Squiz Today / 25 October 2022

Squiz Today – Tuesday, 25 October

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Squiz Today Podcast

It’s your hands-free news briefing.

Today’s listen time: 9 minutes

17 / 26
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Squiz Sayings

“My ski just kind of lifted off the water, and then next thing I knew, I was in the air, and I was in the water.”

Said teenager Nathaniel Drummond, who had a lucky escape after a shark attacked his surf ski during a competition in Adelaide. No one knows what kind of shark it was or where it went – it just disappeared into fin air…

Let’s get you Budget ready

Giddy up, thrillseeker… Treasurer Jim Chalmers will deliver the Albanese Government’s first Budget tonight, but don’t expect the all-singing, all-dancing performance reserved for what’s usually delivered in May each year. The new mob will use tonight to chuck out the last bits of the Morrison Government’s agenda so they can put funds behind charting their own policy course. But Chalmers and PM Anthony Albanese have also characterised this ‘mini-Budget’ as a reconciliation of our federal finances with domestic and global economic headwinds.

Ok. Imagine a beach where you’re stretched out with a luxurious cocktail, and it’s warm and relaxing. This is the opposite of that. When it comes to our nation’s finances, it’s raining non-stop, there’s nowhere to hide, and the booze is more like headache-inducing Passion Pop than Champagne… Chalmers will probably spend a fair bit of tonight laying out the current challenges. Reports yesterday said our outlook will be downgraded for this and next financial year – that means our economy isn’t growing as fast as we’d like to see. Accompanying that is a need to cut government spending to put the federal budget on a more sustainable footing. And forget about wages rising or inflation falling to reasonable levels anytime soon – Chalmers says 2024 is the year for that… That means tonight’s effort won’t be about “fancy” or “flashy” new policies, it’s more about the tricky landscape the government is navigating.

According to what Labor’s senior pollies have said, we’ll see how the new government will ease cost-of-living pressures, as promised at the election. We’ll also get a sense of how they will fund their election promises and seek to repair the situation inherited from the Morrison Government – long story short, our nation is carrying a lot of debt, largely because of the pandemic. For the Coalition’s part, they want to see measures that will drive economic growth and contain spending. Treasury spokesman Angus Taylor said “Australians need Jim Chalmers to stop complaining about the challenges of this economy … If the treasurer can deliver on these priorities, we will back him in. If not, we will hold him to account.”


Squiz the Rest

Sunak is the UK’s new PM

Former Chancellor (aka Treasurer) Rishi Sunak will be sworn in as the UK’s new PM later today after former PM Boris Johnson and minister Penny Mordaunt declared themselves out of the running. It’ll make Sunak the UK’s first British Asian prime minister, the first Hindu to hold the office, and at 42yo, he’s the youngest national leader in more than 200 years. Telling Conservative MPs that they need to “unite or die” after months of instability, Sunak says he will serve with “integrity and humility, and I will work day in, day out, to deliver for the British people.” He’ll need to because there are some challenges… Oxford and Stanford educated, Sunak worked at fancy bank Goldman Sachs before entering politics in 2015. He’s married to the daughter of one of India’s best-known businessmen, and in short, he’s rich. Labour, the Scottish National Party, the Liberal Democrats, and the Greens are continuing their calls for a fresh election.

World News

Bomb allegation starts ‘dirty’ row in Ukraine

Ukraine and its allies have labelled Russian claims that Ukraine is preparing to use ‘dirty bombs’ – devices that use explosives to scatter radioactive waste – “as absurd as they are dangerous”. President Volodymyr Zelensky responded saying Russia is the only nation willing to use nuclear weapons in Europe. The US has called Russia’s claims a “false flag operation” to lay the groundwork for their own escalation of the war. Russian Defence Minister Sergei Shoigu started the dirty bomb rumour during calls with his counterparts in the UK, US, France and Turkey without offering any evidence. Analysts say the accusations paint the picture of an increasingly desperate Kremlin that’s continuing to suffer military defeats as Ukrainian troops regain ground in the east and south through successful counter-offensive operations.

World News

Flood threats remain as more rain falls

Flooded regional centres in eastern Oz are beginning to assess the damage, with drone footage showing large parts of agricultural and residential areas in NSW – like Moree and Gunnedah – are swamped with floodwater. A 28yo woman died after her car was swept away near Mudgee, prompting Premier Dominic Perrottet to urge people not to drive through floodwaters. Four others have died across NSW and Victoria in recent weeks. And after preparing to evacuate, Lismore locals can relax a little after avoiding yesterday‘s worst-case forecasts. In Victoria, the Murray River reached its peak at Echuca and Moama. Despite the levee protecting much of Echuca, some homes still went under – kudos to one resident/DJ who played from her flooded home’s balcony. There’s more wet weather on the way – Gippsland is one area on alert for heavy rains and rising rivers today.

Australian News Weather

Snapchat billionaires’ fortunes sink

The billionaire co-founders of Snapchat have lost 80% of their fortunes in the last 12 months after the social media company reported its slowest rate of quarterly sales growth ever. CEO Evan Spiegel – aka Mr Miranda Kerr – is now worth $2.3 billion… And while that’s not to be sneezed at, it’s a big drop on his $13.9 billion fortune this time last year. Co-founder Bobby Murphy also saw his wealth plunge to $1.9 billion this year. It’s all down to a drop in advertising dollars as tech companies fight over tight advertising budgets. Snapchat is one of several tech companies that have seen their share price plummet, and analysts are wondering how Facebook and Google are travelling. They release their financial updates this week.

Business & Finance World News

Did someone call for a doctor?

Four years after she broke the mould as the first female Doctor Who, Jodie Whittaker has left the tardis for the final time. But in a surprise twist in last night’s finale called Power of the Doctor, fan-favourite and 10th Doctor David Tennant regenerated from Whittaker and will reprise his role for a further 3 specials next month. The rare re-appearance of a Doctor marks the start of the show’s 60th-anniversary celebrations. Other ex-Doctors to feature were Peter Davison, Colin Baker, Sylvester McCoy and Paul McGann, and several companions, including 97-year-old William Russell. But it isn’t all a trip down space and time memory lane – Sex Education star Ncuti Gatwa will take up the coveted role as the 15th Doctor in 2023 with Broadway favourite Neil Patrick Harris also joining the new series. It seems some days really are special…


Apropos of Nothing

Speaking of extraterrestrial… NASA has named a group of 16 researchers to spend the next 9 months studying “unidentified aerial phenomena”, known to us Earthlings as UFOs. The team will track sightings and release a public report mid-next year. Talk about a Space Oddity

Ever dreamed of catching a helicopter to work in the mountains? New Zealand’s Department of Conservation has been struggling to get applicants for a role on the South Island’s remote coast and has launched a worldwide search. Time to dust off the hiking boots and polish the CV…

Butter boards are taking off in the US to the horror of nutritionists and anyone concerned about the spread of disease. The TikTok trend isn’t complicated – you smear butter on a board, maybe add some embellishments, whack sliced baguette next to it, and Bob’s your uncle. It’s like the germaphobia of the pandemic never happened…

Quirky News

Squiz the Day

9.00am (AEDT) – ANZ-Roy Morgan weekly consumer confidence index

9.30am (AEDT) – Federal Parliament resumes – both houses

7.30pm (AEDT) – Treasurer Jim Chalmers hands down an updated 2022-23 Federal Budget – Canberra

10.00pm (AEDT) – Men’s T20 World Cup Cricket – Australia v Sri Lanka – Perth

The trial of Simiona Tuteru, the manager of the trucking company whose vehicle was involved in the crash that killed 4 Victorian police officers in 2020, begins – Melbourne

ABS Data Release – Births, 2021; Language Statistics for Aboriginal and Torres Strait Islander Peoples, 2021

The 2022 Australasian Emissions Reduction Summit begins (until 26 October) – Sydney

International Artist Day 

World Pasta Day

National Greasy Foods Day – US

Birthdays for author Anne Tyler (1941), author Zadie Smith (1975) and singer Katy Perry (1984)

Anniversary of:
• the flight of the first Airbus A380 passenger flight – the world’s largest passenger airliner – operating for Singapore Airlines, flying between Singapore and Sydney (2007)
• a wedding anniversary for Ivanka Trump and Jared Kushner (2009)
• the release of Taylor Swift’s third studio album Speak Now (2010)
• the death of 4 people on a theme park ride at Dreamworld (2016)
• the birthdays of painter Pablo Picasso (1881) and singer Helen Reddy (1941)

Squiz the Day

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