The Loop: Treasurer warns of ‘disastrous’ budget situation, new Department of Labor sworn in and a community’s farewell to ‘the waving man’
Hello It’s Wednesday, June 1. Here’s what you need to keep up to date with today’s news.
One thing to know
It’s about the economy.
Treasurer Jim Chalmers said Australia’s economic forecast was worse than his new government had anticipated, calling the situation a “catastrophe”.
Australia’s economy grew 0.8% in the March quarter and 3.3% over the past year, beating economists’ forecasts.
But Mr Chalmers said many other critical parts of the economy, such as investment and consumption, are weaker than expected and rising energy prices pose new challenges for the national budget.
Here is the treasurer:
“In terms of energy in particular, this is an incredibly challenging set of circumstances, particularly for Australian industry when you consider this spike in gas prices, which goes hand in hand with the spike liquid fuel prices and soaring electricity prices too.
“Unfortunately, this is a perfect storm of conditions and challenges in our energy market.
We have heard a lot about the new ministry
Prime Minister Anthony Albanese’s new ministry was sworn in at a ceremony at Government House in Canberra today.
Women will hold 10 of 23 cabinet posts, a record for any Australian government, but less than the 50-50 split she held in the Labor Party’s shadow cabinet.
The ministry also includes the first Muslim ministers in Australian history, namely Minister for Industry and Science, Ed Husic, and Minister for Early Childhood Education and Youth, Anne Aly.
The Prime Minister described the new ministry as “as inclusive as Australia itself”.
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One more thing
Peter Van Beek was known around Buderim as “the agitating man”.
For at least half a decade he stood at one of Queensland’s busiest suburban roundabouts with a beaming smile and an enthusiastic wave to morning and afternoon commuters.
The 88-year-old died peacefully in his sleep this week, and it sparked an outpouring of grief and sadness within the Sunshine Coast community.
Here are some of the memories people shared:
Teenager Jorja Robertson said the interaction with him during the morning commute was a highlight.
“People were always sharing stories at school about ‘Who saw Peter this morning?’ she says.
Friend Angela Britz said he “made his day” to get out and greet people, “rain, hail or shine.”
“He knew it made everyone’s day something special.”
“His cheerful smile and kind manner, I believe, was one of the reasons why so many of our students and staff walk into the college grounds with a smile every day,” Trudi Edwardssaid the headmaster of the nearby primary school.
Mom Buderim Kirsten Bud said the drive to school had been “a little less magical lately”.
“Even a statue or renaming that roundabout – you have to recognize he was a very special person.”
That’s all for the moment
We will come back tomorrow with more.