An update to the Goods and Services Tax (GST) distribution has left Queensland losing $1.2 billion in public funds compared to last year, while Victoria gains almost $3.9 billion due to its struggling economy. Victoria will now receive 28% of all GST funds, including ‘no worse off’ payments, totaling almost $28 billion. Queensland, on the other hand, will have its GST take slashed by $2.4 billion to $16.6 billion for the 2025-26 financial year, due to increased coal royalties, making it the only jurisdiction to receive less GST than the previous year.
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Lee elected South Korean president as rival concedes
Lee Jae-myung Elected President of South KoreaLee Jae-myung, a progressive leader from the Democratic Party, has been elected president of South Korea, succeeding Yoon Suk-yeol. With 49% of the vote, Lee's victory comes amid public frustration over Yoon's brief imposition of martial law. Although it remains unclear if Lee will significantly shift foreign policy, he emphasized the importance of the U.S. alliance while promoting goals of economic revitalization and peace with North Korea, despite being...
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