Australia's energy transition is urgent and faces significant risks if red tape, community uncertainty and supply chain issues are not fixed, officials warn.
The ASX200 has closed up 1.65 per cent to hit a four-month high, while the Aussie dollar climbed to more than 67 US cents on a mixed domestic jobs report.
The federal treasurer has announced a better-than-expected $1.1 billion deficit for this financial year, with revenue upgrades banked to help fight inflation.
The ASX 200 made its biggest daily gain in more than a year as lower-than-expected GDP growth signals the RBA's rate rises are having their intended effect.
The treasurer will host roundtables with banks, investors and philanthropists to try and secure private sector investment for energy, defence and social issues.