Home Blog World News Australia news live: US approves first major Aukus submarine contract; Harvey Norman facing class action for alleged ‘misleading’ ads | Australia news
Australia news live: US approves first major Aukus submarine contract; Harvey Norman facing class action for alleged ‘misleading’ ads | Australia news

Australia news live: US approves first major Aukus submarine contract; Harvey Norman facing class action for alleged ‘misleading’ ads | Australia news


US approves first major Aukus submarine contract

The United States has approved the first major submarine contract under the Aukus security deal, Press Association reports.

The $275m deal, awarded to American company Electric Boat, was announced by the US government on Thursday.

Under the 2021 security deal, Australia will acquire nuclear-powered submarines with support from the UK and the US, alongside cooperation on military technology.

It will be funded by Australia and cover “support engineering, technical, design agent and design transfer activities” from the United States.

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Updated at 05.46 BST

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Penry Buckley

Penry Buckley

Rural owners would pay lower premiums under NSW emergency services funding model

Rural property owners would pay less towards the funding of fire and rescue services under one of five models proposed for the reform of the emergency services levy (ESL) in NSW.

The Labor government announced its intention to scrap the ESL in 2023, to reduce premiums to encourage more people to insure their homes in the face of greater fire and flood threats. The former Coalition government dropped planned changes in 2019. Today the Minns government has released five potential models for reform which will be considered by a parliamentary inquiry.

The government has committed to introducing a new levy across all property-owners, in line with other states. Under one model, the charge would be determined according to property type, while under another, rural property-owners would pay less than those in regional towns and cities and metropolitan areas.

Under the current levy, households and businesses who take out property insurance contribute 73.3% of the funding for the NSW SES and fire agencies. Local councils contribute 11.7%, and the state government 14.6%. It says all five of its models deliver an average saving of about $65 per residential property.

The NSW treasurer, Daniel Mookhey, says:

double quotation markEvery time a mortgage-holder renews their insurance policy, they’re paying a price no homeowner in any other state has to pay.

We’ve got to try to remove pain-points like this tired, old levy, whenever we can. Especially as the pressures on working families get worse, as the oil shock continues.



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