A key report commissioned by the federal and Victorian governments into the future of the Latrobe Valley has found that, regardless of the impacts of a carbon price, the region faces long-term structural challenges across its key big-employing growth sectors such as health care and agriculture.

That should have been the lead for media reports on a new report released yesterday into the restructuring of the Latrobe Valley region. AAP, in a piece run in the Herald Sun under the headline "Call for action on Vic's Latrobe Valley" got it pretty right. The Australian had, shall we say, a different take.