CLP RIDES HIGH IN TOP END; NDIS CURBED
CLP turfs out Labor in Northern Territory election
Labor has been defeated in the Northern Territory election, with the Country Liberal Party (CLP) returning to office after eight years. Initial voting results has CLP Leader Lia Finocchiaro securing at least 15 seats in the 25-seat Legislative Assembly. Outgoing Labor Leader Eva Lawler, who succeeded Natasha Fyles as Chief Minister in December 2023, lost her seat in the election. Ms Finocchiaro has targeted crime prevention and economic recovery as first-term priorities. The CLP Leader, 39, is a qualified lawyer who has served in the NT Parliament since 2012. The new CLP regime will become the only non-Labor government on mainland Australia, with the Tasmanian Liberal government in minority.
NDIS legislation aimed at reining in budget costs
National Disability Insurance Scheme (NDIS) Minister Bill Shorten says legislative changes will return the scheme to its original intent, while clamping down on fraud and bloated waste. Mr Shorten told a media interview that a crackdown on fraud had identified around $600 million in potential savings, accompanied by moves to register all NDIS providers. Tougher guidelines on NDIS expenditure would also provide greater guidance on what could be purchased, with the Minister citing purchases of dishwashers, washing machines and overseas travel as inappropriate. Mr Shorten said the $42 billion scheme would still cost more next year, and more people would be admitted to the scheme, noting that 400,000 transactions a day were paid on the NDIS. Legislation to reform the NDIS passed through Federal Parliament on August 22.
Australia strikes defence co-operation deal with Indonesia
Australia has struck a Defence Co-operation Agreement with Indonesia, signalling stronger interoperability between the two nations and greater support of each other’s security. The bi-lateral defence agreement was struck after a meeting between Prime Minister Anthony Albanese and Indonesia’s President-Elect, and current Defence Minister, Prabowo Subianto, as well as Deputy PM Richard Marles. Mr Marles said the agreement would provide for more joint exercises between Australian and Indonesian defence forces, in the interests of supporting the rules-based order. The Deputy PM said he was due to formally sign the agreement in Indonesia on Thursday August 29.
Farrell confident of free trade breakthrough with US
Trade and Tourism Minister Don Farrell remains confident that the United States will strengthen its free trade relationship with Australia, despite America’s recent rejection of a trade objective in the Indo-Pacific Economic Framework. Senator Farrell said he would continue to seek US support for the trade component of the framework, which was excluded from the agreement signed in Singapore. Attending the Democratic National Convention in Chicago, Senator Farrell told a media interview that the US “gets all sorts of advantages” out of Australia extending its free trade agreements. He said he was hopeful that once the US election was concluded, Australia could expand its trade relationship with the US in areas such as defence (via AUKUS), agriculture and critical minerals. Senator Farrell said Australia was on the cusp of a golden age in critical minerals, but it needed investors to bring it about, and the US had the opportunity to be a major investment partner.
National Competition Policy faces major review
Treasurer Jim Chalmers has announced a review of National Competition Policy (NCP), in a bid to deliver a more productive and competitive economy. A review of competition policy in the early 1990s led to widespread changes across the national, state and territory economies, but Dr Chalmers said the NCP needed to be updated to remain fit-for-purpose. Federal, state and territory treasurers agreed to the review in December 2023, targeting pro-competitive reforms that could identify cost-of-living measures. A consultation paper issued by Federal Treasury said that productivity growth had slowed over the past decade, with reduced competition a contributor, and evidence of increased market concentration, a rise in mark-ups, and reduced dynamism across many parts of the economy.
Scam loss numbers in reverse, say Feds
Losses to scams in Australia are falling for the first time in almost seven years, according to Assistant Treasurer Stephen Jones. The Minister said annual losses caused by scams fell in 2023, after rising by 84 per cent in 2021 and by 75 per cent in 2022. Mr Jones said data was becoming a powerful tool in stopping scams; the installation of call disruption technology – using intelligence from scam reports – was used this year to intercept a call between a scammer and a potential victim, preventing $300,000 in losses. He said the Federal Government would soon introduce legislation imposing tough obligations, including potential for compensation payments, on banks, telecommunications providers and social media companies.