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| Victoria posts record $23.3bn deficit; Queensland to open border on 1 December - follow live | Victoria posts record $23.3bn deficit; Queensland to open border on 1 December - follow live |
| (32 minutes later) | |
| Victoria records zero active cases for the first time since outbreak as SA plans to drop restrictions on 1 December – follow latest updates | Victoria records zero active cases for the first time since outbreak as SA plans to drop restrictions on 1 December – follow latest updates |
| Further to those comments from the RBA, my colleague Amy Remeikis has filed this story which you should check out. | |
| The Reserve Bank says the lower Australian dollar, helped by its decision to enter into a $100bn bond-buying program, is supporting jobs. | |
| The RBA deputy governor, Guy Debelle, says the impact of the exchange rate coming down boosts domestic demand and puts people in jobs, AAP reports. | |
| “The biggest way of effecting economic outcomes is whether people have jobs or not, which I think is sometimes lost in this discussion,” Debelle told a webinar conference on Tuesday, explaining the Reserve Bank’s monetary policy actions this year. | |
| The bond-buying program, known as quantitative easing or QE, was announced earlier this month and came alongside a cut in the cash rate and other key rates to a record low 0.1% from 0.25%. | |
| Between mid-September and the November central bank board meeting, speculation of a move to QE saw the exchange rate depreciate by about 5%. | |
| “We’ve seen the exchange rate come down by a noticeable amount and enough to have an impact on the economy and have an impact on employment and people’s livelihoods,” he told the Australian Business Economists conference. | |
| More broadly, Debelle says the central bank’s stimulus measures, complementing the significant packages introduced by governments, have boosted the cashflow of households and business. | |
| “The lower borrowing rates will encourage businesses and households to borrow, invest and spend when they are confident about their future prospects,” he said. | |
| Jane Hume, the superannuation minister, is responding to former prime minister Paul Keating’s claim that the government timed the Retirement Incomes Review to coincide with the Brereton report. | |
| Hume says: | |
| The Business Council of Australia is mostly pleased with the Victorian government’s budget. | |
| Though there is a note of caution on any “further burden on business, likely a reference to plans for a pilot to provide casuals and insecure workers with sick leave. | |
| Jennifer Westacott, the chief executive, says: | |
| Further to Andrew Hastie’s comments on the Brereton report, which we reported earlier, the WA Liberal MP has been on the ABC expanding on his call for greater parliamentary oversight of the military. | |
| He tells Andrew Probyn: | |
| Scott Morrison and the Indonesian president, Joko Widodo, swapped notes on Covid-19 situations in their two countries during a phone call this afternoon. | Scott Morrison and the Indonesian president, Joko Widodo, swapped notes on Covid-19 situations in their two countries during a phone call this afternoon. |
| A readout issued by Morrison’s office says the pair also discussed progress on vaccine trials and they “were encouraged by the more positive trajectory of their economies in the third quarter”. | A readout issued by Morrison’s office says the pair also discussed progress on vaccine trials and they “were encouraged by the more positive trajectory of their economies in the third quarter”. |
| Widodo – who is due to host Morrison at an annual leaders’ meeting next year – described the Indonesia-Australia relationship as important for regional stability and prosperity. The two countries would look to increase cooperation including in the south-west Pacific, according to Morrison’s readout. | Widodo – who is due to host Morrison at an annual leaders’ meeting next year – described the Indonesia-Australia relationship as important for regional stability and prosperity. The two countries would look to increase cooperation including in the south-west Pacific, according to Morrison’s readout. |
| The phone call follows a range of multilateral events over the past couple of weeks, including the East Asia Summit and Apec. | The phone call follows a range of multilateral events over the past couple of weeks, including the East Asia Summit and Apec. |
| Morrison’s office said the pair “agreed that these multilateral meetings had made useful contributions to regional security and prosperity” and they backed the newly finalised Regional Comprehensive Economic Partnership – which includes China – as important for the region’s economic recovery. | Morrison’s office said the pair “agreed that these multilateral meetings had made useful contributions to regional security and prosperity” and they backed the newly finalised Regional Comprehensive Economic Partnership – which includes China – as important for the region’s economic recovery. |
| They also reportedly said they looked forward to more countries joining the rebadged Trans-Pacific Partnership in future. | They also reportedly said they looked forward to more countries joining the rebadged Trans-Pacific Partnership in future. |
| The Victorian Liberal opposition has responded to the state budget. | The Victorian Liberal opposition has responded to the state budget. |
| The opposition leader, Michael O’Brien, said: | The opposition leader, Michael O’Brien, said: |
| The former special air service troop commander and federal Liberal MP Andrew Hastie is calling for greater parliamentary and media oversight of the Australian military. | The former special air service troop commander and federal Liberal MP Andrew Hastie is calling for greater parliamentary and media oversight of the Australian military. |
| Hastie has voiced personal grief and shame over alleged war crimes committed by Australian soldiers he served with in Afghanistan. | Hastie has voiced personal grief and shame over alleged war crimes committed by Australian soldiers he served with in Afghanistan. |
| The member for Canning in Western Australia wants greater media access to military operations overseas, reports AAP. | The member for Canning in Western Australia wants greater media access to military operations overseas, reports AAP. |
| Hastie, who chairs a parliamentary committee on intelligence and security, wants to create a committee with powers to compel defence chiefs and bureaucrats. | Hastie, who chairs a parliamentary committee on intelligence and security, wants to create a committee with powers to compel defence chiefs and bureaucrats. |
| The NSW opposition leader, Jodi McKay, says the premier’s explanation for failing to self-isolate after getting a Covid-19 test is unacceptable. | The NSW opposition leader, Jodi McKay, says the premier’s explanation for failing to self-isolate after getting a Covid-19 test is unacceptable. |
| She said Gladys Berejiklian must publicly clarify when she had the test and when she received her results. | She said Gladys Berejiklian must publicly clarify when she had the test and when she received her results. |
| Berejiklian was present for the treasurer’s budget speech at noon last Tuesday as well as question time from 2.15pm, and again when a division was called at 5.40pm, reports AAP. | Berejiklian was present for the treasurer’s budget speech at noon last Tuesday as well as question time from 2.15pm, and again when a division was called at 5.40pm, reports AAP. |
| McKay says: | McKay says: |
| The opposition’s health spokesman, Ryan Park, said earlier that it was clear the premier “had a scratchy throat, which we all know is a symptom of Covid-19”. | The opposition’s health spokesman, Ryan Park, said earlier that it was clear the premier “had a scratchy throat, which we all know is a symptom of Covid-19”. |
| McKay added: | McKay added: |
| While the Victorian government has received widespread praise for its pledge to build 12,000 social and affordable homes, there have been still some criticism from public housing advocates. | While the Victorian government has received widespread praise for its pledge to build 12,000 social and affordable homes, there have been still some criticism from public housing advocates. |
| A key concern is that the homes will be managed by community housing providers, rather than public housing. | A key concern is that the homes will be managed by community housing providers, rather than public housing. |
| In response to the budget, the Victorian Public Tenants Association says: | In response to the budget, the Victorian Public Tenants Association says: |
| The association noted that a regulatory review of community housing had been announced. | The association noted that a regulatory review of community housing had been announced. |
| The renowned political correspondent and columnist Alan Ramsey has died, aged 82. | The renowned political correspondent and columnist Alan Ramsey has died, aged 82. |
| Ramsey is most remembered for his insightful and acerbic weekly columns in the Sydney Morning Herald, reports AAP. | Ramsey is most remembered for his insightful and acerbic weekly columns in the Sydney Morning Herald, reports AAP. |
| His journalistic career started in 1953 and spanned more than half a century. He served as a foreign correspondent for Australian Associated Press in Port Moresby and London before accompanying Australian troops to Vietnam in 1965. | His journalistic career started in 1953 and spanned more than half a century. He served as a foreign correspondent for Australian Associated Press in Port Moresby and London before accompanying Australian troops to Vietnam in 1965. |
| His fearless reporting on the war was widely respected and rankled military leaders. | His fearless reporting on the war was widely respected and rankled military leaders. |
| Ramsey joined the Canberra press gallery the following year and famously shouted “You liar!” at prime minister John Gorton during a parliamentary debate in 1971. | Ramsey joined the Canberra press gallery the following year and famously shouted “You liar!” at prime minister John Gorton during a parliamentary debate in 1971. |
| He was deputy editor of the Australian for several years before joining the Sydney Morning Herald, where he spent his final 22 years in journalism before retiring in 2008. | He was deputy editor of the Australian for several years before joining the Sydney Morning Herald, where he spent his final 22 years in journalism before retiring in 2008. |
| Ramsey was admitted to Australian media’s hall of fame in 2017. | Ramsey was admitted to Australian media’s hall of fame in 2017. |
| Tributes have poured in from people in politics and the media. | Tributes have poured in from people in politics and the media. |
| “Vale Alan Ramsey. Uncompromising, formidable, informed, insightful. Always a match for the politicians – and they knew it,” Canberra political correspondent Michelle Grattan said. | “Vale Alan Ramsey. Uncompromising, formidable, informed, insightful. Always a match for the politicians – and they knew it,” Canberra political correspondent Michelle Grattan said. |
| Broadcaster Phillip Adams described Ramsey as “journalism’s grumpiest old bugger”. | Broadcaster Phillip Adams described Ramsey as “journalism’s grumpiest old bugger”. |