🦘 Aussie Business Profits Surge, 50-Cent Public Transport Fares to Continue in QLD, 13,700 New Homes On The Way

G’day mate!

Here’s what we’ve got in store for you today:

• Aussie Business Profits Surge

• 50-Cent Public Transport Fares to Continue in QLD

• 13,700 New Homes On The Way

Let’s have a look at the market snapshot before jumping into the news:

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Business is Booming in Oz: Profits Surge Despite Gloomy Headlines!

Get ready to raise a toast to Australian businesses because they're having a record-breaking year!

According to new figures from the Australian Bureau of Statistics, our manufacturing sector just hit an all-time high for gross operating profits.

But wait, that's not all.

Other sectors like construction, professional services, and utilities also joined the profit party!

In total, gross profits across all sectors reached a staggering $538.7 billion - yep, that's more than half a trillion dollars!

So, what's behind this boom?

Well, it seems Treasurer Jim Chalmers' strategies, like simplifying investment approvals, are paying off.

The news is not just good for businesses and shareholders, but it also opens up more opportunities for workers to negotiate better wages.

And while some media outlets scramble to spin doom and gloom, those who are truly in the know are celebrating the sweet taste of success in the corporate world. 

50-Cent Fares: Queensland's Ticket to Happiness for Four More Years!

Queenslanders are in for a treat with 50-cent public transport fares sticking around for at least the next four years, thanks to promises from both major political parties.

Since launching just last month, this fare scheme has already saved commuters a whopping $37 million! That's $7 million a week, folks!

• Premier Steven Miles is all in on making these fares permanent if he wins the upcoming election, claiming the initiative not only saves money but helps keep cars off the road and the environment happy.

• Opposition leader David Crisafulli is on board too, vowing to keep fares low and improve public transport options, particularly in regional areas.

The results have been stellar, with bus usage up by 16%, ferries up 43%, and trains by 22%.

Even tourist hotspots like North Stradbroke Island are seeing a whopping 48% increase in public transport usage!

Looks like Queenslanders can continue to travel without breaking the bank! 

Social Housing Gets the Green Light: 13,700 New Homes on the Way!

Time to celebrate, Australia!

The federal government has given the thumbs-up for the first grants from its $10 billion Housing Australia Future Fund (HAFF), paving the way for a whopping 13,700 social and affordable homes.

Housing Minister Clare O'Neil announced that 185 projects have been approved, significantly speeding up the plans to meet the goal of 40,000 homes in five years.

Among these new builds, there are homes designed specifically for low-income earners and those fleeing domestic violence.

While we cheer for social housing triumphs, not everything is sunshine and rainbows.

The Senate's expected to reject the government's Help to Buy scheme aimed at helping first home buyers.

Critics from the Coalition and Greens are voicing concerns about government involvement in ownership, and negotiations seem to be at a standstill.

As building begins, the hope is to tackle long waiting lists and make housing a bit more accessible for everyone!

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