Health policy entered federal politics this week – an area in which Labor has traditionally claimed primacy. In the ultra-marginal Tasmanian seat of Lyons, Prime Minister Anthony Albanese clutched a Medicare card and announced “the biggest boost to Medicare in its history.” Labor has committed $8.5 billion to expand bulk-billing incentives, train up to 2,000 doctors by 2028, and increase the availability of nursing scholarships.
In the personality politics of the pre-election environment, the Prime Minister also pointed to Peter Dutton’s tenure as Health Minister in the Abbott Government, during which he tried to establish a GP co-payment, as an indication that the Coalition can’t be ‘trusted’ on health.
It didn’t take long for the Opposition to respond. In a move to neutralise the politics and avoid a 2016-style ‘Mediscare’ campaign, Mr Dutton confirmed the Coalition would match Labor’s announcement, and chip in an extra $500 million to improve mental health services.
Things move quickly in these final few weeks before an election.
Top talking points
📊Inflation holds steady: Headline inflation remained at 2.4 per cent in January, while trimmed mean inflation rose to 2.8 per cent.
🌏Support for Ukraine: The Federal Government and Opposition reaffirmed Australia’s commitment to Ukraine, marking three years since Russia’s invasion.
🚆$3.3 billion transport investment: The Federal and Victorian Governments announced joint funding for road and rail projects, including the Suburban Rail Loop.
🎓Universities Australia CEO speaks: Luke Sheehy addressed the National Press Club, calling for greater support for the tertiary education sector.
🏛 ASIC reviews capital markets: The corporate regulator has opened consultation on reforms to public and private capital markets regulation.
Making headlines this week
Treasurer Chalmers in Washington for trade talks
Treasurer Jim Chalmers travelled to Washington D.C. this week to meet with newly appointed U.S. Treasury Secretary Scott Bessent. The visit comes as the Trump Administration prepares to roll out new tariffs, including a proposed 25 per cent tariff on Australian steel and aluminium exports, raising concerns over the future of global trade.
During his trip, Dr Chalmers also addressed the Australian Superannuation Investment Summit at the Australian Embassy, highlighting the potential for Australian pension funds to become a key source of investment in the U.S.
Meanwhile, Assistant Treasurer Stephen Jones attended the G20 Finance Ministers and Central Bank Governors meeting in South Africa, where discussions focused on global economic challenges and international cooperation.
Senate estimates wrap up
Parliamentarians returned to Canberra for what could be the final Senate estimates hearings before the election. The hearings provided the Opposition with an opportunity to question public servants on recent government spending announcements.
Key moments included:
🔍 ASIO Under Scrutiny: Inspector-General Mike Burgess faced questioning over foreign interference threats, including disrupted plots to harm individuals on Australian soil.
🪑 $20,000 Sit-Stand Desk Controversy: The Department of Parliamentary Services was questioned over a desk purchase that remains in storage.
🌱 Climate Authority Chair Accused of Bias: Former NSW Liberal Treasurer Matt Kean, now Chair of the Climate Change Authority, was accused[paywall] of being a “Labor puppet” by Opposition Senators.
Things to watch
🍂 Election battlegrounds in focus: As autumn begins, Anthony Albanese and Peter Dutton will continue targeting key battleground seats, with election commitments expected to ramp up.
📢 Business Summit 2025: The Australian Financial Review’s annual summit takes place next week, featuring discussions on the upcoming federal election. Speakers include Minister for Foreign Affairs Penny Wong, former ministers Bill Shorten and Marise Payne, and Deputy RBA Governor Andrew Hauser, who will deliver the keynote address.
Market reforms, consumer protections, and tax relief
Concerns over competitive barriers on the Australian Securities Exchange (ASX) have led ASIC to introduce new clearing and settlement reforms, requiring providers to publish fees for greater transparency. The reforms, which follow extensive industry consultation, aim to align Australian markets more closely with international standards.
In the supermarket sector, the Federal Government has opened nominations for the first Food and Grocery Code Supervisor. The role will focus on ensuring compliance, improving dispute resolution, and providing industry insights under the newly strengthened Food and Grocery Code of Conduct.
Meanwhile, Australia’s distillers, brewers, and wine producers will receive tax relief from July 2026, with the excise remission cap and Wine Equalisation Tax producer rebate increasing to $400,000. The announcement has been welcomed by industry groups as a boost for small and medium-sized producers.
Strengthening economic and defence partnerships
Australia has taken significant steps to enhance its international relationships this week. Parliament ratified the upgraded ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), aiming to bolster Australian businesses’ access to Southeast Asian markets. Additionally, a new roadmap for economic engagement with India was introduced, focusing on deepening bilateral trade and investment ties.
In the defence sector, concerns were raised over Chinese naval vessels conducting live-fire exercises in the Tasman Sea, albeit in international waters. Defence Minister Richard Marles confirmed that official representations have been made to Beijing regarding these activities. Furthermore, the government announced a $100 million, five-year contract extension with James Fisher Defence to provide the Australian Defence Force with advanced underwater life support systems. An additional $90 million, four-year contract was also signed to supply submarine escape and rescue services, supporting Australia’s Collins-class submarines.
Nuclear energy report and Queensland trade mission
The Select Committee on Nuclear Energy released its interim report on nuclear power generation in Australia, concluding that it would be too costly and too slow to support renewable energy targets. Coalition members submitted a dissenting report, challenging the findings.
In Queensland, Natural Resources and Mines Minister Dale Last will lead a trade mission to the U.S. and Canada, aiming to repair relationships with international resource investors. The Crisafulli Government argues that ties were damaged under its predecessors and seeks to rebuild confidence in the sector.
Aviation and telecommunications updates
Qatar Airways received approval[paywall] to acquire a 25 per cent stake in Virgin Australia from Bain Capital, with conditions attached. The decision aligns with advice reportedly provided by the Foreign Investment Review Board (FIRB) and represents a significant shift in Australia’s aviation sector.
New Universal Outdoor Mobile Obligation (UOMO) reforms have been announced, requiring mobile carriers to provide expanded regional and rural mobile and SMS coverage. Legislation is set to be introduced later this year with implementation expected by late 2027.
Medical research, tertiary education, and workplace policy updates
A $422 million investment in medical research has been announced, with 229 researchers receiving funding through the NHMRC Investigator Grants scheme. Additionally, a new National Suicide Prevention Strategy for 2025–2035 has been released, accompanied by $69 million in funding to support Australians affected by suicide and distress.
A new report from Jobs and Skills Australia, Opportunity and Productivity: Towards a Tertiary Harmonisation Roadmap, highlights the need for better integration between vocational education and universities to strengthen the future workforce. At this week’s Universities Australia Summit, a commitment was made to establish an Australian Tertiary Education Commission if re-elected, aiming to bridge the gap between TAFE and university pathways.
On workplace policy, the Federal Government has accepted five recommendations from an independent review on paid family and domestic violence leave.
In case you missed it...
📺 President Trump asks ‘What is AUKUS?’ during a press conference with UK Prime Minister Keir Starmer: