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Australia

Interest rates: RBA raises cash rate by 50 basis points to 1.85 per cent

Interest rates: RBA raises cash rate by 50 basis points to 1.85 per cent

For the fourth consecutive month the Reserve Bank of Australia (RBA) has hiked interest rates as inflation runs rampant.

At 2.30pm during the RBA’s monthly meeting, it increased Australia’s interest rate by 50 basis points, or by 0.5 per cent.

The decision brought the cash rate from 1.35 per cent to 1.85 per cent, largely in line with economist’s predictions.

This marks the first time the RBA has lifted the rates for four months in a row since the introduction of the two to three per cent inflation target in 1990.

This follows last week’s increase in annual inflation, which hit 6.1 per cent, which was its highest level in 21 years since 2001.

Tuesday’s rate rise means those paying off the average home loan of $500,000 will need to cough up an extra $140 a month.

And the August hike isn’t expected to be the last, with economists forecasting that interest rates could peak up to two per cent by the end of the year.

As soon as news of the interest rate rise broke, Treasurer Jim Chalmers weighed in and acknowledged it was a tough time for Australian borrowers, saying the announcement would “sting”.

“It’s another difficult day for Australian homeowners with a mortgage,” he said.

“The independent ReserveBank has just announced its decision to increase interest rates by another 0.5 per cent, bringing the cash rate to 1.85 per cent.

“Australians knew this was coming, but it won’t make it any easier for them to handle.

This cycle of interest rate rises began before the election in response to inflationary pressures that began accelerating at the beginning of this year.

“Average homeowners with a $330,000 outstanding balance will have to find about $90 a month more for repayments as a consequence of this decision today, on top of around $220 extra in repayments since early May.

“For Australians with a $500,000 mortgage, it’s about an extra $140 a month, in addition to the extra $335 they’ve had to find since early May.

“As I said, Mr Speaker, this decision doesn’t come as a surprise. It’s not a shock to anybody, but it will still sting.

“Families will now have to make more hard decisions about how to balance the household budget in the face of other pressures like higher grocery prices and higher power prices and the costs of other essentials.”

‘Misleading’: Calls for bank boss to resign

Ahead of the interest rate rise, there were growing calls for the RBA’s board and its governor, Philip Lowe, to resign after a series of missteps.

Chief among them was the promise that interest rates wouldn’t rise until 2024 which one top economist said was “misleading” for borrowers.

Critics also pointed out that the rapid rate rises could inadvertently lead to a recession while at the same time inflation is running rampant.

Warren Hogan, chief economist at both ANZ and Credit Suisse, told The Daily Telegraph that the RBA was guilty of some “pretty bad errors” in recent months.

The RBA lowered the cash rate to 0.1 per cent at the end of 2020 amid the Covid-19 pandemic – the lowest it had ever been – and throughout the pandemic said they didn’t plan on raising the cash rates until 2024.

When it lifted the cash rate for the first time in May and then every month since, Mr Hogan said it was “misleading people, basically”.

He also said Australia’s central bank had taken on risky strategies including spending lots on insurance and sinking funds into a bonds program which had not paid off.

Mr Hogan, who was also the former principal adviser to federal treasury, said: “It’s unforgivable. I think they should resign – the whole board.”

Mr Lowe “should have the character to stand down,” Mr Hogan added.

RELATED: Find out how much the rate rise will cost you

Mr Lowe said the cash rate would remain at its record low of 0.1 per cent until at least 2024, but the rapid rise in inflation this year – caused in part by Russia’s war in Ukraine and supply chain issues on home soil – prompted the monthly hikes .

It comes as Australia’s cost of living crisis is worsening, making borrowers even more cash-strapped than usual.

In the last quarter, transport costs rose 13.1 per cent as the price of fuel rose to record levels for the fourth quarter in a row.

Meanwhile, grocery shopping is also causing hip pocket pain, with Australians outraged to find lettuce heads selling for $10 a pop and capsicums marked at $15 for a kilo.

Interest rates in Australia reached an all time high of 17.5 per cent in January 1990. Since then, they have averaged 3.93 per cent.

Before this year, the last time the RBA hiked up rates was in 2010. It has only been going down ever since.

As a result, more than one million home borrowers have never experienced an increase in mortgage rates, because they bought a home after 2010.

The official cash rate has been at a record low of 0.1 per cent since November 2020 in response to the Covid-19 pandemic until May 2022.

– with NCA NewsWire

Read related topics:Reserve Bank

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Business

China mocks Scott Morrison, Australia’s ‘arrogance’ after ACCC gas report

China mocks Scott Morrison, Australia's 'arrogance' after ACCC gas report

China has branded Australia “laughable”, mocking the Government and former prime minister Scott Morrison in the wake of a “damning” gas report.

The comments were made as part of a scornful article published by the CCP-controlled Global Times.

The piece mocks a suggestion that Australia could step in and help with supply of liquefied natural gas (LNG) to European allies impacted by the Russia-Ukraine conflict.

At the start of 2022, the then-prime minister Mr Morrison said his government was looking at options that would allow Australia to fill international demand for gas if Russia stops exporting to Europe.

“Awkwardly, some in Australia are now warning of a potential shortage in the country and urging to set aside gas for Australia’s own electricity network before selling to the rest of the world,” the Global Times article noted.

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On Monday, the Australian Competition and Consumer Commission’s (ACCC) gas inquiry 2017-2025 interim report warned businesses could shut down and there could be a record shortage of gas in the southern states next year unless something is done about the nation’s energy crisis.

The ACCC predicted a 56 petajoule shortfall in east coast gas supply by 2023, a figure it called a “significant risk to energy security” that was equivalent to 10 per cent of expected domestic demand.

China said the situation currently facing Australia was both “laughable and serious”.

“Laughable, because this reflects Australian officials’ overconfidence and arrogance in making empty promises it cannot deliver; serious, because a potential move could significantly affect already disrupted global energy supplies, given that Australia is known as one of the world’s top LNG exporters,” the newspaper noted.

Russia’s ongoing invasion of Ukraine has seen international demand for LNG soar, with Beijing claiming a decision from Australia to impose export restrictions could “hurt some of its European and Asian allies the most”.

The article blasted Mr Morrison for his “empty promises” for saying Australia will help its allies when they are in need.

“It is clear that a possible reduction in Australia’s LNG exports would further exacerbate the global energy crisis and push up prices, while increasing the energy anxiety in countries that used to see Australia as a reliable source of supplies,” the Global Times said.

“Some of its allies may also be annoyed by Australia’s inability to actually offer help in areas where it apparently has an advantage.”

The article noted that China has recently made efforts to diversify its energy imports following recent tensions with Australia, with Beijing last year signing new LNG contracts with the US instead.

However, the outlet assured readers that any decision by Australia would not “fundamentally undermine” China’s energy security.

Government reacts to ‘damning’ gas report

Australia’s Resources Minister Madeleine King branded the new ACCC report as “damning” of gas exporters after it found they were not engaging locally “in the spirit” of the heads of agreement.

“We remain concerned that some (liquefied) natural gas LNG exporters are not engaging with the domestic market in the spirit in which the heads of agreement was signed,” the report said.

“LNG producers will need to divert a significant proportion of their excess gas into the domestic market.”

Ms King said gas producers “know” the report is “damning for them”.

“The ACCC report is damning, no doubt about it,” she said.

“It sets out patterns and instances of behavior that are clearly not acceptable in an environment where we do have an international and domestic energy supply crisis.”

The ACCC described the outlook for 2023 as “very concerning” with gas prices likely to increase.

“The outlook for 2023 is very concerning and is likely to place further upward pressure on prices, which could result in some commercial and industry users no longer being able to operate,” the report said.

“It could also lead to demand having to be curtailed.”

This shortfall will mainly affect NSW, Victoria, South Australia, the ACT and Tasmania, where “resources have been diminishing for some time”, though Queensland may also be impacted.

– with NCA NewsWire

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Categories
Business

Egg shortage: Latest product to vanish from supermarket shelves

Egg shortage: Latest product to vanish from supermarket shelves

Australians are being hit with a national egg shortage, as consumers move towards free-range eggs amid rising production costs, extreme weather events and worker shortages.

Supermarkets across the country are back to implementing purchase limits, with farmers grappling to keep up with demand after they decreased their chicken numbers during lockdown.

Owner of Chooks at the Rooke, a free-range egg farm southwest of Melbourne, Xavier Prime told 3AW Radio that part of the problem was the cold weather that affected how often the birds laid eggs.

“Part of it is the time of the year as well.” he said.

“Free-range eggs, in that sort of space the birds are open to the elements, and with the daylight hours being shorter, that has a lot to do with how many eggs the chickens lay.”

Mr Prime said “to lay the optimum”, hens needs 15-16 hours of daylight every day, but at the moment they are experiencing just 10-11 hours.

A Woolworths spokesman said the scarcity of eggs was due to a production shortage on farms, with the cost of young hens laying eggs increasing by 20 per cent.

“The market-wide supply of locally produced eggs in some regions has recently been impacted by reduced production on a number of farms,” they said.

“While we continue to deliver eggs to our stores regularly, customers may notice reduced availability at the moment and we thank them for their patience and understanding.

“We’re in close contact with our suppliers and are working to increase the availability of eggs in stores as soon as possible.”

The supermarket giant has installed a two-carton limit in some stores.

Mr Prime said he hoped the supply shortages did not push consumers back to caged eggs.

But free-range eggs aren’t the only product Australian shoppers are being stripped of, with supermarkets reporting bare shelves for other household items such as chickpeas, lentils, lettuce, tissues and cold and flu tablets.

“We’re experiencing reduced availability across some of our lentil and chickpea products due to supply chain delays,” a Woolworths spokesman said.

The supply chain issues are a combination of the war in Ukraine, flooding and other extreme weather events on Australian shores.

Read related topics:Weather

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US

Drone explosion hits headquarters of Russia’s Black Sea Fleet

Drone explosion hits headquarters of Russia's Black Sea Fleet

Kyiv, Ukraine — A small explosive device carried by a makeshift drone blew up Sunday at the headquarters of Russia’s Black Sea Fleet on the Crimean Peninsula, wounding six people and prompting the cancellation of ceremonies there honoring Russia’s navy, authorities said.

Meanwhile, one of Ukraine’s richest men, a grain merchant, was killed in what Ukrainian authorities said was a carefully targeted Russian missile strike on his home.

There was no immediate claim of responsibility for the drone explosion in a courtyard at the naval headquarters in the city of Sevastopol. But the seemingly improvised, small-scale nature of the attack raised the possibility that it was the work of Ukrainian insurgents trying to drive out Russian forces.

A Russian lawmaker from Crimea, Olga Kovitidi, told Russian state news agency RIA-Novosti that the drone was launched from Sevastopol itself. She said the incident was being treated as a terrorist act, the news agency said.

Crimean authorities raised the terrorism threat level for the region to “yellow,” the second-highest tier.

Sevastopol, which was seized along with the rest of Crimea from Ukraine by Russia in 2014, is about 170 kilometers (100 miles) south of the Ukrainian mainland. Russian forces control much of the mainland along the Black Sea.

The Black Sea Fleet’s press service said the drone appeared to be homemade. It describes the explosive device as “low-power.” Sevastopol Major Mikhail Razvozhaev said six people were wounded. Observances of Russia’s Navy Day holiday were canceled in the city.

CRIMEA-UKRAINE-RUSSIA-CONFLICT-WAR
Russian Navy members patrol in front of the headquarters of Russia’s Black Sea Fleet in Sevastopol in Crimea on July 31, 2022.

STRINGER/AFP via Getty Images


Ukraine’s navy and an adviser to President Volodymyr Zelenskyy said the reported drone attack underlined the weakness of Russian air defenses.

“Did the occupiers admit the helplessness of their air defense system? Or their helplessness in front of the Crimean partisans?” Oleksiy Arestovich said on Telegram.

If such an attack is possible by Ukraine, he said, “the destruction of the Crimean bridge in such situations no longer sounds unrealistic” — a reference to the span that Russia built to connect its mainland to Crimea after the annexation.

Elsewhere in Ukraine, the mayor of the major port city of Mykolaiv, Vitaliy Kim, said shelling killed one of Ukraine’s wealthiest men, Oleksiy Vadatursky, and his wife, Raisa. Vadatursky headed a grain production and export business.

Another presidential adviser, Mykhailo Podolyak, said Vadatursky was specifically targeted.

It “was not an accident, but a well-thought-out and organized premeditated murder. Vadatursky was one of the largest farmers in the country, a key person in the region and a major employer. That the exact hit of a rocket was not just in a house, but in a specific wing, the bedroom, leaves no doubt about aiming and adjusting the strike,” he said.

Vadatursky’s agribusiness, Nibulon, includes a fleet of ships for sending grain abroad.

In the Sumy region in Ukraine’s north, near the Russian border, shelling killed one person, the regional administration said. And three people died in attacks over the past day in the Donetsk region, which is partly under the control of Russian-backed separatist forces, said regional Gov. Pavlo Kyrylenko.

Podolyak said on Twitter that images of the prison where at least 53 Ukrainian prisoners of war were killed in an explosion on Friday indicated that the blast came from within the building in Olenivka, which is under Russian control.

Russian officials have claimed the building was attacked by Ukraine with the aim of silencing POWs who might be giving information about Ukrainian military operations. Ukraine has blamed Russia for the explosion.

Satellite photos taken before and after show that a small, squarish building in the middle of the prison complex was demolished, its roof in splinters.

Podolyak said those images and the lack of damage to adjacent structures showed that the building was not attacked from the air or by artillery. He contended the evidence was consistent with a thermobaric bomb, a powerful device sometimes called a vacuum bomb, being set off inside.

The International Red Cross asked to immediately visit the prison to make sure the scores of wounded POWs had proper treatment, but said Sunday that its request had yet to be granted. It said that denying the Red Cross access would violate the Geneva Convention on the rights of POWs.

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Categories
US

Ex-Putin adviser Chubais reported to be in European hospital

University instructor charged in shooting death of student

Anatoly Chubais, who resigned as a high-ranking adviser to Russian President Vladimir Putin and left Russia shortly after the invasion of Ukraine, was reported to be in intensive care in a European hospital for a neurological disorder

Anatoly Chubais, who resigned as a high-ranking adviser to Russian President Vladimir Putin and left Russia shortly after the invasion of Ukraine, was reported to be in intensive care in a European hospital on Sunday for a neurological disorder.

Ksenia Sobchak, a Russian television personality and family friend of Chubais, said on Telegram that she had spoken with his wife, Avdotya, and that he was suffering from Guillain-Barre syndrome. She did not say which clinic he was in.

Guillain-Barre is a rare disorder in which the body’s immune system attacks the nerves. Sobchak said Chubais’ condition was “unstable,” but she quoted him as saying it was “moderate, stable.”

Although Chubais did not state his reason for resigning in March, it was presumed to be because of Russia’s invasion of Ukraine on Feb. 24.

His was the highest-level of a series of official resignations. Chubais had most recently been Putin’s envoy to international organizations on sustainable development. He is well-known in Russia, having held high-profile posts since the early 1990s, when he oversaw privatization efforts under Boris Yeltsin.

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Categories
Business

RLB forecasts emerging construction cost inflation will ease in 2023

RLB forecasts emerging construction cost inflation will ease in 2023

The rate at which construction costs are soaring – contributing to a spate of high-profile building company collapses – will ease next year, according to new forecasts from global consultancy firm RLB.

Construction cost inflation in Melbourne is forecast to halve, dropping from 8 per cent this year to 4 per cent in 2023, and in Sydney it is predicted to slow from 6.9 per cent to 3.9 per cent.

An even bigger decline is forecast for the Gold Coast with cost growth dropping from 11.5 per cent to 5.5 per cent. Similarly, in Brisbane it should drop from 10.5 per cent this year to 5.1 per cent in 2023, according to forecasts published this week in RLB’s second quarter 2022 International Report.

RLB research and development director Domenic Schiafone said the expectation that costing will ease through next year was due to curtailing demand, likely to be caused by inflationary pressures.

“This easing of demand should allow manufacturing and logistics to get back to ‘normality’ or pre-Covid levels,” he said.

“The easing of demand should also see a softening of material prices with the high level of ‘demand-led price premiums’ reducing.”

Association of Professional Builders co-founder Russ Stephens, whose clients are residential home builders, agreed to escalate costs could halve next year, but off a much higher base.

He said the cost to build a residential home had increased a lot more than non-residential or commercial builds due to the larger percentage of timber used, and that temporary price hikes created by supply and demand were not reflected in the reports we were seeing.

Australia’s typical house build cost has soared more than $94,000 in 15 months, according to figures revealed in analysis by the Housing Industry Association and News Corp Australia earlier this month.

The national inflation rate hit 6.1 per cent in the year to June with new dwellings and automotive fuel the most significant contributors, new figures released by the Australian Bureau of Statistics this week showed. New dwellings were up 20.3 per cent.

Warning to Australians wanting to build

While construction cost inflation is expected to ease sometime next year, in the meantime the pain will continue.

Mr Stephens said because costs were increasing so quickly, consumers needed to be aware prices quoted for builds would not last long.

“If they’ve had a price quoted that is older than 30 days they should expect to have that price renegotiated,” he said.

He also said consumers would see more builders including rise and fall clauses, also known as cost escalation clauses, in contracts.

“It gives the ability for a builder to pass an increase in cost of materials on to the consumer,” Mr Stephens explained, adding it was common in other countries but Australia didn’t typically use them.

“What I would say to consumers is that’s not necessarily a negative thing because if the builders don’t put those clauses in they’ll have to put more contingency in to the price to protect themselves against potential increases.

“So rise and fall clauses are probably a good thing for consumers because it means they will only pay the cost of the increase rather than an inflated prediction of what increases might be, especially as we’re seeing evidence now that the increases will start to slow down next year.”

Factors contributing to the construction industry crisis

The construction industry is facing challenges so great that high-profile building companies are dropping like flies.

Mr Schiafone said fragmented supply chain issues were not resolved and labor shortages across the nation have continued as a result of the pandemic.

The consultancy’s report noted lead times for some products from overseas were currently

16 to 20 weeks, when traditionally they were half that at eight to 10 weeks.

Additionally, the need for construction labor and materials after recent flood damage will enhance existing shortages across the country, he said.

Mr Schiafone said higher fuel prices, increasing power costs and timber shortages were all symptoms of the war in Ukraine and were likely to linger for some time yet.

RLB global chairman Andrew Reynolds said significant cost escalation, global delivery uncertainty, aberrant weather events causing significant construction delays, and labor shortages were common challenges in the industry across the world.

Failed building companies

The latest company to collapse was prominent Melbourne apartment developer Caydon earlier this week, blaming “one difficult market situation after another”.

The next day, on Wednesday, ASX-listed developer Cedar Woods shelved a major inner-city Brisbane townhouse and apartment project due to rising costs and delays.

It came less than a week after Perth developer Sirona Urban killed off a $165 million luxury tower, where more than 50 per cent of apartments had been bought off the plan, blaming skyrocketing construction costs and labor shortages.

It was the second major apartment project to fall over in Australia last week.

A Melbourne developer, Central Equity, abandoned plans to build a $500 million apartment tower on the Gold Coast, blaming the crisis in the building industry and surging construction costs for making the project unprofitable.

Earlier this year, two major Australian construction companies, Gold Coast-based Condev and industry giant Probuild, went into liquidation.

The grim list has continued to grow from there as a number of other high-profile companies also collapsed, including Inside Out Construction, Dyldam Developments, Home Innovation Builders, ABG Group, New Sensation Homes, Next, Pindan, ABD Group and Pivotal Homes.

Others joined the list too including Solido Builders, Waterford Homes, Affordable Modular Homes and Statement Builders.

Then two Victorian building companies were further casualties of the crisis, having gone into liquidation at the end of June, with one homeowner having forked out $300,000 for a now half-built house.

Hotondo Homes Horsham, which was a franchisee of a national construction firm, collapsed a fortnight ago affecting 11 homeowners with $1.2 million in outstanding debt.

It is the second Hotondo Homes franchisee to go under this year, with its Hobart branch collapsing in January owing $1.3 million to creditors, according to a report from liquidator Revive Financial.

Meanwhile, a Sydney family face never being able to build their dream home after their builder Jada Group collapsed in March owing $2.4 million and the cost of their home’s construction jumped to $1.9 million, a whopping $800,000 more than the original quote.

Snowdon Developments was ordered into liquidation by the Supreme Court with 52 staff members, 550 homes and more than 250 creditors owed just under $18 million, although it was partially bought out less than 24 hours after going bust.

Dozens of homeowners and hundreds of tradies were left reeling after a Victorian building firm called Langford Jones Homes went into liquidation on July 4 owing $14.2 million to 300 creditors.

News.com.au also raised questions about NSW builder Willoughby Homes, which is under investigation by the Government after builds stalled and debts blew out to 90 days.

There are between 10,000 to 12,000 residential building companies in Australia undertaking new homes or large renovation projects, a figure estimated by the Association of Professional Builders.

– with Sarah Sharples

Read related topics:Cost Of Living

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Categories
Australia

Monash University joins international effort to educate thousands of Ukrainian children

A young girl looking at something on her laptop with a poster of a world map behind her

Amid the sound of air-raid sirens and the threat of missiles, Sofiia Yakymenko logs onto her computer for an online lesson.

The 12-year-old takes two to five online classes a day from her home in kyiv about anything from atmospheric science to how to practice yoga.

These classes are held by teachers from all over the world, including from Monash University in Melbourne.

“I walk a lot, I read a lot – but mostly I take online classes,” she said.

With ambitions to be a biologist, the lessons have been a lifeline for Sofia since school stopped when Russia invaded Ukraine.

Her mum Yuliia Lashko is a physicist and has found comfort in the classes too.

“There’s no guarantee any missile does not hit your house,” she said.

“But it’s important to understand there are much more good people who can share something good.

“They remind us we do not stay alone and our children have a future.”

A mum and her daughter holding a dog with hills in the background
Sofia, Yuliia and their dog Peppi on holiday before the war.(Supplied: Yuliia Lashko)

Monash University provides lessons

More than 120 Monash University student teachers have been involved in providing online lessons for Ukrainian children who are living in the war-torn country or have fled abroad.

Maria Pakakis is one of the student teachers who ran a session about Mars from the Victorian Space Science Education Centre, where they have a simulated Mars surface.

Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.
How Victorian teachers are helping Ukrainians

She said 30 students joined the session, where they spoke about all aspects of the planet.

“It was a privilege and a pleasure — they were definitely eager to learn and asked some really great questions,” Ms Pakakis said.

“They were amazing considering what they’re going through.”

Michael Phillips has been Monash University’s faculty of education digital transformation associate professor and said the program started after Ukrainian organization Smart Osvita — an online learning NGO — approached him to run virtual classes.

A man holding a laptop and smiling with two students sitting at desks in the background looking at him
Monash University’s Mike Phillips with student teachers John Wall and Emma Hart.(Monash University: Tim Herbert)

Dr Phillips quickly said yes and within 24 hours of sending the word out to his students more than 100 put their hands up to teach.

He said he has been able to equip his young teachers with the skills to teach virtually, guided by “trauma-informed practice”.

“For [people in Ukraine] being able to experience that and see there are people who are wanting to support and help in any way gives them a sense they are not alone in this,” Dr Phillips said.

But he says remote learning also has a significant place at home and is an essential platform for teachers of the future.

“A lot of people don’t realize it, but Victoria’s biggest school is a fully online school with 5,500 students,” he said.

“And what we’re realizing with issues like COVID and the flu is the place of online learning isn’t going to go away any time soon.”

‘We’re going to keep going’

Smart Osvita international volunteer program coordinator David Falconer is continuing to search for ways the program can be not only expanded in Ukraine, but in other places affected by conflict.

An older man sitting at his desk with two computer monitors looking at the camera
Smart Osvita volunteer David Falconer working from his home in northern Canada.(Supplied: David Falconer)

Mr Falconer is an educator based in northern Canada who started working with the kyiv-based NGO soon after Russia invaded Ukraine.

“They invited me to coordinate the recruiting effort and to invite educators for the online learning program,” he said.

After approaching educators around the globe, he has since involved more than 20 institutions and organizations that are now teaching thousands of Ukrainian students.

They have even facilitated lessons hosted by Canadian film director Sergio Navaretta and astronaut Chris Hadfield.

Despite many children living in a war zone, Mr Falconer says the internet has been reliable thanks to Elon Musk’s low-lying satellites providing high-speed connections.

“We have kids joining lessons from bomb shelters – not for days, but weeks,” he said.

But it has not come without its challenges. Dr Falconer says the team has thwarted attempts by mysterious hackers attempting to derail the lessons.

“They’re wanting to disrupt these sessions because this program is successful and they want us to stop,” he said.

Mr Falconer is continually looking to grow the program and provide specialized tutoring for high school students in Ukraine.

Two people walking in a meadow near their home in kyiv.
Yuliia and Sofiia recently walking in a meadow near their home in kyiv.(Supplied: Yuliia Lashko)

He is also currently working to develop a similar program for children affected by the conflict in Burma.

But for now, Mr Falconer is calling for Australian institutions, organizations and individuals to get in touch if they want to join the effort.

“We’re going to keep going as long as it takes,” he said.

“You see those faces, you hear those voices, and you don’t forget.”

If you are interested in getting involved, you can register with Monash University here.

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