In this bulletin, a debate over whether to scrap a major environmental policy, as parliament returns. The Treasurer defends tax concessions for retirees in the wake of the economic roundtable. And in tennis, Jordan Thompson is the first Australian through to round two of the US Open.
Key Points
- Coalition debate future of net zero emissions target as Prime Minister weighs in
- Treasurer defends tax provisions that he says incentivise building superannuation
- Australian tennis player Jordan Thompson heads to second round of the US Open
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TRANSCRIPT
A coalition split over net zero will play out in parliament as crossbench MPs push for stronger climate action.
Nationals MP Barnaby Joyce has revived his bill to scrap emissions targets, which Labor has allowed to be debated today.
The bill is certain to fail but is expected to expose divisions between Nationals who want the target repealed and moderate Liberals who say it must remain to show credibility on climate change.
Prime Minister Anthony Albanese is accusing the opposition of reigniting what he calls the climate wars.
"It is defying what we see happening around us and defying the science. If you get rid of net zero, you are saying climate change is not real and you do not need to do anything about it. ... Now our opponents are having a debate, and they have one on the weekend at the LNP conference, we had the leader of the opposition come along and be repudiated by more than 90 per cent of members at that LNP conference."
Data released by Climate Change Minister Chris Bowen found Australia is tracking well to meet its 2030 target to reduce greenhouse gas emissions by 43 per cent from 2005 levels.
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Retirees should continue to receive concessional tax treatment on their superannuation, Treasurer Jim Chalmers says, despite growing pressure for broader tax reform.
Speaking after a three-day productivity roundtable in Canberra, Dr Chalmers says fairness for younger generations must be part of future tax discussions.
While feedback from the summit would shape upcoming budgets, he's told the ABC there are no plans to change tax concessions for retirees’ super balances.
“They still deserve concessional treatment to encourage people to be in superannuation, and that’s not something we are proposing to change. ... We acknowledge that there are issues in superannuation and tax, and that's why two and a half years ago, I proposed what is a pretty modest change, but a meaningful change which makes the system a bit more sustainable, but still maintains an element of concessionality when it comes to tax treatment and super.”
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The Albanese government is set to bring forward the expansion of a scheme allowing first home buyers to put down a deposit of as little as five per cent.
While previous iterations of the initiative had a yearly cap on participants, the scheme will now be open to all home buyers.
Originally slated for implementation in January 2026, the expanded scheme will begin rolling out from October.
Under the scheme, a first home buyer looking to purchase a property at the national median price of $844,000 would only need a $42,200 deposit.
Housing minister Clare O'Neil says it is clear young people need greater access to the property market.
"This policy is going to have a hugely meaningful impact for the people who choose to use it. What we know is that it is incredibly challenging for this younger generation to get into home ownership. We are seeing young people having to save 8 or 9 years to build a deposit. With the 5 per cent deposit program that our government is expanding, we see that timeline brought back to two or three years."
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Iran’s Supreme Leader has declared the standoff with the United States unsolvable, insisting Tehran will never submit to US demands over its nuclear program.
Ayatollah Ali Khamenei’s remarks follow the suspension of nuclear talks with Washington after US and Israeli strikes on Iranian nuclear sites during a 12-day war in June.
Although Iran and European powers agreed last week to resume discussions aimed at reviving full negotiations, France, Britain, and Germany have warned they could trigger further UN sanctions if Iran refuses to re-engage.
Western governments maintain Iran is seeking to develop nuclear weapons, a claim Iran rejects, saying it only wants nuclear energy.
Ayatollah Khamenei accuses the US of disrespecting Iranian sovereignty.
“This issue of negotiation with America is unsolvable. The President of the U-S wants Iran to obey America’s orders. The Iranian nation is deeply offended by such a great insult and will stand up, with all its strength, to those who hold such misguided expectations.”
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Jordan Thompson is the first Australian into the U-S Open second round after a 6-2 / 6-4 / 1-6 / 6-3 win over France’s Corentin Moutet in New York.
After dropping the third set and venting his frustration, Thompson regrouped and sealed victory with a backhand smash and a net finish.
He next faces French left-hander Adrian Mannarino.
Compatriot Rinky Hijikata exited earlier, losing 6-2 / 6-1 / 6-2 to Italy’s 32nd seed Luciano Darderi.
Meanwhile, former tournament winner, Britain's Emma Raducanu has won her first US Open match in four years, with a straight sets defeat of Japanese qualifier Ena Shibahara.
Raducanu says she overcame nerves and was pleased with her performance.
"It's a very special tournament for me, I did feel different coming into it this year. I felt like I was doing the right things day to day. But it is at the back of your mind and I'm very pleased to have overcome that."
