A week after the federal budget, the government has revealed it will spend more than $3 billion to bolster Australia’s oil refining capacity, and a further $600 million to build a gas plant in the Hunter Valley.
Star Entertainment Group has upped the stakes in the takeover battle for the troubled Crown Resorts, launching an unsolicited merger bid that, if successful, would create a $12 billion gambling behemoth.
Australia’s international rankings in science, maths and reading have dropped, but while politicians claim to be funding education adequately, critics point out that the money is being directed to all the wrong places.
The budget surprised many as the treasurer shrugged off long-held fears of spending and deficits, which may be the result of consultation with some unexpected advisers.
While the government works to reform the disability insurance agency and restart welfare debt collections, management consultancy McKinsey has amassed significant influence.