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Key Events
Unemployment hits four year high
Australia’s unemployment rate has risen to a four-year high of level 4.5 per cent following successive Reserve Bank interest rate rises and is now much worse than feared just a fortnight ago.
The jobless level for April was the highest since November 2021 when Sydney and Melbourne were in COVID lockdown, which could see the RBA delay raising interest rates again to tackle runaway inflation.
The proportion of people without work rose from March’s 4.3 per cent level following the Reserve Bank of Australia’s February and March rate hikes, but before the latest May 5 increase that took the cash rate to a 15-month high of 4.35 per cent.
The latest jobless rate is worse than updated RBA forecasts, released a fortnight ago, predicting a 4.2 per cent unemployment rate by June this year and a 4.4 per cent level in June 2027.
Trump’s choice for ambassador to Australia reveals his priorities
Donald Trump’s pick as next Ambassador to Canberra says a strong relationship with Australia gives the US an edge over China in the Indo-Pacific and is crucial to efforts to break Beijing’s dominance on critical minerals processing.
Former Congressman David Brat has told a Senate confirmation hearing in Washington that if confirmed in the role, his three priorities would be critical minerals, defence co-operation and partnership in the Indo-Pacific “amidst China’s unprecedented military build-up”.
Brat also confirmed his support for AUKUS, as revealed by The Nightly last month, when questioned over whether a review of the defence partnership had created unnecessary uncertainty in the alliance.
“The president said, ‘full speed ahead’. I think Bridge [Colby, the defence official who reviewed AUKUS] said, ‘I work for the president, it’s full speed ahead.’ And so, I’m full speed ahead,” Brat told senators, referring to the outcome of that review.
Wong hits out at Israel’s ‘degrading’ act towards Gaza protestors
The Albanese government has condemned Israel’s Minister of National Security, Itamar Ben-Gvir, for posting a “degrading” video of detained activists from the Global Sumud Flotilla, which at least 11 Australians have joined.
The politician has shared on social media with the caption: “Welcome to Israel,” showing detainees with their hands zip-tied behind their backs, kneeling on the ground, as Mr Ben-Gvir smiles, waves an Israeli flag and mocks the group.
“The images we have seen posted by Israeli Minister Ben-Gvir - who Australia has sanctioned - are shocking and unacceptable,” Foreign Minister Penny Wong said in a statement.
“We condemn his actions and the degrading actions of Israeli authorities towards those detained.”
“Australia’s Ambassador to Israel has made representations to Israel, reiterating our call for the release of the detained Australians and for Israel to ensure no ill treatment of any detainees and to act in line with international obligations.”
Israel’s Ambassador to Australia is also being hauled into DFAT for a diplomatic dressing down over the incident.
Albanese says his government has ‘the ticker’ for tough Budget
The Prime Minister says his government had “the ticker to take the ball up” by breaking promises in the budget to help improve housing affordability, but has conceded the move was a “tough call”.
In a series of radio appearances to sell the Government’s changes to the capital gains tax discount and negative gearing, Anthony Albanese has been asked about the backlash to the changes.
“I don’t want for the generation who are listening to this program and the ones to come to be the first generation to give up on housing, and that essentially is why we changed our position,” Mr Albanese told KIIS Brisbane.
“It’s a tough call, it was a big call for us to make. We could sit back and just watch things just continue as they were, or we could have the ticker to take the ball up (as they say) in rugby league.”
Zempilas says Minns attack a disaster for Labor
WA Opposition Leader Basil Zempilas says NSW Premier Chris Minns’ attack on the Federal Government and taxes is a “disaster”.
“That is disaster for Labor. Absolutely disaster,” he told Sunrise.
“When they are trying to sell this budget, not getting much traction, it is already unpopular, and then one of their golden boys comes out and bags it. That’s as bad as it can get.
“It can’t get any worse.”
It remains unclear if Mr Minns has spoken with Prime Minister Anthony Albanese or Treasurer Jim Chalmers after his extraordinary spray.
‘I’m not sure’: Shock answer after Minns hits out at Albo
Federal Labor says Australians won’t be waiting long before they benefit from more tax cuts after NSW Labor Premier Chris Minns said more needed to be done to tackle bracket creep and give Australians their money back.
Speaking to Sunrise on Thursday, Environment Minister Murray Watt said he was “not sure” if Prime Minister Anthony Albanese has spoken to Premier Minns after his comments on Wednesday.
Mr Minns said: “Whether it’s in this budget or it’s in the future, we do need to make sure that we’re doing everything we can to hand more money back to working Australians.”
“The top marginal rate of 47 per cent … you’re working Monday, Tuesday, and half of Wednesday for yourself, and then (the rest of) Wednesday, Thursday, and Friday for the government.”
It was a rare Labor-Labor attack between State and Federal Governments, one that has left the Albanese Government facing more criticism of its Budget.
“What our job is to do is to get out there and explain to Australians the tax cuts that are being delivered in this budget.,” Mr Watts told Sunrise.
“The Premier (Mr Minns) and all Australians won’t have to wait long until we see the next tax cut come into place for all Australian workers, because it will happen on the 1st of July.
“Those tax cuts that we took to the last election are rolling out year after year.”
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