We’ve rounded up all the latest news from Australia and around the world – so you don’t have to go searching.
1. Government to ban credit card surcharges and make super fairer.
The Treasurer has signaled that unfair credit card surcharges will be banned to put a stop to the gouging of credit card users.
In the government’s response to the Murray inquiry into Australia’s financial system all but one of the recommendations will be implemented.
Shops, cabs, and other merchants will be banned from imposing unfair surcharges on credit cards.
“It has to be about the fair dinkum cost of what someone is actually absorbing and passing on,” Treasurer Scott Morrison said yesterday.
The review represents the biggest overhaul of the financial system since 1997 touching on everything from credit card fees, superannuation, cyber security, and crowd funding regulation.
The government will also ask the Productivity Commission to provide a framework to help people to make good superannuation choices to make the sector more competitive.
“It’s not the fund’s money, it’s not those who run the fund’s money, it’s the workers’ money.” Mr Morrison said yesterday.
Prime Minister Malcolm Turnbull said the review’s recommendations would make Australia’s banking system stronger while also protecting consumers from being charged unfair card surcharges.
“These are some of the important outcomes from the Government’s response to the Murray inquiry,” he said.
2. Former-PM a paedophile claims Senator.
Liberal Senator Bill Heffernan has told a Senate Estimates hearing he had given the Royal Commission into Institutional Responses to Child Sex Abuse a police document that names 28 alleged paedophiles – one of whom is a former Prime Minister.
Senator Heffernan told Attorney General George Brandis that the commission should be expanded to include the legal fraternity
The documents were given to him by a police agency during the Wood Royal Commission into the NSW Police Force and they were “very disturbing” Mr Heffernan said.
“There is a former prime minister on this list and it is a police document. No one seems to want to deal with them,” he said.
“I think it is time, like our churches and our other institutions who are now facing up to the truth, I think it is time the institution of the law faced reality.”
3. Joe Hockey farewells parliament today.
Former treasurer Joe Hockey will make his final speech to Parliament today at 11am before he tenders his resignation.
Fairfax Media reports that he farewelled the party room yesterday telling colleagues he was leaving politics with “many friends and many solid relationships” and while some are “a bit bruised” at present he predicted these relationships “will be repaired” with time.
The Member for North Sydney was first elected in 1996, being promoted to the frontbench in 1998, as Minister for Financial Services and Regulation in the then-Howard government.
Mr Hockey is expected to take up Australia’s most senior diplomatic posting as ambassador to Washington.