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Tonight - fighting words,

amid more gloomy

forecasts. Together we are

going to meet it and defeat

it. Jumpstarting the car

industry, with funds to clear

the road ahead. Put our

shoulder to the wheel in

fashioning a new car plan for

the fewer. But there'll be no

free rides for NSW MPs. I don't

think it's reasonable that we

make changes to the school bus

pass system without also

getting our own house in order.

Good evening, Juanita Phillips

with ABC News. The economic

numbers don't get any better.

In fact, they're getting worse.

The Reserve Bank today dropped

its forecast for growth and it

seems there's plenty of

evidence to support that

outlook. Over the past year,

new home loans have taken their biggest tumble in a decade.

The Government says it's

looking at every sector

affected by the financial

crisis to meet and defeat it.

Political Editor, Chris

Uhlmann. Regular servicing

ensures smooth running. I don't

feel so bad now. The Reserve

bonnet of the Australian Bank's latest peek around the

economy shows it's spluttering. The global

financial crisis is impacting

on the real economies of all

developed and developing

economies. The bank's increasingly sombre about

growth this financial year,

cutting expectation s to 1.5

between its last statement on

monetary policy and today's.

The figure's lower than

Treasury's projection of 2%, because Treasury's recently taken to assuming interest

rates will fall. The Reserve

assumptions about Bank obviously can't make any

assumptions about future

movements in interest

rates. The bank says

Australia's terms of trade have

peaked and commodity prices are

on the way down. That's going

to subtract a lot from our

national income. There are more

gloomy numbers on housing. The

number of home loans taken out

in September fell 2.7%. Across

Australia, the 12-month decline

equated to over 27%, which is

huge. It's the biggest slump we've actually had since the

start of this decade. The

Government's hoping a Chinese

stimulus package worth over

$800 billion will help keep

Australia ticking. I regard

that as very good news for this

economy. All the bad news on

the economy's buried a piece of

diplomatic intrigue. How did

the details of a conversation

between the Prime Minister and

George Bush end up on the front

page of the 'Australian'? Will

the Prime Minister assure the

House that neither he nor any

person in his office disclosed

any of the details? When do we

get the apology from the

Liberal Party for them

describing Barack Obama's

victory as a victory for

al-Qaeda? That wasn't the question.

Taxpayers will pour more than

$6 billion into the troubled

car manufacturing industry.

The Prime Minister today laid

out a plan for the future aimed

at saving the industry and

encouraging it to make cleaner

greener cars. Kevin Rudd says

it's not a blank cheque and

carmakers will have to step up

to the challenge. The Prime

Minister was leaving no-one in

any doubt today. He wants

Australia to continue making

cars. I believe in

manufacturing, I believe in the

car industry, I believe in the

200,000 jobs which are supported directly and

indirectly by the industry. The

Government's response to a

review by the former Victorian

Premier Steve Bracks includes

$6.2 billion in assistance over

the next 13 years - more than

half of this is new funding. A

renamed assistance scheme will

be more focussed on research

and development. There's a big

increase in support for green

cars and there'll be incentive

for mergers in the components

sector. Kevin Rudd says the

package isn't about propping up

a failing industry. The way in

which this assistance is

structured is it's provided in

response to actual investments

and commitments by the car

companies on the ground. This

announcement today is a very

strong vote of confidence in the future of the Australian

automotive industry. The tariff

on imported cars will halve to

5% in 2010, despite protests

from carmakers and unions.

Overall the AMWU supports

today's plan but says Australia

must get a better deal out of

scaling back protection. We

will make sure that when we negotiate future trade agreements we are actually

removing all tariff and

non-tariff barriers. Ford

employees ending their shift

today had mixed views. Pretty

good I suppose, if it helps

out. No good. Why's that? They

must freeze the tariff. The problems besetting local

manufacturers aren't limited to

Australian shores. The US

parent companies of Ford and

Holden are fast running out of

money and are themselves

seeking Government help. The

Government says it's a

long-term plan, but they're not

saying there won't be more jobs

pain along the way. Like

Australia, China is trying to

spend its way out of economic

trouble. The government there

has come up with an $800

billion stimulus package. As

well as a big shot in the arm

for major infrastructure

projects in China, there'll

also be a cash injection for

the steel industry, all of

which could have benefits for

Australia, too. China

correspondent, Stephen

McDonnell reports. The already

huge Chinese economy is about

to receive a very big stimulus

package. $826 billion will be

spent over the next two years

in order to keep the economy

humming along. Government

infrastructure spending,

including that on water,

electricity and transport, will

be brought forward. And credit

conditions on banks will be

loosened to make lending easier

for priority

projects. TRANSLATION: I think

it's highly possible it'll be

successful. China's determined

to make big changes. China's

double digit economic growth

recently slipped to 9%. Less

manufacturing meant less steel

production. Less steel

production has meant less need

for Australian iron ore. I

think from Australia's

sign that the perspective it's a very welcome

sign that the Chinese are

trying to support their economy

and in turn, global growth. The

rebuilding of

earthquake-destroyed areas is a

key plank in the economicess

cue plan. Schools, bridges,

roads and factories will be constructed, as well as new

railway lines. But all over

the country, the Government is

hoping it can boost local

demand to make up for lost

exports. According to official

figures, the Chinese Government

has a whopping surplus so it

can spend money to keep growth

high. This package is said to

be the equivalent of one-third

of China's fixed asset

investment from last year.

It's massive spending by any

measure. Crucially, the

Chinese Government believes

that it needs to keep economic

growth high in order to

maintain social stability and

its own credibility. NSW,

though, is in no position to

spend its way out of anything. Instead, the State Government

is taking the slash and burn

approach. Its mini-budget will

be delivered tomorrow, in

deficit, and with big cuts.

Today, the Premier announced

that MPs would bear some of the

pain, too. A schoolyard chat

has revealed the Premier's

weakness. Probably maths.

Maths, OK. Always a weak one

for me. Maths may not be his

strength but the Government's

additions and subtractions will

be tested tomorrow when it

hands down what's tipped to be

a horror mini-budget. Families

will have to bear the extra

cost of school transport and

business is worried about

higher taxes. There will be a

deficit for the first time in a

decade, and it will be big.

But Nathan Rees says the State

won't slip into a recession. The Australian

economy generally and the NSW

economy in particular are in

the face of what's going on in countries elsewhere, are

actually doing OK. Barry

O'Farrell says Labor has run

the State into the ground. NSW

hasn't been the premiere State

for well over a decade. Today

there was good Budget news, an

extra $150 million funded from borrowings for school

maintenance. The Premier's

also put an end to the MPs'

gold pass that gives them free

travel on public transport. I don't think it's reasonable

that we make changes to the

school bus pass system without

getting our own house in

order. But getting Labor's

house in order is a big job and

Nathan Rees can't escape the

latest ministerial scandal.

Fresh allegations have emerged

relating to the behaviour of the Small Business the Small Business Minister,

Tony Stewart. He's been stood

aside, facing allegations he

bullied a former female staff

member. Mr Stewart's told the

Premier that's not true. But

The Greens have referred new allegations to the Independent

Commission Against Corruption

from two former police officers

alleging intimidation. They've

also had a complaint from

another former female public

servant. She also raised that

she felt intimidated in terms

of comments that Mr Stewart

made about material that she

had prepared. A Sydney

barrister is investigating the

minister's conduct. He's on

leave and hasn't responded to

requests for a comment. We

execution of the Bali bombers

over, the focus has now turned

to the fate of the three

Australians on death row.

Australians on death row. The

bombers were shot by firing

squad yesterday and Indonesia

says it is consistent in

applying the death penalty. At

the same time, it says the

Australians still have some

legal options left and the case

is not over yet. From Bali

Indonesia correspondent, Geoff

Thompson. They were evil for

most and heroes to some.

Either way, the dead and buried Bali bombers have

Bali bombers have been silenced

forever. But more voices are

being heard from those who

witnessed the terrorist s last

moments alive. The three

convicts were not blindfolded

during the execution at their

request, revealed the

Attorney-General's spokesman,

Jasman Pandjaitan. Witnesses say Mukhlas say Mukhlas was shouting "Allahu Akbar" or "God is

Great" up until the moment he

died. The once grinning Amrozi is said to have been the least

brave of the three. Described

as " pale and afraid" before a

firing squad. Hardly

surprising, when staring death

in the face, as three members

of the Bali Nine now on death

row may be forced to do one

day, too. They're definitely

anxious. Whenever an execution is looming, it is looming, it causes real stress and tension for

everybody involved - families,

clients, lawyers. Indonesia's

Foreign Minister, Hassan

Wirajuda, has said the bombers' executions show Indonesia is

consistent in applying its

existing laws. But he says

Scott Rush, Andrew Chan and

Myuran Sukumaran can apply for

more appeals and clemency. Although Indonesia

has its own laws, nevertheless

the case for the Australians

remains open and is before the

courts and will be treated on

its merits. The Australian

Government says it continues to

receive credible information

that Bali remains an attractive

target for terrorists and the

Government advises school

levers and other Australian

tourists already here to

exercise heightened

caution. And to avoid those places which have been targets

for terrorist attack in the past, in particular

past, in particular bars,

beaches, shopping malls and the

like. In Bali, that only leaves

a choice between staying in

your hotel or walking down the

street. The Governor-General

has been moved to tears while

visiting a mass grave of World

War I diggers in northern

France. Quentin Bryce

travelled to the village of

Fromelles where the remains of

Australian and British soldiers

were uncovered earlier this

year. They'll be reburied

there with full honours as the

site becomes an official war

cementry. As Phillip Williams

reports, the visit is part of commemorations marking the end

of the great war 90 years ago. When the Governor-General

arrived her first call was the

local church. A solitary rereflection of the bravery rereflection of the bravery

here at Fromelles. Across the

road, this is the paddock that

will become the first cemetery

for World War I soldiers since

the 1920s. It's produced issues

for government, but the end

result I think will be a very

fitting tribute to those who

gave everything for their

country so long ago. Down

through the muddy fields, the

Governor-General was taken to nearby Pheasants nearby Pheasants Wood, the

place where the bodies of the

Australian and British soldiers

were found, where they'd been

buried by the Germans way back

in 1916. Deeply affected by

the moment, the

Governor-General paid her

respects. Her second day in

these battlefields. Then she

was taken a short distance away

to the Cobbers' Memorial. The

sculpture marks the bravery of

the diggers who risked their

lives to carry back their dead

and wounded mates after their

terrible battle. Oh, they stand

for so much. I think what

comes first to mind for me is

the way they signify the very

finest human value, which is

courage. I'm very touched and

impressed and like all of you,

I'm sure, deeply affected by

what we've been observing here today. Before leaving

Fromelles, the Governor-General

had one more stop - this time

at VC corner. The names of

lost Australian soldiers

honoured here, a simple poppy

the most poignant flower of

all. This is one part of Australia's World War I Australia's World War I story

and more and more Australians

are appreciating the enormity

of the sacrifice here on what

was the Western Front more than

90 years ago. Tonight's top

story - as the Reserve Bank

warns of tougher times ahead,

the Federal Government

announces a $6 billion rescue

package for the car industry.

Still to come - no charges, but

big fines for three

big fines for three Brisbane

Broncos at the centre of sexual

assault claims.

An accident on a brand-new

Russian nuclear submarine has

killed at least 20 people. The

fire safety system was turned

on by mistake during trials in

the Sea of Japan. The victims

were suffocated by fire-extinguishing gas. There

were over 200 people on board were over 200 people on board

at the time. Many of them

civilians involved in the

trials. Military prosecutors

have launched an

investigation. TRANSLATION: A

criminal case was opened on the

violation of the rules of

navigation and use of Navy

ships that unintentionally led

to the death of human beings

and other brave

consequences. It's Russia's

worst submarine disaster since

the nuclear-powered'Kursk' the nuclear-powered'Kursk' sank

in 2000, killing all 118 people

on board. One of

Christianity's holiest sites

has witnessed some unholy

behaviour. Greek Orthodox and

Armenian priests have traded blows in the Church of the Holy

Sepulchre in Jerusalem. The

church is revered as the site

of Christ's crucifixion and is

often the subject of a turf war between rival Christians. between rival Christians. This

brawl erupted during the

Armenian Feast of the Cross

ceremony. The Greeks have tried

so many times to put their mark

inside the tom b, but they

don't have the right to put

their mark inside the tom b

when the Armenians are

celebrating the feast. We have

tried our best not to use

violence against the police or

against the Armenians. Because

this is our... Two clergymen

were arrested. It's not the

first time that Israeli riot police have been called to the

church. The future is still

uncertain for thousands of

child care workers, despite

talks today between unions and

the receivers for ABC Learning.

The union says it now has The union says it now has a

guarantee that the 12,000 staff

will be paid until the end of

the year, but that's all it's

got. The big question that's

still outstanding is what is

going to happen on 31 December

or thereafter? There's still a big question about what is

going to happen to this large

number of centres that are

deemed potentially

unviable. ABC Learning was

placed in voluntary

administration last week. It

operates 1100 centres caring

for 120,000 children. The

Government has offered $22

million to keep the centres

open until the new year. The

receiver is expected to report

back next month. Onto finance

now, and resources stocks led

the local sharemarket higher

today because of the big

Chinese stimulus package, but

banks were hit hard by a capital-raising venture capital-raising venture planned

by the NAB. Here's Alan

Kohler. It was a tale of two

markets today. The massive

spending package in China

boosted all the resources

stocks with Rio Tinto up 8%,

Woodside 3.5%, while banks were

slammed with CBA and Westpac

both down 5%. That was after

the NAB announced it was

raising $2 billion in new

capital, which it

capital, which it upped to $3

billion during the day. The

feeling was that NAB was

getting in early to beat the

rush and all the banks would be

looking for new capital in the

months ahead to prepare for a

downturn. Last week we saw

some of them Allco and ABC

Learning. Today's rise keeps

the All Ords around the 4,000 mark where it's mark where it's been for a

month. So a new plateau was

formed. That's 20% lower than

the last one which ended with

the collapse of Lehman Brothers

in mid-September. That cost us

about $350 billion. It's

resulted in another downgrade

to the Reserve Bank's growth

forecast for Australia. This

graph shows how the RBA has

become progressively gloomier

over the past 12 months. First

here's its August '07 forecast,

then February '08, May '08,

August '08 and today's latest

one, November '08 and note

although the 2009 trough keeps

getting deeper, the end port

stays roughly the same, except

with sharper V shapes on the

graph. So the RBA brains trust

are hanging on grimly

are hanging on grimly to their

long-term optimism.

There'll be no charges laid

against three Brisbane Broncos

at the centre of sexual assault

allegations. Karmichael Hunt,

Sam Thaiday and Darius Boyd

have been under investigation

since a complaint was lodged almost two months ago. While

police say there's insufficient

evidence to prosecute the

players, they've still been

punished by their club.

They've been find $20,000 each

for bringing the game into

disrepute. Karmichael Hunt and

Darius Boyd were solid

performers in last night's

convincing win by Australia over Papua New Guinea in the

World Cup. Today, they found

out they won't face sexual

assault charges and neither will Broncos'

will Broncos' team-mate, Sam

Thaiday. Our officers have

found insufficient evidence to

charge any person in relation

to the allegations made. The

three players have been

questioned over an alleged

incident at this Fortitude

Valley nightclub in September.

A woman told police she was

sexually assaulted by three men

in a toilet. We haven't said

there's a lack of evidence.

What we have said is there was

insufficient evidence. Clearly

in any matter of this nature,

consent is a primary

issue. Despite the ruling,

Broncos' management has taken a

strong stance. I've advised the

players they'll each be fined

$20,000. Their actions have

brought the club and the game

into disrepute. Under their

contract and our code of

conduct that attracts a

fine. And several sponsors have

pulled the plug on the

players. I can guarantee that

in at least two cases in at least two cases that will

cost the players in excess of

$60,000. The three players will

have to undertake acceptable

social behaviour counselling

and have been put on notice

that this is their last chance.

The investigation took almost

two months and was reviewed by

a senior counsel. I think they

were very, very stupid. Police

have also cleared the Broncos

over allegations of possible

drug use. India is

drug use. India is close to

reclaiming the trophy on the

final day of the fourth cricket

Test. Matthew Hayden's

dismissal for 77 ended the

tourists' hopes and India is

poised for a 2-nil series win.

The Australian team returns

home tomorrow night where

captain Ricky Ponting is

expected to face more scrutiny

over yesterday's bowling tactics. Here's Peter Wilkins.

With the game to be won, Ricky

Ponting used part-time bowlers

to speed up a flagging over

rate and to nullify the threat

of a personal suspension.

COMMENTATOR: Oh dear me. That

engendered ridicule... Would

you be worried facing this bowler? And contempt from a

former captain. The Australians

have clearly lost their focus.

They're worried about over

rates instead of getting people

out. Australia was in control

after consecutive wickets from

Jason Krejza. Yes

Jason Krejza. Yes indeed. And the run-out of Sachin

Tendulkar. India was 6 for 166

before Ponting's generosity. At

the end of the day, he's got a

responsibility to ensure we're

bowling the overs we have to

bowl. There's no way India can

come out tomorrow and bowl 20

overs because they feel we're

going well. I was taken aback.

One thing Australia's always

done is put before team before the

the individual. MS Dhoni and

Harbhajan Singh engineered a

381-run lead, Jason Krejza's

12-wicket haul the fourth best

on debut swallowed up in a sea

of criticism. Cricket

Australia will investigate.

There was a desperation in the

run chase which cost Simon

Katich and his captain their

wickets. Michael Clarke was

fortunate more than once before

luck ran out, while Matthew

Hayden's improvisation was

almost his undoing as Australia

passed 100, 3 wickets down.

Hayden bludgeoned his way to 70

losing partners before his own

wicket. Australia's hopes of

redemption dissipating at every

turn. Andrew Symonds' exile

from national team duties for

disciplinary reasons is over.

He'll play a Twenty20

exhibition on Friday night. If

I make another mistake it's not

going to be a pretty going to be a pretty

ending. It's becoming too much

for Newcastle Jets coach Gary

Van Egmond. A late penalty he

saw as dubious helped bottom

club Perth Glory snatch a 2-all

draw. The result left

defending champions 4 points

adrift of the leading bunch and

put the coach on a collision

course with match officials and

Perth players.

COMMENTATOR: It's getting ugly

again. The FFA has given him 48

hours to respond to a charge of

bringing the game into

disrepute. The Kangaroos

juggernaut rattled on in the

tropics. Papua New Guinea held

an understrength side to a

respectable score. The romp

included three tries to the Sea

Eagles flyer David Williams,

one of four Australian Test

debutantes. The Kangaroos'

next opponent in Sunday's semifinal will be either Fiji

or Ireland, who play off on the

Gold Coast tonight. It's

little wonder Venus Williams

was all smiles. She just won

more than $1.5 million after

fighting back from a set down

against Russia's Vera Zvonareva

in the WT end of season

championship. The win proved

Williams is still a force off

grass and lifted her past

Martina Navratilova into fourth

place on the all-time women's

prize money list. It's the

stuff of fairytales. A young stuff of fairytales. A young

dancer is plucked from the

ranks to become the Australian

ballet's prima ballerina. Then

she gets to perform in a

production written just for

her. Juliet Burnett got more

than three cheers on her 25th

birthday. She sprang onto the

Sydney Opera House stage as the

star of the show. I think it's

every dancer's dream to have a

role sort of tailor-made and

choreographed for you. She

dances the title role, one of

three new performances in the

Australian ballet's interplay

season. She was handpicked for

the lead. I think Juliet

Burnett has a huge potential

and I think this work has shown

us more of what she has to

offer. It's exciting when you

see a choreographer mould a

work around someone's

talent. The God jupter seduces

a mortal. The girl is tricked

by jupter's wife Juno into a

course of action that will

spell her doom. She's very ambitious and determined and

maybe to a point, a little

greedy. You know, just greedy. You know, just sort of

- it's not enough for her to be

bedding a God, she wants more

and she wants to see him in his

God-like form. Playing with

fire leads to her demise. But

for the dancer, this ballet has

only increased her appetite for

the spotlight. I'm still hungry

for more, so I'm going to keep

dancing until my legs fall

off. It seems Juliet Burnett

will be thrilling will be thrilling audiences for

a long time yet. Time to check

the weather now, and pretty

much clear sailing until the

end of the week.

Looking that way. Apart from

minor variations what you

experienced today will stay

much the same all the way

through till Thursday. That

means more of the same in

Sydney.

No significant cloud

approaching the State. This pattern will remain until

Thursday. Low cloud will

continue on and north of the

Hunter. The high over the

Tasman will strengthen and

maintain stable weather over

most of the State with the

trough in Western Australia set

to reach western NSW on

Thursday. Rain tomorrow will

be confined on and north of the

Hunter and it will affect this

region for the reminder of the

week.

Tonight's top stories again -

the Reserve Bank has lowered

its forecast for growth after mounting evidence that the

economy is cooling. The number

of new home loans last year was

at a 10-year low. The

Government is pumping more than

$6 billion into the struggling

car industry. The package

includes more than $1 billion

to help carmakers develop

greener models. And, the

Premier is clawing back some

cash to fill the State's budget

gap. Amid measures in

tomorrow's mini-budget, an end

to free public transport for

State MPs. That's ABC News for

this Monday. The '7.30 Report'

is up next, and I'll be back

with updates during the

evening. Goodnight.

Closed Captions by CSI

If this was Bondi Beach,

they'd be jumping up and down. Tonight on the 7.30

Report - ghostnets the

environmental hazard choking

Australia's coast. They're

catching marine turtles,

sharks, birds.

Welcome to the program, and

the political emphasis again

this week remains squarely on

the state of the economy,

global and local, with a

global and local, with a little

sideplay on whether Kevin Rudd

knows who leaked and alleged

content of his recent phone

conversation with George Bush.

While Treasurer Wayne Swan is

in Washington preparing for his

Prime Minister's attendance at

the important G20 summit on the

financial crisis at the end of

the week, the Prime Minister

himself was launching a pretty

hefty assistance package to

underpin the car industry back home. (600) 000-0000