Good morning, Australia! Today is October 2 and here is your news briefing!
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Today's reading time is 7 minutes. - Miko Santos
Here’s what else you need to know to get going and get on with your day.
1️⃣ US federal shutdown begins
We start with breaking news from Washington. The U.S. government has shut down after Senate Democrats voted down a Republican funding bill overnight. This is the first federal funding lapse since 2019.
Here’s what happened: Republicans wanted a seven-week extension of current funding levels. Democrats refused, leveraging their votes to force negotiations over enhanced Affordable Care Act subsidies set to expire later this year. The result? Midnight came and went with no deal.
The White House website now features a ticking clock marking the duration of the shutdown alongside text stating “Democrats Have Shut Down the Government”. Democrats fire back that Republicans control all levers of power, making this their responsibility. Senate Majority Leader John Thune plans to hold repeated votes on the GOP funding plan, trying to pressure more Democrats to flip. Both sides say they won’t negotiate until the other blinks first.
2️⃣ Iron Ore Standoff
Australia’s relationship with China is back in the spotlight this morning. Reports indicate China has temporarily banned shipments of BHP iron ore, and this matters enormously to Australia’s economy.
Prime Minister Albanese says he wants to see this resolved quickly, stating Australian iron ore should be able to be exported to China without hindrance as it makes a major contribution to both economies.
Deputy Prime Minister Richard Marles described it as a commercial matter that officials are monitoring carefully, though he acknowledged China’s economy operates on different terms than Australia’s, making diplomatic intervention potentially complicated.
Opposition Senator Jane Hume is calling it a diplomatic failure, questioning what the Prime Minister accomplished during his China visit just two months ago where he brought mining executives to meet Chinese steelmakers. The government insists companies need to work through commercial negotiations, but the Treasurer will speak with BHP’s CEO.
3️⃣ Home Buying Scheme Goes Live
If you’re a first-time home buyer in Australia, today marks a significant change. The government has brought forward its plan allowing first home buyers to purchase properties with just a 5% deposit, with the Commonwealth backing mortgage insurance.
The government has removed the cap on applicant numbers and raised property price limits - in Sydney up to 1.5 million dollars, Brisbane and Canberra up to one million, and Melbourne up to 950,000 dollars.
The Prime Minister says this will cut the time it takes young Australians to save for a deposit from 11 years down to two or three years in Sydney. Already, 185,000 Australians have benefited from the scheme.
But there’s political opposition. The Coalition argues this is a demand-side policy that will push house prices up without addressing supply issues, with Treasury estimating 70,000 people will take it up against only 170,000 homes built last year. The government counters that they’re addressing both supply and access simultaneously.
4️⃣ Trump’s Gaza Proposal
President Trump has put forward a 20-point peace plan for Gaza, and the clock is ticking. Hamas has three to four days to respond.
Shadow Defense Minister Angus Taylor says Israel has already agreed to the plan, and key Arab states are supporting it, making this potentially the best chance for peace. Former Ambassador to Israel Dave Sharma says countries like Australia should now be calling on Hamas and its backers - Turkey, Qatar, Egypt - to accept this deal.
But there’s skepticism. UN experts speaking in Canberra argue the plan has serious legal flaws. They say the proposed transitional government isn’t representative, doesn’t respect Palestinian self-determination, and lacks concrete benchmarks or timeframes. One expert went so far as to say while he supports it 100% because stopping the killing is the absolute priority, the plan is “not worth the paper it’s not written on” and likely won’t lead anywhere.
5️⃣ Call For Stronger Israel Response
Finally, those UN experts made stronger demands about Australia’s response to the Gaza conflict.
Chris Sidoti, a human rights investigator, says Australia should conduct a complete review of all aspects of its relationship with Israel to identify anything that could be aiding or assisting unlawful acts. His list includes prohibiting all military-related trade, not just weapons but components for F-35 fighter jets that Australia manufactures.
He also called for ending trade with Israeli settlements and removing tax deductibility for Australian organizations that raise money supporting settlements. Most controversially, he said Australia should clearly indicate it will arrest anyone subject to International Criminal Court warrants who sets foot in the country.
Sidoti argued Australia has clear legal obligations under international law that extend well beyond recognition of Palestine, which he called necessary but insufficient.
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