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ABC NewsMail - Afternoon Edition

ABC News
NewsMail Afternoon Edition
Thu 01 Aug, 2013

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Bank shares fall amid speculation of bailout levy

Shares in Australia's big four banks have plunged amid reports the Federal Government wants to introduce a levy on lenders to help fund any future bailouts.

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The Drum

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Ciggie stardust: is this really a win-win dash for cash?

A tax grab conducted from the safest altitude of all - the moral high ground. What's not to love?

In truth, though, you can't have a tobacco tax increase that is both a successful public health initiative and a robust ongoing source of revenue.

The long-term success of either purpose is entirely predicated on the failure of the other; either you eliminate smoking altogether, in which case no revenue, or you continue coining it for generations, in which case people continue to die with cancer.

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Just In

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Qld unlikely to join federal school plan before election

The Queensland Government denies it is being uncooperative in negotiations with the Commonwealth on the Better Schools funding plan.

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World

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Twins for parents whose triplets died in fire

The New Zealand parents of triplets who died in a fire at a Qatar shopping mall last year have announced the birth of their twins.

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Business

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Bank shares fall amid speculation of bailout levy

Shares in Australia's big four banks have plunged amid reports the Federal Government wants to introduce a levy on lenders to help fund any future bailouts.

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Politics

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Mixed reaction to proposed cigarette tax hike

ABC News readers have their say on plans to increase taxes on cigarettes over the next four years.

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Sport

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Hird denies chasing undetectable testosterone cream

James Hird has denied allegations he spoke to a doctor about an undetectable testosterone cream for the Bombers.

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Science and Technology

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Dead whale washes up covered in 'shark bites'

A ranger said a dead whale washed up on a South Australian beach was covered in shark bites.

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Environment

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Sea Simulator aquarium targets coral killers

A Queensland-based "sea simulator" that enables scientists to study the long-term effects of ocean warming, water acidification and dredging, has been welcomed by scientists.

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ABC NewsMail - Morning Edition

ABC News
NewsMail Morning Edition
Thu 01 Aug, 2013

Top Stories

More Top Stories »

Smokers slugged in Government's plan to raise $5.3 billion

The Federal Government is set to raise more than $5 billion over the next few years by increasing the tax on cigarettes.

Under the plan to be announced today, tobacco excise will rise by 12.5 per cent each year over the next four years, starting on December 1.

By 2016, it will mean a packet of 20 cigarettes will have gone up more than $5.

Treasurer Chris Bowen says the tax increase makes sense as it will help deter young people from taking up smoking as well as provide revenue for the budget.

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The Drum

More Analysis »

What's really driving our panic over asylum seekers?

Conventional progressive shorthand sees the political obsession with asylum seekers as a dog whistle to race politics.

But to pass asylum politics off as disguised racism is both flattering to the foetid little rump of true Australian racists and an underestimation of the issue's broader impact: as both a proxy for all manner of uncertainties and policy failures and as a distraction from them.

The boat debate can be taken at face value but it also speaks to ill-defined unease in the electorate and goes some way to absolving government of responsibility for the policies that might address them.

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Just In

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Soldiers escape suspension over Facebook comments

The Australian Defence Force says no soldiers from Townsville in north Queensland will be suspended over derogatory comments about Townsville women posted on several social media sites including Facebook.

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World

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Snowden reveals online tracking system used by US

New revelations from former security contractor Edward Snowden that US intelligence agencies have access to a vast online tracking tool have come to light, as lawmakers put secret surveillance programs under greater scrutiny.

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Business

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Business Council wants audit on how taxpayer money is spent

The Business Council of Australia has released an economic action plan urging government to comprehensively audit how taxpayer money is prioritised and spent.

The 93 recommendations include reforms to taxation, workplace relations, regulation and federal-state relations.

"We believe that it is time to review the whole of government in terms of its expenditure, the value we get out of it and, more importantly, what we can afford," BCA president Tony Shepherd told the ABC's AM program.

More »

Politics

More Politics »

Smokers slugged in Government's plan to raise $5.3 billion

The Federal Government is set to raise more than $5 billion over the next few years by increasing the tax on cigarettes.

Under the plan to be announced today, tobacco excise will rise by 12.5 per cent each year over the next four years, starting on December 1.

By 2016, it will mean a packet of 20 cigarettes will have gone up more than $5.

Treasurer Chris Bowen says the tax increase makes sense as it will help deter young people from taking up smoking as well as provide revenue for the budget.

More »

Sport

More Sport »

Hird piloted Bombers' supplements scandal: Robinson

Dean Robinson alleges Essendon coach James Hird drove the club's controversial supplements regime in 2011.

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Science and Technology

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Australia's largest super computer unveiled in Canberra

The nation's most powerful computer has been unveiled at the Australian National University in Canberra.

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Environment

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Microbeads used in beauty products found in Great Lakes

Tiny plastic beads commonly found in beauty products are showing up in North America's Great Lakes, sparking concerns for the health of the world's largest surface freshwater system.

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This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced.


Australian Broadcasting Corporation, 700 Harris Street, Ultimo NSW 2007
© 2013 ABC | Conditions of Use | Privacy Policy | Discover other ABC Email newsletters
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