Weekly Wrap Up – 12 December 2025
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Prime Minister Anthony Albanese has emerged from Labor’s National Conference with a sense of strengthened authority. Ahead of parliament returning next week, the party has positioned itself as united. While internal debates over foreign policy and the pace of reform exposed some tensions, Labor’s leadership successfully contained dissent and maintained party discipline. However, for a government entering the second half of its second term, the challenge is no longer simply to maintain stability, but to position the party for the next election by promoting its platform.
State and territory governments are facing different challenges in maintaining integrity and restoring public trust. In Victoria, newly elected Premier Ben Carroll moved quickly to draw a line under his predecessor’s leadership, announcing a Royal Commission into alleged corruption within the Big Build infrastructure program. The move marks a significant political reset ahead of the November election, placing integrity and accountability at the centre of the election debate. The issue extends beyond Victoria. In NSW, ongoing ICAC hearings involving senior Liberal figures have kept questions of political influence and integrity in the spotlight. Meanwhile, in the ACT, Labor has faced scrutiny following Deputy Chief Minister Yvette Berry’s resignation after findings of corrupt conduct during a school procurement process surfaced. It is evident across these jurisdictions that governance and accountability are key political vulnerabilities and directly correlate with voter confidence.
Adding to these domestic pressures is a more uncertain international environment. The Trump Administration’s decision to impose a new 12.5 per cent tariff on Australian exports has created a fresh challenge for the Albanese Government. This tests its economic and diplomatic strategy as it seeks to protect Australia’s trading interests while maintaining a close alliance with Washington.
Stay tuned.
Making headlines this week
Victorian Leadership Change
Energy and Climate Change Ministerial Council (ECMC)
The Energy and Climate Change Ministerial Council — which comprises federal, state, territory and New Zealand energy ministers — met to discuss fuel security and energy network reform. Ministers noted that national fuel supplies remain stable, with stocks above pre-conflict levels and deliveries continuing despite international volatility. It was warned that a prolonged conflict could place increasing pressure on markets and household costs. The ECMC also focused on the rapid growth of data centres, with AEMO forecasting they could account for around 10 per cent of the National Electricity Market demand by 2050. The Council agreed to pursue a nationally coordinated approach to support investment, while protecting the grid and preventing additional costs for consumers. With the exception of Queensland and the Northern Territory, Ministers welcomed the Federal Government’s proposed AI Standards, creating nationally consistent requirements for large-scale data centres to invest in new renewable generation. The ECMC also agreed to progress related regulatory and National Electricity Rules reforms.
Things to watch
4 August: The Federal and New South Wales Parliaments will sit.
5 August: Chris Bowen will address the National Press Club, discussing energy security.
6 August: The ABS will release International Trade in Goods and Building Approvals data.
6 August: Tony Burke will address the National Press Club, discussing Australia’s migration program.
ACCC, ASIC, and Insurance Consultation Updates
The ACCC will require ABA member banks to offer and disclose basic, low or no-fee accounts to eligible new customers. They will also be required to transfer eligible existing customers to these accounts, annually identify and contact eligible customers, and not charge interest on informal overdrafts for these accounts.
ASIC Chair Sarah Court called on banks to improve the management of offset accounts after failures caused some customers to miss out on savings. Between September 2023 and August 2025, eight major banks paid more than $55 million in compensation for offset account failures.
Dr Daniel Mulino released draft regulations to extend the exemption for add-on insurance products from the Deferred Sales Model regime for a further five years. Consultation closes on 7 August.
Australia-Singapore Ties and AUKUS Developments
Australia and Singapore signed a new Protocol on Economic Resilience and Essential Supplies under the Singapore-Australia Free Trade Agreement. This follows the 15th Singapore-Australia Joint Ministerial Committee meeting in Adelaide and aims to strengthen cooperation on energy security, critical supply chains and trade.
Richard Marles appointed Leidos Gibbs and Cox Australia as preliminary designer for an AUKUS submarine contingency dry dock capability. This will support future nuclear-powered submarine operations and strengthen sovereign defence infrastructure.
Australian-made submarine-grade steel will be used in US Virginia-class submarines for the first time, with Bisalloy Steel supplying HY80 steel plate to General Dynamics Electric Boat.
Oil Refinery, Quantum Technology Cooperation, and Queensland Moves
Anthony Albanese and Roger Cook announced a jointly funded $4 million pre-feasibility study into a new oil refinery in Karratha, Western Australia. The refinery, proposed by Perdaman, would be the first new large-scale petrol refinery built in Australia since the 1960s.
Australia and Japan signed a new Memorandum of Cooperation to deepen ties on quantum technology, research, commercialisation, and industry collaboration under the Special Strategic Partnership.
Dale Last released the Queensland Government’s 2026–30 Critical Minerals Strategy seeking to accelerate extraction, processing and exports. This aims to attract investment, strengthen supply chains, and position Queensland as a leading global supplier of critical minerals.
The Queensland Government also launched a $487 million Waste Reduction and Recycling Activation Fund to expand recycling infrastructure and reduce landfill. The Fund will support councils and industry in strengthening the State’s recycling capability.
AMCA, eSafety, and Infrastructure Australia Developments
ACMA will take Optus Mobile to the Federal Court over the September 2025 Triple Zero outage. Anika Wells welcomed the regulator’s action and reinforced the importance of reliable emergency communications services for Australians.
Anika Wells outlined her support for eSafety’s enforcement action against Telegram for allegedly failing to remove pro-terror material. The regulator is seeking penalties of up to $54.6 million under the Online Safety Act following an investigation into the platform’s compliance obligations.
Catherine King announced the reappointment of Adam Copp as Chief Executive Officer of Infrastructure Australia for another three-year term. Mr Copp has led the agency since July 2023, overseeing national infrastructure planning, policy advice and investment priorities.
Health Research, ACTU, and Child Safety Training Updates
Mark Butler announced a $430 million investment in 234 NHMRC research projects. The five-year grants support long-term research into major health challenges, including aggressive breast cancer, endometriosis and recovery after critical illness.
The ACTU will begin a leadership transition, with Secretary Sally McManus stepping down in August and President Michele O’Neil departing later this year. Union affiliates will appoint interim leaders before electing a new leadership team at next year’s Congress.
Jason Clare announced the next stage of mandatory child safety training for early educators begins today. Training will focus on preventing harm, detecting grooming, responding to concerns and strengthening child-safe practices across early learning services.