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Speaker 1: International correspondence with ends in Eye Insurance Peace of Mind

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Speaker 1: for New Zealand Business Australia correspondent Murray Good afternoon, Hello Ryan,

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Speaker 1: Good afternoon to you. What's happening? The city man has

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Speaker 1: been arrested for three anti Semitic attacks, Well he has.

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Speaker 2: He was already in custody after being charged with the

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Speaker 2: attempted fire bombing of a synagogue in Newtown for those

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Speaker 2: who know Newtown, it's just in the inner West of

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Speaker 2: Sydney and now Strikeforce Pearl. Police have accused him of

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Speaker 2: fire bombing the former home of one of Australia's leading

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Speaker 2: figures in the Jewish community, plus an anti Semitic vandalism

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Speaker 2: attack with another half wit in Sydney's East of the

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Speaker 2: same day as a Newtown attack. Police have used a

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Speaker 2: close circuit telly and telephone records to put the pair there.

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Speaker 2: It's also been revealed this fellow, this thirty seven year old,

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Speaker 2: is now in protective custody in prison, he's been attacked

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Speaker 2: twice and nicknamed Nazi, apparently by other prisoners. According to

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Speaker 2: his lawyer, these two attacks happen after word got around

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Speaker 2: inside jail that he's a white supremacist, so he is

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Speaker 2: in protective custody and he and his co acques will

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Speaker 2: be up in court. I'm pretty sure April.

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Speaker 1: All right, Murray. We had that RBA decision yesterday and

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Speaker 1: unemployment today up to four point one percent.

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Speaker 2: That's true, Yeah, four point one and that's the way

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Speaker 2: the Reserve Bank of Australia wants the unemployment rate to go,

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Speaker 2: the argument being that if more people are actually out

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Speaker 2: of work, there'll be less pressure on inflation and that'll

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Speaker 2: mean more opportunities to lower interest rates. It's a bit

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Speaker 2: of a paradox these figures, because you've got full time

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Speaker 2: jobs up by fifty five thousand, part time jobs down

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Speaker 2: by ten thousand, so there's more confidence out there amongst employers.

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Speaker 2: They are willing to hire people. That's pretty clear. The

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Speaker 2: number of unemployed people went up by twenty three thousand.

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Speaker 2: More women found work than men. But the Reserve Bank

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Speaker 2: made it very clear on Tuesday won't be rushing to

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Speaker 2: slash interest rates while the labor market remains very strong.

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Speaker 2: So we've had this one, but they're saying, don't hold

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Speaker 2: your bread for the second. It could come the next month,

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Speaker 2: but it might not.

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Speaker 1: All right, what about the steel works, so it's a

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Speaker 1: lot of money to be spending to keep it alive

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Speaker 1: until there's a new operator. Are they trying to do

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Speaker 1: something green with this?

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Speaker 2: Well, interestingly no, I mean the Premier of South Australia,

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Speaker 2: who's a very savvy operator, he's actually closed down a

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Speaker 2: green hydrogen plant. I'm not sure from this distance if

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Speaker 2: it's going to be a permanent closure or it's just

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Speaker 2: been shut down. In the meantime, with all the focus

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Speaker 2: going into boosting the steel manufacturing capability of Wayela, it

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Speaker 2: is Australia's number one steel manufacturing center, makes around seventy

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Speaker 2: five percent of Australia's steel. It's a city of twenty

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Speaker 2: two thousand people and twelve hundred are directly employed by

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Speaker 2: the steel works. So that's why the federal and South

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Speaker 2: Australian governments have jumped in with two point four billion

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Speaker 2: Australian dollars three hundred billion bucks to creditors right away,

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Speaker 2: because of course the state government put the steel works

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Speaker 2: in the administration yesterday because of the debts, you know,

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Speaker 2: so much money. So three hundred billion dollars to creditors,

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Speaker 2: half a billion dollars to be spent on keeping the

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Speaker 2: steel works open and an upgrade of course of steel

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Speaker 2: works infrastructure. I mean, I think you know this thing

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Speaker 2: is it's pretty old and you have to look at

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Speaker 2: this too through the prism of politics, because there's no

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Speaker 2: mistaking Alban Easy there propping up a very significant local

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Speaker 2: industry in South Australia. He says, we simply can't be

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Speaker 2: a country that just digs stuff out of the ground.

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Speaker 2: We have to manufacture things as well. Steel very very

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Speaker 2: important to the Australian economy and so that's why we're

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Speaker 2: spending big on this clapped out steel works in Wyala.

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Speaker 1: Yeah, what has done said anything about this yet? Because

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Speaker 1: obviously the Union.

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Speaker 2: Is Peter Dutton has been absent from the political stage

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Speaker 2: ever since Tuesday's interest rate cut. I don't know where

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Speaker 2: he's hiding, but he's hiding somewhere. I mean, they'll probably

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Speaker 2: find some reason to say, oh, you know, it's too

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Speaker 2: much money or whatever, but it's hard to argue in

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Speaker 2: the context of an election that it's bad to spend

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Speaker 2: money employing people, saving a vital Australian industry and keeping

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Speaker 2: a town alive in a pretty important state.

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Speaker 1: Yeah, certainly good politics for Elbow Murray, Thank you for that.

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Speaker 1: Murray olds Out Australia corresponding For more from Hither Duplessy

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