Morning Headlines

Economic growth to double the rest of Australia 

WA’s economy is set to grow at double the rate of Australia’s over the next year thanks to continued international demand for commodities including iron ore, lithium and agricultural products. The West 

Capital gains tax shake-up would raise $5b a year: Grattan 

An overhaul of Australia’s capital gains tax system could improve the budget by $5 billion annually, and leading economists are throwing their weight behind a return to indexing investment returns to inflation as part of a broader package of tax reform. The Fin 

AusSuper backs Genesis-led goldfields consolidation play 

AustralianSuper will help mining executive Raleigh Finlayson consolidate the gold district around his childhood home in Western Australia under a revised $600 million deal with struggling miner St Barbara. The Fin 

Cost blowouts haunt energy transition plan 

New electricity transmission projects needed to support the transition to renewable energy in Australia may cost as much as 40 per cent more than currently estimated, the Australian Energy Market Operator has been advised. The Fin 

New renewables slow down except rooftop solar 

Australia’s love affair with rooftop solar continued last year, with solar PV systems now accounting for 25 per cent of renewable energy generation, according to the latest investment update from the Clean Energy Council. The Fin 

Labor admits NDIS needs major reboot 
The National Disability Insurance Scheme has ‘‘lost its way’’ and needs far greater reform than just weeding out crooks to ensure it remains sustainable, the Albanese government concedes. The Fin 

Virgin cancels investor talks on IPO 

Virgin Australia’s owners, Bain Capital, have cancelled plans to put the airline’s management in front of potential investors in an IPO, even as the window for an ASX listing in the second half of this year closes. The Fin 

Norwest takeover boost 

Last week’s disappointing drilling results in the onshore Perth Basin have accelerated acceptances into Mineral Resources’ $430 million takeover offer for partner Norwest Energy. The West 

Pilbara defends CFO’s roles 

Pilbara Minerals insists its new chief financial officer won’t be distracted by his chairmanship of a troubled listed payments company that has disclosed a potentially time-consuming shake-up. The West 

The Australian Financial Review 

Page 1: The National Disability Insurance Scheme has ‘‘lost its way’’ and needs far greater reform than just weeding out crooks to ensure it remains sustainable, the Albanese government concedes. 

Page 3: An Australian businessman accused of working with spies from China’s Ministry of State Security was allegedly given cash in envelopes to write reports based on publicly available information, including AUKUS and Quad alliances, lithium mines, iron ore risks and German defence firms. 

Page 4: Jim Chalmers is close to pulling the trigger on a tax rise on big gas producer profits potentially worth billions of dollars extra to the federal government, after the treasurer expressed concern that the petroleum resource rent tax is failing to deliver as much revenue as Labor and the community expects. 

Page 7: An overhaul of Australia’s capital gains tax system could improve the budget by $5 billion annually, and leading economists are throwing their weight behind a return to indexing investment returns to inflation as part of a broader package of tax reform. 

Page 8: Australia’s love affair with rooftop solar continued last year, with solar PV systems now accounting for 25 per cent of renewable energy generation, according to the latest investment update from the Clean Energy Council. 

Page 9: A peak Chinese industry body wants to scrap steep tariffs on Australian barley, arguing costs for Chinese beer manufacturers have soared because of global supply disruptions as domestic production has halved. 

Page 12: New electricity transmission projects needed to support the transition to renewable energy in Australia may cost as much as 40 per cent more than currently estimated, the Australian Energy Market Operator has been advised. 

AustralianSuper will help mining executive Raleigh Finlayson consolidate the gold district around his childhood home in Western Australia under a revised $600 million deal with struggling miner St Barbara. 

Page 15: Virgin Australia’s owners, Bain Capital, have cancelled plans to put the airline’s management in front of potential investors in an IPO, even as the window for an ASX listing in the second half of this year closes. 

Page 16: Regis Resources shares sank nearly 12 per cent after the gold miner downgraded its full-year production guidance, and decided against applying a tax windfall to reverse the toll of uneconomic hedging deals it struck when the gold price was low. 

The Australian 

Page 1: The Indigenous chief of the peak body representing 35 central desert art centres and thousands of artists has called for a broad and extensive investigation into “concerning” claims that white gallery staff painted on Indigenous canvases in the studios of the APY Arts Centre Collective. 

Page 2: Agriculture Minister Murray Watt says Chinese ministry officials are showing a “sincere desire for co-operation” to break down punitive tariffs on Australian wine and strengthen agricultural collaboration following highlevel talks in Canberra. 

The nursing union has launched a fresh attack on the aged care industry over concerns providers will not pass on the Fair Work Commission’s full 15 per cent pay rise to workers, criticising a recent pledge from the sector as “nowhere near enough”. 

Page 5: A peak consumer watchdog has sounded the alarm on the primary health system, declaring it is being “privatised by stealth” as profit-driven companies move in to fill the gap left by the steep decline of bulk-billing and the GP accessibility crisis. 

Page 13: Woodside Energy will put its climate change strategy to a vote of shareholders next year, asking them to back former federal resources minister Ian Macfarlane’s re-election to its board and to ignore a proxy adviser recommendation they vote against the Woodside pay report. 

The West Australian

Page 4: A brand new, fully equipped hospital unit for babies in Perth has been sitting idle for three years and is yet to admit a single newborn, it has been revealed. 

Page 5: Perth is the nation’s top property performer, described as Australia’s most vibrant market, according to a new report. 

Page 8: Penny Wong has warned that war in Taiwan would be catastrophic for all involved, while saying Australia’s diplomatic efforts to keep stability in the region must be underpinned by military heft. 

Business: Last week’s disappointing drilling results in the onshore Perth Basin have accelerated acceptances into Mineral Resources’ $430 million takeover offer for partner Norwest Energy. 

WA’s economy is set to grow at double the rate of Australia’s over the next year thanks to continued international demand for commodities including iron ore, lithium and agricultural products. 

Pilbara Minerals insists its new chief financial officer won’t be distracted by his chairmanship of a troubled listed payments company that has disclosed a potentially time-consuming shake-up.