Politics live: Spender says tax system ‘no longer fit for purpose’; Palmer vows to mail ads to all Australians as he announces run for parliament

Senator says he is ‘humbled’ by Wednesday leadership ballot after David Littleproud’s shock resignation. Follow updates liveGet our breaking news email, free app or daily news podcast‘There are developments this morning’: Chalmers on Iranian football teamWe’re getting a slightly bigger forward sizzle from the treasurer on how many people from the Iranian women’s football team have sought asylum in Australia.There are developments this morning that I’m reluctant to go into because Tony Burke, the minister, will be up later this morning to give people a proper sense of that … It is a tribute to their bravery and to the work of the officials and the ministers that we’ve been able to issue those five visas already. As I understand it, there are more discussions this morning and Tony Burke will have more to say about that later in the day.We’re seeing a lot of volatility play out on these global markets … We won’t be immune from that. We’re not complacent about it, but we’re also really well placed in Australia to deal with what’s coming at us from around the world.Clearly, we had an inflation challenge in our economy already and this risks making it worse. That’s clear. And we’ve been upfront about that. Continue reading...