Politics
Political news that affects economic policies and markets.
Superannuation fund Cbus has declined to comment on a report that Chair Wayne Swan has rejected a request to appear before an Australian Senate inquiry to respond to criticism about long delays in making insurance payments to vulnerable people. The Australian newspaper reported that Swan, a former Australian Treasurer and Labor politician, turned down the invitation from the Senate Economics References Committee for him to appear with Cbus Risk Committee Chair John Edwards. By 10am (AEDT) Azzet had received no response from Cbus to formal requests for comment on the report. In a letter to Committee chair Senator Andrew Bragg, the newspaper quoted Swan as saying had nothing to add to the evidence provided to the committee by Cbus Chief Executive Kristian Fok and the matters were the subject of legal action. “Given that, John (Edwards) and I would not be in a position to add anything further to the areas of particular interest to the committee at this time,” Swan wrote. The Senate Standing Committee on Economics’ Economics References Committee is inquiring into improving consumer experiences, choice, and outcomes in Australia’s $3.9 trillion superannuation (pension) system. Cbus (Construction and Building Unio
The Australian Government has withdrawn its anti-disinformation bill due to Senate opposition. The bill would have allowed the Australian Communications and Media Authority to enforce a code of conduct on online platforms, and fine these platforms up to 5% of their global revenue if they fell short. “Based on public statements and engagements with senators, it is clear that there is no pathway to legislate this proposal through the Senate,” said Communications Minister Michelle Rowland on Sunday. “The Government invites all Parliamentarians to work with us on other proposals to strengthen democratic institutions and keep Australians safe online, while safeguarding values like freedom of expression,” Rowland said. “It is incumbent on democracies to grapple with these challenges in a way that puts the interests of citizens first.” The legislation was opposed by the Coalition, the Greens, and several Independent senators. The bill had already been re-drafted to win greater support. The Australian Human Rights Commission said last month that “although there have been improvements to the bill, freedom of expression is not sufficiently protected”. Greens Senator Sarah Hanson-Young said yesterday that the bill “was
United States President-elect Donald Trump has nominated a replacement for controversial Republican congressman Matt Gaetz after he withdraw his nomination as Attorney General. Trump announced he planned to nominate former Florida Attorney General Pam Bondi as Attorney General. He said Bondi was tough on violent criminals as a prosecutor for nearly 20 years and, as Florida’s first female Attorney General, she worked to stop the trafficking of deadly drugs and reduce the tragedy of fentanyl overdose deaths. “For too long, the partisan Department of Justice has been weaponised against me and other Republicans - not anymore. Pam will refocus the DOJ to its intended purpose of fighting crime, and making America safe again," Trump wrote in a post on his Truth Social site. Earlier Gaetz wrote on social media site X that it was clear his confirmation was distracting the work of Trump and Vice-Presidential choice J.D. Vance‘s transition team. “I had excellent meetings with Senators yesterday,” Mr Gaetz wrote in the post on X, the social media site owned by another of Trump’s proposed cabinet members, Elon Musk. “I appreciate their thoughtful feedback — and the incredible support of so many. While the momentum was str
United States President-elect Donald Trump has lost a member of his proposed administration with controversial Republican congressman Matt Gaetz withdrawing his nomination as Attorney General. Gaetz wrote on social media site X that it was clear his confirmation was distracting the work of Trump and Vice-Presidential choice J.D. Vance‘s transition team. “I had excellent meetings with Senators yesterday,” Mr Gaetz wrote in the post on X, the social media site owned by another of Trump’s proposed cabinet members, Elon Musk. “I appreciate their thoughtful feedback — and the incredible support of so many. While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition. “There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney-General. Trump’s DOJ (Department of Justice) must be in place and ready on Day 1. “I remain fully committed to see that Donald J. Trump is the most successful President in history. I will forever be honoured that President Trump nominated me to lead the Department of Justice and I’m certain he will Save America.” G
The businessmen tasked by President-elect Donald Trump to reduce the size of the United States Government have flagged “mass headcount reductions” and US$500 billion of annual savings. The world’s richest person Elon Musk and entrepreneur Vivek Ramaswamy said they would advise the newly formed department that they had been asked to lead, the Department of Government Efficiency (DOGE), to cut the Government down to size. They would advise DOGE to pursue three major kinds of reform: regulatory rescissions, administrative reductions and cost savings, and assist the transition team to hire a team of small-government crusaders. Writing in the Wall Street Journal, Musk and Ramaswamy said two Supreme Court rulings suggested a plethora of current federal regulations exceeded the authority Congress had granted under the law. Most legal edicts were not laws enacted by Congress but tens of thousands of “rules and regulations” promulgated each year by unelected bureaucrats. “A drastic reduction in federal regulations provides sound industrial logic for mass head-count reductions across the federal bureaucracy,” they wrote. DOGE intended to work with appointees in agencies to identify the minimum number of employees r
