Australian Treasurer Joe Hockey wants to raise the nation’s retirement age to 70, the highest in the world, to prevent an aging population from draining state coffers. Miner Noel Chatterton laughs at the idea.
Bill Shorten, who played a key role in the demise of former prime ministers Kevin Rudd and Julia Gillard, said he’ll stand for the Labor leadership as the party seeks to rebuild following its loss in Australia’s election.
Australian Financial Services Minister Bill Shorten said rules on foreign ownership in ASX Ltd ., the country’s main exchange operator, didn’t sink Singapore Exchange Ltd. ’s bid and they don’t need revision.
The Australian opposition may support Prime Minister Tony Abbott’s bid to repeal the nation’s carbon tax if the government agrees to retain an emissions-trading program, Labor leader Bill Shorten said.
Prime Minister Tony Abbott defended the budget and said Australians were put “on notice” about spending cuts before the last election, as polls showed his approval ratings and support for the government slumping.