Australia news live: treasurers to discuss cost-of-living crisis, no Chinese spy balloons over Australia, defence says

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Jim Chalmers will meet his state and territory counterparts today as the RBA releases its latest statement on the direction of interest rates

Good morning and welcome to our rolling coverage of the Australian news day. I’m Martin Farrer, bringing you the main overnight breaking stories before my colleague Natasha May takes the reins.

We have a cracking exclusive story this morning about how the former energy minister Angus Taylor asked his department to consider delaying telling voters about electricity price rises before the May election, then made the decision to do so anyway. He later claimed he didn’t know about the rises. And it turns out Scott Morrison and Josh Frydenberg were in on the plan as well.

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