Former Labor minister calls for major tax shake-up
David Bradbury, the OECD’s departing tax executive, believes Australia needs a new review of tax and spending across the federation to implement difficult reforms.
Commonwealth
Australia bank CEOs call for a fix to housing shortage
Australia’s housing shortage is driving prices higher and locking out first-time homeowners and migrants needed to fill skills shortages across the country, according to the CEOs of Australia’s three largest banks.
King Charles hopes to visit The Bahamas next year, prime minister’s office says
King Charles, who is undergoing cancer treatment, hopes to visit The Bahamas next year, possibly coinciding with the country’s independence celebration in July 2025.
Western banks warn of risks in EU plan to grab Russian assets, sources say
Western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets due to fears of costly litigation. EU leaders have agreed to work on a plan to use up to 3 billion euros a year to supply arms to Ukraine, funded by the interest from these assets. Banks are concerned about potential liability from Russia, the erosion of trust in the western banking system, and the legal implications of transferring money to Ukraine. Euroclear holds 190 billion euros of Russian central bank securities and cash, and more than 3.5 million Russians have frozen assets abroad worth around 1.5 trillion roubles. The EU plan includes paying a fee to Euroclear and allowing it to retain 10% of the profits as a safeguard against litigation. Ninety percent of the seized cash would be used to buy arms for Ukraine, with the rest for recovery and reconstruction. The proposal has raised concerns about the legal risks for banks and the potential for prolonged international legal disputes.
Phoebe Coles bears Cyprus flag at Commonwealth Day
Phoebe Coles carried the Cypriot flag during the Commonwealth Day service at Westminster Abbey on March 11. She was chosen to represent Cyprus during the ceremony marking the 75th anniversary of the Commonwealth. Coles has been recognized for her humanitarian work, including receiving an honor at the Global Youth Awards in London. She is the founder and director of ‘Vicinus’, a voluntary humanitarian group focusing on education, fundraising, and advocacy for human rights, particularly concerning women, youth, refugee, and migrant rights and empowerment in Cyprus.
King Charles hails Commonwealth but misses annual celebrations
King Charles praised the Commonwealth’s work during its 75th anniversary year in a pre-recorded video message, as he was absent from the annual celebrations due to recuperation from cancer treatment. The Commonwealth Day events, significant in the royal calendar, proceeded without him, with Queen Camilla leading senior royals at Westminster Abbey. The Commonwealth, a voluntary association of 56 nations, was highlighted by Charles as a source of strength, inspiration, and pride in his life.
How to watch the Commonwealth Day service [VIDEO]
![How to watch the Commonwealth Day service [VIDEO]](https://ch.jfdi.cc/wp-content/uploads/2024/03/how-to-watch-the-commonwealth-day-service-video.jpg)
– The Commonwealth Day service celebrates the 75th anniversary of the Commonwealth, a club of 56 countries evolved from the British Empire.
– The service will be broadcast live from Westminster Abbey on BBC One and BBC iPlayer at 4:35 p.m., and on BBC’s YouTube channel.
– Performances from musicians and groups from Uganda, India, and Samoa will be included in the event.
– Phoebe Coles has been selected to represent Cyprus as the flagbearer at the Commonwealth Day Service and Celebration.
– Last year, the event featured a performance by the Cypriot all-female “Amalgamation Choir“.
– King Charles will be absent from the annual Commonwealth Day celebrations due to recuperation from cancer treatment.
– Queen Camilla will lead senior royals at the service at London’s Westminster Abbey and a reception at the Commonwealth’s international headquarters.
– Kate, the wife of Prince William, will also be absent as she recovers from abdominal surgery.
– The Commonwealth covers 2.5 billion people and was significantly shaped by Queen Elizabeth, Charles’ late mother.
– British Foreign Secretary and former Prime Minister David Cameron attended the annual Commonwealth Day service at Westminster Abbey in London, Britain, on March 11, 2024.
– Anti-monarchy protestors demonstrated on the day British royals attended the annual Commonwealth Day service at Westminster Abbey in London, Britain, on March 11, 2024.
King Charles hails Commonwealth but misses annual celebrations
King Charles praised the Commonwealth during its 75th anniversary year in a pre-recorded video message, despite missing the annual Commonwealth Day events due to recuperation from cancer treatment. This year marked the first time Charles, aged 75, missed the significant royal occasion because of his health. Queen Camilla represented him at the service in Westminster Abbey and a reception at the Commonwealth’s headquarters. The Commonwealth, a voluntary association of 56 nations, was highlighted by Charles as a source of strength, inspiration, and pride throughout his life.