{"id":180550,"date":"2023-08-26T01:30:31","date_gmt":"2023-08-26T01:30:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180550"},"modified":"2023-08-26T01:30:31","modified_gmt":"2023-08-26T01:30:31","slug":"australia-news-live-treasurer-warns-of-major-challenges-to-climate-homeownership-fossil-fuel-subsidies-costing-taxpayers-65-billion","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/world-news\/australia-news-live-treasurer-warns-of-major-challenges-to-climate-homeownership-fossil-fuel-subsidies-costing-taxpayers-65-billion\/","title":{"rendered":"Australia news LIVE: Treasurer warns of major challenges to climate, homeownership; Fossil fuel subsidies costing taxpayers $65 billion"},"content":{"rendered":"<h3>Save articles for later<\/h3>\n<p>Add articles to your saved list and come back to them any time.<\/p>\n<h3>Key posts<\/h3>\n<ul>\n<li><span><time class=\"_2_zR-\" data-testid=\"datetime\" dateTime=\"2023-08-25T06:51:14+10:00\">6.51am<\/time><\/span>Australian dream disappears in bleak forecast<\/li>\n<li><span><time class=\"_2_zR-\" data-testid=\"datetime\" dateTime=\"2023-08-25T06:35:03+10:00\">6.35am<\/time><\/span>Putin says Prigozhin \u2018made some serious mistakes in life\u2019<\/li>\n<li><span><time class=\"_2_zR-\" data-testid=\"datetime\" dateTime=\"2023-08-25T06:22:17+10:00\">6.22am<\/time><\/span>This morning\u2019s headlines at a glance<\/li>\n<\/ul>\n<ul>\n<li><\/li>\n<li>\n<p><span>1<\/span> of <span>1<\/span><\/p>\n<\/li>\n<li><\/li>\n<\/ul>\n<h2>Australian dream disappears in bleak forecast<\/h2>\n<p>Millions of Australians will miss out on homeownership as the nation heads towards a long period of slow growth in household incomes, forcing more people to fall back on the age pension to pay for shelter.<\/p>\n<p>The trend will put growing pressure on the federal budget, as younger people struggle to get into the housing market, according to a new federal report that says income growth will halve over the next four decades.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.126%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/31c21a7f3596900ba2d606c8ce8ca14052875885\" height=\"390\" width=\"584\"><\/p>\n<p><span>Jim Chalmers holds up a copy of the Intergenerational Report during his address to the National Press Club.<\/span><cite class=\"ojLwA\"><span>Credit: <\/span>Alex Ellinghausen<\/cite><\/p>\n<p>Treasurer Jim Chalmers released the Intergenerational Report on Thursday with a promise to unveil reforms that would lift growth, as the Coalition called on him to reveal his solutions and the Greens demanded more action on housing.<\/p>\n<p>Chalmers said the forecasts should mark the \u201cend of complacency\u201d about the nation\u2019s future, and signalled changes this year to develop more options for people in the drawdown phase of their superannuation, so they could use the income in later life.<\/p>\n<p>The treasurer will speak about the report shortly, but read more on this story here.<\/p>\n<h2>Putin says Prigozhin \u2018made some serious mistakes in life\u2019<\/h2>\n<p>Vladimir Putin has paid tribute to Russian warlord and rebellion leader Yevgeny Prigozhin, while western officials investigating the circumstances of his demise say the Wagner paramilitary group most likely fell victim to an assassination plot.<\/p>\n<p>The Russian president offered his condolences to the families of the victims for the first time on Thursday since the plane crash, praising Prigozhin\u2019s accomplishments, while saying the Wagner chief had committed some serious mistakes.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.394%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/12c3e8165e47c0221848705a57e5b64b2ee69715\" height=\"390\" width=\"584\"><\/p>\n<p><span>Russian President Vladimir Putin has paid tribute to Wagner chief Yevgeny Prigozhin.<\/span><cite class=\"ojLwA\"><span>Credit: <\/span>Reuters<\/cite><\/p>\n<p>Prigozhin\u2019s private jet \u2013 an Embraer Legacy that he had recently used to travel between Moscow, Belarus, his hometown of St Petersburg, and to parts of Africa where Wagner operates \u2013 crashed in the Tver region north-west of Moscow.<\/p>\n<p>The incident occurred two months to the day Wagner mercenaries marched towards Moscow in a short-lived attempt to overthrow the Putin regime.<\/p>\n<p>Find out more about Putin\u2019s comments here, from Europe correspondent <strong>Rob Harris<\/strong>. <\/p>\n<h2>This morning\u2019s headlines at a glance<\/h2>\n<p>Good morning, and thanks for your company.<\/p>\n<p>It\u2019s Friday, August 25. I\u2019m <b>Caroline Schelle, <\/b>and I\u2019ll be anchoring our live coverage for the first half of the day.<\/p>\n<p>Here\u2019s what you need to know before we get started:<\/p>\n<ul>\n<li>Millions of Australians will miss out on homeownership as the nation heads towards a long period of slow growth in household incomes, according to the intergenerational report released yesterday.<\/li>\n<li>Australia subsidises fossil fuels by $65 billion a year, or 2.5 per cent of GDP, mostly through the government\u2019s failure to recoup the associated environmental and health costs from polluters.<\/li>\n<li>Peter Dutton called for a re-think by the Australian Electoral Commission after it said a tick could be counted as a Yes vote in the Voice to parliament referendum, but a cross would not count as a No vote.<\/li>\n<li>Prime Minister Anthony Albanese and Defence Minister Richard Marles will both soon travel to the Philippines as the government walks a tightrope on the South China Sea.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.153%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/7de2a26a6585787995432f85d794f369dc2ddca0\" height=\"390\" width=\"584\"><\/p>\n<p><span>Treasurer Jim Chalmers addresses the national press club.<\/span><cite class=\"ojLwA\"><span>Credit: <\/span>Alex Ellinghausen<\/cite><\/p>\n<ul>\n<li>A judge urged Brittany Higgins\u2019 partner David Sharaz and Liberal Senator Linda Reynolds to settle their legal stoush face-to-face and behind closed doors amid fears the defamation action could cost millions.<\/li>\n<li>As the world goes through what some scientists believe to be its hottest year on record, emperor penguin populations in the Antarctic are suffering catastrophic losses. <\/li>\n<li>Overseas, Vladimir Putin paid tribute to Russian warlord Yevgeny Prigozhin, while western officials investigating the circumstances say the paramilitary leader most likely fell victim to an assassination plot.<\/li>\n<li>And former US president Donald Trump is expected to hand himself in to authorities in the US state of Georgia, as some Republican rivals launched attacks on him at a presidential primary debate.<\/li>\n<\/ul>\n<ul>\n<li><\/li>\n<li>\n<p><span>1<\/span> of <span>1<\/span><\/p>\n<\/li>\n<li><\/li>\n<\/ul>\n<ul>\n<li><\/li>\n<li><\/li>\n<\/ul>\n<h2>Most Viewed in National<\/h2>\n<p>Source: <a href=\"https:\/\/www.theage.com.au\/national\/australia-news-live-treasurer-warns-of-major-challenges-to-climate-homeownership-fossil-fuel-subsidies-costing-taxpayers-65-billion-20230824-p5dz8j.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Save articles for later Add articles to<\/p>\n","protected":false},"author":3,"featured_media":180549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23056],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Australia news LIVE: Treasurer warns of major challenges to climate, homeownership; 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