address.
📅 1 July, CEDA South Australia State Budget address.
🎤 2 July, Fijian Prime Minister Sitiveni Rabuka will address the National Press Club.
🧱 2 July, ABS Building Approvals Data.
⚡ 3 July, CEDA New South Wales Energy Outlook 2025-26.
🏥 3 July, CEDA Queensland Health Rescue Plan Update.
CPI data, ASIC and APRA updates, and cost of living measures
The ABS released its monthly CPI indicator, revealing that CPI rose 2.1 per cent in the year to May 2025, the lowest increase since October 2024. Treasurer Jim Chalmers stated that inflation has returned to the bottom half of the RBA’s target inflation band, the first time since August 2021.
Equity Trustees has been fined $56,340 for making misleading statements about its ESG investments, understating its exposure to government and supranational bonds.
APRA finalised changes to how authorised deposit-taking institutions (ADIs) must account for student loan (HELP) debts in residential mortgage assessments. While APRA expects an ADI to consider a borrower’s HELP debt, it will allow them to factor in the applicant’s circumstances. Additionally, an ADI will be able to remove HELP repayments from its assessment where a borrower is expected to pay off their debt within 12 months.
From 1 July, several of the Federal Government’s cost of living measures will take effect, including an increase to the national minimum wage, higher employer superannuation contributions, and a 20 per cent reduction in student loan debt
High level talks, trade updates, and AUKUS
Minister for Defence Richard Marles attended the NATO Summit, where he agreed to send 100 ADF personnel and an RAAF E-7A Wedgetail to protect the international gateway that transports humanitarian and military assistance into Ukraine. However, Australia did not join NATO members in their pledge to increase defence spending to 5 per cent of GDP.
Australian and Chinese officials held the eighth High Level Talks on the Pacific, discussing regional priorities such as climate change, economic development, security, and fisheries and maritime issues.
Austrade led a trade mission to Malaysia to identify opportunities in the green economy, with the Australian delegation set to attend the 2025 Energy Asia Conference in Kuala Lumpur.
The Federal Government signed a Memorandum of Understanding (MoU) with the African Continental Free Trade Area Secretariat to promote mutually beneficial partnerships and facilitate trade between Australia and Africa.
Western Australian Premier Roger Cook flew to the United Kingdom this week to strengthen AUKUS ties and unlock opportunities for Western Australian businesses.
Environmental, REZs, and Energy Updates
The Federal and Victorian governments announced that five water security projects will share in $40.6 million, as part of the $211 million Water Infrastructure for Sustainable and Efficient Regions initiative.
The Victorian Government introduced legislation to strengthen planning for Renewable Energy Zones, establishing VicGrid as the central coordinating body. VicGrid will assume transmission planning from the Australian Energy Market Operator.
The Western Australian Government released a Draft Guideline on Community Benefits for Renewable Energy Projects. The guideline aims to provide clarity for developers, support local engagement, and streamline consultation. Public feedback is open until 4 August.
eSafety, ACCC, and micromobility updates
eSafety Commissioner Julie Inman Grant has advised that YouTube be included in the under-16 social media ban, despite initially being excluded. In a recent address at the National Press Club, the Commissioner emphasised the need for a comprehensive approach to online safety.
The Australian Competition and Consumer Commission released its final report from the Digital Platform Services Inquiry, identifying the need for immediate regulatory reform to enhance competition and protect consumers in digital platform markets.
A range of micromobility devices will become legal in South Australia from 13 July, following the finalisation of new regulations by the state government. The changes will allow individuals aged 16 and over to use approved devices, provided they meet specified safety requirements
NDIS, PBS and ADHD updates
The Federal and Western Australian governments signed a bilateral agreement under which Western Australia will make fixed state contributions from 1 July. The agreement aims to strengthen governance arrangements and improve regional access for NDIS participants in the state.
From 1 July, the PBS listing for Trikafta® will expand to include Australians with rarer cystic fibrosis gene mutations. Without the subsidy, Trikafta® could cost over $250,000 annually; however, concessional patients will now pay as little as $7.70 per script.
From 2026, the Western Australian and South Australian governments will allow accredited GPs to diagnose and treat ADHD. The reforms aim to improve access, particularly in regional areas, following similar reforms in New South Wales and Queensland.
In case you missed it...
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