Australia news live: renting blow as vacancy rates shrink again; Conroy says Australia will be making missiles in two years’ time

Vacancy rates fell again in July to 1.43% average across Australia, which could further push up rents. Follow the day’s news live

The treasurer, Jim Chalmers, has responded to the shadow finance minister Jane Hume’s push for the government to reign in spending on ABC Radio this morning. He said “of course” there has to be more heavy lifting:

The substantive point that I’m making is that we’ve already shown it.

Finding $40bn of savings … more than in the last coalition budget … we are serious about that, we are reining in spending where we can, we are reprioritising spending, we’re showing spending restraint.

Long-range strike and other guided weapons are fundamental to the ADF’s ability to hold an adversary at risk in Australia’s northern approaches. With $4.1bn over the forward estimates, there is real money and certainty for business to invest.

We will be making missiles in two years’ time. That’s an incredibly ambitious goal, but we are confident we can get there.

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from World news | The Guardian https://ift.tt/7Lzv04q