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Thu 24 Apr, 2014

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Hockey warns of crisis without tough measures to cut budget spending

Treasurer Joe Hockey has warned next month's federal budget will introduce tougher means testing of support payments and more upfront costs for government services.

Speaking in Sydney last night, Mr Hockey began to unveil the findings and recommendations of the Government's much-anticipated Commission of Audit, which the Government is using to frame the May 13 budget.

Mr Hockey says the report makes it clear the nation has "a serious spending problem" and recommends "substantial spending restraint".

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The Drum

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Why must a war define us?

It's strange that we favour Gallipoli as a national starting point over the diligent, purposeful blue sky thinking of the men who actually stitched our disparate colonies into one at federation.

Why dwell on the courage of war over the quieter guts it took to clear a block of bush by hand and raise and feed a family from the stumpy soil?

A more mature country might call war a dead end, a source of little more than regret. It's perhaps a sign of our lingering callowness that we call it a starting point.

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Just In

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Neville Wran state funeral date set for May 1

Former New South Wales Labor premier Neville Wran's state funeral will be held on May 1 at Sydney's Town Hall.

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World

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Bieber apologises for visiting Japan war shrine

Justin Bieber has apologised and insisted he loved Japan and China after he stepped into a bitter fight over history by visiting a controversial war shrine in Tokyo.

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Business

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Inflation within target takes pressure off Reserve Bank

Inflation has remained within the Reserve Bank's 2-3 per cent target, taking pressure off the RBA to consider early rate rises.

Economist forecasts had centred on a consumer price rise of 3.2 per cent in the year to the end of March, but the Bureau of Statistics figures show inflation was 2.9 per cent over that period.

Prices rose just 0.6 per cent in the quarter, below an expected 0.8 per cent, with much of the increase due to seasonal factors.

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Politics

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Neville Wran state funeral date set for May 1

Former New South Wales Labor premier Neville Wran's state funeral will be held on May 1 at Sydney's Town Hall.

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Sport

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Mariners out of Asian Champions League

The Central Coast Mariners were knocked out of the Asian Champions League after a 1-0 loss to Sanfrecce Hiroshima.

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Science and Technology

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Chemo researchers 'discover immune cells on/off switch'

Queensland researchers say they can put key immune cells to sleep during chemotherapy, and wake them when they are needed to fight infection.

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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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