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.
A surge of climbers is expected to scale Uluru, on the last day in which they will be legally allowed to defy the wishes of the Anangu traditional owners. This afternoon workers will begin the process of removing any indication that climbing ever took place on the sacred site, with a fine of up to $10,000 in place from tomorrow for anyone attempting the climb. Video captured on Thursday showed hundreds queuing up at 7am to make the ascent, attracting people from all over Australia, foreign tourists, and social influencers. Jamie Lowe, a Djabwurrung man and chief executive of the National Native Title Council, said the surge in numbers was a “real disappointment”. The ABC reports the closure could inspire other traditional owner groups to do similar with other sacred sites, such as in parts of the Grampians in Victoria. Central Land Council chair Sammy Wilson said the brief period of time tourists have climbed Uluru pales in comparison to the tens of thousands of years that Indigenous Australians have lived on the land. “It is just a blip in the middle, this whole climb thing, it is going back to normal by banning the climb,” he said. The Anangu people will mark the occasion with a ceremony at Uluru on Sunday night.
More than a dozen large New South Wales towns face a “high risk” of running out of water, according to information given to emergency services and other state government agencies this month, reports The Sydney Morning Herald. The north-west town of Bourke is as at “very high” risk, with Orange and Tamworth described as “high risk”. The drought has seen consumer confidence in regional NSW drop to levels not seen since the global financial crisis. The ABC reports that the driest wet season in decades means underground aquifers are running critically low in rural Darwin. Queensland’s largest dam dropped ($) to its lowest level in a decade. South Australia experienced its hottest October temperatures in more than a century, with Port Lincoln reaching 40.8 degrees.
Climate scientist Professor Andy Pitman tells Guardian Australia he misspoke when he claimed in June that there is no link between climate change and drought, and that conservative media misrepresented his views. “I missed a word in my statement and that’s my fault. I should have said no ‘direct’ link,” he said, clarifying that climate change would make the impacts of drought worse. Meanwhile, Labor is calling for a police investigation into whether a document was forged in Energy Minister Angus Taylor’s office with the purpose of influencing the exercise of duty by the Lord Mayor of Sydney, Clover Moore. Taylor’s office had provided a doctored council document to The Daily Telegraph falsely indicating Moore’s office had spent $15m on travel, in a bid to suggest the carbon emissions from the travel made her a hypocrite on climate change.
United Kingdom Prime Minister Boris Johnson has abandoned his pledge to exit the European Union by October 31, promising to give MPs more time to debate his Brexit deal if they agree to a December 12 election. In a letter to Opposition Leader Jeremy Corbyn, he wrote it is “our duty to end this nightmare”. The news comes as the 39 bodies discovered in the back of a truck in Essex on Wednesday were identified as Chinese nationals, sparking discussion about the rise in Chinese victims of human trafficking in the UK.