Your noon Briefing
Welcome to your noon roundup of how the day has played out so far and what to watch for.
Hello readers. Here is your noon digest of what’s making news and a long read for lunchtime.
‘Chump change’
Economist Saul Eslake says Labor could use “chump change” from its controversial plan to scrap refundable tax credits to compensate self-funded retirees on “genuinely low” incomes. Richo suggests that one thing that Bill Shorten and Chris Bowen have shown is that they possess courage. Taking on a million self-funded retirees is either policy brave or risk-taking gone mad. Henry Ergas, meantime, writes that when imputation credits were made fully reimbursable, Labor wasn’t merely supportive — it was positively gushing. Calling attention to the benefits full reimbursement would provide to a “low-income person who earns a little investment income”. Anthony Albanese denies the policy will cost the party votes and he’s confident of a win in Batman this weekend. Labor’s controversial policy to scrap refundable tax credits will cost the party votes this weekend.
-
Trump Jr divorce
Donald Trump Jr’s wife Vanessa is seeking an uncontested divorce from the president’s son, according to a public court record filed Thursday local time. Details of the divorce complaint haven’t been made public. The couple, both 40 years old, married in 2005 and have five children.
-
Wesfarmers shake-up
Wesfarmers chief Rob Scott has moved quickly to put his stamp on the business, announcing it will shed its biggest capital consumer Coles and signalling a major shake-up of the company, writes John Durie. The decision gives him more flexibility ahead of a looming decision on the future of its struggling Bunnings UK operation.
-
The long read: White farmers in firing line
The mellifluous tones of South Africa’s multi-millionaire new President are intended to be reassuring, writes Bruce Loudon. “There will be no smash and grab of land in our country,” says Cyril Ramaphosa, a mineworkers’ union leader under white rule who became a highly successful businessman post-apartheid before being elected leader of the ruling African National Congress in December last year. White farmers are living in fear and South Africa is staring down the barrel of the Zimbabwe farming disaster. Some, like Gert du Plessis, moved to Australia three years ago ahead of the terror. And just breaking, a diplomatic row is brewing as Canberra’s high commissioner has been hauled in for a meeting with officials in Pretoria after the home affairs minister said the farmers deserved protections under special visas from Australia.
“There is no reason for any one of us to panic and start beating war drums. We are going to handle this matter ... by dialogue, discussion, engagement, until we find good solutions that take our country forward.”
Cyril Ramaphosa
-
Comment of the day
“The Labor Party had to use an actor in the ad because they don’t know any real workers.”
Greg, in response to ‘Actress who plays ACTU ‘battler’ boosts the big end of town’. And don’t miss the best of what you had to say this week in a very taxing edition of Readers’ Comments.
China’s great wall of silence
China deliberately concealed information about the coronavirus, and now it is fighting an inquiry. So what is Beijing hiding?
Your noon Briefing
Your 2-minute digest of the day’s top stories.