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Speaker 1: It's Tuesday, the ninth of December twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. Oh Michael Thompson,

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Speaker 1: and good morning, Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: Five stories, five minutes, let's go story number one. Treasurer

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Speaker 1: Jim Chalmers yesterday said federal energy rebates will finish at

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Speaker 1: the end of the year. He has ruled out a

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Speaker 1: second extension.

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Speaker 2: The Energy Bill Relief Fund initially provided a universal three

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Speaker 2: hundred dollars per household rebate for the twenty twenty five

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Speaker 2: financial year that was paid in quarterly installments, and they

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Speaker 2: added another one hundred and fifty dollars to cover up

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Speaker 2: until the end of this month. But that is where

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Speaker 2: it will end. Rebates for household electricity bills have cost

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Speaker 2: the common with almost seven billion dollars since they were introduced.

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Speaker 2: Chalmers yesterday said enough is enough.

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Speaker 1: His comments commas Speculation increases about major reform in next

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Speaker 1: year's federal budget, which we might get a little hint

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Speaker 1: about next week when the mid year Economic and Fiscal

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Speaker 1: Outlook is released.

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Speaker 2: Yeah, there's a bit to this. Government spending has been

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Speaker 2: propping up the economy. Experts say it's time for a change.

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Speaker 2: If that happens, that should help productivity, which is one

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Speaker 2: of the biggest economic problems in Australia. A report from

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Speaker 2: Deloitte released yesterday shows a likely drop in the budget

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Speaker 2: deficit this financial year, but then an increase. Now, if

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Speaker 2: you look at the budget and you want to know

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Speaker 2: whether the government's supporting the economy, how big is a deficit.

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Speaker 2: The bigger the deficit, the more it's supporting the economy.

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Speaker 2: So the Deloitte reports suggests the government won't really be

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Speaker 2: pulling back. On top of all this, we've had Prime

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Speaker 2: Minister Anthony Alberezi saying the May Budget would be the

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Speaker 2: starting point for long lasting economic and social reform and

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Speaker 2: maybe we'll just get a touch of that in the

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Speaker 2: mid year Review my EFO which comes out next week.

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Speaker 2: We wait and see Michael.

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Speaker 1: And of course Sean. It's a big day today for

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Speaker 1: interest rate watches. While the RBA Board is unlikely to

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Speaker 1: shift the official cash rate at two thirty today, it

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Speaker 1: is very possible that Governor Michelle Bullock might just hint

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Speaker 1: that the next move in interest rates is up.

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Speaker 2: Yes, a few people think that HSBC Chief Economist Paul Bloxham,

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Speaker 2: a former Reserve banker, he thinks that bdsha's David Bass

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Speaker 2: and these He thinks a board member advocating a rate

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Speaker 2: hike today isn't out of the question. IMP Shane Oliver,

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Speaker 2: who's been supportive of rate cut, now thinks rates are

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Speaker 2: on hold. Wouldn't be surprised if the RBA sounds just

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Speaker 2: a bit more leaning towards lifting rates.

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Speaker 1: Okay, moving on to story number two. Now, the pressure

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Speaker 1: is building on Prime Minister Anthony Alberanezi to take action

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Speaker 1: over Communications Minister Annika Wells travel schedule after it emerged

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Speaker 1: that she build taxpayers almost nine thousand dollars for return

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Speaker 1: flights so her husband could attend the three AFL Grand

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Speaker 1: Finals when she was Minister for Sport. Her three children

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Speaker 1: also received publicly funded flights to Melbourne on each occasion

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Speaker 1: another day.

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Speaker 2: Another revelation Yesterday's was that in twenty twenty two, twenty

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Speaker 2: three and twenty four she and her husband of flu

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Speaker 2: from Brisbane to Melbourne for the AFL Grand Finals at

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Speaker 2: the expense of the taxpayer. Are the controversial trips involving

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Speaker 2: her husband in recent years included trip to the f

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Speaker 2: One in Melbourne last year, a trip in Adelaide which

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Speaker 2: included a birthday party for a friend. Another threadboad this

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Speaker 2: year during the ski season. Family reunion and titlements permit

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Speaker 2: federal MPs to claim as many as three return business

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Speaker 2: class flights per year for members of their family on

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Speaker 2: the proviso that the travels between MPs electorate and a

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Speaker 2: destination other than Camera. Now, maybe maybe not, Maybe she's

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Speaker 2: an outside of the rules, but given questions over her travel

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Speaker 2: offshore as well, and you remember the New York trip there,

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Speaker 2: with trips to Switzerland France in twenty twenty three, plus

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Speaker 2: these domestic trips, wells is trading a very fine line

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Speaker 2: and probably not passing the pub test.

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Speaker 1: Yeah, okay, story number three. Close to one million Australian

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Speaker 1: workers hold more than one job, with those in community

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Speaker 1: and personal care more likely to have multiple employers.

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Speaker 2: According to the Bureau of Statistics, there were nine hundred

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Speaker 2: and seventy three thousand multiple job holders in the September quarter,

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Speaker 2: six and a half percent of people employed. That compares

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Speaker 2: to about fourteen million single job holders around seven point

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Speaker 2: six percent of that women, five point six percent men.

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Speaker 2: In the twenty five years before COVID, far fewer people

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Speaker 2: had to hold two jobs. That I mean, there was

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Speaker 2: about five or six percent. Did that actually went even

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Speaker 2: lower during COVID because people only could have one job,

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Speaker 2: but then surged in mid twenty twenty two and has

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Speaker 2: never really recovered.

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Speaker 1: Story number four. It isn't an exaggeration to say that

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Speaker 1: the world is watching very very closely Australia's social media

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Speaker 1: ban for under sixteen year olds. It kicks off tomorrow.

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Speaker 1: The New York Times, the BBC, a stack of other

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Speaker 1: international publications are all reporting on the world first from tomorrow.

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Speaker 2: Children under the age of sixteen a band from having

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Speaker 2: social media accounts. Think Facebook, Instagram, kick Reddit, Snapchat, threads, TikTok, twitch,

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Speaker 2: x and YouTube. They've all implemented new rules and processes

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Speaker 2: to prevent children accessing social media sites. The onus is

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Speaker 2: on the social media sites, not the parents. If they

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Speaker 2: don't take appropriate steps, they could be fined forty nine

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Speaker 2: point five million dollars. Bunch of other nations watching Malaysia's

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Speaker 2: already passed similar legislation. European Union says it's watching Denmark's

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Speaker 2: promise to be an under fifteen year olds. I just

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Speaker 2: wish parents well.

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Speaker 1: Indeed, okay, last one story number five. Quantas finally has

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Speaker 1: all this A three eighties back in the air, with

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Speaker 1: the tenth super Jumbo returning to Sydney after nearly six

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Speaker 1: years in storage and heavy maintenance.

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Speaker 2: Named Paul McGinnis after one of the airline's founders. The

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Speaker 2: A three eighty spent three years in the California desert

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Speaker 2: due to the COVID pandemic, and then another two and

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Speaker 2: a half years in Abu Dhabi undergoing maintenance to ensure

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Speaker 2: it's safe return to fly. It's the largest maintenance check

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Speaker 2: completed in quantus as one hundred and five year history,

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Speaker 2: one hundred thousand hours of work, representing a significant milestone

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Speaker 2: for its engineering and fleet renewal programs. Also had a

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Speaker 2: full cabin refresh. The aircraft, which hadn't been on Australian

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Speaker 2: soil for two thousand days, touchdown late last week. It

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Speaker 2: will serve as an operational spare during the Christmas period

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Speaker 2: from January one. It'll boost international capacity by allowing daily

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Speaker 2: AI three to eighty flying on Quantas's Sydney Dallas route.

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Speaker 2: According to The Australian.

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Speaker 1: All right, there we go, the top five business stories

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Speaker 1: in five minutes. Thank you Sean, thank you Michael. It's Tuesday,

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Speaker 1: the ninth of December twenty twenty five. Remember to hit

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Speaker 1: follow on the podcast. That is very important. And if

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Speaker 1: five minutes isn't enough, you're going to find our longer

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Speaker 1: daily show called Fear and Greed wherever you listen to podcasts.

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Speaker 1: I'm Michael Thompson and that was the fast five business

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Speaker 1: news by Fear and Greed. Had a great day,