Drought now affects 100% of the state of New South Wales, as new assistance and tax breaks were announced by both the Federal and the NSW State Government. A lot of the money from the Federal Government is going to mental health phone support and topping up the “living on the farm” tax break that farmers already get (I don’t know what that tax rebate is actually called but that was how I understood it from the news). However some farmers fear they may miss out because their land is too large.
There is also a bit of angst from some farmers who have invested heavily in drought proofing or preparation, because they don’t feel that those farmers that haven’t prepared should get rewarded for it; however if the drought goes on for too long, those that made preparations may also need the assistance, and if it isn’t there now they’ll be angrier in the future when they need the help. In some towns, they’re running out of water and even Sydney’s water supply is dropping. While Sydney is not yet at strict water restrictions like it was back in the 2000s, there is a chance we will, even after the desalination plant kicks into action.
As the Garma Festival came to an end this week, there is further criticism of the Prime Minister Malcolm Turnbull, as it appears he isn’t acting on or is simply rejecting suggestions that were made in the Uluru statement last year. One particular point of contention is the call for there to be an elected body of indigenous advisors to parliament, like a third house of parliament essentially, which Turnbull doesn’t want to even approach because he doesn’t think it will get through a referendum.
This week the banking Royal Commission has taken its focus to superannuation, looking into both industry and retail funds. Because super makes no sense sometimes, there will be no average people giving evidence, just experts and executives. The main focus has been NAB, who owns super fund MLC, and how they charged fees for no service (which is illegal) and then debated whether or not they should compensate customers and how.
Emma Husar’s political career will end at the next election, after she decided she would not re-contest her marginal Western Sydney seat of Lindsay. She said her reputation has been irreparably damaged. The awkward part in all of this is that the day after she made this announcement, the investigation into her conduct reported that while her management style is a little unusual and she can be heavy-handed, but in no way is she behaving inappropriately and she doesn’t need to resign from parliament.
The National Audit Office is looking into how the Great Barrier Reef Foundation, a small charity run by corporates, is using the money it was granted for Great Barrier Reef protection. There are suggestions that the money was potentially given to the foundation without a tender process. There are suggestions from former board members and employees that the organisation is less geared towards climate issues and that giving them such a large grant without much of a process.
Finally this week, ASIC will embed agents in financial institutions; Australia’s population hit 25 million sometime on Tuesday; the State and Federal Energy Ministers met this week to discuss lowering power prices while lowering emissions and keeping the energy reliable – which suggests we wont really get a lot of renewables in the mix for a while yet; and there are concerns over how providers are handling customers who go it alone paying to get fibre to the premises, and then when their neighbours decide they want it too, they don’t get any compensation, despite the fact they have made it cheaper for everyone else in the street.
Tweet of the Week
Cool history things. 🙂
Things I’ve Been Looking at Online
Daniel Ziffer on the Banking Royal Commission’s look into super – ABC Online
Apparently Tony Abbott and the Greens are on the same side – ABC Online