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Key occasions
Q: Will it’s attainable for the federal government to draw high-skilled staff by a brand new specialist pathway and quick observe their purposes in simply seven days?
Clare O’Neil:
Completely … something is feasible should you’ve received the eagerness and vitality to repair the system.
She mentioned the federal government desires “sensible folks” like scientists, docs and cybersecurity specialists to come back to Australia and assist increase productiveness, however it’s “nearly unattainable to get folks into the nation”.
For a few of the highest expert individuals who attempt to come to our nation, it may possibly take as much as a 12 months for these folks to get a visa to come back right here as a result of they should undergo a particular system that the immigration has to personally log off on, and that’s simply completely loopy.
We’re going to set a seven day service normal median processing time as a result of bear in mind, with these actually excessive talent folks, we’re coping with each different nation on the planet to get these folks right here. We’re in a world race for expertise and we’re not going to win it until we do basic items like give folks quick solutions on their purposes.
Shutting down the ‘visa factories’
Clare O’Neil couldn’t give a determine of what number of “ghost faculties” would shut on account of the federal government’s new short-term migration technique however mentioned these display “the worst of the worst of integrity and exploitation points within the system”.
You possibly can learn extra about “ghost faculties” under:
O’Neil describes the phenomenon as faculties arrange “that are actually visa factories” for worldwide college students to check however who’re truly right here to work:
That is actually unhealthy for the nation as a result of these college students must be having expertise right here, must be getting a correct training. As a substitute, we all know they’re gathering in low-paid professions, are extremely weak to exploitation and don’t have any attainable pathway to permanency in our nation.
It’s not good for them, it’s not good for Australia and that’s why we’re attempting to close that funnel off for the nation.
‘It’s actually onerous to get these excessive expert staff that we desperately want’
Dwelling affairs minister Clare O’Neil spoke to ABC RN simply earlier in regards to the Albanese authorities’s new 10-year short-term migration technique, as a result of be launched at present.
As reported by Amy Remeikis, the federal government will increase the bar for worldwide college students and a few staff to get a visa and because it seeks to overtake what it says is Australia’s “damaged” short-term migration program.
You possibly can learn extra on this under:
O’Neil mentioned it will be a discount of “lots of of 1000’s” of individuals over a four-year interval – not simply worldwide college students:
The general mixture of our migration program in the intervening time shouldn’t be delivering for the nation. And by that, I imply it’s actually onerous to get these excessive expert staff that we desperately want right here, however we’ve made it a lot too simple for folks to make use of facet door and backdoor entries into our workforce. And the first means that’s occurring in the intervening time is thru worldwide training.
We have to repair that instantly, and the way in which that we’re doing that’s ensuring that we’re lifting requirements for worldwide college students and guaranteeing that they’re truly right here to check and to not work. That is essential to restoring integrity and belief within the system.
Debt progress flagged
Extra on what is anticipated within the Myefo on Wednesday: a considerable enchancment within the gross debt place has been flagged.
Gross debt was projected to exceed $1tn in 2023-24 however it’s now projected to be $147bn decrease at $909bn by the tip of 2023-24.
Gross debt as a share of GDP is now anticipated to peak at 35.4% of GDP, 9.5 proportion factors decrease than was inherited at Pefo and 1.1 proportion factors decrease than forecast on the 2023-24 price range.
Gross debt is anticipated to peak in 2027-28 compared to 2025-26 as flagged by the price range, as a result of greater borrowing prices.
Treasurer Jim Chalmers mentioned:
There isn’t a fast repair to the trillion {dollars} of debt we inherited from our predecessors however now we have made a considerable distinction already, and that’s saving billions and billions of {dollars} in curiosity.
Due to our efforts debt will peak decrease than was projected on the election and decrease than forecast at Finances time.
We have now discovered a strategy to restore the Finances similtaneously we roll out tens of billions of {dollars} in price of residing assist and put money into expertise, Medicare, vitality and housing.
Rate of interest rises put stress on price range
When the mid-year financial and financial outlook (Myefo) is launched on Wednesday, it can present greater rates of interest are placing further stress on the price range.
Borrowing prices will now overtake the NDIS to be the quickest rising space of commonwealth spending. To account for this the Treasury has up to date its assumption for the typical price of recent borrowing to be 4.7% – in contrast with 3.4% on the time of the 2023-24 price range.
This enhance will price the price range $80bn extra in curiosity funds over the 11 years to 2033-34. With out this enhance gross debt could be $94bn decrease in 2033-34.
In the meantime, gross debt as a share of GDP is now anticipated to peak at 35.4% of GDP, 1.2 proportion factors decrease than forecast on the 2023-24 price range and 9.5 proportion factors decrease than forecast on the pre-election financial and financial outlook 2022.
Treasurer Jim Chalmers mentioned greater rates of interest are “hurting households they usually’re hurting the price range as effectively”:
With greater charges, the curiosity on the trillion {dollars} of debt left to us by the Coalition is costing taxpayers extra.
The curiosity invoice on the Coalition’s wasted decade is now the quickest rising expense within the Finances.
We’re getting authorities debt on a greater trajectory, however that debt is changing into costlier to service.
Our accountable financial administration is getting the Finances in a lot better nick however greater rates of interest aren’t serving to.
VCE outcomes go surfing
Caitlin Cassidy
Yr 12 college students throughout Victoria are the primary off the block within the nation to obtain their closing examination outcomes at present.
Since 7am marks have been stay on-line for the VCE, with Tasmania to observe on Wednesday and NSW and the ACT on Thursday.
This 12 months 57,601 college students are graduating with their VCE, a completion price of 97.4%.
Some 51,214 college students accomplished the normal VCE, whereas an additional 6,387 accomplished the brand new VCE vocational main – an utilized studying certificates that’s unscored (11% of the cohort).
In complete, 246,470 research scores will likely be issued to college students throughout the VCE programs. Of these, 21,754 have been marked 40 or above (within the prime 8.8%) and 656 are the utmost rating of fifty (0.3% of the cohort).
Victoria’s minister for training, Ben Carroll, congratulated college students receiving their VCE outcomes.
Getting by 12 months 12 shouldn’t be for the faint hearted – however it’s vital to do not forget that this is just one step in your life journey – there have by no means been extra decisions obtainable akin to college, Tafe, traineeships, and work.
College students can entry their VCE outcomes right here.
Good morning
Emily Wind
And glad Monday – I hope you loved your weekend and stayed cool throughout that heatwave! I’m Emily Wind and I’ll be bringing you our rolling protection at present.
Making information at present: the mid-year financial and financial outlook (Myefo) will likely be launched on Wednesday, exhibiting an $80bn hit to the price range overt he subsequent decade from rate of interest rises. Treasurer Jim Chalmers mentioned:
Greater rates of interest are hurting households they usually’re hurting the price range as effectively, and that’s what our mid-year outlook will present on Wednesday.
Yr 12 college students throughout Victoria are the primary off the block within the nation to obtain their closing examination outcomes at present. From 7am marks went stay on-line for the VCE, with Tasmania to observe on Wednesday and NSW and the ACT on Thursday.
We can have extra on these tales shortly.
In the meantime, the Queensland premier, Annastacia Palaszczuk, introduced her retirement from politics yesterday – and we’ll little question proceed to see the fallout from this play out in the course of the week earlier than the caucus meets on Friday to elect a brand new chief.
You possibly can learn extra about her announcement right here and right here, should you missed it yesterday.
If you happen to see one thing that wants consideration from the weblog, you may get in contact with me on X/Twitter @emilywindwrites or through e mail: emily.wind@theguardian.com.
With that, let’s get began.
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