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Consumer confidence has ticked up for the third week in a row but cost of living pressures mean sentiment is still below historical averages.
The 1.8 per cent uplift in overall confidence as sampled by ANZ and Roy Morgan was led by a spike in the measurement of financial health, with "current financial conditions" lifting nine per cent and partially recovering the 12.3 per cent loss across eight weeks.
The "future financial conditions" sub-index lifted by 2.8 per cent.
The "time to buy a major household item" metric fell two per cent, which followed a 9.2 per cent gain the week before.
ANZ head of economics David Plank said confidence was at its highest level since October but was still at exceptionally weak levels based on long-run averages.
Mr Plank said low consumer confidence was yet to translate into a slowdown in spending, although the surprising contraction in October retail sales reported on Monday could signal consumers were starting to tighten their belts.
The recent Black Friday sales may explain this softening in retail trade, with consumers possibly holding fire on purchases in October to take advantage of discounts in November.
The disconnect between consumer confidence and spending habits remains hard to decipher, with many expecting the fall in real wages to translate into a spending slowdown.
But Mr Plank said wages only tend to account for around 40 per cent of total household incomes.
The Australian Bureau of Statistics' wage price index does not capture work bonuses, government support payments, rents from investment properties and other sources of income, he added.
As well as non-wage sources of income, massive household savings accumulated throughout the pandemic are also likely supporting household spending.
But falling house prices are likely to weigh on consumer spending due to the "wealth effect", with declining asset values linked to lower consumption.
The latest ANZ predictions see house prices falling by 18 per cent from their peak by the end of 2023 before recovering by five per cent in 2024.
Reduced borrowing capacity is largely responsible for the decline as opposed to forced sales, ANZ's Felicity Emmett and Adelaide Timbrell said, with rising interest rates reducing the amount buyers can borrow.
"A sharp lift in forced sales is unlikely in our view, given very large savings buffers," Ms Emmett and Ms Timbrell said.
An expected boost to migration and the tight rental market is expected to cushion the housing price downfall.
Meanwhile, savings are the preferred means for funding the festive season, according to Finder data.
More than half of the 1054 people surveyed will reach into their savings to fund Christmas.
But 13 per cent of Australians will reach for a credit card to pay for gifts and other holiday spending, with another nine per cent planning to leverage buy now, pay later credit.
Another 20 per cent don't expect to spend anything extra during the period.
Despite many Australians expecting to fund their holiday plans with debt, the average Australian credit score is still in the healthy range.
Credit scores rank a person's creditworthiness and risk level when it comes to borrowing, with a higher score indicative of higher creditworthiness.
Equifax's credit scorecard shows the average Australian sitting at 846 out of a possible 1200, which is considered within the "very good" range.
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Cancelled flights and long queues are set to frustrate passengers heading to into Christmas season as aviation firefighters go on strike over safety concerns.
Firefighters will walk off the job between 6am and 10am on December 9, at 27 airports where aviation rescue firefighting services are stationed.
Domestic and international flights will be disrupted as the country heads into the peak holiday period, with all travel restrictions relaxed in recent months.
United Firefighters Union Aviation Branch Secretary Wes Garrett said the stop work action comes after 100 staff were cut last year from government-owned Airservices Australia, the body responsible for keeping safe 11 per cent of the world's airspace.
He said airports will effectively shut down for these hours but noted some airlines could still operate.
"Air travellers don't have the protection they need because Airservices cut 100 aviation firefighters from Australia's airports to cut costs in October 2021," Mr Garrett said on Tuesday.
Every month more than 600 flights operate from Australia's airports without the aviation firefighting protection required under international aviation safety regulation, he said.
"Protecting the safety of Australia's air travellers is the number one priority of every aviation firefighter. That's why we are undertaking such significant industrial action."
He estimated that on average 2500 passengers in Australia are not properly covered under international aviation standards.
"We understand that this will be extremely disruptive for Australia's air travellers and aviation firefighters sincerely apologise for the inconvenience," he said.
"We are sympathetic... but public safety is paramount for us. We will stand up for aviation safety in this country," Mr Garrett told reporters.
He noted this was the first time the aviation branch of the union had undertaken a work stoppage in its history.
Mr Garrett called on the federal government to help resolve the staffing shortage of 100 employees demanding that a clause in their contracts be included to ensure there is enough staff.
AAP has sought comment from Airservices Australia.
Trevor Rodgers, a recently retired aviation fire commander with 38 years of experience under his belt, said that any shortage of aviation firefighters at an incident could have catastrophic consequences for passengers of a burning aircraft.
"Aviation firefighters have just three minutes to reach a burning aircraft and make an intervention to save the passengers," he said.
After the three-minute window, a fire can quickly spread through the cabin and the chances of people surviving an internal fire are diminished.
"If we do not have the aviation firefighters and the appliances available at the time of the incident, large numbers of people will die. It's just that simple".
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Prime Minister Anthony Albanese has reiterated support for an Indigenous voice to parliament, saying it would deliver practical outcomes.
His remarks follow the Nationals indicating the party would not support the voice proposal when it goes to a referendum, slated to be held in 2023/24.
Nationals leader David Littleproud said the party would stand against the voice, saying it would not deliver practical outcomes to close the gap.
However, Mr Albanese said the voice would be more than just symbolism.
"Our experience shows that when people who are directly affected are consulted and have a sense of ownership over the solution, they will be more engaged," he told an Indigenous basketball event in Canberra on Tuesday.
"So the solutions could close the gap on education, on health, on housing, on life expectancy, incarceration rates, on all of those measures where there is a gap between Indigenous and non-Indigenous Australians."
Indigenous coalition senator Jacinta Nampijinpa Price said it wasn't a difficult decision for the Nationals to reach a "no" position on the voice.
"Basically taking an idea to a referendum with no detail and then allowing for the parliamentary process to fill in the detail, I don't think is a safe enough option," she told 2GB.
Senator Price doubled down on her comments about Indigenous Australians Minister Linda Burney being out of touch with remote and disadvantaged First Nations communities, saying she didn't have that understanding, having lived in NSW.
Mr Albanese told a government party room briefing on Tuesday he stood by Ms Burney following opposition attacks, which were described by another MP as "repulsive and absurd".
"When people go that personal, it shows they do not have an argument of substance," he said.
Mr Albanese said regional consultation was a cornerstone of the process to implement the voice to parliament.
Opposition Leader Peter Dutton told a joint coalition party room meeting the Liberals respected the decision taken by the Nationals, but the Liberals were yet to come to an agreement on their stance.
"There will be a discussion in the Liberal party room and coalition party room in due course, but we're not there yet," he told MPs.
"Right now, the pressure needs to be on the prime minister to answer the most basic questions about the Indigenous voice to parliament ... we want more information, just like the rest of the country, before we can form a position."
Indigenous activist Noel Pearson said he was surprised the Nationals would stand against the voice.
"I've spoken to almost every Nationals senator and MP over recent years, and of all the political parties, the Nationals were the most supportive of the idea of the voice," he told ABC Radio.
"This leader, supposed leader Littleproud ... he's like a kindergarten kid, not a leader. The Nationals have hoisted the mantle of leadership on a boy who's incapable of leadership that's necessary for the country."
Mr Pearson said it would be madness for the Liberals not to support the voice, taking aim at criticism the voice would only impact on Indigenous people in inner-city areas, not remote communities.
"We've gone through a long history of this over a dozen years, and we've landed with the simple idea of a voice, the simple proposition that Aboriginal people should be able to tell the parliament their views on any laws that affect them," he said.
The government has been calling for a referendum during this term of parliament to set up an Indigenous voice - one of the recommendations from the Uluru Statement from the Heart.
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Attorney-General Mark Dreyfus believes a referendum to enshrine an Indigenous voice to parliament will still be successful, despite the Nationals opposing the plan.
Nationals leader David Littleproud said on Monday the party would be against the voice, arguing it would not improve outcomes for Indigenous people.
"We've been down this road before," he told Nine's Today program on Tuesday.
"What we fear is this will be a voice for Redfern but not for Wilcannia, not for Alice Springs and not for Carnarvon."
While Mr Dreyfus said it was disappointing to hear the opposition from the Nationals, he still thought the referendum would succeed.
"Just because they've now made this announcement does not deal anything like a deathblow to this referendum," he told ABC Radio on Tuesday.
"It's very disappointing to hear one of the major parties in Australia deciding before the campaign has even started that they're going to oppose this really important measure."
The referendum is due to take place during the 2023/24 financial year, although a date has not been set.
Indigenous coalition senator Jacinta Nampijinpa Price said it wasn't a difficult decision for the Nationals to reach a "no" position on the voice.
"Basically taking an idea to a referendum with no detail and then allowing for the parliamentary process to fill in the detail, I don't think is a safe enough option," she told 2GB.
Senator Price doubled down on her comments about Indigenous Australians Minister Linda Burney being out of touch with remote and disadvantaged First Nations communities, saying she didn't have that understanding, having lived in NSW.
Indigenous activist Noel Pearson said he was surprised the Nationals would stand against the voice.
"I've spoken to almost every Nationals senators and MPs over recent yeas, and of all the political parties, the Nationals were the most supportive of the idea of the voice," he told ABC Radio.
"This leader, supposed leader Littleproud... he's like a kindergarten kid, not a leader. The Nationals have hoisted the mantle of leadership on a boy who's incapable of leadership that's necessary for the country."
While the Liberal Party has yet to indicate its formal position on the issue, Opposition Leader Peter Dutton has indicated his stance would be driven by the partyroom's view.
Mr Pearson said it would be madness for the Liberals not to support the voice, taking aim at criticism the voice would only impact on Indigenous people in inner city areas and not remote communities.
"We've gone through a long history of this over a dozen years, and we've landed with the simple idea of a voice, the simple proposition that Aboriginal people should be able to tell the parliament their views on any laws that affect them," he said.
Mr Dreyfus said an education campaign will start next year on what would be needed to change the constitution, with the last referendum being held more than 20 years ago.
"If you're under 40, you've never voted in a referendum, we've got a lot of educating to do about what we need to change our constitution and how we change our constitution," he said.
"This is a step that takes Australia forward for everyone. And sadly, there are some in our country who oppose the voice, it seems, and they're holding this country back."
The government has been calling for a referendum during this term of parliament to set up an Indigenous voice - one of the recommendations from the Uluru Statement from the Heart.
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