A 0.25 percentage point increase, as widely expected, will be the seventh back-to-back rate rise; states’ subsidies cover $1.4b of household power bills. Follow updates here.
The federal and state governments will jointly fund an $887 million relief package for flood-hit business and primary producers in Victoria.
Of the total package, $22 million will be spent on recovery plans, mental health support and to assist with grant applications. The flood aid announcement comes as Victoria enters caretaker mode on Tuesday ahead of the state’s November 26 election.“We’re going to need to continue this effort for some time because the floodwaters are going to take quite a while to recede.”deficit projections of $9.
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