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Australia politics live: Coalition to heavily cut net migration and shred 96% of house construction code; CBA posts bumper $11bn profit

Policy comes as debate continues over causes of and solutions to housing issues. Follow today’s news live Get our breaking news email , free app or daily news podcast ‘Some people call it putting on a jumper’: Should energy efficiency standards in housing be optional? The opposition is considering it. We have a risk that Australians can’t afford to rent or to buy their own home by the…

Australia politics live: Coalition to heavily cut net migration and shred 96% of house construction code; CBA posts bumper $11bn profit

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More in Finance & Markets

Litigation costs a factor as ASB net profit drops to $1.3b

ASB is the first of the big four Australian-owned banks to report its New Zealand result.

  • ASB's net profit drops to NZ$1.3 billion, a 2% decrease
  • $135 million settlement from class action lawsuit impacts costs
  • Home lending sector grows by 6% to NZ$84.5 billion