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Crikey Worm: Money for something

MONEY BUSINESS Tomorrow’s budget will include a $17.7 billion aged care package to be delivered over four years, which The Australian ($) reports will focus on a workforce initiative “as well as incentives to prop up private residential operators to ensure they remain profitable”. Health and Aged Care Minister Greg Hunt will tomorrow respond to recommendations from last year’s damning royal commission which the Australia Institute’s Centre for Future Work last week estimated would require $10 billion a year to implement while the budget will also reportedly include record suicide prevention funding (although nothing yet on bringing JobSeeker above poverty rates).

Australia s electricity infrastructure undermined by $1 billion per year underinvestment

Date Time Australia’s electricity infrastructure undermined by $1 billion per year underinvestment That is the conclusion of a detailed review of empirical and qualitative data on the transmission and distribution system contained in a new report from the Australia Institute. Key findings: The electricity grid is facing increasing challenges: including increased severe weather events, bushfires, and the need to reliably integrate new renewable energy generation into the system. But years of underinvestment in capital and maintenance have left the system vulnerable to disruptions, failures, and disasters. The report shows that maintenance and operating costs across the system should be increased by at least $1 billion per year, to match historical levels of real spending per electricity customer.Real per capita operating and maintenance expenditures have been slashed by 28% (in distribution) and 33% (in transmission) compared to 2006 levels.

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