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Speaker 1: It's Wednesday, the twenty sixth of March twenty twenty five.

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Speaker 1: Welcome 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. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer. Good morning, Michael, Sean. Five

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Speaker 1: big stories to get through this morning in just five minutes.

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Speaker 1: So we better get going because story number one is

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Speaker 1: all about the budget. Tiny tax cuts, cost of living relief,

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Speaker 1: and energy and healthcare and deficits for the next decade

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Speaker 1: at the centerpieces of last night's federal budget. A budget

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Speaker 1: though that's short on reform, I think it's fair to say.

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Speaker 2: I think so. Let's look at the winners' first tax

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Speaker 2: cuts of five dollars a week from the middle of

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Speaker 2: next year, another five bucks a year later. The Mediicare

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Speaker 2: levy low income threshold was increased. That means more than

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Speaker 2: a million low income households won't have to pay it.

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Speaker 2: Good news for them. One hundred and fifty bucks in

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Speaker 2: a cup in energy bills in the second half of

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Speaker 2: this year, there is non compete clauses in contracts affecting

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Speaker 2: about three million workers. Low and middle income earners. Means

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Speaker 2: that they'll be able to jump between jobs easier. Maximum

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Speaker 2: price of prescriptions have been dropped, more money for GPS

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Speaker 2: to bulk bill, more money for electric surgery, Outstanding university

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Speaker 2: student loan balances will be cut by twenty percent, and

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Speaker 2: the help to Buy scheme first home buyers will be expanded.

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Speaker 1: They're the winners.

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Speaker 2: What about the losers, Sean, not too many, to be

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Speaker 2: perfectly honest. That's because the government didn't try and repair

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Speaker 2: the budget deficit. It was just happy to go and

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Speaker 2: owe lots of money for years and years to come.

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Speaker 2: The Tax Office will get more money over five years

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Speaker 2: to extend and expand its crackdown on tax avoidance. Some

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Speaker 2: consultants PwC, KPMG to Looyd Dy they'll probably find it

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Speaker 2: harder to find work with the government. There's also efforts

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Speaker 2: to rain in the costs of the National Disability Insurance Scheme.

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Speaker 1: I'm cheating a little bit today, Sean. The budget is

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Speaker 1: so big, I'm splitting it across two stories. Story number two.

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Speaker 1: What about the economic outlook from the government? What do

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Speaker 1: we find out?

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Speaker 2: Federal treasure Jim Chalmers said, we've turned a corner let's

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Speaker 2: hope so. The budget, of course, will be in defacit

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Speaker 2: of twenty seven point six billion dollars this financial year

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Speaker 2: forty two billion dollars the next financial year. Outlook for

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Speaker 2: economic growth is a little bit better. Inflation's falling. Treasury

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Speaker 2: expects it to stay in that two to three percent range.

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Speaker 2: Let's hope that means more rate cuts. Title taxing take

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Speaker 2: next year will be six hundred and ninety four billion dollars.

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Speaker 2: Income tax brings in most of the money. Real wages

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Speaker 2: of forecast to grow. That's good news, and unemployment is

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Speaker 2: expected to say low.

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Speaker 1: What's it mean though, Sean, what's the bottom line?

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Speaker 2: Well, not a lot of reform in this one. Nothing

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Speaker 2: about productivity, which is a real problem for the economy.

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Speaker 2: No effort to fix the budget deficit. Nothing on handling

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Speaker 2: Donald Trump in the US and the New Age. Little

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Speaker 2: on pushing the new the energy transition. Basically, Michael a

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Speaker 2: don't rock the boat ahead of the election.

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Speaker 1: Budget On to story number three now, Sean, and the

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Speaker 1: main venue for the Brisbane twenty thirty two Olympic and

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Speaker 1: Paralympic Games will be built in the cities inner north

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Speaker 1: of Victoria Park. This overturned promises not to build a

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Speaker 1: new stadium for the Games.

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Speaker 2: The decision to build the sixty thousand eat stadium in

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Speaker 2: current green space comes more than three and a half

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Speaker 2: years after the city was awarded hosting rights and after

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Speaker 2: two independent reviews and two former labor premiers at a

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Speaker 2: Station palo Ja and Stephen Miles had dissed the idea

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Speaker 2: of building a new stadium. They were preferring to use

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Speaker 2: the Brisbane Cricket Ground but known as the Gabba, but

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Speaker 2: current Premier David chris A fully has adopted recommendation of

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Speaker 2: the Independent Infrastructure and Coordination Authority will build a new

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Speaker 2: stadium costing about three point seven billion dollars.

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Speaker 1: Story number four sean there's a lot of names coming

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Speaker 1: up in this and quite similar, so bear with us.

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Speaker 1: ASX listed gold Road Resources has rejected a three point

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Speaker 1: three billion dollar takeover bid from South African based Goldfield,

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Speaker 1: so gold Road Resources and Goldfields saying the offer is

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Speaker 1: too low and extremely hostile.

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Speaker 2: So Goldfields wants to buy gold Road to take full

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Speaker 2: control over their gray Year gold mine joint venture in

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Speaker 2: Western Australia, one thousand kilometers northeast of Perth. Gold Road

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Speaker 2: said no, it actually wants to buy Goldfields out of

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Speaker 2: the joint venture gold Road, the AX listed company. It's CEO,

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Speaker 2: Duncan Gibbs said it was very surprising that gold Fields

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Speaker 2: has gone down a hostile path and this is happening

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Speaker 2: as another gold company, Northern Star bids five billion dollars

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Speaker 2: for De Gray Mining, which yes, is yet another mining company.

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Speaker 2: So we've got gold Fields bidding for gold Road, We've

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Speaker 2: got Northern Star bidding for Degray Mining. What gets even

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Speaker 2: more complicating is that gold Road as part of De Gray.

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Speaker 2: It's complicated. Gold price is about fifteen percent this year

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Speaker 2: record levels. Gold Roads share price certainly benefited yesterday jumping

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Speaker 2: sixteen percent. But ways to go on this one?

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Speaker 1: Yeah, let's simplify things with story number five sewn, Quantas

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Speaker 1: has revealed a bunch of new features on it soon

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Speaker 1: to arrive Airbus A three twenty one XLR planes, including

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Speaker 1: extra toilets and significantly more overhead storage space.

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Speaker 2: They've got twenty eight of the x lars on order,

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Speaker 2: with the first to arrive by June seven, to be

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Speaker 2: flying by the end of next year. Alongside quantuses existing

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Speaker 2: Boeing seven three, seven eight hundreds with capacity for one

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Speaker 2: hundred and ninety seven passengers, twenty three more than the

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Speaker 2: seven three sevens. Quantus will add an extra toilet to

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Speaker 2: the XLR that means three in economy, not two, according

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Speaker 2: to reporting The Australian. There are also super sized overhead

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Speaker 2: compartments designed to take some stress out of boarding. I'm

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Speaker 2: able to fly three thousand klometers further than the seven

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Speaker 2: three sevens thanks to a central re fuel tank plus

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Speaker 2: low emissions fuel burn. Quatus plans to use the aircraft

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Speaker 2: on domestic services plus short haul long haul. Does that

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Speaker 2: make sense? I don't think so. Places like Barley, New

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Speaker 2: Zealand and potentially in Malaysia got it all right?

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Speaker 1: There we go the top five business stories in five minutes.

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Speaker 2: Thank you very much, Sean, Thank you, Michael.

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Speaker 1: It is Wednesday, the twenty sixth of March twenty twenty five.

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Speaker 1: Remember to hit follow on the podcast, and if five

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Speaker 1: minutes isn't enough, you can find our longer daily show

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Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm

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Speaker 1: Michael Thompson and now it was the fast five business

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Speaker 1: news by year and great have a great day. M