LABOR WINS BIG IN SA; BOOM TIMES IN WEST
Labor’s smashing victory in South Australia
Labor has been returned to power in South Australia, with a commanding election victory under first-term Premier Peter Malinauskas. On latest figures, Labor will hold around 35 of the 47 seats in the Legislative Assembly but is likely to fall short of a majority in the state’s Upper House. The Liberal Party will be reduced to single-figure Opposition numbers in the SA Lower House, as Labor swept through a host of former Liberal seats across Adelaide, grabbing up to seven seats. A clutch of Independents and One Nation candidates are on track to hold a handful of seats in regional and rural areas of SA. Labor has held office in South Australia for 20 of the last 24 years, with the Liberals last in government between 2018 and 2022.
WA heads national population growth rate
Western Australia has continued its reign as Australia’s fastest-growing state, with its population rising 2.2 per cent to hit three million people for the first time. Figures released by the Australian Bureau of Statistics (ABS) show that the nation’s population rose 1.6 per cent to 27.7 million in the 12 months to September 2025. New South Wales (8.6 million) and Victoria (7.1 million) remain Australia’s largest states. In the latest ABS figures, Tasmania recorded the lowest annual growth rate (0.3 per cent) in population, while net overseas migration accountedd for more than 73 per cent of the increase in national population.
Tax, savings and investment reforms flagged for Budget
Federal Treasurer Jim Chalmers has stepped up his pre-Budget offensive, flagging major spending cuts, tax reform and productivity investments in May. In a speech to business economists, the Treasurer said the May 12 Budget would focus on “ambitious reform packages” across the three priorities. Dr Chalmers said the delivery of more Budget savings would provide more room for the private sector to grow, while providing fiscal buffers. Productivity-enhancing reforms would boost supply and unlock investment, while tax reform would support budget sustainability and equity, and help to “rebalance the system”, he said.
Higher fuel prices not behind cash rate lift, says RBA Head
Meanwhile, Reserve Bank of Australia Governor Michele Bullock said a sudden spike in fuel prices was not the reason for the RBA’s decision to lift the cash rate to 4.1 per cent. Ms Bullock said that while higher fuel prices would add to inflation, the current rate of inflation was driven by demand outstripping supply. She said it was important that higher inflation did not raise expectations of increased inflation in the longer term.
Jobless rate edges up again
Unemployment in Australia is on the rise again, with the nation’s jobless rate edging up to 4.3 per cent, seasonally adjusted, in February. ABS figures recorded a rise from January’s rate of 4.1 per cent, after falling from 4.5 per cent in September. Of the states, South Australia registered the lowest rate of unemployment, at four per cent, while Victoria had the highest, at 4.7 per cent. The Australian Capital Territory, however, recorded an unemployment rate of 3.5 per cent, while the Northern Territory had a jobless rate of five per cent.
New expectations on data centres for power, water security
Data centres and operators of artificial intelligence infrastructure will be expected to underwrite new renewable power supply and pay their full share of connecting to the electricity grid, according to the Federal Government. Energy and Climate Change Minister Chris Bowen said a statement of expectations for data centres was designed to make it easier to invest in Australia. Five expectations would guide data centre development: prioritise national interest, support the energy transition, use water sustainably and responsibly, invest in Australian skills and jobs, and strengthen research, innovation, and local capability. Data centres would also be required to contribute to grid connectivity so that extra costs were not passed on to consumers or businesses. The framework of expectations was released with Industry and Innovation Minister Tim Ayres.