With the potential threat of a British exit from the EU, Julie Bishop has maintained that Australia’s economy is strong enough to withstand the fallout.
The referendum taking place in the UK has the potential to upset the economy and as each vote tally comes through, the pound appears to be dropping. Bishop, however, is unfazed by the possibilities of a Brexit, believing Australia would have appropriate time to decide on a response.
“If Britain decides to leave it will take quite some time for the conditions of the exit to be negotiated I would imagine,” she told the Nine network.
Finance Minister Mathias Cormann also believes Australia’s economy will be able to withstand the possible fallout. “Our policy settings put us in the strongest possible position to be as resilient as possible”.
Australia will still maintain its close ties to Britain and the EU regardless of the decision.
Paul Keating criticises Coalitions company tax cuts
In a letter to the Australian Financial Review, Paul Keating slammed the Coalition for their proposed $50 billion company tax cuts. The remarks came as the Coalition justified the cuts by comparing them to Mr Keating’s Labor government’s measures in the 80s and 90s. Mr Keating claimed the tax cuts were paid for by “a massive broadening to the base of the tax system.”
“Tax cuts are desirable as long as they are affordable. But I would never have countenanced a $50 billion impost on the budget balance with a discretionary unfunded tax cut,” Mr Keating said.
Five year old boy hospitalised after dog attack on the Central Coast
A boy was taken to Gosford hospital with injuries to his face after his family dog attacked him. The dog, a Rhodesian Ridgeback, has since been secured and police are now liasing with the local council on their response. The boy has since been taken to Westmead children’s hospital and is in a stable condition.
New study finds protein released during exercise boosts memory
The study published in Cell Metabolism found that exercise releases a protein called Cathepsin B which improves nerve growth in the area of the brain associated with memory. Professor Emrah Duzel said that “movement is an important trigger for memory processes… whenever we change our location our brain expects new information, so there is a hard-wired relationship between bodily movement and cognition”. Cathepsin B is not only a factor in improving memory, however, it can also be found in tumours. It is thought that different levels of the protein can cause a wide variety of effects. The study has potential to help people with illnesses such as dementia. – Matthew Buchanan
Screenshot from ABC News 24.