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The Latest Breaking News from Pradeep Philip

Australian growth forecasts slashed as global economy faces inflation spike

OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflation

The Guardian - AU

Brisbane goes for gold with $70b win from 2032 Olympics

The next Olympic Games in Australia is forecast to inject more than $70 billion into the economy over 20 years but an expert has cast doubt over its legacy.

AAP

Reserve Bank tipped to cut cash rate amid growing confidence Australia’s inflation is being tamed

Market pricing implies 95% chance of quarter point drop to 3.85%, but there’s also speculation of surprise bumper half percentage point cut

The Guardian - AU

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Doctors lobby to lose veto on Medicare oversight body

The Australian Medical Association will no longer have to approve the director of the Medicare oversight body under new laws introduced to parliament.

AAP

Medicare billing is a problem but our research found many more GPs undercharge

Australia’s Medicare billing system is overly complicated, bureaucratic and not meeting the needs of a modern health service, potentially leaking billions of dollars. But claims this loss is mostly due to fraudulent billing practices by GPs are inaccurate.

The Conversation

Up to $3 billion in taxpayer money lost to Medicare fraud and non-compliance annually, government review finds

Between $1.5 billion to $3 billion is being lost to Medicare fraud and non-compliance every year, according to an independent review that also warns the overly-complex system is out of date and risks bleeding more taxpayer money.

ABC News

Medicare fraud and non-compliance costing taxpayers up to $3bn, review finds

Government-commissioned report argues structural reform is essential and requires a simpler, clearer billing system

The Guardian - AU

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How many more interest rate hikes? RBA boss Philip Lowe gives clues

Home owners will be slugged with another mortgage bill squeeze after the Reserve Bank raised its interest rates for the 10th time in a row.

The New Daily

Net-zero fail without green hydrogen tax breaks: report

Australia's advantages in renewable hydrogen are being eroded by aggressive tax breaks in the United States that could lock locals out of the future industry.

AAP

Many Australian businesses will scale back climate action when economy slows, survey finds

The 2022 Climate Check international survey also found support in Australia for a crackdown on ‘greenwashing’

The Guardian - AU

One thousand residents urged to evacuate as central west braces for flood peak – as it happened

Pregnant woman and midwife among 10 rescues in NSW town of Forbes. This blog is now closed

The Guardian - AU

Independent inquiry into Medicare fraud

Health Minister Mark Butler has launched an independent inquiry into fraud, inappropriate billing and over-servicing within the Medicare system.

AAP

Australian jobless rate lifts to 3.5pct

The jobless rate grew to 3.5 per cent in August, lifting from the record low 3.4 per cent figure in July.

AAP

First homebuyers will likely be hit hardest by Australia’s interest rate rises

Analysts warn economic consequences of RBA’s ‘blunt instrument’ attempt to limit inflation will fall disproportionately on outer suburbs

The Guardian - AU

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The Guardian - AU

‘World of pain’: warnings of gas shortages amid soaring power prices add to Australia’s energy woes

Market operator warns of possible shortfall of gas supplies on Thursday in Victoria, South Australia and Tasmania amid cold snap

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