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Wed 23 Apr, 2014

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Australia to buy 58 more Joint Strike Fighters

Australia will buy 58 more F-35 Joint Strike Fighters at a cost of more than $12 billion after the Federal Government gave the go ahead for the purchase yesterday.

The extra aircraft will bring Australia's total JSF force to 72 aircraft, with the first of them to enter service in 2020.

The Government says it will also consider the option of buying another squadron of the next-generation fighter jets to eventually replace the RAAF'S F/A-18 Super Hornets.

As part of the announcement, more than $1.6 billion will be spent on new facilities at air bases in Williamtown in New South Wales and Tindal in the Northern Territory.

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The Drum

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Coalition banks on blind faith in budget 'fix'

At present Joe Hockey and Tony Abbott would prefer you just assume that "fixing the budget" will improve the economy without them actually having to demonstrate how.

Behind such talk is the implicit belief that ongoing deficits are bad for our economy, and the debt is a drag on our growth.

But the link between government debt and economic growth is pretty skint and we shouldn't confuse correlation with causation.

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Just In

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Ukraine president relaunches operation against rebels after 'brutally tortured' bodies found

Ukraine's acting president has ordered the military to resume an operation against pro-Kremlin separatists, after the "brutally tortured" bodies of two people, including a kidnapped local councillor, were discovered in the east of the country.

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World

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Ukraine president relaunches operation against rebels after 'brutally tortured' bodies found

Ukraine's acting president has ordered the military to resume an operation against pro-Kremlin separatists, after the "brutally tortured" bodies of two people, including a kidnapped local councillor, were discovered in the east of the country.

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Business

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Super tax breaks the 'Hindenburg' of federal budget

A left-leaning think tank says the federal budget would be more than $13 billion better off if the Government scrapped all tax breaks on superannuation and dramatically increased the age pension.

The radical proposal is contained in a report by the Australia Institute, which will be released today, and comes amid increasing speculation the Coalition is preparing to increase the retirement age to 70.

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Politics

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PM's chief business adviser backs Medicare co-payments

The head of the Prime Minister's Business Advisory Council, Maurice Newman, has backed the idea of Medicare co-payments.

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Sport

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Boxer gatecrashes Leapai media conference

The media conference for Wladimir Klitschko and Alex Leapai's world heavyweight title bout was gatecrashed in Germany.

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Science and Technology

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Gene test could boost breast cancer survival rate

A Queensland scientist has developed a new test that could help improve the survival rate for breast cancer patients.

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Environment

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National Water Commission under threat from budget cuts

The National Water Commission could be axed as part of the Federal Government's savings drive.

The decade-old commission, an independent statutory authority which advises the Commonwealth on water policy, is "in the mix" for cuts and AM understands it is likely to be wound up.

Scrapping the commission would save the Government about $30 million over four years.

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