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After a decade of failed policies and inaction to address housing affordability, the Liberals have reaffirmed their commitment to forcing workers to raid their superannuation to access housing and have now indicated that they will make every cent of workers retirement savings available at auction which will further inflate house prices.

This is an act of compounding bastardry.

The Liberals would once again as they have with other universal entitlements when they have had the determination to do so pull the generational ladder out from under young Australians.

Peter Duttons plan for the housing market is to make this generation of first-home aspirants choose between a dignified retirement and a house, a choice he did not have to make himself.

This will supercharge house price growth. Every first-home buyer would be forced to raid their super just to remain competitive if all of their competitors are tapping their super balances too. This policy is absolutely salivating to property developers, boomer property investors, and the banks who will get to write ever-increasing mortgages with this generation.

In an auction where everyone is bidding with their super, the only winner is the seller.

The Liberals policy robs workers of the magic of compound interest to enjoy in retirement. Workers, with their unions, fought for universal superannuation alongside an adequate age pension to ensure every worker not just the wealthy and management had a pool of retirement savings that maintained their income and standard of living into retirement.

A report by the Super Members Council this year found that forcing first-home buyers to raid their super savings could force median prices in the five biggest Australian cities to increase by $75,000. If a couple of 30-year-olds withdrew $35,000 in super for a house today, they can expect to retire with $195,000 less in todays dollars.

If the Liberals have their way, their policy would also widen the gender gap in retirement savings and disproportionately harm working women, who already retire with $136,000 less in superannuation over their working lives, according to a 2023 report by The Australia Institutes Centre for Future Work.

This thoroughly bad policy wouldnt just rob the workers who are forced to drain their super for a deposit, it would cripple the retirement returns of every worker in Australia. The preservation of superannuation for retirement is a core reason why superannuation funds have been able to get phenomenal returns for everyone and why super funds generate better rates of return than banks.

The fact that superannuation funds do not have to have cash on hand for them to use at any moment means they can invest for the long term. This means that rather than investing in something for a short-run return, they can build and generate returns from nation-building infrastructure like roads, property and airports. If superannuation funds are required to have the cash on hand to pay out their members for a house deposit, the capacity for workers to benefit from compound interest is completely diluted.

Every aspect of this generates harm and perpetuates the problems it purports to solve.

It doesnt make houses more affordable it makes them more expensive.

It doesnt help first-home buyers get a house it just makes them drain their super for houses that might have otherwise been cheaper.

It makes those who drained their super poorer in retirement by hundreds of thousands of dollars.

It makes every worker in Australia poorer by smashing the ability of super funds to invest.

It is clear that this policy, promulgated by one-note anti-super ideologue Andrew Bragg, is designed to undermine the super system.

Setting the housing market on fire will do nothing to help people buy a house. It is clear we need additional supply of housing to make houses and rents more affordable. Building more housing, including social, affordable, and public housing, will make housing more affordable. This can also be facilitated by taking the handbrakes off supply, which is a meaningful step forward.

We need better rights for renters, so they arent subject to excessive rent increases and have more secure housing. And we need to ensure theres a fair level of Rent Assistance for retirees and those out of work to alleviate rental stress.

Combined with more secure jobs and higher wages, an evidence-based housing policy will mean more workers will get access to permanent housing and affordable rents.

A policy distractions like the one Dutton is tying himself to is yet another example of a policy that doesnt work for working people, but does work for landlords, property investors and the big banks.

Joseph Mitchell is assistant secretary of the ACTU, and a former organisation political director and policy officer, as well as working with the Innovation and Growth Taskforces

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Liberals' plan to destroy super will drive up house prices - The New Daily

Drea de Matteo, an actress of The Sopranos fame, says people in Hollywood are too petrified to disagree with liberals on social issues because of the current political climate with President Joe Biden in office.

As part of a discussion with Donald Trump Jr. on his Triggered podcast, the Emmy winner quipped about how she is so liberal that she is conservative in todays politics and there are so many in the industry who share her views.

The Biden administration has tried to perpetuate a bulls*** message of unity and has used social issues as pawns to further their administration, which Matteo said did nothing but divide people.

This administration has just been hammering all of these things and people in Hollywood are petrified, she continued. What, are you going to speak out against race, and sex, and all of that stuff?

Matteo added, People are afraid to have those conversations, because first of all, you never win with a liberal. Youre just never gonna win.

By contrast, Matteo suggested to Trump Jr. that his father, former President Donald Trump, shares her apathy for the very social issues being used to stoke disharmony across the United States.

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I think he cares about whats really going on, which is behind the scenes, and those are the things that need to be addressed before anybody is going to have freedom with any social issues, she said.

The actress indicated that she would not be as outspoken if her personal experience had been different.

I really did want to fight, but I didnt think I had, A, the voice, B, the balls, Matteo said, adding how she kind of got thrown to the wolves, I felt like, and once I was out there, I was like Im out here, what am I going to do? Im out of my cage.

Matteo also talked about her support network.

I do feel like Im supported, you know, by my boyfriend I know this sounds crazy, but, by God, my children. My children they believe in what we believe in, which is freedom and unity the right way.

Read more here:
'Sopranos' Actress Says People In Hollywood Are Too 'Petrified' To Cross Liberals On Social Issues - The Daily Wire

Quantum computers do not work like traditional computers. Instead of using microscopic transistors, which can represent either ones or zeros, they use particles known as qubits.

Unlike transistors, qubits can exist in multiple states at a time, allowing them to perform different types of calculations. The theory of quantum entanglement allows many qubits to be linked, allowing for an even larger number of computations.

Traditional computers are more or less limited by the laws of classical physics; quantum computers are not.

There are several ways to make qubits, and popular methods include using trapped ions or particles within superconductors.

PsiQuantum believes the best approach is using individual photons as qubits, by manipulating single particles of light. While this is among the most difficult methods of quantum computing, PsiQuantum made a bet that it was ultimately the most practical for large scale quantum computers because of the existing infrastructure built around photonics.

It has partnered with one of the biggest semiconductor manufacturers in the world, Global Foundries, to produce photonic computers with enough fidelity to work with individual photons.

Another major advantage of using photons as qubits is that photons can operate at room temperature. Most other supercomputers require extremely cold temperatures, making them impractical at scale.

PsiQuantums method still requires refrigeration, but not nearly as much as other methods. As a result, it plans to build its quantum computers inside cryogenic cabinets built by a company that makes meat lockers.

Those units are then networked together to increase the total number of qubits. By the end of 2027, PsiQuantum plans to have a quantum computer with 1 million qubits. The largest quantum computers today have about 1,000.

With 1 million qubits, PsiQuantum believes it can perform error correction, essentially making up for mistakes made by the qubits. Traditional computers also require error correction, but in the case of quantum computers, the majority of qubits are used for this task. Shadbolt said that sucks, but thats tough luck.

Networking the refrigerated units together was another hurdle for PsiQuantum. It needed to achieve a breakthrough in photonic switching, essentially sending photons back and forth with an unprecedented amount of fidelity, allowing very few photons to escape.

PsiQuantum revealed some of how it has achieved this in a paper that appeared online Friday.

Read more:
Australia bets on US startup that aims to build the first massive quantum computer - Semafor

The Australian government has announced a pledge of approximately A$940 million (US$617 million) to PsiQuantum, a quantum computing start-up company based in Silicon Valley.

Half of the funding will come from the Queensland government, and in exchange, PsiQuantum will locate its planned quantum computer in Brisbane, with a regional headquarters at Brisbane Airport.

PsiQuantum claims it will build the worlds first useful quantum computer. Such a device could be enormously helpful for applications like cracking codes, discovering new materials and drugs, modelling climate and weather, and solving other tough computational problems.

Companies around the world and several national governments are racing to be the first to solve the quantum computing puzzle. How likely is it Australias bet on PsiQuantum will pay off?

Quantum computers are computers that run quantum algorithms. These are step-by-step sets of instructions that change data encoded with quantum information. (Ordinary computers run digital algorithms, step-by-step sets of instructions that change digital information.)

Digital computers represent information as long strings of 1s and 0s. Quantum computers represent information as long lists of numbers. Over the past century, scientists have discovered these numbers are naturally encoded in fine details of energy and matter.

Read more: Hype and cash are muddying public understanding of quantum computing

Quantum computing operates fundamentally differently from traditional computing. It uses principles of quantum physics and may be able to perform calculations that are not feasible for digital computers.

We know that quantum algorithms can solve some problems with far fewer steps than digital algorithms. However, to date nobody has built a quantum computer that can run quantum algorithms in a reliable way.

Researchers around the world are trying to build quantum computers using different kinds of technology.

PsiQuantums approach uses individual particles of light called photons to process quantum data. Photon-based quantum computers are expected to be less prone to errors than other kinds.

The Australian government has also invested around A$40 million in Sydney-based Silicon Quantum Computing. This company aims to encode quantum data in tiny particles trapped in silicon and other familiar materials used in current electronics.

A third approach is trapped ions individually captured electrically charged atomic particles, which have the advantage of being inherently stable and all identical. A company called IonQ is one taking this track.

However, many believe the current leading approach is artificial atoms based on superconducting circuits. These can be customised with different properties. This is the approach taken by Google, IBM, and Rigetti.

There is no clear winning technology. Its likely that a hybrid approach will eventually prevail.

The timeline set by PsiQuantum and supported by federal endorsements aims for an operational quantum computer by 2029. Some see this projected timeline as overly optimistic, since three years ago PsiQuantum was planning to meet a deadline of 2025.

Progress in quantum technology has been steady since its inception nearly three decades ago. But there are many challenges yet to overcome in creating a device that is both large enough to be useful and not prone to errors.

The announcement represents a significant commitment to advancing quantum computing technology both within Australian borders and worldwide. It falls under the Albanese governments Future Made in Australia policy.

However, the investment risks being overshadowed by a debate over transparency and the selection process.

Criticisms have pointed to a lack of detailed public disclosure about why PsiQuantum was chosen over local competitors.

Read more: Australia may spend hundreds of millions of dollars on quantum computing research. Are we chasing a mirage?

These concerns underscore the need for a more open dialogue about government spending and partnership selections to maintain public trust in such large-scale technological investments.

Public trust is difficult to establish when little to no effort has been made to educate people in quantum technology. Some claim that quantum literacy will be a 21st-century skill on par with digital literacy.

Australia has made its quantum hardware bet. But even if the hardware works as planned, it will only be useful if we have people who know how to use it and that means training in quantum theory and software.

The Australian Quantum Software Network, a collaboration of more than 130 of the nations leading researchers in quantum algorithms, software, and theory including myself was launched in late 2022 to achieve this.

The government says the PsiQuantum project is expected to create up to 400 specialised jobs, retaining and attracting new highly skilled talent to both the state and country. The media release also contains the dramatic forecast that success could lead to up to an additional $48 billion in GDP and 240,000 new jobs in Australia by 2040.

Efforts like the Sydney Quantum Academy, the Australian Centre for Quantum Growth, and my own quantum education startup Eigensystems, which recently launched the Quokka personal quantum computing and quantum literacy platform, will help to meet this goal.

In the coming decade, education and training will be crucial, not only to support this investment but also to expand Australias expertise so that it may become a net exporter in the quantum industry and a substantial player in the global race for a quantum computer.

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Australia just made a billion-dollar bet on building the world's first 'useful' quantum computer in Brisbane. Will it pay off? - The Conversation

The Japanese government has announced plans to expand export restrictions on technologies related to semiconductors and quantum computing.

According to a Bloomberg report, impacted technologies include scanning electron microscopes and gate-all-around transistors, which companies including Samsung Electronics have been using to improve semiconductor design.

The report added that the Japanese government will also start requiring licenses for the shipment of quantum computers and cryogenic CMOS circuits, which are used to control the input and output signals of qubits in quantum computers.

Favored trading partners of Japan, including South Korea, Singapore, and Taiwan, will not be exempt from the new rules, which are expected to come into force in July following a period of public consultation.

At the start of 2023, it was reported that Japan, alongside the Netherlands, had agreed to comply with a number of US-led restrictions relating to the exportation of high-tech chipmaking technology to China.

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Japan to expand export restrictions on semiconductor and quantum computing technology - DatacenterDynamics