Taxpayer-funded pay rises for childcare workers could continue for another three years as an extension of the measure returns to parliament for debate.

A government-supported wage rise was introduced in 2024 and applied to 200,000 early educators, but the measure is due to run out in November.

A Fair Work Commission-ordered wage rise for workers in female-dominated industries had been due to kick in, forcing the private sector to pay higher staff salaries.

But the implementation was delayed over concerns childcare providers would be unable to deliver the pay rise without significantly hiking fees.

Instead, the government will move to continue funding the subsidy until late 2029.

Coalition members have concerns about the temporary nature of the multibillion-dollar scheme and its potential effect on the cost of childcare once it lapses.

Children will be the focus of critical debate throughout the sitting fortnight as Communications Minister Anika Wells encourages parliament to vote for amendments to strengthen Labor’s existing under-16s social media ban.

Draft laws to make social media companies provide an opt-out for algorithm-driven feeds are also expected to be unveiled in the coming week.

Part of broader “digital duty of care” reforms, the legislation is expected to come under fire as the coalition complains of impingement on freedom of speech and the Greens label proposed $100 million maximum fines a slap on the wrist.

Meanwhile, the Liberals will promote their newly-announced plan to criminalise flag-burning, a policy that apes a measure previously put forward by One Nation.

Opposition Leader Angus Taylor said on Sunday the plan was about defending Australia, denying it had been concocted to ward off the coalition’s right-wing rivals.

He also touted his party’s proposed 80 per cent cut to tobacco excise to discourage illegal imports, a measure he denied would lead to higher smoking rates.

Labor is expected to push the coalition to release its Parliamentary Budget Office modelling of the policy.

It is also expected to spend Question Time pushing the opposition for details of possible plans to allow first home buyers to access their superannuation to fund deposits.

The coalition took similar “super for housing” policies to the 2022 and 2025 elections, both of which it lost to Labor, and Mr Taylor said he had an “open mind” to pursuing the scheme again.

Treasurer Jim Chalmers said the opposition leader’s comments showed universal superannuation was not safe under the coalition or One Nation.

“They will decimate super and destroy the economic security and retirement incomes of Australian workers,” he said.

Australia’s peak property season has opened with a whimper, featuring low stock and lacklustre auction success rates.

Capital cities hosted just 1462 auctions in the first week of spring – more than 30 per cent down on the figure for a year earlier.

The combined preliminary clearance rate hit 52.7 per cent, just 0.4 points above the winter average, according to data from Cotality.

But research director Tim Lawless said he expected activity to build during September.

“Auction activity is set to ramp up over the coming weeks, rising to around 1640 next week and 1900 the week after,” he said.

There were some green shoots in the market as Sydney’s preliminary auction clearance rate hit 57.7 per cent, an 18-week high, while Melbourne recorded a preliminary rate of 58.2 per cent.

Clearance rates are seen as a strong leading indicator for property prices, which have been falling since a national market peak in March.

An auction success rate of below 60 per cent typically points to lower home prices.

Clearance rates were lower in the smaller capitals, with Brisbane recording successful sales in just 24.8 per cent of auctions – its second-weakest result of the year.

The subdued start to spring comes after a series of interest rate rises and mid-year tax changes that targeted property investors.

The government in June passed sweeping changes to capital gains taxes, while also rolling back negative gearing incentives for existing properties.

Opposition Leader Angus Taylor on Sunday confirmed he was fully committed to repealing the changes.

“The message we want to send is that we will re-establish confidence in the housing market in this country,” he told News24.

Mr Taylor added he was open to maintaining a Morrison-era promise to allow Australians to access their superannuation to fund first home deposits.

“But the important point I would make at this point is that we need to cap immigration based on housing supply, get more houses built, slash the red tape in the construction industry,” he said.

Falling house prices have become a key topic of political debate after Labor modelling showed its tax changes would only have a modest effect on the market.

Many leading economists are forecasting another interest rate hike from the Reserve Bank before the end of 2026, which could trigger further price falls.

National prices are down 3.6 per cent since March, according to Cotality, while in Sydney home prices are 7.1 per cent below their peak.

Labor has pointed to Treasury modelling that showed prices would continue to rise over the coming years.

The Urban Development Institute of Australia has called for supply side measures to improve housing affordability after an analysis showed falling prices had done little to make home ownership more achievable.

National president Oscar Stanley said it needed to be “faster, simpler and more financially viable to actually build the homes Australians need”.

Social media companies would have to give Australians a clear choice to opt out of algorithms under draft laws expected to be announced within weeks.

An exposure draft of a much-anticipated “digital duty of care” is expected to be released in the coming sitting fortnight as Labor steps up efforts to tackle online harm.

It would put the onus on social media companies to mitigate risk on their platforms, including actively removing illegal or harmful content.

Opt-out options for algorithms would be made mandatory, giving users the choice to take their social media feeds back to the friends-only content they once were.

Several areas are expected to be identified as off-limits to minors due to the potential for psychological harm, including content that promoted harmful body images.

Companies could face fines of up to $100 million if the laws were breached. 

The changes would prevent boys from being bombarded with violent and misogynistic material, Labor’s Matt Thistlethwaite told News24’s Sunday Agenda program.

“Many Australian parents have said that they’re concerned about their children being exposed to this material,” he said. 

“We think that the platforms have a responsibility to try and keep young Australian kids safe.”

But the measure would fall short of the opt-in model put forward by some campaigners.

Consent activist Chanel Contos recently said an algorithm opt-out was a good first step, but the measure did not go far enough to stop boys and young men being exposed to harmful content.

Instead, her organisation’s Fix Our Feeds campaign calls for linear social media feeds that would only transition to algorithm-based models if users chose them.

“It would fundamentally make the transition onto social media for 16-year-olds and other children safer, and it would bring the principle of affirmative consent to our screens,” she told the National Press Club.

Opposition Leader Angus Taylor said parents should have more control over what their children could see on social media.

But he was unconvinced by the latest plans from Labor, which he accused of butchering its under-16s social media ban.

More than 80 per cent of 12-to-17-year-olds were still using socials following the December 2025 crackdown, previous University of Newcastle research showed. 

“The government should be focused on that because it’s not working,” Mr Taylor said.

“So then going off and starting on some other thing … I think there’s good reason to be sceptical about that,” he said.

Consumer sentiment and key public engagements by senior Reserve Bank of Australia officials will be closely watched by the nation’s economists.

RBA assistant governor Sarah Hunter will speak at The Australian Financial Review’s Property Summit in Sydney on Tuesday, while deputy governor Andrew Hauser appears on ABC’s 7.30 later that evening.

Westpac also releases its consumer sentiment report this week and while not considered a hard measure, it will look at whether spending has held up or increased.

The NAB Business Survey will also drop, while the ANZ-Indeed Job Ads is set to be released on Monday.

NAB head of Australian economics Gareth Spence said he didn’t believe the central bank’s leadership would give away too much more than what they’ve already indicated.

“There’s obviously inflation pressures, then you know front of mind for the RBA is the inflation challenge, but if that’s because of volumes or actual sales, it also tells us maybe the economy isn’t slowing as much as they thought,” he said.

The US-led war on Iran, launched in February, is continuing to drag on and has caused global oil prices to skyrocket after the effective closure of one of the world’s most important oil corridors.

About one fifth of the world’s oil transits through the Strait of Hormuz.

People keen to avoid high fuel prices have rushed to purchase electric vehicles, with sales found to have stoked consumption growth in the economy in the three months to June 30.

Mr Spence said economists were monitoring the impact of this uncertainty.

“The challenge we have very much over the next few months is going to be how do consumers and businesses kind of behave given the ongoing issues in the Middle East, the uncertainty, and kind of the cost pressures for both households and business that we’re seeing,” he said.

The Reserve Bank kept the cash rate on hold at 4.35 per cent at its last board meeting in mid-August, with the next meeting and interest rate decision to come at the end of September.

Australian shares ended the week lower, with the S&P/ASX200 index easing 0.16 per cent on Friday to finish at 9,005.9, shedding almost one per cent since Monday. The broader All Ordinaries lost 2.3 points on Friday, or 0.03 per cent, to end the trading week at 9,196.

Wall Street’s main indexes fell on Friday ahead of a shorter trading week for the Labor Day long weekend, but ended the week’s trade mostly even.

When it comes to the golden years of life, many Australians are eyeing a gilt-edged lifestyle.

That’s the finding of a survey in which about a third of respondents said they hoped to sail into the sunset with more than $1.25 million in superannuation. 

About the same proportion of the 2500 people surveyed wanted between $750,000 and $1.25 million, and the rest aimed for up to $750,000.

“Australians have high expectations for a glorious retirement,” said Renee Howie, chief customer officer at retail superannuation giant MLC, which commissioned the survey.

“What surprised us was how many people are aiming well beyond traditional retirement benchmarks.”

The findings come as MLC released new modelling on Sunday to help savers understand if they’re on track to meet their retirement goals.

The figures show a 40-year-old should have $174,400 in their super account if they want to retire at age 67 with $750,000, and $288,800 if they plan to retire with $1.25 million.

Someone with $750,000 in super at retirement should have modest expectations.

They would likely be able to afford regular leisure activities such as lawn bowls, golf, bridge club and the occasional meal out locally every few weeks, as well as an annual domestic holiday and a few overseas trips during their retirement.

A “luxe retirement” – on a super balance of between $750,001 and $1.25 million – might add on weekly meals out, more international travel and more financial freedom.

But those who retire with a super balance of more than $1.25 million could expect a “champagne retirement”.

“Think champagne, clinking glasses, plenty of time overseas or travelling across Australia, the ultimate financial freedom,” Ms Howie said.

Australians who look at these figures and feel they are missing the mark should know there are many ways to get back on track.

The easy, actionable measures super members could take include knowing their balance and making sure it was invested appropriately for their age, MLC head of technical services Jenneke Mills told AAP.

Many financial planners say younger super members should be in high-growth or growth funds, rather than the one-size-fits-all “balanced” MySuper offerings used by roughly half of all super providers.

For those who can afford it, making extra contributions via salary sacrifice can add up to a big boost at retirement.

“The intention of this isn’t to set a target; it’s giving context to an abstract concept,” Ms Mills said.

The US and Iran’s cat-and-mouse game with maritime mines in the Strait of Hormuz has cast a spotlight on Australia’s underinvestment in equipment to protect key shipping lanes and ports from sea-floor munitions.

All but one per cent of Australia’s international trade undertakes sea journeys, with the nation’s ports handling 1.6 billion tonnes of cargo a year, according to the Australian Maritime Safety Authority.

But in recent years, Australia’s capacity to protect ships from explosive devices hidden in the water has weakened.

In 2024, the Albanese government shelved Project SEA1905, a tender to modernise Australia’s mine countermeasure capabilities, to save money. 

The decision left the navy with only two ageing Huon-class minehunters in service from an original fleet of six. The two remaining are likely to be decommissioned in the short term, with no plans announced to replace them.

“Mine warfare is one of the areas which has seen cuts in order to transfer money to other higher priority and sexier projects,” senior lecturer in maritime strategy at UNSW Canberra Richard Dunley says, referring to the AUKUS nuclear-powered submarines and frigate shipbuilding projects.

The decision to skimp on countermine measures could be a future own goal for Australia, potentially leading to major supply chain disruptions in the event of conflict, according to defence analysts.

There was a taste of that scenario earlier in 2026 when petrol stations ran dry, airlines grappled with jet fuel shortages and farmers struggled to secure fertiliser as shipping disruptions worsened in the Strait of Hormuz amid war between Iran and the US.

US Central Command in August said the nation’s military forces had reached a “major milestone” in clearing the strait’s international shipping lanes of sea mines laid months earlier by Iran.

Yet mine-clearing experts say an area can never be definitely declared as mine-free, but risk can be reduced.

“I think Australia is grossly underprepared when it comes to the ability to detect and destroy mines,” says Jennifer Parker, a maritime strategy expert affiliated with multiple Australian universities, who served in the Royal Australian Navy for 20 years.

“If you don’t have a mine clearance capability, then your submarines, your ships can easily be neutralised,” Ms Parker says.

Ms Parker notes the Tanker War between Iran and Iraq in the 1980s, where Tehran was laying mines in the Strait of Hormuz, was a wake-up call for Australia that led to the purchase of the six minehunters. 

The current crisis should spur a similar jolt, she says.

Future regional conflicts “almost certainly” would see Australian ports, choke points and key shipping routes targeted with mines, Ms Parker says, noting Germany and Japan laid mines in Australian waters during both world wars.

China and Russia have vast stockpiles of mines. Beijing has up to 100,000 and Moscow an estimated 125,000, according to the US Naval Institute. 

Defence experts predict China could blockade Taiwan with mine-laying operations in the event of a conflict.

Australia finds itself in a “capability valley” when it comes to mine countermeasures, Macquarie University associate professor in strategic studies Adam Lockyer says.

“Alarmists will likely say that ‘time is up’ and that war with China could erupt any day now. Eternal optimists might say that war is still a remote possibility and even then, decades into the future,” he tells AAP. 

“The truth is probably in between these positions,” he says, while acknowledging the region has far more to gain from finding ways to trade peacefully with China.

“The danger is that relations deteriorate, and Beijing announces that it is laying mines along trade routes. Then insurance skyrockets and trade slows down because it becomes less financially viable.”

French defence firm Exail and Saab Australia were shortlisted for the SEA1905 competition to provide mine countermeasure systems and equipment, before the tender was unexpectedly canned.

Exail, which is being bought by defence corporation Thales, is already supplying its mine countermeasure toolkits to the Belgian, Dutch and Saudi Arabian navies. Other countries including the US, UK and India are in talks. 

These toolkits include uncrewed surface vessels, underwater drones equipped with sonar that detect and identify mines, and swimming robots that neutralise ordnance.

An autonomous surface vessel is doing doughnuts in the harbour for engine testing on the day AAP visits the company’s factory in Belgian port city Oostende.

Inside on the factory floor, workers are skilfully hand-wiring the electronics that go into the bright yellow underwater drones.

“All defence is an insurance policy, but mine countermeasures is an insurance policy for the insurance policy to protect your trade,” says Exail’s business development director Ben Vickery, a former mine clearance diver for Britain’s Royal Navy.

Modern minehunting using drones and artificial intelligence systems “keeps the sailors safe” and is more efficient because navies can conduct parallel operations with multiple drones in the water, Exail chief commercial officer Antony Penn tells AAP.

A ship doesn’t have to explode for a mine to be considered effective, he says, and the mere idea that an area is not mine-free casts enough doubt for captains to halt shipping.

A Defence spokesperson said the government is continuing to invest and transition to autonomous systems to further enhance the Australian Defence Force’s mining and mine counter-measure capability.

The government has also directed the ADF to accelerate the acquisition of autonomous mine hunting and neutralisation systems, the spokesperson said.

The US has pressured Australia and other nations to increase military budgets, and Defence Minister Richard Marles says Australia has lifted its defence spending to 2.8 per cent of GDP by the NATO measure.

Meeting with his US counterpart in Washington DC on Thursday Australian time, Mr Marles says he came with a “good story” to tell on expenditure.

“This is the biggest peacetime increase in defence spending that we’ve done … we understand the American position, but I think that is a story which is well received here,” he says.

The reporter travelled to Belgium with support from Exail.

Australian drone operators have arrived in Nepal to help search for those missing in the country’s disaster-stricken regions.

The 15-person specialist team landed in the capital late Friday, with additional support including victim identification specialists on the way following a request for assistance from Nepali authorities.

A glacier collapse near Nepal’s border with Tibet on August 26 triggered devastating floods across towns and valleys.

At least 36 Australians remain missing, with the federal government holding grave concerns for their welfare.

The death toll in Nepal is nearing 1300, with almost 4800 people still missing, including 601 foreign nationals, according to official figures released on Friday.

On the Tibetan side of the border, the death toll rose to 31 on Friday, an increase of 10 since the previous tally, according to Chinese state media.

It was not clear whether they were Chinese or foreign nationals. Some 531 people were reported missing, Reuters reports.

Foreign Minister Penny Wong confirmed on Thursday local authorities would conduct searches in areas where many Australians were believed to have been staying.

She said Australian drone operators and incident management specialists would be sent to the region along as part of a broader on-the-ground support team.

“I can indicate that after our inquiries that Nepali authorities have advised us that searches are being conducted in the locations identified by Australia, including (The Kailash Hotel) and the Royal Himalaya Hotel amongst others,” Senator Wong told reporters.

The drone technology has AI capabilities that can help find victims, along with thermal imaging to identify anyone trapped.

DFAT is working with local authorities to establish the whereabouts and welfare of affected Australians and contact next of kin where appropriate.

Nepali authorities will also be given telecommunication data to help narrow the last known location of missing Australians.

Treasurer Jim Chalmers provided the latest updated on the missing Australians on Friday, confirming that two more citizens were found safe.

It brings the number of Australians found since the catastrophic floods to seven, after five were confirmed safe on Wednesday.

Aid supplies aboard a Royal Australian Air Force plane also arrived in Kathmandu on Wednesday.

More than 1400 hygiene kits, 2200 solar lights and phone chargers were among the items.

Australians underestimate just how transformative artificial intelligence will be, says a high-profile futurist who’s bringing her investing prowess to local shores.

ARK Invest chief executive and co-founder Cathie Wood said while investors understood the opportunities offered by data centres, there’s more to AI than that.

“What’s underappreciated, in terms of AI, is what we call embodied AI or physical AI,” Ms Wood told AAP in an interview while visiting Australia.

The Florida-based executive became one of the most celebrated investment gurus on the planet during the COVID-19 pandemic, after her flagship fund delivered a stunning 153 per cent return in 2020 thanks to big, bold bets on disruptive technologies.

These days the fund’s largest position remains in Elon Musk’s electric vehicle and AI robotics company, Tesla, which she describes as the biggest AI project on Earth.

The fund holds more than $1.6 billion in Tesla shares, making up roughly a tenth of its portfolio.

“Autonomous transportation, we think, is going to deliver revenues within the next five to 10 years of $US10 trillion ($14 trillion) per year,” Ms Wood said, adding that this reflects the entire ecosystem including China.

“Beyond that, humanoid robots, which is also Tesla. We think that’s a $US25 trillion ($35 trillion) revenue opportunity per year, both in the home and in manufacturing.”

Mr Musk’s humanoid “Tesla bot” might be on sale to the public in 2027.

However, Ms Wood believes the biggest transformative opportunity for AI lies in health care.

“We think that AI is going to collapse the time and the cost to discover new drugs and therapies,” she said.

“With just blood tests, it will help us diagnose diseases before they’re even symptomatic.”

AI-powered gene editing will cure diseases, Ms Wood said, pointing to Swiss-American company CRISPR Therapeutics that is already using gene editing to treat rare blood diseases sickle cell and beta thalassemia.

“Many people say, ‘Oh, it’s so small. These are just rare diseases’. It’s not just rare diseases,” Ms Wood said.

CRISPR is also working on a gene-editing therapy to cure bad cholesterol, and Ms Wood believes the one-time infusion has blockbuster investor potential.

Monash University’s Victorian Heart Hospital was among institutions worldwide to participate in an early 15-person clinical trial that concluded in November.

ARK has invested in other companies using AI to quickly develop potential treatments for endometriosis and alopecia, a disorder that causes hair loss.

It currently takes about 13 years and $US2.4 billion ($3.4 billion) to develop a new drug, and Ms Wood believes that AI will collapse that to five years and $US600 million to $US700 million (roughly $907 million).

“We think what’s going to happen in this new age is we’re going to transform sick care, which is where most money is spent today in health care, into real health care and preventative care,” she said.

“I think it’s one of the most exciting developments in healthcare history.”

Ms Wood was speaking to AAP ahead of opening her venture capital fund to Australian wholesale investors through a partnership with Associate Global Partners.

The ARK Venture Fund invests in disruptive public and private companies such as OpenAI, Anthropic and the prediction market Kalshi.

Ms Wood will return in Australia within weeks to meet with potential investors, and praised the nation for its open mind to innovation.

“I shouldn’t be playing Europe against Australia, but you know, Europe is so tied up in regulation,” she said.

Veterans and defence force personnel are being urged to come forward with their experiences of military sexual violence, as an inquiry prepares to hold public hearings.

Former senator and advocate for gender equality Natasha Stott Despoja has been appointed deputy commissioner of the independent Defence and Veteran Service Commission and will lead the probe.

Ms Stott Despoja encouraged people to come forward and share their experiences during the 12-month inquiry.

“Even though my specialty might be more on the gendered violence front, this is really important to me that men feel comfortable to come forward as well,” Ms Stott Despoja said, citing a 60 per cent under reporting figure from the Royal Commission into Defence and Veteran Suicide.

“People who have had traumatic experiences and have often been re-traumatised or felt betrayed by the system, particularly the military justice system … I understand their scepticism and their fear, but I’m hoping we’re going to provide an environment that is sensitive, respectful, and if need be, confidential.”

Men were more likely to experience violence from other men, but through initiation or hazing activities, while women were more likely to face violence from peers or their superiors.

“There’s a reason why many personnel wait until they’ve left the forces in order to talk about what’s happened to them, or intend to seek justice,” Ms Stott Despoja said.

“If there’s some small way that I can be involved in creating a workplace that is more ethical and respectful, then I’m very grateful.”

The inquiry was recommended by the royal commission after it found sexual violence “systemic” in the ADF.

The new probe will begin later in 2026, but public hearings aren’t expected to take place until 2027 as the commission awaits submissions to inform key issues including how the hearings are held and where they should take place.

“In terms of being a future-focused commission … our job is to come up with solutions that will actually make a difference,” Ms Stott-Despoja said.

The federal government has waived non-disclosure agreements for victim-survivors, after the gag orders stopped some people from engaging in the royal commission.

It followed a campaign by survivors, who were told by the government that Defence no longer issued NDAs arising from sexual harassment and sexual violence matters.

Veterans’ Affairs and Defence Personnel Minister Matt Keogh said the standalone inquiry would improve protections for victim-survivors of military sexual violence and ensure perpetrators were held to account.

“Those who wear our uniform might expect to face threats to their safety on the battlefield, but never from those whom they serve alongside,” he said.

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World food prices have risen to their highest since late 2022, as adverse weather and war ‌disruption in the Black Sea heightened concern over the supply of staples.

Extreme heat ‌and drought in Europe, the threat of a severe El Nino weather pattern and trade upheaval caused by wars in Ukraine and Iran have unsettled agricultural markets, pushing grain prices to three-year highs and sugar to a one-year peak, the United Nations’ Food and Agriculture Organization said.

The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 133.3 points in August, up from July’s ‌revised reading of ‌130.8.

That was the ⁠highest score since November 2022, though nearly 17 per cent below a record peak from ​March 2022, shortly after Russia’s full-scale invasion of Ukraine.

“August’s increase in global food prices is a warning that the risk premium is returning to food markets: climate shocks, geopolitical tensions and disrupted trade logistics are converging to tighten supply expectations,” FAO Chief Economist Maximo Torero said in a statement.

The FAO’s price benchmarks for cereals, vegetable oils, sugar, meat and dairy all rose in August.

Extreme weather in ⁠Europe affected prospects for the maize and sugar-beet harvests as ‌well as ​livestock output, while the anticipated El Nino phenomenon fuelled concerns for palm oil and sugar output in Asia, the organisation said.

Escalating attacks ​in the Black ‌Sea have curtailed grain shipments from Russia and Ukraine in their ongoing war, while the US-Iran conflict has strained the ​flow of fertiliser for crops.

Among food categories, FAO’s cereals price index rose 2.2 per cent month-on-month to its highest since May 2024, and the vegetable oil index edged up 0.6 per cent to its highest since June 2022.

The agency’s sugar benchmark jumped ​11.9 per cent ​to its highest since June 2025, with lower ​production in Brazil’s crucial centre-south region adding to weather concerns in ‌Europe and Asia.

In a separate report, the agency cut its 2026 global cereal production forecast by 3.4 million metric tonnes from a previous estimate in July to 2.980 billion tonnes, now 2.0 per cent below 2025 in the largest annual decline since 2018.

Projected output would still be the second-largest on record, however.

Forecast world cereal stocks at the close of 2026/27 were revised down 1.1 per cent to ​947.2 million tonnes, now only marginally above the previous season.

A reduced estimate of coarse grain stocks outweighed an upward revision ​for wheat that reflected an ⁠anticipated build-up in Russian and Ukrainian stocks due to shipping disruption, the FAO said.