Hastie warns of rate hike dangers as Greens pitch Yarra clean-up plan

UPDATE - follow-up to Politics live: Chalmers calls social media a 'business model for hate'; half of young Australians say US a 'threat': Liberal MP Andrew Hastie warns that Australians face serious risks from a potential interest rate rise, describing inflation as a hidden tax that destroys personal wealth. He urges the government to reduce spending and control its finances to protect households.

Yarra River Plan

The Victorian Greens launch a $70m election pledge to clean up Melbourne's Yarra River so people can swim in it within the next ten years. The project allocates $50m for pollution and storm water upgrades and $20m in grants for local, green, and First Nations groups. The proposal also brings in stricter rules for polluters, legally binding targets to make the whole river swimmable by 2036, and accessible swimming spots for people with disabilities. Four Melbourne councils and Melbourne Water previously pledged to make the river swimmable by 2050, after swimming was banned in the 1960s due to pollution.

Economic Defense

Assistant Treasurer Daniel Mulino defends the government's economic response after inflation figures hit 4.3% up to September. Mulino blames longer-than-expected conflicts in Iran and higher global energy prices for driving up inflation worldwide. He claims Australia performs better than other nations on labor market outcomes while stressing the need for ongoing budget strength and productivity reforms.

Context

Interest rate decisions and inflation figures heavily influence household budgets and political debates across the country. Major infrastructure and environmental proposals often surface during election periods to win voter support on local lifestyle issues.