Weekly Wrap Up – 12 December 2025
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Much newspaper ink has been spilled this week foretelling the end of the world as we know it. At least that’s what you might think if your point of reference is the commentariat and parliamentarians (current and former). Critics say they are striving for relevance.
At the weekend, Deputy Prime Minister Richard Marles made the annual pilgrimage to the Shangri-La Dialogue in Singapore, an international summit hosted by the IISS. Here, defence ministers from around the world come together to talk to each other about what’s going on in the world and how they are interpreting it.
This year, Shangri-La was also a convenient meeting place for a meeting of the AUKUS Defence Ministers. It was revealed that Australia would now acquire three (up from two) ‘in-service’ Block IV Virginia-class nuclear-powered submarines from the United States.
What does this mean in practice? We’re getting a boat that has undergone all the testing and has a few sea miles on the odometer, rather than fresh off the line, so you know it’s not a lemon. We’re getting it faster, tick for meeting our immediate strategic needs. We’re getting three of the same configuration (Block IV), tick for being easier to operate.
Yes, there are fewer missiles on the Block IV than on the new Block VI we would have received–but these are not ballistic missile submarines. Unleashing a battery of cruise missiles on a land target is not their primary purpose. Put simply, this is all upside for us.
But the domestic political reaction in Australia would have you believe this was the greatest betrayal since Kerr sacked Whitlam. Cue former Labor Cabinet Minister, now backbencher Ed Husic, calling for a rethink. Former Labor Minister Peter Garrett has invented for himself a new job of public inquisitor to investigate the deal under some sort of vox populi authority.
The Government, for its part, says this is an improvement on the previous arrangement. Labor has debated AUKUS in many settings, including at National Conferences. The Prime Minister has backed it on every occasion. It’s been Labor policy at two elections.
So is getting the same number of the same type of submarines faster going to sink AUKUS? That would be an extraordinary but highly improbable turn of events.
Top Talking Points
Parliament: Parliament reconvened while Senate Estimates continued this wee
Fair Work Decision: The Fair Work Commission moved to increase the national minimum wage by 6 per cent and modern award wages by 4.75 per cent.
Liberal Party President: Tony Abbott was elected unopposed as the federal president of the Liberal Party of Australia.
Polling: One Nation’s primary vote has surpassed[paywall] Labor, increasing four points to 31 per cent, in recent polling released by Redbridge. Marking the first poll released since the handing down of the Budget, Labor’s primary vote fell three points to 28 per cent and the Coalition slipped two points to 20 per cent.
South Australian 2026-27 Budget: Tom Koutsantonis handed down the 2026-27 South Australian Budget following the March State Election, see GRACosway’s analysis here.
Making headlines this week
Parliamentary Wrap
Stalling Growth
Recent data released by the ABS reveals Australia’s economy expanded by 0.3 per cent in the March quarter, bringing annual growth to 2.5 per cent. While the headline figures indicate continued economic expansion, rising interest rates, persistent cost-of-living pressures and ongoing global uncertainty continue to weigh on households and businesses. Whilst private investment strengthened, this was largely driven by expenditure on AI-related data centre infrastructure rather than broad-based business investment. Productivity remains a key challenge, declining by 0.6 per cent during the March quarter and recording only modest growth over the 2025-26 year. Following the release of the national accounts, Jim Chalmers acknowledged that lifting productivity remains central to sustaining stronger long-term economic performance.
Things to watch
10 June: The ABS will release Building Approvals and Industrial Disputes data.
10 June: CEDA will host Tom Koutsantonis to deliver the 2026 State Budget address.
10 June: Andrew Leigh will address the National Press Club, discussing the Australian charity sector.
12 June: The ABS will release Labour Account data.
ASIC Regulatory Simplification and Life Insurance Genetic Testing Consultation
ASIC opened consultation on proposed changes to financial reporting and auditing relief instruments, including a proposal to consolidate 17 existing instruments into two. ASIC noted that these reforms will support its broader regulatory simplification agenda.
AFCA opened consultation on genetic testing in life insurance, proposing changes that would allow it to handle complaints about insurers’ compliance with the ban. The consultation follows the passage of the Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Act in April and is due to close on 26 June.
Pacific Diplomacy, Ebola Funding, and Ministerial Travel Updates
Anthony Albanese welcomed the Prime Minister of Solomon Islands, Matthew Wale, to Canberra. Both leaders agreed to begin negotiations on a comprehensive treaty, with Australia committing $35 million to support Solomon Islands’ response to Tropical Cyclone Maila and global energy shocks.
Penny Wong committed $5 million to support the international response to the Ebola outbreak in Central Africa. The funding will assist frontline health efforts through international partners, helping contain the virus and strengthen global health security.
Don Farrell travelled to Paris to lead Australia’s delegation at the OECD Ministerial Council Meeting, advocating for an open, rules-based trading system alongside key trading partners. He also met with French business leaders and WTO ministers to advance trade reform and economic cooperation.
Food Supplier, Battery and Solar Uptake, and Critical Minerals Legislative Developments
Julie Collins announced funding for the National Farmers’ Federation and AUSVEG to deliver the Know Your Grocery Code program. This will provide free training to fresh food suppliers on their rights under the mandatory Food and Grocery Code, in an effort to strengthen their bargaining power with major supermarkets.
The March Quarterly Carbon Market Report shows Australia’s battery and solar sector is expanding rapidly, with 4.4GW of new battery capacity commissioned and 4.3GW reaching investment decision in 2025.
The Queensland Government introduced the State Development and Public Works Organisation (Critical Minerals) and Other Legislation Amendment Bill 2026 to fast-track critical minerals and other State-significant projects. The Bill aims to streamline approvals, improve infrastructure planning and create a new State Strategic Projects category.
SMS Scam Prevention Measures, Rail Appointments, and Housing EOIs Moves
Anika Wells called on businesses and organisations to ensure their registration is complete ahead of the new SMS Sender ID Register launch on 1 July. The measures aim to reduce scam messages and improve trust in legitimate business communications.
Catherine King announced the reappointment of Erin Flaherty as a Non–Executive Director and Board Chair for the National Intermodal Corporation and a Director for Inland Rail Pty Ltd for two years.
The New South Wales Government stated that the Housing Delivery Authority will assess expressions of interest for major housing projects within 60 days, accelerating planning decisions to increase certainty for developers and support faster delivery of high-density dwellings.
Early Childhood Sector, NDIS Reform Inquiry, and New South Wales Medicinal Cannabis Updates
Jason Clare announced that Australia’s early childhood education and care sector has reached its highest-ever compliance with national quality and safety standards. The latest National Quality Framework (Q1 2026) Snapshot shows 92 per cent of services now rated at or above the National Quality Standard.
In a submission to the Senate Standing Committee on Community Affairs’ inquiry into National Disability Insurance Scheme Amendment (Securing the NDIS for Future Generations) Bill 2026, the NDIS Reform Advisory Committee argued the legislation grants excessive power to the federal health minister, tightens eligibility criteria, reduces participant support budgets, and risks excluding people who currently rely on the scheme.
The New South Wales Government will introduce legislation so that eligible medicinal cannabis patients are not automatically penalised for testing positive for THC. Warnings would replace initial penalties, while existing road safety laws remain unchanged.