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Australia to receive first Labor Budget in a decade

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Australia’s Prime Minister Anthony Albanese has promised to build a better future

In a matter of hours, the Australian Government will hand down a “responsible, family-friendly budget, that will help Australians with the cost of living,” according to Prime Minister Anthony Albanese.

Australia is facing nearly $1 trillion in debt and soaring inflation. But the Albanese Government insists they have made improvements “line by line”.

The Prime Minister says there will be “cheaper child care, cheaper medicines, extending paid parental leave and getting wages moving again.”

Dr Leonora Risse is a Senior Lecturer in Economics at RMIT University, who said these issues should be central to the budget.

“Paid parental leave and childcare affordability should be treated as core economic issues that affect the country’s overall productivity and prosperity, rather than just thinking about these policies as “women’s issues.” 

“We have to make bold moves to make it societally and professionally acceptable for men to put their hand up and take a larger share of parental caregiving,” she said.

The budget—the first for a Labor Government since 2013—is expected have more ‘cuts’ than ‘spend’. But analysts believe it provides an opportunity to address the nation’s post-pandemic future.

“Women also lost their jobs or lost hours of work together with any opportunities for career development,” said Emeritus Professor Sara Charlesworth at RMIT University.

“While many employers were supportive, different employers and managers varied considerably in the support they provided to women who were juggling day to day care responsibilities with the additional burdens of COVID.”  

PROFESSOR SARA CHARLESWORTH, RMIT UNIVERSITY

“The impact of the additional burdens taken on by many women during COVID will cast a long shadow on their mental health and the rising number of women seeking help post lockdown is hardly surprising,” Professor Charlesworth explained.

Mr Albanese and Treasurer Jim Chalmers will get a second bite of the apple in less than a year, when another budget is handed down in May 2023.

Dr Debajyoti Chakrabarty is a Lecturer in Finance and Economics at Charles Darwin University. He said a strong job market and resources sector will boost this year’s budget.

“However, there are also reports of expenditure blowouts in infrastructure, aged care and health.”

“The government has to be careful in its spending strategy and use it towards the targeted cost of living relief to vulnerable households and improving productivity,” Dr Chakrabarty said.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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How a ransomware attack would disrupt the food supply chain

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Massive financial gains continue to be one of the top motivating factors behind cyberattacks.

The Information Technology – Information Sharing and Analysis Center (IT-ISAC) has been tracking ransomware incidents and trends since 2021.

Despite government and law enforcement efforts to take down malicious infrastructure, new ransomware strains continue to emerge.

The company just released its analysis of the 2023 ransomware landscape report and insights for 2024.

Jonathan Braley, Director of the Food and Ag-ISAC joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #ransomware #ransomwareattacks #foodsupplychain

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Curious times for AI & investing as stark reality becomes clear

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Both private funding for startups and corporate mergers and acquisitions within the sector have decreased, reflecting a shift in investor sentiment.

While some AI ventures continue to attract significant investments, experts attribute the overall downturn to challenges in scaling AI technologies and a more cautious investment climate.

Generative AI stands out as a bright spot, experiencing exponential growth in funding despite lingering skepticism among corporate executives.

Amidst this market correction, some view the shift as necessary for a more sustainable investment landscape, predicting stable growth in the coming years.

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Game on with charitable cause and fresh titles of the week

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Xbox ANZ partners with Cure Cancer in an clever collaboration, introducing three exclusive Xbox Series X consoles inspired by the pioneering cancer research of Dr. Arutha Kulasinghe from The University of Queensland.

These unique designs, reflecting Dr. Kulasinghe’s innovative tumour mapping techniques, are currently available for auction, offering gamers an opportunity to contribute to a noble cause while acquiring a prized gaming collectible.

Meanwhile, Nintendo Switch Online unveils its latest additions, including the long-awaited Wrecking Crew 98, previously exclusive to Japan, now accessible to a global audience.

In the gaming sphere, this week brings diverse experiences, from the underwater exploration and sushi entrepreneurship of “Dave the Diver” to the enchanting narrative journey of “Harold Halibut” and the thrilling action RPG “No Rest for the Wicked” by Moon Studios, promising captivating adventures across PlayStation, Xbox, and PC platforms.

 

 

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