Reform UK has vowed to change the way public sector pensions are invested as it attempts to cut waste in local councils, saying “mismanagement” of funds is costing as much as £10 billion ($13.5 billion) a year in missed earnings and excess fees.

The right-wing party on Monday held a press conference in which deputy leader Richard Tice accused local pension fund trustees of “incompetence at best, gross negligence at worst,” as he announced the conclusion of Reform’s review into the savings pots. He said funds were overpaying on fees to managers who were under-delivering, leaving taxpayers on the hook for any shortfall.

Australia is expecting its fourth-largest wheat harvest on record, with crop forecasts dramatically upgraded following heavier-than-expected rainfall across major grain belts during winter.

The nation’s total 2025 grains harvest is expected to be around 62 million tons, a 12% jump from the previous report in June, according to the Department of Agriculture’s quarterly crop report, released Tuesday. Overall, the latest crop estimates are about 26% above the 10-year average.