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“We have to ensure that we haven’t not only shut the gate, but locked it and bolted it and then welded it shut,” Senator Kovacic said the challenge with the serviceability test was that APRA was always much quicker to raise it than it was to reduce it.

ASIC reported 11,053 businesses failing in the first half of the 2024/2025 financial year alone – the highest six-month total on record. Construction accounts for more than a quarter of all business failures.

Australia is experiencing its lowest birthrate since 1935, a troubling trend highlighted by recent data from the Australian Bureau of Statistics. The total fertility rate has plummeted to just 1.5 births per woman, with NSW and Queensland seeing declines of some 6 per cent.