7.10pm EST
19:10
Labor accuses PM of marketing ploy over submarine base announcement
Labor has accused Scott Morrison of a marketing ploy by announcing the three sites that have been shortlisted for a new base for nuclear-powered submarines. The opposition is also crying foul about the government’s rejection of a “bipartisan consultation mechanism” on Aukus.
The prime minister will use a Lowy Institute virtual event today to argue a “new arc of autocracy” is forming to reshape the world (a version of George W Bush’s “axis of evil” 20 years ago) and he will pledge to build a new base for nuclear-powered submarines on Australia’s east coast.
The new base, to be built in Brisbane, Newcastle or Port Kembla, will “enable the regular visiting of US and UK nuclear-powered submarines”, Morrison will say, according to speech notes distributed by his office to the media in advance.
Defence has reviewed 19 potential sites and narrowed them down to three preferred locations. Defence has now been authorised to engage with the New South Wales and Queensland governments, and local governments, to “begin negotiations on what will be an enormous undertaking”. It remains unclear exactly when Australia will have its own nuclear-powered submarines as part of the Aukus deal with the US and the UK.
Labor’s defence spokesperson, Brendan O’Connor, says Morrison has “taken a leaf out of his marketing playbook by making an announcement about a decision that will be made in 2023 and won’t actually be feasible for more than a decade after that”:
The suggestion for a base for nuclear-powered submarines is just another ploy from the prime minister to get a headline without providing any detail of how this will be implemented or even when it will be delivered …
Of particular concern, the prime minister notes that an ‘arc of autocracy’ is threatening the rules based international order, yet under this government we have seen a failure to deliver the defence assets our country needs to keep us safe, with a host of contracts over budget and facing years of delay.
O’Connor says even though the timeframes for the proposed naval base span several terms of government, and the fact we are on the eve of the next election, the Coalition government “has not yet chosen to brief Labor on developments on strategic decisions”.
Federal Labor supports the Aukus partnership and offered a bipartisan consultation mechanism, but this was rejected. Despite claiming they would keep Labor updated, we haven’t had a single update from the Morrison-Joyce government on this strategically important decision, which is, quite frankly, appalling. Given we are so close to an election, it’s in Australia’s national interests that the alternative government is kept fully briefed.
Updated
at 7.20pm EST
6.26pm EST
18:26
AGL Energy shares have opened lower, as expected, after the company rejected the revised takeover offer of $8.25 per share.
The stock, which last traded on Friday at $7.43, lost 10 cents at the open, or about 1.4%.
The company’s shares had traded at $7.16 prior to Canadian asset manager Brookfield and tech billionaire Mike Cannon-Brookes lobbing an unsolicited bid at $7.50 a share last month.
It remains to be seen if the shares will drop back to the pre-bid levels, with the company no doubt hoping investors will reconsider their doubts about the firm’s plan to split into two by July.
Read more of the deal and its rejection here:
Updated
at 6.29pm EST
6.17pm EST
18:17
I’m hearing inflows into Lake Burragorang behind Warragamba Dam are running at a daily rate of 111 gigalitres and dropping.
That’s promising because it means the spill rate over the dam may not increase much more and may start to decrease.
As of last update from the government, the dam was spilling into the Hawkesbury-Nepean floodplain at a daily rate of about 166GL.
While the coast is expected to cop a dumping from the east coast low, rainfall further inland will be less.
If that’s what transpires, Warragamba may not get to the worst-case scenario of spilling 400GL a day, which was forecast yesterday.
Updated
at 6.22pm EST
5.54pm EST
17:54
Nationals deputy links Japanese encephalitis spread to climate change
Updated
at 6.03pm EST