FEAR & GREED | Business News $475m Robodebt settlement; PM ‘never will’ meet Putin; Chinese car surge
Sep 4, 2025
The government is set to pay $475 million in compensation to Robodebt victims, addressing past injustices. Meanwhile, Macquarie Bank is shaking up the mortgage market with a significant push into digital services. In automotive news, four Chinese car brands are now among the top ten sellers in Australia, highlighting a shift towards electric vehicles. Political tensions rise as the Prime Minister distances himself from a former leader, while the ASX shows promising signs of recovery after recent market fluctuations.
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RoboDebt Settlement Widens Compensation
- The federal government agreed to pay an extra $475 million to RoboDebt victims, expanding a previous $1.8 billion settlement.
- Attorney-General Michelle Rowland says the payout would cover more than 450,000 Australians and aims to be just and fair.
Political Knowledge Increased Claim Size
- Evidence showed the former coalition government knew RoboDebt was illegal but proceeded, prompting lawyers to seek more compensation.
- Gordon Legal described the extra payout as vindication amid lasting trauma and suicides linked to the scheme.
PM Distances From Andrews' Foreign Visits
- Prime Minister Anthony Albanese distanced himself from Daniel Andrews after Andrews attended foreign leaders' events.
- Albanese stressed he hasn't and "never will" meet Vladimir Putin or North Korea's leader and said no government rep was sent to the parade.