Key events
Shadow treasurer says Jim Chalmers has ‘no rules’ on government spending
Ted O’Brien, the shadow treasurer, said the Albanese government was spending as if there were no rules guarding the government purse strings, saying Sussan Ley’s economic roadmap she unveiled in a speech yesterday would do things far differently.
O’Brien spoke to RN Breakfast this morning after Ley said the Coalition would move to ramp up means-testing of welfare payments and rein in government spending. He said:
Growing the economic pie is absolutely critical but the other part is the government has to stop the spending spree. And this is probably the biggest criticism I have of the Albanese government’s economic management. They have increased spending. …
This is the problem because ever since the Hawke government, every treasurer has had to abide by rules. This treasurer Jim Chalmers has no rules, which is why spending just keeps on going.
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Unemployment expected to rise as ABS releases latest data
Australia’s jobs market is forecast to remain in good health, despite an expected rise in the unemployment rate, Australian Associated Press reports.
Labour force figures to be released by the Australian Bureau of Statistics later this morning could show the jobless rate ticked up to 4.3% in August, retracing a 0.1% drop to 4.2% the month before.
That would be in line with the Reserve Bank’s forecasts for the unemployment rate, meaning it would have little impact on the central bank’s cash rate considerations, economists at JP Morgan said.
“That said, at these levels there is little scope for any further deterioration without a dovish shift in the bank’s tone/forecast,” said Ben Jarman, Tom Kennedy and Tom Ryan in a research note.
With jobs growth trending in line with overall population growth, recent data paints a picture of a labour market in balance.
“Indicators of labour demand generally have steadied over the past year or so at healthy levels,” economists at NAB said.
While strong employment growth in 2023 and 2024 was driven primarily by a rapid expansion in the health and care economy workforce, jobs growth in those sectors has flatlined since the start of 2025, they said.
In the US, the Federal Reserve cut rates for the first time since December. Read more here:
Good morning, Nick Visser here to take over for Martin Farrer. Let’s see what Thursday holds.
TV presenter Roger Climpson dies at 93
The former TV presenter Roger Climpson, who was the face of This is Your Life and Seven News in Sydney, has died aged 93.
Climpson, who was also chair of Hope Media for 20 years, died peacefully in his sleep on Tuesday. He was best known for hosting This Is Your Life between 1977 and 1980, and hosting Australia’s Most Wanted between 1997 and 1999.
He also hosted Sydney’s 2GB radio afternoon show from 1977, and was the anchor of Sydney’s Seven News between 1989 and 1994. Phillip Randal, the Hope Media chief executive said yesterday:
Roger left a legacy of love, faith and vision at Hope Media. So much so, it’s virtually impossible to sum it all up in a few words.
During his term as chairman, Roger oversaw a time of great change for the ministry, enabling it to engage with a wider audience and meet the challenges and opportunities of the 21st century.
Abu Dhabi drops its planned $30bn bid for Santos
An Abu Dhabi-based consortium has withdrawn its planned $30bn takeover bid for offer for the Australian oil and gas producer Santos.
The consortium led by investment company XRG – a vehicle for the Abu Dhabi National Oil Company – blamed a “combination of factors” for its change of heart.
It said that there had been a comprehensive evaluation but it had decided not to proceed after due diligence “impacted the consortium’s assessment of its indicative offer”.
XRG said:
The consortium was prepared to undertake new long-term commitments to Australian energy production that would deliver meaningful benefits to domestic gas consumers and enhance regional energy security.
As a strategic long-term investor, XRG remains dedicated to pursuing opportunities across gas & LNG, chemicals, and energy solutions, and has a rich and deep pipeline of investment opportunities
Adelaide-based Santos has operations in Australia, East Timor, Papua New Guinea and the United States, and is a major supplier of liquefied natural gas in Australia and Asia.
Murder charge over 2002 death after bones found in back yard
Police have charged a man with murder, hours after bones were found during a search for the remains of a woman who vanished more than 20 years ago, Australian Associated Press reports.
The breakthrough in the cold case was made late on Wednesday following the discovery of suspected human remains, believed to be those of Susan Goodwin, 39, buried in the back yard of a house in Port Lincoln, South Australia.
Detectives arrested and charged a 64-year-old Port Lincoln man with the murder of Goodwin, who was reported missing in July 2002.
He will appear in Port Lincoln magistrates court today.
An anthropologist from Forensic Science SA has travelled to the town to confirm if the bones are human remains and continue excavations.
Police had been using specialised radar equipment to scan a property in Pamir Court, which adjoins Moonta Crescent, where Goodwin had lived.
On Tuesday, Det Insp Andrew Macrae said it was “a tragedy that Susan’s family have spent the last 23 years without answers”.
Goodwin was last seen about lunchtime on 19 July, 2002 after shopping at Coles and Woolworths in Port Lincoln.
In 2017, police said a public appeal for information had led to seven persons of interest being cleared by the investigation.
A reward of up to $200,000 is offered for information leading to the conviction of Goodwin’s killer and/or information that leads to the recovery of her remains.
Welcome
Good morning and welcome to our live news blog. I’m Martin Farrer with the stories making the headlines first thing, before I pass the baton on to Nick Visser.
The big news today is expected to be the Albanese government announcing its carbon emissions target for the next decade. But before we get that, there’s plenty of other news around.
Australia’s jobs market is forecast to remain in good health, despite the prospect that the latest figures due out this morning will show a rise in the unemployment rate. Economists don’t think it will affect interest rates, although there could be a knock-on from the US Fed’s decision overnight to cut rates for the first time since December. More coming up.
Police in South Australia have charged a man with murder, hours after bones were found during a search for the remains of a woman who vanished more than 20 years ago. More coming up on that too.
And a $30bn takeover bid for Australian gas giant Santos has been withdrawn at the last minute after a consortium led by the UAE’s state-owned Abu Dhabi National Oil Company reconsidered its offer.
