What we learned today, Wednesday 12 February
Thanks for joining us on the blog today. Here’s a wrap of what’s been keeping us busy:
The major parties have struck a deal to cap political donations and campaign spending, sidelining crossbenchers in a major overhaul of federal electoral laws.
Jim Chalmers has announced the government is changing rules so banks won’t consider student debt when granting home loans.
The mining magnate Clive Palmer has lost a high court bid to reregister his United Australia party ahead of this year’s federal election.
The NSW government will hold an inquiry into antisemitism after a motion put forward by the opposition passed the Legislative Council today.
The prime minister has labelled a video circulating online – showing two hospital workers claiming they would refuse to treat Israeli patients and one saying they would “kill them” – as “antisemitic” and “disgusting”.
The Coalition MP Andrew Wallace has today relaunched the Australia-Israel allies caucus, hosting a small event in Parliament House with the Israeli ambassador, Amir Maimon.
Pro-Palestinian demonstrations in Melbourne will move from weekly to monthly.
Donald Trump’s trade adviser Peter Navarro has said Australia is “killing” the US aluminium market, while the president considers an exemption on tariffs for Australia.
Commonwealth Bank has delivered a bumper $5.13bn half-year cash profit, in a result that has beaten market expectations and threatens to attract political attention amid widespread cost-of-living pressures.
Updated
Labor and Coalition reach deal on overhaul of federal electoral laws
The major parties have struck a deal to cap political donations and campaign spending, sidelining crossbenchers in a major overhaul of federal electoral laws.
The legislation is poised to pass on Wednesday night after the special minister of state, Don Farrell, agreed to several amendments to secure the Coalition’s support for his plan to strip big money out of politics.
Guardian Australia understands that under the changes, the cap on individual donations will rise from the proposed $20,000 to $50,000 and the disclosure threshold will increase from $1,000 to $5,000.
The campaign spending limits will remain at $800,000 per electorate, and $90m nationally.
There are currently no limits on donations or expenditure, allowing mining magnate Clive Palmer to spend tens of millions of dollars campaigning at previous elections.
Under the amendment, peak bodies such as the Australian Council of Trade Unions and Business Council of Australia would be able to set aside up to $200,000, or four times the new donations cap, from affiliated unions or members to fund national campaigns.
The agreement will infuriate the crossbench, who have been warning about a Labor-Coalition “stitch-up” that disadvantages minor parties and independents.
The Greens’ democracy spokesperson, Larissa Waters, said the deal would allow the major parties to “keep power and privilege”:
Today, we’re seeing Labor and the Liberals vote together to help themselves, not help the community or democracy.
This post has been updated to clarify the rules around peak bodies.
Updated
