To help Australia adapt to climate change and manage the disasters that come with it, the federal government this week pledged A$600 million towards establishing the National Recovery and Resilience Agency, and $210 million for the Australian Climate Service initiative.
The sizeable investments make sense, as Australia’s threat landscape has changed. Climate change, drought, land clearing, urban growth and other activities have significantly increased the chances of natural hazards and disasters Australia-wide. All of which are costly to recover from.
The new organisations could deliver revolutionary benefits to Australia by better aligning policy and practice in a more agile way that matches the complex set of threats we face.
MacroBusiness
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Last week,
Interest.co.nz’s David Hargreaves posted the below chart showing how Kiwis have pulled back borrowing for everything except property:
For the record the figures show us that personal/consumer borrowing is continuing to atrophy…
Agricultural lending is continuing to drift lower…
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So, it’s all down, down, down for lending, apart, from well, would you believe it…housing…
The annual growth in the housing stock rose to 9.7%, which was its highest level in just under 13 years…
Ladies and Gentlemen, I present to you The New Zealand Economy:
COVID has made one thing very clear we do not know enough about Australians overseas
May 6, 2021 1.07am EDT
Disclosure statement
George Tan is a member of the Ministerial Advisory Council for Skilled Migration for the Minister for Immigration, Citizenship, Migrant Services and Multicultural Affairs.
Andrew Taylor receives funding from the Northern Territory Department of Treasury and Finance under a grant for independent demographic research.
Kelly McDougall does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
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Mortgage Business
Building approvals hit record $15.6bn: ABS By Malavika Santhebennur 07 May 2021
The value of total dwellings approved hit a record high in March, driven by a spike in non-residential building, according to new data.
The Australian Bureau of Statistics (ABS) has released figures on building approvals for March 2021, which has shown that the value of total building approved rose by 36.3 per cent over March to $15.6 billion.
According to the data, this was driven by a 59.4 per cent rise in the value of non-residential building to the highest level recorded ($6.7 billion), amid a large increase in both private and public projects in March.