Woodside’s profit more than doubles to $5.6bn
Sticking with Woodside for a moment: AAP reports that its statutory net profit after tax rose 115% in 2024 to US$3.57bn (A$5.62bn) but that it will pay a smaller dividend.
Australia’s largest oil and gas producer said its underlying net profit for the 12 months to 31 December was down 13% to US$2.88bn, primarily due to lower oil and gas prices.
The company produced a record 193.9m barrels of oil equivalent in 2024, underpinned by strong early production at its Sangomar oilfield off the coast of Senegal, which generated US$950m in sales revenue since producing its first oil in June.
Woodside’s Scarborough project 375km off the Pilbara coast of WA is now 80% complete and on track for its first LNG cargo in 2026, chief executive Meg O’Neill said.
Woodside said its operating revenue was down 6% to US$13.2bn, as the average realised price it received for oil equivalent dropped 7%. Production costs were down 2% despite the inflationary environment, Woodside highlighted.
Woodside said it would pay a 53 US cent a share fully franked final dividend, down from 60 cents a share a year ago.
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Australia’s largest oil and gas producer said its underlying net profit for the 12 months to 31 December was down 13% to US$2.88bn, primarily due to lower oil and gas prices.
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The company produced a record 193.9m barrels of oil equivalent in 2024, underpinned by strong early production at its Sangomar oilfield off the coast of Senegal, which generated US$950m in sales revenue since producing its first oil in June.
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Woodside’s Scarborough project 375km off the Pilbara coast of WA is now 80% complete and on track for its first LNG cargo in 2026, chief executive Meg O’Neill said.
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Woodside said its operating revenue was down 6% to US$13.2bn, as the average realised price it received for oil equivalent dropped 7%. Production costs were down 2% despite the inflationary environment, Woodside highlighted.
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Woodside said it would pay a 53 US cent a share fully franked final dividend, down from 60 cents a share a year ago.
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The prime minister, Anthony Albanese, is addressing the media in Chatswood in Sydney, touting the government’s $8.5bn Medicare pledge.
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He said supporting Medicare was the “Australian way”, comparing it with the US healthcare system:
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n
We do not need an Americanisation of the health system. What we need is for Australians to be able to rely upon the fact that when they need it, they will get the care that they need – and primary healthcare through our GPs is so important.
n
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Nine Entertainment will expand its restructuring program into next financial year as part of a business and cultural reset after the company’s earnings were buffeted by subdued advertising conditions and the end of a content deal.
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The broadcaster and publisher reported a 15% drop in its half-year group earnings to $268m, weighed down by the end of its arrangement with Facebook owner Meta.
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Revenue from the company’s broadcast arm, its biggest division, fell 3%, while streaming revenue at 9Now jumped higher.
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Nine said in its six-month results there would be further restructuring in the next financial year as part of a program to reduce costs.
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It is seeking to find cost efficiencies of more than $100m by mid 2027. Nine’s acting CEO, Matt Stanton, told shareholders today:
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n
At the same time, we intend to take this opportunity to transform both the culture at Nine and as leaders in the industry, the underlying cultural issues that have plagued the broader media sector in Australia for many years.
n
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Nine Network office in Melbourne.”,”caption”:”A Nine Network office in Melbourne.”,”credit”:”Photograph: Luis Ascui/AAP”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
A bombshell report released last year revealed Nine had a systemic issue with the abuse of power and authority, bullying, discrimination and sexual harassment across the company.
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The broadcaster is also looking to streamline its news operations for its television and streaming business. Stanton said:
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n
We intend to streamline the news gathering processes nationally, aimed at ultimately improving news editorial workflow. We will look for opportunities to bring production to nine rather than rely on outside broadcast.
n
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Air Services Australia faced questions at Senate estimates overnight on how it found out about two Chinese live-fire exercises in the seas between Australia and New Zealand last week – which caused commercial flights to be diverted in the skies above.
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CEO Rob Sharp said he was made aware of the Chinese warship’s live-fire exercise after a Virgin pilot overheard a broadcast from the Chinese fleet while flying near it, and called it in:
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n
It was in fact a Virgin Australia aircraft that advised one of our air traffic controllers that a foreign warship was broadcasting, that they were conducting live firing 300 nautical miles east off our coast. So that’s how we first found out about the issue.
n
“,”elementId”:”93b45611-bef2-4d5c-a594-0bbd289d2e2e”},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”‘Extremely capable’ weapons on Chinese warships off Australia’s east coast, NZ government says”,”elementId”:”84b5cc72-e631-48c5-a772-35f7d58dba50″,”role”:”thumbnail”,”url”:”https://www.theguardian.com/world/2025/feb/24/extremely-capable-weapons-on-chinese-warships-off-australias-east-coast-nz-government-says”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
He said within two minutes air traffic control sounded a hazard alert for all flights in the area. Peter Curran, the deputy CEO, said Defence had also been contacted shortly afterwards:
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n
At that stage, we didn’t know whether it was a potential hoax or real.
n
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An Emirates aircraft was also in contact with the warships, Curran said, which advised they were conducting live firing. Throughout Friday a total of 49 aircraft were diverted, Curran said – some of which were in the air when Air Services was first made aware of the firing:
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n
Many of them were flights afterwards, subsequently flight planned to simply re-route around the airspace.
n
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Air Services had only just stopped diverting flights after the Chinese fleet sailed south, away from flight paths, Curran said.
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Collection of food organics and garden organics will be mandatory in NSW after legislation passed the state parliament.
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The laws will make collection of Fogo waste compulsory for households statewide by July 2030, and in stages from July 2026 for businesses and institutions.
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Landfills are due to reach capacity in the greater Sydney region by 2030 and an estimated one-third of household red bin capacity is taken up by food waste. Fogo recycling aims to divert this waste from landfill into compost.
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handful of refined compost “,”caption”:”A handful of refined compost at the Cleanaway waste management centre in Kemps Creek.”,”credit”:”Photograph: Blake Sharp-Wiggins/The Guardian”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The NSW environment minister, Penny Sharpe, said NSW had “ignored the crisis for landfill capacity for too long” and that it “cannot kick this can down the road any longer”:
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The new Fogo laws mean NSW is leading the nation in combating food waste, becoming the first to mandate this recycling revolution across the state.
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Fogo bins will be rolled out at premises including supermarkets, pubs, cafes, universities, schools, hotels and hospitals. Large supermarkets will also be required to report on the amounts and types of surplus food donated to charities such as OzHarvest, Second Bite and Foodbank.
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The Minns government will direct $81m to a “Fogo fund” which will largely go to councils for infrastructure including bins, kitchen caddies and liners, contamination audits, community education programs and staffing.
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The Victorian government has introduced a “townhouse code” which it says will “rapidly approve” new home buildings up to three storeys tall, as long as they suit the needs of residents and the surrounding community.
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The government said the code would turbocharge the approval of more duplexes, townhouses and low-rise apartments for workers and young people – with “no costly delays, no VCAT limbo, and no sluggish bureaucracy”.
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The code sets standards for good development, which includes:
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Neighbourhood character rules like six metre setbacks at the front, and setbacks at the side and rear.
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Tree canopy and open space requirements, including protecting trees that are a certain size.
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A mix of one-, two- and three-bedroom apartments in projects of a certain size, to support families.
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Protection for neighbours from overlooking and overshadowing.
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Enough sunlight, storage, room size, ventilation and private open space for residents.
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Buildings that are sustainable and energy efficient.
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A planning permit application will have to include all the evidence it meets the code. Councils will assess if it meets the code and, if met, no more assessments would be required and the project fast-tracked. If the code is not met, then a normal planning process will then apply.
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housing in Melbourne”,”caption”:”Residential housing in Melbourne.”,”credit”:”Photograph: Joel Carrett/AAP”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1740429552000,”blockCreatedOnDisplay”:”15.39 EST”,”blockLastUpdated”:1740441438000,”blockLastUpdatedDisplay”:”18.57 EST”,”blockFirstPublished”:1740429876000,”blockFirstPublishedDisplay”:”15.44 EST”,”blockFirstPublishedDisplayNoTimezone”:”15.44″,”title”:”Victorian government announces ‘townhouse code’ to ‘rapidly’ approve new home buildings”,”contributors”:[],”primaryDateLine”:”Mon 24 Feb 2025 20.24 EST”,”secondaryDateLine”:”First published on Mon 24 Feb 2025 14.30 EST”},{“id”:”67bcd7438f08692d35c6e6e5″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Senate estimates will be back under way today, and AAP has flagged a little of what we can expect:
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Creative Australia bosses, including the chief executive, Adrian Collette, will front an estimates hearing and it’s expected they’ll be questioned about the selection body’s shock decision to ditch the Venice Biennale team.
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Lebanon-born artist Khaled Sabsabi and curator Michael Dagostino had been chosen for the 2026 Biennale, until early works of art by Sabsabi were raised in parliamentary question time on 13 February.
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Khaled Sabsabi”,”caption”:”Artist Khaled Sabsabi.”,”credit”:”Photograph: Bec Lorrimer/The Guardian”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Creative Australia called a snap board meeting after question time and by 9.30pm that night it had rescinded its invitation to Sabsabi and Dagostino. Immediately after question time, arts minister Tony Burke called Collette to discuss the selection but Burke denies any political interference.
“,”elementId”:”c0c0d29f-7057-4ca6-a491-36d1ed19ad0a”},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”Artists who represented Australia at Venice Biennale call for Khaled Sabsabi to be reinstated”,”elementId”:”8e3b6d50-49ee-4e89-9fe8-7ecbf2c0b263″,”role”:”thumbnail”,”url”:”https://www.theguardian.com/artanddesign/2025/feb/23/artists-who-represented-australia-at-venice-biennale-call-for-khaled-sabsabi-to-be-reinstated”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Meanwhile, an estimates hearing will consider the Australian Broadcasting Corporation as former Nine Entertainment chief executive Hugh Marks prepares to start a five-year term as ABC managing director in March.
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Journalist Antoinette Lattouf’s departure has been a topic at previous estimates hearings, with questions about how much money the ABC was spending on legal fees. The broadcaster’s response in August means it remains unlikely the question will be answered at the hearing today:
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n
To avoid prejudice to the ABC’s position, or unintended interference or influence of the proceedings, questions on the costs of litigation should be deferred until the conclusion of those proceedings.
n
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Network Ten and Lisa Wilkinson have reached an agreement to cover her legal costs over the Bruce Lehrmann defamation trial.
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Ten previously agreed to pay Wilkinson the sum of $558,548.30, which is less than a third of the $1.8m in indemnity costs she sought.
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But yesterday the federal court confirmed an agreement between the parties for the network to pay Wilkinson $1,150,000.
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It has until 19 March to pay the remaining $591,451.
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Emily Wind here, signing on for blogging duties – thanks to Martin Farrer for kicking things off for us. I’ll be with you on the blog for most of today, guiding you through our rolling updates.
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As always, you can read out with any tips, questions or feedback via email: emily.wind@theguardian.com. Let’s go.
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The boss of Australia’s largest retail bank has penned a letter of reassurance to customers amid cost-of-living pressures and a slip in its shares, AAP reports.
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Commonwealth Bank chief Matt Comyn said in a letter that hit most patrons’ email inboxes on Monday:
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n
It’s been a challenging time for Australian households and businesses, and we know many customers have been looking forward to lower rates.
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For our variable home loan rate customers, the full interest rate reduction will hopefully provide some relief.
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CBA shares fell more than 8% last week – a fall mirrored by other major Australian banks – but recovered on Monday, rising 2.97%. Comyn declared in his letter that physical cash was “here to stay”, even if customers’ banking preferences may evolve:
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We’ll continue to distribute more than $4bn in cash each month through Australia’s largest branch and ATM network, which will also benefit from $100m in upgrades in 2025.
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We have extended our promise to keep all our regional CommBank branches open until at least 31 July 2027 to support communities and jobs in regional Australia.
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The Labor government has pledged $17.1m to provide more accessible beaches, parks and tourist locations for people with a disability. Social services minister Amanda Rishworth is launching the “Accessible Australia” initiative today in Cairns.
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It aims to provide federal funding for infrastructure such as more accessible change room and toilet facilities, all-terrain or beach wheelchairs, and “inclusive” play spaces for people with special needs.
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Rishworth”,”caption”:”Minister for social services Amanda Rishworth.”,”credit”:”Photograph: Mick Tsikas/AAP”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
An existing program, Changing Places, will be expanded to help people access parks and beaches, including funding for accessible pathways better suited to wheelchairs, “mobi-matting” suitable for people with wheelchairs or reduced mobility, and playgrounds with facilities like sensory play platforms.
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Rishworth’s office suggests the initiative could help attract more visitors to Australia, with the program to be promoted through Austrade. The minister said:
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Through Accessible Australia, we are significantly broadening the types of accessible infrastructure and amenities that will be built across Australia, providing access – for the first time for many – to national parks, beaches and play spaces.
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The Australian government will also provide funding to state and territory governments to help with the design, development and delivery of Accessible Australia projects.
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People with disability have the same rights to be included in our communities, to access the spaces we gather in, and to experience our beautiful natural environment.
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The Labor government is promising a “universal outdoor mobile obligation” if it wins the coming election, pledging what it calls a “world first reform” for universal call and SMS service across virtually all of Australia.
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Communications minister Michelle Rowland will launch the policy today. Her office says it will lead to up to 5m sq km of new outdoor mobile coverage across Australia, including more than 37,000km on regional roads. The new universal outdoor mobile obligation will require mobile carriers to provide access to mobile voice and SMS almost everywhere across Australia.
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Rowland said:
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Whether it’s in national parks, hiking trails or out on the farm, outdoor coverage will be accessible almost anywhere where Australians can see the sky.
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The plan would expand triple-zero access, boost voice and SMS coverage in mobile black spots, and improve mobile signals during disasters and power outages. The government says it would seek to introduce legislation this year, with implementation by late 2027, to “expand the universal service framework to incorporate mobile coverage for the first time”. Rowland:
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The government will work with stakeholders and industry to get the legislation right, including flexibility where warranted by supply, spectrum and other factors. The Albanese government will also engage with industry and examine incentives and removal of barriers to support public interest objectives and competition outcomes.
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Good morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it’ll be Emily Wind with the main action.
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Anthony Albanese says he is confident that the US would defend Australia if it were to come under attack, despite Donald Trump rewriting European security since coming to power. But the prime minister added that Australia needed to look after its own security and would make its own decisions on foreign policy, including on support for Ukraine.
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The comments came on a special edition of the ABC’s Q+A last night, in which he took questions from members of the public on foreign affairs, the cost-of-living crisis, housing and social cohesion. Reaction coming up.
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On the subject of the economy, the Commonwealth Bank boss Matt Comyn has written to his customers to reassure them amid cost-of-living pressures. He says high borrowing rates have proved a “challenging time for Australian households and businesses” and “we know many customers have been looking forward to lower rates”. More coming up.
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The Labor government is promising a “universal outdoor mobile obligation” if it wins the coming election, pledging what it calls a “world first reform” for universal call and SMS service across virtually all of Australia. More coming up as Michelle Rowland, the communications minister, launches the plan today.
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And Labor is also promising $17.1m to provide more accessible beaches, parks and tourist locations for people with a disability. More on that in a tick.
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Key events
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Domino’s shares battered as store closures hit profits
Traders have taken a slice out of Domino’s Pizza’s share price, AAP reports, after restructuring costs from store closures hit profits.
Shares in the Australian-based offshoot of the American fast food chain plunged more than 11% this morning as investors chewed a $22m loss for the six months ended 29 December.
The loss was a result of Domino’s incurring $115.6m in restructuring costs, of which $80.6m was related to the recently-announced closure of 205 loss-making stores, the majority of which were in the struggling Japanese market.
Domino’s chief executive Mark van Dyck said the “decisive” closures were among the first outcomes of a comprehensive business review intended to simplify the company and improve profitability.
Excluding non-recurring items, which also included legal costs and the rollout of a new finance and supply system, Domino’s recorded a 5.7% drop in net profit after tax compared to the same period the year prior.
Network sales fell 2.9% to $2.08bn, including a negative impact from foreign exchange fluctuations and store closures.
On a positive note, franchisee profitability rose 13.7% and same store sales grew 1.3%.
Catie McLeod
H7N8 bird flu detected on fourth poultry farm in Victoria
The H7N8 high pathogenicity avian influenza (bird flu) has been detected at a fourth poultry farm in Euroa, in north-eastern Victoria.
Agriculture Victoria said the new detection is within the 5km restricted area and in close proximity to the three other infected properties.
Before today, the latest detection had been on 20 February.
Victoria’s acting chief veterinary officer, Dr Cameron Bell, said the new detection was “not unexpected” given how close the affected properties were to each other.
This detection is the result of comprehensive and ongoing surveillance activities by Agriculture Victoria staff within restricted and control areas.
Control orders have been in place since the H7N8 strain was first detected on a poultry farm on 8 February.
The orders restrict the movement of poultry, poultry products, equipment, and vehicles on or off properties in designated zones around the infected properties to prevent the spread of the disease.
These zones include a restricted area covering a 5km radius around the farms, with a broader control area spanning the Strathbogie Shire east of the Goulburn Valley Freeway, and including the townships of Euroa, Violet Town, Longwood, Ruffy, Avenel and Strathbogie.
Krishani Dhanji
Government questioned on whether it will pursue Treaty and Truth following previous election promise
Over in legal estimates, the shadow attorney general, Michaelia Cash, has been testing the government on whether they’ll pursue Treaty and Truth, after promising to implement the Uluru Statement from the Heart in full at the last election.
Don Farrell is in the hot seat, representing the attorney general, Mark Dreyfus, and won’t bite on Cash’s attempt to force Labor to rule out pursuing Treaty and Truth if it’s returned to government.
Farrell says Labor had promised a referendum on the voice and delivered on that, but won’t tell the next government what to do.
With time ticking down before the election is called, Farrell says, “what the government will take to the next election will be very clear”.
Cash has also levelled an accusation at Dreyfus, saying he’d said to someone at an event that the government would try to “circumvent” the referendum result, but hasn’t provided any details on when or where that occurred. Farrell says he won’t “dignify that [accusation] with a response”.
Shortage of funnel-web spiders puts anti-venom program at risk, Reptile Park says
The Australian Reptile Park says it is urgently seeking more funnel-web spider donations to help sustain its venom program.
The park said this year’s funnel-web season had been slower than usual but upcoming humid and wet weather across Sydney was set to increase sightings of the spider.
Funnel-webs seek out sheltered, shady spots during rain, making houses and gardens the perfect environment. The park said it had received far fewer spiders than normal for this time of year, “which could have deadly consequences”.
No funnel-web bites have led to death since antivenom was introduced in 1981, but the park said:
Without a steady supply of spiders, the program is at risk.
Spider keeper Emma Teni is urging the public to catch any funnel-web spider they come across:
Every spider received could be the one that saves a life. The venom program relies entirely on public donations of these spiders, and without them, the production of antivenom— which has saved countless Australians— would not be possible.
To learn more about how to safely capture a funnel-web and donate it you can have a read online here.
Government releases response to review of paid family and domestic violence leave
This morning the government released its response to an independent review of the paid family and domestic violence leave.
The review found the leave was “life changing” for those accessing it and that there was broad stakeholder support from employers and unions.
In a statement from the minister for finance and women, Katy Gallagher, social services minister Amanda Rishworth and employment minister Murray Watt, they said the government accepts all five recommendations from the review. Work is now under way on:
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Integrating the leave as an ordinary workplace practice across Australian workplaces.
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Providing tailored guidance for priority cohorts, such as First Nations, culturally and linguistically diverse and casual employees.
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Training programs for first responders, health, allied health and community frontline workers who commonly interact with victim-survivors on the entitlement.
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Additional strategies to improve awareness and access to the entitlement.
The review also found that “ongoing stigma around family and domestic violence was a barrier to workers accessing the leave”, the joint statement said. The statement said resources would be updated and re-promoted to incorporate feedback from the review.
Cait Kelly
Everybody’s Home says ‘poll after poll’ shows support for winding back negative gearing and capital gains tax
Continuing from our last post: Everybody’s Home spokesperson Maiy Azize said the “worst housing crisis in living memory is smashing Australians” and “voters are ready to turn their pain into political power”:
Poll after poll has shown us that voters are open to winding back investor tax breaks like negative gearing and the CGT discount. This poll shows that voters strongly favour affordable homes over investor tax breaks. Twice as many voters say funding affordable housing, rather than property investor tax breaks, is the fairest way for the federal government to address housing affordability.
Phasing out investor tax breaks isn’t just fair, it will make housing more affordable. Every dollar that goes to property investors through tax breaks is a dollar that could build social housing for Australians.
Voters are demanding the next federal government make commitments that match the scale of the housing crisis. That means building more social housing, ending investor tax breaks and strengthening renter protections.
Cait Kelly
Only small number of voters support tax breaks for property investors, polling shows
New polling in key federal electorates reveals only a small percentage of voters support tax breaks for property investors – while almost half would like to see more funding for affordable homes.
Commissioned by Everybody’s Home, uComms polled more than 2,500 voters across Bennelong (NSW), Brisbane (Queensland), Cowan (WA) and Kooyong (Victoria) in February. The poll shows:
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Two in five (44%) prefer funding affordable homes, compared with only one in five (17.5%) who favour tax concessions for property investors.
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Two in five (44%) voters believe both Labor and Liberal are not committing to solutions that will make housing more affordable for most Australians, with only 9% of voters believing they are.
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Three in five (60%) are likely to vote for a party or candidate who prioritises solutions that make renting more affordable and secure.
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Housing (37%) is the biggest cost-of-living pressure for voters, followed by groceries (26%), energy bills (16%) and insurance (9%).
Woodside’s profit more than doubles to $5.6bn
Sticking with Woodside for a moment: AAP reports that its statutory net profit after tax rose 115% in 2024 to US$3.57bn (A$5.62bn) but that it will pay a smaller dividend.
Australia’s largest oil and gas producer said its underlying net profit for the 12 months to 31 December was down 13% to US$2.88bn, primarily due to lower oil and gas prices.
The company produced a record 193.9m barrels of oil equivalent in 2024, underpinned by strong early production at its Sangomar oilfield off the coast of Senegal, which generated US$950m in sales revenue since producing its first oil in June.
Woodside’s Scarborough project 375km off the Pilbara coast of WA is now 80% complete and on track for its first LNG cargo in 2026, chief executive Meg O’Neill said.
Woodside said its operating revenue was down 6% to US$13.2bn, as the average realised price it received for oil equivalent dropped 7%. Production costs were down 2% despite the inflationary environment, Woodside highlighted.
Woodside said it would pay a 53 US cent a share fully franked final dividend, down from 60 cents a share a year ago.
Albanese says delayed decision on North West Shelf gas project not about playing politics
Wrapping up the press conference, Anthony Albanese was asked why the government has delayed a decision on the Woodside-run North West Shelf gas project.
He rejected the notion this was “playing politics”, and deferred a further question to the environment minister.
PM rejects notion Australia would be involved in peace negotiations between US, Ukraine and Russia
Asked if Australia would be involved in peace negotiations between the US, Ukraine and Russia, Anthony Albanese said Australia had not been involved:
But our position is very clear. We regard the struggle of the people of Ukraine as being a struggle between a country defending its sovereignty, defending its borders, defending the rule of law, a democracy in the Ukraine, versus an authoritarian regime that has breached international law, that has engaged in barbaric activity and attacks against infrastructure and civilians in Ukraine.
This is an unlawful action by Russia. We have stood with the people of Ukraine, because their struggle is the struggle for the international rule of law.
Albanese says Defence was ‘certainly aware’ of Chinese live-fire exercise after Virgin pilot alerted to it
Another reporter asked Anthony Albanese if he is concerned it was a Virgin Australia pilot that first alerted to the Chinese warship live-fire exercise in the Tasman sea, rather than Defence?
He said the Defence was “certainly aware” and he had spoken with the chief of the ADF about what has occurred:
Australia has had frigates, both monitoring by sea and by air, of the presence in the region of these Chinese vessels.
PM says government has gone through budget ‘line by line’ to account for Medicare pledge money
A reporter asked how Labor is planning to fund its Medicare pledge – with Peter Dutton flagging public sector cuts to do so.
Anthony Albanese took aim at the Coalition for cutting jobs:
We accounted for much of this money as well, in the mid-year economic forecast. We have gone through the budget line by line. We didn’t do what the Coalition did, which was on Sunday say, ‘Oh yeah, we’ll just make this big commitment without knowing what it is, without seeing any of the detail before it’s even been announced.’
Albanese criticises Dutton’s move to cut public sector jobs
After Labor announced its Medicare pledge, Peter Dutton said the Coalition would match this dollar for dollar, cutting public sector jobs to fund it.
Speaking to reporters just now, Anthony Albanese claimed there was “no opposition health policy”:
There is no opposition health policy. They just said on Saturday, in something that it was sincere as a fake tan, said that he’d match it. Well, it’ll fade away, just like a fake tan does. And when they come into office, you can rest assured the cuts will be back, because he needs to make cuts.
Albanese said slashing 36,000 public servants would lead to “less people providing support for our veterans, less people providing the support that Australians need, perhaps more robodebt being brought back as well”.
PM attacks Dutton’s record as health minister
Speaking about the measures included in Labor’s Medicare announcement, Anthony Albanese claimed that “all of this is under threat if we are not successful in the election”.
As he has done in previous days, the prime minister is taking aim at opposition leader Peter Dutton’s track record as health minister, and said:
What we know is that Peter Dutton, when he was health minister, ripped $50bn out of the hospital system, tried to introduce a GP tax every time people visited a GP which meant, of course, abolishing bulk billing altogether. We know that he said there were too many free visits to the doctor, and that it was unsustainable … We know he tried to introduce a tax when people would visit a hospital, as well as a pharmaceutical tax. When he couldn’t get his way on that, he froze the Medicare rebate for six years, which is why bulk billing went into free fall.
Setting the scene for the federal election, the PM said the election campaign would be “about two different views of Australia, our health system, with Medicare at its heart”.
Albanese addresses reporters in Sydney
The prime minister, Anthony Albanese, is addressing the media in Chatswood in Sydney, touting the government’s $8.5bn Medicare pledge.
He said supporting Medicare was the “Australian way”, comparing it with the US healthcare system:
We do not need an Americanisation of the health system. What we need is for Australians to be able to rely upon the fact that when they need it, they will get the care that they need – and primary healthcare through our GPs is so important.
Nine flags further restructuring amid cultural reset
Jonathan Barrett
Nine Entertainment will expand its restructuring program into next financial year as part of a business and cultural reset after the company’s earnings were buffeted by subdued advertising conditions and the end of a content deal.
The broadcaster and publisher reported a 15% drop in its half-year group earnings to $268m, weighed down by the end of its arrangement with Facebook owner Meta.
Revenue from the company’s broadcast arm, its biggest division, fell 3%, while streaming revenue at 9Now jumped higher.
Nine said in its six-month results there would be further restructuring in the next financial year as part of a program to reduce costs.
It is seeking to find cost efficiencies of more than $100m by mid 2027. Nine’s acting CEO, Matt Stanton, told shareholders today:
At the same time, we intend to take this opportunity to transform both the culture at Nine and as leaders in the industry, the underlying cultural issues that have plagued the broader media sector in Australia for many years.
A bombshell report released last year revealed Nine had a systemic issue with the abuse of power and authority, bullying, discrimination and sexual harassment across the company.
The broadcaster is also looking to streamline its news operations for its television and streaming business. Stanton said:
We intend to streamline the news gathering processes nationally, aimed at ultimately improving news editorial workflow. We will look for opportunities to bring production to nine rather than rely on outside broadcast.
Source: www.theguardian.com