TRANSCRIPT
The Reserve Bank is holding its first meeting of the year on interest rates, with its decision to be announced tomorrow afternoon. [[tue 18 feb 1430 AEDT]].
The decision comes at a critical time for the government, with a federal election now three months away at the latest.
Federal Treasurer Jim Chalmers says the government has done all it can to make conditions favourable for an interest rate cut.
"We're focused on our job as I keep saying, we have made very substantial progress together on inflation. We have been able to get wages up, we have been able to keep our unemployment low. The Reserve Bank will grapple with all of the data in the economy, and will come to a decision independently tomorrow."
All four major banks are predicting that the Reserve Bank will decide to cut the official interest rate tomorrow.
The official cash rate has been at 4.35 percent since November of 2023, after eighteen months of persistent hikes to try and counter inflation.
Rates haven't been cut since November of 2020.
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Federal Opposition leader Peter Dutton says 27-thousand [[27,000]] businesses have gone broke in the last two and a half years [[2.5]] years, under the Albanese government.
It follows his recent coalition policy announcement that allows small businesses with a turnover of up to $10 million dollars to claim tax deductions for meal or entertainment.
Mr Dutton says that people are encouraged to spend more money under this proposed policy, allowing for economic activity in the hospitality and retail field, and making things easier for businesses.
"That's about 2 million businesses, 98% of small businesses can come down to a coffee shop or to a restaurant or to a pub or club, and they can bring their clients down, they can bring their employees down. There won't be any fringe benefits tax applied, there won't be complicated reporting of the expense when they come down, but they will be able to claim a tax deduction of up to $20-thousand dollars in any one year."
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Victoria Premier Jacinta Allan says Former Police Commissioner Shane Patton had no choice but to resign.
Mr Patton, who had been a policeman since 1978, announced his immediate departure last night, after a vote of no-confidence in him by more than 12,000 of his nearly 15,000 officers.
Ms Allan says it sent a clear message that police members are looking for a fresh start.
"The overwhelming, the overwhelming vote of police members that came through on Friday, demonstrated to me two things. One, it was an outcome that simply could not be ignored. And secondly, it sent a very clear message that police members were looking for a fresh start. And that response, that vote was something that simply could not be ignored."
Wendy Steendam will step up from her role as Victoria Police Deputy Commissioner to be the interim Victoria Police Chief Commissioner whilst Victoria's Emergency Management Commissioner, Rick Nugent, transitions into the role.
Mr Nugent will then hold the job temporarily until a permanent Chief Commissioner is found.
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New South Wales Premier Chris Minns says the last thing he wants to do disrupt the commuters of New South Wales- even as many of them are experiencing just that.
Hundreds of Sydney train services were again cancelled this morning, as staff with the Rail, Tram, and Bus union continue to take industrial action.
Despite the disruption, Mr Minns says giving in to the demands to the striking workers would not be in the interest of the New South Wales public.
"The government cannot give in to the union's blackmail of the New South Wales government. If we were to do that, if we were to handover a blank cheque, if we were to continue endless negotiations, or even pay heed and accept the latest hair brain idea from the union, it would mean more industrial disruptions and it might be in 3 months or 6 months or 12 months, but it will only embolden them."
There will be a meeting at the Fair Work Commission on Wednesday regarding the industrial action [[19 feb]], and Mr Minns says he is hopeful that the commission will step in to end the chaos.
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The Torres Strait Island Regional Council [[T-S-I-R-C]] is calling on governments to strengthen the border.
It comes as Torres Strait Islanders say there’s been an increase in foreign nationals using a ‘weak’ border to ‘sneak’ into Australia.
Authorities confirmed last month that two Romanian men arrived illegally on Masig Island and unlawfully boarded a plane.
T-S-I-R-C Mayor Philemon Mosby told SBS it's important for the future of Torres Strait that it be protected.
“What we've seen in the inconsistency of permanent, relevant authority staff has caused an eye level of frequent breaches in the Torres Strait Treaty, not only from people within the Torres Strait village treaty villages, but from other foreign countries that have come through P-N-G to try and sneak into Australia through the Torres Strait.”
Authorities say the Romanians are in detention in Brisbane and investigations are underway.
The Minister for Home Affairs Tony Burke is yet to respond to the latest incursions and calls for action.
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The number one pick in the A-F-L draft, Richmond's Sam Lalor, may have suffered a concussion in a practice match.
Lalor had to come off the ground after a nasty collision with the West Coast Eagles' Sandy Brock late in the pre-season contest in Perth.
The 18-year-old lay on the turf for about a minute after the incident, being assessed by medical staff, before he walked off the field.
Richmond have confirmed he has a sore jaw, and is in concussion testing protocols.
Before his injury, Lalor kicked two goals in the match
West Coast's Tyler Brockman kicked three.
The Eagles won the match, 62 points to 26.
