Deep Impact, The Year of Living Cheaply
Deep Impact
At more than three hundred and sixty billion dollars, the cost for Australia to acquire a fleet of nuclear-powered submarines is beyond substantial. For the money though, the country will get enormous firepower in the form of the most advanced, and lethal, fighting machine humans can build. The politicians who engineered the deal through the AUKUS security pact say we will also obtain something that's impossible to put a price on: stability in our region. China definitely doesn't agree, but the theory is that by showing our fighting capability, Australia is really proving how much we want peace. But what are these submarines really like? On 60 Minutes, Amelia Adams is given very rare permission by the United States Navy to go aboard and test drive one of its incredible attack subs, the Virginia Class USS North Carolina.
Reporter: Amelia Adams
Producers: Natalie Clancy, Sheree Gibson
The Year of Living Cheaply
The belt-tightening endured by the majority of Australians over the past year has caused enormous hardship. Finally though, last Wednesday, there was a glimmer of hope when the latest inflation number turned out to be lower than expected. It means there's less chance on Tuesday that outgoing Reserve Bank governor Philip Lowe's parting gift to the country will be a thirteenth interest rate rise. It's a small mercy for many, but for other cash-strapped mortgage holders and renters it's already too late. And also adding to their economic misery, Tara Brown reports that financial experts are now saying much of this cost-of-living pain could and should have been avoided.
Reporter: Tara Brown
Producers: Hannah Bowers, Lisa Brown
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