Australia news live: Chalmers and Gallagher to present final budget outcome; RBA interest rate hike looms
1m ago 23.05 BST Bogong moths descend along NSW coast during annual migration Australians along the east coast are reporting many sightings of endangered bogong
1m ago 23.05 BST Bogong moths descend along NSW coast during annual migration Australians along the east coast are reporting many sightings of endangered bogong moths as the insects continue their long migration towards the country’s alpine regions. Bogong moths, about the size of a bottle cap with a distinctive dark stripe that runs down each wing behind two white spots, used to be incredibly abundant. But populations collapsed by up to 99.5% in the two years before 2019. View image in fullscreen Bogong moths. Photograph: Bloomberg/Getty Images Massive swarms of bogong moths once resembled rain clouds – then their numbers crashed to earth Read more Zoos Victoria has a citizen science initiative called moth tracker where you can upload sightings and track the migration. Reports currently show the moths traveling from north of Newcastle all the way down the NSW south coast towards the border with Victoria. They can be blown towards the coast by westerly winds and can be drawn inside homes by lights, the Australian Museum says. People are encouraged not to kill the moths to aid population recovery. “Noted: add ‘moth plague’ to warnings in future,” NSW SES wrote on social media. Allow Facebook content? This article includes content provided by Facebook. We ask for your permission before anything is loaded, as they may be using cookies and other technologies.
To view this content, click 'Allow and continue'. Allow and continue Share 13m ago 22.54 BST Gallagher says final budget outcome will show $6bn improvement Katy Gallagher and the treasurer, Jim Chalmers, are set to present the final budget outcome today, which she said will show about a $6bn improvement since the federal budget. She told RN: double quotation mark We do everything we can to make sure that the budget is in as good a shape as it can, acknowledging that we are having to find room to invest in all these areas that the Australian people care about deeply and want to see improved services in. Share Updated at 22.57 BST 21m ago 22.45 BST OpenAI breach signals a ‘new world’: Katy Gallagher Katy Gallagher, who is also the minister for government services, is speaking this morning about the OpenAI breach of Medicare, saying we are essentially “in a new world” with the brisk advancement of technology. She told Radio breakfast this morning: double quotation mark I think this incident really adds weight to the arguments that the PM that has been putting forward about needing to legislate, to provide some protections, some guardrails, and also, you know, have an escalation pathway. I mean, the idea that something happened in June 18th and we weren’t aware of it until the second week of September is just not acceptable.
Gallagher said mandatory reporting requirements should be imposed “at a minimum”. She said there should be consequences while acknowledging that OpenAI had been helping in the investigation after the incident. double quotation mark I think we have to have a look at this incident and deal with it on its merits, but the broader question of how we deal with these in the future. View image in fullscreen Katy Gallagher. Photograph: Hollie Adams/Reuters Share Updated at 22.56 BST 36m ago 22.30 BST Interest rate hike looms as inflation stubbornly high Rising unemployment, stubbornly high inflation and a looming interest rate hike are piling misery onto Australian consumers, but Labor insists better days are on the horizon, Australian Associated Press reports. The pinch of optimism comes as mortgage holders brace for the Reserve Bank of Australia to lift the official interest rate to a near-15-year high of 4.6% on Tuesday, an outcome money markets are treating as largely a foregone conclusion. Central bankers in the US, Japan and Europe have all pushed interest rates up since the RBA’s board met in August, all crediting their decisions to rising oil and fuel prices resulting from the increasingly intractable US-Iran war. On Sunday the deputy prime minister, Richard Marles, said the government knew households were “doing it tough” and was working to put downward pressure on inflation.
Average fuel prices in Australia’s five largest cities had risen to $2.37 per litre for petrol and $2.69 for diesel as of Wednesday, but Labor has rejected calls for it to reinstate a previous cut to fuel taxes to help ease the burden on road-users. Inflation, which came in hotter than expected in August, could rise from 3.5 to 4% when the Australian Bureau of Statistics publishes its latest figures on Wednesday. Read more here: RBA expected to hike cash rate to 4.6%, its highest level since 2011 Read more Share 51m ago 22.16 BST Chalmers and Gallagher to present final budget outcome Tom McIlroy The treasurer, Jim Chalmers, and the finance minister, Katy Gallagher, will present the final budget outcome on Monday, the updated accounting measure for the 2025-26 financial year. Despite challenges facing the government, Chalmers is expected to say the figures show the budget deficit is smaller than originally forecast. He will argue the improvements are worth billions of dollars to the budget. Share
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