HIP POCKET NEWS – Thursday August 11 2016
Each day, we summarise the biggest cost of living stories around the country so you can get your Hip Pocket News in no time.
ELECTRICITY
Essential Services Commission of SA abolishes Retailer Feed in Tariff to pay solar panel owners
Publication: The Advertiser
One-sentence summary: Electricity companies will soon be no longer forced to pay solar panel households the $200/yr.
Electricity blackout warning if carbon reduction goal to be met
Publication: The Sydney Morning Herald
One-sentence summary: Power outages are posing a threat over the next decade if Australia is to meet its global carbon reduction commitment as it will force the closure of brown and black coal power stations across the eastern states.
AGL flags risks to earnings growth
Publication: SBS
One-sentence summary: “AGL Energy has suffered full-year loss of $408 million on the back of impairment charges related to its exit from gas exploration.”
WA’s Western Power to cut 175 jobs prior to potential privatisation
Publication: Perth Now
One-sentence summary: Western Power to slash 175 jobs as part of its long-term plan and prior to privatsation.
HEALTH
Commissions, conditions and competition needs transparency
Publication: The Daily Telegraph
One-sentence summary: “CONSUMERS may rightly be suspicious of commissions paid to advisers or others who sell them a range of products such as mortgages, investments or insurances.”
Health needs of hundreds of millions in Asia could be a bonus for Queensland
Publication: The Courier Mail
One-sentence summary: According to Queensland Health Minister, the health of hundreds of millions of Asians could provide Queensland with ‘lucrative new markets’.
OLDER CONSUMERS
Ageing Australia: Pluses and minuses for nation showing its age
Publication: The Australian
One-sentence summary: Pros and cons of people living longer; “the impact the ageing process will have on our ability to service the needs of the population, I suspect this is the issue that will reshape Australian society most profoundly over the coming decade.”
Super policy ill-conceived says financial advisers
Publication: The Australian Financial Review
One-sentence summary: According to financial advisers, Australia’s $2 trillion super system will become more complicated because of the Coalition’s decision to grant exemptions to a proposed rule limiting super contributions.
Pension changes to hit retirement adequacy
Publication: Investor Daily
One-sentence summary: “The new asset test for the age pension, coming into effect on 1 January 2017, will have a "significant impact" on the retirement adequacy of Australian couples, according to a new report.”
More Aussie households predicting debt troubles
Publication: The Adviser
One-sentence summary: A recent report found that the number of Aussie households predicting debt difficulties has doubled; baby boomers declined the most.
YOUNGER CONSUMERS
Gen Y don’t like getting their hands dirty with 35 per cent opting to outsource their cleaning
Publication: The Herald Sun
One-sentence summary: 35% of young Australians would rather hire someone to clean their house than do it themselves.
One in three regret going to uni: UK study
Publication: News.com.au
One-sentence summary: A UK study found 1/3 18 to 35 year olds regret going to university due to their student debts.
Younger Generations Face More Financial Struggles: Survey
Publication: Your Investment Property
One-sentence summary: A survey conducted by ME found that younger generations face a tougher financial future compared to their parents.
