Liberal women are rallying behind the federal party’s first female leader, branding questions about her ascension as sexist after an official walked back her response to her longevity.

Sussan Ley won the leadership on Tuesday, narrowly beating former shadow treasurer Angus Taylor in a partyroom ballot. 

Her Liberal Party deputy is Ted O’Brien, the MP who spearheaded the nuclear energy policy the coalition took to their loss-making May 3 election.

However, Ms Ley was immediately warned she could face a “glass cliff” – a term referring to the appointment of women to top positions during times of crisis, meaning they can be set up to fail.

Charlotte Mortlock, who founded Hilma’s Network, which supports women in the Liberal Party, rejected the claims.

She noted there weren’t similar comparisons made when former opposition leader Peter Dutton became leader after Scott Morrison led the party to its worst defeat in decades at the 2022 federal election.

“We didn’t go pick Sussan Ley off the street to take the fall for the party,” she told AAP.

“She has been the deputy leader, she is second in line, it was a completely logical decision.

“She is an impressive and capable woman and to insinuate she has been given this job for any other reason is incredibly sexist.”

Ms Ley rejected the use of the term at her first press conference as leader on Tuesday.

The promotion of a woman into the top job showed the party was listening to the messages sent by women abandoning the party in droves.

“The number of women supporting us is declining and I want to rule the line under that,” Ms Ley said.

But asked on national television on Wednesday how long Ms Ley would last as leader, Liberal Party’s federal vice president Fiona Scott appeared hesitant.

“I don’t know, I mean a day’s a long time in politics,” she told Nine.

“Well, you know – it could be a day, it won’t be a day. I mean, cheeky, but look you don’t know what the political tides will bring.” 

Asked about Ms Scott’s statement, Labor frontbencher Penny Wong said “ouch”.

“That’s not the most ringing endorsement I’ve heard but … I’m going to leave it to the Liberal party to sort this out,” she added.

Later on Sky News, Ms Scott clarified she was joking and that Ms Ley was a fantastic choice.

“I did go on to clarify that I absolutely support Sussan, I think it’s a wonderful step forward,” she said.

Gender equality expert Michelle Ryan said that with more than two decades of parliamentary experience under her belt, Ms Ley was “incredibly qualified” for the job.

“But the timing definitely suggests that it’s somewhat of a glass cliff,” the ANU professor, who coined the term with her research partner Alex Haslan in 2005, said.

“The fact that they’ve come out of an unprecedented loss at an election, and this is the first time a woman is leading – I don’t think those two things are unconnected.

The pool of Liberal leadership candidates was relatively small given the scale of the election defeat, and potential leaders such as Dan Tehan and Andrew Hastie were quick to rule themselves out.

“It’s also interesting that people that might have put themselves forward in a better time are not putting themselves forward now,” Prof Ryan said.

“Whoever was going to take on this leadership position was unlikely to be prime minister.”

Ms Ley’s election was also an effort to show women voters it had changed, Prof Ryan added.

“The glass cliff makes it harder to succeed, but that doesn’t mean success is not possible,” she said.

Mr O’Brien also rejected any suggestion that the leadership duo were some sort of placeholders, saying the Liberal team had united around them and would strengthen over time.

Wages rose by a higher-than-expected 3.4 per cent over the year to March, arresting a slide in the rate of growth.

The latest Australian Bureau of Statistics figures show wages lifting 0.9 per cent in the three months to March, from a 0.7 per cent rise in the previous quarter.

Workers saw their wages grow one per cent in real terms over the year, with inflation coming in at 2.4 per cent over the same period.

It marks the sixth consecutive quarter of real annual wages growth.

Analysts had predicted a 3.2 per cent rise in wages over the 12 months to March.

Public sector wages grew at a faster rate than the private sector, rising 3.6 per cent annually, up from 2.9 per cent in December.

Private sector wages growth was unchanged at 3.3 per cent.

The wage price index was boosted by pay rises flowing through to childcare and aged care workers, said ABS head of prices statistics Michelle Marquardt.

“Wages growth in the public sector was impacted by new state-based enterprise agreements, and to a lesser degree, increases paid to aged care workers,” she said on Wednesday.

“Jobs covered by enterprise agreements contributed to over half of all quarterly growth, for the first time since September 2020.”

The acceleration in wages growth is in line with the predictions of the Reserve Bank.

In its February Statement on Monetary Policy, the RBA predicted wages growth to accelerate to 3.4 per cent over the year to June.

Markets were fully pricing in the central bank to cut rates by 25 basis points at its next meeting on Tuesday.

Wednesday’s labour force release will be closely watched by the RBA board, given governor Michele Bullock has expressed concern that tightness in the jobs market could stop inflation falling as quickly as she’d like.

One of Australia’s biggest financial providers is in court again after allegedly failing to report up to 1.5 billion short sales, putting at risk the nation’s financial stability.

Corporate watchdog ASIC alleges Macquarie Securities – Macquarie Group’s cash brokering division – failed to correctly report at least 73 million short sales between December 2009 and February 2024.

ASIC estimates the true figure is likely to be between 298 million and 1.5 billion short sales, but the inadequacy of the brokering division’s reporting systems makes it impossible to narrow down beyond such a large range.

Short sales refer to selling stock or other securities that an entity does not currently own in the hope of buying at a lower price later on – essentially a bet that the product will decline in value.

The method was used by traders to bet against the financial instruments that were causing the housing bubble that sparked the 2008 global financial crisis, as popularised in the Hollywood film The Big Short.

Reports of short selling can be used by regulators to identify potential market risks before they occur. 

It assists in detecting market misconduct and supports market integrity, ASIC chair Joe Longo said.

“This action is timely given significant recent global market volatility. Accurate and reliable data underpins the integrity of, and confidence in, Australia’s financial markets,” Mr Longo said on Wednesday. 

“Investors expect reliable information to analyse market movements and inform their investment decisions.”

The legal action in the NSW Supreme Court marks the fourth time ASIC has taken regulatory action against Macquarie Group in just over 12 months.

Earlier in May, ASIC imposed licence conditions on Macquarie Bank for misreporting hundreds of thousands of over-the-counter derivatives trades as well as failing to prevent and detect suspicious trading activity in its futures dealing business.

ASIC is seeking penalties from Macquarie Securities (MSAL) as well as an independent review of its reporting systems to ensure they comply with the law.

Macquarie said the group’s brokering division first identified issues with its reporting of short sales and self-reported this to ASIC in late 2022.

“The reporting issues identified in the proceedings have been remediated with additional controls implemented,” Macquarie said in a statement.

“MSAL is now reviewing ASIC’s claim.

“Macquarie takes its compliance obligations very seriously and continues to invest in programs to further improve systems and controls across the Group.”

A parent group with more than 20,000 members will challenge one of Australia’s largest energy companies in court over claims it misled customers about emissions from its products. 

Representatives from EnergyAustralia will appear in the NSW Federal Court on Wednesday to defend the lawsuit filed by Parents for Climate in August 2023. 

The group claims the company misled more than 400,000 customers using its Go Neutral products, which EnergyAustralia allegedly marketed as “carbon neutral” due to the purchase of offsets, and claimed consumers would have a “positive impact on the environment” by purchasing them. 

But Parents for Climate will argue EnergyAustralia’s claims were misleading and deceptive, chief executive Nic Seton said, in a lawsuit that will become the first greenwashing case launched against an energy firm in Australia.

“It’s one of the most ambitious things that our organisation has ever done,” he told AAP.

“It’s an Australian first in that no other product has been tested on these grounds of making carbon-neutral claims based on offsets.”

The charity, represented by Equity Generation Lawyers, will seek a declaration that EnergyAustralia misled customers about greenhouse gas emissions, a corrective statement to customers, and restrictions on its future marketing.

Australia’s rules about environmental claims, including guidance issued by the Australian Competition and Consumer Commission, were not strong enough to prevent greenwashing, Mr Seton said, and the group hoped the lawsuit would encourage reforms.

“If we’re successful, this could not just change the behaviour of this particular company but send a really clear signal to all companies in Australia who market their products with these sorts of climate claims,” he said. 

 “Our own analysis of energy companies here in Australia is that this practice is quite common and does need to change.”

EnergyAustralia withdrew its Go Neutral products for new customers in November but a spokesperson for the company said it was committed to offering customers clean energy solutions. 

“We have been working closely with Parents for Climate over the last number of months,” the spokesperson said. 

“We remain optimistic we can resolve this issue together.”

EnergyAustralia ranked as Australia’s third-highest emitter in 2023-2024, according to statistics from the Clean Energy Regulator, and produced 16.5 million tonnes of carbon emissions. 

The company is one of Australia’s largest energy retailers, with 1.6 million customers, and operates two coal-fired and four gas-fired power plants across NSW, Victoria and South Australia. 

Earlier this year, EnergyAustralia recommitted to closing its Yallourn coal-fired power station in Victoria by 2028 as part of its 2050 net-zero target. 

Sussan Ley could be doomed to fail as she takes on the Liberal leadership at one of the party’s lowest points.

After a close contest against shadow treasurer Angus Taylor, Ms Ley won the top job to become the first female Liberal leader in the party’s history.

While the milestone has been celebrated, her victory follows a brutal election loss that decimated the coalition’s ranks, and some warn Ms Ley could be the next victim of the “glass cliff”.

Coined by Australian National University gender equality expert Michelle Ryan and her research partner Alex Haslan in 2005, the term refers to a phenomenon where women, and those from minority groups, are more likely to be appointed to top positions during times of crisis, meaning they can be set up to fail.

With more than two decades of parliamentary experience under her belt, Ms Ley was “incredibly qualified” for the job, Professor Ryan said.

“But the timing definitely suggests that it’s somewhat of a glass cliff,” she told AAP.

“The fact that they’ve come out of an unprecedented loss at an election, and this is the first time a woman is leading – I don’t think those two things are unconnected.

“It’s also interesting that people that might have put themselves forward in better time are not putting themselves forward now.”

The pool of candidates was relatively small to begin with given the scale of the election defeat, but potential leaders such as Dan Tehan and Andrew Hastie were quick to rule themselves out of contention.

“The Liberal Party is under great scrutiny – there’s a lot of agitation,” Prof Ryan said.

“Whoever was going to take on this leadership position was unlikely to be prime minister.”

Conservative political parties across the world, such as the UK Tories, have been accused of placing women in glass cliff positions.

Theresa May became prime minister when her predecessor resigned in the aftermath of the UK’s decision to leave the European Union, and stepped down two years later after fierce criticism over her failure to deliver a Brexit deal.

“She’d done all the hard work of the negotiations with the EU, and then we had Boris Johnson take over,” said Prof Ryan, who lived in the UK during the period.

Asked about the glass cliff trend, Ms Ley did not accept it and said her appointment and agenda was about connecting and listening to women.

Prof Ryan also acknowledged this, noting Ms Ley’s election was not just a leadership issue, but part of the party’s efforts address its bleeding female support.

“The glass cliff makes it harder to succeed, but that doesn’t mean success is not possible,” she said.

Global tensions and Indonesia’s developing relationship with China and Russia will likely be on the agenda when Anthony Albanese makes his first overseas trip of his second term.

The prime minister will travel to Jakarta on Wednesday, where he will meet with Indonesian President Prabowo Subianto.

Mr Prabowo released a video of his conversation with Mr Albanese after his thumping election win, saying he was “so happy” to see him win another term.

The prime minister told the Indonesian president he wanted Jakarta to be his first visit, not Washington or Beijing.

The first state visit to Indonesia continued a legacy set up by the Howard government, which was symbolic in projecting Australia’s identity as being close to Asia, Australian Strategic Policy Institute senior analyst Gatra Priyandita said.

“Albanese is interested in maintaining that image of Australia as being independent of the United States and close to the region,” he told AAP.

“There is great interest in Indonesia’s developing relationship with both Russia and China, with Indonesia establishing some of its first naval exercises with Russia recently, so it will probably be under discussion.”

Reports in April that Moscow was seeking permission from Jakarta for Russian Aerospace Forces aircraft to be based in Indonesia alarmed Canberra.

Indonesian authorities reassured their Australian counterparts that would not be the case, but didn’t confirm if the request had been made.

The prime minister went back on a pledge to attend Mr Prabowo’s inauguration in October 2024, because of a visit to Australia by King Charles.

Dr Gatra said his concern was that the visit would be purely symbolic.

“I haven’t heard much in the context of practical deliverables,” he said.

“It’s very important for Australia and Indonesia to think about strategic co-operation … especially since both Albanese and Prabowo will likely be counterparts for quite some time.”

Concerns about what the increasing presence of the US military in the region means for overall strategic competition might also come up in discussions, Dr Gatra said.

Australia and Indonesia signed a defence co-operation agreement last August.

In a letter to Mr Albanese, Human Rights Watch urged Australia to make the ongoing crisis in Myanmar a focus of its discussions with Mr Prabowo.

It says the two leaders should work together to strengthen multilateral efforts including the use of targeted sanctions to pressure the junta to end violations of human rights.

The human rights organisation also called on Australia to promote equitable responsibility sharing for the resettlement of Rohingya refugees.

The federal Liberals’ first female leader has pledged unity as she works to rebuild the party after a blistering electoral defeat.

Sussan Ley, the former Liberal deputy under Peter Dutton, defeated former shadow treasurer Angus Taylor 29 votes to 25 in a party room ballot of 54 members on Tuesday in Canberra.

Hinting at where the party would focus after losing ground at the election, Ms Ley used her first address as leader to reflect on her past as a migrant, businesswoman and regional representative.

“I’m positive about what lies ahead,” she told reporters following her election.

Coalition MPs have urged more free-flowing discussion to reach policy decisions, arguing a premium on unity under Mr Dutton stifled debate.

“I committed to my colleagues that there would be no captain’s calls from anywhere by me,” Ms Ley said.

The writing appeared to be on the wall for Mr Taylor when he tried to enter the party room through a locked door before having to detour before the vote by MPs and senators.

Mr Taylor congratulated Ms Ley, saying her leadership was a milestone as he joined a chorus of Liberal MPs calling for unity during the party’s rebuild.

“Together we will work to earn back the trust of Australians,” he said.

The party was already making changes by electing its first female leader, which was “a very important signal to the Australian community that we are listening”, western Sydney MP Melissa McIntosh told AAP.

“We need to take a serious look … we did get obliterated at this election.”

The Liberals needed to support women in the party, she added, after she was challenged for pre-selection and almost lost her seat. 

“We need to do some serious work from a structural perspective on the Liberal Party itself, so that women candidates, women MPs, feel supported,” she said.

Ms Ley agreed, adding “the number of women supporting us is declining and I want to rule the line under that”.

The Liberal leadership needs to contend with the Nationals as they work out the finer details of a new coalition agreement.

A climate policy clash after Nationals leader David Littleproud flagged a review of the party’s commitment to a net-zero emissions target risks opening up a schism within the coalition.

Liberal moderates are angry the coalition did not do enough on the issue and caused it to bleed voters in metropolitan seats.

Ms Ley did not expressly back the net-zero target but acknowledged emissions needed to come down.

“But there are different views about how we appropriately reduce emissions,” she said.

The defeat was humbling but the coalition would have a strong policy offering at the next election, Ms Ley said.

The coalition holds 42 of 150 lower house seats – less than half of Labor’s 93 – giving the opposition a Herculean task.

Of the three seats yet to be called, the Liberals are ahead in two and Labor one.

Ted O’Brien was elected deputy leader despite fanfare about Senator Jacinta Nampijinpa Price running as Mr Taylor’s second-in-command after jumping to the Liberal party room from the Nationals.

The deputy ballot came down to Queenslanders Phil Thompson and Mr O’Brien after Senator Price pulled out.

The former energy spokesman, who spearheaded the coalition’s energy policy, won 38 votes to 16.

Senator Price said she decided not to contest the deputy ballot after Mr Taylor lost his leadership bout.

Her defection from the National Party to run as deputy angered former colleagues and some moderate Liberals who disagreed that her style of politics would be a vote winner in the inner cities.

Labor politicians have swapped factional fisticuffs for fashion and family fun as their ministry was sworn in.

Smiles were abundant following a big election victory as new and old members of the Labor ministry gathered at Government House in Canberra on Tuesday.

Accompanied by his son Nathan and fiancee Jodie Haydon, Prime Minister Anthony Albanese was sworn in by Governor-General Sam Mostyn.

“I, Anthony Norman Albanese, do solemnly and sincerely affirm and declare that I will well and truly serve the Commonwealth of Australia, her land and the people in the office of Prime Minister,” he said.

Matching Ms Haydon’s bright red suit, Foreign Minister Penny Wong arrived with her family in a red suit and heels.

Cradling his toddler in one arm with a giraffe backpack in the other, Health Minister Mark Butler was all smiles as he strode into the governor-general’s house alongside his partner.

Housing Minister Clare O’Neil also brought her daughter, who kept on theme by tying her pigtails with bright red clips.

Patrick Gorman’s daughter sparkled in a glittery tuile dress, though she hid behind her father when the cameras showed up.

So many children were brought to the ceremony that Government House officials set up a break room to offer the kids and their parents some space.

A group of young adults also accompanied their parents including Defence Minister Richard Marles’s son Sam, an MMA fighter who – like his father – triumphed during an election night tussle.

After being dumped by Mr Albanese from the environment portfolio, newly-minted Social Services Minister Tanya Plibersek was followed by her towering son who showed off a trendy, shaggy hairdo.

Home Affairs Minister Tony Burke could be in the running for the biggest Bible of the day after he was sworn in on a large tome, brought to Australia by his great-grandfather in the aftermath of the Irish famine.

Most ministerial positions in the Albanese government’s second term were largely unchanged, although Mark Dreyfus and Ed Husic were dumped from the front bench after manoeuvring by Labor’s right faction. 

That left a sour taste in some MPs mouths after Mr Husic accused Mr Marles of acting as a “factional assassin”.

Treasurer Jim Chalmers said the limited number of cabinet positions meant “very good people” can get left out.

“It was messy and nobody would want that to happen, particularly to two people who are respected in our team,” he told Nine’s Today show on Tuesday.

Consumer confidence is improving, but Australians have been urged to temper their expectations after the treasurer noted the limits of a US-China trade truce.

Both nations have agreed to a 90-day tariff reduction, with the United States committing to dropping 145 per cent levies on China to 30 per cent and Beijing lowering its 125 per cent duties on American imports to 10 per cent.

Treasurer Jim Chalmers welcomed the development but noted many issues remained unresolved.

“Australia has got a lot to lose from a trade war between the US and China in particular, so we want to see these trade tensions de-escalated permanently, not temporarily,” he told ABC Radio on Tuesday.

“There’s a lot of uncertainty, unpredictability, and volatility in the global economy.”

However, consumer sentiment rebounded in May as markets recovered from the US ‘Liberation Day’ tariff announcement in April, according to the Westpac-Melbourne Institute index published on Tuesday.

“Consumer sentiment has recovered just over a third of last month’s tariff-related fall, buoyed by a rebound in financial markets and a clear-cut federal election result,” Westpac chief economist Matthew Hassan said.

The index rose 2.2 per cent in May to 92.1 points, from 90.1 in April.

“That said, the index is still 3.9 per cent below its March level and in ‘firmly pessimistic’ territory overall,” Mr Hassan said.

Treasury Secretary Steven Kennedy briefed Dr Chalmers on May 4 – the morning after Labor’s election victory – telling him that the global economy had deteriorated since President Donald Trump began his punitive tariffs regime on US trading partners in March.

He told the treasurer that while Australia had fairly strong economic fundamentals, it would not be immune from the trade conflict.

Australia was well-placed and well-prepared to deal with the fallout, Dr Chalmers said, but he acknowledged “we do have a lot of skin in the game”.

“We welcome the announcement … but we’re not getting carried away,” he said.

The US has imposed a 10 per cent baseline tariff on many Australian imported goods, as well as a 25 per cent tariff on steel and aluminium.

While the treasurer has not had contact with US Treasury Secretary Scott Bessent since the election, Dr Chalmers said there would be opportunities to engage with his counterpart.

Dr Chalmers also said Australia was entering “a period of global dislocation not seen since World War II”.

“Our people are still under pressure and the headwinds in the global economy are picking up at a rate of knots,” he said.

Wages and labour force data to be released this week might guide the Reserve Bank of Australia’s next interest rate decision on May 20.

Economists widely predict the RBA will shave another 0.25 per cent off the cash rate after announcing its first cut in more than four years in February.

Data released on April 30 revealed Australia’s headline inflation was at 2.4 per cent in the year to March, down from as high as 7.8 per cent in December 2022.

Dr Chalmers has often referred to Australia’s “soft landing” from those heights, pointing to the increased real wages and low unemployment achieved simultaneously to lowering inflation.

“This is an enviable position for our economy to be in – unique when we look around the world and compare ourselves to history, and defying the economic orthodoxy,” he said.

“We know the job isn’t finished and we know we will be faced with more global economic volatility and unpredictability over the next three years, not less.”

Sussan Ley’s elevation as the first female leader of the federal Liberal Party has been hailed as a new beginning for an opposition facing years in the wilderness.

The former Liberal deputy under Peter Dutton defeated former shadow treasurer Angus Taylor 29 votes to 25 in a partyroom ballot of 54 members on Tuesday in Canberra.

The writing appeared to be on the wall for Mr Taylor when he tried to enter the party room through a locked door before having to detour ahead of the vote by MPs and senators.

Outgoing West Australian Liberal senator Linda Reynolds told reporters as she left the meeting that the party had gotten the message from voters and acted.

“Australians spoke clearly and we listened,” Senator Reynolds said, acknowledging that the party had lost the support of many female voters at the May 3 election. 

West Australian Senator Dean Smith said Ms Ley’s leadership was a “new beginning” while Queensland MP Andrew Wallace said the party had to demonstrate it was listening and learning.

“One thing the Australian people will not cop is a disunified opposition, and we need to now unite and rebuild,” he told reporters after the vote.

“Sussan is a woman with 24 years’ experience in this place and … nothing beats experience in this place, you know where all the bodies are buried, you know the tactics.”

The Liberal leadership will need to contend with the Nationals as they work out the finer details of a new coalition agreement, especially after Nationals leader David Littleproud flagged that party’s commitment to a net-zero emissions target was up for review.

The climate policy clash risks opening up a schism within the coalition, with moderates angry that the party didn’t do enough on the issue and caused it to bleed voters in metropolitan seats.

The coalition holds 42 of 150 lower house seats, less than half of Labor’s 93, which has all but confirmed they’ll face at least three terms in opposition after losing power in 2022.

Of three seats yet to be called, the Liberals are ahead in two and Labor one, meaning there’s a chance of a slight improvement in the tally, but the coalition faces a Herculean task to win government in three years regardless.

Ted O’Brien has been elected deputy leader despite fanfare about Senator Jacinta Nampijinpa Price running as Mr Taylor’s second-in-command after jumping to the Liberal party room from the Nationals.

The deputy ballot came down to Queenslanders Phil Thompson and Mr O’Brien, after Senator Price pulled out.

The former energy spokesman, who spearheaded the coalition’s energy policy, won 38 votes to 16.

Senator Price arrived at her first Liberal partyroom meeting flanked by conservative senators Michaelia Cash, Jonno Duniam and Claire Chandler.

Her defection from the National Party to run as deputy angered former colleagues and some moderate Liberals who disagreed that her style of politics would be a vote winner in the inner cities.

There is no reason to assume whoever takes the job won’t last until the next election, and the absence of a deep bench could bode well for them, Australian National University politics lecturer Jill Sheppard said.

But leading the coalition when it holds less than half as many seats as Labor is a tough ask, and there is a reason other contenders such as Dan Tehan and Andrew Hastie were quick to rule themselves out.

“It does feel like a bit of a poisoned chalice,” Dr Sheppard told AAP.