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Albanese calls for businesses to strategically adopt new technologies and for government to guard against risks
Albanese says we should always be mindful of efficiencies but in the decade ahead, bigger thinking is needed – particularly in technology and innovation.
The economic change under way is far bigger than this. The way we share technology will be absolutely critical … we need to think about ways technology can empower workers, freeing people up from the routine parts of their job … and giving them back that time to focus on producing and caring and innovating.
He says productivity gains can be achieved if businesses adopt new technologies “earlier, more widely … and strategically”, calling for leadership from the sector while also pointing to the government’s role.
Government has a key role to play in maximising the potential benefits and guarding against risks.
Key events
Adam Bandt decries ‘disgusting political mudslinging’ over Brittany Higgins
Paul Karp
Adam Bandt has commented on contention over whether Labor figures were aware of Brittany Higgins complaint before she went public.
He said:
The disgusting political mudslinging over Brittany Higgins’ brave decision to speak out sends the wrong message to every woman…
Women should be able to come forward without worrying that their text messages will be splashed across the media.
Nothing we have seen so far suggests the need for an inquiry or referral to the NACC.
Warnings have been issued for the Sevens Creeks, downstream of Euroa to “prepare now” for moderate flooding at Kialla West on Saturday morning.
Vic Emergency says:
Since 9am Thursday, rainfall totals of up to 20mm have been observed across the Seven and Castle Creeks catchment. No significant rainfall is forecast for the remainder of Friday and into the weekend. River levels will remain elevated for the next few days.
… The flood peak is approaching Kialla West where river levels are likely to exceed the minor flood level overnight Friday into Saturday. A moderate flood peak at Kialla may occur during Saturday morning.
Tamsin Rose
NSW police seeking to arrest property developer Jean Nassif
Detectives want to hear from anyone who might know where controversial Sydney developer Jean Nassif is after warrants were granted for his arrest in relation to an alleged “large-scale fraud”.
Organised crime squad detective Superintendent Peter Faux on Friday said NSW police did not know where Nassif was but did not believe he had been in Australia for some months.
Faux said:
Yesterday we applied for arrest warrants in relation to Mr Jean Nassif and those arrest warrants have been granted and we’re here today in relation to seeking assistance in relation to the whereabouts of Mr Nassif or if he wants to come forward and speak to detectives.
He said offices were “unsure in relation to his exact whereabouts” but would have conversations with any foreign government or international police force if they knew where he was.
Warrant issued for the arrest of controversial Sydney property developer Jean Nassif. Detective Superintendent Peter Faux says: “Mr Nassif, we have the arrest warrant for your arrest. We encourage you to come forward and speak to detectives at the earliest convenience.” pic.twitter.com/ijbEKYVgY6
— Tamsin Rose (@tamsinroses) June 9, 2023
Albanese insists government will not alter stage-three tax cuts at next election
Albanese is insisting the government is keeping the stage-three tax cuts in their current form despite Clennell’s scepticism. Clennell:
You’ve committed – at the moment – to keep stage three tax cuts in their current form. Sometimes it doesn’t feel like your heart’s really in it.
(That also get a laugh from the audience.)
Albanese:
I said very clearly, at the time we tried to amend those tax cuts. We tried –
Clennell:
Now you’re in government.
Albanese:
We are. I’ve noticed.
(More laughs from the audience)
Clennell:
So why does it matter what you did in opposition?
Albanese:
And I’m glad you’ve noticed too. So we legislated –
Clennell:
There’s a theory you’ll take it to the next election altering it. That’s not going to happen?
Albanese:
We’ve said that we haven’t changed our position.
Albanese: the cheapest form of new energy is renewables
On energy, the PM is expressing his frustration at the previous government’s decade of inaction.
Albanese:
How is it that Snowy 2.0 is not connected to the grid? What is the point of doing a massive project like that, that isn’t plugged in?
I mean it’s absurd and we are having to deal with a decade of inaction where you had $4m for a new coal-fired power station study to the proponents at Collinsville in Queensland. No one thought that was going to go ahead.
There’s nothing to stop someone going out there and investing in a new coal fired power plant except reality, except the market – and the market tells you the cheapest form of new energy is renewables.
Albanese: ‘we need increased density along transport corridors’
When the conversation moves to the housing crisis, the PM continues to express his frustration with the Greens who the government is yet to reach an agreement with to gain support for their housing future fund.
Albanese accuses the minor party of hypocrisy on this issue:
Now you can’t address housing issues like overnight. It takes time, but the big issue we all know is supply.
And some of the hypocrisy it must be said of the Greens political party is that they’ve never seen a medium-density development, let alone a high-density development that they wanted to support.
And we need to address those issues. We need increased density along transport corridors. They are things that we need reform on.
Albanese went on to describe the approvals he’d made in his own electorate:
I’m not for ‘let it rip’ bad developments in inappropriate locations, but you can have increased density particularly along transport corridors, I’m on the record of doing so in my own electorate consistently.
Albanese corrects Laura Jaye’s suggestion he’s halfway through his first term, the PM says it’s only one year in.
I’m not contemplating an early election.
PM begins live panel discussion on Sky News
The live panel discussion portion of the event is now kicking off, with PM interviewed by Sky News’ political editor, Andrew Clennell.
Clennell begins:
So you’ve had 11 interest rate hikes since you’ve become PM.
Albanese:
Good start Andrew.
(That gets a laugh from the audience.)
The PM goes on:
I’m very positive and optimistic about the future.
You forgot that there was one beforehand.
… Interest rates were never going to stay at 0.1%. That was never going to happen.
He acknowledges the rate rises are placing financial pressure on Australians, especially mortgage holders, but maintains he is optimistic.
PM: ‘I feel great confidence in our nation’
Albanese continues on an optimistic note, pointing to the opportunities posed by renewable energy, technology and growing the care economy.
He ends on Labor values.
The how matters, enduring economic reform depends on bringing people along in the journey … what counts is returning the productivity gains to the employers, but also the workers … to improve living standards … fairer wages, and a better quality of life.
This is how we create a growing productive economy that works for people, not the other way round … I feel great confidence in our nation.
PM calls for regulations to be updated ahead of AI advances
Albanese says the government needs to focus on safety to improve cyber security, making sure there’s “guidance and support” to help businesses navigate privacy concerns and growing risks over AI.
There is huge potential here for productivity gains … for transformative advances … but of course there’s an element of risk as well.
He says rules and frameworks need to be updated in light of the rapidly moving artificial intelligence sector.
Albanese calls for businesses to strategically adopt new technologies and for government to guard against risks
Albanese says we should always be mindful of efficiencies but in the decade ahead, bigger thinking is needed – particularly in technology and innovation.
The economic change under way is far bigger than this. The way we share technology will be absolutely critical … we need to think about ways technology can empower workers, freeing people up from the routine parts of their job … and giving them back that time to focus on producing and caring and innovating.
He says productivity gains can be achieved if businesses adopt new technologies “earlier, more widely … and strategically”, calling for leadership from the sector while also pointing to the government’s role.
Government has a key role to play in maximising the potential benefits and guarding against risks.
Prime minister says Australia is well-placed to meet global economic challenges
Albanese points to the global economic outlook, which is projecting tight financial conditions.
Australia is not immune to any of these challenges but we are extremely well placed.
He points to Australia’s investment in clean energy as a buffer which will create new export markets and ensure the nation can not only “sustain but grow” large-scale energy projects while cutting emissions.
In order to ensure this growth is sustained and shared over the long term, Australia needs to lift our game on productivity … our economic task is not just to clear away the waste and strengthen the budget, it’s to modernise the economy.
This is where, as a country, we need a smarter and more strategic approach to productivity instead of the self-defeating model that says workers should be expected to do more with less.
PM: Labor is ‘working with business, not holding it back’
Albanese says in many fields, business has been ahead of government and now Labor is “working with business, not holding it back”.
He says the government is looking to work with states and territories, “not pick fights with them”.
All of us have an interest in building a stronger economy.
Albanese: ‘if we drag our feet or turn our backs, the future will shape us’
Albanese says there is a moment in Australia the nation “cannot afford to miss”, and says for the first time “in a long time” the economy is breaking new ground.
He says he’s proud during his first term in office there have been record levels of workforce participation, including a record number of women in full-time work.
We are not in government to simply occupy the space. Our purpose and our focus is to support people while building Australia’s long-term prosperity.
We approach this task with optimism and urgency … driven by the understanding if we drag our feet or turn our backs, the future will shape us.
Albanese on budget: ‘phrase we used most was getting the balance right’
Albanese says in “all the discussions my colleagues and I had when putting together the budget, the phrase we used most was getting the balance right”.
Getting pressure off families without putting it on inflation, providing meaningful help for those doing it tough while ensuring made responsible choices … and be able to forecast first surplus in 15 years.
He points to the “big overarching ever-present balance you have to get right in government – dealing with the pressing challenges of the here and now while never losing sight of the future”.
Albanese lists off the immediate term support in the budget, a cost of living package, tripling medicare bulk billing incentive, cutting medicine costs, energy bill relief, modest increases to jobseeker and rent assistance and, “close to my heart”, a parenting single payment increase as well as investment in childcare.
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