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Australia scraps card surcharges saving consumers $1.6 billion a year, inflation rises to a four-month high but stays lower than expected, the Greens elect David Shoebridge as leader, and a flydubai flight makes an emergency landing in Saudi Arabia after a pilot stabbed the other.
Credit and debit card surcharges are scrapped across Australia as of today under Reserve Bank reforms. The government says the change will take pressure off consumers and businesses and help with the cost of living.
The Reserve Bank estimates the change will save consumers 1.6 billion dollars a year. Experts warn the reforms could see many customers paying more for their credit card while getting less value and fewer rewards in return. This week's inflation increase was lower than expected after figures released yesterday showed inflation in August had jumped to a four-month-high. It signals tougher times ahead for mortgage holders and increases the chance of another interest rate hike later this year.
Greens elect new leader Shoebridge
Treasurer Jim Chalmers said inflation remains lower than expected despite the rise. The Greens elected David Shoebridge as their new leader yesterday, with Victorian senator Steph Hodgins-May as deputy. During a press conference, Shoebridge told reporters he wanted to bring about a return of hope to politics. Hodgins-May vowed the new leadership team would play hardball with the Labor Party.
Nationals senator Bridget McKenzie says there is a deep level of denial and contempt in Labor's approach to economic management after the Reserve Bank lifted interest rates to a 15-year-high this week and inflation increased through August. McKenzie accused the Albanese government of failing to accept responsibility for its role in driving up inflation through high levels of government spending.
She told Nine's Alex Ellinghausen that everyone watching has seen real wages go backwards, the largest drop in living standards in the developed world, and the highest interest rates of industrial countries other than Iceland. She called these the real economic indicators of the level of incompetence of this Labor government.
Netanyahu praises crew stopping attacker
Appearing alongside the Victorian senator on a regular panel was Environment Minister Murray Watt, who noted Labor reported a lower deficit in its final budget outcome than it had inherited when it came to office. He said it is also far lower than was predicted when the government first came to office, calling it the result of the changes and savings that have been made.
Watt said the great bulk of spending happening in the economy at the moment is not from government but from the private sector, because the government is continuing to reduce government spending. A commercial aircraft flying from Dubai to Tel Aviv made an emergency landing in Saudi Arabia after issuing an alert when one of the two pilots stabbed the other in an apparent attempt to crash the plane.
Israeli Prime Minister Benjamin Netanyahu praised crew members and passengers who prevented a disaster by entering the cockpit and stopping the attacker. He called it an extremely serious security incident. The midair crisis began when flydubai Flight FZ1073, carrying more than 170 people, suddenly lost altitude and issued an emergency alert two hours into its journey, leading the Israeli government to scramble fighter jets in response. Netanyahu made his televised remarks on Wednesday afternoon in Israel, shortly after 11.30pm AEST.
It was the first official statement on the attacks by the Israeli government after hours of speculation about whether the incident was a hijacking, an altercation between pilots or a brutal attempt to kill all on board. Netanyahu said the evidence suggested crew members and passengers prevented a disaster by entering the cockpit and stopping the attacker.
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brisbanetimes:Australia news LIVE: Chalmers says inflation still lower than expected after rise, but another rate hike on horizon; Crew members, passengers intervene after midair pilot stabbingThis story was compiled and edited by the HeadTopics newsroom and HT AI from the reports above.
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