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Fri 02 May, 2014

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Premiers, chief ministers to attend COAG meeting

Premiers and chief ministers have gathered for a COAG meeting in Canberra today, less than 24 hours after significant changes to federal funding were flagged in the Commission of Audit report.

The audit report made 86 recommendations to rein in the federal budget, including widespread spending cuts to government services and family payments, and handing the states greater responsibility for the health and education systems.

The audit report is not on the meeting's agenda, and Finance Minister Mathias Cormann is refusing to say which recommendations the Government will act on.

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The Drum

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Learn from history and heed audit's warning

The 86-point hit list outlined by the Commission of Audit yesterday shouldn't be dismissed, even if it does only focus on spending and ignores taxation.

Because while we may not be facing a debt problem or be in the throes of a crisis yet, we certainly will have a problem in the decades to come if we don't take remedial action right now.

The population of over 65s will balloon, and we squandered the mining boom during the Howard and Rudd years, so it's time to learn from history.

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Just In

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Couple extradited from Qld over woman's 'shipping container death' in Tasmania

A far north Queensland husband and wife have been extradited to face manslaughter charges over the death of an elderly woman in Tasmania.

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World

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Michelangelo's David at risk of collapse

Experts in Italy have warned one of the world's most famous statues, Michelangelo's David, is in danger of collapsing because it has weak ankles.

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Business

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Industry assistance and support for exporters in the crosshairs

Industry assistance and support for exporters and the tourism sector face the axe under proposals from the Commission of Audit, which also recommends Australia Post and the Royal Australian Mint be privatised.

The Commission of Audit's proposals to return the budget to a sustainable surplus would leave the business sector with a mix of winners and losers.

Most in the business sector acknowledge the need for Commonwealth budget repair while the economy is reasonably robust, and would applaud both of the commission's recommendations that Federal Governments target a 1 per cent of GDP surplus.

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Politics

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Arrest of Gerry Adams an attempt to undermine peace: McGuinness

Northern Ireland's deputy first minister, Martin McGuinness, says Sinn Fein leader Gerry Adams's arrest is a deliberate attempt by unidentified "dark" forces within the Police Service of Northern Ireland to undermine the peace process.

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Sport

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Senna remembered on 20th anniversary of his death

Fans and drivers returned to Imola to mark the 20th anniversary of the death of Formula One legend Ayrton Senna.

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Science and Technology

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Scientists look to past to beat antibiotic resistance

Australian scientists are looking to the past as they work to beat the increasing problem of antibiotic resistance.

Researchers at Monash University are not developing a new class of antibiotics, instead hoping to make an old one, Polymyxin, easier and safer to use.

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Environment

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Nyrstar smelter transformation getting SA Government guarantee

An agreement on a $385 million transformation of the Port Pirie lead smelter looks to be almost finalised, with operator Nyrstar confirming the South Australian Government will underwrite the project.

The current smelter is to be turned into a multi-metal recycling facility and a big environment improvement is expected for the regional city.

Belgian owner Nyrstar now has confirmed the redevelopment will go ahead once the funding package with Premier Jay Weatherill is finalised.

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