Australian news and politics live: Senator Mehreen Faruqi stages silent protest during G-G Sam Mostyn’s speech

Borrowers have been told to expect only two more interest rate cuts this year as Michele Bullock’s Reserve Bank sticks to its guns on a “cautious” approach to relief.

The RBA held the cash rate steady at 3.85 per cent earlier this month, resisting a flood of investors and commentators tipping a move.

Minutes from that meeting — released on Tuesday — have revealed the bank’s top officials remain concerned that the inflation fight remains unfinished.

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While the opening address of the new Parliamentary term delivered by Governor-General Sam Mostyn is written by the Government, the last few lines of the speech appeared to come from the heart.

“It is now time for you to act as stewards of our proud democratic traditions and faithfully cut out the duty with which Australians have entrusted you,” she said while looking across the Senate.

“As the Prime Minister has observed, democracy is always a work in progress, one that thrives when ideas and propositions are subject to robust but respectful interrogation.

“I wish you all the very best as you build how extraordinary nations future together.

“It is now my duty and my honour to declare the 48th Parliament of the Commonwealth of Australia open. Thank you.”

The Government is committed to delivering cheaper, cleaner energy for Australian households and businesses.

“Decarbonising Australia’s electricity grid is vital to achieving the zero targets and the government will continue pursuing its goal of 82 per cent renewables by 2030 backed by batteries, hydro and gas,” Ms Mostyn said.

“The Government recognises the importance of private sector investment to this transformation.

“It is investing an additional $2 billion in the Clean Energy Finance Corporation to unlock $6 billion of private sector investment and incentivise homes and small businesses to switch to renewables.”

Ms Mostyn also highlighted the Government’s commitment to strengthening Australia’s defence capabilities and international partnerships.

Defence spending is set to increase from $59 billion in 2025 to nearly $80 billion by 2030, with a focus on boosting domestic manufacturing, including missile production.

The Government will continue advancing the AUKUS alliance, negotiate new defence partnerships.

“The Government will also negotiate a security and defence partnership with the EU to strengthen cooperation on global security challenges and it will continue to invest in security and cooperation and defence links with the countries of our region, including key neighbours like Indonesia and Papa New Guinea,” Ms Mostyn said.

Amid global uncertainty, the Government is prioritising national security while ensuring robust support for defence personnel and veterans.

The Government has declared “self-determination” will be key to closing the gap in health, education and economic outcomes for Aboriginal and Torres Strait Islander peoples.

Ms Mostyn said the Government would launch the first standalone national plan to end violence against Indigenous women and children this term.

“This term, the Government will continue to invest in better outcomes for Aboriginal and Torres Strait Islander peoples, honouring their profound connection to country,” she said.

“This commitment is grounded in the principles of self-determination and genuine partnership.

“Also high on the agenda is launching the first standalone First Nations national plan to end violence against Aboriginal and Torres Strait Islander women and children.”

Ms Mostyn’s speech has highlighted that women now make up the majority of the Federal cabinet. Mostly, within Labor.

“For the first time in Australia’s history, women make up the majority of the Federal Cabinet,” she said.

“This is a Government that places gender equality at the heart of its agenda. That is a source of pride.

“Developed during its first term, the Government’s working for women strategy sets out its vision for gender equality.

“For an Australia where people are safe, treated with respect and can make choices, access resources and achieve equal outcomes.”

Ms Mostyn says boosting productivity will be central to the Albanese Government’s second term agenda.

She told the Senate in her official opening address, which is penned by the Government but delivered by her, that it was committed to building a resilient, diversified and productive economy.

Key measures include investing in skills, research and infrastructure, cutting red tape and supporting small businesses with over $2 billion in targeted assistance.

It will also create a national “productivity fund” and work to ban non-compete clauses for most workers.

“Its ambition is to build an economy where wages, growth and productivity rise together,” she said.

“Meeting this ambition requires a unified national effort.

“Government, business unions and civil society working together to boost productivity and strengthen Australia’s budget sustainability and economic resilience.

“The Government respects the vital role the Australian public service has to play in the development and delivery of these reforms.”

Women will benefit from expanded access to long-acting contraceptives, new menopause health rebates, and more pelvic pain and endometriosis clinics.

The Government’s investment of $790 million aims to improve choice and affordability in women’s healthcare.

“This funding will give women more choice and reduce the costs of long acting reversible contraceptives,” Ms Mostyn said.

Pelvic pain and endometriosis clinics will increase from 22 to 33 nationwide, with new services for menopause and perimenopause care.

A new Medicare rebate for menopause health assessments will help women access essential care without added costs.

In the opening address of the 48th Parliament, Governor‑General Sam Mostyn has revealed Labor’s focus on housing.

The address highlighted the Government’s committment to helping more Australians own homes.

It included helping 40,000 more people buying their first home through its Help to Buy scheme and expanding the Home Guarantee Scheme to all eligible first-homebuyers.

It plans to deliver 1.2 million homes over five years, including 100,000 reserved for first-home buyers, and boost rental security through 80,000 build-to-rent properties with five-year leases.

To speed up construction, it will invest in modular housing, train more tradies,and double incentives for housing apprentices.

Greens senator Mehreen Faruqi, wearing a green keffiyeh scarf, is holding up a sign during the G-G’s speech, reading: “Gaza is starving, words won’t feed them, sanction Israel.”

Because the president isn’t in the chair, there’s nothing being done to stop the silent protest.

But I imagine the issue will be raised later as a breach of parliamentary rules banning such props.