As the treasurer lauds supply-side economics, a once-controversial recovery theory is gaining traction.This is the essence of modern monetary theory – that government budgeting is nothing like household or business budgeting, for the simple reason that government can create money.
Queensland premier Annastacia Palaszczuk has begun signalling her support for Adani’s Carmichael coal mine in the Galilee Basin. Following federal Labor’s poor performance in central Queensland at the election on Saturday, where One Nation and United Australia Party preferences led to strong Coalition swings in several key seats, Palaszczuk said on Wednesday her office would seek to expedite approvals for the Adani mine. “We need some certainty and we need some timeframes, enough is enough”, Palaszczuk said. In 2017, Adani was granted a 60-year lease on unlimited volumes of water from the Great Artesian Basin. The project is estimated to generate 4.7 billion tonnes of greenhouse gas emissions over its lifetime.
At least nine refugees in offshore detention centres have attempted suicide since the federal election on Saturday. Speaking to News Corp on Tuesday, Manus Island refugee Shaminda Kanapathi said detainees’ morale had collapsed in recent days, saying “no one comes out of their room, no one is talking to each other and [they are] keeping themselves isolated”. Iranian Kurdish refugee and journalist Behrouz Boochani said “the situation in Manus is out of control”, and that “no one is able to help anyone”.
Shadow treasurer Chris Bowen has pulled out of the federal Labor leadership race just over a day after announcing his candidacy. Speaking on Wednesday, Bowen said “it would be unlikely for me to win the ballot” against shadow transport minister Anthony Albanese, who has secured pledges of support from senior Labor figures Tanya Plibersek, Penny Wong, Joel Fitzgibbon and Kristina Keneally. Queensland MP Jim Chalmers has indicated he may stand for the leadership.
And the Ngarrawanji people of the east Kimberley have won a decades-long fight for native title over their traditional lands. In her determination, Federal Court justice Debra Mortimer paid tribute to nine of the original title applicants who died since lodging their claim in 1996, saying “they will be present in the minds of all those who listen to the making of the court's orders, and their contribution will be acknowledged and remembered, but the tragedy of their absence remains”. Speaking at Moola Bulla station on Wednesday, Ngarrawanji native title claimant Greg Tait said “all the old people and the spirits will be very proud to see us and our kids here today”. Native title claims covering an area the size of Belgium will be decided upon this week as the Federal Court moves through the east Kimberley, with Malarngowem and Yurriyangem Taam traditional owners set to hear their determinations today.
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