Your noon Briefing: Tax cuts loom amid early budget surplus

Your noon 2-minute digest of the day’s top stories and must-reads.

Hello readers. It’s been good and bad news for the Coalition. The good news is that the Coalition is on track to deliver budget surplus by 2019/20. While the bad news is that Andrew Broad has resigned from the ministry.

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Treasurer Josh Frydenberg and Finance Minister Mathias Cormann holding a press conference to release the mid-year economic and fiscal outlook (MYEFO) at Parliament House in Canberra. Picture Kym Smith

Tax cuts loom amid early budget surplus

The Australian government’s books are in the best shape they have been in a decade, Treasurer Josh Frydenberg has revealed.

The government is ready to hand down a surplus in an early budget, ahead of an expected May federal election.

The projected surplus, which would be the first since John Howard was prime minister, is almost double the $2.2 billion figure forecast in the May budget.

The improvements come after the government raked in more revenue than expected, buoyed by strong employment growth and corporate tax receipts.

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Australian Opposition leader Bill Shorten together with his wife Chloe, son Rupert, and daughters Georgette and Clementine is seen after his speech during day one of the Labor Party National Conference in Adelaide, Sunday, December 16, 2018. Labor's 48th National Conference will be held from December 16-18, 2018 at the Adelaide Convention Centre. (AAP Image/Lukas Coch) NO ARCHIVING

Labor to give $500m to UNHCR

Day two of the 2018 Labor National Conference is well underway.

Federal Labor will take 4000 more refugees a year and give $500 million to support the United Nations’ efforts on asylum seekers if elected to government.

But the opposition’s commitment to hard line measures, including boat turn-backs and offshore processing remains

The first policy topic of the day “A first class education for all Australians” is met with furious agreement on the first amendment, which relates to the already announced policy of universal early childhood education for three-year-olds.

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Andrew Broad in Question Time in the House of Representatives Chamber at Parliament House in Canberra. Picture Kym Smith

Nats MP resigns from ministry

Victorian Nationals MP Andrew Broad has resigned from Scott Morrison’s ministry after New Idea published a story with allegations he used a dating site to find “sugar babes” while on a work trip in Hong Kong last month.

The Australian is not suggesting the allegations are true only that they have been made.

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NAB CEO Andrew Thorburn speaking to local farmers in Wagga, NSW.

NAB chief eyes extended leave

National Australia bank chief executive Andrew Thorburn is understood to have told senior executives he is planning to take a period of extended leave through January and February.

Mr Thorburn said he needed time to recharge.

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ADELAIDE, AUSTRALIA - DECEMBER 16: Labor leader Bill Shorten delivers his opening address during the 2018 ALP National Conference on December 16, 2018 in Adelaide, Australia. It is the Labor Party's 48th ­national conference. (Photo by Mark Brake/Getty Images)

‘Factions need to loosen up’

Troy Bramston says there’s a good reason everybody’s happy at the Labor national conference. Nobody’s lost a vote … because there hasn’t been one.

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Britain's Prime Minister Theresa May leaves 10 Downing Street in Westminster London, Britain, December 13, 2018. REUTERS/Peter Nicholls - RC110982BB80

Blair ‘an insult to PM’s office’

Britain’s former Labour prime minister Tony Blair has been accused of undermining government negotiations with the European Union over Brexit and of insulting the office of prime minister.

In a top level verbal spat, the current British prime minister Theresa May has told Tony Blair to butt out of Brexit after he advocated for a second referendum and announced plans to visit Brussels to lobby support for the idea.

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THE SITE OF THE THAILAND CAVE RESCUE IS NOW A BOOMING TOURIST ATTRACTION

Thai Cave now tourist hot spot

The Tham Luang caves have become a booming tourist attraction since 12 boys and their football coach were rescued from it.

The cave remains closed to visitors, its mouth visible through a chain-link fence, but the Tham Luang-Khun Nam Nang Non forest park has attracted tens of thousands of visitors since it reopened last month.

The record was 16,000 visitors on a single day, according to the village leader, Napasorn Thatukarn.

Stay tuned:

. Chris Dawson will soon learn if he will be released on bail after he was charged with murdering his wife Lynette decades ago. The former rugby league player, who intends to plead not guilty, faced court via video link for a bail application on Friday. Magistrate Robert Williams will make his bail decision on Monday afternoon.

. Live coverage of Australia vs India second test at Perth Stadium.