Australia election 2025 live: Bowen says Dutton suggestion hosting Cop31 would cost billions is ‘madness’; Bullock says RBA will ‘wait and see’ on possible May rate cut

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Bowen rejects Dutton’s claim hosting Cop31 would cost ‘tens of billions’ of taxpayer funds

Adam Morton

The climate change and energy minister, Chris Bowen, has sharply rejected a claim by Peter Dutton that hosting the Cop31 climate conference in Australia next year would cost taxpayers “tens of billions of taxpayers’ dollars”.

The Coalition leader said on Sunday that bidding to co-host the UN summit with Pacific nations would not “bring down power prices” and suggested, in addition to the cost of running the summit, it would lead to Australia under Labor “giving tens or hundreds of billions of dollars out to third party countries”. He said:

It’s madness. That’s not something we’re supporting.

Peter Dutton and Chris Bowen on Sunday.
Peter Dutton and Chris Bowen on Sunday. Photograph: Mick Tsikas/AAP

Bowen told a media conference today that Dutton was “wrong and he’s lying” and that the figures the Coalition leader cited were “just made up”.

The guy who says the Pacific Islands don’t care about time when the water is lapping against their door now wants to remove the best opportunity for the Pacific to get the world’s attention on climate change.

Bowen said hosting the conference would be “a great opportunity to sell Australia’s renewable energy resources as a renewable energy superpower.

It’s the world’s largest trade fair. Report after report has shown that it’s got huge economic payoffs for the country that hosts it. We see this as in our national interest.

A decision on who hosts the conference is expected in the second half of the year.

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Henry Belot

Henry Belot

Taylor says superannuation sector’s social license is at risk after damning report

Angus Taylor has warned the superannuation industry’s social license is at risk after a damning report by the financial regulator found it was having “devastating impacts” on members experiencing “deep grief, vulnerability, frustration and genuine suffering”.

A report by Asic earlier this week found an unnamed superannuation fund took more than 500 days to approve a death benefit payment to an Indigenous woman grieving the loss of her husband and ignored her concerns about financial hardship and a confusing claims process.

A death benefit is the amount of superannuation a person has remaining in their account after they die. This can be transferred to a family member to ensure bills and expenses can be covered. This payment may also include life insurance payments.

Asic’s chair, Joe Longo, said the report “identified a range of issues including excessive delays, poor customer service and ineffective claims handling procedures”. He called on the industry to “take ownership of the problems and flex their muscle to fix the failings”.

The shadow treasurer Angus Taylor. Photograph: Lukas Coch/AAP

Taylor says a Coalition government would demand the sector improve its treatment of members.

Our message is clear: super trustees must support their members, respect those members’ agency over their money, and ensure the funds run in a way that avoids conflicts of interest, with a focus on financial returns not activism. We will not tolerate anything less.

If superannuation is to keep its social license, it must have a relentless focus on the interests of members. APRA and ASIC have been warning for months about the need for funds to step up on their Retirement Income Covenant obligations.

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