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Highlights

• Minister for the National Disability Insurance Scheme and former leader of the Labor Party Bill Shorten announced his retirement from politics. He will remain in Cabinet until February 2025 before he officially leaves Parliament to become the next Vice-Chancellor of the University of Canberra.
• The Australian Electoral Commission finalised federal electorate redistributions, confirming the abolition of the Division of Higgins in VIC and the creation of the Division of Bullwinkel in WA.
• The Federal Government opened applications for the $1 billion Solar Sunshot program as part of the Future Made in Australia agenda. Expressions of interest are due by December this year.
• Minister for Foreign Affairs Penny Wong and Minister for Defence Richard Marles hosted their Japanese counterparts for the Australia-Japan 2+2 Foreign and Defence Ministerial Consultation.
• The Federal Executive of the Liberal Party requested that a three-person committee be appointed to oversee the NSW Division for a period of 10 months, following an internal review over the failure to nominate a large number of candidates for local government elections.

State and territory leaders were welcomed by Prime Minister Anthony Albanese to Parliament House for the second National Cabinet of the year. Action on domestic, family, and gender-based violence formed the central point of discussion as part of the National Plan to End Violence against Women and Children 2022-32.

National Cabinet agreed to a $4.7 billion package aimed at enhancing preventative measures, including delivering greater support for frontline services, improving early identification of high-risk perpetrators, and addressing systemic issues that exacerbate acts of violence. Leaders also agreed to an additional investment of $800 million over five years in National Access to Justice Partnership to improve access to legal services for victims of violence. The Federal Government will provide $3.9 billion over five years as part of the partnership.

A renewed five year National Partnership Agreement on Family, Domestic and Sexual Violence Responses was also agreed to, with funding set to commence from 1 July 2025. Measures include uplifting specialist services for women, introducing behavioural programs for men, and assisting children exposed to domestic violence.

Federal Cabinet visits WA

Prime Minister Anthony Albanese and the Federal Cabinet travelled to Perth. The trip marked Mr Albanese’s 23rd visit to WA as Prime Minister, demonstrating the state’s electoral importance for the upcoming federal election.

Speaking alongside the Deputy Prime Minister and Minister for Defence Richard Marles at HMAS Stirling, the Prime Minister unveiled the ‘Jobs for Subs’ program, which aims to attract 200 workers into high-priority trades relating to the maintenance of nuclear-powered submarines in WA under the AUKUS pact.

The Prime Minister and Minister for Education Jason Clare also signed the $1.6 billion Better and Fairer Schools Agreement with the WA Government. Reforms under the agreement include extra tutoring opportunities, additional teaching pathways for First Nations peoples, and greater emphasis on numeracy and literacy in early childhood learning. The Prime Minister also spent time campaigning in the target seats of Moore, Hasluck and Bullwinkel.

Treasurer reacts to National Accounts Data

National Accounts data released by the Australian Bureau of Statistics shows the Australian economy is “barely growing”, Treasurer Jim Chalmers told reporters this week. For the June quarter, Australia’s gross domestic product (GDP) increased by 0.2 per cent and 1.5 per cent in the 2023-24 financial year. GDP per capita fell by 1 per cent. Excluding data from the pandemic, the figures represent the weakest economic growth Australia has experienced since the 1990s recession. “This is the inevitable consequence of global economic uncertainty, persistent but moderating inflation and higher interest rates,” Dr Chalmers said.

The data also shows annual trimmed mean inflation – calculated by excluding items with volatile prices – fell in the last financial year. However, household consumption fell by 0.2 per cent in the June quarter with the households saving rate reaching its lowest level in 17 years. While the figures were “expected” according to the Treasurer, he said that “without government spending or government spending growth, there’d be no growth in the economy at all.” The economic figures come as the Board of the Reserve Bank of Australia is set to hold its monetary policy meeting on 24 September.

Looking ahead

The Federal, VIC, QLD, SA, WA, and TAS Parliaments will sit next week. TAS Treasurer Michael Feguson will deliver the 2024-25 Budget while Budget estimates continue in NSW.

Finance

Federal Developments

The Australian Government released a consultation paper on new merger notification thresholds, proposing that mergers that meet certain thresholds will be subject to a mandatory notification requirement from 1 January 2026. Submissions close 20 September.

The Reserve Bank of Australia (RBA) released its 2024-25 Corporate Plan, setting out its objectives and strategic priorities including: price stability and full employment; the stability of the financial system; a secure, stable and efficient payments system; the delivery of efficient and effective banking services to the Australian Government; and the provision of secure and reliable banknotes.

The Australian Prudential Regulation Authority (APRA) released the 2024 superannuation performance test results. This year the performance of 57 MySuper products and 590 trustee directed products were tested. For the first time, all MySuper products passed the test.

State Developments

The ACT 2024-25 Budget passed the Legislative Assembly after it was handed down in late June. Key features of the ACT 2024-25 Budget include the expansion of the Future of Education Equity Fund as well as an increase to the Electricity, Gas and Water Rebate.

Foreign Affairs, Defence and Trade

Federal Developments

Minister for Trade Don Farrell and Minister for Resources Madeleine King welcomed the Republic of Korea’s Minister for Trade, Dr Cheong Inkyo. The occasion marks the 10th Anniversary of the Korea-Australia Free Trade Agreement Joint Committee Meeting and the Annual Trade Ministers’ Meeting. Further collaboration across the hydrogen, green metals, carbon capture and storage, and critical minerals sectors were discussed.

Defence Minister Richard Marles and Minister for Defence Industry and Capability Delivery Pat Conroy announced the signing of a $142 million contract with Kongsberg Defence & Aerospace to deliver Joint Strike Missiles for the Australian Defence Force. The Joint Strike Missiles have a range of more than 275 kilometres.

Minister Conroy also announced the launch of the Schools Pathways Program: Open Competitive Grant Opportunity. The program aims to raise awareness of Defence industry career opportunities and seeks to encourage student participation in STEM activities and subjects. The grant opportunity is valued at over $11 million.

Assistant Minister for Foreign Affairs Tim Watts attended Africa Down Under, Australia’s premier Africa-focused mining conference, in Perth. The Africa Down Under conference is a key forum for ministers and business executives from both continents to connect and discuss shared opportunities and challenges. Australian mining companies now invest an estimated $60 billion in Africa.

State Developments

The Federal and South Australian Governments announced the construction of a four bay aircraft hangar in northern Adelaide. The hangar will assist with the maintenance of the Australian Defence Force’s Boeing 737 variant aircraft. A $200 million Deep Maintenance and Modification Facility will also be built with construction overseen by the South Australian State Government.

Environment, Resources and Energy

Federal Developments

The Federal Government announced the first recipients of the Capital Investment Scheme. Six large-scale batteries across Victoria and South Australia were selected from over 100 bids. The successful projects will be underwritten by the Federal Government and total over 1.05 GW of storage for renewable energy. The projects will be online from 2027.

The Climate Change Authority (CCA) released the 2024 Sector Pathways Review. The Review was commissioned by Parliament in 2023. The CCA found the roll out of renewable energy was central to achieving 2050 net zero targets and that nuclear cannot make a ‘timely contribution’ to replacing coal-fired power stations or achieving national 2050 net zero targets.

Minister for Trade and Tourism Don Farrell and Minister for Resources Madeleine King launched a new digital Australian Critical Minerals Prospectus showcasing more than 55 investment-ready projects to potential investors and buyers from around the world. The Prospectus will spotlight all Australian critical mineral investment ready projects.

State Developments

Minister for the Environment and Water Tanya Plibersek announced $266 million to ensure water security in WA. Over 90 communities will benefit from the funding which will fund projects to manage water nitrate levels, construct new pipelines and seek to find new water sources. The funding will be split between the WA Government and the Federal Government.

Infrastructure, Transport and Communications

Federal Developments

The Federal Government opened consultation on proposed reforms to implement guardrails for the use of artificial intelligence (AI) in high-risk settings. Preventative measures included in the proposal paper include greater obligations for AI developments in relation to testing, transparency, and accountability aimed at building public trust and providing regulatory certainty. Consultation closes 4 October.

Minister for Communications Michelle Rowland announced reforms aimed at enhancing the Triple Zero services. The changes follow the November 2023 Optus outage that left many Australians unable to contact and access emergency services. The changes include additional obligations telecommunications providers to ensure services remain operational and reporting requirements aimed at ensuring services remain accessible to the public.

The Federal Government appointed Ms Ellie Sweeney as Chief Executive Officer (CEO) of NBN Co for a five-year term. Ms Sweeney has an extensive professional background in telecommunications, including as CEO of Vocus Group and as an executive at Telstra. Ms Sweeney will succeed Mr Philip Knox, who has served as interim CEO of NBN Co since May 2024, following the resignation of former CEO Mr Stephen Rue.

The Federal and WA Governments announced $16 million in joint funding to improve mobile coverage along highways and major roads in WA. The funding aims to improve mobile connectivity in regional areas while ensuring safety for motorist in areas where mobile coverage has been lacking. The funding is part of the Albanese Government’s $50 million Regional Roads Australia Mobile Program.

State Developments

The NSW Government formally adopted the Bradfield City Centre Master Plan adjacent to the new Western Sydney Airport. The project is expected to provide over 20,000 jobs and include 10,000 new homes, 10 per cent of which will be affordable housing. Features include a Central Park, a major events space, and 36 hectares of public open space for community use. The major development partner will be announced in 2025.

Health and Education

Federal Developments

The Federal Government announced a $60 million investment through the National Health and Medical Research Council’s Centre of Research Excellence scheme to address significant health challenges in Australia. The funding will go to establishing 20 Centres of Research Excellence, each receiving $3 million, to support collaborative research in areas such as Alzheimer’s disease, sexual violence recovery, knee injury prevention, and the elimination of neglected tropical diseases.

Minister for Health and Aged Care Mark Butler announced a $34.5 million investment via the Medical Research Future Fund for research into stem cell therapies for osteoarthritis and other medical conditions. A total of six projects will share the funding, including Melbourne-based Magellan Stem Cells for knee osteoarthritis, and Griffith University to develop a treatment for spinal cord injuries using stem cells.

Assistant Minister for Health and Aged Care Ged Kearney launched a $10 million campaign designed to encourage more women to get screened for cervical cancer. The new ‘Own It’ campaign targets priority populations, including Aboriginal and Torres Strait Islander women, multicultural communities, and those with disabilities, and promotes the use of self-collection methods introduced in 2022. The Australian Government aims to eliminate cervical cancer by 2035.

State Developments

The Victorian Government opened the second round of scholarships for Victorians pursuing secondary school teaching degrees in 2024 and 2025. The scholarships cover the cost of degrees for new and returning students. This initiative is part of a $229.8 million investment in Victoria’s teaching workforce, with more than 1,700 students having received scholarships so far.

The NSW Government launched a $189 million Bulk-Billing Support Initiative to help maintain affordable GP services and reduce pressure on emergency departments. The program provides payroll tax rebates to clinics meeting bulk-billing thresholds and waives $104 million in historical tax liabilities for contractor GPs. The measure was announced in the 2024-24 NSW Budget.