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

• Musk, Ramaswamy appointed head of efficiency: US President-elect Donald Trump said that Elon Musk and former Republican presidential candidate Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE).

• Musk’s appointment likely to fuel crypto rally: Trump’s decision is likely to add more fuel to a cryptocurrency rally that pushed digital tokens to unseen highs in the past week.

• Trump nominates Fox News host for defence secretary: Trump will nominate Fox News Channel host Pete Hegseth to be secretary of defence.

• Trump adviser shares Rudd post with hourglass gif: The post that Dan Scavino shared did not contain any words, only a GIF suggesting time is running out for Rudd.

• Dutton says he supports ‘a woman’s right to choose’ abortion: Opposition Leader Peter Dutton says he supports the right of women to access legal abortion but will not force senators to withdraw their pro-life bills.

• Dutton casts doubt on tax cuts for high earners: Peter Dutton has signalled the Coalition won’t proceed with additional tax cuts for high earners, despite earlier promising a plan to reward aspiration and tackle bracket creep.

• Australia to try and broker trade peace between US and China: Anthony Albanese says Australia will use its relationship with both China and the United States to try and head off a trade war between the two superpowers under the presidency of Donald Trump.