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| Malcolm Turnbull defends Snowy 2.0 after report savages project – politics live | |
| (32 minutes later) | |
| David Speers was farewelled by his Sky News colleagues overnight. Speersy has been an institution of the press gallery for the past two decades. He is moving to Melbourne to take up the Insiders reins, which he’ll pick up officially early next year. | |
| While there were lots of lovely moments, the loveliest was probably when Speers paid tribute to his colleagues, particularly his longterm camera operator, Geoff Crane. | |
| The relationship between journalists and photographers and camera operators is more like a marriage. You spend more time with them in these sorts of jobs than your own partner most of the year. You see each other at your best and worse. You don’t have to think because they do it for you. You turn around, and they are already there, capturing what your words can’t. Journalists most definitely get the better side of the deal - we could not do our jobs without the visual artists who help hold us up. But they would be just fine without us. I couldn’t do this blog without Mike Bowers (please don’t tell him that, it’ll upset our entire dynamic) and for many journalists, broadcast ones in particular, the cameramen and women we work with are absolute heroes. So it was lovely to see that relationship celebrated by two of the best last night. | |
| The drought response continues to be a bone of contention. | |
| Joel Fitzgibbon has put out this statement: | |
| In response to my question in Parliament yesterday, the Prime Minister said: | |
| “The Future Drought Fund is not to provide direct financial assistance payments to farmers. It’s there to provide direct support for water resilience projects to plan for the future.” | |
| His admission exposes his claim that he’s spending $7 billion assisting drought-affected farming families. He is spending nothing like that and he should come clean.” | |
| Expect more on that today, as well | |
| Marise Payne has welcomed the release of Jock Palfreeman from a Bulgarian detention centre, but remains “concerned, however, that Mr Palfreeman continues to be denied the right to return to Australia, having being granted parole in September”. | |
| Palfreeman, who was given permission to return to Australia by a court, has had his passport confiscated. Payne has officially called on the Bulgarian government to afford Palfreeman “due process, consistent with Bulgarian law”. | |
| You might remember this tweet from the minister in assistance to the president of Marshall Islands, David Paul, in response to Michael McCormack’s comments about criticism from our Pacific neighbours over Australia’s response to climate change. | |
| As deputy leader of one country to another let me say this: the Pacific’s survival - and the Australian fruit industry - requires leadership on the greatest threat to our region and to the world. Unfortunately, $500m does not go very far when you are at risk of losing everything. https://t.co/55Vvft5gou | |
| Well, it turns out the government is now sending students to the Marshall Islands to study – wait for it – “the impact of climate change on local communities”. | |
| I kid you not. | |
| Marise Payne and Dan Tehan announced the New Colombo Plan’s 2020 Mobility Program yesterday where “11,196 undergraduates from 40 Australian universities to complete short-term study and work-based experiences in 36 locations across the Indo-Pacific”. | |
| From their release on the cross-cultural education program: | |
| We have increased awards for Australian undergraduates to engage with Pacific nations by 15 per cent over the previous round. Fiji, Vanuatu, Solomon Islands and Papua New Guinea are the most popular Pacific destinations, with the Republic of the Marshall Islands to host New Colombo Plan Mobility Program students for the first time in 2020. Over the next three years, 75 undergraduates will study the impact of climate change on local communities in the Marshall Islands and develop projects to support sustainability and resilience. | |
| Cool beans. | |
| You can read more of Malcolm Turnbull’s response to the Snowy 2.0 criticism on his Twitter feed. | |
| You can argue the toss over whether or not he is right – again, he was invested in this project, and so he is not exactly impartial on this. But it would have been nice to see more of this Turnbull – defending what he believes in and calling out vested interests – as prime minister. | |
| It was probably the project Malcolm Turnbull was most excited about when he was prime minister. Properly authentically excited. | It was probably the project Malcolm Turnbull was most excited about when he was prime minister. Properly authentically excited. |
| So it is no surprise that Turnbull would come to the defence of Snowy 2.0 in the face of reports of cost blowouts and questions about its use. | |
| Turnbull went on a bit of a tweet storm overnight. Here’s a taste. | |
| Snowy Hydro 2.0 is the key to making renewables reliable. It is opposed by vested interests in the energy sector who know it will reduce volatility and deliver zero emissions and more affordable electricity. | Snowy Hydro 2.0 is the key to making renewables reliable. It is opposed by vested interests in the energy sector who know it will reduce volatility and deliver zero emissions and more affordable electricity. |
| The decision to proceed with Snowy 2.0 has been based on extensive economic and engineering analysis including the feasibility study published in December 2017. The contracted costs, as Paul Broad has said, are consistent with that study. | The decision to proceed with Snowy 2.0 has been based on extensive economic and engineering analysis including the feasibility study published in December 2017. The contracted costs, as Paul Broad has said, are consistent with that study. |
| The claim that the scheme is in the wrong place is ludicrous. Snowy Hydro sits between the two biggest centres of demand in NSW and Victoria. Of course transmission will have to be upgraded, as it will be right around the country as we move from high emission.... | The claim that the scheme is in the wrong place is ludicrous. Snowy Hydro sits between the two biggest centres of demand in NSW and Victoria. Of course transmission will have to be upgraded, as it will be right around the country as we move from high emission.... |
| So if the Government does not build Snowy 2.0 it would not get built. In summary - the opponents of Snowy 2.0 are, wittingly or not, doing the work of vested interests in the energy sector who profit from the existing volatility and high prices. | So if the Government does not build Snowy 2.0 it would not get built. In summary - the opponents of Snowy 2.0 are, wittingly or not, doing the work of vested interests in the energy sector who profit from the existing volatility and high prices. |
| You don’t have to have the government talking points to know the lines on the IMF report have most definitely been released. | You don’t have to have the government talking points to know the lines on the IMF report have most definitely been released. |
| This was Paul Fletcher on ABC this morning: | This was Paul Fletcher on ABC this morning: |
| Let’s be clear. We have a sound economy, AAA credit rating, we have been growing, 29th year in a row, of growth, growing faster than every G7 country except the US and we have a clear plan to maintain our economic position. | Let’s be clear. We have a sound economy, AAA credit rating, we have been growing, 29th year in a row, of growth, growing faster than every G7 country except the US and we have a clear plan to maintain our economic position. |
| We have got the lowest rate of welfare dependency. Getting the budget back to in balance this year and then getting it back to surplus is the plan. | We have got the lowest rate of welfare dependency. Getting the budget back to in balance this year and then getting it back to surplus is the plan. |
| We won’t be spooked by international conditions. We’ll stick to our plan. | We won’t be spooked by international conditions. We’ll stick to our plan. |
| Question: I’ll ask the question again, it’s not great though, a figure of 1.7% from the body like the IMF? | Question: I’ll ask the question again, it’s not great though, a figure of 1.7% from the body like the IMF? |
| PF: | PF: |
| Let us be clear, our economy is growing, it’s been growing for 29 years. | Let us be clear, our economy is growing, it’s been growing for 29 years. |
| Question: But not fast enough? | Question: But not fast enough? |
| PF: | PF: |
| [Last year] A range of countries, Singapore, Germany and the UK were in negative growth. We are in positive growth, we have been growing for 29 years. We have a clear plan to maintain the economic position, including $100bn of infrastructure, personal tax cuts and reducing welfare dependency. We want to maintain that. | |
| Let’s be clear – nothing says “this is a practised line” like putting “let’s be clear”, “the reality is” or “the fact of the matter is” at the beginning of said practised line. | |
| Well, Jim Chalmers woke up with an extra spring in his step today, with the news Australia’s economic growth rate has been downgraded by the IMF, from 2.1% to 1.7%. | Well, Jim Chalmers woke up with an extra spring in his step today, with the news Australia’s economic growth rate has been downgraded by the IMF, from 2.1% to 1.7%. |
| Those economic headwinds Scott Morrison and Josh Frydenberg have been referring to are on their way. The IMF, like the RBA, want governments to stimulate their economies. Slashing interest rates is not enough. With a decade of low growth forecast across the globe, monetary bodies want to see spending. | Those economic headwinds Scott Morrison and Josh Frydenberg have been referring to are on their way. The IMF, like the RBA, want governments to stimulate their economies. Slashing interest rates is not enough. With a decade of low growth forecast across the globe, monetary bodies want to see spending. |
| In a statement sent out very early this morning, Chalmers said: | In a statement sent out very early this morning, Chalmers said: |
| The IMF has called on countries, including Australia, to provide fiscal stimulus and invest in infrastructure to support their economy and improve productivity. | The IMF has called on countries, including Australia, to provide fiscal stimulus and invest in infrastructure to support their economy and improve productivity. |
| According to the IMF, “Monetary policy cannot be the only game in town and should be coupled with fiscal support where fiscal space is available.” | According to the IMF, “Monetary policy cannot be the only game in town and should be coupled with fiscal support where fiscal space is available.” |
| The IMF’s updated forecasts make a mockery of Josh Frydenberg’s claims that the Morrison Government has the right policy settings. | The IMF’s updated forecasts make a mockery of Josh Frydenberg’s claims that the Morrison Government has the right policy settings. |
| Collapsing confidence and weak growth are the inevitable consequence of a Liberal-National Government which has a political strategy but not an economic policy. | Collapsing confidence and weak growth are the inevitable consequence of a Liberal-National Government which has a political strategy but not an economic policy. |
| We saw signs most obviously last week, that the government is attempting to respond, without being explicit about it. Frydenberg’s meeting with the nation’s treasurers was all about bringing forward lower-tier infrastructure projects, which was essentially a stimulus program, without mentioning the word stimulus. That’s because the government is locked on to delivering its budget operating surplus next year. Which means, for the short term at least, it is steering clear of “stimulus” – because you shouldn’t have to stimulate a surplus economy. | We saw signs most obviously last week, that the government is attempting to respond, without being explicit about it. Frydenberg’s meeting with the nation’s treasurers was all about bringing forward lower-tier infrastructure projects, which was essentially a stimulus program, without mentioning the word stimulus. That’s because the government is locked on to delivering its budget operating surplus next year. Which means, for the short term at least, it is steering clear of “stimulus” – because you shouldn’t have to stimulate a surplus economy. |
| But the warnings are getting louder. So we are on watch and wait here. | But the warnings are getting louder. So we are on watch and wait here. |
| Mike Bowers is out and about – he was up early covering the press gallery versus politicians soccer match this morning, which was raising money for the Big Issue (a very good program, and I encourage you, if you can manage it, support your local Big Issue seller). I’ll bring you some of that, and all the other magic he captures throughout the day. | Mike Bowers is out and about – he was up early covering the press gallery versus politicians soccer match this morning, which was raising money for the Big Issue (a very good program, and I encourage you, if you can manage it, support your local Big Issue seller). I’ll bring you some of that, and all the other magic he captures throughout the day. |
| You’ll also have Katharine Murphy, Sarah Martin, Paul Karp and the rest of the Guardian Australia brains trust bringing you what happens in this building and beyond. | You’ll also have Katharine Murphy, Sarah Martin, Paul Karp and the rest of the Guardian Australia brains trust bringing you what happens in this building and beyond. |
| I haven’t had a second coffee, but I have had a ginger nut biscuit for breakfast (unfortunately not a Queensland one, which is obviously the best of all the ginger nuts) so I am as peppy as I can be under the circumstances. | I haven’t had a second coffee, but I have had a ginger nut biscuit for breakfast (unfortunately not a Queensland one, which is obviously the best of all the ginger nuts) so I am as peppy as I can be under the circumstances. |
| Ready? | Ready? |
| Let’s get into it. | Let’s get into it. |