“Ridiculous” for Dutton to Take Comfort from “Lethargic” Fadden Byelection Win, says Marles
Deputy Prime Minister Richard Marles downplayed the small swing against Labor in the Fadden byelection, stating that it was below the average swing expected against a sitting government. However, Marles emphasized that Liberal leader Peter Dutton should not take any comfort from the result. The byelection in the safe Gold Coast-based seat was caused by the resignation of former minister Stuart Robert, and the LNP candidate Cameron Caldwell won the seat with a 2.4% swing. Marles acknowledged that Labor was outspent in the campaign and stated that they were focused on the cost of living issues faced by Australians.
Marles criticized the idea that the result gave Dutton breathing room as the swing against a sitting government in their heartland was below average. He highlighted that Labor listens to the electorate and does not take anything for granted. Marles dismissed the notion that Dutton should take comfort from the result, emphasizing that it would be ridiculous for a Queensland leader of the Liberal party to find comfort in this outcome.
Mandatory Gas Code of Conduct May Not Lower Prices, Exemptions Limit Its Impact
Following the introduction of the federal government’s mandatory gas code of conduct, it has been revealed that the code will have no effect on supplies already under contract. The emergency price cap, implemented after significant gas price increases, is set at $12 per gigajoule. However, this price cap only applies to domestic wholesale offers and does not include export contracts, short-term supply, smaller producers, or LNG imports. As a result, Australia may soon be importing more LNG for domestic use outside the code’s provisions. Industry experts question how much gas is actually subject to the price cap, estimating it to be a small percentage of total east coast production.
Liberal Deputy Leader Sussan Ley Calls the Appointment of Michele Bullock for RBA a “Sound” Choice
Deputy Liberal Leader Sussan Ley praised the choice of Michele Bullock to lead the Reserve Bank of Australia, stating that it was a “sound” decision. However, Ley criticized the government for not doing enough to combat inflation and called for a plan to control it. The RBA has been gradually raising the cash interest rate to rein in inflation. Ley urged the government to focus on a comprehensive plan to address inflationary pressures rather than relying solely on the RBA.
Coalition Launches Campaign Criticizing Labor’s Economic Policies
Following their victory in the Fadden byelection, the federal Coalition plans to launch a campaign targeting the Labor government’s economic policies. Deputy Liberal Leader Sussan Ley will lead the campaign, starting in Treasurer Jim Chalmers’ electorate of Rankin and continuing throughout Queensland, Victoria, Tasmania, and South Australia. Ley criticized Labor’s approach to high inflation and emphasized the impact it has on Australian families and small businesses. She called for a government with a proper plan to address these challenges.
Treasurer Jim Chalmers to Attend G20 Meeting in India
Treasurer Jim Chalmers will attend the G20 finance ministers and central banks meeting in India. Chalmers highlighted the challenging global economic environment and the need for collaboration and coordination in dealing with inflationary pressures and building a strong and sustainable global economy. He will update counterparts on Australia’s responsible economic management, efforts in sustainable finance, and the importance of investing in renewable energy. Chalmers acknowledged that while Australia is not immune to global uncertainties, the country is better placed than others to face the challenges ahead.
Global Economy Pressures “Felt around Kitchen Tables,” says Treasurer
Treasurer Jim Chalmers discussed his upcoming trip to the G20 finance ministers meeting in India, emphasizing the importance of understanding global economic pressures and aligning economic policies accordingly. Chalmers stated that the pressures felt around the world are also affecting Australian households, and it is crucial to address these issues. He highlighted the need to make progress on sustainable finance and invest in the energy transformation. Chalmers also mentioned the importance of coordination with Pacific nations in tackling global economic challenges.