10th August 1996 - Today's Headlines from Australia's first Internet daily

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Saturday 10th August 1996

International:

Seems like Foreign Minister Downer's press liaison officer has been more than a little busy this week... with reports in today's paper of all his good deeds, a la "cementing China relations in an upcoming trip"; "and mending Malaysian ties in a recent trip"...

In the latter story it has been reported that his trip to Malaysia has been smooth and trouble free and that by not raising the issue of the Malaysian initiative of the East Asian Economic Caucus (EAEC) - which Australia doesn't support Mr Downer had ensured that the atmosphere remained friendly in relaxed.

Well done! So tell me why did you go there, sure there were the long lunches, handshakes and cocktail parties accompained by handshakes, photo opportunities and smiles - but did you actually achieve anything?

Now a well meant word of advice, don't make your bowing and scraping to the Chinese to obvious in front of the world media while in Beijing and remember not to mention the Dalai Lama while there - after all you recently approved his visit to Australia.

Tsk, tsk.

In the green men story (life on Mars) the hype goes on. I am always amazed at the amount of politically motivated drivel that the Yanks can generate in such a short period of time. I mean this "space summit" declared by Star Fleet Commander Bill Clinton has got to be the king hit of politically motivated initiatives in our time.

Not since H G Wells wrote that famous finction story, the War of the Worlds in 1898 has so much attention been given to the red planet.

Here are some other smart, but too politically hot, things that Commander Bill can have a summit on:

Removing guns, drugs, gangs and underage kids from the streets in the US.
Who really did kill JFK?
Teaching tourists from the US to lower their voices in crowded places when overseas. (The rest of the world doesn't have to shout to be heard.)
Sorting our the tragedy in Burundi.
Returning Vegemite to the Australia people as an Australian owned icon.

Political:

The Federal Government will cut Au$1.8 billion from higher education funding over the next four years as part of a radical policy overhaul in this sector. The Government will cut operating grants and force all graduates to repay the Higher Education Contribution Scheme (HECS) debts to the government more quickly.

It has also refused to increase funding for academic pay increases

The changes released by the Minister for Education, Senator Amanda Vanstone, produced a bitter backlash from student groups and University administrators yesterday.

The main points are:

HECS repayment threshold lowered from Au$28,495 to Au$20,701.
HECS increases for all students enrolling from 1997 to bring revenue of Au313 million by 2000 under new three tiered system
- - 35% rise for arts, social sciences, education and nursing to Au$3,300 a year;
- -92% rise for maths, computing, other health sciences, agriculture, architecture, science, engineering, administration, business and economics to Au$4,700;
- - 125% rise for law, medicine, dentistry and vet science to Au$5,500.
Upfront fees for up to 25% of course enrolments not funded by government, except medicine.
4.9% cuts in operating funds over four years to save Au$832 million.
Austudy means test to be tightened in the Budget.
1000 HECS exemption scholarships for disadvantaged students per year.
Extra Au$90 million in research funds and Au$40 million for postgraduate and collaborative research grants.
Au$72 million for Aboriginal students.
Major inquiry into long term funding for higher education.
Review of accountability required for universities.

Business:

For the last word on Australian funded home loans here are the stats:

Lender Basic
Variable Establishment
Fee Standard
Variable Establishment
Fee Monthly Admin Fee
ANZ 8.55% Au$600 9.25% $0 $0
Commonwealth 8.5% $0 9.25% $0 $8
NAB n/a n/a 9.25% $0 $5
Westpac 8.4% Au$500 9.3% $0 $8
St George Bank 8.5% Au$500 9.4% Au$500 $0
Advance Bank n/a n/a 9.25% $0 $3
State Bank NSW n/a n/a 9.25% $0 $6
Suncorp 8.45% Au$650 9.25% Au$650 $0
Aussie Home Loans n/a n/a 8.65% Au$600 $0
Priority One n/a n/a 8.59% Au$500 $0
National Mutual n/a n/a 8.6% Au$500 $0

Sport:

Since the close of the Olympics in Atlanta must confess that the upbeat Aussie rules and rugby league games appear rather amateurish... just as well we have a leading golfer Steve Elkington performing so well at the US PGA.

Elkington, who took it out in 1995, is right there with a great start.

Of course there is a great tussle going on between the Audia A4 quattro's as the BOC Super Touring Car Championship at the Malalla race track this weekend.

Personal trivia, from the global office:

Today we release the Greg Chappell Cricket Centre web site. The best thing to come for cricket lovers since the willow was first picked up and lashed at a ball in anger.

Cold overnight (got to one degree celcius) but beautiful outside now and warming up fast.

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Lender	Basic Variable	Establishment Fee	Standard Variable	Establishment Fee	Monthly Admin Fee
ANZ	8.55%	Au$600	9.25%	$0	$0
Commonwealth	8.5%	$0	9.25%	$0	$8
NAB	n/a	n/a	9.25%	$0	$5
Westpac	8.4%	Au$500	9.3%	$0	$8
St George Bank	8.5%	Au$500	9.4%	Au$500	$0
Advance Bank	n/a	n/a	9.25%	$0	$3
State Bank NSW	n/a	n/a	9.25%	$0	$6
Suncorp	8.45%	Au$650	9.25%	Au$650	$0
Aussie Home Loans	n/a	n/a	8.65%	Au$600	$0
Priority One	n/a	n/a	8.59%	Au$500	$0
National Mutual	n/a	n/a	8.6%	Au$500	$0

an Aussie's viewpoint on Australia's first daily Internet newspaper. Search news archive Saturday 10th August 1996