Australia news LIVE: PM in Queensland as cyclone looms; National accounts reveal economy has emerged from per capita recession

The destruction expected to be wrought by Cyclone Alfred will have a “substantial cost” to the upcoming national budget, says Treasurer Jim Chalmers.

“Of course it will [but] our focus is on the human cost of these natural disasters,” Chalmers told ABC TV’s Afternoon Briefing a short time ago.

“When the time comes, there’ll be a substantial economic cost, and there’ll be a substantial cost to the budget as well.”

To those in the path of the cyclone, Chalmers said the government would “be there for you”.

“We’re prepared to do whatever it takes to help people prepare, to help people respond, and then, of course, to rebuild as well. Now that will come with a cost, but that’s not our primary focus,” he said.

“Our exclusive focus right now is on the human element of this.”

Cyclone Alfred could dump almost half a year’s worth of rain over Brisbane in just 24 hours.

Brisbane typically receives between 140 and 180 millimetres each month during the summer months, the wettest time of the year.

Over Thursday and Friday, Brisbane could receive between 200 and 250 millimetres of rain within six hours.

In just 24 hours, Brisbane could receive between 300 millimetres and 400 millimetres of rain – the equivalent to three months’ worth of rain in one day.

Brisbane’s average yearly rainfall is around 1000 millimetres, meaning Alfred could dump almost half a year’s worth of rain over the city in one day.

During the 2022 floods, Brisbane received 1100 millimetres of rain between February 23 and 28, much of which fell over three days to February 27.

Cyclone Wanda, the system behind Brisbane’s historic 1974 floods, drew a monsoonal trough behind her that dumped 642 millimetres of rain over Brisbane in just three days.

The latest tracking map from the Bureau of Meteorology suggests Cyclone Alfred could cross the coast just north of Brisbane.

My colleague Stephanie Peatling has provided this summary of the key takeaways from Donald Trump’s speech to Congress earlier today:

• after a frenetic first six weeks in office Trump used a joint address to Congress to highlight his administration’s actions;
• the most noteworthy item was his conciliatory tone towards Ukraine following statements by Volodymyr Zelensky that he regretted his angry exchange with Trump and wanted to return to the negotiating table;
• Trump also took credit for “swift and unrelenting action” in turning around the nation’s economy and praised Elon Musk’s work as the head of DOGE;
• he also announced retaliatory tariffs beginning on April 2 following an escalation of tariff hostility from Canada and China;
• Trump’s speech was enthusiastically received by his supporters while Democrats in attendance engaged in forms of protest including holding up paddles saying “lies”;
• Trump concluded by saying he was saved by God to return America to greatness.

Shadow treasurer Angus Taylor has scaled back the Coalition’s rhetoric about cracking down on insurance companies to boost competition in the market, making it clear there is no plan to use divestiture powers to force change on the industry.

The remarks triggered Labor claims of a split in Coalition views on insurance because Opposition Leader Peter Dutton had signalled the use of divestiture powers in an interview only two weeks ago.

Taylor made his remarks during a statement to the media on Wednesday, expressing confidence the Coalition would take office after the election.

“When we’re in government, and also, since we’ve been in opposition, we will take action against anti-competitive behaviour,” he said.

But he treated this separately to the use of divestiture powers to break up the supermarket companies if they stifle competition.

Taylor said the supermarkets and hardware stores would face “the prospect of divestment” under a Coalition government, but he said that insurance companies would be expected to act in a “pro-competitive way” without naming them as targets for divestment.

This came after he spoke at a business conference held by The Australian Financial Review earlier on Tuesday, where the publication’s political editor, Phillip Coorey, asked him about the issue.

While the United States uses divestiture powers to break up big companies that hinder competition – most famously with the split of the telephone monopoly a generation ago – there is no similar law in Australia.

The Coalition policy would be the first use of such a law, even if confined to supermarkets and hardware stores.

When Coorey asked Taylor if the divestiture powers would extend to insurance companies, Taylor said: “No. We’ve been clear on that.”

This countered the message two weeks ago from Dutton when he told Sky News he was willing to intervene in the insurance market.

“As we’ve done with the supermarkets, where we have threatened divestment if consumers are being ripped off, similarly, in the insurance market, we will intervene to make sure that consumers get a fair go,” he said.

Treasurer Jim Chalmers said the Coalition was guilty of “slapstick” policy.

“They’re making it up as they go along – one says one thing, another says something completely the opposite. They’ve had three years now to get their story straight on the economy. They are hopelessly divided on such a simple question of whether or not they’d intervene in this market. They can’t get their story straight.”

Queensland Premier David Crisafulli has warned the millions of residents in the path of Cyclone Alfred that the category 2 system could cross the coast in the middle of the night, and coincide with a high tide.

He has advised people in the flood zones to make a decision now to evacuate and stay with family or friends, with evacuation centres available as a last resort.

“To the other residents, the vast majority of Queenslanders in this area – this large, populated area in the south-east – the safest place for you is at home, with your family,” he said.

The Queensland premier has also announced that the Gold Coast Airport at Coolangatta will close at 4pm on Wednesday.

There is no word yet on when Brisbane Airport will close.

Victorian parliament’s public gallery has been cleared during question time after angry doctors, nurses and patients from north-east Victoria and southern NSW shouted “shame”, “disgrace” and “people’s lives matter” at Health Minister Mary-Anne Thomas during question time.

Earlier on Wednesday, a group of about 200 residents had protested on the steps of parliament, calling on the government to build a brand-new hospital on a greenfield site to cater to the growing regional community of Albury-Wodonga.

Speaker Maree Edwards ordered the gallery cleared shortly after 2.40pm.

The health minister had been answering a question from Liberal MP for Benambra, Bill Tilley, and reiterated her commitment to building a new hospital on the existing Albury Hospital site when the regional Victorians began shouting “shame!” and filing out of the gallery in disgust.

Protesters say the government’s plan, inked with former NSW premier Dominic Perrottet, is not appropriate for the growing community.

Many had travelled more than three hours for today’s protest. Residents of Albury-Wodonga have for years called for a new hospital on a greenfield site.

On the news of the prime minister’s cancelled trip to WA for this weekend’s state election to instead focus on the response to Cyclone Alfred in Queensland and northern NSW, here’s a quick rundown from Marissa Calligeros on the current cyclone situation:

• Millions of people are finalising preparations as Cyclone Alfred barrels towards the Australian coast.
• Cyclone Alfred is expected to make landfall in Brisbane as a category 2 system – possibly just south of the CBD – early Friday morning, but possibly earlier.

• The danger stretches far further afield, and wild weather is tipped to start up from Wednesday, with the warning zone from Double Island Point in Queensland (about 65 kilometres north of Noosa) to Yamba in northern NSW, south of Byron Bay.
• Alfred is set to bring flash flooding, heavy rain, destructive winds and storm surges at its height, with south-east Queensland facing its first direct cyclone impact in 50 years.

Anthony Albanese has changed his plans for the coming days after visiting Queensland on Wednesday to meet state leaders and officials over preparations for the landfall of Cyclone Alfred within days.

While the prime minister was due to go to Perth this weekend to campaign with Labor volunteers at the state election and join Western Australian Premier Roger Cook on the final day of campaigning, he has cancelled the trip to keep an eye on the potential natural disaster on the east coast.

A federal official confirmed the change after Sky News reported the cancellation earlier on Wednesday.