News and politics live updates: Victoria Premier Ben Carroll vows stronger IBAC powers after watchdog report

Billionaire Clive Palmer has lost another legal challenge to an international tribunal’s decision which dismissed his arbitration claim against Australia.

The Swiss Federal Supreme Court has rejected the action brought by Mr Palmer to the tribunal over a $300 billion dispute involving Zeph Investment Pte Ltd, a Singaporean company ultimately owned by Mr Palmer.

Attorney-General Michelle Rowland has welcomed the Swiss Federal Supreme Court’s rejection of the mining magnate’s applications against Australia, and its decision to award costs against him.

“The Albanese Government has vigorously defended this claim from the outset,” she said in a statement.

Resources Minister and Federal WA MP Madeline King also welcomed the court’s decision saying: “every Western Australian can be relieved that Clive Palmer has lost his court case against Australia in Switzerland”.

Victorian Premier Ben Carroll has vowed to strengthen IBAC’s powers before the next state election while guaranteeing future government pay negotiations will be conducted transparently following the release of the watchdog’s explosive report.

Mr Carroll said his government would implement the reforms IBAC has been seeking and insisted similar conduct would not happen again.

“I can guarantee that. Because I know... that has been discussed, as it should, openly, thoroughly, and transparently,” he said. Asked whether legislation to expand IBAC’s powers would pass before the election, Mr Carroll replied, “Simple answer - yes.”

Victorian Premier Ben Carroll has described the conduct uncovered by IBAC during the state’s firefighters union pay dispute as “poor behaviour” that was “intolerable”, promising to implement the watchdog’s recommendations.

Questioned about the findings, Mr Carroll acknowledged the report detailed failures in government processes but insisted his focus was on restoring integrity.

“This is poor behaviour. It is intolerable. I will take action. I will accept the recommendations and get on with implementing them,” he said.

Victorian Premier Ben Carroll has vowed to implement all recommendations from a damning IBAC report into the state’s firefighters union pay dispute, declaring “integrity’s non-negotiable” as he promised action.

Speaking after the report was tabled in Parliament, Mr Carroll said he had not yet read the findings but had received high-level advice and expected to accept every recommendation. “Integrity’s non-negotiable,” he said.

“I can’t answer for the former premier or former ministers. What I can answer for is what we do from here... considering it seriously, and giving Victorians the action and the answers they want.”

The value of Fortescue shares – linked to millions of Australians’ superannuation accounts – could take a hit with a value downgrade from Morningstar.

The rating agency issued a fair value downgrade of 4 per cent on Fortescue shares on Wednesday to $15.50. Shares are set to open the day’s trading at $18.08.

Morningstar points to forecast lower steel sales in the near term and cost blowouts at Fortescue’s beleaguered Iron Bridge project in northern WA.

Analyst Jon Mills said in the note Fortescue was being hit with multiple issues.

“Cost inflation and lower volumes meant unit cash costs rose 19 per cent in the quarter, to US$19.40 per metric ton, while problems at Iron Bridge persist,” Mr Mill said.

“Despite recent declines, shares trade 16 per cent above our intrinsic assessment, likely due to the market expecting strong iron ore prices of around US$100 per metric ton to continue for longer than we do.”

Fortescue is scheduled to release full-year financial results to the ASX on August 24.

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Victoria’s anti-corruption watchdog has found “serious and concerning” conduct by senior ministers, MPs and public servants during the state’s bitter pay dispute with the United Firefighters Union, warning the behaviour created a heightened risk of corruption.

The Independent Broad-based Anti-corruption Commission (IBAC) stopped short of making findings of corrupt conduct, but found senior government ministers acted contrary to established policies, procedures, codes of conduct and conventions while negotiating a deal with UFU secretary Peter Marshall.

The watchdog said the negotiations took place without the knowledge or involvement of the responsible minister, agencies or government departments, raising concerns about governance and decision-making processes.

Home Affairs Minister Tony Burke has postponed a speech unveiling new immigration measures which he was set to deliver at the National Press Club this week.

Sources have told The Nightly that the address, scheduled for Thursday, included new cuts to net migration as first reported by the ABC.

The delay comes after a cabinet meeting on Monday, which was chaired by Acting Prime Minister Richard Marles instead of Anthony Albanese, who is on leave.

Mr Burke’s speech remains unfinalised according to government sources.

Treasurer Jim Chalmers has released draft legislation to fix unintended consequences in Labor’s budget tax overhaul, including the so-called “widow’s tax”, but the Coalition says the government still has more work to do.

The changes are designed to prevent widows, divorcees and domestic violence victims from being disadvantaged under Labor’s negative gearing reforms.

Speaking to News24, Shadow Treasurer Tim Wilson welcomed the proposed fix but said Labor should not be praised for correcting its own mistake.

“We know already that there are widows that are being hit by Jim Chalmers’ higher taxes, but what he’s done is given an edict basically to the banks not to implement the law,” Mr Wilson said.

“It should be done, it should have been done properly the first time and the best way to do it to make sure it goes through a process, make sure we get input for people who are impacted.”

Small businesses across the country could soon save thousands on their power bills through expansion of a national solar program.

Climate and Energy Minister Chris Bowen will use an address to the National Press Club on Wednesday to announce an expansion of the small-scale renewable energy scheme.

Solar systems of up to one megawatt will be eligible for financial incentives, taking about 20 per cent off the installation price.

“Lower energy costs will improve productivity and competitiveness across manufacturing, agriculture, retail, transport and logistics, with benefits flowing through to households using those goods and services,” Mr Bowen is expected to say.

The scheme will be particularly targeted at medium-density housing, termed the “missing middle”, to encourage solar use on townhouses and apartments.

“It means more regional and remote areas will have access to clean, reliable and affordable solar energy,” the minister will say.

About a third of Australian homes have rooftop solar, with a system of between seven and 12 kilowatts.

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The Walking Dead’s fictional plot serves as a useful metaphor for the reality of where the Federal Labor government finds itself. Approaching the halfway mark of his second term with his eye on seeking a third and maybe even a fourth, Prime Minister Anthony Albanese has conquered his first-term zombies.

Returning a stunning 94-seat majority in May last year, he crushed his Liberal opposition and reduced them to a rump of just a handful of frontbench performers.

To continue the zombie metaphor, the scarier opponents that now circle and stalk Labor are One Nation.

And Pauline Hanson does not play by the same rules. She is already banning journalists from media outlets that she does not like, and has happily platformed a far-right convicted criminal in the UK who agitates against Muslims.

Telling voters Pauline Hanson lacks credibility or experience to run the country may not matter to them. What matters is that she sits outside the status quo. And right now the face of status quo is Mr Albanese.

It is true that it makes for “orderly government” as the prime minister is so fond of saying.

But it also sends a signal to the public that their elected representatives are feckless, unwilling or incapable of taking up their concerns — in effect, zombie MPs. Forget about coming across as authentic; just a pulse would do.

If he leaves voters wondering why they gave him 94 MPs, only for the bulk of them to say and do as little as possible, he should not be surprised if voters grow disillusioned and see the once great Labor Party as out of touch with their despair, that life doesn’t seem to be getting better.

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