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TRANSCRIPT
- The Treasurer says Inflation to be the central challenge of this year's federal budget
- The iconic Mardi Gras parade route to be heritage listed
- Gold medallist Cooper Woods reflects on his Winter Olympics campaign.
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The Treasurer has identified higher-than-expected inflation as the central challenge shaping the upcoming federal budget.
He says that pressure is driving the need for additional savings, despite the government's broader policy ambitions.
New figures show underlying inflation rose to 3.4 per cent in January, with the Reserve Bank saying it continues to place greater weight on underlying measures when assessing its next move.
Treasurer Jim Chalmers told ABC Radio that the government is taking the figures seriously as it finalises its budget strategy.
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National MP Bridget McKenzie has criticised Treasurer Jim Chalmers' management of the economy following the latest inflation figures.
New data shows underlying inflation rose to 3.4 per cent in January, adding to pressure on households and strengthening the case for possible interest rate increases.
Ms McKenzie argues the figures reflect excessive government spending and says the upcoming budget presents a key opportunity to rein in costs.
She has told the Today Show that the Treasurer needs to change course.
"We need Jim Chalmers to do less of this and start doing this, because the budget is the perfect situation to actually get this spending profile under control, because Australians are going to be seeing their interest rate rises go up and up and up."
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Trade Minister Don Farrell has confirmed the United States will keep its 10 per cent baseline tariff on Australian goods following a US Supreme Court ruling.
Donald Trump had flagged a lift in global tariffs to 15 per cent, after the country's Supreme Court found existing measures for a 10 per cent tariff unlawful.
Mr Farrell now says Australia would be spared from the increase.
He has told Channel Nine that US officials confirmed the tariff level would remain unchanged for Australian exports.
"So we saw over the weekend that the figure was supposed to be 15 per cent, which was certainly the figure President Trump announced over the weekend. But in discussions with my counterpart's office, they have confirmed the figure remains at 10 per cent."
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Iran's Foreign Minister says Tehran could reach an equitable nuclear deal with the United States as negotiations resume in Geneva.
Abbas Aragchi says Iran is willing to engage with concerns and offer concessions, but would not surrender its right to use nuclear technology for peaceful purposes.
"We are a committed member of NPT, Non-Proliferation Treaty, and we have accepted not to have nuclear weapons, but at the same time, we have full rights to use nuclear technology for peaceful purposes, and we want to practice that right. If there is any question, as I said, if there is any concern, we are ready to address. So we can build confidence on our nuclear program."
Abbas Aragchi says Iran will remain committed to international nuclear obligations while seeking sanctions relief.
US Vice President JD Vance says he's seen evidence to the contrary.
"But the principle is very simple, Iran cannot have a nuclear weapon, if they try to rebuild a nuclear weapon, that causes problems for us. And in fact, we've seen evidence that they have tried to do exactly that."
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The Sydney Gay and Lesbian Mardi Gras parade route has been added to Australia's National Heritage List, recognising its historic and cultural significance.
The two-kilometre route through central Sydney marks the site of the original 1978 protest and its role in the marriage equality movement and broader campaigns for reform.
The Albanese government approved the listing after a nomination by the Heritage Council of NSW, acknowledging both the struggle faced by the 78-ers and Mardi Gras’ enduring place in Australia's history.
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Winter Olympic gold medallist Cooper Woods says the scale of his Milan-Cortina triumph has finally sunk in after a rousing welcome home at Sydney Airport.
Woods, who claimed an unexpected gold in the men's moguls, returned alongside aerials silver medallist Danielle Scott to cheering fans and autograph seekers.
The 25-year-old's victory helped power Australia to its most successful Winter Games, with three gold medals overall.
Australia finished the campaign with three gold, two silver and a bronze in a record-breaking haul on the ice and snow.
