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Tragic update on man buried alive on Bribie Island

Vibrant and energetic 25-year-old Josh Taylor, <a href="https://www.oversixty.com.au/health/caring/family-of-man-who-was-buried-alive-breaks-silence" target="_blank" rel="noopener">who found himself buried</a> in the sandy depths of Bribie Island, Queensland, has succumbed to the severe injuries sustained during the tragic incident. After five days of battling for his life, Josh's family made the agonising decision to switch off his life support. Josh's untimely demise stemmed from a seemingly innocent gathering on Bribie Island, where he and his friends were digging a sand pit to cook a pig in the traditional Maori style of hangi. Witnesses recalled the horrifying moment when Josh, while standing on a chair, lost his footing, and the sand beneath him gave way. He stumbled backwards into the deep hole, disappearing from view. It took a team of 15 people to pull him out. An off-duty paramedic and loyal friends resorted to using ropes tied to Josh's feet, pulling him free from the suffocating grip of the sand, but despite their valiant efforts, Josh had already endured significant injuries during the ordeal. As they pulled him from the hole, the force of the rescue exacerbated his injuries, leaving him without a pulse for a gut-wrenching 45 minutes. The nightmare unfolded before the eyes of Josh's family, who were also on the scene. Josh's father, Peter, was among those frantically digging to free his son. In their grief, following the decision to switch off Josh's life support, the Taylor family expressed gratitude for the compassionate efforts of those who helped to pull him from the sand, attempted to revive him at the scene, and provided care at the Princess Alexandra Hospital in Brisbane. “Without these people, Josh would not have had the opportunity to recover or give our family and friends these last precious days with him to say goodbye,” the Taylor family said in a statement. “He fought as hard as he could and is the most courageous person we will ever know. "Unfortunately, the injuries he received were too severe for him to overcome. We will somehow find a way to move on from this terrible tragedy. “He was the best son, brother, boyfriend and mate we could all have wished for. We love you Josh and will miss you every minute of every day. Goodbye mate until we see each other again.” Images: Facebook / 7News

Caring

The Block winners reveal adorable new baby’s name

Elyse Knowles and Josh Barker have welcomed their second child - an adorable baby boy. The couple took to Instagram on Sunday to announce the exciting news in a sweet video of their newborn son, and unveiled the sweet meaning behind the tot's name. "Zaii Barker 🤍 To love and protect. 18th May 🐚," the couple captioned the video. The parents are clearly in awe of their baby boy, as they used the song 'Eyes on You' by Ed Patrick in their announcement video. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/reel/Csfz4H8g2s2/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/reel/Csfz4H8g2s2/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Elyse Knowles (@elyse.knowles)</a> </div> </blockquote> The Block 2017 winners’ friends, family and fans shared their love in the comments. "The cutest little squish going around," Elyse's sister Tahlea Knowles wrote. "Congratulations ❤️ Zaii you're perfect! Enjoy this special time! So happy for you all!” commented their friend Lana Wilinson. "Well done mama! And the name is heaven. Xx," commented Lisa Wilkinson with a bunch of red heart emojis. Zaii’s birth comes two years after the couple welcomed their first-born son, Sunny. The couple announced their pregnancy earlier this year, with Elyse revealing that she was halfway through her second pregnancy. "Very, very grateful for baby number 2. Half way until Sunny is a big brother," she captioned the post. Images: Instagram

Family & Pets

The Block star finally ties the knot

Former Block contestant Luke Packham is finally married to his long-time partner Olivia. The excited groom took to <a href="https://www.instagram.com/p/CndZC22PPn5/?utm_source=ig_web_copy_link" target="_blank" rel="noopener">Instagram</a> to share their wedding photos, including an adorable family picture with their daughter Mia. "12.1.2023 an amazing day," he captioned with a red heart emoji. The couple got engaged in 2020 but delayed the wedding ceremony due to the COVID-19 pandemic and Olivia's pregnancy. His twin brother, Josh, also posted a few Instagram stories, giving fans a glimpse into the wedding. In one clip, Luke, dressed in a dark blue suit with slicked-back hair, smiled from ear to ear. "Is this guy getting married or what?" asked Josh. Luke replied happily, "Time to get married". Josh also shared footage of the couple's first dance to the song 'Unchained Melody' by The Righteous Brothers. In the clip, Olivia, donning a strapless gown and a low updo, was twirled around by Luke before the couple embraced. Friends and fans have shared their well-wishes for the couple in the comments. "Congrats mate," commented one friend. "Gorgeous photo," commented another. "Perfect day for a perfect couple," a fan wrote with two pink heart emojis. The couple first announced their relationship through Instagram in December 2019, with an intimate photo of them kissing. They then announced their <a href="https://www.instagram.com/p/CG64EDcBc5n/?utm_source=ig_web_copy_link" target="_blank" rel="noopener">engagement</a> in October 2020 and that they were expecting their <a href="https://www.instagram.com/p/CVbVgMHBtej/?utm_source=ig_web_copy_link" target="_blank" rel="noopener">first child</a> in 2021. Image: Instagram, 9 Now

Relationships

Life support of 12-year-old turned off after devastating accident

The parents of 12-year-old Josh Field have made the heart-breaking decision to switch off their son's life support, after he was left fighting for his life following a devastating accident. They said their "Joshy" would be remembered as a "hero", as the young boy would live on through donating his organs to help others live. Josh suffered catastrophic head injuries when he fell from an unfinished home at a construction site in Maddington, Western Australia, on Monday. The 12-year-old was with his cousins and little brother, who looked on as he fell from a wall and was struck on the head by a metal beam. He was rushed to Perth Children's Hospital with critical injuries and has remained on life support until his family made the difficult decision to say goodbye. “Words can’t even explain it, he’s so much more than anyone can imagine,” older sister Charnte told <a href="https://7news.com.au/news/wa/life-support-to-be-switched-off-for-josh-field-12-after-tragic-maddington-construction-site-fall--c-6761586" target="_blank" rel="noopener">7News</a>. “Even though we’ve lost him, he’s still here, he will still live on." “He’s a hero, he’s donating his heart, his lungs, his kidneys to save others.” Joshy’s older brother Jady said it was hard for it to sink in, adding the family felt “broken”. “It still feels like I’m dreaming,” he told 7News “We’ve lost the most exciting, happy person in our life... he helped us." His family have said that Joshy was a "beautiful soul" who was taken too early by the devastating accident. The family have set up a <a href="https://www.gofundme.com/f/jyrte-joshuas-funeral?utm_source=facebook" target="_blank" rel="noopener">GoFundMe</a> account to help cover Joshy's funeral costs. Image credits: 7News

Caring

Budget winners, losers and one key absence

On Tuesday night, the Morrison government shared their 2022 Federal Budget, with Aussies everywhere hoping for general living costs to be addressed. With the government feeling the pressure to help everyday Australians with the burden of living costs and soaring fuel prices, the main takeaway from the budget came in the form of a one-off payment to low income earners at tax time. For those earning under $126,000 a year, a one-off payment of $420 will be delivered in your tax return. Over the last two years, this payment was previously $1,080, with the payment designed to help being slashed by over half. In terms of petrol costs, the government has assured motorists that the price of fuel will drop in two weeks after slashing the fuel excise – the main tax on petrol – in half. Currently paid at 44.2 cents per litre, the fuel excise will be cut in half from midnight tonight to 22.1 cents per litre, saving motorists next time they go to fill up. The government has also pledged a one-off payment of $250 to eligible pensioners and and welfare recipients to help with living costs, which is expected to be paid in April. The budget also outlined $156.5 million in assistance to Ukraine, to help the nation fight an unsanctioned invasion by Russia, with at least $500,000 to help resettle Ukrainian refugees in Australia. While the Morrison government has previously committed to net zero emissions by 2050, there was nothing in the budget to dictate how this plan would be put into action. The budget bottom line will see future generations paying back Australia’s debt for decades to come, as net debt will reach $714.9 billion by June 2023 and is still growing. Despite all the promises from the budget, experts say there is one key missing element, as wage growth is tipped to increase by only half a percent despite major increases in living costs. The Opposition overnight criticised the government over failing to address the issue of Australian wages, calling it a “big challenge and big risk in the economy”. In a post on Twitter, Opposition leader Anthony Albanese said “what this Budget represents is again after almost a decade in office, they want a second decade, but with falling wages and with a trillion dollars of debt, with nothing to show for it”. Image credits: Getty Images

Money & Banking

What Aussie's want (and can expect) from the Federal Budget

As the government prepares to announce the 2022 Federal Budget, everyday Aussies are hoping that soaring fuel prices, the surging cost of living and support for small businesses will be addressed. Treasurer Josh Frydenberg is set to announce the Government's new fiscal policies on Tuesday, just weeks ahead of the expected election, which is rumoured to be held in May. Tax cuts are likely on the table for the budget, which include slashing the 44 cents-a-litre fuel duty by up to 20 cents and slashing beer duty by 30 cents, with Prime Minister Scott Morrison also hinting at one-off cash handouts for low income earners. More than 2.3 million small businesses nationwide are expected to receive $1.85 billion in cash support after spending the last two years struggling to stay afloat from the pandemic. Welfare and pension payments are also expected to be increased, with childcare subsides expected to be revamped. Cash injections are also on the cards for the defence and construction industries, while family, domestic and sexual violence prevention organisations should also see a boost in vital funding. The government's big picture According to Frydenberg, the budget deficit is forecast to be about $70 billion. The nation's debt continues to trend towards $1 trillion, but the government ensures this number is stabilising. The unemployment rate will settle at 4 percent, which Frydenberg claims is the equal-lowest mark in 48 years. Professor of Economics at UNSW Richard Holden said the economy was in better shape than had been expected, which could lead to more government spending. “So one way that [the treasurer] can frame it is, well, we did better and we have this spare money lying around, we’ll give some of that back,” Professor Holden said. The impact on everyday Aussies With a steep increase in fuel and living prices, most Australians are worried about how the budget will affect their own spending. 7News has earlier reported that the federal government is considering a one-off payment, in the range of $200 to $400, to address cost-of-living issues. It is expected that Australians earning under a certain amount per year will be offered the payment. “So every household, every income earner under a certain level of income will get some sort of direct payment. You know, a few hundred dollars or something like that." To put this figure into perspective, it is currently costing Australians approximately $100 minimum to fill their petrol tanks. There is also a growing likelihood that the low- and middle-income tax offset (LMITO), which sees taxpayers earning under $126,000 receive up to $1080 in their tax return, will not be extended. Tax cuts In addition to the whispers of the LMITO not being extended, it is expected the government will not bring forward stage-three tax cuts for Australia's uber wealthy. These changes mean that the highest earners in the country would be eligible for up to $9,000 come tax time, while low income earners would be left with very little. “I think that we should have a very close look at the tax system and the offsets that are available,” Chief Economist at the Australia Institute Richard Denniss said. “There’s no doubt that over the past decade, the shape of tax cuts that have been introduced have been for people who are higher-income earners disproportionately than lower-income earners.” Labor's rebuttal Last week, shadow Treasure Jim Chalmers told the Australian Chamber of Commerce and Industry that an Albanese government would deliver a "proper" budget in 2022 if elected to correct the “decade of rorts and waste” delivered by the Morrison government. Vowing to avoid drastic change that pits people against each other, Mr Albanese plans to outline ways to increase prosperity with a $15 billion reconstruction fund, more spending on training and a climate policy he says can create jobs. He has also previously cited previous Labor prime ministers Bob Hawke and Paul Keating and their economic strategies when creating the shadow budget. Albanese's initial promises to the Australian public include drastic action on climate change, more tax cuts for the wealthy and more money in the pockets of everyday Aussies, and a huge boost in education funding. The budget is expected to be delivered on Tuesday night. Image credits: Getty Images

Money & Banking

The Block star’s worrying revelation

Block contestant Josh Packham has revealed he has tested positive for COVID-19 after a trip to Melbourne. In a video posted to Instagram, the reality star urged the many people he encountered during his trip to get tested immediately. Packham, who competed on the most recent season of The Block with his twin brother Luke, had travelled from Sydney to Melbourne last week to watch Luke compete in a celebrity boxing match. In the video, Packham said it was “no surprise” he’d been diagnosed with COVID-19 following the trip, saying, “I just got my results back and no surprises guys, I’m positive. Obviously it sucks that I’m not spending Christmas with family and friends, but I do have my roommate isolating with me, so we’re doing it together.” <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CXu4rWQLiAs/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/CXu4rWQLiAs/?utm_source=ig_embed&utm_campaign=loading" target="_blank">A post shared by Josh Packham (@packham_pear)</a> </div> </blockquote> He said that he wasn’t feeling too sick, just dealing with a “bit of a cough, bit of a head cold”, and was hoping to be freed from isolation by New Years. He went on to encourage anyone he interacted with in Melbourne to get tested, saying, “Obviously, I came in contact with a lot of friends while I was in Melbourne. So if you’re watching this, probably go get tested immediately, guys. Don’t muck around with it. There was obviously a lot of people when I was in Melbourne coming up to say hi, which is completely fine – but yeah, you should probably go get tested straight away, if you’re watching this. “If you do want to spend Christmas with your family, it’s probably best to keep your distance from people you’re not really close with, and keep that close circle as small as possible. Chances are you will catch it, because it’s running rampant through Sydney and Melbourne right now. If you want to spend Chrissy with your family, just do the right thing.” Numerous reality stars competed at the event alongside Luke, including The Bachelorette stars Ciarran Stott and Shannon Karaka, Married at First Sight contestant Sam Carraro, and Love Island’s Todd Elton. The event previously made headlines because of an ugly spat Carraro got into with fellow MAFS stars Bryce Ruthven and Melissa Rawson. Rawson was reportedly injured after stepping in to diffuse tensions between Ruthven and Carraro, whose on-air grudge has evidently spilled over into real life. Josh and brother Luke were two of The Block’s most controversial contestants due to their involvement in the cheating scandal that unfolded; despite that, they finished second, netting $530,000 for their renovation. Image: Instagram

News

Josh Cavallo becomes Australia's first openly gay footballer

Adelaide United player Josh Cavallo has become the first openly gay male footballer in Australia during his active years on the field. The 21-year-old Socceroo made the announcement on his social media on Wednesday, saying, "I am proud to publicly announce I am gay," in an emotional statement. By coming out as the first openly gay male athlete to play in the A-League competition, Josh said he wants to help create a safe space for others to come out. Other active and openly gay males playing professional football elsewhere in the world include Collin Martin, who plays for San Diego Loyal in the second tier of football in the USA, as well as Phuti Lekoloane, who plays in South Africa’s third tier. <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CVg4B1PBanS/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/CVg4B1PBanS/?utm_source=ig_embed&utm_campaign=loading" target="_blank">A post shared by J O S H C A V A L L O (@joshua.cavallo)</a> </div> </blockquote> In his emotional statement, Josh recognised he may be subject to negativity and homophobia following his announcement, but he hoped his decision would inspire other male athletes in the closet to come out and “show that everyone is welcome in the game of football”. Josh wrote, “It’s been a journey to get to this point in my life, but I couldn’t be happier with my decision to come out,” he said. “I have been fighting my sexuality for over six years now, and I’m glad I can put that to rest." “For the people that know me personally, you’ll know I’m a private person. Growing up, I always felt the need to hide myself because I was ashamed. Ashamed I would never be able to do what I loved and be gay. Hiding who I truly am, to pursue a dream I always wished for as a kid, to play football and be treated equally never felt like a reality. “Being a gay closeted footballer, I’ve had to learn to mask my feelings in order to fit the mould of a professional footballer. Growing up being gay and playing football were just two worlds that hadn’t crossed paths before." “In football, you only have a small window to achieve greatness, and coming out publicly may have a negative impact on a career." “I hope that in sharing who I am, I can show others who identify as LGBTQ+ that they are welcome in the football community." Josh has received an outpouring of love from his football club, Adelaide United, as they shared a video of Cavallo on their Twitter account called "Josh's Truth". <blockquote class="twitter-tweet"> Josh's Truth <a href="https://t.co/NKSEP2kVWV">pic.twitter.com/NKSEP2kVWV</a> — Adelaide United (@AdelaideUnited) <a href="https://twitter.com/AdelaideUnited/status/1453173351396958208?ref_src=twsrc%5Etfw">October 27, 2021</a></blockquote> Pride Football Australia also shared messages of support, as they said "everyone deserves to be themselves." Many other Aussie sporting personalities commented on Josh's post, calling him an "inspiration", and commenting on his bravery. <blockquote class="twitter-tweet"> Everyone deserves to be themselves. Congratulations to <a href="https://twitter.com/AdelaideUnited?ref_src=twsrc%5Etfw">@AdelaideUnited</a> & <a href="https://twitter.com/aleaguemen?ref_src=twsrc%5Etfw">@ALeagueMen</a> player <a href="https://twitter.com/JoshuaCavallo?ref_src=twsrc%5Etfw">@JoshuaCavallo</a> on your bravery to come out to the world. Everyone at Pride Football Australia is right behind you. <a href="https://t.co/is9mSSA2MO">pic.twitter.com/is9mSSA2MO</a> — Pride Football Australia (@PrideFootballOz) <a href="https://twitter.com/PrideFootballOz/status/1453173651197415424?ref_src=twsrc%5Etfw">October 27, 2021</a></blockquote> Image credits: Instagram @joshua.cavallo

News

Block team hits bottom after “pigsty” home reveal

Two contestants on The Block have received one of the <a rel="noopener" href="https://www.news.com.au/finance/real-estate/the-block-2021-episode-45-reveal-josh-and-luke-receive-one-of-the-lowest-scores-in-block-history/news-story/feeb7bba580b988ce54579390bbdea80" target="_blank">lowest scores</a> in the show’s history, after their messy and cramped spaces were revealed. Despite having to complete the garage, study, and wine cellar, twins Josh and Luke received a total score of 8, and didn’t take the judges’ criticisms well. “It’s completely awkward and weird space. We’re really pissed off,” Josh said on the show. “I have nothing to say to them,” Luke added. “It’s completely disrespectful and they can go and get f****d.” Though the judges approved of the pair’s garage door, which had pedestrian access inside, and their wallpaper, they noted that the space seemed basic and unfinished. <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CVZ-KmYs_Yn/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/CVZ-KmYs_Yn/?utm_source=ig_embed&utm_campaign=loading" target="_blank">A post shared by The Block (@theblock)</a> </div> </blockquote> When they reached the lounge room, the judges shared their disgust. “Where is the bloody respect?” Judge Neale Whittaker yelled while throwing his hands in the air. The space included a mattress balanced on top of a lounge suite, rolls of toilet paper and dirty tools on chairs, and pieces of insulation piled next to furniture. The judges were also concerned the state of the room would damage the house, with dust covering everything and boxes and dirty dishes everywhere. “What message is this sending out? It’s saying: ‘we don’t give a flying …” Neale trailed off. <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CVSEduOAZYY/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/CVSEduOAZYY/?utm_source=ig_embed&utm_campaign=loading" target="_blank">A post shared by The Block (@theblock)</a> </div> </blockquote> Though Neale was the most vocal with his criticisms, judge Darren Palmer also had something to say. “This is inexcusable. It is a pigsty.” The judges were also critical of the unfinished ensuite that was attached to the lounge room/study. “That bathroom needs to go. It’s a planning disaster,” Darren said. In the basement, the judges found a carpeted wine bar, minus plumbing or a fridge and more dust covering everything. “Nothing functions. It’s all useless.” Neale said. “If Neale wants to complete four areas in a week, I will give him a brush and see how he goes,” Josh countered. “He can come and paint. I’d love to watch him paint,” Luke added. “And until then, he can shut up.” The pair also took to social media to share their feelings and shed some light on what happened behind the scenes. “Another rinsing this week,” Josh wrote on Instagram. “Contrary to what was shown, Luke and I were up till 5am doing as much as possible to present the rooms for judging.” He also promised that things would be looking up for the pair in the next challenge. “As for the remainder of the home which had nothing to do with the judges, get ready for the facelift of the century. We will also be transforming the study this week into a big bedroom! “Another massive week from our team with the finish line now in sight. Can’t wait to share everything we achieve over the coming week 😁.” <img style="width: 500px; height:281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7845053/josh-luke1.jpg" alt="" data-udi="umb://media/a7517f89ca9341a68cd9a78c43f1d260" /> Image: @luke.packham / Instagram Luke added more to the story on his own social media page, writing: “We worked really hard this week and came up short, unfortunately the editing team like to show us sleeping instead of showing us going to bed at 5am after working all night.” <img style="width: 500px; height:281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7845054/josh-luke2.jpg" alt="" data-udi="umb://media/5f198ac7c4e64655bbb5274af673e021" /> Image: @luke.packham / Instagram The brothers shared what the lounge/study area looked like after it was completed, with soft carpet, plush footstools, a pool table and a popcorn machine. Ronnie and Georgie ended up claiming victory in the huge Garage, Study and Wine Cellar Week challenge with a score of 27. Image: @packham_pear / Instagram

Real Estate

"Cold and brutal": Karl grills treasurer over scrapping of disaster payments

Today Show co-host Karl Stefanovic has criticised the federal government over its plan to scale back, and eventually scrap, COVID-19 disaster payments. It was announced on Tuesday that the government will begin winding down the payments, which give $750 a week to people who have lost at least 20 hours of work, and $450 a week to those who have lost between eight and 20 hours, as each state and territory reaches their 70 and 80 per cent vaccination targets. Per the changes, once a state or territory reaches 70 per cent fully vaccinated, people will have to reapply each week for the payment, instead of it being automatically renewed. At 80 per cent, the payment will be phased out entirely within two weeks. For states and territories like NSW or the ACT, which are <a href="https://twitter.com/CaseyBriggs/status/1442700206420549636/photo/1">estimated</a> to reach 80% fully vaccinated by October 18th and 21st respectively, this change means the scrapping of the payment is imminent. Talking to treasurer Josh Frydenberg on the Today Show on Wednesday morning, co-host Karl Stefanovic called the decision “cold and brutal”, telling Frydenberg, “I get that you can’t keep it going and going but many industries won’t be back to normal at 70 or 80 per cent – you have the arts, nightclub, hospitality and tourism, especially in Far North Queensland … to cut them off is kind of cold and brutal, isn’t it?” <blockquote class="twitter-tweet"> “We can't continue with these emergency payments indefinitely.” The Federal Government will announce today that COVID disaster payments will be wound back as each state hits the 80 per cent double-dosed vaccination target. <a href="https://twitter.com/hashtag/9Today?src=hash&ref_src=twsrc%5Etfw">#9Today</a> <a href="https://t.co/jHMFvZtDSH">pic.twitter.com/jHMFvZtDSH</a> — The Today Show (@TheTodayShow) <a href="https://twitter.com/TheTodayShow/status/1442976255402340363?ref_src=twsrc%5Etfw">September 28, 2021</a></blockquote> In response, Frydenberg outlined the government’s partnership with the Queensland Government to support Queensland businesses, concluding that, “It’s those sorts of direct economic payments that complement what we’ve been doing at higher, broader level with the Covid disaster payment and other economic support.” Frydenberg failed to address how the federal government would provide support to those who have lost work as a result of COVID-19 and are not able to find replacement work in between now and the looming deadline. Many anti-poverty advocates and welfare campaigners expressed concern about the phasing out of the payments online, including the Antipoverty Centre, who tweeted, “They’re making a huge gamble with our lives, betting that jobs will magically return overnight.” <blockquote class="twitter-tweet"> The government has started the poverty clock ticking. They’re making a huge gamble with our lives, betting that jobs will magically return overnight. All that will come of this is more people in poverty and more lives destroyed. The disaster payment living up to its name. <a href="https://t.co/LtwzgMXotU">https://t.co/LtwzgMXotU</a> — The Antipoverty Centre (@antipovertycent) <a href="https://twitter.com/antipovertycent/status/1442856771341664264?ref_src=twsrc%5Etfw">September 28, 2021</a></blockquote> Image: TODAY Show/Nine

Money & Banking

“Sh*ts me up the wall!” Scott Cam’s furious ramble over cheating scandal

The Block host Scott Cam has spoken up about the cheating scandal that has plagued the show, complaining that he has been “scrambling to save” the program. While having a chat with Fitzy and Wippa on Nova on Wednesday morning, Cam unleashed when questioned about the controversy. Several contestants admitted to viewing and sharing a photo of the show’s secret production schedule. Having access to the schedule earlier than other contestants gives an unfair advantage, as it would allow them to plan their rooms weeks in advance. “I love The Block and I don’t love anyone messing with it, and that’s messing with it. This is a competition to win $100,000 plus more – up to $900,000 is the record. People have left their homes, their kids, in an attempt to make some life-changing money,” the TV host said. <img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7843609/the-block-3.jpg" alt="" data-udi="umb://media/51f46743ad8c44cda2bbcb9b5898b95d" /> Left to Right: Kirsty and Jessy, Josh and Luke, Tanya and Vito on The Block. “[Contestants] Kirsty and Jesse, the country singing duo – these guys are battlers and this is a really big moment for them. “And to have someone cheat and get an advantage, to me is un-Australian, no good and it’s got to be weeded out.” Twins Josh and Luke were the first to be called out for cheating, and later they demanded couple Tanya and Vito come forward as well. Tanya went on to claim the photo had been sent to her “anonymously” by an ex-tradie on The Block. “We’ve never seen anything like it on The Block before,” he said. <img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7843610/the-block-4.jpg" alt="" data-udi="umb://media/b2833f1e475f4daba088064e408d73ab" /> Tanya and Luke. Image: The Block The radio hosts also played Cam an audio clip of Josh and Luke’s interview on Tuesday. It revealed the twins had accused Cam of “going easy” on other contestants who also had knowledge of the photo. The twins went on to say Cam allowed them to “get away with it”. Cam also refuted the twins’ claim that they’d done anything wrong. “Those boys are absolutely kidding themselves,” Cam said of Josh and Luke’s remarks. “I am scrambling to save this series, that’s what I’m doing, because people at home will be going ‘this whole thing is not fair, this whole thing is a joke’. “So I’m scrambling to save my show because of what they have done.” “And if he’s referring to Ronnie and Georgia, you’ve got to be joking. Tanya and Vito had the photo, the boys had the photo, they knew all along what the schedule was. “The ball was in their court, certainly not mine and for them to say that that sh*ts me up the wall.” Meanwhile, Tanya, who is at the centre of the cheating scandal, told news.com.au that she believes the entire controversy had been a “set up.” <img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7843608/the-block-2.jpg" alt="" data-udi="umb://media/2a58281d055842748465bb9495971675" /> Tanya and Vito. Image: The Block The contestant says the production schedule had been placed in an easily accessible area, which could perhaps have been purposeful in an effort to tempt contestants. “Obviously the photo did end up in my possession, but it was actually in a really obvious spot,” she said. “Most of us came by [the schedule] because it was right by the toilet, it was right there on a massive board. “It was right there in front of us, so I felt very singled out, like I was the only one who saw it but plenty of others used the toilet that day. “It felt almost like it could have been set up.”

News

Ronnie and Georgia let loose on The Block: “Biggest cheating scandal in TV history”

Fellow contestants on The Block, Ronnie and Georgia, have let loose on Josh and Luke. The twin brothers, who previously made a splash on Love Island, have become embroiled in the “biggest cheating scandal in TV history” after they were accused on Sunday’s episode. The controversial boys have made themselves a reputation of bending the rules on The Block, including leaving their tradies to paint while they went partying and even having Luke’s fiance to help style their master bedroom and wardrobe. The brothers scooped up the win for week three, and gained praise for their risky design which saw them build on the designated garage space. <img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7843548/the-block-1.jpg" alt="" data-udi="umb://media/96889c31c5af43f1bdd4ca29c542b9c0" /> George and Ronnie came fourth place, and were quick to call the boys out for allegedly cheating. “I guess it helps to cheat,” Ronnie said in a post-judging interview. The long-time couple delivered a master bedroom with lofted ceilings and impeccable finishes, earning Neill Whittaker to dub it the “best room in Block history”. However the couple lost points with their walk-in wardrobe as it was not quite completed. The pair struggled to hide their fury after being beaten by the rookie twin brothers, with Ronnie claiming the boys had a secret advantage that helped them win. “It’s amazing that you know exactly the full schedule of what rooms are coming up, they know when the challenge days are coming up … so I guess it helps to cheat. That’s great, beautiful,” Ronnie said sarcastically as Georgia begged, “Don’t go there.” The producer asked: “Do you think they’ve found out some way,” to which Ronnie responded: “They’ve known from day one.” “So you really think the boys have found out?,” the producer went on to press. “Mate, I don’t f**ing really think, I know for a fact,” the reality star shot back in a furious reply. The new episode is set to air on Monday night and it will be jam packed with drama. A wild confrontation between Mitch, Mark, Luke and Josh was also shown in the promo video. “You disgusting ignorant young piece of filth,” Mitch is seen yelling in the promo. “Rude, rich, snob,” Josh fired back.

Hope Gap shows what can happen when a marriage ends

A couple's visit with their son in the quaint seaside town of Seaford in England, takes a dramatic turn when the father tells him he plans on leaving his mother. As well-trodden as this subject might be, there’s still something terribly compelling about watching the end of a marriage play out on screen. Annette Bening plays the woman whose life crumbles as her husband leaves her and Bill Nighy plays the husband. Josh O'Connor plays the couple's son. This drama is tastefully restrained to a fault in a particularly British manner. Veteran screenwriter William Nicholson, a two-time Oscar nominee, based the film on his Tony-nominated play The Retreat from Moscow – shows his talents here. <iframe width="560" height="315" src="https://www.youtube.com/embed/oAP1fA-bp5k" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe> The title of the film was inspired by Napoleon’s invasion of—and messy withdrawal from—the Russian city, a subject which fascinates Nighy’s character and serves as an obvious metaphor for the destruction of his own marriage. It’s obvious we have all the makings of a genuine story here in Hope Gap but some reviewers have said the film doesn't have the emotional depth for the areas being covered. As well, Annette Bening has come in for some criticism about her ill-fitting British accent. But there are glimmers of insight along the way, particularly in how Grace (Bening’s character) compares a divorce to a murder and how spurned women are devalued in comparison with widows. Throughout the story, we're served up some stunning coastal vistas from Seaford which is close to Brighton in southern England. Hope Gap is worth it if just for these vistas and the great performances from Nighy and Bening. Hope Gap is streaming now on Amazon Prime. Photo: Amazon Prime

Movies

Leigh Sales slams Josh Frydenberg over Budget "assumptions"

<div class="body_text redactor-styles redactor-in element-type-p"> ABC's 7:30 host Leigh Sales wasn't thrilled with the current Federal Budget and grilled Treasurer Josh Frydenberg on Tuesday night about the range of "assumptions". “The budget is based on a series of assumptions, and they are that the whole Australian population will be vaccinated by the end of the year, that there’ll be no sustained state border closures this year and no major COVID outbreaks, and that international borders will start to operate reasonably normally by the middle of next year,” Sales said. “Those are very uncertain and heroic assumptions, aren’t they?” Frydenberg said that the government is staying cautious due to the coronavirus pandemic. “We’re in the middle of a pandemic, and making assumptions during normal times is difficult – to make them during the middle of a pandemic is even more so,” he said. “Those assumptions are based on the best available evidence to us. “We know that more than 10 per cent of the Australian population has now received their first dose. “We’ve seen 30 per cent of those aged over 70 or above receive a dose. “We saw more than 400,000 doses rolled out over the course of the last week. More supply is coming online. So that is the assumption about vaccines. <blockquote class="twitter-tweet"> WATCH: Treasurer <a href="https://twitter.com/JoshFrydenberg?ref_src=twsrc%5Etfw">@JoshFrydenberg</a> joins <a href="https://twitter.com/leighsales?ref_src=twsrc%5Etfw">@leighsales</a> for his first post-budget interview, after he declared Australia's economic engine is "roaring back to life" and unveiled tens of billions in new spending. <a href="https://t.co/Hny0pkGhKf">https://t.co/Hny0pkGhKf</a> — abc730 (@abc730) <a href="https://twitter.com/abc730/status/1392085762472960001?ref_src=twsrc%5Etfw">May 11, 2021</a></blockquote> “With respect to international borders, it’s quite a conservative, cautious assumption that international borders will gradually reopen from the middle of next year.” It's been a slow start to the national vaccination program, with numbers trailing behind what's required. “The mass vaccination centre will be able to administer up to 30,000 vaccines per week once it is up and running, that means around 5000 vaccinations per day,” NSW Premier Gladys Berejiklian said. “The centre, combined with the more than 100 NSW Health run clinics and hubs, means NSW Health can administer around 60,000 vaccines each week across the state.” 50 million doses are required to vaccinate everyone over the age of 16 in Australia, but authorities have managed to deliver 2.7 million doses. </div>

News

Treasurer Josh Frydenberg releases long-awaited Retirement Income Review

Recently, <a href="https://nationalseniors.com.au/">National Seniors Australia</a> welcomed Treasurer Josh Frydenberg's Retirement Income Review. However, the document has been critiqued for lack of clear recommendation and understanding for the problems at hand. An overly complicated system is much to blame. The report predicts the cost to the taxpayer for funding the Age Pension will decrease. The Age Pension is expected to “fall from 2.5 per cent of GDP to 2.3 per cent by 2060.” <a href="https://nationalseniors.com.au/">National Seniors</a> Chief Advocate Ian Henschke notes that while a equity in the home is a key factor in more successful retirements, a key barrier was not acknowledged. “<a href="https://nationalseniors.com.au/">National Seniors</a> has long been calling on the government to cut the interest rate for the existing Pension Loans Scheme (PLS). It’s a clear barrier.” Mr Henschke also noted that the report didn't adequately understand why Australians may not be making better use of their savings as they age. “Seniors tell us time and again they are petrified of running out of money. They fear the pension, health and aged care systems, which are essential components of the retirement income system won’t meet their needs. Acknowledging these fears is an important first step in reforming the retirement income system." “If you look at aged care, for example, we are currently in the middle of the Royal Commission because, to use the Prime Minister’s own words, people have lost ‘faith’ in the aged care system.” Mr Henschke said that the scheme "is especially important for those receiving aged care, who could be using it to live more comfortably staying in their own home and out of residential aged care. “The PLS has seen a three-fold increase in demand but only 2,288 people used the scheme as of March 2020. “Lowering the 4.5% interest rate should be a priority and certainly must be cut in the next Federal Budget." said Mr Henschke. “We urge the Treasurer to recognise the vital role older Australians could play in the economy and the COVID recovery by helping them release the equity in their homes.”

Retirement Income

$15 billion JobKeeper backflip to kick in from September

Employers will gain easier access to the JobKeeper wage subsidy from the end of September in a $15 billion federal backflip to deal with the economic damage from sweeping Victorian shutdowns. Treasurer Josh Frydenberg will reverse the strict eligibility criteria which were announced less than three weeks ago. This means more companies will be able to qualify for the payment, which drops to $1200 a fortnight from September. Hours after predicting another spike in unemployment due to lockdown restrictions, Frydenberg gained cabinet approval to add to the $85.7 billion cost of the scheme. The government informed employers on July 21 that it would impose tougher measures to JobKeeper for the second phase of the scheme by requiring them to show a fall in turnover in the two quarters to the end of September. The Treasurer will confirm on Friday that the eligibility test will shift to an easier test so employers only need to present a fall in turnover in the quarter to the end of September, compared to the same period last year. Employers that hope to qualify for JobKeeper in the final stage, from January to the end of March, would need to show their turnover has declined in the quarter to the end of December compared to the same period last year. The JobKeeper payment rate will decrease from $1500 to $1200 from the first week of October.

News

Treasurer Josh Frydenberg admits $60 billion JobKeeper error is “regrettable”

Prime Minister Scott Morrison has taken responsibility for a “regrettable” $60 billion JobKeeper reporting error. In an opinion piece published on The Australian Monday, Treasurer Josh Frydenberg said Treasury massively overestimated the number of people who would need the JobKeeper wage subsidy because it assumed in March the COVID-19 health crisis would be much worse. The Federal Government had previously said more than 6 million workers would receive $1,500 fortnightly wage subsidy, but on Friday admitted that the scheme would only cover about half that number. It also revised the program’s estimated cost from $130 billion to $70 billion. “Ultimately, I have to take responsibilities for those things,” Morrison said on Sunday. “So sure, the estimate was overstated. “But what it means is Australians won’t have to borrow as much money. This is not money that is sitting in the bank somewhere, this $60 billion, that is all money that would have otherwise had to be borrowed.” On Friday, Frydenberg said the mistake was “good news” and had been picked up before it impacted the payments that the government had already released. “It is welcome news that the impact on the public purse from the program will not be as great as initially estimated,” he said. Labor has called for Frydenberg to explain the miscalculation to a Senate inquiry. Opposition Senate Leader Penny Wong told the ABC’s Insiders the mistake was a “$60 billion black hole in the economic credibility” of the government. “When you’ve got a budget blunder of this size, I reckon it’s about time you fronted up and explained it,” Wong said. Wong previously said the $60 billion should be used to expand the JobKeeper program to include more casuals. Frydenberg said he would not answer calls from Labor to front a senate committee. “This is just a political stunt from the Labor Party,” he told the ABC on Monday.

Money & Banking

Here's how much the lockdown is costing the Australian economy every week

Australia’s coronavirus shutdown is costing the economy $4 billion a week, according to new Treasury analysis that will be considered as the national cabinet meets to decide which restrictions to lift. Treasury has estimated the mass closures of businesses and activities will shrink Gross Domestic Product by 10 to 12 per cent by June, equivalent to $50 billion. The crisis has also been predicted to leave 700,000 more Australians to lose their jobs. Every extra week the current restrictions stay in place costs the economy another $4 billion, Treasurer Josh Frydenberg is expected to say in a planned speech to the National Press Club on Tuesday. “Notwithstanding Australia’s success to date on the health front, and the unprecedented scale and scope of our economic response, our economic indicators are going to get considerably worse in the period ahead before they get better,” Frydenberg will say. He will warn that people need to get back into work quickly. “In the early 1990s, unemployment increased by 5 per cent over three years, but took seven years to get back to its pre-crisis level,” he will say. “It underlines the importance of getting people back to work as soon as possible to avoid the long-term economic and social impacts from a high unemployment rate.” Frydenberg will say he is “<a href="https://www.abc.net.au/news/2020-05-04/coronavirus-shutdown-costing-economy-$4-billion-a-week/12213612">reassured</a>” by the national cabinet’s decision to expedite its consideration of opportunities for COVID-19 restrictions. “The economic shock the world is confronting dwarfs the Global Financial Crisis,” he will say. “Reassuringly, national cabinet has signalled that from this Friday, it will assess more opportunities for easing restrictions, building on decisions already taken to date, such as around elective surgery, or in some states, limited gatherings, and visitations.”

Money & Banking

Older Australians must work longer, says Treasurer Josh Frydenberg

Treasurer Josh Frydenberg will signal a push to keep older Australians in work longer to help improve the national economy. Frydenberg will use a speech to the Committee for the Economic Development of Australia on Tuesday evening to argue that a “new dynamic” is needed to deal with the country’s ageing population. According to the <a href="https://www.smh.com.au/politics/federal/new-dynamic-frydenberg-says-over-60s-need-to-retrain-to-boost-economy-20191118-p53brb.html">Sydney Morning Herald</a>, Frydenberg will say that a “range of policy responses” is required to address the “economic time bomb”, including training to keep Australians aged 65 and older in the jobs market. Frydenberg will say working Australians currently undertake 80 per cent of their training before they turn 21. “This will have to change if we want to continue to see more Australians stay engaged in work for longer,” he will say. Since the government’s first intergenerational report was released in 2002, the number of people aged 65 or older has increased from 13 per cent of the population to more than 16 per cent. “Our median age, now thirty-seven, has increased by two years since then and life expectancy has gone to 81 for males and 85 for females,” Frydenberg will say. “As more Australians live longer, the number of working age Australians for every person aged over 65 diminishes, whereas in 1974-75 it was 7.4 to one and 40 years later in 2014-15, it was 4.5 to one.” “It’s estimated over the next four decades to fall to just 2.7 to one.” Frydenberg is also expected to declare migration as part of the government’s strategy to reduce the economic impacts of Australia’s ageing population. In an opinion piece published in the Australian Financial Review on Tuesday, Frydenberg wrote, “When it comes to population, our migration program has served us well … With the median age of migrants being 20 to 25, or 10 years less than that of the broader population, immigration has helped to soften the economic impacts of an ageing population.” Labor frontbencher Jason Clare says the Morrison government “have got form” on making people work for longer. “They’ve cut the pension or they’ve frozen superannuation before. There are no new ideas here,” Clare told <a href="https://thenewdaily.com.au/news/national/2019/11/19/josh-frydenberg-wants-australians-to-work-for-longer/">Sky News</a>. “It’s just Frydenberg digging up the old ideas of getting people to work longer.” National Seniors Australia chief advocate Ian Henschke said the treasurer’s “time bomb” analogy was “stigmatising”. “Rather than stigmatise older Australians, we should blame previous treasurers from 1980 who have stood by and watched this happen,” Henschke said. “Let’s deal with the facts, for example, that older Australians are wanting to work more and longer but they are not getting the work they need. “When they do retrain, we know they are experiencing discrimination.”

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“People are fed up”: Treasurer Josh Frydenberg asks ACCC to investigate banks who fail to pass on rate cuts

Australian Treasurer Josh Frydenberg has asked the Australian Competition and Consumer Commission (ACCC) to investigate the banking sector for failing to pass on interest rate cuts to customers in full. This comes after three official rate cuts since January, meaning that the new rate is a record low of 0.75 per cent. Frydenberg has said that the big four banks, ANZ, NAB, Commonwealth Bank and Westpac have failed to pass on the rate changes in full to their customers. "It's costing someone with a $400,000 mortgage around $500 in higher interest payments than they otherwise should have to pay if these last three rate cuts were passed on in full," Frydenberg told Channel 9, according to <a href="https://www.abc.net.au/news/2019-10-14/josh-frydenberg-asks-accc-to-investigate-banking-sector/11598614">The ABC</a>. "But it's not just these last three rate cuts where the banks have failed to pass them on, it's actually what's happened previously under the Labor government, there were 14 different rate cuts and only five of them were passed on in full. "So clearly there's a structural challenge here, there's a pattern of behaviour and the Australian people are fed up." Frydenberg has said that the ACCC needs to use its “particular powers to compel documentation to lift the hood and get to the bottom of this issue”. Labor also welcomes the inquiry by the ACCC in principle, but is asking to see the details of the plan. "Labor has been calling for the ACCC to play a bigger role here," Shadow Treasurer Jim Chalmers told AM. "With record household debt and stagnant debt under the Liberals you can see why customers are frustrated at the banks for not passing through interest rate cuts. "The big banks are still very profitable by international standards so they shouldn't be doing the wrong thing by borrowers. "We want to make sure that those interest rate cuts can do good in the economy, that means having them passed onto consumers." ANZ chief executive Shayne Elliot welcomes the inquiry. "Despite intense competition, there is cynicism in the broader community about interest rates for home loans," he said. "We know we have not done a good job in explaining our position and we will be working hard to ensure this process delivers results." Mike Baird, chief customer officer for consumer banking at NAB agrees, saying that the inquiry is “an important opportunity to discuss the challenges of an increasingly low interest rate environment and engage in a broader discussion about how we support all our customers— both depositors and borrowers". Westpac has said it’s “too early to comment” and a spokesman for Commonwealth Bank has said that it was “currently digesting the implications”.

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