LABOR EXTENDS REIGN IN ACT; WA NAVAL LIFT

Labor on course for 27-year rule in Canberra

Labor is set to extend its 23-year reign in power in the Australian Capital Territory, with the government of Chief Minister Andrew Barr returned on Saturday. Results from the quadrennial ACT elections show that Labor has been returned with up to 12 seats, the Canberra Liberals between eight and 10, the Greens one or two seats, and Independents potentially two, in the 25-seat ACT Legislative Assembly. The make-up of a minority Labor government will depend on final numbers. Mr Barr succeeded now-Federal Finance Minister Katy Gallagher as Chief Minister in December 2014, making him the longest-serving current state or territory leader in Australia.

Upgrade to WA base for submarines, general purpose frigates

A consolidated Defence precinct will be established at Western Australia’s Henderson shipyard, as the Federal Government ramps up naval shipbuilding under the AUKUS project. Prime Minister Anthony Albanese announced the upgrade, to support Australia’s capability to safely and securely own, operate and sustain conventionally-armed, nuclear-powered submarines. Initial investment is $127 million to commence works at the Henderson site. The new Defence precinct will support the building of new landing craft for the Australian Army and new general-purpose frigates for the Navy, reinforced by requisite large vessel infrastructure. In addition, the precinct will provide depot-level maintenance and contingency docking for the nuclear-powered submarines.

Funding the main barrier to business R&D, says Husic

A Federal government report on innovation has found that access to funding is the main barrier to private investment in research and development. Industry and Science Minister Ed Husic said analysis by Australian Innovation Statistics (AIS) reported that business investment remained low, hampered by funding access, costs, and access to skills. The AIS analysis showed that the number and volume of venture capital deals were continuing to decline. In 2021, the aggregate value and number of venture capital deals had risen sharply to $8.7 billion and more than 400 deals, but had fallen to $3.8 billion and 260 deals in 2023.

Education minister bemoans falling high school completion rates

Education Minister Jason Clare said the number of people finishing high school in Australia had dropped from 83 per cent to 73 per cent in the last 10 years. Promoting reforms in education while in Tasmania, Mr Clare said that more jobs required people to finish school and then proceed to TAFE or university. He said the drop-out rate was particularly evident in public schools. Mr Clare said that one in three children from poor families were below the global literacy standard when they were little, and only 20 per cent of those children had caught up by the time they were 15.

Renewables growing but dependent on transmission rollout

Climate Change and Energy Minister Chris Bowen has talked up progress towards the target of an 82 per cent renewable energy component in the national electricity grid by 2030. Mr Bowen said that in September, renewable energy comprised a record 46 per cent of the national electricity market, and early in October, peaked at 74 per cent. Speaking at an industry forum to announce an enlarged national tender for renewables under the Capacity Investment Scheme, Mr Bowen said there was a strong investment appetite for delivering more renewables quickly. But he warned that the transmission grid needed to be expanded and strengthened, to ensure the new renewable energy could get to where it would be consumed. The Minister cited regulatory estimates that 5,000 km of transmission lines needed to be built or upgraded between now and 2030, with one-quarter already under construction or complete.

International student numbers trending down

Monthly international student arrivals into Australia are 15 per cent lower than in the corresponding pre-Covid period in 2019, according to latest figures. The Australian Bureau of Statistics said that in August, 46,620 international students arrived in the country – a decrease of four per cent on August 2023 and well below the almost 55,000 students who arrived in the same month in 2019. While the number of international arrivals in higher education increased on 12 months earlier, the number of student arrivals in vocational education and training fell sharply, by more than 33 per cent.