What we learned, Friday 13 March
Thanks for joining us today. Here’s a reminder of today’s top stories.
The energy minister, Chris Bowen, announced Australia will begin releasing its stockpile of fuel after the government directed fuel companies to release nearly a fifth of reserve petrol and diesel supplies amid the Middle East conflict;
NSW will get a smaller share of the GST pool next financial year, while the cost to federal taxpayers of filling up Western Australia’s coffers rose again;
The federal resources minister, Madeleine King, says the longer the war in Iran lasts, the worse the effect on “the whole global economy”;
Major flood warnings remain in place across northern Australia, with further rain forecast for an already saturated Top End;
The NSW government has extended a no-interest loan scheme for a further five years amid renewed cost-of-living concerns, including a burgeoning energy crisis caused by conflict in the Middle East;
Byron Bay Bluesfest has been cancelled, just weeks before it was set to begin;
Qantas will pay $105m to settle a class action lawsuit over its Covid credit scheme, ending a long-running dispute with some of its affected customers;
The NSW government has announced that a section of the Great Western Highway in the Blue Mountains will remain closed for at least three months after the failure of a historic bridge this month;
Victoria police have abandoned charges against three people as part of the Dezi Freeman investigation.
Updated
Mardi Gras board stands down two directors amid escalating dispute
The internal rift at the Sydney Gay and Lesbian Mardi Gras deepened on Thursday night, with the board voting to stand down two directors amid an escalating dispute over trans rights advocacy and corporate sponsorship.
Board members Damien Nguyen and Luna Choo, who are also members of Pride in Protest, a left-wing trans advocacy group, have been stood down for 28 days, effective until 9 April.
The board invoked a constitutional clause to enact the “interim governance measure,” claiming the suspension was necessary to ensure the “effective functioning of the board” and to create space for mediation.
Pride in Protest’s spokesperson, Rohen Snowball, claimed the board’s move was an “emergency tactic to shut down dissent”.
Choo, the board’s only trans member, told a press conference on Friday she had been “locked out of my emails, misgendered and humiliated in front of board directors, roundly condemned and now excluded from the board room” for communicating to members on the issue of trans rights:
“At the Mardi Gras AGM last December, members passed motions to embrace trans rights, anti discrimination, reform and public funding.
In January, the board publicly announced that they are rejecting their AGM commitments to the queer and trans communities. It has been three months of no action on the three resolutions.
Nguyen also spoke at a press conference on Friday. He said members had elected him and Choo to the Mardi Gras board on a ticket of transgender rights, ending police violence and cutting ties with genocide complicity, but the board’s leadership had failed to act on members’ wishes, which were made clear at the recent AGM.
These included cutting ties with corporations associated with supporting Israel in the Gaza conflict and moving towards public and community funding instead of corporate funding.
Live Nation recently became a major partner of the Sydney Mardi Gras by securing the production and promotion rights for the festival’s official after-party, a deal that sparked intense backlash from activists, including Pride in Protest, which argued that the corporation’s global business ties conflicted with the event’s social justice values.
That partnership faced a major setback in February when the after-party was cancelled due to low ticket sales, a failure critics attributed to a community-led boycott against Live Nation’s involvement.
The Mardi Gras board said it hoped the ensuing mediation process with Choo and Nguyen would “not only … address the current concerns but also to support reconciliation and restore a positive and collaborative working environment within the board”.
Read more on the rift in Josh Taylor’s story from last month:
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ASX closes on sour note with almost $200bn wiped since start of conflict
Australian shares closed slightly lower today, ending a tumultuous two-week period marked by heavy losses and investor concerns of more upheaval to come.
The benchmark S&P/ASX 200 closed at 8,617.1 points, down more than 6% from the level reached before the US and Israeli strikes on Iran began in late February.
That equates to almost $200bn in lost market value.
Two weeks ago, the initial reaction from investors was modest amid expectations of a contained conflict.
Sentiment has now soured due to concerns the US does not have a clean exit strategy that can guarantee a stable resumption of the oil trade and other freight through the crucial strait of Hormuz.
Lochlan Halloway, a Morningstar market strategist, said oil analysts had been surprised by how severely energy flows from the Persian Gulf had been disrupted. He said:
What we had previously characterised as a bear case, in which persistent attacks choke off commercial transit, is now our base case.
An elevated oil price is a major global inflation trigger, given it drives up costs across goods and services in the economy, which weighs on equity markets.
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Australian travellers pivot to Asian destinations amid Middle East conflict
Australians are shifting their travel plans to destinations in Asia amid uncertainty about long-haul travel during the Middle East conflict, according to Webjet's booking data.
Data from the bookings site between 1 March and yesterday show that Australians are continuing to book international travel but are switching to short-haul trips to Asia and other closer destinations.
Compared with the same period in March 2025, there was a 43% increase in bookings to Ho Chi Minh City, a 30% increase in bookings to Bali, and a 21% increase in tips to Tokyo.
Katrina Barry, chief executive and managing director at Webjet Group, said:
Australians still have a strong appetite to travel, but we’re seeing them adapt their plans in response to global uncertainty.
Rather than cancelling trips altogether, many travellers are pivoting towards destinations that are closer to home or feel easier to access, including domestic holidays and short-haul travel across Asia and the Pacific.
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Nationals raise concern over fuel supply to regional areas
The new deputy Nationals leader, Darren Chester, spoke to the ABC earlier about Australia’s fuel supply.
The energy minister, Chris Bowen, announced that the country would begin releasing its fuel stockpile amid the conflict in the Middle East.
Chester said he did not believe fuel rations needed to be implemented in cities. But he said it was vital the federal government ensured that fuel got to the “places that need it the most”. He said:
It’s not across every part of rural and regional Australia, but certainly there were areas that weren’t getting their fuel.
I don’t believe that the minister fully understood the distribution challenges and how our regional communities depend so heavily on large amounts of fuel to get the food to us.
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Pocock says ‘contingencies’ needed such as gas export tax as fuel supply concerns persist
The independent ACT senator David Pocock says the federal government needs to have “contingencies” in place amid concerns about fuel supply due to the Middle East conflict.
Speaking to the ABC, he has reiterated calls for the Albanese government to introduce a 25% tax on gas exports:
I do think this is an opportunity to actually say, let’s bring in a 25% tax on gas exports and use some of that money to help people who are really struggling.
I think if the federal government was actually willing to tax things like our gas exports, to potentially bring in a windfall profit tax, because we can we know that gas exporters, potentially fuel companies, are going to be making windfall profits off this war in the Middle East.
Pocock said state governments could also provide financial incentives for people to catch public transport and not drive as a way to ease demands on fuel.
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Thistlethwaite asked about former spy chief quitting antisemitism royal commission
Matt Thistlethwaite was also asked about the former spy chief Dennis Richardson quitting the antisemitism royal commission just a fortnight after its opening hearing.
Richardson told the ABC he came to the decision that he was “surplus” to the needs of the body.
Asked about media reports Richardson was frustrated with the timing of potential intelligence and security reforms, Thistlethwaite says such inquiries must be independent from government:
It’s a decision for the commissioner. It’s an independent commission … We’ve got every confidence that Virginia Bell is the right person for that job and will do a thorough job on those intelligence issues and ensuring that we get to the bottom of what happened.
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Panic-buying affecting fuel supplies, Thistlethwaite says
Asked if Australia is facing a fuel emergency, Thistlethwaite says supplies are continuing to arrive on a “regular and normal basis”.
He says panic-buying is affecting supplies:
That’s why we’re releasing some of the reserve today to shore up confidence in those markets and to provide adequate supplies into the future.
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Labor frontbencher says ‘we don’t have a crisis of supply’ for fuel
Federal Labor frontbencher Matt Thistlethwaite says Australia has adequate fuel suply amid concerns about the impact from the ongoing conflict in the Middle East.
The Albanese government today directed fuel companies to release nearly a fifth of reserve petrol and diesel supplies.
Speaking to the ABC, Thistlethwaite, the assistant minister for foreign affairs, said:
We don’t have a crisis of supply. There are supplies coming into the country, and we have the reserves in stock …
Some people have been taking more than they need for their operations … That’s meant that certain retailers have had shortages of stock.
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Man dies after workplace incident in Sydney
A man has died after a workplace incident in Sydney’s west.
Emergency services were called to a business in Emu Plains after reports a man had suffered an electric shock while performing maintenance works on the building, NSW police said in a statement.
Paramedics treated the man, believed to be aged in his 40s, but he died at the scene, police said.
The man is yet to be formally identified.
Victoria police abandon charges against three people as part of Dezi Freeman investigation
Victoria police say they will not proceed with charges against three people as part of their wider investigation into the alleged fatal shooting of two police officers by fugitive Dezi Freeman due to “insufficient evidence”.
There have been no confirmed sightings of Freeman, 56, since he allegedly killed two police officers at a rural Victorian property last August. Police last month said they believed he died only hours after he fled into bushland after allegedly shooting the two officers.
In a statement released this afternoon, police said:
Victoria Police can confirm that we will not be proceeding with charges at this time against three people as part of the broader investigation into the fatal shooting of two police officers in Porepunkah last year.
Police said a 42-year-old Porepunkah woman and a 56-year-old Porepunkah man were interviewed by investigators for allegedly obstructing police. A third person was interviewed for an alleged attempted theft.
Police said briefs of evidence were “not authorised” due to “insufficient evidence to support a prosecution at this time”.
Updated
More than 800 people in evacuation centres as flooding continues in the Top End
More than 800 people remain in evacuation centres at Katherine, Mataranka and Darwin as flooding continues in the Top End.
NT police force acting commander Emma Carter said disaster assistance payments were being rolled out.
Our key message to the community remains simple: avoid unnecessary travel and never drive through flood waters. Flood waters can hide damaged roads, debris and other hazards and in the Territory they also present a very real crocodile threat.
The Bureau of Meteorology said Daly river levels were still rising, having crossed 16 metres overnight, and were expected to peak close to the 1998 flood (16.25 metres) over the weekend. It was likely to be a prolonged flood event with the river above major flood levels for the next week or more.
Rivers at Katherine and Wugularr (Beswick) have fallen below the minor flood level and continue to recede.
Electricity was set to be restored to all four pumps at the Darwin river dam on Friday.
As of Friday morning, 196 customers in Katherine were still without power.
Updated
That’s all from me. Adeshola Ore will take you into the arvo. Enjoy the weekend!
NSW government laments lowest ever GST share
The NSW government has lamented receiving its lowest ever share of GST since the tax was introduced, despite efforts to lobby the federal government to reform the distribution system.
As we reported earlier, Australia’s most populous state and its largest economy will now receive 82 cents back for every dollar its residents pay in GST in 2026-27, down from 86 cents at last year’s determination, and 92.4 cents in 2024.
The state treasurer, Daniel Mookhey, who is in the US this week to spruik investment opportunities in NSW, has been lobbying the federal government to reform its GST distribution formula.
In a statement, the NSW government said “the complex and opaque calculations used by the Commonwealth Grants Commission once again highlight a broken and unfair system in urgent need of reform”.
The acting treasurer, Courtney Houssos, says the decision “again demonstrates the need for a fairer allocation of how the GST is distributed across the states and territories”.
Successive NSW governments have identified the need for reform. We will continue to engage with the Commonwealth and work towards a more transparent system which can deliver NSW our fair share.
Bunnings to remove powerful rat poisons from shelves after regulator’s recommendation
Bunnings will remove second-generation rat poisons from its shelves by 30 June after a federal regulator recommended the chemicals be declared a restricted product.
The hardware giant welcomed the “clarity and direction” in a recommendation from the Australian Pesticides and Veterinary Medicines Authority this week, which said it was in the public interest for chemical products containing any second-generation anticoagulant rodenticides – known as SGARS – to be declared restricted chemical products.
Bunnings chief operating officer, Ryan Baker, said:
We are now working with our team and suppliers to remove these products by June 30, close to nine months ahead of the proposed 12- month implementation timeframe.
We recognise and understand the views raised by community and environmental groups, wildlife advocates and others who have taken a strong interest in this issue.We will also work with suppliers to ensure our customers can continue to access effective solutions to manage infestations and protect their homes and businesses.
For years, conservationists and scientists have called for the rodenticides to be banned or highly restricted due to their impact on wildlife.
If the regulator’s recommendation is accepted by federal and state governments, the declaration will limit access to the poisons to licensed professionals. Read more:
Updated
More on the release of nearly 20% of Australia’s fuel stockpile
Australia will begin releasing its stockpile of fuel after the government directed fuel companies to release nearly a fifth of reserve petrol and diesel supplies.
The energy minister, Chris Bowen, acknowledged fuel supplies could face further pressure but ruled out a cut to the fuel excise or rationing fuel purchases.
Bowen said he had cut fuel companies’ minimum stock obligations to about 2.2bn litres of diesel and 700m litres of petrol, freeing up about 500m and 300m respectively to be directed towards regional Australia.
The fuel would not be released immediately and Bowen said he could not be sure when it would reach regional Australia, where some places no longer have access to fuel, “because it’s a big country and every town is different”.
Read more here:
Updated
NSW to get an even smaller share of GST pool
NSW will get a smaller share of the GST pool next financial year, while the cost to federal taxpayers of filling up Western Australia’s coffers rose again, AAP reports.
The Commonwealth Grants Commission, an independent body that advises the federal government on the share of GST each state and territory should receive, on Friday revealed the federal budget will take a $6.6bn hit from the WA GST deal in next year’s carve-up.
NSW will get the lowest GST relatively share since GST was introduced, leaving it with $1.4bn less in revenue in 2026-27 than Victoria, despite having 1.5 million more people.
NSW’s share will be 82 cents in the dollar, down from 86 cents last year.
The distribution of GST has historically been decided based on need, which from about year 2000 to 2018 meant resource-rich WA received a lower per capita share than poorer states like Tasmania.
But the 2018 legislation meant that in the past two financial years, WA could receive no less than 75c to the dollar of what it would get based on a per capita distribution.
Channel Nine presenter Georgie Gardner to read last bulletin next month
Newsreader and presenter Georgie Gardner will read her last bulletin for Channel Nine next month after 25 years on air, the network announced.
Her career began in 2002 presenting 6pm weekday weather with Brian Henderson and reading the Morning news.
Gardener joined the Today Show in 2007 as newsreader and co-hosted for two years when Karl Stefanovic left the show.
She has been anchoring 9News Sydney’s 6pm weekend bulletin for 17 years.
Executive director, news & current affairs, Fiona Dear said:
Georgie’s versatility as a presenter has seen her hold almost every on-air news role at Nine. It’s a remarkable achievement and during that time Georgie has been loved and respected by audiences across Australia.
Byron Bay Bluesfest cancelled just weeks before festival due to be held
Byron Bay Bluesfest has been cancelled, just weeks before it was set to begin. The festival said in a statement:
After 36 years as Australia’s most awarded music festival, Byron Bay Bluesfest has made the difficult decision not to proceed with the 2026 event. We are deeply saddened by this outcome and the impact it will have on our artists, staff, partners, vendors and the many loyal Bluesfest fans who have been part of the festival’s journey for more than three decades.
This year’s event was meant to feature Split Enz, Earth, Wind & Fire, The Pogues and many more acts.
Peter Noble, the director of Bluesfest, said in a statement:
For more than three decades, Bluesfest has brought extraordinary artists and audiences together in Byron Bay while also driving significant tourism and economic activity for the Northern Rivers and New South Wales.
This makes the decision incredibly difficult. After careful consideration, we concluded we could not proceed in a way that would meet the standard our audiences, artists and partners expect.
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Government defends algorithm-driven aged care assessments
The government defended its new aged care assessment system during Question Time and in Senate estimates this week, with the aged care minister Sam Rae saying there were “encouraging signs” the reforms were working.
Rae said on Thursday that changes to the aged care assessment process, including the introduction of the algorithm-driven Integrated Assessment Tool (IAT), were “moving the system in the right direction”.
Guardian Australia has reported concerns from clinicians, providers and families about the use of an algorithm alongside the IAT to determine eligibility and funding levels for aged care services. Assessors and carers said the system is “cruel” and “inhumane” as it often under-assessed a person’s needs, leaving them without inadequate funding and care.
Assessors are unable to override the IAT when the algorithm makes a mistake in determining support at home needs.
At Senate estimates on Wednesday, the department of health, disability and ageing’s deputy secretary, Sonja Stewart, was asked by senator Anne Ruston about the large numbers of people complaining about the inaccuracy of the algorithmic assessments.
“Do you stand by the accuracy of your integrated assessment tool?,” Ruston asked.
Stewart said the tool was necessary to ensure fairness and consistency.
“I do stand by this tool as somebody who is responsible for the system,” she said. “This tool provides equity, this tool provides fairness and it also removes bias from the system.”
She said if there were cases where the IAT had not worked, “those cases will be dealt with on their merit”.
Read more here:
Emergency service convoy travels along flooded Victoria Highway near Katherine – video
Two police cars and two NT Emergency Service crews travel on the flooded Victoria Highway near Katherine after assisting with the rescue of a man and his dog stranded in raging flood waters on a creek crossing west of Katherine.
When roads are closed, only emergency services vehicles are allowed to proceed.
Updated
Queensland also subject to flood warnings, with major flooding en route to Longreach
In Queensland, major flood warnings were in place for the lower Condamine, Fitzroy, Flinders, upper Balonne, Thomson, Alice, Barcoo and Georgina rivers and the Cooper and Eyre creek.
No widespread, persistent rain was forecast, but the BoM was expecting major flooding in the Thomson river to approach Longreach, in central Queensland, this weekend.
Narramore said:
They’re kind of having a blue sky flood. They’re going to have major flooding, but the sun’s going to be out each and every day.
Australia experienced its fourth-warmest year on record in 2025, with annual temperature about 1.23C higher than average, according to the Bureau of Meteorology. Global heating, driven mainly by the burning of fossil fuels, has increased the frequency and severity of extreme weather events.
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More rain forecast for saturated Top End
Major flood warnings remain in place across northern Australia, with further rain forecast for an already saturated Top End.
The Northern Territory’s Daly river was at 15.51m and still rising. It was expected to peak over the weekend at levels approaching the 1998 flood event (about 16.25m), according to the Bureau of Meteorology.
Senior meteorologist Dean Narramore said rainfall totals of 100 to 200mm were possible across the Top End over the weekend and into early next week, and likely to lead to rapid rises on rivers, creeks and streams.
Pretty much all of western NT is under flood watches, from Darwin to the rock [Uluru], in anticipation for widespread heavy rainfall.
Major flood warnings were in place for the Daly and Georgina rivers as well as Eyre creek.
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Imams body warns against anti-Muslim hate ahead of Christchurch massacre anniversary
Australia’s peak body for imams is calling on the nation to stand up against anti-Muslim hate and religious discrimination ahead of the International Day to Combat Islamophobia on Sunday.
The day commemorates the Christchurch mosque massacre where 51 Muslims were murdered on 15 March 2019.
The president of Australian National Imams Council’s (ANIC), Imam Shadi, says a recent rise in Islamophobic incidents threatens the safety of Muslims and undermines social harmony:
Many mosques across Australia have recently received threatening letters and messages. Some have referenced a so-called “Christchurch 2.0”, while others have contained explicit threats of violence against worshippers.
Just a few nights ago, there was also a disturbing incident at a Ramadan Iftar gathering in Ballarat, VIC, where an individual reportedly stormed into a community dinner, threatened children, assaulted attendees and directed hateful anti-Islamic abuse toward those present.
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Low-deposit lending records biggest jump on record
Banks in the final three months of last year lent a record $5.4bn to homebuyers with “wafer thin” deposits of 5% or less – the latest evidence that the Albanese government’s decision to uncap its home guarantee scheme supercharged demand in an already red-hot property market.
The latest figures from the banking regulator, Apra, show low-deposit lending jumped $2.1bn in the December quarter, up 63% on the previous quarter, which was the biggest increase in the history of the data, according to Canstar analysis.
Property prices continued to forge higher through last year, with values at the cheaper end of the market climbing particularly quickly over recent months as first home buyers rushed to take advantage of the scheme, which helps them take out a loan with a deposit of as little as 5%.
The cap on the number of places in the scheme was removed on 1 October, alongside increased income eligibility limits.
Sally Tindall, the director of data insights at Canstar, said the scheme had “removed a key barrier for first home buyers who have surged on to the market, wafer-thin deposits in hand”.
Tindall said saving a 20% deposit “had become an almost impossible task for many would-be buyers,” and that these super low deposit loans now accounted for 4% of new lending to owner-occupiers:
Which sounds small, but is actually the highest proportion on record.
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Tehan says government does not have ‘clear plan’ for fuel security
The federal opposition’s energy spokesperson, Dan Tehan, has been speaking about the Albanese government’s announcement it will reduce minimum stock obligations for diesel and petrol.
Bowen earlier said the change would allow fuel companies “more flexibility to manage their supply chains”.
Tehan says Bowen does not have a “clear plan” to guarantee Australia’s fuel security:
The Australian people need more. They need a plan. They need to be reassured that there are no problems.
Updated
Great Western Highway closure in NSW to remain for at least three months after failure of ‘Convict Bridge’
The NSW government has announced that a section of the Great Western Highway in the Blue Mountains will remain closed for at least three months following the failure of a historic bridge this month.
Victoria Pass in the Blue Mountains, which includes the “Convict Bridge” built by chain gangs in 1832, closed last week after Transport for NSW detected cracking and movement in its substructure.
In a statement released this morning, the NSW roads minister, Jenny Aitchison, says at least two weeks of specialist testing and 3D imaging have to be carried out with no passing traffic to understand the full extent of the damage, and “under the most optimistic scenario”, work to make the road safe would take at least a further two months.
Aitchison says:
This is not a short-term repair job. We are dealing with a major geotechnical failure on a fragile and historic section of road, and it must be assessed and repaired properly ... I know this closure is causing real hardship for families, workers, school communities, freight operators and local businesses, and I am deeply sorry for that disruption. But there will be no shortcuts on safety – we will not risk lives.
Aitchison says a diversion in place for traffic is adding up to 25 minutes to cross the Blue Mountains, but has warned of heavier delays on peak periods and weekends. Extra train, coach, school and regular bus services have been laid on, but the closure has raised questions about the failure of successive state governments to replace the nearly 200-year-old bridge.
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‘Of course’ there will be further threats to fuel supply if war drags on, Bowen says, but ‘we are nowhere near’ running out
Guardian Australia’s Luca Ittimani just asked Bowen if Australia could run out of fuel. The energy minister said:
I think Australians know that our fuel supply is secure, it’s arriving on schedule. Will there be further threats to fuel supply, as the international circumstances continue to worsen? Of course.
That is a realistic thing which governments should prepare for and are prepared for, the Australian people are prepared for.
I think the sort of inflammatory running-out language, we are nowhere near that.
Bowen added that panic-buying of fuel is “unAustralian”, saying there was “no need” to do so.
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Bowen maintains fuel supply is secure even though regions have seen shortages
Bowen stressed that the fuel supply remains secure, although he acknowledged that there were issues in regional Australia due to heavy demand. He said:
Our fuel supply is coming in. Australians should know that. When we say the fuel supply’s secure, that’s what we say, that’s what we mean, that’s the facts.
That doesn’t mean that Australians in regional areas haven’t faced real shortages, because demand has been so high.
Two things can be true, and these two things are true.
Updated
Chris Bowen lowers minimum stock requirements for fuel
The energy minister, Chris Bowen, is speaking now in Sydney. He said the country will reduce minimum stock obligations for both diesel and petrol, which will allow fuel companies “more flexibility to manage their supply chains”.
The obligations for diesel will reduce from 2.7bn litres to 2.2bn litres, and for petrol from 1bn litres to 700m litres. Bowen said:
It’s not like they can just press a button and get fuel out the door. But it will make a difference going forward and help them help regional communities, in particular.
He said it’s understandable that Australians are concerned about the fuel supply, but said the country’s minimum stock obligations are “high” and fuel continues to arrive:
Despite the fact that Australia’s fuel has been arriving and that our minimum stock obligations are in good shape, of course we have continued to see unacceptable impacts, particularly in regional Australia, as the supply chain has struggled to cope with massive spikes in demand.
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Angus Taylor criticses government over soaring petrol prices, but doesn’t offer alternative solutions
The opposition minister, Angus Taylor, is speaking in Sydney about ongoing cost of living struggles amid surging petrol prices.
He said:
If you have an economy that’s not working any more, where inflation is crashing households and businesses, where your standard of living is going backwards, then frankly you can’t get ahead.
Taylor claimed energy minster Chris Bowen is “asleep at the wheel”. When asked what the Coalition would do differently, Taylor didn’t provide a concrete answer besides saying you needed to “admit there’s a problem”.
First of all, recognise that there’s a problem. I don’t know how many questions we asked where we laid out issues where people were trying to get fuel. …
The first thing you’ve gotta do if you’re going to fix a problem, is admit there’s a problem. Sadly the real problem here is Chris Bowen.
Bowen said yesterday Australia would relax petrol standards for 60 days in hopes of injecting an extra 100m litres a month into the system.
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Qantas to pay $105m to settle Covid flight credit dispute
Qantas will pay $105m to settle a class action lawsuit over its Covid credit scheme, ending a long-running dispute with some of its affected customers.
Qantas said in a statement there was no admission of liability and that the settlement was subject to federal court approval.
The legal action, run by Echo Law, alleged that Qantas had breached its contracts with customers by failing to provide timely cash refunds for cancelled flights during the pandemic. It provided travel credits instead, with expiration dates.
The airline’s policy generated significant debate, with consumer groups raising concerns over the credit redemption rules.
Qantas later removed the expiry dates on the credits.
The affected flights caught by the class action were scheduled to depart between 1 January 2020 and 1 November 2022, but were cancelled.
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‘My heart sank,’ minister says after boy killed in crash
The Victorian minister, Nick Staikos, commented after a teenage boy was killed in the crash after an alleged attempted carjacking. He said:
My heart sank when I read the police statement this morning, I grieve the loss of any young Victorian life. I don’t know any more than what was in Victoria police’s statement, but what I would say to young people is, this risky behaviour is just not worth it.
I know Victorians have had enough of it and it can have tragic consequences.
Updated
Teen dead after fatal crash after alleged attempted carjacking
Victoria police are investigating a fatal crash in the Melbourne suburb of Hoppers Crossing that took place early this morning.
Officials said an allegedly stolen grey Skoda sedan was chasing another vehicle in what appears to be an alleged carjacking, just after 12am. The Skoda collided with the rear of the other vehicle, which managed to flee.
Shortly afterwards, the Skoda collided with two other cars, rolling several times.
Police said a teen boy inside the Skoda died at the scene. Two other teens, a boy and a girl, were taken to hospital with non-life-threatening injuries under police guard.
Another teen girl was arrested and taken to hospital with minor injuries. She has since been released and is expected to be interviewed later today. The occupants inside the other vehicles suffered minor injuries.
No charges have been filed.
More airlines hike flight prices as Iran war continues to disrupt oil supply
Cathay Pacific, AirAsia and Thai Airways are among a growing number of airlines hiking air fares as conflict in the Middle East boosts oil prices and sends travellers flocking to alternative stopover destinations in Asia.
The US and Israel’s war on Iran has sent the price of oil soaring while restricting access to refineries, with experts predicting air fares could be elevated for months even if the conflict ends.
Some airlines have locked in the price of a portion of their crude oil purchases but not the costs of refining that into jet fuel, leaving them exposed to price shocks.
Cathay Pacific planned to increase fuel surcharges for travellers as it had hedged none of the refiner’s margin and only 30% of its fuel costs.
Read more here:
Middle East war creating ‘largest supply disruption in the history of oil markets’
Oil markets are facing the “largest supply disruption in history” as the war in Iran continues to block tankers from shipping millions of barrels of crude each day, the world energy watchdog has warned.
The International Energy Agency (IEA) said the supply shock ignited by Iran’s effective blockade of the strait of Hormuz meant the world faced a deeper crisis than after the Yom Kippur war of 1973 and the 2022 outbreak of war in Ukraine.
The warning came as Iran issued a statement that was said to be the first from its new supreme leader, Mojtaba Khamenei, to call for the vital trade artery to “remain closed”, in a blow to hopes of a resolution to the crisis.
In response, global oil prices passed US$100 a barrel on Thursday as widespread Iranian attacks on energy facilities in the Middle East overshadowed a vast release of government reserves.
Read more here:
Queensland police searching for man missing in flood waters
Queensland police are searching for a man reported missing after he went into the water in Burnett Heads this morning.
Officials said police and emergency services were called to the area around 1am amid reports the man had gone into the water from a houseboat and had not been seen since.
A search is underway for a missing man in Burnett Heads this morning, 13 March.https://t.co/hYHTg57MOF pic.twitter.com/nuMtvjge1o
— Queensland Police (@QldPolice) March 12, 2026
The river reached a major peak flood of 7.4 metres on Wednesday morning, bursting its banks and flooding major parts of Bundaberg.
The search for the man is ongoing.
Resources minister to meet with US, Japanese and other counterparts amid oil crisis
Australia’s resources minister is heading to Japan for talks with her global counterparts about shoring up fuel supplies in the face of oil market chaos that’s being driven by the war in the Middle East, AAP reports.
The price of brent crude, the US oil benchmark, surged to more than US$100 a barrel on Friday (AEDT) amid reports Iran had been laying mines in the strait of Hormuz – a key trade route for oil from the region.
The resources minister, Madeleine King, said she would meet her counterparts from the US, Japan, South Korea, Timor Leste and other countries at the Indo-Pacific Energy Security Forum, where petrol and diesel supplies would be on the agenda.
“I’m hoping to achieve good discussions about where everyone else is sitting in addressing the fuel supply or demand issues they’re facing in their countries,” she told ABC TV on Friday morning.
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New laws would require sold prices be made public in Victoria
Agents and homeowners will no longer be able to withhold the sale price of properties as part of a Victorian government bid to stamp out underquoting.
The consumer affairs minister, Nick Staikos, is holding a press conference to announce “Australian-first laws” to be introduced to parliament in June that would mandate sold prices be made public immediately after the sale contract becomes unconditional.
He says the change will give a clearer idea of the actual market:
The price of a home in large part is based on the property sales of comparable properties in the area and that is why non-disclosure of the sale price can distort the market. It means that it makes it more difficult to tackle underquoting.
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Resources minister says Iran war will have lasting effects across the world, but Australia still well supplied with fuel
The federal resources minister, Madeleine King, said the longer the war in Iran lasts, the worse the effects will hit “the whole global economy”.
King spoke to ABC News Breakfast earlier this morning, saying:
The ripple effects reach everybody’s shores, including Australia’s. I want to take this opportunity to reassure Australians around the country that we are well supplied with fuel …
We are still seeing ships come in and deliver refined fuel on the west coast and the east coast and we have no indication that that will be delayed in any sense.
King said she couldn’t predict when the conflict will end, but Australia hopes it de-escalates soon.
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Capital gains tax discount ‘overwhelmingly’ benefits investors in Australia’s richest electorates, analysis shows
Investors who live in the wealthy electorate of Wentworth in Sydney’s eastern suburbs claimed about $1.8bn from the 50% capital gains tax discount, according to new research. It reveals how a handful of rich enclaves in Australia’s two biggest cities account for a fifth of the annual benefit from the tax break.
The Australian Council of Social Services is lobbying for a halving of the CGT discount and has used analysis of Australian Taxation Office data from 2022-23 to highlight how the benefits “flow overwhelmingly to a small number of high-income, inner-city electorates in the eastern states”.
In Wentworth, where the average taxable income is $162,561, the average annual capital gains tax break is $13,450 per person, and in total accounts for 7.5% of the $20bn in total benefits.
In contrast, in Blaxland in Sydney’s west, where the typical income is $53,542, people received an average CGT concession of just $333, the report showed.
Read more here:
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Joyce cagey on One Nation’s tax policy
Barnaby Joyce was also asked about One Nation’s tax policies in the lead-up to the South Australian election and the Farrer byelection in NSW.
Joyce said the party’s tax policy would be centred around “proper assessment” of expenses, but he wouldn’t be announcing anything concrete yet as there’s no upcoming federal election.
It’s just like saying to the Labor party or to the Liberal party or to the Nationals: what’s your tax policy for the coming election? Well, If you asked any of them, Sally, you’re going to get exactly the same answer as what I’m giving you. We will cost it.
RN host Sally Sara pressed Joyce for details. The MP responded that it was the “game people are going to play” that would only “confirm the votes of those who are never going to vote for us”. Joyce went on:
We will have a properly costed policy, like every other party has a properly costed policy.
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Joyce says surge in support for One Nation reflects will of the people, not political jostling
Barnaby Joyce spoke to RN Breakfast this morning about One Nation’s targets in the next federal election.
The Nationals’ Bridget McKenzie criticised him yesterday, warning the surge in One Nation could only detract from the Coalition and keep Labor in power. Joyce maintained how people vote is their decision, and the results would reflect the will of the voters. He said:
We want to win seats wherever they are. We have no real target against National seats or Liberal seats, but we want to give people the option to vote for us in Labor seats, in National seats, and Liberal seats, and in teal seats.
If people choose to vote for One Nation, then you must respect that choice. You must understand. You do not own their vote. You earn their vote.
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Two teenagers die after ebike crash near Brisbane
Two teenagers have died after a crash between an ebike and a motorcycle in Greenbank, Queensland, last night.
Queensland police said investigators believe the motorcycle was overtaking a vehicle in the area when it collided with the ebike travelling in the opposite direction around 9pm. The bike, police said, is not believed to have had its headlights on at the time.
A teenage boy and teenage girl riding the ebike were both declared dead at the scene. The rider of the motorcycle was taken to hospital in serious but stable condition.
Investigators are looking into the incident and are asking members of the public with any footage to come forward.
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Greens announce candidate for Brunswick after MP’s cancer diagnosis
The Victorian Greens have announced Adam Pulford as their candidate for the seat of Brunswick in the November state election, after the shock cancer diagnosis of sitting MP Tim Read.
Pulford has represented the community as a councillor and mayor of Merri-bek since 2020. He said it would be a privilege to continue to fight for the “progressive and diverse” Brunswick electorate in parliament:
This election, I want to show that it is possible for everyone to have what they need to be able to live a good life. Affordable rents and housing, fully-funded public schools and health services, and representatives who actually work for people, not corporate profits – this is all possible if people in Brunswick vote Greens.
Read announced in January that he wouldn’t recontest the seat, in Melbourne’s inner city, after his diagnosis of metastatic cancer. He was initially told he was unlikely to survive to the election but he told reporters in February immunotherapy had halved his cancer.
His seat of Brunswick is a safe Greens seat – held on a 13.5% margin over Labor.
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Man dies after being restrained by police in Melbourne
Victoria police are investigating after a man died in Fitzroy North on Thursday afternoon.
Police said in a statement officers responded to calls for assistance from ambulance crews over an uncooperative patient at a property, around 3.50pm. On arrival, officers restrained the man. He then became unconscious and paramedics began CPR.
He died shortly afterwards. The exact circumstances of his death are still being determined.
Detectives from the homicide squad will investigate the incident with oversight from the professional standards command, as is normal practice when someone dies in police custody.
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Good morning, and happy Friday. Nick Visser here to pick up the blog and guide you into the weekend. Let’s get to it.
Queensland and Northern Territory battered by flooding
The deaths are another blow for an area which has been hit hard by the wild weather, Gympie mayor Glen Hartwig told Australian Associated Press.
Up to 400mm of rain fell in 24 hours before flood waters “absolutely smashed” the region’s western areas.
Crops, fences and roads were destroyed but the full extent of the damage won’t be known until flood waters recede.
“Looking at the financial impact on farmers, it will be 12 months before they will take any money from these paddocks that have been destroyed,” Hartwig said.
Chinchilla, north-west of Brisbane, had been next in line after Bundaberg was flooded on Wednesday, swamping hundreds of houses and businesses.
An emergency was declared and exclusion zone set up in the Western Downs town as locals evacuated to the showgrounds.
Nearby Charleys Creek peaked on Thursday at 6.4m, well short of the 2011 record of 7.45m, but more than 60 homes and businesses were still impacted.
Attention has turned further west to Longreach where residents face an anxious wait ahead of the town’s first major flood since 2000.
In the Northern Territory, multiple flood warnings and watches are in place across the saturated Top End.
Residents have been evacuated at Katherine, with further river rises expected.
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Backpackers found dead in submerged car were heading for fruitpicking jobs
Two backpackers were on their way to pick fruit when their car drove off a bridge into flood waters, Australian Associated Press reports.
Their bodies were discovered at Kilkivan, west of Gympie, yesterday in the submerged vehicle during a search for two missing Chinese tourists who disappeared in flood-ravaged Queensland.
The tragedy marked the first flood-related deaths in the rain-drenched region as other communities braced for rising river levels.
The backpackers – a 26-year-old man and 23-year-old woman – left Brisbane on Sunday to take the four-hour drive up to the North Burnett region.
“Their intention was to go to Mundubbera to do fruit picking,” the police minister, Dan Purdie, told reporters.
A friend reported them missing on Tuesday, sparking a large-scale search.
“It looks like the vehicle has driven off a bridge into flooded waters, which is really sad to see,” Purdie said
The victims’ families have been notified and will travel to Australia as police work with the Chinese consulate.
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NSW government extends no-interest loan scheme amid cost-of-living concerns
The Minns government has extended a no-interest loan scheme for a further five years amid renewed cost-of-living concerns including a burgeoning energy crisis caused by conflict in the Middle East.
The government has announced a further $21.5m will go towards the NSW no-interest (NIL) scheme, under which individuals who earn less than $70,000 before tax, or families who earn less than $100,000 combined, can borrow up to $2,000 for appliances, furniture, car repairs or medical expenses, or up to $3,000 for housing-related expenses such as rental bonds.
The NSW minister for better regulation and fair trading, Anoulack Chanthivong, says:
We understand the pressure households in every corner of NSW are facing – whether they need to replace a stove, or a fridge, or are just trying to get help securing a new rental property.
By offering this alternative, consumers can safely obtain items for the household or key medical procedures while safeguarding their financial wellbeing and independence.
About 12,000 people used the scheme in the last financial year, down from almost 13,500 in 2023–24, but there are renewed cost-of-living concerns amid potential fuel shortages. As we reported yesterday, the NSW premier, Chris Minns, has warned against panic buying, saying government departments had met to discuss the coordination of fuel for hospitals and emergency services in the event of shortages.
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Government orders non-essential staff to leave Israel and UAE
The Australian government has told non-essential Australian officials in Israel and the UAE to leave due to the deteriorating security situation amid the ongoing war in the Middle East
Penny Wong, foreign affairs minister, announced the decision on Thursday night in which she said “essential” Australian officials would remain in the countries to help Australians who needed support.
She added that registrations for the department of foreign affairs crisis portal were open for Australians in Bahrain, Kuwait, Lebanon, Iran, Israel, Qatar and the UAE.
The Australian Government has directed the departure of non-essential Australian officials posted to Israel and the UAE, due to the deteriorating security situation. Essential Australian officials will remain in-country to support Australians who need it.
— Senator Penny Wong (@SenatorWong) March 12, 2026
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Welcome
Good morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories before Nick Visser takes you through to the weekend.
