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Highlights

• The Joint Select Committee on Social Media and Australian Society released its second Interim Report making 11 recommendations, including that the Government establish a Digital Affairs Ministry and explore a digital platform levy as an alternative to the News Media Bargaining Code.
• Treasurer Jim Chalmers travelled to Washington D.C for the International Monetary Fund and World Bank annual meetings, as well as the G20 Finance Ministers and Central Bank Governors Meeting.
• Independent Member for Wentworth Allegra Spender addressed the National Press Club, where she outlined her vision for wide-ranging economic and tax reform.
• QLD Premier Steven Miles and Opposition Leader David Crisafulli participated in the final debate of the state election campaign. Read GRACosway’s detailed insights here.
• Voting in the Victorian Council Elections closes at 5pm on Friday, 25 October, with results to be announced by 15 November.

Royal Visit

Their Majesties King Charles III and Queen Camilla visited Australia, marking the first tour by the reigning sovereign since 2011. Touching down in Sydney, the King and Queen first attended a church service in North Sydney before travelling to NSW Parliament House to celebrate the 200 year anniversary of the Legislative Council. On the second day, Their Majesties travelled to Canberra to pay their respects at the Australian War Memorial and attended an official reception in the Great Hall at Parliament House. Prime Minister Anthony Albanese welcomed the King and Queen to the nation’s capital, however not all attendees greeted the monarch.

The conclusion of Their Majesties’ tour culminated in a community barbeque in Western Sydney, meetings with Australians of the Year Professor Richard Scolyer and Professor Georgina Long, and a formal review of Royal Australian Navy (RAN) ships on Sydney Harbour. Their Majesties were accompanied by NSW Premier Chris Minns, Governor-General Sam Mostyn, and other dignitaries. The Prime Minister and Their Majesties later travelled to Apia in Samoa for the 2024 Commonwealth Heads of Government Meeting.

ACT election

The Australian Labor Party (ALP) are set to form government for a seventh term – albeit in minority – after securing victory at the ACT election. Based on the current count, the ALP won ten seats in the Legislative Assembly, followed by the Liberals with nine seats, the Greens with three seats, and independents with two seats. One seat remains too close to call. It appears the Greens suffered the largest swing, losing three seats from their previous six. 13 seats are needed to form majority in the ACT lower house. The ALP will now discuss whether to continue their partnership with the Greens to form minority government, led by Andrew Barr as ACT Chief Minister. The official results will be finalised by the ACT Electoral Commission in the coming weeks.

Housing debate ramps up

With housing affordability likely to be a key issue in the upcoming election, a raft of policy initiatives were launched by both government and non-government bodies. The Business Council of Australia (BCA) released its landmark report titled, ‘It’s time to say yes to housing.’ The report makes 29 recommendations, including reforms to zoning regulations and planning approval processes, addressing skilled labour shortages in the construction industry, and tackling taxes that may inhibit housing supply.

The Coalition also announced its signature housing policy – a $5 billion investment into a ‘Housing Infrastructure Programme’ – which would be targeted towards constructing enabling infrastructure for new housing developments, including roads, water mains, and electricity lines. The Coalition expects the policy would support the creation of up to 500,000 homes. Housing Minister Clare O’Neil subsequently announced a $26 million investment in supporting infrastructure in South West Sydney.

Looking ahead

The VIC and SA Parliaments will sit next week.

Finance

Federal Developments

The Federal Government provided $14.7 million over two years to the Australian Financial Complaints Authority (AFCA) to establish a single-compensation pathway for scam victims, where a satisfactory outcome has not been reached through internal dispute resolution. This complements the Government’s Scams Prevention Framework legislation, which will be introduced into Parliament later this year.

In a letter to superannuation funds, the Australian Prudential Regulation Authority (APRA) stated it will start to monitor fund spending including travel, entertainment, and conferences, where the benefits to members are not directly obvious. APRA outlined that it has observed malpractices and questionable expenditure which does not appear to be in members’ best financial interests.

State Developments

The NSW Ombudsman commenced an investigation in response to legal advice concerning the legality of merchant fees by Service NSW, the Department of Customer Service, and NSW Treasury. Reportedly, from 2016, approximately 92 million transactions were unlawfully incurred, totalling $144 million in merchant fees across Service NSW and Revenue NSW.

Foreign Affairs, Defence and Trade

Federal Developments

Minister for Defence Richard Marles and Minister for Defence Industry and Capability Delivery, Pat Conroy announced a $7 billion agreement with the US to acquire SM-2 IIIC and SM-6 long-range missiles. The air and missile defence acquisition aims to boost the Australian Navy’s surface combatant fleet’s long-range capabilities. 

Deputy Prime Minister Richard Marles visited Jakarta to represent Australia at Indonesian President Prabowo Subianto’s inauguration. Prime Minister Anthony Albanese and Minister Marles previously hosted then President-elect Prabowo in August 2024. Minister Marles acknowledged the work of outgoing President Joko Widodo in strengthening Australia-Indonesia bilateral ties.

Minister for Foreign Affairs Penny Wong announced the appointment of five High Commissioners and Ambassadors, who will oversee Australia’s diplomatic postings in Alofi, Funafuti, Ottawa, Paris, and Rome.

Minister for Defence Industry and Capability Delivery Pat Conroy unveiled the Net Zero Strategy and Future Energy Strategy, aiming to reduce the impact of climate change and enhance Australia’s standing in the Indo-Pacific region. As the Australian Government’s largest landholder and energy user, the Department of Defence will use the Strategy to reduce emissions and increase its use of renewable energy.

State Developments

TAS Premier and Minister for Tourism Jeremy Rockliff announced a tourism and hospitality package for the State. The $6 million package will subsidise passenger fares as well as a $100 voucher scheme. 

Environment, Resources, Energy and Agriculture

Federal Developments 

The Australian Financial Review held its annual Energy and Climate Summit in Sydney. Key speakers included Minister for Climate Change and Energy Chris Bowen, his shadow counterpart Ted O’Brien, and industry leaders. Discussions covered injecting more renewable energy into the grid, the future of offshore wind farms, and the potential role of nuclear energy in Australia’s energy mix.  

The Federal Government signed a new organics agreement with China. The agreement will establish cooperation on organic goods and provide a mechanism for the agriculture departments of both nations to collaborate and share information on organic product standards and trade certifications.

Minister for Resources Madeleine King travelled to Japan to promote investment in Australia’s resource and energy sector. During her visit, Minster King addressed a joint business conference between Japanese and Australian business leaders in Nagoya. The Federal Government aims to attract investment in critical mineral projects as part of the Future Made in Australia agenda.

State Developments

SA Trade and Investment Minister Joe Szakacs travelled to Japan and Korea to explore trade and investment opportunities in the energy and resource sector. The Minister was joined on the trip by industry CEOs and signed an MoU with Hyundai Engineering and Construction in Seoul focused on renewables and hydrogen.

The NSW Government expanded the functions of the Energy and Water Ombudsman. Through a $1.3 million grant, the Ombudsman will now have the function to support landowners hosting renewable energy infrastructure projects and community members. The new system will be online in December.

Infrastructure, Transport and Communications

Federal Developments

Minister for Communications Michelle Rowland announced the Federal Government will provide $15 million in funding for regional and community news through the News Media Relief Program. The Program provides grants to eligible regional and First Nations news publishers and aims to improve the diversity and health of Australia’s media sector.

The Federal Government announced the recipients of Round 2 of the $180.1 million Regional Australia Level Crossing Safety Program. A share of $800,000 was awarded to four projects that will investigate human behaviour at crossings, test radar technology for obstacle detection, use predictive models to identify high-risk crossings, and employ analytics tools for efficient upgrades.

Minister for Communications Michelle Rowland announced Scyne Advisory will conduct a trial of fixed voice services and consideration of the performance of Low Earth Orbit Satellites. The trial will aim to improve mobile connectivity and establish sites across 50 regional and remote locations. 

State Developments

The NSW Government will hold an open tender process for a long-term lease at the Entertainment Quarter (EQ) in Moore Park. Proposals are now being sought to deliver visitors, live performances, and events at EQ.

Health and Education

Federal Developments 

Assistant Minister for Health Ged Kearney announced the availability of grants to support projects that promote organ and tissue donation awareness. Up to $600,000 is being offered for initiatives in 2025, which include hosting DonateLife Week events, creating digital content, and developing national marketing strategies.

The Federal Government revealed a $43.2 million extension of the Indigenous Boarding Providers Grants Program through to 2026. The funding will support around 2,500 Indigenous students in over 40 boarding schools, mainly in rural and remote areas, to help them complete their education. This follows an $18 million investment to upgrade boarding facilities in Central Australia.

Minister for Education Jason Clare and Minister for Skills and Training Andrew Giles welcomed India’s Education Minister Shri Dharmendra Pradhan to Australia. The pair discussed strengthening education and skills ties during his visit, which coincided with the second Australia-India Education and Skills Council meeting in Sydney.This follows the opening of Deakin and Wollongong universities in India and ongoing initiatives to enhance bilateral education ties.

State Developments 

The NSW Government extended the School Administration Reduction Program for two more years, expanding its reach to over 700 schools. The initiative aims to reduce teacher workload by deploying additional School Administrative and Support Staff, with participating schools reporting significant improvements. By 2026, nearly half of NSW public schools are expected to benefit.