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“We are better placed to meet the economic challenge”: Australia’s Federal Budget

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The Australian treasurer has announced a big spending budget to help get the country back on track.

The government has announced more than $53 billion in new stimulus payments and funding for key services.

Here’s what you need to know

International borders are likely to remain shut for at least 12-months.

The Treasurer promised $8 billion in new tax cuts for low and middle income earners and more than $20bn in further tax breaks for small businesses.

Mr Frydenberg released an 81-page women’s budget statement, featuring $1.1bn for women’s safety, a $1.7bn investment in childcare and $350m for health and wellbeing measures.

The treasurer says the economy is recovering.

‘Australia’s economic engine is roaring back to life’

As a share of the economy, net debt is around half of that in the United Kingdom and United States and less than a third of that in Japan.

“We are better placed than nearly any other country to meet the economic challenges that lie ahead”

tHE TREASURER SAYS.

The Treasurer says that Consumer sentiment is at its highest in 11 years.

“Business conditions reached record highs. And more Australians are in work than ever before.”

The cost to the economy will be huge, the federal deficit is set to reach $161 billion in 2021

The good news is the deficit will be $53 billion lower than expected.

Debt is set to skyrocket again. Net debt to increase to $617 billion.

That’s 30 per cent of GDP this year, and will peak at above 40 per cent.

The treasurer painting a grim picture of Australia’s debt situation, but says it’s nothing compared to overseas countries.

Strong focus on digital economy

The government is focusing on the new economy as part of its recovery plan, announcing over a billion dollars for digital infrastructure.

The government announced a $117.8 million spend over the next four years into artificial intelligence, or AI.

Under the package, Australia’s first Artificial Intelligence Action Plan will be created, which will see the development of world-leading AI projects.

The government has been praised for its decision to invest in the digital economy.

Tony Makin from Griffith University says digital investment is “essential” for productivity growth.

Winners now… but losers later? The reaction.

Makin says the Federal Budget has “too much spending” and not enough attention on other critical areas of the economy

MAKIN’S RESPONSE TO THE FEDERAL BUDGET

Australia’s Sarah Hanson-Young says environment is the big loser in tonight’s budget.

https://twitter.com/sarahinthesen8/status/1392057373653495815

Similarly, Australian politician and former industrial lawyer who is the leader of the Australian Greens and federal MP for Melbourne has shared his response on twitter to the government stating the budget ‘invests in the people’.

Australia’s opposition leader, Anthony Albanese says the budget is “just more of the same from a tired old government”

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How Gen Alpha are positioned to shape the future of education

Future of education: how Generation Alpha and engaged parents are shaping schools amid challenges and rapid change

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Future of education: how Generation Alpha and engaged parents are shaping schools amid challenges and rapid change

In Short:
– Future education involves increased parental engagement and adapting to technological changes for younger generations.
– Barriers to involvement include time constraints and poor communication from schools, impacting family-school relationships.
What does the future of education look like for parents and students?
On this episode of Beyond Education, Enquiry Tracker founder Greg Campitelli explores the evolving landscape of schooling with insights from Mark McCrindle, founder of McCrindle Research. McCrindle, a notable social analyst.
In the conversation, he noted significant shifts in education accessibility and the increasing need for parental involvement.
A recent study indicated that 83% of parents prioritise engagement in their children’s schooling, seeking to actively participate despite busy schedules. Parents are investing in education, valuing it highly while wanting to play a hands-on role.
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Trump orders Pentagon to resume nuclear testing immediately

Trump orders Pentagon to resume nuclear testing, raising concerns over arms race and global safety

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Trump orders Pentagon to resume nuclear testing, raising concerns over arms race and global safety

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In Short:
– Trump ordered the Pentagon to resume nuclear testing, risking global tensions and retaliation from other nations.
– Proliferation concerns are rising as nuclear states modernise arsenals and the New START Treaty nears expiration.
US President Donald Trump has ordered the Pentagon to resume nuclear weapons testing immediately, aiming to align with testing programs from other countries according to the conversation.Resuming explosive nuclear tests would likely trigger retaliatory responses from nuclear-armed nations like Russia and China, worsening the arms race and increasing global risks.

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The potential for worldwide radioactive fallout remains high, even for underground tests. The Comprehensive Nuclear Test Ban Treaty, signed by 187 states, prohibits such testing, yet the US remains a signatory without ratification, bound not to violate the treaty’s intent.

Nuclear weapon testing, once crucial for understanding weapon effects and military planning, has diminished. Since World War II, nuclear tests have largely focused on developing new designs. Significant environmental and health concerns led to a moratorium on atmospheric testing in the early 1960s and the Partial Test Ban Treaty in 1963.

Many countries, including the US, stopped explosive testing in the 1990s. Technological advancements allowed nations to develop nuclear weapons without the need for actual explosions.

Proliferation Risks

Nuclear proliferation continues, with all nine nuclear-armed states investing heavily in modernising their arsenals. This raises concerns about lowered thresholds for using such weapons.

Recent conflicts involving nuclear threats have escalated, and the number of nuclear weapons operationally available has begun to rise again. Russia has tested advanced nuclear weapons, while China is rapidly expanding its military capabilities.

The New START Treaty, which confines the nuclear capabilities of the US and Russia, is set to expire soon, with no successor treaty negotiations underway.

The Doomsday Clock has moved closer to midnight this year, highlighting the heightened dangers facing the world today.

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US–China trade talks are a handshake, not a deal

Trump and Xi unofficially extend tariff truce, with US concessions and Chinese commitments on soybeans, fentanyl, and rare earths.

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Trump and Xi unofficially extend tariff truce, with US concessions and Chinese commitments on soybeans, fentanyl, and rare earths.


Presidents Trump and Xi extend their tariff truce in an informal meeting, with US cuts and Chinese promises on soybeans, fentanyl, and rare earths.

Steve Gopalan from SkandaFX cautions this is unofficial and deeper issues between the two super powers remain.

#USChina #TradeTruce #Tariffs #GlobalMarkets #Soybeans #RareEarths #UnofficialDeal #TickerNews


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