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A roundup of the most important stories affecting Australians today
The political landscape shifted dramatically over the weekend as Prime Minister Anthony Albanese secured a second term with what he called a "very clear mandate" from Australian voters. In his victory address from Canberra, the Prime Minister struck a conciliatory tone, promising to govern for all Australians regardless of how they voted.
"Today we continue the work of continuing to build Australia's future," Albanese told supporters and media from the Prime Minister's courtyard. The Labor government, which has focused on economic management during its first term, appears to have resonated with voters by "getting inflation down, wages up, interest rates starting to fall, employment growing."
The newly re-elected government has wasted no time setting its agenda, with Albanese identifying student debt relief as his administration's top legislative priority. The plan includes a 20% reduction in student debt (HECS/HELP) and raising the minimum income threshold before graduates must begin repayments.
Student representatives have welcomed the announcement. National Union of Students President Ashlyn Horton called the policy "really exciting," noting it would benefit both current students and recent graduates struggling with rising costs of living. The policy addresses growing concerns about education affordability, particularly following significant price increases for humanities degrees implemented in 2021.
On the economic front, Westpac Bank has reported solid performance for the first half of 2025, posting a $3.3 billion net profit after tax. While this represents a modest 1% decline from the previous year, the bank has maintained strong fundamentals with a return on tangible equity of 11.1% and announced an interim dividend of 76 cents per share.
Westpac CEO Anthony Miller emphasized the bank's resilience, noting that customers have navigated cost of living pressures effectively, with mortgage delinquencies and impairment charges remaining low. Recent interest rate cuts are providing "welcome relief" to borrowers after a challenging period.
Meanwhile, in international relations, Prime Minister Albanese has already engaged with several world leaders, including US President Donald Trump, confirming Australia's commitment to key alliances while focusing on regional partnerships. His first international visit will be to Indonesia, highlighting the importance of our near neighbors in Australia's foreign policy approach.
As the new parliamentary term approaches, business and community groups are watching closely to see how the government will implement its broader agenda, particularly in areas like housing affordability, healthcare, and climate policy.
Stay tuned for more updates as the political landscape continues to evolve in the wake of this significant electoral outcome.
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