What we learned, Thursday 26 March
And with that, we are going to put the blog to bed. Before we go, let’s recap the day’s big headlines.
Australia condemned Iran’s indiscriminate attacks on Gulf states and Jordan, joining with many other like-minded nations at an urgent debate at the United Nations.
Tropical Cyclone Narelle intensified, threatening Western Australia’s Kimberley coast after wreaking havoc across northern Queensland and the Northern Territory since last week.
Fuel was the big political topic again today. The shadow defence minister, James Paterson, said the government has the power to trigger the Liquid Fuel Security Act, which would allow the government to require fuel suppliers and companies to provide more detailed information on exactly where fuel is going and where there are shortages. In NSW, Chris Minns, said his government will use “extraordinary powers” against fuel companies if they are unlawfully blocking independent retailers from purchasing fuel.
And Liberal frontbencher Andrew Hastie said he is open to a new 25% tax on soaring gas profits as part of a Scandinavian-style sovereign wealth fund to strengthen the federal budget amid the global energy crisis.
The Reserve Bank’s assistant governor, Chris Kent, said soaring fuel prices will “make us all poorer”, but that the central bank was focused on making sure the initial energy shock did not lead to “extended inflationary pressures”.
The government backed giving 2.7 million workers an above-inflation boost to their wages to help workers cope with the soaring cost of fuel. Unions are arguing for a 5% rise in the minimum wage from July, in line with where many economists predict inflation will reach as the global energy shock delivers another cost-of-living blow to households.
Thank you for spending part of your day with us. We will be back tomorrow to do it all again.
Updated
Sydney residents to conserve water after 'major water main break'
Residents in more than 40 Sydney suburbs have been urged to conserve water after a main burst last night at a key pumping station.
In a statement, water utility Sydney Water said a “major water main break” early yesterday evening at its West Ryde pumping station had reduced water transfers to parts of the upper and lower north shores. Managing director Darren Cleary said:
While water supply is continuing, this incident has made it harder for us to move water where it’s needed across the north shore.
We’re asking customers to help by reducing non-essential water use so we can maintain supply to the community while we carry out repairs.
A video of the incident posted to social media appears to show an enormous jet of water rising from the building. Sydney Water has issued a conserve water notice, calling for the reduction of non-essential use while repairs are under way over the next few days, including minimising hosing driveways, watering gardens and washing cars.
“You can also help by taking shorter showers and using the half-flush on your toilet.” it said on its website.
Updated
