The new Parliament opened this week after a long break. That means we’re back to business: Question Time debates, Senate inquiries, and a lot of speeches.

It might sound boring, and it can be. The new Labor MP David Moncrieff captured the mood in his first speech: “Most Australians do not spend their days thinking about politics, and that is not a bad thing”.

It’s my mission to keep you up to date on important decisions made in the halls of power that impact your otherwise busy life!

Parliament is currently debating some measures that will impact the lives of younger people.

Here’s your rundown of what’s going on and how it will affect you.

On 3 May, Labor won a landslide election victory.

With Parliament returning this week after a lengthy winter break (79 days, I was counting), it was the first time the election results came into full view.

Labor holds 94 out 150 seats in the House of Representatives. The chamber, as pictured below, is now dominated by red.

Two key leaders are noticeably absent in the 48th Parliament: the Coalition’s Peter Dutton and Greens MP Adam Bandt, who both lost their seats (and leadership of their respective parties) at the election.

Sussan Ley has become the first female Leader of the Opposition.

The new Parliament has almost achieved gender parity. Women make up 112 MPs and Senators, while there are 114 men.

Female representation in federal politics has nearly doubled since 2011, when there were 64 women in Parliament, compared to 162 men.

We’ve also seen the youngest-ever Senator walk onto the chamber’s red carpet – Charlotte Walker – who celebrated her 21st birthday on election night.

However, observers would note the lack of racial diversity in Parliament (particularly in the senior ministry ranks of the Cabinet and Shadow Cabinet).

During the election, Prime Minister Anthony Albanese repeatedly promised to legislate a 20% HECS discount as Labor’s first priority in the new Parliament.

Shortly after 9am on Wednesday, (following Parliament’s first day of opening formalities on Tuesday), Education Minister Jason Clare got to his feet to table the HECS debt discount bill.

The legislation would increase the compulsory repayment threshold from around $56,000 to $67,000.

The Australian Tax Office (ATO) will automatically apply the discount once the legislation passes. Both the Coalition and the Greens have hinted they would support getting it through the Senate, where Labor doesn’t have a majority.

However, indexation took effect on 1 June – increasing debt balances in line with inflation (rising prices) by 3.2%

The HECS discount will backdate to the pre-indexation value of the debt.

For example – let’s take a $50,000 debt.

On 1 June, it went up to $51,600 due to indexation.

Once the HECS legislation passes, it will go down to $41,600.

How long will it take? Well, the PM Albanese told TDA the reduction should take effect by the end of the year.

Independent MP Dr Monique Ryan introduced an amendment to the legislation, telling TDA that she wants to adjust the date of indexation “so that people aren't paying interest on money that they've already paid back”.

Non-government amendments are harder to pass through, so it’s not likely we will see an instant change to indexation timings.

Picking up a Sunday shift or working overtime usually carries an important benefit for workers: penalty rates — extra pay for working during what unions call “anti-social hours”.

The top retail body, the Australian Retailers’ Association (ARA), applied to Fair Work to change the award for retail workers earlier this year. Its proposal has since been supported by major retailers including Kmart, Mecca, and supermarket giants Coles and Woolworths.

Awards are pay and conditions in a particular industry, such as retail or fast food. Roughly 2.6 million people are covered by an award in Australia.

Under the proposed changes, a retail or admin worker could accept a pay rise (around 25%) in exchange for giving up their entitlement to penalty rates and some rest breaks.

In response to this Fair Work case, Labor has introduced legislation to protect overtime and weekend pay rights.

If it passes, the legislation would require Fair Work to consider whether a worker’s overall pay would decrease as a result of losing penalty rates.

The Coalition is considering whether it’ll back the bill. Shadow Employment Minister Tim Wilson said he supports penalty rates, but is pushing the government to reveal the impact on small businesses.

The Government also addressed two important social and environmental issues that gained a lot of attention during Parliament’s long winter break.

The second piece of legislation introduced (immediately after HECS) related to childcare centre safety, following allegations levelled against Joshua Brown – a Melbourne childcare worker charged with 70 offences, including sexual abuse and producing child abuse material.

Federal subsidies worth around $16 billion cover 70% of the industry’s annual operating costs. Education Minister Jason Clare described restricting Government funding as the “big weapon” to enforce better standards. If childcare providers fail to meet national standards, they could lose access to these subsidies under the new legislation.

The Senate also set up an inquiry into South Australia’s algal bloom crisis, which has killed more than 14,000 marine animals since March.

Greens Senator Sarah Hanson-Young has pushed for the inquiry in her home state of SA, saying she wants answers for the affected “tourism and fishing industries, and our coastal communities”.

Labor and the Coalition broadly supported the inquiry.

We know this next Parliament will have some big ideas and reforms debated.

Labor has hinted at some of its other key priorities. For instance, it wants to double taxes on superannuation balances above $3 million.

The Government also flagged it wanted to ban ‘no-poach’ and ‘non-compete’ clauses when it handed down the federal budget earlier this year. These conditions stop workers from being hired by rival companies within a particular industry.

It’s not just Labor that gets to feel the rush of setting the agenda: Nationals MP and former party leader Barnaby Joyce will introduce what’s known as a “private members bill” (introduced by an individual, not a party) next week to scrap Australia’s commitment to net-zero.

These are just the big agenda items we know about; politics always has curveballs and surprises.

Don’t forget, when politicians talk about spending, they’re spending your money. When they talk about policy, these are changes that could impact your life.

This week, I’m heading to Canberra to ask politicians about what policies they’re hatching and how they’re planning on spending taxpayer money.

Got a question you think I should ask them? Send your ideas via our Instagram DMs, or email us at [email protected].

Or, if this newsletter was enough politics for your weekend, then thank you for your ✨attention✨.

30% Off James Lane’s Cult Faves? Yes, Please.

James Lane - aka Australia’s interiors darling - is offering 30% off storewide for a limited time.

That’s your cue to finally snap up that Riley Chaise, Eden Bed, or Haven Sofa you've been eyeing. Think timeless design and serious comfort - now with a major discount.

The sale ends July 30, so don’t sleep on it.