Received
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 71
The role of the central bank, supermarkets and energy companies in the cost of living crisis will be scrutinised at a parliamentary hearing.
The Senate committee on the cost of living will hear from the Reserve Bank, Woolworths, energy companies and welfare groups on Wednesday.
The committee was set up last year to investigate cost of living pressures and consider options to ease pressure on households.
Liberal senator Jane Hume chairs the committee, with Greens senator Penny Allman-Payne its deputy chair.
Fast-rising inflation has been crushing household budgets, lifting 7.8 per cent annually in the December quarter.
This is the highest annual consumer price index increase since 1990.
Inflationary pressures were initially isolated to goods due to supply chain disruptions and high energy costs.
But the price of services has also been trending upwards, lifting 5.5 per cent annually and accelerating on a quarterly basis according to official figures.
The central bank started hiking the cash rate last year to stymie demand and control inflation, subsequently putting pressure on mortgage holders.
© AAP 2023
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 71
The housing market fell another one per cent in January, with the major cities still leading the downturn.
CoreLogic's home value index shows ongoing resilience in regional areas despite fewer people moving out of cities, and the massive pandemic upswing in the regions eroding much of the affordability advantage.
Home values in non-capital cities surged 41.6 per cent during the pandemic advance compared to a 25.5 per cent lift across capital cities.
But since the June peak, combined regions have softened just 7.4 per cent while combined capital city values sunk 9.6 per cent from their April high point.
Research director at the property data firm, Tim Lawless, said regional markets could be experiencing a structural shift in housing demand.
"With more Australians willing to base themselves outside of the capital cities and remote working remaining a viable option across some sectors of the labour force, it's unlikely we'll see a mass exodus from regional markets," Mr Lawless said.
All capital cities recorded weakening dwelling values in January with Hobart and Brisbane falling the furthest, declining 1.7 per cent and 1.4 per cent respectively.
The national correction in home prices may be moderating, however, with the one per cent decline in January following a 1.1 per cent drop in December.
Mr Lawless said the quarterly trends indicated a slowing pace of decline across most regions.
"However at -1 per cent over the month and -3.2 per cent over the rolling quarter, national housing values are still falling quite rapidly compared to previous downturns."
January marked a new record for the size and pace of a downturn, with the national index down 8.6 per cent from its peak in April 2022.
The slowdown is still a long way from unwinding the 28.6 per cent gain over 19 months, although Melbourne is just 0.4 per cent shy of its pre-boom level.
© AAP 2023
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 78
The ATP will not take any action against former world No.2 Alexander Zverev following allegations of domestic abuse against the German, the men's tennis governing body said on Tuesday.
In October 2021, the ATP had launched an investigation into allegations levelled by his ex-girlfriend Olga Sharypova, who said in a magazine interview Zverev was emotionally and physically abusive to her during their relationship.
Zverev has consistently denied the allegations.
The ATP said the investigation's primary focus was related to alleged abuses taking place at the Masters event in Shanghai in 2019 but its scope also included alleged misconduct in Monaco, New York and Geneva based on reports.
"A major independent investigation into Alexander Zverev has found insufficient evidence to substantiate published allegations of abuse. As a result, no disciplinary action will be taken by ATP," it said in a statement.
"The investigation was carried out by The Lake Forest Group (LFG), a third-party investigator.
"LFG conducted extensive interviews with both Sharypova and Zverev, and 24 other individuals including family and friends, tennis players, and other parties involved with the ATP Tour."
After the 15-month investigation, which involved going through material on Zverev's electronic devices, the ATP said they were unable to substantiate allegations of abuse or determine that any player offences took place.
"This determination may however be re-evaluated should new evidence come to light, or should any legal proceedings reveal violations of ATP rules," it added.
"Zverev has consistently denied all allegations and supported ATP's investigation."
© RAW 2023
- Details
- Written by Grant Broadcasters
- Category: Received
- Hits: 83
Workers being able to access their full pay rate while on domestic and family violence leave is being touted as a game-changer.
The new laws come into effect on Wednesday and give full-time, part-time and casual workers up to 10 days of paid leave.
The new arrangements will cover at least seven million workers, expanding the five days of unpaid domestic violence leave they're currently entitled to.
Tess Oxley, a paramedic in southwest Sydney, said the leave applying to millions of workers meant she no longer has to ask women what their entitlements are when they're at one of their lowest moments.
"When I go to women, I go to them at one of the most frightening, disempowering moments of their life," she said.
"Now I can start to give back the power to them. I can let them know that every single woman can make the decision to get help, to get help for their children."
Prime Minister Anthony Albanese said it was remarkable that people suffering domestic violence had to choose between financial security and physical safety.
"This is a day, frankly, which we wish we didn't have to have, but we do," Mr Albanese told a meeting of union workers and advocates on Tuesday.
"Let us hope that in putting in place this measure it's used less and less in the future."
The prime minister said tackling domestic violence required bringing the topic out into the open and breaking the cycle.
"It's about changing behaviours."
Workplace Relations Minister Tony Burke said the measures needed to include casuals and loading rates to ensure the safety of workers.
"Normally we don't give leave entitlements to casuals, but if you don't on this, then a whole portion of the workforce is going to have to choose between their safety and their pay," he said.
Minister for Women Katy Gallagher said the reforms were fundamental in reducing violence against women.
"Many people in this country don't realise how difficult the lives of women are. We bear the brunt of the violence," she said.
"It is the beginning of turning that back and saying to victim-survivors, 'you deserve your pay when you're making these big choices'."
Small businesses have been given a grace period until August 1 to enact the changes.
The leave will not appear on the workers' payslip for privacy reasons.
One woman in Australia dies at the hands of a former or current partner every 10 days, and police deal with an average of 5000 domestic violence incidents each week.
It's estimated one in five women have taken time off due to violence from a previous partner, and one in 11 due to a current one.
Opposition employment spokeswoman Michaelia Cash said it was an important step, coming in the wake of the coalition's 2018 laws to enshrine five days of unpaid leave in national employment standards.
But she noted the Labor laws went further than what was recommended by the Fair Work Commission and it was appropriate they be reviewed after 12 months.
1800 RESPECT (1800 737 732)
Lifeline 13 11 14
beyondblue 1300 22 4636
© AAP 2023
Page 420 of 1496