July 25, 2025
Weekly Wrap Up

Parliament returned this week for the first time since the Labor Party’s decisive win at the 2025 Federal Election. The opening was marked by the traditional pomp – including an interfaith service, a speech from the Governor-General, and the ceremonial dragging of the Speaker to his chair. With a renewed mandate and a commanding majority, Albanese now leads a government well positioned to pursue an ambitious legislative agenda but reluctant to do so.

Parliamentary proceedings thus far point to movement on key priorities, including HECS debt relief and childcare reforms following tragic incidents in the sector – more on this below. The appointment of committee members and the election of the House Speaker and Senate President officially kick off parliamentary business, setting in motion the behind-the-scenes work that will shape how policy moves forward this term. While Labor commands a vast majority in the House, it will still require support from either the Greens or the Coalition to pass legislation in the Senate. While we can expect bipartisanship on certain Government priorities, we should expect a fight on controversial changes to superannuation and Australia’s environmental laws. Meanwhile, the Coalition continues to face internal divisions as the Nationals seek to force the Coalition to abandon net zero targets – a shift that could deepen tensions.

As we’ve said before, the PM has proven himself as a skilled campaigner – that’s beyond a doubt. But governing is a different challenge. With bolstered numbers in both the House and Senate, the excuses are gone. Now, the real work begins: turning promises into tangible results.


Top talking points

🏛 Parliament Convenes: Both houses sat for the first time since the 2025 Federal Election.

📊 Polling: Newspoll polling sees Labor leading[paywall] the Coalition 57 to 43 on a two-party preferred basis.

📝 Roundtable Invitations: Jim Chalmers issued the second round of invitations to the Economic Reform Roundtable.

🌊 Algal Bloom: The Federal Government committed $14 million to help South Australia manage its coastal algal bloom.

🗳 Tasmanian Election: Hung parliament negotiations have commenced, with neither the Liberal nor Labor parties securing a majority.

Making headlines this week

First Legislative Items 

The Federal Government’s first legislative priorities centred on reforms to the education and childcare sectors. A Bill to reduce student debt by 20 per cent – benefiting approximately 3 million Australians – was introduced, with the average graduate seeing a $5,500 reduction in their loan balance over time. In response to recent child abuse allegations in Victoria, the Federal Government introduced legislation to strengthen safety in childcare centres. The Bill empowers the Federal Government to cut subsidies to centres failing to meet safety and quality standards, introduces a national Working with Children check system, and mandates the public naming of unsafe centres.

AUKUS Developments 

At the AUKMIN Consultations in Sydney, Australia and the United Kingdom will sign a new 50 year UK-Australia AUKUS treaty. The new treaty underpins the UK’s commitment to the AUKUS pact amidst the Pentagon’s ongoing review. 

Earlier in the week, Richard Marles confirmed that Australia has made its second $800 million payment to the United States as part of the AUKUS submarine agreement, raising its total contribution to $1.6 billion out of a pledged $4.6 billion. Meanwhile, former Prime Minister Scott Morrison testified before a US congressional committee on US–China strategic competition, emphasising the urgent need for Australia to increase its defence spending to 3.5 per cent of GDP to counter emerging regional threats.

Things to watch

🏛 29 July, the AFR’s Government Services Summit 2025 will be held.

📈 29 July, ABS data release: The ABS will publish underemployed, participation, and job mobility data.

💰 30 July, CPI data will be released.

🎤 30 July, Atlassian Co-Founder, Chair of the Tech Council of Australia, and Economic Reform Roundtable attendee will address the National Press Club.

🌱 31 July, CEDA will host the ESG Community Forum.

🧠 31 July, Deputy Governor Andrew Hauser will address the Barrenjoey Economic Forum.

IA-CEPA Review, RBA Speech and APRA Updates

In a joint opinion piece, Treasurer Jim Chalmers and Indonesian Finance Minister Sri Mulyani Indrawati announced a review of the IA-CEPA, aimed at strengthening bilateral trade and investment. Indonesia will also issue its first AUD-denominated ‘Kangaroo bond’ in August to support Australian investment in Indonesia.

Following the RBA’s decision to keep the cash rate on hold, Governor Michele Bullock explained that the RBA’s gradual approach to inflation management aims to constrain unemployment growth, highlighting that tightening policy too quickly could affect longer-term job outcomes. 

APRA maintained its macroprudential settings, keeping the mortgage serviceability buffer at 3 percentage points and the countercyclical capital buffer at 1 per cent. APRA raised concerns over high household debt, whilst noting that lowering inflation has eased pressures on borrowers

Joint Statement, Ukraine and ASPI report

Penny Wong, along with other Foreign Ministers, released a joint statement on the occupied Palestinian territories, calling on the Israeli Government to immediately lift restrictions on the flow of aid. 

The Federal Government has transferred the first tranche of Australian-gifted M1A1 Abrams tanks to Ukraine’s Armed Forces, following a request from the Ukrainian government. Ukraine now holds the majority of these tanks, with the final tranche set for delivery in the coming months.

ASPI released a report, commenting on the need to strengthen the Parliamentary Joint Committee on Intelligence and Security. The report outlines reforms aimed at ensuring the Committee is equipped to keep pace with Australia’s intelligence community and landscape.

Senate Inquiry, US Beef Imports, Roundtables and Whyalla Updates

Dan Tehan called for a Senate inquiry into the metals manufacturing industry, but the Federal Government is yet to respond. 

Julie Collins told a press conference that Australia would allow the expansion of US beef imports, denying that this was related to tariff threats from the US Administration, stating that it was the result of extensive work by the department.

Madeleine King convened two resource sector roundtables in Perth to inform the recently announced Economic Reform Roundtable, which Jim Chalmers will lead in August. 

The Federal Government has approved a further $275 million in support for the Whyalla Steelworks to ensure operations continue during the ongoing sale process. A preferred bidder is yet to be confirmed.

Housing, GIICA CEO and Western Australia Updates

Following recommendations from the Housing Delivery Authority, the New South Wales Government declared a further 30 projects as State Significant Developments. If lodged and approved, these projects could create 10,800 homes, including affordable housing.

The Games Independent Infrastructure and Coordination Authority appointed Simon Crooks as the new CEO. Mr Crooks will be responsible for leading the delivery of the Games Infrastructure outlined in the Queensland Government’s 2032 Delivery Plan.

The Western Australian Government announced new contracts with GenusPlus, UGL Engineering, and Acciona. The $342 million investment aims to upgrade the northern sector of the South West Interconnected System, the electricity distribution network servicing a large proportion of the state.

PBS Listings and State Government Updates

The Federal Government has updated the Pharmaceutical Benefits Scheme, listing Livtencity® and Tibsovo® for the first time and expanding access to Opdivo® and Kisqali® to cover more patients.

The Western Australian Government will expand the role of pharmacists, allowing them to diagnose and treat common conditions following training, with full implementation expected by 2027. The move aims to ease GP pressure but has raised concerns from some medical groups.

The Queensland Government committed $12 million in funding for capital works at 10 non-state schools across the state, aiming to support the construction and upgrade of classrooms, as well as access roads and other infrastructure.

In case you missed it...

📺 Parliament reconvenes

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