News live: Australia ‘well-supplied’ with fuel, resources minister insists; Wong orders non-essential staff to leave Israel and UAE | Australia news
Resources minister says Iran war will have lasting effects across the world, but Australia still well supplied with fuel
The federal resources minister, Madeleine King, said the longer the war in Iran lasts, the worse the effects will hit “the whole global economy”.
King spoke to ABC News Breakfast earlier this morning, saying:
double quotation mark The ripple effects reach everybody’s shores, including Australia’s. I want to take this opportunity to reassure Australians around the country that we are well supplied with fuel …We are still seeing ships come in and deliver refined fuel on the west coast and the east coast and we have no indication that that will be delayed in any sense.
King said she couldn’t predict when the conflict will end, but Australia hopes it de-escalates soon.
Key events
Queensland police searching for man missing in flood waters
Queensland police are searching for a man reported missing after he went into the water in Burnett Heads this morning.
Officials said police and emergency services were called to the area around 1am amid reports the man had gone into the water from a houseboat and had not been seen since.
The river reached a major peak flood of 7.4 metres on Wednesday morning, bursting its banks and flooding major parts of Bundaberg.
The search for the man is ongoing.
Resources minister to meet with US, Japanese and other counterparts amid oil crisis
Australia’s resources minister is heading to Japan for talks with her global counterparts about shoring up fuel supplies in the face of oil market chaos that’s being driven by the war in the Middle East, AAP reports.
The price of brent crude, the US oil benchmark, surged to more than US$100 a barrel on Friday (AEDT) amid reports Iran had been laying mines in the strait of Hormuz – a key trade route for oil from the region.
The resources minister, Madeleine King, said she would meet her counterparts from the US, Japan, South Korea, Timor Leste and other countries at the Indo-Pacific Energy Security Forum, where petrol and diesel supplies would be on the agenda.
“I’m hoping to achieve good discussions about where everyone else is sitting in addressing the fuel supply or demand issues they’re facing in their countries,” she told ABC TV on Friday morning.
Benita Kolovos
New laws would require sold prices be made public in Victoria
Agents and homeowners will no longer be able to withhold the sale price of properties as part of a Victorian government bid to stamp out underquoting.
The consumer affairs minister, Nick Staikos, is holding a press conference to announce “Australian-first laws” to be introduced to parliament in June that would mandate sold prices be made public immediately after the sale contract becomes unconditional.
He says the change will give a clearer idea of the actual market:
double quotation mark The price of a home in large part is based on the property sales of comparable properties in the area and that is why non-disclosure of the sale price can distort the market. It means that it makes it more difficult to tackle underquoting.
Resources minister says Iran war will have lasting effects across the world, but Australia still well supplied with fuel
The federal resources minister, Madeleine King, said the longer the war in Iran lasts, the worse the effects will hit “the whole global economy”.
King spoke to ABC News Breakfast earlier this morning, saying:
double quotation mark The ripple effects reach everybody’s shores, including Australia’s. I want to take this opportunity to reassure Australians around the country that we are well supplied with fuel …We are still seeing ships come in and deliver refined fuel on the west coast and the east coast and we have no indication that that will be delayed in any sense.
King said she couldn’t predict when the conflict will end, but Australia hopes it de-escalates soon.
Patrick Commins
Capital gains tax discount ‘overwhelmingly’ benefits investors in Australia’s richest electorates, analysis shows
Investors who live in the wealthy electorate of Wentworth in Sydney’s eastern suburbs claimed about $1.8bn from the 50% capital gains tax discount, according to new research. It reveals how a handful of rich enclaves in Australia’s two biggest cities account for a fifth of the annual benefit from the tax break.
The Australian Council of Social Services is lobbying for a halving of the CGT discount and has used analysis of Australian Taxation Office data from 2022-23 to highlight how the benefits “flow overwhelmingly to a small number of high-income, inner-city electorates in the eastern states”.
In Wentworth, where the average taxable income is $162,561, the average annual capital gains tax break is $13,450 per person, and in total accounts for 7.5% of the $20bn in total benefits.
In contrast, in Blaxland in Sydney’s west, where the typical income is $53,542, people received an average CGT concession of just $333, the report showed.
Read more here:
Joyce cagey on One Nation’s tax policy
Barnaby Joyce was also asked about One Nation’s tax policies in the lead-up to the South Australian election and the Farrer byelection in NSW.
Joyce said the party’s tax policy would be centred around “proper assessment” of expenses, but he wouldn’t be announcing anything concrete yet as there’s no upcoming federal election.
double quotation mark It’s just like saying to the Labor party or to the Liberal party or to the Nationals: what’s your tax policy for the coming election? Well, If you asked any of them, Sally, you’re going to get exactly the same answer as what I’m giving you. We will cost it.
RN host Sally Sara pressed Joyce for details. The MP responded that it was the “game people are going to play” that would only “confirm the votes of those who are never going to vote for us”. Joyce went on:
double quotation mark We will have a properly costed policy, like every other party has a properly costed policy.
Joyce says surge in support for One Nation reflects will of the people, not political jostling
Barnaby Joyce spoke to RN Breakfast this morning about One Nation’s targets in the next federal election.
The Nationals’ Bridget McKenzie criticised him yesterday, warning the surge in One Nation could only detract from the Coalition and keep Labor in power. Joyce maintained how people vote is their decision, and the results would reflect the will of the voters. He said:
double quotation mark We want to win seats wherever they are. We have no real target against National seats or Liberal seats, but we want to give people the option to vote for us in Labor seats, in National seats, and Liberal seats, and in teal seats.If people choose to vote for One Nation, then you must respect that choice. You must understand. You do not own their vote. You earn their vote.
Two teenagers die after ebike crash near Brisbane
Two teenagers have died after a crash between an ebike and a motorcycle in Greenbank, Queensland, last night.
Queensland police said investigators believe the motorcycle was overtaking a vehicle in the area when it collided with the ebike travelling in the opposite direction around 9pm. The bike, police said, is not believed to have had its headlights on at the time.
A teenage boy and teenage girl riding the ebike were both declared dead at the scene. The rider of the motorcycle was taken to hospital in serious but stable condition.
Investigators are looking into the incident and are asking members of the public with any footage to come forward.
Benita Kolovos
Greens announce candidate for Brunswick after MP’s cancer diagnosis
The Victorian Greens have announced Adam Pulford as their candidate for the seat of Brunswick in the November state election, after the shock cancer diagnosis of sitting MP Tim Read.
Pulford has represented the community as a councillor and mayor of Merri-bek since 2020. He said it would be a privilege to continue to fight for the “progressive and diverse” Brunswick electorate in parliament:
double quotation mark This election, I want to show that it is possible for everyone to have what they need to be able to live a good life. Affordable rents and housing, fully-funded public schools and health services, and representatives who actually work for people, not corporate profits – this is all possible if people in Brunswick vote Greens.
Read announced in January that he wouldn’t recontest the seat, in Melbourne’s inner city, after his diagnosis of metastatic cancer. He was initially told he was unlikely to survive to the election but he told reporters in February immunotherapy had halved his cancer.
His seat of Brunswick is a safe Greens seat – held on a 13.5% margin over Labor.
Man dies after being restrained by police in Melbourne
Victoria police are investigating after a man died in Fitzroy North on Thursday afternoon.
Police said in a statement officers responded to calls for assistance from ambulance crews over an uncooperative patient at a property, around 3.50pm. On arrival, officers restrained the man. He then became unconscious and paramedics began CPR.
He died shortly afterwards. The exact circumstances of his death are still being determined.
Detectives from the homicide squad will investigate the incident with oversight from the professional standards command, as is normal practice when someone dies in police custody.
Good morning, and happy Friday. Nick Visser here to pick up the blog and guide you into the weekend. Let’s get to it.
Queensland and Northern Territory battered by flooding
The deaths are another blow for an area which has been hit hard by the wild weather, Gympie mayor Glen Hartwig told Australian Associated Press.
Up to 400mm of rain fell in 24 hours before flood waters “absolutely smashed” the region’s western areas.
Crops, fences and roads were destroyed but the full extent of the damage won’t be known until flood waters recede.
“Looking at the financial impact on farmers, it will be 12 months before they will take any money from these paddocks that have been destroyed,” Hartwig said.
Chinchilla, north-west of Brisbane, had been next in line after Bundaberg was flooded on Wednesday, swamping hundreds of houses and businesses.
An emergency was declared and exclusion zone set up in the Western Downs town as locals evacuated to the showgrounds.
Nearby Charleys Creek peaked on Thursday at 6.4m, well short of the 2011 record of 7.45m, but more than 60 homes and businesses were still impacted.
Attention has turned further west to Longreach where residents face an anxious wait ahead of the town’s first major flood since 2000.
In the Northern Territory, multiple flood warnings and watches are in place across the saturated Top End.
Residents have been evacuated at Katherine, with further river rises expected.
Backpackers found dead in submerged car were heading for fruitpicking jobs
Two backpackers were on their way to pick fruit when their car drove off a bridge into flood waters, Australian Associated Press reports.
Their bodies were discovered at Kilkivan, west of Gympie, yesterday in the submerged vehicle during a search for two missing Chinese tourists who disappeared in flood-ravaged Queensland.
The tragedy marked the first flood-related deaths in the rain-drenched region as other communities braced for rising river levels.
The backpackers – a 26-year-old man and 23-year-old woman – left Brisbane on Sunday to take the four-hour drive up to the North Burnett region.
“Their intention was to go to Mundubbera to do fruit picking,” the police minister, Dan Purdie, told reporters.
A friend reported them missing on Tuesday, sparking a large-scale search.
“It looks like the vehicle has driven off a bridge into flooded waters, which is really sad to see,” Purdie said
The victims’ families have been notified and will travel to Australia as police work with the Chinese consulate.
NSW government extends no-interest loan scheme amid cost-of-living concerns
Penry Buckley
The Minns government has extended a no-interest loan scheme for a further five years amid renewed cost-of-living concerns including a burgeoning energy crisis caused by conflict in the Middle East.
The government has announced a further $21.5m will go towards the NSW no-interest (NIL) scheme, under which individuals who earn less than $70,000 before tax, or families who earn less than $100,000 combined, can borrow up to $2,000 for appliances, furniture, car repairs or medical expenses, or up to $3,000 for housing-related expenses such as rental bonds.
The NSW minister for better regulation and fair trading, Anoulack Chanthivong, says:
double quotation mark We understand the pressure households in every corner of NSW are facing – whether they need to replace a stove, or a fridge, or are just trying to get help securing a new rental property.By offering this alternative, consumers can safely obtain items for the household or key medical procedures while safeguarding their financial wellbeing and independence.
About 12,000 people used the scheme in the last financial year, down from almost 13,500 in 2023–24, but there are renewed cost-of-living concerns amid potential fuel shortages. As we reported yesterday, the NSW premier, Chris Minns, has warned against panic buying, saying government departments had met to discuss the coordination of fuel for hospitals and emergency services in the event of shortages.
Government orders non-essential staff to leave Israel and UAE
The Australian government has told non-essential Australian officials in Israel and the UAE to leave due to the deteriorating security situation amid the ongoing war in the Middle East
Penny Wong, foreign affairs minister, announced the decision on Thursday night in which she said “essential” Australian officials would remain in the countries to help Australians who needed support.
She added that registrations for the department of foreign affairs crisis portal were open for Australians in Bahrain, Kuwait, Lebanon, Iran, Israel, Qatar and the UAE.
The Australian Government has directed the departure of non-essential Australian officials posted to Israel and the UAE, due to the deteriorating security situation. Essential Australian officials will remain in-country to support Australians who need it.
— Senator Penny Wong (@SenatorWong) March 12, 2026
Welcome
Good morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories before Nick Visser takes you through to the weekend.
