Albanese Announces $2.4 Billion Steelworks Rescue as Election Speculation Grows

The Australian Prime Minister visits Whyalla to unveil a major funding package while political maneuvering intensifies ahead of a potential April election.

Prime Minister Anthony Albanese announced a $2.4 billion rescue package for Whyalla's steelworks, emphasizing its importance to South Australia's economy.
South Australian Premier Peter Malinauskas, a key ally, has not ruled out nationalizing the steelworks if private operators fail to step in.
The Reserve Bank of Australia cut interest rates for the first time since 2020, offering modest relief to mortgage holders but with limited impact on broader cost-of-living pressures.
Opposition Leader Peter Dutton distanced himself from Donald Trump, criticizing the former U.S. president's remarks on Ukraine and potential tariffs on Australia.
Billionaire Clive Palmer launched a new political party, the Trumpet of Patriots, echoing populist rhetoric and pledging significant campaign spending ahead of new election finance laws.