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Tim Wilson says it is a \u2018devastating day\u2019 for Australian households<\/p>\n
Now we hear from the shadow treasurer, Tim Wilson, speaking live from Melbourne.<\/p>\n
He calls it a \u201cdevastating day for Australian households\u201d and says:<\/p>\n
double quotation markAnd even more devastating, the only response the Albanese government seemed to have in the face of increased market prices, increased petrol prices and increased interest rates, is to see where they can add more taxes on Australian households.<\/p>\n
Share<\/a><\/p>\n Updated at\u00a000.39 EDT<\/p>\n Chalmers says \u2018pressures are real\u2019 on Australians and \u2018more savings\u2019 to be delivered in May budget<\/p>\n The treasurer, Jim Chalmers, is speaking live from Canberra.<\/p>\n He acknowledges the RBA decision to raise interest rates by 25 basis points to 4.1% comes in the face of \u201csubstantial global economic volatility and uncertainty\u201d.<\/p>\n He says:<\/p>\n double quotation markThe main point from this decision is that we know we had an inflation challenge already in our economy. Developments in the Middle East are already making that challenge harder rather than easier \u2026<\/p>\n We say to Australians around the country who are hearing about this news of an interest rate increase, who are dealing with some of these global pressures at the petrol bowser, that we know that those pressures are real and that we will do what we responsibly can to respond to them.<\/p>\n We take into consideration the pressures on people, the economic circumstances \u2026<\/p>\n I\u2019m going to get into this in some detail on Thursday at the Australian Business Economists, because that\u2019s an important factor in these considerations and in the government\u2019s work.<\/p>\n I meant it when I said there\u2019ll be more savings in the budget in May.<\/p>\n Jim Chalmers speaks at Parliament House in Canberra. Photograph: Lukas Coch\/AAPShare<\/a><\/p>\n Updated at\u00a000.35 EDT<\/p>\n That\u2019s all from me. Ima Caldwell will take things from here. Enjoy your arvo!<\/p>\n Share<\/a><\/p>\n NSW expands free access to Japanese encephalitis vaccine<\/p>\n NSW Health will expand free access to the Japanese encephalitis vaccine for people who plan to visit high-risk local government areas for outdoor recreation.<\/p>\n People living or working in eight extra LGAs will now be eligible to access the free vaccine, including Armidale, Ballina, Bathurst, Byron, Oberon, Tweed, Walcha and Yass Valley.<\/p>\n Vaccination is also now available until the start of winter for anyone in the state who plans to visit any defined high-risk LGAs<\/a>.<\/p>\n Japanese encephalitis is a rare but serious illness spread by infected mosquitoes. Infection only causes mild illness for many people, but for some it can cause severe neurological symptoms and, in rare cases, can be fatal.<\/p>\n There is no specific treatment, so prevention is the main target of health initiatives.<\/p>\n Share<\/a><\/p>\n Updated at\u00a000.07 EDT<\/p>\n More on the RBA\u2019s decision<\/p>\n Australia\u2019s RBA was the only central bank expected to hike so soon, with its counterparts in the US, UK, European Union, Japan, Canada, Switzerland and Sweden all expected to leave rates on hold this week.<\/p>\n Even before the US and Israel struck Iran, Australian inflation had been elevated at 3.8% \u2013 well above the Reserve Bank\u2019s 2-3% target.<\/p>\n The economy has been growing at its fastest pace in almost three years and unemployment has fallen since September.<\/p>\n The week before the decision, predictions of a rate hike firmed when the central bank\u2019s deputy governor, Andrew Hauser, said data had \u201cconfirmed even more decisively \u2026 that our economy currently has limited spare capacity\u201d.<\/p>\n Some economists, though, had warned the RBA needed to leave interest rates on hold for fear of a downturn in consumer spending.<\/p>\n Read more here:<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.49 EDT<\/p>\n RBA hikes official interest rate to 4.1% The Reserve Bank has increased interest rates amid a global energy shock that threatens to push Australian inflation towards 5%.<\/p>\n The hike takes the RBA\u2019s cash rate target from 3.85% to 4.1%, back to where it was in February 2025, wiping out the relief offered by two cuts last year.<\/p>\n Household budgets, already under pressure after a rate rise in February and soaring petrol prices, will face higher mortgage costs.<\/p>\n Someone with a $600,000, 30-year mortgage will see their weekly repayments rise by another $95 a month, once their bank passes the hike on.<\/p>\n The Reserve Bank of Australia headquarters in Sydney. Photograph: Bianca de Marchi\/AAPShare<\/a><\/p>\n Updated at\u00a023.33 EDT<\/p>\n Victorian premier pushes plans to ensure fuel stability across the state The Victorian premier, Jacinta Allan, also held a press conference at parliament this morning, alongside consumer affairs minister, Nick Staikos, to announce a plan to ensure fuel stability across the state.<\/p>\n She said last week the government\u2019s daily fuel price caps came into effect to prevent price-gouging\ufeff at the pump. So far, she said Consumer Affairs Victoria has carried out 289 inspections to ensure all petrol stations complied with reporting their fuel prices, finding 23 unregistered stations and 16 that were not reporting.<\/p>\n Jacinta Allan. Photograph: Jay Kogler\/AAP<\/p>\n Allan announced an additional $4.6m will be provided to Consumer Affairs Victoria to carry out more inspections, while the agency will also immediately begin handing over the data it gathers to the ACCC.<\/p>\n The premier also convened an emergency cabinet subcommittee, which met last night to monitor the fuel supply situation. She says she will also chair an industry forum this afternoon with fuel suppliers, business groups and agricultural representatives to understand the situation on the ground and outline the actions the government could take.<\/p>\n The government has also established an \u201cenergy controller\u201d position at the State Control Centre.<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.30 EDT<\/p>\n RBA decision in 15 minutes<\/p>\n We\u2019re expecting an interest rate decision from the RBA in about 15 minutes. We\u2019ll bring you the news as soon as it happens.<\/p>\n Share<\/a> The press conference follows the release of a video of members of Liberal party <\/a>competing in the \u201cGames that Victoria never hosted\u201d, which has gone viral on social media.<\/p>\n The premier, Jacinta Allan, described the video as \u201cpetty politics\u201d but Wilson said her MPs were \u201ccommunicating and meeting Victorians where they are\u201d. She said:<\/p>\n double quotation markWe know that Victorians think this state is headed in the wrong direction, and what I\u2019m committed to is making sure that we\u2019re communicating on every platform \u2026 So it\u2019s my job to highlight that and to make sure we\u2019re communicating that across different platforms.<\/p>\n Brad Battin, the party\u2019s spokesperson for sport, also confirmed he doesn\u2019t usually bicep curl 20kg:<\/p>\n double quotation markAll my friends at the gym will tell you, no, I don\u2019t normally lift 20 kilos, but I wasn\u2019t going on TV lifting 10.<\/p>\n Share<\/a><\/p>\n Updated at\u00a023.12 EDT<\/p>\n Victoria Liberals say regions missed out after Commonwealth Games cancelled<\/p>\n The Victorian Liberals held a press conference outside the MCG this morning to mark what would have been the day of the opening ceremony of the Commonwealth Games, had the state government not cancelled them.<\/p>\n The Games \u2013 which would have been hosted in regional Victoria \u2013 were first announced by then premier Daniel Andrews in 2022, ahead of the state election, before he cancelled them in 2023, costing the state almost $600m.<\/p>\n The opposition leader, Jess Wilson, says Labor had made a \u201chollow promise\u201d they \u201cnever intended to deliver\u201d. She said:<\/p>\n double quotation markThe consequences isn\u2019t just the $600m, the opportunity cost of that and the $200m that has gone to Glasgow to host these games. But it\u2019s the regional communities that are missing out \u2013 missing out on the sporting infrastructure, missing out on the housing infrastructure.<\/p>\n James Newbury, Brad Battin and Jess Wilson speak to media at Yarra Park near the MCG in Melbourne. Photograph: James Ross\/AAPShare<\/a><\/p>\n Updated at\u00a023.15 EDT<\/p>\n Conservation groups call for LNG levy<\/p>\n Australia\u2019s state conservation organisations have called on the federal government to introduce a 25% levy on all Australian liquified natural gas exports. <\/p>\n They say the unfolding conflict in Iran is creating turbulence in energy markets, and multinational gas companies will profit, while everyday Australians face soaring energy bills.<\/p>\n The groups \u2013 which include the Nature Conservation Council of NSW, Environment Victoria, Queensland Conservation Council, Conservation Council SA, Environment Tasmania, the Conservation Council of WA, Environment Centre NT and the Conservation Council (ACT) \u2013 say the revenue raised could be used to provide compensation to Australian households and invest in the necessary transition to a renewable energy economy. <\/p>\n Jacqui Mumford, chief executive officer of the NSW Nature Conservation Council, said:<\/p>\n double quotation markFor decades, these companies have polluted our planet and contributed to the devastating climate disasters we are now facing. Now they are profiteering from a global energy shock.<\/p>\n Anthony Gough, acting director of the Queensland Conservation Council, said:<\/p>\n double quotation markThe logic is simple: polluters should pay for the damage they are causing. Households across Queensland are grappling with the double whammy of a summer of floods and a cost of living crisis, while fossil fuel companies rake in massive profits and send our gas overseas.<\/p>\n Share<\/a> NSW government undecided on expanding hate speech offences to protect LGBTQ+ community<\/p>\n The NSW premier, Chris Minns, says his government has not made a decision about expanding hate speech offences to protect the LGBTQ+ community, rejecting the idea he is \u201cbrushing under the carpet\u201d the recommendations of an unreleased independent review.<\/p>\n As we reported earlier, the NSW government is introducing measures to toughen penalties for hate crimes against the LGBTQ+ community and create a new offence for luring a person under false pretences in order to rob or violently assault them.<\/p>\n Today\u2019s changes raise the penalties for inciting violence against vulnerable groups, but do not make changes to a controversial offence \u2013 section 93ZAA of the NSW Crimes Act \u2013 for inciting hatred on the grounds of race, introduced last year against the recommendations of the Law Reform Commission.<\/p>\n A six-month independent review on whether it should be expanded to cover religion, gender identity and sexual orientation, authored by former supreme court justice John Sackar, was tabled in November, but the government has not released it. The Independent MP for Sydney, Alex Greenwich, who has welcomed the changes announced today, has called on the government to share the report and follow its recommendations.<\/p>\n At a press conference this morning, Minns would not say if Sackar recommended the expansion of 93ZAA to cover offences against the LGBTQ+ community. He said:<\/p>\n double quotation markWe haven\u2019t made a decision about it yet. The report\u2019s been to cabinet and I don\u2019t want to release before we make a call. Codifying vilification legislation is really difficult \u2026 primarily because it\u2019s a clash of rights, but we\u2019re considering it seriously and looking at the next steps. And I don\u2019t want the report released before we made a decision in relation to it, so it\u2019s not something that we\u2019re brushing under the carpet.<\/p>\n The NSW premier, Chris Minns. Photograph: Bianca de Marchi\/AAPShare<\/a><\/p>\n Updated at\u00a022.32 EDT<\/p>\n Stonewall Hotel, iconic queer Sydney venue, closes doors on Oxford Street<\/p>\n The Stonewall Hotel, a mainstay of Sydney\u2019s Oxford Street and the queer community, has closed its doors after 28 years. Craig Bell, a co-owner of the venue, said the move was a \u201csad and difficult decision\u201d after the hotel took over an empty bank nearly three decades ago and made \u201csomething truly special\u201d. An Instagram post announcing the decision reads:<\/p>\n double quotation markOver the years, we have employed wonderful people, connected with remarkable customers, and forged friendships that will last a lifetime. My sincere thanks go out to every one of you who contributed to our story.<\/p>\n It seems that nearly everyone you meet who knows Stonewall has a story to share, a tale to boast about, or a cherished experience linked to our venue.<\/p>\n Stonewall recently opened a new venue in nearby Newtown, saying:<\/p>\n double quotation markChange is constant, and Stonewall\u2019s story is far from over. The party will continue as we embrace our new home in Newtown, carrying forward the spirit and community that has defined us for so long.<\/p>\n Allow Instagram content?<\/p>\n This article includes content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. To view this content, click ‘Allow and continue’.<\/p>\n Share<\/a><\/p>\n Bowen won\u2019t speculate about fuel rationing, says the government working \u2018non-stop\u2019 to deal with supply issues<\/p>\n The energy minister added:<\/p>\n double quotation markI have said many times since the beginning of the bombing of Iran and the subsequent events, we can\u2019t guarantee that international times won\u2019t be uncertain. We can guarantee the government will be working non-stop to ensure we are as prepared as you possibly can be and that the impact on Australians and Australia is as little as it can be.<\/p>\n Every ship that we have expected to arrive has arrived, whether it is diesel, petrol or jet fuel. All the companies say to me that they fully expect deliveries into March and well into April but we are in internationally uncertain times.<\/p>\n Chris Bowen. Photograph: Paul Braven\/AAPShare<\/a><\/p>\n Updated at\u00a022.05 EDT<\/p>\n Energy minister urges Australians to only buy fuel they need<\/p>\n The energy minister, Chris Bowen, issued an urgent call for Australians to stop panic buying fuel, saying the country is well placed to weather the war in the Middle East but that the situation will only get harder if people hoard more than they need.<\/p>\n Bowen is speaking to reporters in Canberra, where he said:<\/p>\n double quotation markAs I\u2019ve said, what we want is Australians to buy as much fuel as they need, not more not less. That is the best answer for everyone.<\/p>\n Because the fuel continues to arrive in Australia, as expected, because the refineries are working very well \u2026 and supplying the regions as quickly as they can \u2026 if Australians respond in the spirit of all coming together, and not panic buying, then that maximises our chances of getting through this situation.<\/p>\n Panic buying does not help the situation, panic buying very much causes the situation. I completely understand the concerns of Australians who might be thinking, we will buy a bit of extra fuel. Separately, people going to Bunnings and buying out all the Bunnings jerry cans \u2013 that is unhelpful. That is unAustralian. If they\u2019re trying to maximise profits on Facebook marketplace \u2026<\/p>\n![\"Nick](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/Nick_Visser.png\")
Nick Visser<\/p>\n![\"Luca](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/Luca_Ittimani.png\")
Luca Ittimani<\/p>\n![\"Benita](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/1773722589_675_Benita_Kolovos.png\")
Benita Kolovos<\/p>\nBenita Kolovos<\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/Embed_loop_-_Vic_libs--7e32c122-ddec-41cf-b4d5-812ec0d5390e-3.0.0000000.jpg\")
The viral video that has everyone at Spring Street talking<\/p>\nBenita Kolovos<\/p>\n![\"Petra](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/Petra_Stock.png\")
Petra Stock<\/p>\n![\"Penry](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/1773722590_864_Penry_Buckley.png\")
Penry Buckley<\/p>\n
![\"Kelly](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/03\/Kelly_Burke.png\")
Kelly Burke<\/p>\n