Donald Trump has been named Time magazine’s Person of the Year for 2024.

This designation follows Trump’s win in the US presidential election and his survival of an assassination attempt, as well as his conviction on 34 counts of falsifying business records.

He is set to be sworn in as the 47th president of the United States on January 20, 2025.

Time’s editor-in-chief, Sam Jacobs, noted that selecting Trump was straightforward, given his significant impact over the past year.

Donald Trump is TIME’s Person of the Year https://t.co/IjP5W2otV5 pic.twitter.com/CVHX9o0DB3

— TIME (@TIME) December 12, 2024

Trump expressed gratitude for the honor during a Wall Street event, marking his second selection as Person of the Year, the first being in 2016.

Throughout 2024, Trump experienced notable events, such as the attempted assassination at a Pennsylvania rally, which garnered global media attention.

Additionally, his conviction in May made him the first American president to be labeled a convicted felon, although he has yet to be sentenced.

Upcoming term

After a successful campaign, Trump celebrated his presidential election victory in November, promising to enhance the country during his upcoming term.

With this latest recognition, Trump, who has been featured on Time covers numerous times since his first in 1989, reaffirms his relationship with the publication despite past controversies, including displaying fake covers at his golf clubs.

Trump remains a prominent figure in American politics with his upcoming return to the Oval Office.

The Coalition claims its nuclear power plan will save $263 billion compared to Labor’s renewable energy strategy by 2050, resulting in lower electricity costs.

Economic modelling conducted by Frontier Economics estimates the Coalition’s plan, which aims for net zero emissions by 2050, will cost $331 billion.

In contrast, Labor’s renewable energy plan is projected to cost $594 billion according to the modelling.

Opposition Leader Peter Dutton plans to share these findings, stating that the analysis supports their position that Australians will benefit from the Coalition’s approach.

Dutton claims that fewer hidden costs and reduced infrastructure expenses will lead to lower energy prices.

He noted that many advanced economies are increasing their nuclear capabilities and urged Australia to do the same.

Seven plants

The Coalition’s model includes seven nuclear power plants, with renewable energy still providing 54% of the National Electricity Market by 2050 and nuclear contributing 38%.

Labor’s strategy anticipates that 94% of power generation will come from renewable energy by the same year, with 90% of coal-fired power exiting the system by 2034.

However, coal may need to operate longer in the Coalition’s scenario until nuclear power is online.

The Coalition’s plan also suggests a reduced reliance on gas due to a lower number of renewables needing stabilisation.

Dutton committed to constructing and operating seven nuclear plants, with the first expected to be operational as early as 2036.

TikTok’s parent company ByteDance will join Meta and Alphabet in paying new levies for Australian news unless they reach agreements with publishers.

Apple and Microsoft may also be affected if their revenues in Australia exceed $250 million annually.

Labor’s policy seeks to compel Meta to negotiate after it previously refused to pay for news.

Under the proposed legislation, the Australian Taxation Office will impose an annual levy on social media and search companies, exceeding the current news media bargaining code’s value of about $200 million annually.

Companies that negotiate payments to news publishers can offset these payments against their levy.

For example, if a platform faces an $11 million levy with a 10% uplift, it must secure at least $10 million in deals to avoid paying the ATO.

News Distribution

Any shortfall between deals and the annual charge will be collected by the ATO and distributed to publishers.

Final policy details will emerge after consultations early next year.

The law takes effect on January 1, emphasizing quick negotiations with tech companies.

Assistant Treasurer Stephen Jones clarified that the policy aims to facilitate negotiations, not increase government revenue, stating that digital platforms benefit financially from Australia and should support quality journalism.

Labor’s decision follows Meta’s refusal to renegotiate under the existing bargaining code, which could lead to significant job losses in journalism.

The Labor-controlled committee has deemed the current code “broken” and called for an alternative.