16 News

The Albanese Government has signed a Memorandum of Understanding (MoU) with the Norwegian government, to further support the acquisition and domestic manufacturing of missiles in Australia.

The multilateral arrangement will enhance information sharing and collaboration between Australia, Norway and 10 other countries that use the Naval Strike Missile and Joint Strike Missile, which are developed by Norwegian defence company Kongsberg. The arrangement will support Australia to become a regional missile production hub.  

The Strike Missile Family MoU supports Australia’s efforts to acquire, manufacture and maintain the Naval Strike Missile and Joint Strike Missile, in line with the 2026 National Defence Strategy and 2024 Australian Guided Weapons and Explosive Ordnance Plan. 

The Albanese Government is investing up to $850 million to enable Australia to locally manufacture and maintain the Naval Strike Missile, Joint Strike Missile and priority missile components. This includes the construction of a new missile factory in Newcastle, which will be able to produce missiles for the Australian Defence Force and partner nations from 2027. 

These initiatives form part of the Albanese Government’s investment of up to $36 billion over the decade to accelerate the acquisition and manufacture of longer-range munitions in Australia, in line with the 2026 Integrated Investment Program.

Minister for Defence Industry, Pat Conroy:

“The Albanese Government is investing up to $36 billion over the next decade to make missiles in Australia and uplift our weapons stocks, making our nation more self-reliant and resilient.

“This arrangement will support local jobs and a defence future made in Australia by enabling domestic manufacturing through cooperation with international partners.” 

The Albanese Government will continue to invest in strengthening Australia’s relationships, region and resilience in the 2026-27 Budget, ensuring Australia remains secure and influential in an increasingly uncertain world.

The Budget delivers investments to support peace, stability and prosperity in the Indo-Pacific, strengthen Australia’s partnerships and protect Australians at home and overseas.

The global development landscape is undergoing a profound transformation. Developing countries across the Indo-Pacific are confronting a triple shock of major global aid cuts, trade disruption and energy insecurity linked to conflict in the Middle East.

These pressures risk undermining hard-earned development gains and increasing instability across our region.

At a time of instability and uncertainty, the Albanese Government will continue to prioritise the Indo-Pacific, where Australia has most at stake.

In the 2026-27 Budget, Australia’s total Official Development Assistance will be maintained.

Australia’s development program must be strategic, effective and sustainable. This has required reprioritising some multilateral funding to meet immediate needs in the Indo-Pacific.

Funding will be reduced to the United Nations Development Programme, the Global Partnership for Education, UNAIDS and the Pandemic Fund.

This reprioritisation will ensure that over 75 cents in every development dollar is directed to our region.

The Budget also reinforces Australia’s long-term investment in regional security and strategic partnerships.

The Australia-Indonesia Treaty on Common Security (the Jakarta Treaty 2026), signed by leaders in February 2026, represents the most significant step in the bilateral relationship in decades and reflects the deep trust between our nations.

The Albanese Government will commit $33.2 million to strengthen institutional ties between Australia and Indonesia, increase Indonesian language and country expertise in Australia, and create a new leadership dialogue to foster connections and deepen understanding.

The next phase of our Comprehensive Strategic Partnership with India will build on the unprecedented progress that we have made across strategic, economic and people-to-people fields. The 2026-27 Budget commits $25.3 million to drive Australian business engagement with India’s rapidly growing economy, seed new areas of cooperation through Maitri grants, and strengthen maritime security in the Indian Ocean.

Keeping Australians safe is the first priority of the Albanese Government. The Budget invests $60.5 million to sustain Australia’s critical consular services around the world and support Smartraveller travel advice to help keep Australians safe overseas.

Australia will also continue its steadfast support for Ukraine’s sovereignty and economy in the face of Russia’s unjustified invasion, extending Ukraine’s duty-free access to Australia for a further two years until July 2028.

The Budget also includes $87 million to support the DFAT portfolio, alongside other government entities, to implement Australia’s nuclear-powered submarine program. We are committed to setting the highest non-proliferation standards and implementing robust domestic regulation to oversee Australia’s nuclear safeguards and non-proliferation and nuclear security obligations.

Foreign Minister Penny Wong:

“At a time of global uncertainty, Australia will remain a reliable partner our region can count on.

“We are building the region we want – one that is peaceful, stable and prosperous, where sovereignty is respected and countries can determine their own futures.

“Our investments in diplomacy, development and regional partnerships strengthen both Australia’s national security and the resilience of our region.”

Pacific Island Affairs Minister Pat Conroy:

“Pacific countries are facing growing pressures from climate change, economic disruption and global instability, and Australia is stepping up as a trusted partner.

“We are prioritising targeted investments that back Pacific priorities, strengthen local resilience and support long-term development.

“Australia’s engagement in the Pacific is grounded in trusted partnerships, respect and our shared interest in a peaceful, stable, prosperous region.”

International Development Minister Anne Aly:

“Australia’s humanitarian program opens up opportunities and supports communities to be stronger, safer and more resilient.

“At a time of growing global uncertainty, Australia is continuing to invest in the people and relationships that help create a more stable and secure region for everyone.

“Our humanitarian program reaches some of the most vulnerable communities in our region, making real on the ground change when it comes to health, climate and gender equality.”

Coles being found to have deliberately misled customers with fake discounts shows again that Australia needs powers to break up the supermarket duopoly and an economy-wide ban on price-gouging, the Greens say.

The Federal Court today found Coles misled customers with fake discounts, in a case brought by the ACCC.

“Coles and Woolworths treat customers with contempt because they have an iron grip on this country’s grocery sector,” Greens Economic Justice spokesperson Senator Nick McKim said.

“As the Greens-led Senate inquiry found, Australia needs divestiture powers to forcibly break up the supermarket duopoly, as well as other oligopolies.”

“We also need economy-wide price gouging laws, particularly during a cost of living crisis.”

“The major parties are in thrall to the big corporations because of their political donations. The Greens are not. We need divestiture and price gouging laws now.”

“The Greens have legislation already drafted and ready to go – the only thing we need is for a bit of courage from the Labor and Liberal parties.”

The Victorian Greens have said Labor is on notice to reinstate the $2.4 billion for public schools that was quietly cut last year by Jacinta Allan’s Labor government. 

It comes after a damning report was released from the Greens-secured inquiry into public school funding. The inquiry heard from teachers, school councils and parent groups.

This inquiry revealed – that Victorian public students are being left behind by Jacinta Allan’s Labor government when compared to other jurisdictions. 

The committee heard from parents having to give donations to ensure that the basics were being met – including essentials like tissues and paper. The inquiry also revealed the ripple effects of on students with disability, migrant and refugee, First Nation students and students taking alternative learning and online learning, who are being left behind by this government’s decision to cut funding. 

Key recommendations from the report require the government to specify when it will reach 75% of Schooling Resource Standard Funding and when the funding is met to advocate to the Federal government to compensate public schools for the lack of funding since 2014. 

Victorian Greens Education spokesperson, Tim Read:

“The situation in the so-called ‘Education State’ is dire right now. Teachers are being forced to strike, parents are having to fundraise for tissues, and children don’t have access to the support they need.” 

Victorian Greens Member for Northern Metropolitan and Legal and Social Issues committee member, Anasina Gray-Barberio:

“We won’t let Jacinta Allan’s Labor government’s complete lack of care for our public school students, teachers and staff degrade the future of Victoria’s education system. It is high time that this government reinstates the $2.4 billion they cut last year. With this report Jacinta Allan’s Labor government is officially on notice.”

The latest figures from the NSW Bureau of Crime Statistics and Research (BOCSAR) released today have revealed twin records of both the number of adults in prison, and the number of people on remand awaiting court hearings.

The growth in prison numbers, a greater increase in the last four months than the previous four years, has been driven by people on remand for domestic and sexual violence (55% of increased remand numbers) but lack of services for people charged will create long term increases in offending.

Greens MP and spokesperson for Justice Sue Higginson said:

“The tough on crime populism of this Minns Labor Government is pushing hundreds of extra people into prisons that have little to no diversionary or rehabilitation services in place for them,”

“The increase in people on remand for domestic and family violence charges is only part of the story. Prisons are supposed to be places where people can be helped away from past mistakes, but at the moment these people are at best getting a brochure and just six sessions about healthier relationships,”

“A raw increase in the number of people in prison is not evidence that locking people up is a solution, it’s actually the opposite without a focus on effective services that will reduce the rate of offending once these people leave custody,”

“Statistical and expert evidence tells us over and over that when in remand people are exposed to awful, degrading, and traumatising prison experiences, increasing the likelihood of further offending upon release. We have to break the cycle or accept that the Government isn’t interested in rehabilitation,”

“NSW Prisons are so bad, so harmful to the people in them, that we are on the United Nations watchlist for our breaching of human rights. The chair of the UN’s Working Group on Arbitrary Detention has reinforced that ‘even short periods in remand can increase risk of reoffending, so these tough on crime reforms may make communities less safe, not more.’,”

“My call to the Premier and Ministers responsible is simple: the ‘lock them up’ media headlines are creating an assembly line for tomorrow’s continuing domestic violence crisis. We need coordinated and effective plans to help people on remand with access to a full suite of corrective services, or we will spend the rest of time locked into repeated cycles of violence,” Ms Higginson said.

After five Labor Budgets, Australians are paying more, working harder, and going backwards.

This is a Budget with higher taxes, more debt, more division and no plan to restore Australians’ standard of living or protect our way of life.

The Budget confirms Anthony Albanese and Jim Chalmers are the owners of the highest taxing government in Australia’s history.

This Budget sees the economy burdened with $50 billion of higher taxes including $15 billion in higher personal income taxes.

The Budget also confirms that government spending will remain at its highest level in 40 years, outside of the pandemic.

In another blow to households, the Budget confirms home grown inflation compounded by international factors will hit 5 per cent, well above the RBA’s target band of 2 to 3 per cent, which means interest rates will continue to be higher for longer.

It confirms that living standards will go backwards again, confirming Australians with a typical mortgage are $32,000 a year worse off under Labor even after this Budget.

All families are also feeling the pain of wages not keeping up with Labor’s inflation, with the Budget revealing the buying power of Australians’ wages has declined by 3 per cent under this government.

Once again Labor have blown their own immigration targets, by the end of their first two terms they will have bought in 2 million migrants including overshooting its target by another 90,000 over the next two years. 

Australians are still staring at a decade of deficits, with debt forecast to hit $1.25 trillion.

The yearly interest bill on that debt will hit more than $42 billion or $80,000 per minute.

The Budget also confirms Labor’s housing taxes will reduce the supply of homes by 35,000 over the decade, whilst also increasing rents. 

We have consistently said if you tax something more you get less of it – and Labor’s own budget papers confirm that in relation to housing.

Shadow Treasurer Tim Wilson said the Budget only delivers debt, division and decline.

“This is a Budget of broken promises, higher taxes, lower living standards and fewer homes,” Mr Wilson said.

“It fails Australia’s future economy and has failed the basic test of restoring honesty, Australia’s security and living standards. It pulls the ladder of opportunity up from young Australians before they get their first foot on the rung.

“This Budget is taking from the future to feed Labor’s spending addiction today by taxing growth and opportunity, and adding more debt.

“Restoring honest government should be the easiest test to meet because it involves saving money, but the Treasurer has started Budget season in a trust deficit to match his Budget deficits by openly betraying Australians on new taxes.

“Labor governs for themselves, not Australians, and this Budget is designed to feed their outdated economy, not build the economy Australians will need in the future.

“Australians are living the consequences of Jim Chalmers’ active inflation agenda where he stokes inflation, taxes the inflation and then spends the inflation, eating away at Australians’ living standards. 

“The Albanese government is ignoring warnings from the Reserve Bank and the International Monetary Fund and doubling down on pouring debt petrol on the inflation fire.”

Shadow Finance Minister Claire Chandler said the Albanese government’s attempt at economic reform was really just a cash grab.

“This is a Budget with higher taxes, more debt, more division and no plan to restore Australians’ standard of living or protect our way of life,” Senator Chandler said.

“It is clear when you take a look under the hood, this budget that doesn’t do what it says on the box – it’s simply a tax on Australians trying to get ahead. 

“The Budget and the government’s higher taxes will do nothing to increase productivity and nothing to improve living standards. 

“This is a Budget that projects deficits because Labor cannot control their spending addiction, and that passes the bill onto the next generation of Australians through higher taxes into the future. 

“This government is the master of betrayal. They promise savings in one breath and then spend more in the next.

“Jim Chalmers claims $221 billion in savings, yet this Budget shows the government has also gone on a $324 billion spending spree.” 

“For the last four years, the Albanese government has failed to get its spending under control, and tonight’s budget is no different. The Budget confirms that government spending is still growing twice as fast as the rest of the economy, and it will be young Australians who have to pay the price of that through higher taxes.”

On Thursday night, Opposition Leader Angus Taylor will deliver the Budget in Reply and outline the Coalition’s plan for a Better Australia.

A plan to restore Australians’ standard of living.

A plan to protect our way of life.

A plan to back hard work, reward aspiration, grow the economy and get Australia on the right track.

Australians cannot afford more broken promises, more taxes, more debt and more division.