{STORE}AUSTRALIA – POLITICS AND GOVERNMENT

Chalmers faces $11b budget hole

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Original article by Michael Read
The Australian Financial Review – Page: 1 & 6 : 21-Oct-26

The recent rise in bond yields will add to government borrowing costs, which was not factored into the federal or state budgets for 2026. The federal Treasury had already forecast a $64.1bn headline budget deficit for 2026-27 prior to the increase in bond yields, and the government will have to achieve some $11bn worth of spending cuts to prevent a much larger deficit. Treasurer Jim Chalmers recently advised that the upcoming mid-year budget update will include a savings package. HSBC’s chief economist Paul Bloxham says the government should consider reducing off-budget spending, which is forecast to exceed $32bn in 2026-27.

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AUSTRALIA. DEPT OF THE TREASURY,{STORE}HSBC AUSTRALIA HOLDINGS PTY LTD

Labor’s gas scheme needs clarity

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Original article by Colin Packham
The Australian – Page: 13 & 19 : 21-Oct-26

Origin Energy’s CEO Frank Calabria says the group supports a domestic gas reservation scheme that will provide a durable framework for the Australian market. However, he says the federal government must clarify some details of its proposed scheme, including how its plans to force LNG producers to sell up to 20 per cent of their output to the domestic market will work during periods when there is sufficient supply of gas. Australian Energy Producers CEO Samantha McCulloch has in turn warned that the forced-sale requirement could prompt some gas producers to exit the domestic market.

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ORIGIN ENERGY LIMITED – ASX ORG,{STORE}AUSTRALIAN ENERGY PRODUCERS

Charges laid against man accused of attacking Federal MP Helen Haines

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Original article by Shelby Brooks
The Age – Page: Online : 21-Oct-26

The 43-year-old man who was allegedly responsible for the vehicular attack on independent federal MP Helen Haines will face three charges when he appears before the Wangaratta Magistrates’ Court today. Brendan Nugent has been charged with dangerous driving causing injury, intentionally causing injury and causing harm to a Commonwealth public official. Police allege that the incident was a targeted attack; it is believed that they were not able to interview Nugent on Monday night because he was still under the influence of drugs or alcohol. Haines sustained life-changing injuries and remains in a critical condition; she has lost one leg, and surgeons are trying to save her other leg.

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