TRANSCRIPT
- Peter Dutton claims Australia headed for a recession under Labor...
- South Korea calls a snap election for June...
- NBA prospect Alex Condon becomes first Australian to play in and win US national college championship.
Federal Opposition leader Peter Dutton claims Australia is heading into a recession under the Labor Party.
It comes after Treasurer Jim Chalmers said he is confident the Australian economy would ride out international trade instability triggered by a wave of tariffs from the United States.
But Mr Dutton argues Labor has left Australia vulnerable to these global forces.
REPORTER: "Is Australia heading into a recession?"
DUTTON: "It is under Labor. The government hasn’t prepared our economy. Labor has made decisions in subsequent budgets now which make it harder for the economy to function with international head winds. And if we see further actions out of the U-S, or retaliatory action from China or other countries, then there is a very significant chance of a recession in the U-S, of a global recession otherwise. And those waves, huge tsunami waves will hit our shores in no time at all."
Greens Senator Sarah Hanson-Young has called on the Reserve Bank of Australia to cut interest rates as soon as possible to offer immediate relief to families.
Last week the Reserve Bank of Australia held interest rates steady at 4.1 per cent after its first rate cut in nearly five years, in February.
Treasurer Jim Chalmers says the market is expecting a further four interest rates cuts to come in 2025 with significant relief expected following the R-B-A's meeting next month [[May]].
But Greens Senator Hanson-Young says the R-B-A shouldn't wait a month when it can offer support now.
"There is nothing stopping the R-B-A from calling a meeting before next month, this week, and offering that certainty and that relief to families. There's already talk across the board that we may expect up to four interest rate cuts from the RBA before the end of the year. Ok, well let's get on with it. Stop making families wait and do it now."
Prime Minister Anthony Albanese and Opposition leader Peter Dutton will come face-to-face in the first debate of the federal election tonight [[TUES 8th April]] after trading insults on the campaign trail.
The two leaders will be quizzed by 100 undecided voters at a people's forum in western Sydney at 7:30pm on Sky News today.
Cost-of-living pressures, housing, healthcare and the impacts of U-S President Donald Trump's tariffs and subsequent stock market volatility are likely to be key issues.
Workplace rights are also likely to be on the agenda after Mr Dutton backtracked on plans to ban public servants from working from home.
Defence Minister Richard Marles says he hopes a wage boost for 22,000 service men and women will boost recruitment.
Minister Marles has welcomed a decision from the Defence Remuneration Tribunal to increase wages for defence personnel working in areas such as intelligence, construction, engineering, signals, communications and cyber security.
He says these areas are critical to Labor's planned growth for Australia's defence capabilities.
"About 37 per cent of the defence force will receive the benefit of this wage increase which will amount to about $5000 each and every year for these personnel. Recruitment and retention has been a challenge for the Australian Defence Force. We need to be making sure that the defence force is growing. We are budgeting for significant growth in the defence force over the next 15 years and it's really important that we're attracting people to the defence force and in critical areas such as those that are the focus of today's wage increase."
South Korea's government has called a snap election for June 3rd after former president Yoon Suk Yeol was removed from office over his short-lived declaration of martial law.
Mr Yoon was removed by the Constitutional Court for violating his official duty by issuing the martial law decree on December 3rd and mobilising troops in an attempt to halt parliamentary proceedings.
The cabinet has now agreed on the June 3rd date after discussions with the National Election Commission since it needed to approve a public holiday for the election.
Acting Minister of South Korea’s Interior and Safety Ministry, Ko Ki-dong, says the government will ensure a fair transition of power.
"This is an election to select the next president within a short period of 60 days. Given the unprecedented level of public interest, we will ensure the election is conducted in a fair and transparent manner."
In sport,
NBA prospect Alex Condon has become the first Australian basketballer to play in and win the U-S national college championship.
Condon's Florida Gators defeated the Houston Cougars 65-63 in a nail-biting game today [[TUES 8th April]] to claim their first March Madness title since 2007.
The 210cm 20-year-old became the highest-scoring Australian in a national championship final, recording 13 rebounds, 12 points and four turnovers.
His coach Billy Napier also became the youngest coach to win the championship since 1983, aged 39.
