That’s a wrap – thank you for reading the Need to Know blog today. These were some of the main stories:

• NSW calls for a ‘fairer’ GST carve up: The NSW government has complained that its share of the GST pool has fallen to 86.0 per cent per capita, after it was slashed last year from 92.4 per cent to 86.7 per cent.

• PM to participate in UK-led meeting on Ukraine peace: Prime Minister Anthony Albanese says he will participate in a meeting with world leaders, organised by UK Prime Minister Keir Starmer, to discuss peace in Ukraine.

• Queensland hits back at ‘alarming’ GST carve-up: The Queensland government has called on the Commonwealth to reject what it called an “alarming” new proposal to strip $2.4 billion GST revenue from the state next year, and an estimated total of $5.3 billion over three years.

• Albanese confirms pre-cyclone fundraising event: Anthony Albanese is in Perth today and has used a round of radio interviews to confirm reporting in The Australian Financial Review that he also attended a political fundraiser on the same day as Peter Dutton last week.

• Victoria’s GST share to increase as split between states released: The Commonwealth Grants Commission has just released the latest proposed GST carve-up, with Victoria now receiving more GST revenue than is notionally raised in the state.

• Australia must reciprocate ‘tariff for tariff’ if more imposed: Newly elected vice chancellor of Canberra University Bill Shorten says Australia has to retaliate against the US by going “tariff for tariff”.