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Ian Thorpe allegedly scammed out of six-figure sum

Australian Olympic legend Ian Thorpe has reportedly fallen victim to a scam involving a significant financial loss, with police confirming an investigation is underway into an alleged theft incident. The five-time Olympic gold medallist, known affectionately as Thorpedo, was seen at Paddington Police Station in Sydney’s eastern suburbs on Thursday afternoon, reportedly to file a complaint relating to an insurance matter. In a statement, New South Wales Police said: “A 42-year-old man attended Paddington Police Station to report an alleged theft incident. Officers attached to Eastern Suburbs Police Area Command have commenced an investigation. There is no further information available at this time.” Radio host Ben Fordham broke the news on 2GB, revealing that Thorpe had spent an extended period at the station. “It turns out that Thorpey has reported to police that he’s a victim of crime, and it’s not a small financial setback either,” Fordham said. “We believe that he’s in the red to the tune of $150,000.” At this stage, it is unclear whether the alleged scam occurred online or in person. Thorpe’s manager, James Erskine, confirmed that the swimmer had visited police in relation to an “insurance job”, a detail Fordham suggested may point to a potential robbery. Now 42, Thorpe remains a prominent figure in Australian sport and media, having transitioned to commentary roles following his retirement from competitive swimming. He was last reported to be living in Sydney’s eastern suburbs, with his Woollahra townhouse listed for sale late last year. Police inquiries are ongoing. Images: Shutterstock / Instagram

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Major bank announces huge home loan rate cut

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. 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. 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. “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.” 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. 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. “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.” 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. 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%. 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. 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. Image: Supplied

Money & Banking

RBA cuts interest rate - so what happens now?

<div class="theconversation-article-body"> 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. 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. 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. 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. <blockquote> 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. </blockquote> <h2>Inflation is back under control</h2> 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. 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. 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. <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> 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. 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. <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> <h2>Unemployment remains low</h2> 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. 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. <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> <h2>Households and businesses may turn cautious</h2> 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. Underlying inflation is forecast to stay around the middle of the target band throughout. 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: <blockquote> 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. </blockquote> The unemployment rate is expected to increase to 4.3% by the end of the year and remain there through 2026. Cost of living pressures look set to ease, as real household disposable income grows faster than population. As the Reserve Bank governor told a media conference on Tuesday: <blockquote> 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. </blockquote> <h2>Economic and policy ‘unpredictability’</h2> 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. “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. 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. 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. 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. <h2>Where will interest rates go from here?</h2> 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. 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 expects to do. It is certainty not a promise of what they will do. 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.<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" /> 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> 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>. Image: Sky News </div>

Money & Banking

Outrage after shirtless man knocks out 92-year-old woman

In a horrifying broad daylight attack that has shaken the Williamstown community southwest of Melbourne, CCTV footage has captured the moment a shirtless man allegedly knocked a 92-year-old woman unconscious outside a busy shopping centre. The unprovoked incident occurred just after midday, as the elderly woman was walking along Douglas Parade in Williamstown. According to Victoria Police, a shirtless man approached her and suddenly swung his arm, striking her in the head. The blow sent the woman crashing to the pavement, rendering her unconscious. Disturbing CCTV vision shows the man calmly walking away from the scene as the elderly victim lies motionless on the ground. Witnesses can be seen rushing to her aid moments later, with some members of the public reportedly restraining the man until police arrived. Ambulance Victoria confirmed the woman was transported to hospital in a stable condition. Miraculously, her injuries are not considered life-threatening. In a statement later released from her hospital bed, the woman expressed deep gratitude to those who came to her aid. "I wish to thank all those who have been so caring of me," she said. "I remember nothing of the actual incident, but when I woke up, I was surrounded by the police and ambulance and caring onlookers. I wish to thank everyone for their concern. I'm pleased to go home as I have a loving family and supportive friends." The alleged attacker, a 39-year-old man with no fixed address, was arrested on the scene and has since been charged with intentionally causing injury. Police are continuing their investigation and are urging anyone who witnessed the attack or has further footage to come forward. Images: Victoria Police

Caring

"She was my everything": Audrey Griffin's heartbroken mother speaks out

What began as an ordinary night out with friends ended in a tragedy that shattered a family, stunned a community, and prompted a determined mother to fight for answers no one else seemed to be asking. Audrey Griffin, 19, was <a href="https://www.oversixty.com.au/health/caring/beloved-aussie-athlete-found-dead-at-just-19" target="_blank" rel="noopener">found dead in Erina Creek</a> on the Central Coast of New South Wales last month. Her fully clothed body was discovered partially submerged in the water on March 23, just hours after she was reported missing. Initially, police deemed her death non-suspicious, possibly a tragic accident. But her mother, Kathleen Kirby, refused to accept that explanation. “It’s like you can’t breathe, it’s like you don’t want to breathe,” <a href="https://7news.com.au/news/mother-speaks-of-heartbreaking-loss-after-alleged-murder-of-teen-audrey-griffin-on-nsw-central-coast-c-18457494" target="_blank" rel="noopener">Kirby told 7NEWS</a>, speaking publicly through her grief. “But I needed to find the strength because I wasn’t satisfied with what the outcome was, so I kept going.” Kirby’s instincts proved tragically accurate. On Monday, NSW Police arrested 53-year-old Adrian Torrens and <a href="https://www.oversixty.com.au/finance/legal/murder-charge-laid-after-death-of-19-year-old-ironwoman" target="_blank" rel="noopener">charged him with Audrey’s murder</a>. Torrens, who police say had no prior connection to Audrey, is also facing 11 unrelated domestic violence charges. Authorities now allege a violent altercation occurred between the two as Audrey was walking home. Torrens’ lawyer appeared in court on his behalf Tuesday; he did not apply for bail. His case has been adjourned until next month. Superintendent Darryl Jobson said that while early forensic and post-mortem findings did not initially indicate foul play, the case remained open due to “unusual circumstances”. “Getting answers for the family was front of mind,” Jobson said. “New information from other sources led us to reconsider and launch a full homicide investigation.” Kirby, driven by a mother’s intuition and unrelenting love, was at the centre of that push for the truth. “My head and my gut were telling me different,” she said. Now, as police pursue justice, a mother mourns the unimaginable loss of her only child. “She was more than my world, she was my everything,” Kirby said through tears. “She’s just everything that you’d ever imagine, or want, for a child.” Audrey was much more than a statistic or a headline. She was a triathlete, a teammate, a leader and a beloved friend. Just weeks before her death, she competed in New Zealand’s ANZCO Foods Half Ironman, finishing 23rd in her age group. She played water polo for Gosford, patrolled beaches with the Terrigal Surf Life Saving Club, took to the field with the Terrigal Sharks, and once served as vice-captain of Central Coast Sports College. “She touched the hearts of so many people and always had a smile,” one friend wrote on social media. “Her laugh was contagious and her goofy self always made us laugh. Audrey, you are truly loved by so many people.” Now, those same people are left grieving a life stolen too soon, and honouring a young woman whose courage, kindness and spirit made the world brighter – if only for a short time. For Kirby, the fight for answers has turned into the deeper, longer journey of navigating life without her daughter. “I will never feel whole again,” she said. Images: 7NEWS

Caring

Parents whose newborn died at Northern Beaches Hospital speak out

The grieving parents of a newborn who died following a series of medical delays at Sydney’s Northern Beaches Hospital say their daughter’s death was “completely avoidable” – and are calling for the facility to be returned to full public control. Harper Atkinson died in February, a day after experiencing severe complications at birth at the 488-bed hospital, which operates under a controversial public-private partnership model. Her parents, Leah Pitman and Dustin Atkinson, believe she could have been saved if urgent care had been available when it was needed most. “She should be here. She should be in our arms,” Leah <a href="https://www.abc.net.au/news/2025-04-16/harper-atkinson-death-northern-beaches-hospital-parents-speak/105180276" target="_blank" rel="noopener">told ABC’s 7.30</a>. “But she’s not – and it’s because there was no urgency. No theatre ready. No proper staffing. And now we’ve lost her.” Harper’s death is the second tragedy in recent months to put Northern Beaches Hospital under scrutiny. In September 2024, toddler Joe Massa collapsed and later died after a three-hour wait in the hospital’s emergency department. Healthscope, the private operator of the facility, admitted that was an “unacceptable failing”. The NSW government has since vowed never to repeat the public-private model used at the hospital, which serves around 350,000 people on Sydney’s northern beaches. Leah was initially sent home from the hospital on a Friday due to staff shortages. She returned the next evening after going into labour at home. Though her midwife had prepared a bath for a water birth, things quickly went wrong. “I felt this intense pain in my lower back, and then my waters broke – with blood,” Leah recalled. “I looked down and just thought, ‘Oh God, is that normal?’” By 9:30pm, concern was mounting. But it wasn’t until around 10:30pm that an obstetrician arrived and diagnosed a suspected placental abruption – a life-threatening condition for both mother and baby. He immediately called for a Category One caesarean section, the most urgent level of surgical intervention. But despite the emergency, Leah was left waiting. “They kept saying, ‘Theatre’s not ready. Theatre’s not ready,’” she said. “I assumed it was busy. We later found out there is no 24/7 theatre.” Northern Beaches Hospital operates its operating theatre using an on-call model on weekends. Staff must be within 30 minutes’ reach – a delay Leah and Dustin believe cost their daughter her life. “I was on the operating table 33 minutes after the call,” Leah said. “Harper wasn’t delivered until nearly an hour after the emergency was declared.” When she was born at 11:52pm, Harper was unresponsive. It took 21 agonising minutes before she drew her first breath. The following day, Leah and Dustin were told Harper would not survive. They made the heartbreaking decision to turn off her life support. “I should be holding her for the rest of my life, not just once,” Leah said through tears. “Once isn’t enough.” The family says they were told during a hospital debrief that it was not “economically feasible” to run a 24/7 theatre service. For Dustin, that explanation only deepened their pain. “Prioritising profit over healthcare. That’s what went wrong,” he said. Northern Beaches Hospital has launched a review into Harper’s death. But her parents say the issue is already painfully clear. “Time delays,” Leah said. “Things weren’t urgent enough.” The couple is now calling for the hospital to be brought fully back under public control – and for systemic change in how emergency obstetric care is delivered across the state. “I feel incredibly angry,” Leah said. “Her death, we feel, was completely avoidable.” “We’re sharing this because Harper deserves to be more than just another sad story,” she added. “We want change – so this never happens to another family.” Image: YouTube / ABC

Caring

Outrage as school allows students to opt out of Anzac Day service

A public primary school in Sydney’s northwest has sparked controversy after allowing students to opt out of its upcoming Anzac Day service. The decision by Sherwood Ridge Public School has drawn criticism from parents, veterans and community leaders, who argue that all students should recognise the sacrifices made by Australia’s service members. Principal Jody Sullivan recently emailed parents, requesting that they inform the school if they did not want their children to attend a commemorative assembly scheduled for April 10. The move was aimed at accommodating a small group of Christian students whose families object to commemorating war due to their religious beliefs. The announcement was met with strong condemnation, particularly from veterans and advocacy groups. Former commando and RSL NSW President Mick Bainbridge responded by <a href="https://www.dailymail.co.uk/news/article-14557953/Anzac-Day-Sherwood-Ridge.html" target="_blank" rel="noopener">telling Daily Mail Australia</a>, “Anzac Day is not a celebration of war; in fact, it commemorates the horrors of war and ensures the sacrifices of those who served and died are never forgotten. Our young people learn about Australia’s proud military past.” Less than a dozen students will be supervised in alternative learning activities while the rest of the school participates in the assembly. Despite the limited scope of the decision, many feel it still sets a troubling precedent. Veteran Advocacy Australia branded the move as “disgusting” and called on NSW Premier Chris Minns to intervene. Former NSW Veterans Affairs Minister David Elliott also criticised the decision, stating, “It really is an insult to the families of the 100,000 who died for this country.” Parents took to social media to express their dismay, with one mother writing, “Honouring and remembering those that have fought and lost their lives to keep us safe has nothing to do with religion.” Another parent argued, “This is not commemorating war; it is remembering those who gave their all to keep this country free.” The NSW Department of Education has since responded, reaffirming its expectation that all public schools commemorate Anzac Day with memorial ceremonies. Secretary Murat Dizdar stated, “Our students are required to learn about the importance of Anzac Day and the sacrifice our servicemen and women made, and continue to make, as part of their regular lessons.” While Sherwood Ridge Public School has acknowledged that its message could have been communicated more selectively, the backlash as the nation prepares to mark the 110th anniversary of the Gallipoli campaign serves as a stark reminder of the ongoing debate about how Anzac Day should be observed in schools. Images: Supplied

Legal

"It's not our way": Young Indigenous woman speaks out against Acknowledgment of Country

A young Indigenous woman has sparked controversy by criticising the Acknowledgement of Country, claiming the practice is 'made up' and not representative of Indigenous Australian culture. Kiescha Haines Jamieson was asked on social media whether the formal observation is an 'actual traditional practice' or a 'modern white saviour thing'. 'It is a made up protocol by Reconciliation Australia,' she claimed. 'It's not culture. It's not our way.' The Acknowledgement of Country is a relatively recent practice, emerging in the 1990s during what the Keating Government called 'the Reconciliation Decade'. It was formalised as part of efforts to improve Indigenous-state relations, with former Labor senator and Yawuru man Pat Dodson playing a key role in its establishment. 'The work of the Council for Aboriginal Reconciliation encouraged strangers to recognise country, then, as people got stronger, the welcome developed,' Dodson explained. The practice is distinct from a Welcome to Country, which is a ceremony performed by a traditional owner to formally welcome visitors to their land. Acknowledgement of Country, by contrast, is often delivered by non-Indigenous people or organisations to recognise traditional owners. Ms Jamieson argued that the practice has now been 'institutionalised to make people think that it is our culture'. Her comments resonated with some social media users, who agreed that the protocol was 'made up'. 'Finally someone with the guts to tell the truth,' one user wrote. However, others pushed back, arguing that acknowledging country has deep cultural significance for some Indigenous groups. 'It's a traditional thing for our mob, but not as grand as it's shown on TV,' one commenter noted. 'It's not really a welcome, it's more like a way to notify the spirits and ancestors that mob are travelling.' Another person added: 'You don't speak for all mobs and you don't speak for mine.' Yawarllaayi/Gomeroi elder Barbara Flick Nicol has previously stated that welcoming and acknowledging visitors has existed for thousands of years in Aboriginal and Torres Strait Islander communities. 'It's always been something that we did as a people, understanding and observing the fact that when you are in somebody else's country, that you acknowledge them,' she told NITV in 2020. Ms Flick Nicol said that formal acknowledgments began appearing in New South Wales after the landmark Mabo decision in 1992, with councils raising Aboriginal flags and formally recognising traditional owners at meetings and conferences. Former federal politician and Wiradjuri woman Linda Burney, who was involved in the Council for Aboriginal Reconciliation, defended the practice, saying it evolved organically. 'It wasn't strategised or planned. Once it got out to civic life it was something that people saw as an important way to tell the truth of the Australian story,' she said. Images: Instagram

Legal

"Frankly, it's pathetic": The Project hosts lash out at wombat snatcher

The hosts of The Project have lashed out at US hunting influencer Sam Jones after she pulled out of a scheduled interview at the last minute. Jones, <a href="https://www.oversixty.com.au/finance/legal/wombatgate-explodes" target="_blank" rel="noopener">who sparked outrage</a> by snatching a baby wombat from its mother and sharing a video of the incident with her 92,000 Instagram followers, has faced further condemnation for her recent actions. Jones was set to appear on The Project on Sunday night to answer tough questions from the panel but instead opted to provide a pre-recorded video statement. The decision did not sit well with host Hamish Macdonald, who described it as "pathetic". <a href="https://www.oversixty.com.au/lifestyle/family-pets/outrage-should-not-be-selective-wombat-snatcher-speaks-out" target="_blank" rel="noopener">In her video message</a>, Jones apologised for her actions but also took aim at the Australian government for allowing farmers to kill wombats. "It was an incredible mistake, and there hasn't been a moment I haven't regretted it," she stated. However, she then shifted the blame, saying, "The same government that is calling for my head is the one that spends millions of your tax dollars to mass slaughter native Australian animals." Jones later posted a statement on Instagram about the controversy. Addressing the audience, Hamish Macdonald said, "I think we probably just need to be totally straight and honest with you at home, we were all here earlier this afternoon to do an interview with her and ask her questions, but she pulled out of that and instead provided that video statement. I think, frankly, it's pathetic, given what's happened." He continued, "Obviously, no one condones violence or threats of violence or any of the things that have been thrown her way, but honestly, to say you're 'genuinely sorry' but not be willing to explain yourself, and then point the finger at the Australian government – I think it's pretty lousy." Co-host Sarah Harris then chimed in, saying, "I think the infuriating stuff came in her apology afterwards, where she said, 'Oh you know, the Australian government allows the slaughter of wombats.' It's just not true. We know that wombats are protected here." Harris pointed out that offenders harming a wombat could face fines of up to $40,000 and two years in prison. Macdonald then doubled down on his criticism, calling Jones' statement "riddled with misinformation". He added, "This is typical of influencers. They only want to make their own statements to the world, with no responsibility or accountability. The reality is, there's been a strong public response because Australians are proud of their wildlife and the incredible nature that we have." Following Jones' decision to cancel her interview, viewers of The Project quickly took to social media to voice their disapproval. One Facebook user wrote, "Sounds like, 'Sorry, not sorry'." Another commented, "She is only sorry she got caught," while a third remarked, "Typical American turning this whole wombat episode into an Australian political error. She needs to get her FACTS straight." Jones has yet to respond to the fresh wave of criticism, but the backlash against her actions and response shows no signs of dying down. Images: Instagram / The Project

"Outrage should not be selective": Wombat snatcher speaks out

After Sam Jones, the US tourist and influencer with a penchant for questionable decision-making, managed to unite Australians in collective outrage by <a href="https://www.oversixty.com.au/finance/legal/wombatgate-explodes" target="_blank" rel="noopener">snatching up a baby wombat</a> and posting it to Instagram, she has since fled the country and is now broadcasting her redemption arc from an undisclosed overseas location. “I will learn from this moment, and move forward. I accept accountability for my own actions, yet refuse to be used as a scapegoat for a far greater, far more uncomfortable reality,” she said in a video statement. And to be honest, she may have a point. While Australians were busy sharpening their pitchforks, Jones decided to flip the script. But instead of doubling down on her wombat-related blunder, she’s turning the outrage into a broader conversation about Australia’s wildlife management. “If this situation has proven anything, it’s that Australians care deeply about their wildlife – and that is something I intensely admire,” she said, presumably while updating her LinkedIn profile to include “Wombat Awareness Advocate”. Jones highlighted that in 2023 alone, over 1.2 million native animals were legally culled in Australia, including 3,558 wombats, 580,695 native birds, and 419,120 kangaroos and wallabies. Suddenly, her temporary wombat custody battle seems downright insignificant. And she’s not wrong - Australia’s track record with wildlife is complicated. We have a long history of government-sanctioned animal culls, from the infamous emu war (which the emus won, by the way) to the more recent permits allowing landowners to eliminate endangered species deemed inconvenient. Five years ago, a South Australian landholder was granted permission to kill 200 rare hairy-nosed wombats before having a change of heart. Meanwhile, New South Wales’ most crucial population of koalas is being displaced by development, and even Tasmania’s black swans aren’t safe from culling laws. “Consider applying the same momentum used to condemn me toward examining the laws that allow for the legal slaughter of the very species and wombats people so deeply wish to protect,” Jones urged. “Outrage should not be selective.” Again, she has a point. Outrage shouldn’t be selective – though, ideally, neither should common sense. So while Sam Jones may have momentarily confused a wombat for a TikTok prop, she’s also inadvertently shone a light on a bigger issue. Whether we are willing to pivot our anger from one rogue tourist to an entire government policy, however, remains to be seen. One thing is certain: that baby wombat will grow up with an incredible story to tell. Images: Instagram

Family & Pets

Official interest rates have been cut, but not everyone is a winner

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/isaac-gross-737430">Isaac Gross</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> The Reserve Bank’s decision to cut interest rates for the first time in four years has triggered a round of celebration. Mortgage holders are cheering the fact their monthly repayments are now slightly lower, while the Albanese government hopes the small easing in the cost of living will <a href="https://theconversation.com/view-from-the-hill-will-albanese-opt-for-an-april-election-now-a-rate-cut-has-him-breathing-more-easily-250136">lift voters’ moods</a>. This is despite the Reserve Bank’s warnings that <a href="https://theconversation.com/the-reserve-bank-has-cut-rates-for-the-first-time-in-four-years-but-it-is-cautious-about-future-cuts-249704">further rate cuts may not eventuate</a>, depending on how much further progress is made on taming inflation. But it’s important to remember not everybody benefits from an interest rate cut. Some will be worse off. <h2>Savers lose out</h2> Not all Australian households are net borrowers. Many are net savers, retirees or prospective homebuyers, who actually lose out when rates fall. For starters, <a href="https://www.rba.gov.au/publications/fsr/2024/sep/contents.html">only about a third of households</a> are in hock to the banks when it comes to a monthly mortgage repayment. Another third of households have paid off their mortgage entirely, and so don’t benefit from a reduction in mortgage interest rates. And the remaining third are renters, who also don’t pay a mortgage. So while this news is generally a good thing for borrowers, a fall in mortgage rates only directly benefits a minority of households. Here are some of the ways lower interest rates might actually hurt rather than help the typical Australian household. <h2>Higher house prices</h2> One of the most immediate effects of lower interest rates is their impact on the housing market. With cheaper borrowing costs, more buyers can afford larger loans, bidding up house prices. This is great if you already own a home, but terrible if you’re still trying to buy one. For young Australians locked out of home ownership, a rate cut makes things even harder. It drives prices higher, forcing prospective buyers to stretch their finances further just to get a foot in the market. <a href="https://www.rba.gov.au/speeches/2024/sp-ag-2024-05-16.html">Reserve Bank calculations </a> suggest that, in the long run, higher house prices from lower rates can outweigh the benefit of lower mortgage repayments. <h2>Lower returns on savings</h2> If you’re a saver rather than a borrower, interest rate cuts are unequivocally bad news. Whether you’re saving for a home deposit, retirement, or just an emergency fund, lower rates mean you earn less on your bank deposits. The money in your savings account is now growing more slowly, making it harder to build wealth over time. Indeed, more than 20 banks actually cut their term deposit rates in advance of the Reserve Bank’s decision on Tuesday, according to <a href="https://www.canstar.com.au/home-loans/banks-slash-term-deposit-rates-february-2025/">Canstar research</a>. Analysis of HILDA data, <a href="https://www.rba.gov.au/publications/bulletin/2020/jun/household-wealth-prior-to-covid-19-evidence-from-the-2018-hilda-survey.html#:%7E:text=The%20HILDA%20Survey%20is%20a,observation%20available%20is%20for%202018.">which surveys household wealth and income</a>, suggests net savers tend to be younger households without property, retirees living off savings, and those who are not in full-time employment. For these groups, lower rates mean less income and fewer financial opportunities. <h2>Retirees will feel the squeeze</h2> Many <a href="https://www.rba.gov.au/publications/bulletin/2012/dec/pdf/bu-1212-3.pdf">retirees rely on income</a> from interest-bearing assets such as term deposits or cash savings. When rates fall, their returns shrink. The cost-of-living crisis has made it harder for retirees on a fixed income to fund their lifestyles, and a rate cut only makes things worse. While some retirees have exposure to the stock market via superannuation, many prefer the stability of cash savings. With rates falling, they face the tough choice of either reducing their spending or taking on more investment risk in their old age. <h2>Bad news for the dollar, and overseas travellers</h2> When the Reserve Bank cuts rates, it tends to <a href="https://www.rba.gov.au/education/resources/explainers/drivers-of-the-aud-exchange-rate.html">weaken the Australian dollar</a>. A weaker dollar makes overseas travel more expensive for Australians. That pint of beer in London, that piña colada in Puerto Rico, or that shopping trip to New York all become pricier. For Australians planning international holidays, rate cuts are a blow. A strong Australian dollar makes travel cheaper, and lower rates work against that. So while mortgage holders might celebrate, anyone hoping to travel overseas finds themselves worse off. <h2>More expensive imports</h2> Just as a weaker Australian dollar makes travel more expensive, it also increases the cost of imported goods. And Australia imports a lot – especially cars and petrol. Since the closure of domestic car manufacturing, all new vehicles sold in Australia are imported. Petrol, the second-largest import, is also sensitive to currency fluctuations. When the Australian dollar weakens due to lower interest rates, the cost of these essential goods rises. For the millions of Australians who rely on their cars for daily life, this is a significant financial burden. This isn’t to say rate cuts don’t benefit a large portion of Australians. Anyone with a significant mortgage debt will find themselves with lower monthly repayments, and that’s undoubtedly a financial relief. But the public narrative around interest rates tends to treat cuts as a universal good, ignoring the many Australians who are left worse off. Falling interest rates are a sign the high inflation that has caused the cost-of-living crisis has abated. That is <a href="https://www.rba.gov.au/media-releases/2025/mr-25-03.html">an economic success</a> that ought to be celebrated. But that now rates are falling again, we should at least acknowledge the costs that come with them.<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/250140/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> By <a href="https://theconversation.com/profiles/isaac-gross-737430">Isaac Gross</a>, Lecturer in Economics, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> 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/official-interest-rates-have-been-cut-but-not-everyone-is-a-winner-250140">original article</a>. Image: Shutterstock </div>

Money & Banking

"Like a bolt out of the blue": Ray Hadley shares sad family news

Veteran broadcaster Ray Hadley has shared heartbreaking news about his three-year-old granddaughter, Lola, who has been diagnosed with leukaemia. In a deeply emotional video posted to Facebook, the 70-year-old former 2GB radio host revealed that Lola was diagnosed on January 6, describing the moment as "like a bolt out of the blue". Having spent years supporting charity events as an auctioneer, Hadley is no stranger to the hardships families endure when faced with childhood illness. Now, he and his family are experiencing those challenges firsthand. “The journey we’ve endured over the last seven weeks has been... I guess, in many parts, agonising, and in other parts, enlightening – enlightening because of the courage and bravery shared by my granddaughter, Lola,” Hadley said in the video. The toddler faces a tough two-year battle ahead, undergoing intense treatment. “It’s a two-year battle... this little baby girl has had a lumbar puncture yesterday, that’ll be her seventh, she’s had a biopsy and bone marrow six times all under general anaesthetic,” he explained. Hadley went on to describe the physical toll on his granddaughter, who is receiving four chemotherapy treatments a week. “She’s got tubes coming out of her left, right and centre... they attacked the leukaemia and the tests came back a week ago which weren’t as good as we hoped, so now they’ve really doubled down,” he said. As a grandfather of seven, Hadley is fully devoted to supporting Lola through her fight. Reflecting on his retirement from radio late last year, he now believes the timing was meant to be: “I don’t think I believe in fate … but I think that something must have pre-empted my retirement so that I can do what I’m doing now in relation to my granddaughter and my family. Because if I was still working, I wouldn’t have been able to do it.” Hadley <a href="https://www.oversixty.com.au/lifestyle/retirement-life/the-time-has-come-ray-hadley-announces-retirement" target="_blank" rel="noopener">announced his departure from 2GB</a> on December 13, bringing a 43-year career to a close. With his daughter and son-in-law balancing the demands of caring for three children, Hadley has stepped in to help bring some joy to Lola’s days. “I was with her yesterday …. and she’s got this thing where she likes to trick me,” he said, recounting their playful interactions. “Her favourite thing is (to say) ‘Poppy, you’ve got a spider in your hair’ and I sort of brush my hair, and I say, ‘Where is it? Where is it? Get the spider out’ and then she laughs. “I don’t know how she handles it, she’s only three.” For now, Hadley remains focused on what matters most – his family, and ensuring Lola has all the love and support she needs in the fight ahead. Images: Facebook

Caring

"Why are you attacking my dad?": I'm A Celeb finalist reveals behind-the-scenes heartbreak

The emotional on-air reunion between I’m A Celebrity... Get Me Out of Here contestant Matty J and his wife, Laura Byrne, along with their two children, Marlie-Mae and Lola Ellis, was a heartwarming moment <a href="https://www.oversixty.com.au/entertainment/tv/abrupt-viewers-stunned-by-i-m-a-celeb-winner-s-reveal" target="_blank" rel="noopener">during Sunday’s finale</a>. However, behind the scenes, Byrne has opened up about the significant challenges she faced while participating in the momentous event. In the lead-up to the finale, Byrne undertook an exhausting journey from Sydney to South Africa with their two young daughters. Speaking on the Life Uncut podcast, she detailed the arduous travel experience, which involved “three separate flights” and 24 hours of transit. “That in itself was really hard," she said. "It was like 24 hours by the time we got door to door. Midnight transfer with two children who were absolutely f***ing ropable.” The long journey was only the beginning of the difficulties though. Upon arrival, Byrne and the children had to share a single room with inadequate sleeping arrangements, all while preparing for a demanding day on set. Byrne also revealed that the experience of managing two young children on a chaotic production set was overwhelming. “I felt like I was the emotional buffer between the children and production … I felt like I’d just been flogged for days. It was hard. It was really hard for me,” she said. During the finale, Matty J and his fellow top three contestants – Big Brother star Reggie Bird and retired NRL player Sam Thaiday – were reunited with their families before participating in the final challenge. While this was an exciting moment for viewers, it was an emotionally challenging experience for the family. Matty J recalled the moment he had to part ways with his children soon after reuniting. “When we had our reunion, it was maybe half an hour I think where we had time together and then they’ve got to pull us apart,” he said. “The kids don’t get it, the kids don’t understand. They’re like, ‘I’ve just met my dad, and then I’ve got to go.’ And then we did that trial where we had to have s**t poured on our heads, and Lola’s in tears being like, ‘Why are you attacking my dad?’” Byrne explained that their children were repeatedly reunited with their father, only to be separated again. This happened three times – during the initial reunion, the final trial and then the announcement of the winner. The constant cycle of emotional reunions and abrupt separations took a toll, particularly on their youngest daughter, Lola. After the winner was announced, Byrne and the children expected Matty J to return home with them, but he was kept on set for several more hours. “They kept Matt on set until 6 o’clock and we went home earlier. And it was so hard on Lola particularly,” Byrne revealed. “And then I had to deal with her big emotions around ‘Why is my daddy not coming home?’ And it felt like this unfair false start.” She admitted that the combination of exhaustion, sleep deprivation and trying to manage the emotional needs of their children made the experience incredibly difficult. Byrne also shared that she had been against Matty J’s participation in the reality show right from the outset. “I wasn’t a supporter of it in the first place,” she admitted, reinforcing that the experience had only confirmed her concerns. Even Matty J himself struggled with the demands of the show. He confessed that he broke down early in his time at camp, an emotional moment that wasn’t shown on TV. “I just burst out crying, and I was like, ‘I f**king cannot do this,’” he recalled, explaining that a moment of solitude while washing dishes left him questioning his decision. “What have I f**king done? This is a nightmare.” It appears that, for the Byrne-Johnson family, what seemed like a joyful televised reunion was, in reality, a deeply exhausting and emotional ordeal. Images: Network 10

Whether we carve out an exemption or not, Trump’s latest tariffs will still hit Australia

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/scott-french-2254956">Scott French</a>, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a> US President Donald Trump and Prime Minister Anthony Albanese have <a href="https://theconversation.com/trump-agrees-to-consider-australian-exemption-from-tariffs-describing-albanese-as-very-fine-man-248886">stated</a> an exemption for Australia from Trump’s executive order placing 25% tariffs on all steel and aluminium imported into the US is “under consideration”. But prospects remain uncertain. Albanese would do well to secure an exemption using <a href="https://www.smh.com.au/politics/federal/exemptions-are-under-consideration-albanese-reports-warm-chat-with-trump-over-tariffs-20250211-p5lb4r.html">similar arguments</a> as then-Prime Minister Malcolm Turnbull did in 2018. If Australia cannot obtain a carve-out from the tariffs, the main group affected will be the Australian producers of steel and aluminium. But the size of the hit they will take is difficult to predict. Regardless of whether Australia gets an exemption, the world economy – and Australians – will be affected by Trump’s latest round of tariffs. <h2>Producers will be hit</h2> If ultimately imposed by the US, these tariffs will make steel and aluminium produced in Australia more expensive for US manufacturers relative to domestically produced alternatives. This will certainly result in reduced demand for the Australian products. However, three factors will help limit the effects: 1. The price of metals produced in the US will rise It will take time to ramp up US production to fill the gap of reduced imports, and the extra production will likely come from <a href="https://theconversation.com/what-are-tariffs-243356">less efficient</a> domestic producers. This means that US manufacturers will continue to buy imported metals, despite the higher prices. 2. The US is not a huge market for Australian steel and aluminium Australia produced A$113 billion of primary and fabricated metal in the 2022-23 financial year, according to the <a href="https://www.abs.gov.au/statistics/industry/industry-overview/australian-industry/latest-release">ABS</a>. By comparison, less than $1 billion of steel and aluminium was exported to the US in 2023, according to data <a href="https://comtradeplus.un.org/">from UN Comtrade</a>, consisting of about $500 million of aluminium and less then $400 million of steel. Exports to the US account for about 10% of Australia’s total exports of these metals. 3. Major markets If major markets such as China and the European Union enact retaliatory tariffs on US metals, this could make Australian metals more competitive in these markets. <h2>Some stand to benefit</h2> While workers in Australian steel and aluminium plants will be watching the news with trepidation, some of Australia’s biggest manufacturing companies may be less concerned. For example, BlueScope Steel has significant US steel operations, and saw its <a href="https://www.abc.net.au/news/2025-02-10/asx-markets-business-news-live-updates-feb-10/104916360">share price increase</a> on news of the tariffs. US-based Alcoa, which owns <a href="https://www.theaustralian.com.au/business/mining-energy/trump-tariff-threat-puts-aussie-aluminium-smelters-on-edge/news-story/1bba5321af89fd817a55a4984d98d273">alumina refineries</a> in Western Australia and an aluminium smelter in Victoria, will also expect to see its US operations benefit. And Rio Tinto will be most concerned about its substantial Canadian operations. Its Canadian hub is responsible for close to <a href="https://www.riotinto.com/en/can/canada-operations/saguenay">half of its global aluminium production</a>. <h2>Demand for iron ore could fall</h2> The US tariffs will also have wider ranging effects on the Australian economy, regardless of whether Australia’s products are directly targeted. While aluminium is Australia’s <a href="https://www.dfat.gov.au/trade/trade-and-investment-data-information-and-publications/trade-statistics/trade-in-goods-and-services/australias-trade-goods-and-services-2023">top manufacturing export</a>, it still makes up only about 1% of total exports, and steel makes up <a href="https://comtradeplus.un.org/">less than half that</a>. Iron ore, by contrast, makes up more than 20% of Australia’s exports, with aluminium ores making up an additional 1.5%. This means the effect of the tariffs on demand for the raw materials to make steel and aluminium may have the largest detrimental effect on the Australian economy. Because the tariffs will make steel and aluminium more expensive to US manufacturers, they will seek to reduce their use of them. This means global demand for the metals, and the ores used to produce them, will decline. Investors appear to be betting on this, with shares of Australian miners like <a href="https://www.asx.com.au/markets/company/RIO">Rio Tinto</a> and <a href="https://www.asx.com.au/markets/company/bhp">BHP</a> falling since Trump announced the tariffs. <h2>Imported goods will become more expensive</h2> Many of the things Australians buy are likely to get more expensive. All US products that use steel and aluminium at any stage of the production process will also become more expensive. Tariffs will raise the cost of steel and aluminium for US manufacturers, <a href="https://theconversation.com/what-are-tariffs-243356">both directly and by reducing overall productivity</a> in the US. About <a href="https://comtradeplus.un.org/">11% of Australia’s imports</a> come from the US. And about half of this consists of machinery, vehicles, aircraft, and medical instruments, which typically contain steel and aluminium. Further, these goods are used by manufacturers around the world to produce and transport many of the other things Australians buy.<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/249493/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/scott-french-2254956">Scott French</a>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a> Image credits: Samuel Corum/CNP/Shutterstock Editorial 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/whether-we-carve-out-an-exemption-or-not-trumps-latest-tariffs-will-still-hit-australia-249493">original article</a>. </div>

Money & Banking

Driver reveals "surprising" way he got out of $410 seatbelt fine

An Aussie driver who copped a $410 fine and three demerit points after their passenger made a common seatbelt move has revealed how they argued his way out of the ticket. Numerous motorists have been fined in recent weeks over the little-known road rule, where the driver could be penalised if a passenger reclines their seat too far back. Aussie lawyer Hayder Shkara argued that the rule is "step too far" as well-rested passengers can help curb the growing rate of fatalities by taking over from fatigued drivers on long car trips. Shkara shared the story of how one of his followers had successfully overturned the seatbelt fine and demerit points on social media. "He applied for a review with the police, and he actually got approved," Shkara said. "In his review he focused on the fact that car manufacturers were allowed to import these vehicles with the ability to recline in the first place, and that if there was an actual issue with the vehicle in terms of its design, it should have been stopped at the importation basis. "[He] said to the police that they were practicing safe driving protocols by changing drivers and making sure that one driver was rested and at police actually withdrew the fine. He didn't have to pay anything, and he didn't get any demerit points." Shkara told Yahoo that "normally applications for review in traffic offences are extremely difficult to be successful in and there is a low margin of success." "What is the purpose of seat belts? It is for driver and passenger safety. But we all know that fatigue is a big problem for drivers, so if drivers are switching in and out, I believe that the safer thing to do is for one driver to have proper rest so they can continue to drive safely." He said he would also encourage others who receive a fine for the same offence to try and appeal their case, as the "review doesn't require you to pay any legal fees and it is worth a shot." Image: NSW Centre for Road Safety/ TikTok

Legal

Dave Hughes reveals I’m A Celeb weight loss

Dave Hughes spent 25 days in the jungle for this year's season of I'm A Celebrity...Get Me Out of Here! and despite being eliminated, his three-and-a-half weeks of camp life had a staggering effect on his body. “I lost eight kilos and I’m stronger now than when I went in there,” he told news.com.au. He explained that when he first joined the show he struggled to do laborious tasks like carrying a crate of firewood back to camp without assistance. “I’d be holding one side of the crate while my fingers almost snapped off, with another burly bloke like (former NRL player) Sam Thaiday on the other side,” he said. “But by the end of the month, I’m carrying the whole crate on my own. My fingers are loving the task. I’m just living my best life.” He also made progress in the "jungle gym" a workout station contestants could use to keep fit. “There was a bench press there and on the first day, the heaviest weights, I could do 20 (reps). On the day I got kicked out, I did 52," he said. “Sam (Thaiday) says I now look like a pregnant greyhound … I think that’s a compliment, so I’m happy," he said. Image: I'm A Celeb/ news.com.au

Body

Sam Kerr speaks out after jury delivers verdict

Sam Kerr has been found not guilty on charges of racially-aggravated harassment in a London court after a days-long <a href="https://oversixty.com.au/finance/legal/sam-kerr-s-defence-in-harassment-trial-revealed" target="_blank" rel="noopener">trial</a> into the 2023 incident. After the judge delivered the not guilty verdict and missed the court, Kerr told the dock officer “hope to never see you again”. While Kerr chose not to address those waiting outside the courtroom, she soon issued a statement on social media. “Following today’s not guilty verdict, I can finally put this challenging period behind me,” she wrote on her Instagram story. “While I apologise for expressing myself poorly on what was a traumatic evening, I have always maintained that I did not intend to insult or harm anyone and I am thankful that the jury unanimously agreed." “I would like to thank my partner Kristie, my family, friends and all the fans for their love and support, especially those who attended court each day." “I am fully focused on getting back on to the pitch and look forward to an exciting year ahead for me and my family.” The Metropolitan Police also released a statement about the verdict, saying, “Our officers perform a challenging job and are often subjected to various forms of abuse as they discharge their duty." "We will continue to support all officers involved in this incident The matter was fully investigated with evidence presented to the Crown Prosecution Service who made the decision to charge." “A jury has found Kerr not guilty and we respect their verdict.” Image credits: TOLGA AKMEN/EPA-EFE/Shutterstock Editorial

Legal

Most retirees who rent live in poverty. Here’s how boosting rent assistance could help lift them out of it

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/brendan-coates-154644">Brendan Coates</a>, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>; <a href="https://theconversation.com/profiles/joey-moloney-1334959">Joey Moloney</a>, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/matthew-bowes-2316740">Matthew Bowes</a>, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> Most Australians can look forward to a comfortable retirement. More than three in four retirees own their own home, most report feeling comfortable financially, and few suffer financial stress. But our new Grattan Institute <a href="https://grattan.edu.au/report/renting-in-retirement-why-rent-assistance-needs-to-rise/">report</a> paints a sobering picture for one group: retirees who rent in the private market. Two-thirds of this group live in poverty, including more than three in four single women who live alone. <hr /> <iframe id="x2VND" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/x2VND/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> Retirees who rent often have little in the way of retirement savings: more than half have less than A$25,000 stashed away. And a growing number of older Australians are at risk of becoming homeless. But our research also shows just how much we’d need to boost Commonwealth Rent Assistance to make housing more affordable and ensure all renters are able to retire with dignity. <h2>Today’s renters, tomorrow’s renting retirees</h2> Home ownership is falling among poorer Australians who are approaching retirement. Between 1981 and 2021, home ownership rates among the poorest 40% of 45–54-year-olds fell from 68% to just 54%. Today’s low-income renters are tomorrow’s renting retirees. Age pensioners need at least $40,000 in savings to afford to spend $350 a week in rent, together with the <a href="https://www.servicesaustralia.gov.au/age-pension">Age Pension</a> and <a href="https://www.servicesaustralia.gov.au/rent-assistance">Rent Assistance</a>. That’s enough to afford the cheapest 25% of one-bedroom homes in capital cities. But Australians who are renting as they approach retirement tend to have little in the way of retirement savings. 40% of renting households aged 55-64 have net financial wealth less than $40,000. <h2>Rent assistance is too low</h2> Our <a href="https://grattan.edu.au/report/renting-in-retirement-why-rent-assistance-needs-to-rise/">research</a> shows that Commonwealth Rent Assistance, which supplements the Age Pension for poorer retirees who rent, is inadequate. The federal government has <a href="https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/speeches/budget-speech-2024-25">lifted the maximum rate of Rent Assistance</a> by 27% – over and above inflation – in the past two budgets. But the payment remains too low. A typical single retiree needs at least $379 per week to afford essential non-housing costs such as food, transport and energy. But we found a single pensioner who relies solely on income support can afford to rent just 4% of one-bedroom homes in Sydney, 13% in Brisbane, and 14% in Melbourne, after covering these basic living expenses. With Rent Assistance indexed to inflation, rather than low-income earners’ housing costs, the maximum rate of the payment has increased by 136% since 2001, while the rents paid by recipients have increased by 193%. <h2>A boost is needed</h2> Our analysis suggests that to solve this problem, the federal government should increase the maximum rate of Rent Assistance by 50% for singles and 40% for couples. The payment should also be indexed to changes in rents for the cheapest 25% of homes in our capital cities. These increases would boost the maximum rate of Rent Assistance by $53 a week ($2,750 a year) for singles, and $40 a week ($2,080 a year) for couples. This would ensure single retirees could afford to spend $350 a week on rent, enough to rent the cheapest 25% of one-bedroom homes across Australian capital cities, while still affording other essentials. Similarly, retired couples would be able to afford to spend $390 a week on rent, enough to rent the cheapest 25% of all one- and two-bedroom homes. <hr /> <iframe id="EZBuw" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/EZBuw/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> <h2>Unlikely to push up rents</h2> One common concern is that increasing Rent Assistance will just lead landlords to hike rents. But we find little evidence that this is the case. International studies suggest that more than five in six dollars of any extra Rent Assistance paid would benefit renters, rather than landlords. <hr /> <iframe id="qGxQE" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/qGxQE/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> In Australia, there’s little evidence that recent increases in Rent Assistance have pushed up rents. Our analysis of NSW rental bond lodgement data suggests areas with higher concentrations of Rent Assistance recipients did not see larger rent increases in the year after the payment was boosted. That’s not surprising. Rent Assistance is paid to tenants, not landlords, which means tenants are likely to spend only a small portion of any extra income on housing. Since rates of financial stress are even higher among younger renters, we propose that any increase to Rent Assistance should also apply to working-age households. Boosting Rent Assistance for all recipients would cost about $2 billion a year, with about $500 million of this going to retirees. These increases could be paid for by further <a href="https://grattan.edu.au/report/super-savings-practical-policies-for-fairer-superannuation-and-a-stronger-budget/">tightening superannuation tax breaks</a>, <a href="https://grattan.edu.au/report/housing-affordability-re-imagining-the-australian-dream/">curbing negative gearing and halving the capital gains tax discount</a>, or counting more of the value of the family home in the Age Pension assets test.<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/249134/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/brendan-coates-154644">Brendan Coates</a>, Program Director, Housing and Economic Security, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>; <a href="https://theconversation.com/profiles/joey-moloney-1334959">Joey Moloney</a>, Deputy Program Director, Housing and Economic Security, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/matthew-bowes-2316740">Matthew Bowes</a>, Associate, Housing and Economic Security, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> Image credits: Shutterstock 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/most-retirees-who-rent-live-in-poverty-heres-how-boosting-rent-assistance-could-help-lift-them-out-of-it-249134">original article</a>. </div>

Money & Banking

Big banks finally cut fixed-interest mortgage rates

NAB has become the first big bank to announce it has cut its fixed rate mortgages across all loan terms. The bank is the first of the big four banks to cut its fixed rates in 2025, two weeks out from the Reserve Bank of Australia’s first meeting when it is tipped to cut the cash rate. NAB announced on Monday that their lowest fixed rate is now 5.84 per cent, with a deposit of at least 20 per cent on a three-year term. “NAB is the first of the big four banks to cut fixed rates in 2025, with other banks likely to follow,” Canstar data insights director Sally Tindall said. “The cost of wholesale fixed rate funding has started to ease slightly. This, combined with a prospective cash rate cut, should push other banks into moving on fixed rates.” The cuts from NAB come almost two weeks after Macquarie Bank lowered its fixed rates, however, ANZ still has the lowest fixed rate out of the big four banks at 5.74 per cent for a two-year or three-year term. “While a few banks are now starting to sharpen their offerings, fixed rates still have a way to fall before they become fashionable again with borrowers,” Tindall said. “We expect the big four banks in particular to pass on cash rate cuts in full, at least for the first couple of cash rate cuts,” she said. “But we might even see some banks choose to pass on even more to new customers in order to take advantage of that re-engagement for borrowers in what a competitive rate looks like.” “Many homeowners have been waiting for well over a year for a cash rate cut. It’s hard to see them throwing in the towel and switching to a fixed rate now when the RBA is poised to move." “That said, there’s no guarantee we’ll see a barrage of cash rate cuts and borrowers should factor this into their thinking.” Image credits: Shutterstock <p class="mb-4 font-serif text-article-body" style="font-family: var(--font-google-newsreader),serif; box-sizing: border-box; border: 0px solid; margin: 0px 0px 24px; font-size: 1.2275rem; line-height: 26.514px; caret-color: #2a2a2a; color: #2a2a2a;">

Money & Banking

Dave Hughes spills on worst A-list celeb interview

Dave Hughes has revealed the "rudest" A-list celebrity he's ever interviewed in the latest episode of I’m A Celebrity … Get Me Out of Here! The radio star was talking about all his celebrity interviews throughout the years with campmate Max Balegde, who then asked him: “I want you to be honest – who was the rudest?” “If we’re going to be honest … it hurts me to say it, but it’s … Ben Stiller. I was a big fan, and he was just a pain in the a**e," Hughes replied. Hughes then joked that he might've “ruined his Hollywood career” by calling out the A-list actor and director known for films like Zoolander and Meet the Parents. The radio broadcaster didn't reveal when he'd encountered Stiller or why the actor was a "pain in the a**e" . In the latest episode of I’m A Celebrity … Get Me Out of Here! former MAFS star Samantha Moitzi was the first of this season's contestants to be evicted from the jungle. Last week, Aussie TV legend Sigrid Thornton was the latest celeb to join the show in its 11th season. It's the first time the actress appeared in a reality show during her 40-year career, telling news.com.au: “I felt like if I was going to say yes to a challenge like this, then this was the time for me. I mean, I’ve never done reality television; I’ve never done anything remotely like this.” “But I don’t hold any particular judgement around it; I’ve removed all potential judgement because I don’t know what it’s going to be. All I know is that it will be extraordinary, exciting, unexpected, and I hope a little bit wonderful.” Image: I'm A Celeb/ 10

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