News and politics live updates: Albanese and Minns announce $2.5bn bailout for Tomago Aluminium smelter, NSW

US President Donald Trump has declared that America has “total control” of the Strait of Hormuz and suggested the United States could keep its grip on the critical shipping route as he unleashed a blistering attack on Iran.

In a fiery Truth Social post, Mr Trump claimed the US naval blockade had become a “WALL OF STEEL” that Tehran was powerless to overcome, while painting a dire picture of Iran’s military, economy and leadership.

“The U.S.A. has total control over the Strait of Hormuz. I THINK WE WILL KEEP IT!” Mr Trump wrote.

“Our Naval Blockade is being called, by everyone, ‘A WALL OF STEEL,’ and there is nothing Iran can do about it.”

The President went on to claim Iran had been left without an effective navy or air force and that its Islamic Revolutionary Guard Corps had been decimated.

“They have no Navy, they have no Air Force, their remaining soldiers are unpaid, the IRGC is decimated and fleeing, and their ‘Leadership’ is uncertain, at best!” he wrote.

Mr Trump also took aim at Iran’s economy, claiming the country had “No Money” and was battling soaring inflation.

“Their country is ‘shot.’ All they have is FAKE NEWS and 300% INFLATION, and getting worse!”

The Strait of Hormuz has been at the centre of escalating tensions in the Middle East, with the strategically important waterway serving as a crucial route for global energy supplies.

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Nationals Senator Bridget McKenzie has rejected comments from failed South Australian One Nation candidate Parminder Singh, who claimed gay Australians had a mental illness, while arguing some members of the community were turning towards the Coalition.

“I’m not going to comment on One Nation members or candidates, only to say that Australia’s gay community is not mentally ill as this One Nation candidate purports. You know, the gay community is politically diverse,” Senator McKenzie told Today.

“Many are joining the National Party and the Liberal Party because they’re sick of a very, very bad Labor government. But I think for many in the gay community, they are joining the National Party because they, like we, are very concerned about Islamic extremism and the impact it has on their daily lives. I think that is why political movements like the Nationals and the Liberals have a plan to deport hate preachers, if we get the great opportunity to come to government.”

Her comments come after One Nation MP Barnaby Joyce also distanced himself from Mr Singh’s remarks on Wednesday, claiming the minor party was “one of the gayest parties in Australia”.

Thousands of students are expected to rally in Students Say No to Pauline Hanson protests across major cities and towns.

“I’m hoping this will be the start of a real kind of movement,” Ms Park, who is organising the Canberra protest, told AAP.

“We want to make sure we lay the best basis for ... an anti-racist, anti-sexist, anti-bigot response in Australia.”

Rally flyers distributed by the National Union of Students include calls to “fight against racism” and “stand up against the far right”.

Senator Hanson used her June National Press Club address to call for a monocultural Australia before appearing on a podcast hosted by British far-right activist and convicted criminal Tommy Robinson during a work trip to the UK last month.

Senator Hanson’s track record shows she has voted against education policies such as free TAFE and increasing funding for public schools, union general secretary Akash Nagarajan said.

“Pauline Hanson actually doesn’t stand for things that benefit students’ lives....(and) a lot of students are galvanised by that,” the 21-year-old said.

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Industry Minister Tim Ayres has sidestepped questions over where the money for the $2.5 billion bailout of Australia’s largest aluminium smelter will come from.

The 10-year deal to secure the future of Tomago Aluminium will also see its operators invest $100 million towards decarbonisation and a demand-response program, while Mr Ayres said the agreement would help inject 3 gigawatts of new electricity generation.

Asked on ABC News Breakfast how the Government would fund the package, Mr Ayres did not provide a direct answer.

“This will be accounted for in the budget properly. We made it clear when we made a commitment in 2023, I think it was, just casting back, that we would deliver a transformation package for the Australian aluminium industry,” Mr Ayres says.

The future of Australia’s largest aluminium smelter and more than 1000 jobs has been locked in under a major multibillion-dollar bailout announced by Prime Minister Anthony Albanese and NSW Premier Chris Minns.

Resources giant Rio Tinto had warned that the Tomago Aluminium plant, Australia’s largest single electricity user, may be forced to close when its current power deal expires because of rising energy costs.

But there is now certainty over the future of aluminium smelting in the Hunter Region and more than 1000 direct jobs beyond 2028 after a $2.5 billion rescue deal funded jointly by the Commonwealth and State government was revealed.

“In December last year I stood in the rain at Tomago and told the workers ‘we have your back’,” Prime Minister Anthony Albanese said.

“Today, alongside the NSW Government, we deliver on that promise.

“This site isn’t just important for Newcastl​e​ and the Hunter, it’s a critical asset for the country and our manufacturing future.”

The smelter opened in 1983 and operates around the clock, producing about 590,000 tonnes of aluminium annually.

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Prime Minister Anthony Albanese is heading to Tomago this morning alongside Chris Bowen and Tim Ayres after the government unveiled a massive $2.5 billion deal to secure the future of Australia’s largest aluminium smelter.

The leaders are expected to front a joint press conference from the Hunter this morning, where they’ll face questions over the rescue package and the future of more than 1000 jobs at the facility.

We’ll bring you all the key moments from Tomago, plus the biggest breaking news and political developments throughout the morning.

Stay with us.