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Millions of Aussies set for a payrise

<p>Millions of low-paid Australian workers will receive a wage boost from July 1, after the Fair Work Commission (FWC) announced a 3.5 per cent increase to minimum and award wages.</p> <p>The decision affects around 2.9 million workers and will lift the national minimum wage from $24.10 to $24.94 an hour – a weekly increase of nearly $32 for full-time employees.</p> <p>The FWC’s ruling strikes a middle ground between competing demands from unions and business groups. The Australian Council of Trade Unions (ACTU) had pushed for a 4.5 per cent rise, citing the need to help workers keep up with the cost of living, while employer groups including the Australian Chamber of Commerce and Industry had argued for a more modest 2.5 per cent hike.</p> <p>The 3.5 per cent rise is slightly below last year’s 3.75 per cent decision, but still exceeds the current annual inflation rate of 2.4 per cent. With the Reserve Bank forecasting inflation to rise to 3.1 per cent by mid-2026 as government energy subsidies wind down, the FWC’s decision offers workers a modest real wage increase.</p> <p>ACTU Secretary Sally McManus said the decision was a lifeline for workers living paycheque to paycheque. “When you’re on those wages, you’re not saving money. Everything you earn, you spend,” she said. “It’s about whether you can keep up with your bills or not, whether your life gets slightly better, stays the same, or goes backwards.”</p> <p>The ACTU had argued that sustained low wage growth in recent years had left many workers falling behind, and that the time had come for wages to catch up. McManus pointed to productivity improvements in sectors such as hospitality and retail – where many award-dependent workers are employed – as justification for a stronger rise.</p> <p>“The commission previously has said, ‘yes, these workers need to catch up, we’ve just got to wait for the right time’. We say now is the right time,” she said.</p> <p>But employer groups warned the decision will pile pressure on businesses already grappling with rising costs and weak consumer spending. The Council of Small Business Organisations Australia, representing many of the nation’s cafes, restaurants and retail stores, argued a 4.5 per cent jump could have triggered job losses or even business closures.</p> <p>“Anything higher than 2.5 per cent would place unsustainable pressure on small businesses, potentially leading to reduced employment opportunities, business closures, and broader economic harm,” the council said in its submission.</p> <p>The federal government stopped short of recommending a specific number, but called for a “sustainable” increase that would keep wages ahead of inflation without undermining economic stability.</p> <p>AMP chief economist Shane Oliver had forecast the 3.5 per cent increase, suggesting it would give workers a real wage gain without fanning the flames of inflation. “It strikes a balance between supporting household spending power and avoiding a wage-price spiral,” he said.</p> <p>While union leaders expressed disappointment that the rise wasn’t higher, the decision is broadly seen as a compromise designed to support both workers and businesses amid a fragile economic recovery.</p> <p><em>Image: Shutterstock</em></p>

Money & Banking

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Major bank announces huge home loan rate cut

<p>The Commonwealth Bank of Australia (CBA) will reduce its fixed-rate home loans by up to 0.40 percentage points across all terms starting Friday, following a 0.25 percentage point cut to its variable rate in response to the Reserve Bank of Australia’s (RBA) recent cash rate reduction.</p> <p>The new rates will see CBA’s lowest fixed offering set at 5.49% for a three-year term. Despite the move, experts say the cuts are unlikely to spark a surge in homeowners locking in their mortgages.</p> <p>Sally Tindall, data insights director at Canstar.com.au, said the rate adjustments bring CBA closer to its major bank competitors but aren’t enough to significantly shift consumer behaviour.</p> <p>“CBA’s fixed rate cuts aren’t groundbreaking, but rather a bid to inch closer to its key competitors,” Tindall said. “Fixed rates have been falling fairly consistently this year, and we expect this activity will continue as banks price in the increasing likelihood of further cash rate cuts.”</p> <p>While CBA’s new rates mark progress, rivals remain more competitive. ANZ holds the lowest one- and two-year fixed rates among the big four banks, while National Australia Bank (NAB) continues to offer the most attractive three-, four-, and five-year fixed terms.</p> <p>Tindall also noted that with only a slim margin – just 0.10 percentage points – between current fixed and variable rates, many borrowers will likely hold off from locking in.</p> <p>“With the possibility of further RBA cuts ramping up, it’s hard to see many people jumping at the chance to lock up their mortgage for the next three years,” she said. “The majors might have to offer a fixed rate in the ‘4’s’ if they’re serious about getting people to lock in.”</p> <p>Canstar’s latest data shows a flurry of activity across the lending sector since the RBA’s decision. Twenty lenders have reduced at least one fixed rate this month, and five major lenders, excluding CBA, have already made cuts.</p> <p>Among them, BOQ, Community First Bank, Police Bank and Queensland Country Bank now offer at least one fixed rate below 5%, setting the benchmark at 4.99%.</p> <p>Tindall urged borrowers to carefully consider their financial situation and risk appetite when deciding between fixed and variable rates. “If you’re deciding between a fixed or variable rate, understand what might suit your finances and, to some extent, your personality. When you make a decision, take the time to look for a competitive rate,” she said.</p> <p>While the trend suggests fixed rates will continue to fall, CBA's latest move clearly shows the intense competition in the home loan market – one that still leaves many Australians hesitant to commit.</p> <p><em>Image: Supplied</em></p>

Money & Banking

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A quarter of a billion dollars in unclaimed Medicare rebates: here's how to claim them

<p>More than a quarter of a billion dollars in unclaimed Medicare refunds are waiting to be returned to nearly a million Australians, with Services Australia urging people to check if they’re owed a share of the money.</p> <p>A staggering $260 million in Medicare rebates is currently unclaimed by 960,000 patients across the country. The unclaimed funds stem from GP and specialist visits where refunds were never processed due to incomplete or outdated bank account information.</p> <p>“You go to the doctor, you hand over your card and then you might not check what happens next,” said Justin Bott, community information officer at Services Australia. “Failing to follow up is what could be costing patients refunds they’re entitled to.”</p> <p>On a state-by-state basis, the figures remain eye-opening. Residents of New South Wales are owed $81 million, Victorians are missing $64 million, Queenslanders are due $51 million, Western Australians are entitled to $30 million, and South Australians could claim $19 million.</p> <p>The average unclaimed amount per person sits at around $265, but in some cases, individuals could receive over $10,000.</p> <p>One of the most affected demographics is young adults aged 18 to 25, who are often unaware of the need to update their details. The good news? The fix is simple. By logging into the MyGov portal and checking their Medicare account, Australians can update their bank details. Once updated, refunds are typically processed and deposited within three days.</p> <p>“It might not be you, but maybe it’s your child, your grandchild that has that money owing. Get them to check as well,” Bott urged. “Because again, what a great present to find that money being paid to them.”</p> <p>With hundreds of millions of dollars potentially just a few clicks away, Australians are being encouraged to act now and reclaim what is rightfully theirs.</p> <p><em>Image: Shutterstock</em></p>

Money & Banking

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How to get started investing later in life

<p>For some people – particularly women – investing may not have been an option until now, constrained by a lack of income while raising children or low incomes leaving nothing to invest once the bills were paid.</p> <p>Others find a new-found need to invest later in life, such as after a separation, inability to work through illness or injury, or the sudden death of their partner.</p> <p>No matter your reason for exploring investing later in life, the following pointers will get you on your way to building financial independence and a comfortable retirement.</p> <p><strong>Update your strategy</strong></p> <p>When was the last time you updated your spending and investment plan (or household budget)? It may have been before the kids left home, your mortgage was paid off, or you began transitioning into part-time retirement. </p> <p>If so, your living costs have changed significantly – work expenses, home energy consumption, groceries etc. Furthermore, your goals, healthcare and lifestyle needs may also have changed.</p> <p>Update your strategy to align with your current goals, values, income and spending habits. Only then will you understand how much you can afford to invest and where to direct those funds.</p> <p><strong>Right-size your superannuation</strong></p> <p>In your later years, super is likely to be front of mind. Ensure this investment works its hardest for you by scrutinising its:</p> <p>•<span style="white-space: pre;"> </span>Structure: retail or industry fund? SMSF? Each has its own costs and benefits to contemplate.</p> <p>•<span style="white-space: pre;"> </span>Investments: reexamine the types of assets held, level of diversification and risk weighting.</p> <p>•<span style="white-space: pre;"> </span>Insurances: do you have adequate life, permanent disability and income protection cover? </p> <p>•<span style="white-space: pre;"> </span>Take advantage of superannuation strategies you may not be aware of</p> <p><strong>Unlock home equity</strong></p> <p>The biggest source of money you likely have at this stage of life is equity in your home. </p> <p>This can be used to invest with minimal impact on your everyday finances. In fact, unused equity is effectively dead money (until you sell the property).</p> <p>I always urge caution on reverse mortgages. In theory, they seem like a great way of unlocking equity without saddling you with regular repayments. However, they typically:</p> <p>•<span style="white-space: pre;"> </span>accumulate more debt.</p> <p>•<span style="white-space: pre;"> </span>have higher interest rates than standard mortgages.</p> <p>•<span style="white-space: pre;"> </span>only grant access to a portion of your equity.</p> <p>•<span style="white-space: pre;"> </span>can restrict your options to downsize later.</p> <p>•<span style="white-space: pre;"> </span>could leave you with no remaining equity when you sell the property or nothing to leave to your benefactors when you pass away.</p> <p><strong>Consider downsizing</strong></p> <p>An alternative to refinancing is downsizing from the family home. </p> <p>As well as unlocking money for investing, you benefit from lower upkeep costs (and cleaning!) on a smaller property and can make a lifestyle change at the same time (moving nearer to family, away from bustling cities, or into supported care if required).</p> <p>Additionally, you may be able to use part of the sale proceeds (up to $300,000) to turbocharge your super with a one-off <a href="https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/how-to-save-more-in-your-super/downsizer-super-contributions" target="_blank" rel="noopener">downsizer contribution</a>.</p> <p><strong>Examine pension impacts</strong></p> <p>Investing can impact your ability to claim the age pension when you retire, and how much you receive. </p> <p>This often comes to bite people who unlock equity in their home to invest, without realising that doing so means the money suddenly counts towards the pension means test.</p> <p>Before doing anything, methodically weigh up which will leave you financially better off – claiming a full or part pension, or self-funding your retirement through investments.</p> <p><strong>Minimise tax</strong></p> <p>Hefty tax bills can easily wipe out any investment returns, making tax a crucial factor in your decision-making.</p> <p>Potential tax considerations to factor into your strategy include:</p> <p>•<span style="white-space: pre;"> </span>Determining the most tax-effective ownership structure (e.g. do you invest in your or partner’s name? Through your super? Through a trust or company?</p> <p>•<span style="white-space: pre;"> </span>Incorporating stamp duty into purchase costs.</p> <p>•<span style="white-space: pre;"> </span>Ensuring there is enough profit from the sale of an investment to cover Capital Gains Tax (CGT) and income tax liabilities before deciding to sell.</p> <p>•<span style="white-space: pre;"> </span>Timing a sale to fall within the optimal financial year (e.g. in a year where your taxable income is lower or when relevant tax changes come into effect).</p> <p><strong>Invest in knowledge</strong></p> <p>Later in life, you have fewer working years remaining to recover any losses. Given the far-reaching implications of investing, I highly recommend first speaking to a financial adviser.  Many times the fees are paid for in initial tax savings. </p> <p>They can help you maximise your returns, minimise your tax, ensure you don’t inadvertently leave yourself worse off and give you peace of mind.</p> <p>After all, the whole point of investing is to make money. And, without current professional advice, you simply don’t know what you don’t know!</p> <p><em>Helen Baker is a licensed Australian financial adviser and author of the new book, Money For Life: How to build financial security from firm foundations (Major Street Publishing $32.99). Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au/" target="_blank" rel="noopener">www.onyourowntwofeet.com.au</a></em></p> <p><em>Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754.</em></p> <p> </p>

Retirement Income

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"Keen to keep living": Hero professor's heartbreaking health update

<p>Professor Richard Scolyer, the <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">acclaimed melanoma researcher and former Australian of the Year,</span><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> has revealed a devastating update in his ongoing battle with brain cancer, announcing that his aggressive glioblastoma has progressed once again.</span></p> <p>Professor Scolyer, 58, was diagnosed in 2023 with the terminal form of brain cancer and initially given just eight months to live. Defying the odds, he has endured 18 months of life thanks to a groundbreaking experimental immunotherapy based on melanoma research – a treatment approach that has drawn global attention.</p> <p>However, in a candid social media post on Monday, Professor Scolyer confirmed that a recent MRI had shown further tumour growth on the left side of his brain.</p> <p>“While this may not be the best direction to be heading with my changes, amazingly (to me), I still seem keen to keep living, loving and having fun, whenever possible,” he wrote. “I feel like there are quite a few people on my team (including my family & friends) and they make me happy and proud.”</p> <p>Jointly named the 2024 Australian of the Year with fellow Melanoma Institute Australia co-director Professor Georgina Long, Scolyer has become known not only for his scientific leadership but for his openness and optimism in facing a terminal diagnosis.</p> <p>The most recent setback follows a recurrence of the cancer earlier this year, which led to surgery in March. While doctors were able to remove much of the tumour, Scolyer explained that microscopic “tentacles” remain, requiring further treatment.</p> <p>“Depending on what the scan shows … that will help choose what are the next forms of therapy that I can have to see where we need to go from here,” he said in a previous update.</p> <p>Despite ongoing physical and emotional challenges, Scolyer continues to cherish time with his wife, Katie, and their children.</p> <p>“Sometimes I’m happy to have fun, but some of the therapies have knocked me around a bit, so I can’t do some of the things I love doing,” he said. “I’m still having a fun time at home with my kids … and my beautiful wife Katie has been using her incredible intellect to help me speak to different doctors about various options.”</p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/DJ1JNz9zW8W/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/DJ1JNz9zW8W/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Prof Richard Scolyer AO - My Uncertain Path (@profrscolyer)</a></p> </div> </blockquote> <p>Looking ahead, Professor Scolyer anticipates another operation and remains hopeful that ongoing research and innovation may unlock new options for glioblastoma patients worldwide.</p> <p>“Fingers crossed this operation isn’t so bad and we can move forward with the next form of therapy,” he said, “and hopefully push things along faster to try and get things open up for many, many patients who have got glioblastoma.”</p> <p><em>Images: Instagram</em></p>

Caring

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RBA cuts interest rate - so what happens now?

<div class="theconversation-article-body"> <p>The Reserve Bank of Australia <a href="https://www.rba.gov.au/media-releases/2025/mr-25-13.html">cut the official interest rate</a> for the second time this year, as it lowered forecasts for Australian economic growth and pointed to increasing uncertainty in the world economy.</p> <p>The bank lowered the <a href="https://www.rba.gov.au/cash-rate-target-overview.html">cash rate target</a> by 0.25%, from 4.1% to 3.85%, saying inflation is expected to remain in the target band.</p> <p>All the big four banks swiftly passed the cut on to households with mortgages. This will save a household with a $500,000 loan about $80 a month.</p> <p>Announcing the cut, the Reserve Bank <a href="https://www.rba.gov.au/media-releases/2025/mr-25-13.html">stressed</a> in its accompanying statement it stands ready to reduce rates again if the economic outlook deteriorates sharply.</p> <blockquote> <p>The Board considered a severe downside scenario and noted that monetary policy is well placed to respond decisively to international developments if they were to have material implications for activity and inflation in Australia.</p> </blockquote> <h2>Inflation is back under control</h2> <p>The latest <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release">Consumer Price Index</a> showed that inflation remained around the middle of the Reserve Bank’s <a href="https://www.rba.gov.au/education/resources/explainers/australias-inflation-target.html">medium-term target band of 2-3%</a> in the March quarter.</p> <p>The Reserve Bank was also comforted by the underlying inflation measure called the “trimmed mean”. This measure excludes items with the largest price movements up or down.</p> <p>The bank noted that it has returned to the 2–3% target band for the first time since 2021. This suggests inflation is not just temporarily low due to temporary factors such as the electricity price rebates.</p> <p><iframe id="QQ6io" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/QQ6io/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <p>In February, Reserve Bank Governor Michele Bullock <a href="https://parlinfo.aph.gov.au/parlInfo/download/committees/commrep/28670/toc_pdf/Economics%20Committee_2025_02_21_Official.pdf;fileType=application%2Fpdf">conceded</a> the bank had arguably been “late raising interest rates on the way up”. It did not want to be late on the way down.</p> <p>Perhaps Bullock is being unduly modest. The central bank looks to have judged well the extent of monetary tightening. It did not raise interest rates as much as its peers, but still got inflation back to the target.</p> <p><iframe id="ZIcUE" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/ZIcUE/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <h2>Unemployment remains low</h2> <p>Last week, we got an <a href="https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia/latest-release">update</a> on the strength of the labour market. Unemployment stayed at 4.1%. It has now been around 4% since late 2023, a remarkable achievement.</p> <p>This is below the 4.5% the Reserve Bank had <a href="https://www.rba.gov.au/speeches/2019/sp-ag-2019-06-12-2.html">regarded</a> as the level consistent with steady inflation (in economic jargon, the <a href="https://www.rba.gov.au/education/resources/explainers/nairu.html">NAIRU</a>). But neither prices nor <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/wage-price-index-australia/latest-release">wages</a> have accelerated.</p> <p><iframe id="WYjUU" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/WYjUU/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <h2>Households and businesses may turn cautious</h2> <p>In its updated <a href="https://www.rba.gov.au/publications/smp/2025/may/pdf/statement-on-monetary-policy-2025-05.pdf">forecasts</a>, the bank sees headline inflation dropping to 2.1% by mid-year but going back to 3.0% by the end of the year, as the electricity subsidies are removed. By mid-2027, it will be back near the middle of the 2-3% target.</p> <p>Underlying inflation is forecast to stay around the middle of the target band throughout.</p> <p>The Reserve Bank cut its forecast for gross domestic product (GDP) to 2.1% by December, down from its previous forecast of 2.4% made in February. It said:</p> <blockquote> <p>Economic policy uncertainty has increased sharply alongside recent global developments, and this is expected to prompt some households to increase their precautionary savings and some businesses to postpone some investment decisions.</p> </blockquote> <p>The unemployment rate is expected to increase to 4.3% by the end of the year and remain there through 2026.</p> <p>Cost of living pressures look set to ease, as real household disposable income grows faster than population.</p> <p>As the Reserve Bank governor told a media conference on Tuesday:</p> <blockquote> <p>There’s now a new set of challenges facing the economy, but with inflation declining and the unemployment rate relatively low, we’re well positioned to deal with them. The board remains prepared to take further action if that is required.</p> </blockquote> <h2>Economic and policy ‘unpredictability’</h2> <p>The main uncertainty in the global economy is how the trade war instigated by US President Donald Trump will play out. <a href="https://www.washingtonpost.com/business/2025/05/14/trump-tariffs-china-trade/">According to one count</a>, he has announced new or revised tariff policies about 50 times.</p> <p>“The outlook for the global economy has deteriorated since the February statement. This is due to the adverse impact on global growth from higher tariffs and widespread economic and policy unpredictability,” the bank noted.</p> <p>The US tariff pauses on the highest rates on China and most other nations are due to be in place for 90 days. But more measures may be announced before then.</p> <p>This uncertainty is likely to be stifling trade, and even more so investment decisions by companies in the face of rapidly changing policies. And it will weaken the global economy.</p> <p>In her <a href="https://rba.livecrowdevents.tv/MediaConferenceMonetaryPolicyDecision20May2025/stream">press conference</a>, Bullock said the board’s judgement was that “global trade developments will overall be disinflationary for Australia”. Not only is the global outlook weaker, but some goods no longer being sold to the US could be diverted to Australia.</p> <h2>Where will interest rates go from here?</h2> <p>The Reserve Bank’s updated <a href="https://www.rba.gov.au/publications/smp/2025/may/pdf/statement-on-monetary-policy-2025-05.pdf">forecasts</a> assume interest rates will fall further, to 3.4% by the end of the year.</p> <p>But this is just a reflection of what <a href="https://www.rba.gov.au/statistics/cash-rate/assumptions/index.html">financial markets are implying</a>. It is not necessarily what the bank itself <em>expects</em> to do. It is certainty not a <em>promise</em> of what they will do.</p> <p>But the Reserve Bank still regards its stance as “restrictive”, or weighing on growth. So if it continues to believe inflation will stay within the target band, or the global outlook deteriorates, it will cut rates further.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/256798/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em>By <a href="https://theconversation.com/profiles/john-hawkins-746285">John Hawkins</a>, Senior Lecturer, Canberra School of Politics, Economics and Society, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a></em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/rba-cuts-interest-rates-ready-to-respond-again-if-the-economy-weakens-further-256798">original article</a>. </em></p> <p><em>Image: Sky News</em></p> </div>

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Aussie couple set to give away $3.5 billion

<p>Billionaire Canva co-founder Cameron Adams and his wife Lisa Miller have pledged to give away at least half of their estimated $7 billion fortune, calling on Australia’s wealthiest to follow suit in the fight against environmental degradation.</p> <p>The philanthropic commitment will see the couple funnel significant resources into green initiatives via The Giving Pledge and Founders Pledge – two global efforts that encourage billionaires and entrepreneurs to donate a substantial portion of their wealth to impactful causes.</p> <p>“Nature nourishes us, sustains us, inspires us and shapes how we live,” Mr Adams wrote in his letter to The Giving Pledge, the global charity initiative co-founded by Warren Buffett and Bill and Melinda Gates. “But today, many of the ecosystems that support our lives are being destroyed – and our future depends on how we choose to save them.”</p> <p>Adams, who co-founded the homegrown tech success Canva in 2013, and Miller, a former zoologist turned entrepreneur, say their focus will be on reversing biodiversity loss and restoring natural ecosystems, which they see as critical to the survival of life on Earth.</p> <p>“Philanthropy is more than charity; it is a means of addressing systemic issues, driving meaningful change and ensuring that future generations inherit a world rich in possibility and biodiversity,” Mr Adams said.</p> <p>The couple’s wealth is largely tied up in Canva equity, with the company currently valued at around AU$49.5 billion (US$32 billion) and reportedly considering a NASDAQ listing in 2026. Canva’s other co-founders, Melanie Perkins and Cliff Obrecht, joined The Giving Pledge in 2021.</p> <p>The new pledge by Adams and Miller follows earlier environmental commitments by the couple, including the establishment of Wedgetail Ventures, an eco-investment fund backing conservation projects and local communities. They also own a 5000-hectare property in Tasmania, now being developed into a conservation research centre in partnership with the University of Tasmania.</p> <p>“In recent years, we have grown in our confidence that these are issues worth fighting for, and that we can make a unique contribution with the funds and skills that we have,” Mr Adams said.</p> <p>Lisa Miller echoed the sentiment in joint statements, underscoring the importance of bold, scalable efforts in the environmental space. “We must not only halt nature’s decline but also begin its restoration,” she said.</p> <p>Through Founders Pledge, the couple joins a growing network of tech entrepreneurs including Spotify’s Magnus Hult, Culture Amp’s Jon Williams, and Klarna’s Niklas Adalberth. The organisation has attracted over 2,000 members across 45 countries, with more than US$1.5 billion (AU$2.3 billion) already donated from pledged funds.</p> <p>“Entrepreneurs are uniquely placed to transform the world,” Founders Pledge states. “We advise on, facilitate and maximise the impact of our members’ giving.”</p> <p>The Adams-Miller announcement adds to a growing number of high-profile philanthropic moves by Australian billionaires. Mining magnate Andrew “Twiggy” Forrest and his former wife Nicola were among the first Australians to sign on to The Giving Pledge back in 2013.</p> <p>“As a family, we agreed many years ago to give away the majority of our wealth,” the Forrests said at the time. “We felt that if our children were to inherit considerable wealth, it would only get in the way of them striving for and achieving their best.”</p> <p>Adams hopes his and Miller’s decision will spark a wider cultural shift among Australia’s wealthiest. “We hope others will recognise the power of philanthropy to create lasting environmental and societal impact by joining us in this commitment,” he said.</p> <p><em>Image: Wedgetail</em></p>

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Millions of Aussies set to receive cost-of-living pay bump

<p>Prime Minister Anthony Albanese has thrown his government’s support behind a “fair” pay rise for Australia's lowest-paid workers, setting the stage for a potential showdown with employer groups ahead of the Fair Work Commission’s annual wage review.</p> <p>In a submission to the Commission, the federal government recommended a real wage increase – meaning one above the rate of inflation – for around three million Australians earning either the minimum wage or under an industry award. The push is part of Labor’s broader strategy to ease cost-of-living pressures and boost household incomes.</p> <p>“This will help around three million workers across the country, including cleaners, retail workers and early childhood educators,” said Treasurer Jim Chalmers and Employment Minister Amanda Rishworth in a joint statement. “Boosting wages, cutting taxes for every taxpayer and creating more jobs are central parts of our efforts to help Australians with the cost of living.”</p> <p>While the government did not specify an exact figure, it made clear that any increase should outpace inflation, a stance likely to be met with resistance from employers. Business groups, including the Australian Chamber of Commerce and Industry, are calling for a more modest 2.5% increase, warning that anything higher could hurt struggling businesses, especially with superannuation contributions set to rise from 11.5% to 12% on July 1.</p> <p>Last year, minimum wage earners received a 3.75% pay rise, lifting the national minimum wage to $24.10 per hour, or $915.90 per week. With headline inflation then at 3.6%, workers saw only a marginal real wage increase of 0.15%.</p> <p>However, the economic backdrop has shifted. In the year to March, overall wages grew by 3.4% while the consumer price index rose just 2.4%, indicating a real wage growth of 1% for many Australians. Inflation is now within the Reserve Bank’s target band of 2-3%, which the government says supports its call for a generous, yet “economically responsible” wage hike.</p> <p>“An increase in minimum and award wages is consistent with inflation sustainably remaining within the RBA's target band and will provide further relief to lower income workers who are still doing it tough,” Chalmers and Rishworth added.</p> <p>Since Labor took office in 2022, the minimum wage has surged by historically high margins: 5.2% in 2022 – the largest rise in 16 years – and 5.75% in 2023. In total, the minimum wage has increased by $143 per week under the Albanese government.</p> <p>Despite concerns from employers over weak economic growth and rising business costs, the government remains optimistic about a rebound in domestic demand. Its submission acknowledged global risks, including the potential impact of Donald Trump's trade policies, but forecast stronger growth in 2025 and 2026.</p> <p>Prime Minister Albanese reinforced Labor’s commitment to wage growth during a cabinet meeting this week, saying a further increase to the minimum wage would be one of his top priorities heading into the next federal election. “Labor will always stand for improving people's wages and conditions,” he declared.</p> <p>Still, the looming expiry of the government’s $75 quarterly electricity rebates at the end of 2025 poses a risk of reigniting inflationary pressures – something the Fair Work Commission will weigh carefully as it prepares to announce its decision in June.</p> <p>The outcome of the review will directly affect 180,000 workers on the national minimum wage and an additional 2.7 million on industry awards, making it a critical flashpoint in the battle over how best to balance worker welfare and economic sustainability.</p> <p><em>Images: Instagram</em></p>

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"It's simple": Sussan Ley reveals stance on Welcome to Country

<p>Newly elected Liberal leader <a href="https://oversixty.com.au/finance/legal/sussan-ley-elected-first-female-leader-of-the-liberal-party" target="_blank" rel="noopener">Sussan Ley </a>has called on her party to modernise and reconnect with contemporary Australian values following one of its worst electoral defeats in history.</p> <p>In her first press conference since defeating Angus Taylor for the leadership, Ms Ley pledged a fresh approach to politics, saying the Liberal Party must "respect, reflect, and represent modern Australia".</p> <p>“We have to meet the people where they are. And that’s what I am committed to doing and what I am determined to do,” she said. “I want to do things differently, and we have to have a fresh approach.”</p> <p>Ley described her election to the party’s top job as an “enormous privilege”, adding: “I am humbled. I am honoured. And I am up for the job.”</p> <p>The leadership transition follows a bruising election campaign that saw the Liberals suffer significant losses, prompting calls for renewal and deeper engagement with a changing electorate.</p> <p>Cultural recognition also emerged as a flashpoint during the campaign’s final days, with controversy over audience reactions to Welcome to Country ceremonies. Addressing the issue head-on, Ms Ley called for authenticity in cultural acknowledgements.</p> <p>“With respect to Welcome to Country, it’s simple: if it’s meaningful, if it matters, if it resonates, then it’s in the right place,” she said. “If it is done in a way that is ticking a box on a Teams meeting then I don’t think it is relevant. It actually diminishes the value of what it is.”</p> <p>On the issue of national symbols, Ms Ley said she frequently stands in front of the Indigenous flag but would prefer to see Australians united under a single banner.</p> <p>“We should unite under the one Australian flag, that is my firm view,” she stated.</p> <p>Ms Ley now faces the challenge of steering a divided and diminished Liberal Party toward renewal, with pressure mounting to appeal to a broader, more diverse Australia. Her leadership marks a potential turning point for the party as it seeks to rebuild and redefine its identity in opposition.</p> <p><em>Image: Instagram</em></p>

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Bill Gates set to give away his entire fortune

<p>In a bold, legacy-defining move, the Bill and Melinda Gates Foundation had announced plans to spend more than $200 billion over the next two decades, dramatically accelerating its mission to combat global poverty and disease before closing its doors in 2045.</p> <p>The philanthropic giant, co-founded by Bill Gates in 2000, will double its giving in the years ahead – an effort Gates says is driven by a sense of "urgency and opportunity". With advances in artificial intelligence and public health breakthroughs on the horizon, and as government aid budgets decline worldwide, the foundation is aiming to make its final chapter the most impactful yet.</p> <p>"People will say a lot of things about me when I die, but I am determined that ‘he died rich’ will not be one of them," Gates, 69, wrote in a personal blog post on Thursday. “There are too many urgent problems to solve for me to hold onto resources that could be used to help people.”</p> <p>The decision marks a pivotal shift from the foundation’s original charter, which called for operations to end 20 years after Gates’s death. Instead, the organisation will sunset in 2045, regardless of Gates’s lifespan.</p> <p>The scale of the commitment is staggering: over the next 20 years, the Gates Foundation will give away more than twice what it distributed in its first 25 years. “During the first 25 years of the Gates Foundation – powered in part by the generosity of Warren Buffett – we gave away more than $100 billion,” Gates noted. </p> <p>Founded at the dawn of the 21st century, the Gates Foundation has become one of the most influential forces in global health. From spearheading polio eradication efforts to funding a life-saving rotavirus vaccine that has reduced child deaths from diarrhoea by 75%, its impact is undeniable.</p> <p>Now, the foundation’s final act aims even higher. “By accelerating our giving, my hope is we can put the world on a path to ending preventable deaths of mums and babies and lifting millions of people out of poverty,” Gates wrote.</p> <p>The announcement also comes at a moment of transition. In 2024, Melinda French Gates departed from the foundation, three years after the couple's divorce. Yet the shared vision remains clear: a world where fewer lives are lost to poverty, illness and neglect.</p> <p>As Gates prepares to give away nearly all of his $112.6 billion fortune, his message to the world is simple – and powerful: we don’t have forever to make a difference. So we must act now.</p> <p><em>Images: Instagram</em></p>

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When can you expect to benefit from Albanese's election promises?

<p>Following the sweeping victory for Prime Minister Anthony Albanese and the Labor Party over the weekend, Australians are now looking to the government to deliver on a suite of cost-of-living promises aimed at easing financial pressures across the country.</p> <p>Finance expert and Money editor Effie Zahos told the <em>Today</em> show that the scale of the Labor win should pave the way for campaign commitments to be swiftly translated into policy. "The strength of the government's win should make the passage from promise into law a lot easier," Zahos said. "And there were so many promises made – everything from a two-year beer tax freeze to a new 1800 Medicare line."</p> <p>Among the most anticipated reforms is a no-receipt $1000 tax deduction for work-related expenses, set to roll out on July 1 next financial year. Zahos described the measure as an "exciting" step in a broader tax overhaul, but she also offered a word of caution: "This is a tax deduction, not a refund. So how much you get will come down to your tax bracket. Assuming you're on a 30 per cent tax rate, your relief will be $300."</p> <p>The Albanese government estimates around six million Australians will benefit, with average savings of $205 per person. However, a broader income tax cut for those earning between $45,000 and $80,201 – reducing the rate from 16 per cent to 14 per cent – won't take effect until July 1, 2027.</p> <p><strong>Housing and Construction Promises</strong></p> <p>On the housing front, the government has committed to enabling five per cent deposits for home buyers and offering shared equity loans, starting July 1. However, Zahos noted that implementation could vary. "The shared equity one still is uncertain because they've got to be pushed out through the states as well," she said.</p> <p>Additional measures include the construction of 100,000 new homes and a $10,000 bonus for apprentice tradies such as bricklayers, electricians, carpenters, and plumbers living away from home. The bonus will be distributed in $2000 instalments beginning in the new financial year.</p> <p><strong>Support for Students and Parents</strong></p> <p>In a bid to appeal to younger voters, the government has pledged to cut 20 per cent off student HELP debts before June 1. The move is expected to reduce the average student loan by more than $5000. </p> <p>From January 5, 2026, parents will be entitled to three days of subsidised childcare per week – a policy that removes the activity test, meaning employment will no longer be a requirement for access.</p> <p><strong>Energy Relief on the Horizon</strong></p> <p>Households can also expect temporary relief on energy costs, with rebates and a 30 per cent discount on home batteries starting from July 1. But Zahos warned these benefits will expire by the end of 2025. "And then the pain will continue," she said, hinting at the ongoing challenges Australians face despite the short-term reprieve.</p> <p>With expectations high and timelines tight, all eyes are now on the Albanese government to turn its electoral promises into tangible support for everyday Australians.</p> <p><em>Image: ABC News</em></p> <p> </p>

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Aussie bank says good news on the way for homeowners

<p>Bendigo Bank is forecasting four interest rate cuts from the Reserve Bank of Australia (RBA), including one later this month, following the release of key inflation figures that show underlying inflation has returned to the central bank’s target range for the first time in over three years.</p> <p>According to Bendigo Bank’s chief economist David Robertson, the RBA is expected to pivot from its primary focus on inflation to broader economic concerns such as employment and growth. “The RBA has been dealing with global inflation shock for three years, but its concerns are quickly moving from price stability and inflation to protecting growth and jobs,” Robertson said.</p> <p>The RBA's preferred measure of underlying inflation, the trimmed mean, fell from 3.3% to 2.9%, marking a return to the target range of 2–3% for the first time since December 2021. Headline inflation held steady at 2.4%.</p> <p>Robertson said the new inflation data sets the stage for a rate cut on May 20, with the only remaining uncertainty being the size of the cut. “The next cut is almost certain for May 20, but of what magnitude?” he said, suggesting a 35 basis point reduction was more likely than a larger move. “A larger 50 basis point cut in May is most unlikely unless markets become dislocated like in the GFC.”</p> <p>Bendigo Bank is forecasting a total of four rate cuts, including the expected May move, bringing the cash rate down to approximately 3.1% by the end of the year. Market analysts are even more aggressive, pricing in five cuts that could take the rate to around 2.8%.</p> <p>Despite the improved inflation outlook, global economic headwinds remain a significant concern. Robertson pointed to ongoing market volatility driven by US President Donald Trump’s trade tariffs and uncertainty surrounding global trade flows. “Equity markets have been clawing back some of their losses but there are still difficult times ahead,” he said. “Tariffs are generally bad for everyone but especially problematic for the country imposing them.”</p> <p>The International Monetary Fund (IMF) has revised global growth projections in light of the economic tensions, cutting its forecast for US GDP growth from 2.7% to 1.8% and China’s from 4.6% to 4%. Australia, too, has felt the impact, with the IMF reducing its 2025 growth estimate from 2.1% to 1.6%. Bendigo Bank has adjusted its own forecast accordingly, downgrading Australia’s expected growth to 2%.</p> <p>With inflation easing and global pressures mounting, the RBA appears poised to shift gears from restraint to support. “The environment is changing quickly,” said Robertson. “It’s time for the RBA to support the broader economy again.”</p> <p><em>Image: Bendigo Bank</em></p>

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Why are political parties allowed to send spam texts? And how can we make them stop?

<div class="theconversation-article-body"> <p>Another election, another wave of unsolicited political texts. Over this campaign, our digital mailboxes have been stuffed with a slew of political appeals and promises, many from the new party Trumpet of Patriots (backed by Clive Palmer, a <a href="https://www.abc.net.au/news/2019-01-11/clive-palmer-united-australia-party-unsolicited-text-messages/10709106">veteran</a> of the mass text campaign).</p> <p>The practice isn’t new, and it’s totally legal under current laws. It’s also non-partisan. Campaigns of all stripes have partaken. Behold, the Liberal Party’s <a href="https://www.sbs.com.au/news/article/liberal-party-defends-sending-text-messages-to-voters-on-asylum-seeker-boat-intercepts/mmqwk5508">last-minute SMS</a> to voters about asylum seekers before the 2022 federal election, or Labor’s controversial “<a href="https://www.smh.com.au/politics/federal/federal-election-2016-shorten-confirms-labor-sent-mediscare-text-20160705-gpzasl.html">Mediscare</a>” text before the 2016 poll. Despite multiple cycles of criticism, these tactics remain a persistent feature of Australian election campaigns.</p> <p>A recent proposal to update decades-old rules could help change things – if a government would put it into practice.</p> <h2>What does the law say about political spam?</h2> <p>Several laws regulate spam and data collection in Australia.</p> <p>First, there is the Spam Act. This legislation requires that organisations obtain our consent before sending us marketing emails, SMSs and instant messages. The unsubscribe links you see at the bottom of spam emails? Those are mandated by the Spam Act.</p> <p>Second, the Do Not Call Register (DNCR) Act. This Act establishes a “do not call” register, managed by the <a href="https://www.acma.gov.au/say-no-to-telemarketers">Australian Communications and Media Authority</a> (ACMA), which individuals can join to opt out of telemarketing calls.</p> <p>Finally, there is the Privacy Act, which governs how organisations collect, use and disclose our personal information. Among other things, the Privacy Act requires that organisations tell us when and why they are collecting our personal information, and the purposes for which they intend to use it. It restricts organisations from re-purposing personal information collected for a particular purpose, unless an exception applies.</p> <p>This trio of laws was designed to offer relief from unsolicited, unwanted direct marketing. It does not, however, stop the deluge of political spam at election time due to broad political exemptions sewn into the legislation decades ago.</p> <p>The Spam Act and DNCR Act apply to marketing for goods and services but not election policies and promises, while the Privacy Act contains a <a href="https://classic.austlii.edu.au/au/journals/UNSWLawJl/2021/21.html#fn13">carve-out</a> for political parties, representatives and their contractors.</p> <p>The upshot is that their campaigns are free to spam and target voters at will. Their only obligation is to disclose who authorised the message.</p> <h2>How do political campaigns get our information?</h2> <p>Secrecy about the nature and extent of campaign data operations, enabled by the exemptions, makes it difficult to pinpoint precisely where a campaign might have obtained your data from.</p> <p>There are, however, a number of ways political campaigns can acquire our information.</p> <p>One source is the electoral roll (though not for phone numbers, as the Australian Electoral Commission <a href="https://x.com/AusElectoralCom/status/1434752533294194692">often points out</a>). Incumbent candidates might build on this with information they obtain through contact with constituents which, thanks to the exemptions, they’re allowed to re-purpose for campaigning at election time.</p> <p>Another source is data brokers – firms which harvest, analyse and sell large quantities of data and profiles.</p> <p>We know the major parties have long maintained voter databases to support their targeting efforts, which have become <a href="https://www.abc.net.au/news/2022-05-19/behind-liberal-labor-data-arms-race-this-election/101074696">increasingly sophisticated</a> over the years.</p> <p>Other outfits might take more haphazard approaches – former MP <a href="https://www.smh.com.au/politics/federal/united-australia-party-leader-craig-kelly-defends-spam-messages-20210829-p58mv7.html">Craig Kelly</a>, for example, claimed to use software to randomly generate numbers for his texting campaign in 2021.</p> <h2>What can be done?</h2> <p>Unwanted campaign texts are not only irritating to some. They can be misleading.</p> <p>This year, there have been <a href="https://www.abc.net.au/news/2025-04-17/monique-ryan-polling-amelia-hamer-trust-fund-kooyong/105185290">reports</a> of “push polling” texts (pseudo surveys meant to persuade rather than gauge voter options) in the marginal seat of Kooyong. The AEC has <a href="https://www.aec.gov.au/media/2025/03-31a.htm">warned</a> about misleading postal vote applications being issued by parties via SMS.</p> <figure class="align-right zoomable"><a href="https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=237&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=600&h=738&fit=crop&dpr=1 600w, https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=30&auto=format&w=600&h=738&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=15&auto=format&w=600&h=738&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=754&h=927&fit=crop&dpr=1 754w, https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=30&auto=format&w=754&h=927&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/664617/original/file-20250429-74-yothae.jpg?ixlib=rb-4.1.0&q=15&auto=format&w=754&h=927&fit=crop&dpr=3 2262w" alt="Screenshot of a text message from Trumpet of Patriots." /></a><figcaption><span class="caption">This election campaign has seen a flood of texts from Trumpet of Patriots, among others.</span> <span class="attribution"><span class="source">The Conversation</span>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/">CC BY-SA</a></span></figcaption></figure> <p>Generative AI is hastening the ability to produce misleading content, cheaply and at scale, which can be quickly pushed out across an array of online social and instant messaging services.</p> <p>In short, annoying texts are just one visible symptom of a wider vulnerability created by the political exemptions.</p> <p>The basic argument for the political exemptions is to facilitate freedom of political communication, which is protected by the Constitution. As the High Court has said, that freedom is necessary to support informed electoral choice. It does not, however, guarantee speakers a <a href="http://www6.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/HCA/2019/11.html">captive audience</a>.</p> <p>In 2022, the Attorney-General’s Department <a href="https://www.ag.gov.au/sites/default/files/2023-02/privacy-act-review-report_0.pdf">proposed</a> narrowing the political exemptions, as part of a suite of updates to the Privacy Act. Per the proposal, parties and representatives would need to be more transparent about their data operations, provide voters with an option to unsubscribe from targeted ads, refrain from targeting voters based on “sensitive information”, and handle data in a “fair and reasonable” manner.</p> <p>The changes would be an overdue but welcome step, recognising the <a href="https://bridges.monash.edu/articles/journal_contribution/Conceptualising_Voter_Privacy_in_the_Age_of_Data-Driven_Political_Campaigning/27330276?file=50073381">essential role</a> of voter privacy in a functioning democratic system.</p> <p>Unfortunately, the government has not committed to taking up the proposal.</p> <p>A bipartisan lack of support is likely the biggest obstacle, even as the gap created by the political exemptions widens, and its rationale becomes flimsier, with each election cycle.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/255413/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em>By <a href="https://theconversation.com/profiles/tegan-cohen-1331144">Tegan Cohen</a>, Postdoctoral Research Fellow, Digital Media Research Centre, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a></em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-are-political-parties-allowed-to-send-spam-texts-and-how-can-we-make-them-stop-255413">original article</a>.</em></p> <p><em>Image: Shutterstock</em></p> </div>

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Q+A descends into acrimony over Welcome to Country debate

<p>The ABC’s flagship program <em>Q+A</em> erupted into heated exchanges on Monday night as panellists clashed over the role and frequency of Welcome to Country ceremonies, amid growing national debate sparked by political and community divisions.</p> <p>The discussion was triggered when audience member Peter asked how tensions over the ceremonies could be resolved "amicably" and "in the interest of all parties", following escalating disagreement between Prime Minister Anthony Albanese and Opposition Leader Peter Dutton during the current federal election campaign.</p> <p>Liberal MP Paul Fletcher argued from the Q+A panel that while it was important to recognise the “distinctive place” of Indigenous Australians, many in the community felt there were now too many ceremonial acknowledgements.</p> <p>The issue has been further inflamed after neo-Nazis booed a Welcome to Country delivered by Bunurong man Uncle Mark Brown during the Anzac Day Dawn Service at Melbourne’s Shrine of Remembrance – a move that was swiftly condemned by both major political parties.</p> <p>However, Mr Dutton later suggested that Welcome to Country ceremonies were being overused and questioned their appropriateness for solemn occasions like Anzac Day.</p> <p>On <em>Q+A</em>, Environment Minister Tanya Plibersek defended the tradition, particularly at Anzac Day events, arguing it was "perfectly appropriate" to acknowledge the service of Indigenous Australians in the military.</p> <p>Fletcher countered that veterans should be consulted on the issue, prompting a sharp exchange when Plibersek retorted that he was speaking as if Indigenous veterans did not exist. Fletcher accused her of using “straw man rhetoric”, insisting, “The role of Indigenous people in defending Australia over many conflicts has been very significant. Nobody is contesting that for a second.”</p> <p>Greens leader Adam Bandt also weighed in, launching a scathing attack on Dutton’s handling of the matter. “It’s gutter politics from an Opposition leader whose campaign is in free fall and he’s starting to punch down,” Bandt said. He accused Dutton of spreading misinformation during the Voice referendum campaign and likened his tactics to those of US President Donald Trump.</p> <p>“He’s playing from the Trump play book as his campaign is in free fall. Punching down. Playing from the Trump play book and we’ll call it out," Bandt said.</p> <p><em>Image: ABC's Q+A</em></p>

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What every parent should read before becoming the bank of mum and dad

<p><span style="font-family: Calibri, sans-serif;">In late 2023, economists Jarden estimated </span><a style="color: #467886;" href="https://www.afr.com/companies/financial-services/the-bank-of-mum-and-dad-is-good-for-70-000-new-analysis-concludes-20231129-p5enpp"><span style="font-family: Calibri, sans-serif;">15 per cent of mortgage borrowers received some form of financial support</span></a><span style="font-family: Calibri, sans-serif;"> from their parents. A separate poll by comparison site Finder around the same time </span><a style="color: #467886;" href="https://au.finance.yahoo.com/news/first-home-buyers-reveal-huge-amount-aussie-parents-gifted-them-201221909.html"><span style="font-family: Calibri, sans-serif;">put the figure at 11 per cent</span></a><span style="font-family: Calibri, sans-serif;">. Fast forward to February this year, with a UBS survey </span><a style="color: #467886;" href="https://www.abc.net.au/news/2025-02-06/cost-of-living-sting-lessened-by-bank-of-mum-and-dad/104882754"><span style="font-family: Calibri, sans-serif;">suggesting almost half of first home buyers receive parental assistance</span></a><span style="font-family: Calibri, sans-serif;">. Clearly, the Bank of Mum and Dad is a rapidly growing source of funds for younger people seeking to purchase property. However, some older Australians are now paying a hefty price for having done so without adequate planning and protections.</span></p> <p><strong><span style="font-family: Calibri, sans-serif;">On the hook</span></strong></p> <p><span style="font-family: Calibri, sans-serif;">Amid the excitement of homebuying, many parents overlook the fact they could be left on the hook to cover any shortfall. The worst-case scenario here is losing your own home, as well as your child losing theirs, if you went guarantor on their loan and they defaulted and you didn’t have a backup plan. If you loaned them money which they subsequently can’t repay, the principal amount goes unrepaid and you also miss out on the interest/compound growth that money could have earned if invested elsewhere. You may even be asked to fork out more in future if your child needs help to keep the property or to subsequently buy a replacement property. Unlike for a real bank, there is no public bailout for the Bank of Mum and Dad.</span></p> <p><strong><span style="font-family: Calibri, sans-serif;">Financial shortfall</span></strong></p> <p><span style="font-family: Calibri, sans-serif;">A common problem that I and other financial advisors are now seeing is parents inadvertently giving their children more than they can actually afford. Take people who acted as Bank of Mum and Dad before the pandemic hit. They budgeted how much they would need for retirement and then gave their adult kids money towards buying a home of their own. Then COVID-19 arrived. Countless jobs were lost and businesses shuttered. Many would-be retirees were forced to stay in the workforce for longer than planned. Next came the inflation crisis, with mortgages and living costs soaring. Retirement budgets blew-out as more money was suddenly needed for everyday expenses, particularly energy, insurance and food. Meanwhile ballooning house prices over the pandemic years saw first homebuyers needing even larger deposits. That all translated to significant financial shortfalls for the Bank of Mum and Dad.</span></p> <p><strong><span style="font-family: Calibri, sans-serif;">Elder abuse</span></strong></p> <p><a style="color: #467886;" href="https://www.aihw.gov.au/family-domestic-and-sexual-violence/population-groups/older-people#abuse"><span style="font-family: Calibri, sans-serif;">Government figures from 2023</span></a><span style="font-family: Calibri, sans-serif;"> estimate one in six older Australians suffer elder abuse in some form, with 2.1 per cent experiencing financial abuse – undue control, pressure or restricted access to their own money and financial decisions. Half (53 per cent) of elder abuse perpetrators are family members, with adult children the most common offenders.</span></p> <p><span style="font-family: Calibri, sans-serif;">Given the amount of money involved in property purchases, and the stresses associated with housing affordability, the potential for the Bank of Mum and Dad to suffer elder abuse is alarmingly high.</span></p> <p><strong><span style="font-family: Calibri, sans-serif;">Relationship breakdowns</span></strong></p> <p><span style="font-family: Calibri, sans-serif;">Money is perhaps the greatest source of tension in relationships. Usually that is between partners, yet these can multiply for the Bank of Mum and Dad and its stakeholders. Some examples include:</span></p> <ul> <li><span style="font-family: Calibri, sans-serif;">You and your partner disagree on what or how much assistance to provide.</span></li> <li><span style="font-family: Calibri, sans-serif;">Your other children feel disadvantaged if they don’t receive the same financial assistance.</span></li> <li><span style="font-family: Calibri, sans-serif;">Having provided the finances, you then interfere in how your child manages the property or their general finances, causing resentment to build.</span></li> <li><span style="font-family: Calibri, sans-serif;">A marriage breakdown (yours or your child’s) affects the repayment of a loan or the nature of a mortgage guarantee.</span></li> </ul> <p><strong><span style="font-family: Calibri, sans-serif;">Protect yourself</span></strong></p> <p><span style="font-family: Calibri, sans-serif;">While supporting children is the foremost concern of the Bank of Mum and Dad, it is important to protect yourself too. A written agreement outlining the nature of the support, conditions and contingencies is crucial to keep every aligned. Independent advice from your financial adviser, lawyer, mortgage broker and accountant ensures you fully understand what you are on the hook for, how much you can afford to contribute, and whether there are less-risky options.</span></p> <p><span style="font-family: Calibri, sans-serif;">Finally, be sure that the decision to support your child’s property ambitions is your own and that you aren’t coerced into it. If you’re concerned that you may be experiencing elder abuse, call the free </span><a style="color: #467886;" href="https://www.health.gov.au/contacts/elder-abuse-phone-line"><span style="font-family: Calibri, sans-serif;">elder abuse line on 1800 353 374</span></a><span style="font-family: Calibri, sans-serif;">.</span></p> <p><strong><span style="line-height: 18.4px; font-family: Calibri, sans-serif; color: #242424;">Helen Baker is a licensed Australian financial adviser and author of the new book, <em>Money For Life: How to build financial security from firm foundations (Major Street Publishing $32.99).</em> Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children<em>. </em>Find out more at </span></strong><a style="color: #467886;" title="http://www.onyourowntwofeet.com.au/" href="http://www.onyourowntwofeet.com.au/"><strong><span style="line-height: 18.4px; font-family: Calibri, sans-serif;">www.onyourowntwofeet.com.au</span></strong></a></p> <p><strong><em><span style="line-height: 18.4px; font-family: Calibri, sans-serif; color: #242424;">Disclaimer: The information in this article is of a general nature only and does not constitute personal financial or product advice. Any opinions or views expressed are those of the authors and do not represent those of people, institutions or organisations the owner may be associated with in a professional or personal capacity unless explicitly stated. Helen Baker is an authorised representative of BPW Partners Pty Ltd AFSL 548754.</span></em></strong></p> <p><em><span style="line-height: 18.4px; font-family: Calibri, sans-serif; color: #242424;">Image: Shutterstock</span></em></p>

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Australia has the highest gambling losses in the world. Is it time for mandatory limits?

<div class="theconversation-article-body">Gambling prevalence studies provide a snapshot of gambling behaviour, problems and harm in our communities. They are typically conducted about every five years.</p> <p>In some Australian states and territories, four or five have been conducted over the past 20 or so years. These have provided a snapshot into how gambling has changed – and how it has not.</p> <p>So, how has gambling in Australia changed in the past two decades or so, and where may we be heading?</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">Australia has the highest gambling losses in the world.<br />Australia should: <br />🚫 Ban gambling ads<br />🎰 Introduce loss limits on pokies and online gambling<br />📉 Progressively cut the number of pokies in each state</p> <p>Our new report shows how governments should prevent gambling harm.… <a href="https://t.co/7U3IgzOLSp">pic.twitter.com/7U3IgzOLSp</a></p> <p>— Grattan Institute (@GrattanInst) <a href="https://twitter.com/GrattanInst/status/1831297414080176469?ref_src=twsrc%5Etfw">September 4, 2024</a></p></blockquote> <h2>The intensification of gambling</h2> <p>In 1997-98, the Productivity Commission found <a href="https://www.pc.gov.au/inquiries/completed/gambling/report/summary.pdf">about 82% of Australians</a> had gambled in the previous 12 months.</p> <p>Almost all further prevalence studies show the proportion of adults gambling has declined substantially over time.</p> <p>The <a href="https://www.gambleaware.nsw.gov.au/resources-and-education/check-out-our-research/published-research/nsw-gambling-survey-2024">2024 NSW prevalence survey</a>, for example, found 54% reported gambling in the previous 12 months, down from 69% in 2006.</p> <p>While fewer people are gambling, the proportion of people experiencing problems has not changed much, <a href="https://www.qgso.qld.gov.au/statistics/theme/society/gambling/australian-gambling-statistics">nor has gambling turnover</a>.</p> <p>In some states, gambling turnover has increased, even when you take inflation into account.</p> <p>So while a smaller proportion of people are gambling, those who do gamble are doing so more frequently, and spend more money – a phenomenon we have described as the “intensification” of the industry.</p> <p>As figures from the Grattan Institute show, the vast majority of gambling spend comes from a very small proportion of people who gamble.</p> <p><iframe id="Z6EYJ" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/Z6EYJ/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <h2>What’s the problem?</h2> <p>Typically, the focus in gambling studies has been on “problem gamblers”, a term we now avoid because it can be stigmatising.</p> <p>This refers to those experiencing severe problems due to their gambling, which is typically <a href="https://www.justice.vic.gov.au/justice-system/safer-communities/gambling/victorian-population-gambling-and-health-study-2023">about 1% of the adult population</a>, and around 2% of people who gamble.</p> <p>This doesn’t sound like much, until you remember 1% of adults in Australia is more than 200,000 people. That’s a lot of people struggling with severe problems.</p> <p>Based on recent prevalence surveys in Australia, these gamblers spend <a href="https://www.gambleaware.nsw.gov.au/resources-and-education/check-out-our-research/published-research/nsw-gambling-survey-2024">about 60 times as much</a> as people who do not experience problems.</p> <p>However, that’s just the most severe cases.</p> <h2>How gambling harms people</h2> <p>When most people think of gambling harm, they think about financial harm. But gambling can cause problems with relationships, work and study, emotional and psychological harm, and <a href="https://bmcpublichealth.biomedcentral.com/articles/10.1186/s12889-016-2747-0">even cause health issues</a>.</p> <p>Some degree of gambling harm is experienced by <a href="https://www.gambleaware.nsw.gov.au/resources-and-education/check-out-our-research/published-research/nsw-gambling-survey-2024">around 10-15%</a> of people who gamble.</p> <p>Some groups are overrepresented: young men typically experience very high levels of harm compared to others. Other overrepresented groups are:</p> <ul> <li>those who have not completed tertiary education</li> <li>people who speak a language other than English</li> <li>people who identify as Aboriginal or Torres Strait Islander.</li> </ul> <p>Harm isn’t just experienced by people who gamble, though – it impacts the people around them.</p> <p>While young men are more likely to experience harm from their own gambling, <a href="https://www.gambleaware.nsw.gov.au/resources-and-education/check-out-our-research/published-research/nsw-gambling-survey-2024">women, particularly young women</a>, are most likely to experience harm from someone else’s gambling.</p> <p>When we take all of these sources of harm into account, we get a much better picture of gambling harm in our community: <a href="https://www.gambleaware.nsw.gov.au/resources-and-education/check-out-our-research/published-research/nsw-gambling-survey-2024">around 15-20% of all adults</a> (not all gamblers) experience harm.</p> <p>That’s very different to the figure of 1% we’ve focused on in the past.</p> <p>We’re still missing some accounting, though: we don’t know how much harm is experienced by people under 18, for example, because prevalence studies typically only include adults.</p> <h2>Where does the harm come from?</h2> <p>The most problematic form in Australia is pokies, responsible for <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC10260219/#:%7E:text=EGMs%20are%20responsible%20for%2051,problems%20due%20to%20low%20participation.">about 51-57% of problems</a>.</p> <p>Casinos are responsible for <a href="https://ftp.justice.vic.gov.au/justice-system/safer-communities/gambling/victorian-population-gambling-and-health-study-2023">another 10-14%</a>, although fewer people have been gambling in casino games in recent years.</p> <p>Sports betting and race betting together account for about another 19-20% of harm.</p> <p>Between them, pokies, casino games and sports and race betting account for about 90% of harm to Australian gamblers.</p> <p><iframe id="w2wEY" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/w2wEY/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <h2>Availability is an issue</h2> <p>This widespread availability of pokies is the biggest single driver behind gambling harm in Australia.</p> <p><iframe id="hIgeD" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/hIgeD/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <p>In other countries, pokies are limited to venues that are specifically used for gambling, like casinos or betting shops.</p> <p>We have pokies in a huge number of our pubs and clubs, except in Western Australia.</p> <p>A couple of years ago, we used national prevalence data to compare gambling problems in WA <a href="https://akjournals.com/view/journals/2006/12/3/article-p721.xml">to the rest of the country</a>.</p> <p>A higher percentage of adults in WA gamble, but mostly on the lotteries which are typically <a href="https://theconversation.com/pokies-lotto-sports-betting-which-forms-of-problem-gambling-affect-australians-the-most-240665">not associated with much harm</a>.</p> <p>Gambling on pokies is far less prevalent in WA because they’re only available in one casino. Gambling problems and harm are about one-third lower in WA, and our analysis shows this can be attributed to the limited access to pokies.</p> <p>This also tells us something important. If pokies are not available, people will typically not substitute them with other harmful forms. It points to the role of the availability of dangerous gambling products in gambling harm, rather than personal characteristics.</p> <p>Online gambling has also become a lot more available. Most of us now have a mobile phone almost surgically implanted onto our hand, making online gambling more accessible than ever. Not surprisingly, <a href="https://www.gamblingresearch.org.au/publications/second-national-study-interactive-gambling-australia-2019-20">online gambling continues to increase</a>.</p> <h2>An obvious solution to try</h2> <p>Governments have taken increasingly proactive measures to help address gambling harm, such as the <a href="https://www.dss.gov.au/gambling/resource/national-consumer-protection-framework-online-wagering-national-policy-statement">National Consumer Protection Framework for Online Gambling</a>, strategies for minimising harm such as NSW’s investment into <a href="https://www.nsw.gov.au/media-releases/gambleaware-week-0">gambling harm minimisation</a>, Victoria’s <a href="https://www.theguardian.com/australia-news/2024/nov/26/victoria-pokies-changes-limits-new-laws">proposed reforms on pokies</a> including mandatory precommitment limits, Queensland’s <a href="https://www.publications.qld.gov.au/dataset/gambling-harm-min/resource/84d444db-97e0-4be0-8e87-0c6f0cb412d6">Gambling Harm Minimisation Plan</a> and the ACT’s <a href="https://www.gamblingandracing.act.gov.au/__data/assets/pdf_file/0009/1436580/Strategy-for-gambling-harm-prevention.pdf">Strategy for Gambling Harm Prevention</a>.</p> <p>Voluntary limits have been trialled to help people keep their gambling under control, but have had <a href="https://www.abc.net.au/news/2024-12-03/nsw-government-cashless-gaming-trial-findings-released/104679384">virtually no uptake</a>.</p> <p>For example, the recent <a href="https://www.liquorandgaming.nsw.gov.au/__data/assets/pdf_file/0018/1340136/evaluation-of-the-nsw-digital-gaming-wallet-trial-2024.pdf">NSW Digital Gaming Wallet trial</a> was conducted in 14 venues. Only 32 people were active users, and 14 of these were deemed genuine users. <a href="https://www.adelaide.edu.au/saces/ua/media/652/evaluation-of-yourplay-final-report_0.pdf">Another study</a> found only 0.01% of all money put through machines in Victoria used the voluntary YourPlay scheme.</p> <p>The problem with voluntary limits is, no one volunteers.</p> <p>Mandatory limits though are almost certainly necessary, just like we have mandatory limits for how fast you can drive, or how much you can drink before the bartender puts you in a taxi.</p> <p>There will almost certainly be push back against this, just like the introduction of mandatory seatbelts in the 1970s, or <a href="https://www.abc.net.au/news/2023-10-04/road-safety-history-australia-toll-increase/102903364">the introduction of random breath testing</a>.</p> <p>Now, we accept them as important public health measures.</p> <p>History tells us the same will happen with mandatory gambling limits, even if we’re a bit uncomfortable about it at first.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/252389/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em>By <a href="https://theconversation.com/profiles/alex-russell-133860">Alex Russell</a>, Principal Research Fellow, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a>; <a href="https://theconversation.com/profiles/matthew-browne-97705">Matthew Browne</a>, Senior Lecturer in Statistics, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a>, and <a href="https://theconversation.com/profiles/matthew-rockloff-569">Matthew Rockloff</a>, Head, Experimental Gambling Research Lab, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a></em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/gambling-in-australia-how-bad-is-the-problem-who-gets-harmed-most-and-where-may-we-be-heading-252389">original article</a>.</em></p> <p><em>Image: Shutterstock</em></p> </div>

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Our ancestors didn’t eat 3 meals a day. So why do we?

<div class="theconversation-article-body"> <p>Pop quiz: name the world’s most famous trio? If you’re a foodie, then your answer might have been breakfast, lunch and dinner. It’s an almost universally accepted trinity – particularly in the Western world.</p> <p>But how did it come about?</p> <h2>The first meals</h2> <p><a href="https://theconversation.com/when-did-we-become-fully-human-what-fossils-and-dna-tell-us-about-the-evolution-of-modern-intelligence-143717#:%7E:text=Fossils%20and%20DNA%20suggest%20people,%3A%2050%2C000%2D65%2C000%20years%20ago">Early humans</a> were nomadic. Forming small communities, they would travel with the seasons, following local food sources.</p> <p>While we can only guess what daily mealtimes rhythms looked like, evidence dating back <a href="https://global.oup.com/academic/product/feast-9780199209019?cc=nz&lang=en&">30,000 years</a> from the South Moravia region, Czech Republic, shows people visited specific settlements time and again. They gathered around hearths, cooking and sharing food: the first signs of human “commensality”, the practice of eating together.</p> <p>One of the best-preserved hunter-gatherer sites we’ve found is <a href="https://global.oup.com/academic/product/feast-9780199209019?cc=nz&lang=en&">Ohalo II</a> – located on the shores of the modern-day Sea of Galilee (also called Lake Tiberias or Lake Kinneret) in Israel, and dating back some 23,000 years.</p> <p>In addition to several small dwellings with hearths, it provides evidence of diverse food sources, including more than 140 types of seeds and nuts, and various birds, fish and mammals.</p> <p>The development of <a href="https://education.nationalgeographic.org/resource/development-agriculture/">agricultural knowledge</a> some 12,000 years ago gave rise to permanent settlements. The earliest were in the Levant region (across modern-day Iraq, southwestern Iran and eastern Turkey), in an area called the “Fertile Crescent”.</p> <p>Permanent agriculture led to the production of a <a href="https://www.nationalgeographic.com/foodfeatures/evolution-of-diet/">surplus of food</a>. The ability to stay in one place with food on-hand meant the time it took to cook no longer mattered as much.</p> <p>It quickly became common to eat one <a href="https://www.bloomsbury.com/us/history-of-the-world-in-6-glasses-9780802718594/">light meal</a> early in the day, followed by a larger <a href="https://global.oup.com/academic/product/feast-9780199209019?cc=nz&lang=en&">hearth-prepared meal</a> later on. The specific timings would have varied between groups.</p> <h2>Eating together as a rule</h2> <p>The communal nature of foraging and hunting, and later farming, meant humans almost always ate their meals in the <a href="https://doi.org/10.1525/gfc.2009.9.3.42">company of others</a>. In the ancient city-state of Sparta, in the <a href="https://doi.org/10.2307/293895">4th century BCE</a>, these practices were codified as common main meals called <a href="https://doi.org/10.1525/gfc.2017.17.2.51"><em>syssitia</em></a> (meaning “eating together”).</p> <p>These meals were consumed at the end of the day in communal dining halls. Food was served by young boys to tables of 15 or so men who lived together and fought in the same <a href="https://www.perseus.tufts.edu/hopper/text?doc=Perseus%3Atext%3A1999.04.0063%3Aalphabetic+letter%3DS%3Aentry+group%3D5%3Aentry%3Dsyssitia-cn">military division</a>. The men gradually shared generational knowledge with the young boys, who themselves would join the tables by age 20.</p> <p>In the 5th century BCE, Greek historian Herodotus <a href="https://www.penguin.co.nz/books/the-histories-9780140455397">wrote about</a> how <em>syssitia</em> evolved from a Spartan military practice to having deep political meaning in society. Similarly, <a href="https://www.penguin.co.nz/books/the-republic-9780140455113">Plato</a> <a href="https://www.penguin.co.nz/books/the-laws-9780140449846">wrote</a> common meals were an integral component of civil society, and that missing a meal without good reason was a civic offence.</p> <p>By dining in <a href="https://doi.org/10.2307/293895">full view</a> of the rest of society, citizens were compelled to maintain self-discipline. Mealtime was also an opportunity for social linkage, and <a href="https://doi.org/10.1525/gfc.2017.17.2.51">important discussions</a> ranging from business deals to politics.</p> <p>The eating habits of Spartan women are missing in the texts, although it is implied they <a href="https://doi.org/10.1525/gfc.2017.17.2.51">ate at home</a>.</p> <h2>Bunches of lunches</h2> <p>Counter to the tough Spartan way of life, the Romans enjoyed their main meal, <a href="https://www.press.jhu.edu/books/title/1550/everyday-life-ancient-rome?srsltid=AfmBOooVPsJL24HR9woTdVNQwEG1uCU7q0k7r2beD-KD13m0KX-l1dSY"><em>cena</em></a>, earlier in the day, followed by a lighter meal just before bed.</p> <p>The northern European tribes tended towards two larger meals per day, as more <a href="https://doi.org/10.1002/ajpa.23071">sustenance</a> is required in colder climes. To the Vikings, these meals were known as <a href="https://www.historyonthenet.com/what-did-vikings-eat"><em>dagmal</em> and <em>nattmal</em></a>, or day meal and night meal. <em>Nattmal</em> was the cooked evening meal, while <em>dagmal</em> usually consisted of leftover <em>nattmal</em> with the addition of bread and beer or mead.</p> <p>In Australia, evidence suggests Aboriginal peoples tended toward a <a href="https://www.tandfonline.com/doi/full/10.1080/03122417.2022.2089395">daily single meal</a>, which aligns with the predominant method of cookery: slow-cooking with hot coals or rocks in an <a href="https://doi.org/10.1080/03122417.2022.2089395">earth oven</a>. This underground oven, used by Aboriginal and also Torres Strait Islander communities, was referred to as a <a href="https://www.facebook.com/watch/?v=745326709638881&t=0"><em>kup murri</em></a> or <a href="https://www.sbs.com.au/food/the-cook-up-with-adam-liaw/recipe/slow-cooker-kap-mauri/lfza7eqs4"><em>kap mauri</em></a> by some groups.</p> <p>This is similar to other Indigenous preparations throughout the Pacific, such as the New Zealand Māori <a href="https://doi.org/10.1080/15528014.2024.2381305"><em>hāngī</em></a>, Hawaiian <a href="https://www.jstor.org/stable/20707103?seq=1"><em>imu</em></a>, Fijian <a href="https://www.proquest.com/docview/1021389307?accountid=8440&parentSessionId=605Pt1iTclBEC77VSlZvrnxxY%2Bdc7e%2Bx9pT4MgRLPqQ%3D&sourcetype=Dissertations%20&%20Theses"><em>lovo</em></a>, and even the Mayan <a href="https://doi.org/10.1007/s12231-012-9207-2"><em>píib</em></a>.</p> <p>The once-daily meal would have been supplemented with snacks throughout the day.</p> <h2>Three’s the magic number</h2> <p>The timing of meals was heavily influenced by class structure, local climate and people’s <a href="https://www.wiley.com/en-us/Cuisine+and+Culture%3A+A+History+of+Food+and+People%2C+3rd+Edition-p-9780470403716">daily activities</a>. Practicality also played a part. Without reliable lighting, meals had to be prepared and eaten before dark. In settled parts of Northern Europe, this could be as early as 3pm.</p> <p>So how did we go from one or two main meals, to three? The answer may lie with the British Royal Navy.</p> <p>Since its inception in the 16th century, the navy served <a href="https://www.historyhit.com/what-did-sailors-in-the-georgian-royal-navy-eat/">three regular meals</a> to align with the shipboard routine. This included a simple breakfast of ship’s biscuits, lunch as the main meal, and dinner as more of a light supper.</p> <p>Some sources suggest the term “<a href="https://www.grammar-monster.com/sayings_proverbs/square_meal.htm">square meal</a>” may have come from the square wooden trays meals were served in.</p> <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=600&h=455&fit=crop&dpr=1 600w, https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=30&auto=format&w=600&h=455&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=15&auto=format&w=600&h=455&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=45&auto=format&w=754&h=572&fit=crop&dpr=1 754w, https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=30&auto=format&w=754&h=572&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/660040/original/file-20250407-56-xgt2pm.jpg?ixlib=rb-4.1.0&q=15&auto=format&w=754&h=572&fit=crop&dpr=3 2262w" alt="" /></a><figcaption><span class="caption">Initially, sailors recieved a daily gallon of beer with meals. This was later changed to watered-down rum, the infamous ‘grog’, which is being handed out in this 1940 photo taken aboard HMS King George V.</span> <span class="attribution"><a class="source" href="https://www.iwm.org.uk/collections/item/object/205185139">Imperial War Museums</a>, <a class="license" href="http://creativecommons.org/licenses/by-nc/4.0/">CC BY-NC</a></span></figcaption></figure> <p>The <a href="https://www.bbc.com/news/magazine-20243692">Industrial Revolution</a>, which started around 1760, arguably also played a role in formalising the concept of three specific mealtimes across the Western world.</p> <p>The cadence of breakfast, lunch and dinner matched the routine of the longer, standardised workdays. Workers ate breakfast and dinner at home, before and after work, while lunch was eaten with coworkers at a set time.</p> <p>With minimal breaks, and no time for snacking, three substantial meals became necessary.</p> <h2>The fall of the holy trinity</h2> <p>Today, many factors impact the <a href="https://doi.org/10.1016/j.cmet.2015.09.005">time and frequency</a> of our meals, from long work commutes to juggling hobbies and social obligations.</p> <p>The COVID pandemic also impacted how and what we eat, leading us to eat larger amounts of <a href="https://doi.org/10.1016/j.jhealeco.2022.102641">higher calorie foods</a>. The rapid growth of <a href="https://doi.org/10.1017/S1368980020000701">delivery services</a> also means a meal is no more than a few minutes away from most people.</p> <p>All of this has resulted in mealtimes becoming less rigid, with social meals such as <a href="https://rowman.com/ISBN/9781442229433/Brunch-A-History">brunch</a>, <a href="https://www.harpercollins.co.nz/9780261102354/the-fellowship-of-the-ring/">elevenses</a> and <a href="https://rowman.com/ISBN/9781442271029/Afternoon-Tea-A-History">afternoon teas</a> expanding how we <a href="https://doi.org/10.3390/ijerph18126235">connect over food</a>. And mealtimes will continue to <a href="https://doi.org/10.1525/gfc.2013.13.3.32">evolve</a> as our schedules become ever more complicated.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/250773/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em>By <a href="https://theconversation.com/profiles/rob-richardson-2328981">Rob Richardson</a>, Senior Lecturer in Culinary Arts & Gastronomy, <a href="https://theconversation.com/institutions/auckland-university-of-technology-1137">Auckland University of Technology</a> and <a href="https://theconversation.com/profiles/dianne-ma-2331997">Dianne Ma</a>, Lecturer in Culinary Arts & Gastronomy, <a href="https://theconversation.com/institutions/auckland-university-of-technology-1137">Auckland University of Technology</a></em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/our-ancestors-didnt-eat-3-meals-a-day-so-why-do-we-250773">original article</a>.</em></p> <p><em>Image: Shutterstock</em></p> </div>

Food & Wine

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Tragedy on first cruise: Aussie couple’s dream trip ends in heartbreak

<p>What began as a dream getaway for Aussie couple Glenn and Beverley Stein has ended in devastating tragedy, after Glenn, 74, died suddenly during their very first cruise.</p> <p>Described as "humble and hardworking", the couple had never been overseas or on a cruise before. Their four-day voyage from Brisbane to Airlie Beach, a generous gift from their son after a lucky windfall, was meant to be a long-overdue escape for the pair, who had spent more than 50 years side by side.</p> <p>"They had never been on a cruise before, never even been overseas," daughter-in-law Sarah <a href="https://au.news.yahoo.com/carnival-cruise-passengers-8500-blow-after-on-board-tragedy-they-didnt-realise-033649566.html" target="_blank" rel="noopener">shared with Yahoo News</a>. "One of their sons won some money so he thought it might be nice to buy them a cruise."</p> <p>According to Sarah, the couple were thoroughly enjoying their time onboard. But just a few days into the trip, Glenn began to feel unwell, suspecting it was merely “a bit of food poisoning”. True to their no-fuss nature, the Steins tried not to worry and went to bed, assuming he would feel better by morning.</p> <p>Tragically, Beverley awoke the next day to find Glenn unconscious. In shock, she raised the alarm with the ship’s housekeeping staff, who immediately called the onboard medical team. “The staff were amazing. We’ve got a 43-page report detailing all the care they gave him," Sarah said, commending the cruise medical team for their efforts and support during the ordeal.</p> <p>Glenn’s condition rapidly deteriorated. Doctors soon discovered he was suffering from a life-threatening strangulated hernia, requiring emergency surgery. As they awaited an airlift to Bundaberg Hospital, the crew urged Beverley to speak with her husband and prepare for the worst.</p> <p>Even aboard the emergency helicopter, Glenn’s health continued to fail. Once at the hospital, paramedics warned the couple’s children, already en route, to call in immediately.</p> <p>“They managed to speak to Glenn, which was really nice,” Sarah said. Heartbreakingly, just minutes later, when Sarah and her husband tried to call, they were told Glenn had passed away. "He had literally just passed away as soon as they got off the phone."</p> <p>Adding to the family's anguish, they soon discovered that because Glenn and Beverley had unknowingly crossed into international waters, and hadn't purchased travel insurance, Beverley was left facing an $8,500 medical bill.</p> <p>“This was their first cruise; they didn’t realise it was actually out of Australian waters,” Sarah explained, calling the experience a “cautionary tale” for other travellers. While understanding of the fees, the family is now hoping the cruise company might show some compassion and reduce the amount.</p> <p>Loved ones have <a href="https://www.gofundme.com/f/help-bev-after-the-sudden-loss-of-her-beloved-husband-glenn?cdn-cache=0" target="_blank" rel="noopener">launched a GoFundMe</a> to help cover the medical costs and funeral expenses. "Bev is not only grieving the loss of her life partner but is now also facing overwhelming financial pressure," the family wrote. "Any contribution, no matter how small, will go directly toward covering the significant costs associated with Glenn’s passing and supporting Bev as she begins to navigate life without him."</p> <p>Despite their grief, the family has found bittersweet moments of humour in the aftermath. “It’s really funny,” Sarah recalled, “his daughter mentioned, ‘Dad always said he never wanted a fuss and just wanted to go quietly,’ and it’s ended up being a helicopter out and on the news – so he couldn’t have been more dramatic."</p> <p>As they rally around Beverley, the Steins’ loved ones hope their story will serve as a reminder of the importance of travel insurance — and of cherishing every moment with the ones you love.</p> <p><em>Images: GoFundMe</em></p>

Cruising

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Stunning prediction for Aussie homeowners in wake of Trump's trade war

<p>Australian homeowners could see their mortgage repayments tumble by as much as $9,000 annually if Donald Trump’s escalating trade war triggers a global recession, with experts predicting a double interest rate cut as soon as May.</p> <p>As stock markets worldwide reel from the fallout of Trump’s latest trade moves – with China now deeply involved – fears of a US recession are intensifying. On Monday alone, around $100 billion was wiped from the Australian share market amid growing global trade tensions.</p> <p>Yet, for Australian mortgage holders, there could be a surprising silver lining. According to ANZ, homeowners with a $600,000 loan could save between $76 and $156 a month under four forecasted rate cuts of 0.25 per cent each over the next year.</p> <p>For those with a $500,000 mortgage, repayments could fall by about $76 a month, while families with larger $1 million loans could pocket savings of around $153 monthly – amounting to a staggering $9,000 annually.</p> <p>ANZ’s chief economist, Richard Yetsenga, said the Reserve Bank of Australia (RBA) is expected to cut rates in May, July and August.</p> <p>“We now expect the RBA to ease in May, July, and August – 25 basis points at each meeting,” Yetsenga said, adding that a double rate cut of 50 basis points in May is not off the table if global growth deteriorates further.</p> <p>Earlier this year, the RBA trimmed the cash rate by 25 basis points in February, offering homeowners with variable rate loans some relief – saving them around $100 to $150 a month, or potentially more than $1,200 annually.</p> <p>In a stunning prediction, Treasurer Jim Chalmers echoed these forecasts while hinting at up to four interest rate cuts this year, with the potential for a significant 50 basis point cut as early as next month.</p> <p>“The next Reserve Bank interest rate cut in May might be as big as 50 basis points,” Chalmers said. “Forecasting is difficult enough in stable times, but even more so in uncertain times.”</p> <p>Despite the grim outlook for markets, Chalmers offered reassurance, especially for Australians nearing retirement whose superannuation balances are being rocked by market volatility.</p> <p>“Everyone with a super fund, everyone with shares, probably every Australian, is watching the global markets with trepidation,” Chalmers said. “But we are better placed, better prepared, and Australians should take comfort in that.”</p> <p>The Treasurer also voiced concerns about the impact of the trade war on Asia, noting that tariffs are hitting countries like Malaysia, Thailand and Vietnam particularly hard, while China’s economy may prove more resilient. ANZ expects Asian currencies to take the brunt of the adjustment as the tariffs unfold.</p> <p>While uncertainties loom large, for Aussie homeowners at least, the prospect of falling interest rates offers some financial relief in an increasingly unpredictable global economy.</p> <p><em>Images: Youtube</em></p>

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Financial markets are tanking. Here’s why it’s best not to panic

<div class="theconversation-article-body"> <p>Financial markets around the world have been slammed by the Trump adminstration’s sweeping tariffs on its trading partners, and China’s swift retaliation.</p> <p>Share markets have posted their biggest declines since the COVID pandemic hit in 2020, as fears of US recession surged. Iron ore, copper, oil, gold and the Australian dollar have all tumbled.</p> <p>On Wall Street, <a href="https://www.reuters.com/markets/sp-500-loses-24-trillion-market-value-biggest-one-day-loss-since-2020-2025-04-03/">leading indices</a> have fallen around 10% since the tariffs were announced, while the tech-heavy Nasdaq is down 20% from its recent peak. European and Asian markets have also slumped.</p> <p>In Australia, the key S&amp;P/ASX 200 slid another 4.2% on Monday to levels last seen in December 2023, taking its three-day losses since the announcement to more than 7%.</p> <hr /> <p><iframe id="AJ2rZ" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/AJ2rZ/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <hr /> <h2>Why are markets reacting so badly?</h2> <p>Financial markets reacted so negatively because the tariffs were much larger than expected. They represent the <a href="https://www.abc.net.au/news/2025-04-05/trump-tariffs-upend-80-year-old-world-economic-order/105139464">biggest upheaval</a> in global trade in 80 years.</p> <p>Many traders were hoping the tariffs would be used mainly as a bargaining tool. <a href="https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-digs-in-says-markets-may-have-to-take-medicine-as-stock-futures-plunge-191201959.html">But comments</a> by US President Donald Trump that markets may need to “take medicine” seem to suggest otherwise.</p> <p>The tariffs are expected to weaken economic growth in the US as consumers pare back spending on more expensive imports, while businesses shelve investment plans. Leading US bank JP Morgan has put the <a href="https://www.reuters.com/markets/jpmorgan-lifts-global-recession-odds-60-us-tariffs-stoke-fears-2025-04-04/">chance of a US recession</a> as high as 60%.</p> <p>This comes at a time when the US economy was already looking fragile. The highly regarded GDPNow model developed by the <a href="https://www.atlantafed.org/cqer/research/gdpnow">Atlanta Federal Reserve Bank</a> indicates US March quarter GDP will fall 2.8%, and that was before the tariff announcement.</p> <h2>Worries about global growth</h2> <p>Fears of a recession in the United States and the potential for a global downturn has led to a broad sell-off in commodity prices, including iron ore, copper and oil. Further, the Australian dollar, which is seen as a barometer for risk, has <a href="https://wise.com/au/currency-converter/currencies/aud-australian-dollar">fallen below 60 US cents</a> in local trading – its lowest level since 2009.</p> <p>While the direct impact of tariffs on Australia is expected to be modest (with around 6% of our exports going to US), the indirect impact could be substantial. China, Japan and South Korea together take more than 50% of Australia’s exports, and all have been hit with significantly higher tariffs.</p> <p>Treasurer Jim Chalmers said on Monday that the direct impact on the Australian economy would be “<a href="https://www.abc.net.au/news/2025-04-07/asx-markets-business-news-live-updates/105144276">manageable</a>”.</p> <p>The full effect on Australia will depend on how other countries respond, and whether we can redirect trade to other markets.</p> <p>The rapid decline in the Australian dollar will help offset some of the negative effects associated with a global downturn and the fall in commodity prices.</p> <p>We can also expect some interest-rate relief. Economists are now predicting <a href="https://www.afr.com/markets/debt-markets/traders-expect-up-to-five-rba-rate-cuts-amid-market-turmoil-this-year-20250407-p5lpo0">three further interest rate cuts</a> by the Reserve Bank, starting in May. This brings economists into line with financial market forecasts.</p> <h2>Hang in there, markets will recover</h2> <p>Watching equity markets tumble so dramatically can be unsettling for any investor. However, it is important to note that equity markets have experienced many downturns over the past 125 years due to wars, pandemics, financial crises and recessions. But these market impacts have generally been temporary.</p> <hr /> <p><iframe id="lsNFF" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/lsNFF/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <hr /> <p>History suggests that over the long term, equity prices continue to rise, supported by growing economies and rising incomes.</p> <p>The key thing for investors to remember is to not panic. Now is not the time to decide to switch your superannuation or other investments to cash. This risks missing the next upswing while also crystallising any current losses.</p> <p>For example, despite the steep market sell-off in March 2020 as the first COVID lockdowns came into effect, the Australian share market had completely recovered those losses by June 2021.</p> <p>It is good practice for investors to regularly reassess their risk profile to make sure it is right for their current stage of life. This means reducing the allocation to riskier assets as investors get closer to retirement age, while also maintaining a cash buffer to avoid having to sell assets during more turbulent periods such as now.</p> <h2>Super funds are exposed to global risks</h2> <p>The current sell-off has highlighted a potential issue facing the superannuation industry.</p> <p>So much of our superannuation is now invested in global equity markets, mostly in the US, because Australia’s <a href="https://www.abc.net.au/news/2025-04-02/australia-superannuation-retirement-savings/105098840">superannuation savings pool</a> – at more than A$4 trillion – has outgrown the investment opportunities available in Australia.</p> <p>Another issue facing the superannuation industry is the growth of cyber attacks, with several funds <a href="https://theconversation.com/hackers-have-hit-major-super-funds-a-cyber-expert-explains-how-to-stop-it-happening-again-253835">targeted in a recent attack</a>. Given the massive size of the assets held by some funds, it would seem they need to improve their security to be on par with that of the banking system.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/253929/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em>By <a href="https://theconversation.com/profiles/luke-hartigan-1491669">Luke Hartigan</a>, Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/financial-markets-are-tanking-heres-why-its-best-not-to-panic-253929">original article</a>.</em></p> <p><em>Image: Shutterstock</em></p> </div>

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