PM TO UPDATE INDON PACT; MINES PAYDIRT

Australia, Indonesia settle on new security treaty

Australia and Indonesia have agreed on a new bilateral security treaty, after talks in Sydney between leaders, Prime Minister Anthony Albanese and President Prabowo Subianto. The treaty commits Australia and Indonesia to consult on a regular basis on matters of security to identify and undertake “mutually beneficial security activities.” Under the treaty, if either or both countries’ security was threatened, the two nations would consult and consider measures to deal with the threats. Mr Albanese said he hoped to travel to Indonesia in January to formally sign the new treaty, after it goes through respective domestic processes. The new treaty builds on a landmark security agreement signed 30 years ago and reaffirms the 2006 Lombok Treaty and last year’s Defence Cooperation Agreement.

Wong plays down Russian links to new pact

Meanwhile, Foreign Minister Penny Wong has veered away from assessing the impact of Indonesia’s links with Russia on the proposed security treaty with Australia. In a media interview, Senator Wong said Australia recognised that Indonesia’s relationships with Russia stretched back to the 1960s. She sidestepped questions that Australia should consult with Indonesia if it expanded its cooperation with the US, or that Indonesia should consult Australia if it expanded its cooperation with Russia. The Minister said the Indonesian security agreement was a “different type of relationship” that involved much more cooperation and consultation.

Mining employees top median income ladder

Employees in the mining sector have the highest median employment income in Australia, earning almost $150,000 a year, according to the latest official figures. The Australian Bureau of Statistics figures for 2022-23 show that mining employees’ median employment income easily outranked that of the next highest industry group, the electricity, gas, water and wastewater sector, with $105,000 median income. Across the nation, earners aged 45-54 had the highest median income (almost $81,000); on an interstate comparison, the Australian Capital Territory recorded the highest median total income, and Tasmania the lowest. For almost 80 per cent of people, employee income was the main source of income, while investment income was the main source for almost 12 per cent of Australians.

Tasmanian unemployment rate lowest in nation

Australia’s jobs market has remained buoyant, with the seasonally adjusted monthly unemployment rate falling from 4.5 per cent to 4.3 per cent in October. According to the Australian Bureau of Statistics, the jobless rate has been under five per cent for almost four years. In the latest figures, the monthly rate of underemployment – reflecting people who want to work more hours – fell from 5.9 per cent to 5.7 per cent. In October, Tasmania recorded the nation’s lowest rate of unemployment, at 3.9 per cent, but the highest rate of underemployment (6.7 per cent). The Northern Territory, however, recorded the nation’s highest rate of unemployment (5.2 per cent) but the lowest rate of underemployment (3.5 per cent).

New legislation flagged to target NDIS fraud

National Disability Insurance Scheme (NDIS) Minister Jenny McAllister has foreshadowed further legislation to improve the integrity and safety of the scheme, with a stronger penalty framework to crack down on fraud. Senator McAllister said there was more work to do in getting rid of “bad actors’ who threatened the integrity of the NDIS. In a prepared address, the Minister told a forum that the legislation would expand the NDIS Commission’s power to issue banning orders against auditors and consultants. It would also be empowered to issue anti-promotion orders to restrict unscrupulous providers from promoting products or services that undermined the integrity of the $50 billion NDIS. Senator McAllister said the NDIS was a disability support scheme, not a get-rich-quick scheme.

Keogh talks up boost to ADF personnel

Minister for Veterans' Affairs and Defence Personnel Matt Keogh has brushed off claims that the Australian Defence Force (ADF) was conducting an austerity drive in order to fund the AUKUS program. Mr Keogh said the Federal Government had invested in the Defence Force, to ensure it had human capability across a range of domains, including nuclear-propelled submarines, land, cyber and space. He refuted media questions that staff numbers were being cut on sustainment programs in the Air Force and that staff were being redeployed to lower costs. He said the level of military recruitment in 2024 was the highest in 15 years, while the separation rate from the ADF was now below the long-term historical average.