16 News

The Albanese Government is enhancing Australia’s fleet of Collins class submarines, through a life of type extension that will reduce risk, enhance capability and maximise availability for the Royal Australian Navy as Australia transitions to a conventionally armed, nuclear-powered submarine fleet. 

The life of type extension will commence with HMAS Farncomb at the end of the month, the first of six submarines to receive an extension. ASC, as the Government’s sovereign submarine sustainment partner, will continue to be responsible for delivering the program. 

Informed by independent expert advice, detailed planning and industry engagement Defence will undertake a conditions-based sustainment approach across the life of type extension program. This will see Defence and ASC retain and restore base components, while continuing to upgrade critical weapons and systems. 

This will reduce engineering and schedule risks and ensure the Collins class remains a formidable deterrent for years to come. 

As one of the oldest boats in the Collins class fleet with the highest number of sea days and distance travelled, HMAS Farncomb’s life of type extension will also include a detailed engineering assessment period to tailor its life of type extension upgrades and inform work required across the class. 

The program will also accelerate and prioritise sustainment work on the fleet’s youngest submarines, commencing with HMAS Rankin. 

Safety will not be compromised and the Collins class will be supported by increased investment of up to $11 billion over the next decade for sustainment, including life of type extension maintenance and the skilled workforce and infrastructure required to maintain this capability. 

In 2024, the Government listed the Collins class submarine capability as a Product of Concern to increase ministerial oversight and management of the capability. This is now driving improvements in process and productivity across Defence and industry. 

Defence industry will continue to play a central role, with both Osborne in South Australia and Henderson in Western Australia remaining integral to sustaining the Collins class fleet. 

Deputy Prime Minister Richard Marles: 

“These decisions reaffirm the Albanese Government’s commitment to keeping the Collins class a potent and highly capable strike and deterrent capability today, and for years to come. 

“Extending the life of all six Collins class submarines is critical to maintaining that edge as we transition the Navy from conventional to nuclear-powered submarines.” 

Minister for Defence Industry Pat Conroy: 

“The Collins life of type extension is a critical capability decision and a major investment in Australia’s sovereign defence industrial base and submarine supply chain. 

“Strong collaboration with Defence industry partners will be essential to keeping the Collins class fleet available as we move towards a nuclear-powered submarine capability.” 

After discussions between Australia and China, including between the Prime Minister and China’s Premier Li, the Albanese Labor Government has helped to secure three shipments of jet fuel, totaling more than 600,000 barrels or about 100 million litres.

The Government has also helped to secure another 38,500 tonnes of agricultural grade urea from Brunei, for Australian farmers, producers, and our agriculture industry, to keep Australia’s food and fiber production systems strong.

This adds to fertiliser and fuel that has been secured through the Albanese Labor Government’s $7.5 billion Fuel and Fertiliser Security Facility, designed to help Australia’s agriculture and transport industries manage the impacts of the conflict in the Middle East.

The Fuel and Fertiliser Security Facility has now helped to obtain around 125,000 tonnes of agricultural grade urea, in addition to the 250,000 tonnes of agricultural grade urea secured from Indonesia in partnership with Incitec Pivot.

This extra fertiliser gives greater certainty to farmers as they make planting and growing decisions, safeguarding our domestic food supply and the food security we provide to our neighbours in the Indo-Pacific region.

The three cargos of jet fuel from China are expected to arrive from early June, and are in addition to the 600,000 barrels or about 100 million litres of jet fuel already secured through the Fuel and Fertiliser Security Facility.

These cargoes from China are a first step and we are working to ensure there will be more to come, to keep our aircraft flying, including to rural and regional areas.

Prime Minister Anthony Albanese:

“In the face of global challenges, my Government will leave no stone unturned to shield Australians from the impact of global fuel challenges.

“The additional 600,000 barrels of jet fuel will help keep Australia moving, and the extra fertiliser will help provide certainty to our farmers.”

Minister for Foreign Affairs, Penny Wong:

““Australia is working with countries in our region to respond to this unprecedented shock to the global economy and ensure the continued flow of essential fuels.

“The Albanese Government is focused on securing the supplies – including diesel, jet fuel, petrol and fertiliser – that Australia needs.”

Minister for Trade and Tourism, Don Farrell:

“The additional jet fuel will support travel to Australia’s world class tourist destinations and support the movement of freight within Australia and exports overseas.”

“The fertiliser we have secured will support Australian farmers to produce the agricultural exports that we sell to the world, helping grow our economy and maintain our reputation as a supplier of world-class exports.”

Minister for Climate Change and Energy, Chris Bowen:

“The Albanese Government is continuing to secure more fuel to help Australians now while we set Australia up to better prepare for future shocks.

“Our efforts throughout Government have made Australia more energy secure now and into the future.”

Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King:

“Securing these jet fuel supplies is just one of the ways the Albanese Government is working with industry to keep people and goods moving.

“This additional fuel will be a welcome boost for our aviation sector and ensure the public can continue to fly with confidence.”

Minister for Agriculture, Fisheries and Forestry, Julie Collins:

“At a time of global uncertainty, our Government is doing everything we can to give our farmers confidence for the future.

“The additional fertiliser we have secured through our $7.5 billion Fuel and Fertiliser Security Facility will mean Australia’s farmers can keep farming.

“Having access to critical inputs like fertiliser underpins the food security of Australia and the countries we export to, particularly in the Indo-Pacific region, which is why we’ve been working day and night with industry to get fertiliser to our farmers.”

A Greens-led Senate inquiry into intergenerational housing inequity, has today revealed a housing crisis out of control where younger generations of renters, first home buyers and people experiencing homelessness are being left behind.

Evidence to the committee today showed:

• Younger people have been disproportionately harmed by government decisions to walk away from directly providing housing. 
• Renters are being left behind by unlimited rent increases and short-term leases.
• In 2024, 40% of young renters in our major capital cities were spending more than 30% of their disposable income on housing. In 2001, that figure was just 26%.That’s a 14 percentage point increase in a single generation.
• The Government won’t meet its target of building 1.2 million houses by 2029. 
• 640,000 people are in need of social housing. Even if the Government manages to fully deliver on the HAFF’s 40,000 promised social and affordable houses, this will only amount to 6% of what’s needed, and there will still be a long waiting list.
• Increase in investor demand for housing has caused massive house price growth and fuelled the current housing crisis.
• Big banks are among the biggest winners of the housing crisis as they make more profit out of home loans than business loans – they make $229,000 in profit on the average 30 year home loan.
• Immigration does not explain the housing crisis. For example, during COVID dwelling prices increased by 32% despite there being effectively no migration during this time.

Greens spokesperson for finance, housing and homelessness and Senator for South Australia, Barbara Pocock:

‘The evidence of this inquiry is clear: The housing gap between generations is widening thanks to successive governments’ failures.

“45% of tax breaks for wealthy property investors have benefited baby boomers. Meanwhile young people today face rising rents and house prices, more insecure employment and massive HECS debts. We are looking at an intergenerational chasm. 

“Housing affordability has deteriorated significantly in Australia, particularly for younger generations. Home ownership rates among young people are falling, rents are rising while wages aren’t keeping up, and young people are making up a large proportion of people experiencing homelessness.

“Labor’s budget does nothing for renters, homeless people and for the 190,000 people on public housing waiting lists. 

“640,000 Australians are in need of social housing right now yet the HAFF will only meet 6% of this demand when it’s fully implemented. That’s unacceptable. 

“The HAFF is too slow, it’s too complicated, it isn’t touching the sides, and it isn’t delivering housing for future generations. 

“Tinkering around the edges of a broken housing system won’t fix the housing crisis. Labor needs to stop working for the 1% and instead start treating housing like a human right.

“It’s time this government looked after the 30% of Australians who rent, many of them young people, who are increasingly facing housing stress.”

New research from the Reserve Bank has confirmed what millions of Australians already knew: big corporations used the cost of living crisis to push through higher prices and boost profits.

“The Reserve Bank has again acknowledged that changes in corporate pricing behaviour played a sizeable role in the inflation crisis,” Greens Economic Justice Spokesperson Senator Nick McKim said.

In Senate Estimates in 2024 Reserve Bank Governor Michele Bullock agreed with Senator McKim that corporations were using the cover of a significant rise in inflation and a lack of competition to boost their profits over and above what would be required to meet increases in their input costs.

“This backs up what the Greens have been saying for years. Corporations used the cover of global shocks to gouge consumers and pad their profits,” Senator McKim said.

“The answer cannot be higher interest rates and more pain for ordinary people while the corporations driving inflation walk away with billions. We need strong anti-price gouging laws to stop corporations exploiting crises to rip people off.”

“One of the reasons Australians are paying too much for food, insurance, banking and flights is because a handful of giant corporations dominate entire sectors of the economy.”

“We need a boost to competition powers to meet this challenge of concentrated market power. Divestiture powers – as exist around the world – are needed so that courts and governments can break up companies that misuse their market power and squeeze Australian consumers.”

“Labor has spent years protecting corporate profits while households have been smashed by higher prices.”

“The Greens will keep fighting for laws that put people ahead of corporate greed.”

The RBA paper can be found here.

The Victorian Greens have called on Minister Penny Wong and the Albanese Government to intervene to protect 11 Australians who have been kidnapped by the Israeli Defence Force.

It comes as 11 Australians trying to bring urgent aid to Gaza were illegally intercepted in international waters by the Israeli Defence Force on Tuesday. The whereabouts and wellbeing of these individuals is currently unknown.

Due to global inaction, many brave humanitarians have attempted to deliver aid to people in Gaza who have been systematically starved and bombed by the Netanyahu Government over the past two and a half years. 

The Greens say, for too long, the Albanese Labor Government has refused to properly sanction the Netanyahu Government and end the arms trade with the Israeli Government. Kidnapping our citizens is totally unacceptable and needs a strong and unequivocal response from the Australian Government.

Leader of the Victorian Greens, Ellen Sandell: 

“In the face of government inaction, these brave people have taken it upon themselves to deliver aid to the people in Gaza. The least the Australian Government could do is intervene to protect these Australians, who have been illegally kidnapped by the Israeli Defence Force.” 

“My office has been inundated with messages of concern from everyday people for their fellow Australians, yet we’ve had silence from this Labor Government.”  

After discussions between Australia and China, including between the Prime Minister and China’s Premier Li, the Albanese Labor Government has helped to secure three shipments of jet fuel, totaling more than 600,000 barrels or about 100 million litres.

The Government has also helped to secure another 38,500 tonnes of agricultural grade urea from Brunei, for Australian farmers, producers, and our agriculture industry, to keep Australia’s food and fiber production systems strong.

This adds to fertiliser and fuel that has been secured through the Albanese Labor Government’s $7.5 billion Fuel and Fertiliser Security Facility, designed to help Australia’s agriculture and transport industries manage the impacts of the conflict in the Middle East.

The Fuel and Fertiliser Security Facility has now helped to obtain around 125,000 tonnes of agricultural grade urea, in addition to the 250,000 tonnes of agricultural grade urea secured from Indonesia in partnership with Incitec Pivot.

This extra fertiliser gives greater certainty to farmers as they make planting and growing decisions, safeguarding our domestic food supply and the food security we provide to our neighbours in the Indo-Pacific region.

The three cargos of jet fuel from China are expected to arrive from early June, and are in addition to the 600,000 barrels or about 100 million litres of jet fuel already secured through the Fuel and Fertiliser Security Facility.

These cargoes from China are a first step and we are working to ensure there will be more to come, to keep our aircraft flying, including to rural and regional areas.

the Prime Minister Anthony Albanese

“In the face of global challenges, my Government will leave no stone unturned to shield Australians from the impact of global fuel challenges.

“The additional 600,000 barrels of jet fuel will help keep Australia moving, and the extra fertiliser will help provide certainty to our farmers.”

Minister for Foreign Affairs, Penny Wong

“Australia is working with countries in our region to respond to this unprecedented shock to the global economy and ensure the continued flow of essential fuels.

“The Albanese Government is focused on securing the supplies – including diesel, jet fuel, petrol and fertiliser – that Australia needs.”

Minister for Trade and Tourism, Don Farrell

“The additional jet fuel will support travel to Australia’s world class tourist destinations and support the movement of freight within Australia and exports overseas.”

“The fertiliser we have secured will support Australian farmers to produce the agricultural exports that we sell to the world, helping grow our economy and maintain our reputation as a supplier of world-class exports.”

Minister for Climate Change and Energy, Chris Bowen

“The Albanese Government is continuing to secure more fuel to help Australians now while we set Australia up to better prepare for future shocks.

“Our efforts throughout Government have made Australia more energy secure now and into the future.”

Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King

“Securing these jet fuel supplies is just one of the ways the Albanese Government is working with industry to keep people and goods moving.

“This additional fuel will be a welcome boost for our aviation sector and ensure the public can continue to fly with confidence.”

Minister for Agriculture, Fisheries and Forestry, Julie Collins

“At a time of global uncertainty, our Government is doing everything we can to give our farmers confidence for the future.

“The additional fertiliser we have secured through our $7.5 billion Fuel and Fertiliser Security Facility will mean Australia’s farmers can keep farming.

“Having access to critical inputs like fertiliser underpins the food security of Australia and the countries we export to, particularly in the Indo-Pacific region, which is why we’ve been working day and night with industry to get fertiliser to our farmers.”