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Australian Federal Budget projected to hit $4 billion surplus

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This would be the first surplus in 15 years

 
Almost $15 billion in cost of living relief for Australians will form tonight’s federal budget.

Australia’s federal budget is projected to record a $4 billion surplus this financial year.

This would be the first surplus in 15 years.

The Albanese Government says they “have seen the Budget improve by more than $143 billion over four years to 2025-26.”

Pensioners, people on other income support payments, and small businesses will have their energy bills subsidised by up to $500, part of billions for cost of living relief.

The budget will include a $737 million package to crack down on vaping and reduce smoking.

The government says it will cost about $19 billion over an initial four-year period to start implementing defence changes.

That includes $9 billion for the AUKUS nuclear-powered submarine project and $4.1 billion for missiles and manufacturing.

The federal government says it wants to make Australia a “renewable energy superpower” and late last week it announced a plan to establish a “Net Zero Authority”.

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President Biden and President-elect Trump hold key meeting

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President-elect Donald Trump has chosen Pete Hegseth as his pick for Secretary of Defense.

The combat veteran has two bronze stars having served in Iraq and Afghanistan.

He is a graduate of Princeton University and Harvard University.

In addition providing support to veterans he has held a recent role as a political commentator.

The Defense Department is the largest and oldest U.S. government agency, with a budget of about $850 billion.

Ricoh Danielson a U.S. Army Vet and National Security advisor joins Veronica Dudo to discuss.

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John Thune elected new Senate GOP Leader

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In a closed-door vote, Senator Thune takes on a pivotal leadership role as Senate Republicans look to the future.

In a significant shift within Senate Republican leadership, Senator John Thune of South Dakota has been elected as the new Senate GOP leader, taking over from long-time leader Senator Mitch McConnell.

The decision came after a secret ballot vote among GOP members, marking the end of McConnell’s influential tenure.

Thune, who has served as Senate Minority Whip, is widely recognized for his strategic acumen and steady approach to party leadership.

His appointment signals both continuity and potential change as Senate Republicans prepare to navigate a challenging legislative environment and upcoming elections.

With McConnell stepping back, questions arise about how Thune’s leadership will shape GOP strategies on key issues, from fiscal policy to judicial appointments.

Analysts note that his leadership style is expected to maintain unity while possibly adopting fresh tactics to strengthen the party’s legislative influence.

As Thune steps into this prominent role, Republicans and observers alike will watch how his leadership influences the Senate’s dynamics and the broader political landscape.

The transition reflects a pivotal moment for the GOP as it positions itself for future electoral and legislative battles.

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News sites testing AI for article summaries

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The Wall Street Journal is experimenting with AI to summarise its articles.

 

Readers will see a “Key Points” box at the top of select stories, featuring AI-generated summaries that are checked by editors. This new feature is being tested to assess reader engagement, offering bullet points that highlight key information.

The box includes a note explaining the use of AI, as WSJ explores new ways to add value for subscribers. Other news outlets, like USA Today, are also testing similar AI tools, though some caution readers to consult full articles due to potential AI errors.

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