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Speaker 1: It's Tuesday, the fifteenth of July twenty twenty five. Welcome

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Speaker 1: to the Fast five by Fear and Greed, where we

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Speaker 1: give you the top five business stories you need to

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Speaker 1: know in just five minutes. I'm Adam Lang and good

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Speaker 1: morning Sean Aylmer.

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Speaker 2: Good morning, Adam sure On story number one, the Albanezy

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Speaker 2: government has been told by Treasury that the budget cannot

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Speaker 2: be fixed without raising taxes and cutting spending, and that

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Speaker 2: its housing target is unachievable.

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Speaker 3: The advice was to the ABC, obtained via freedom of

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Speaker 3: information request, came out the labour's reelection and warns the

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Speaker 3: government signature pledged to build one point two million homes

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Speaker 3: over the next five years to address the housing crisis

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Speaker 3: will not be met. It says treasure Jim Chalmers will

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Speaker 3: need to find additional revenue when spending reductions to meet

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Speaker 3: his objective of a sustainable budget. Improvements to the budget

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Speaker 3: will need to come from economic growth, additional revenue and

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Speaker 3: spending reductions, and that tax should be raised as part

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Speaker 3: of a broader tax reform program. The advice doesn't recommend

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Speaker 3: which taxes should be raised, but suggest that Treasury canvasses

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Speaker 3: indirect taxes and superannuation tax as possible targets. It also

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Speaker 3: appears to favor lower taxes on companies to help burst

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Speaker 3: investment and on personal incomes to encourage workforce participation and

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Speaker 3: to give workers a fair go. The materials came from

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Speaker 3: Treasury's incoming Government brief to the department ministers, including Charmers

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Speaker 3: and Housing Minister Clare O'Neill Sean.

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Speaker 1: This Treasury advice was leaked yesterday. So what was the

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Speaker 1: government's response.

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Speaker 3: Well, Jim Charmers said he was relaxed about the leak.

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Speaker 3: First up, he said the government had already said it

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Speaker 3: needs to do more to hit its housing targets, and

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Speaker 3: then he reckons that. He said that he thinks that

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Speaker 3: the government can achieve that target. He said the government

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Speaker 3: broadly wants to simplify the tax system, wouldn't be drawn

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Speaker 3: on the GST. He also said the government had conservative

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Speaker 3: assumptions on the price of iron or assuming iron ore

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Speaker 3: prices say around one hundred USLS a ton, which is

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Speaker 3: where they are at the moment, that should help the

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Speaker 3: budget bottom line. Mister Chalmers Ire Dr Charmers in fact,

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Speaker 3: is heading to South Africa later in the week for

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Speaker 3: the G twenty summit. He said that global economic conditions

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Speaker 3: will be the primary influence on the local economy and

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Speaker 3: I quote him when asked about their current state of affairs.

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Speaker 3: Extreme global economic uncertainty compounded by conflict and trade tensions

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Speaker 3: around the world.

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Speaker 1: Sean story number two. Prime Minister Anthony Alberanzi, who is

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Speaker 1: currently visiting China, talked up the partnership between Ossie iron

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Speaker 1: ore miners and Chinese steelmakers yesterday, highlighting that Australian iron

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Speaker 1: ore comprises about sixty percent of all or imports into China.

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Speaker 3: And that discussion led into the need to decarbonized steelmaking.

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Speaker 3: Steel making value chains are responsible for about eight percent

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Speaker 3: of global emissions. Alberinezi said decarbonization of steel value chains

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Speaker 3: presents an opportunity for Australia and China to progress long

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Speaker 3: term economic interests. He talked about fort Esku's ambitious green

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Speaker 3: metals projects. He also mentioned Hancock prospecting BHP rare or

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Speaker 3: working with Chinese firms. Mister Aberenzi agreed that the strong

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Speaker 3: economic relationship between China and Australia can improve peace and

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Speaker 3: stability in the region. He will be meeting President Jijing

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Speaker 3: Ping today and decarbonization and free trade are the main

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Speaker 3: areas of interests he wants to discuss.

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Speaker 1: Story number three. Bitcoin has notched another record, pushing beyond

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Speaker 1: one hundred and twenty thousand US dollars a unit. Sean

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Speaker 1: tell us about that.

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Speaker 3: The cryptocurrency has plenty of friends out there. It's training

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Speaker 3: around one hundred and eighty thousand OZSIE dollars a unit,

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Speaker 3: pretty incredible, up nearly sixty percent since it's low in

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Speaker 3: April eighty seven percent over the last year. Overnight, the

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Speaker 3: US House of Representatives debated a series of bills to

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Speaker 3: provide the digital asset industry with national regulatory framework, which

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Speaker 3: advocates for the currency have long wanted. Hoping is the

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Speaker 3: fact that Donald Trump calls himself the crypto President. Bitcoin's

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Speaker 3: renewed momentum has spilled over to smaller tokens, with ether,

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Speaker 3: XRP and solana au rising.

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Speaker 1: Also Story number four. The first Census questions on sexual

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Speaker 1: orientation and gender will be sent out to sixty thousand

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Speaker 1: households as part of a practice version of the twenty

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Speaker 1: twenty six nationwide survey.

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Speaker 3: The IBIA Statistics said the homes have been chosen to

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Speaker 3: take part in a test Census on August five to

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Speaker 3: make sure the real event runs without incident. The tests

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Speaker 3: will include questions planned for the twenty twenty sixth Census,

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Speaker 3: including the first set of questions about sexual orientation and

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Speaker 3: gender for people over sixteen. The bureau s at homes

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Speaker 3: in Melbourne and Perth, as well as locations in Regional Queensland,

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Speaker 3: New South Wales and Western Australia have been chosen for

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Speaker 3: the voluntary test run of next year's census. Of course,

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Speaker 3: the Census nationwide count of household information about not about

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Speaker 3: exactly every five years provides a snapshot of Australia's population

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Speaker 3: and helps inform government decisions about spending, resource allocation and

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Speaker 3: policy development.

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Speaker 1: Story number five. The number of reported measles cases in

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Speaker 1: the US has reached a thirty three year high, with

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Speaker 1: nearly one thy three hundred confirmed infections across the country,

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Speaker 1: marking a new milestone in the outbreak of the highly

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Speaker 1: contagious and vaccine preventable disease.

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Speaker 3: The John Hopkins University data shows measles cases have been

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Speaker 3: reported in thirty eight states and the District of Columbia

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Speaker 3: this year. At least three people have died from the

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Speaker 3: illness one hundred and fifty five others in hospital. A

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Speaker 3: vast majority of the measle cases nine two percent, we're

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Speaker 3: in people who are either unvaccinated or whose vaccination status

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Speaker 3: was unknown, According to the Center for Disease Control. The

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Speaker 3: outbreak comes as any vaccine sentiment in the US and

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Speaker 3: elsewhere has grown. Health Secretary Robert F. Kennedy Junior previously

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Speaker 3: spread misinformation about childhood vaccinations minimized the outbreak. Now he's

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Speaker 3: sort of endorsed the measles, mumps and Rebella vaccine as

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Speaker 3: the illness spread. He said in a post on next

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Speaker 3: that it is the most effective way to prevent the

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Speaker 3: spread of measles.

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Speaker 1: That's it, the top five business stories you need to

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Speaker 1: know in just five minutes. Thank you Sean, Thank you Adam.

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Speaker 1: It's Tuesday, the fifteenth of July twenty twenty five. Remember

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

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Speaker 1: isn't enough, then find our longer podcast called Fear and

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Speaker 1: Greed on your favorite podcast platform. I'm Adam Lane and

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Speaker 1: that was the Fast five by Fear and Greed. Have

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Speaker 1: a great day.