Category Archives: Australian economy

Lawyer reveals dementia diagnosis after guilty verdict – as it happened

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Independent calls for PM to ‘protect’ potential Icac from government interference

The independent MP Helen Haines, has called on the prime minister to “protect” a potential federal Icac from any future government interference.

We need more detail around how it will be funded to make sure, in subsequent governments, that the powers of this commission can’t be eroded away. And we need to make sure that the broad definition of corruption can really capture anyone who attempts to improperly influence government decisions.

The other part of it that I haven’t seen, and I would like to see, is what the government plans to do to encourage a pro-integrity culture. And I haven’t seen anything about that thus far.

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Business cuts to on-the-job training have made Australia increasingly reliant on migrants, experts say

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Academic says companies ‘squealing’ to government about worker skill shortage are contributing to it

Businesses have demanded governments invest more in skills training even as they reduce such spending themselves, leaving Australia reliant on skilled migrants to avoid falling further behind comparable nations, academics and unions say.

The assessment, made public days before the jobs and skills summit in Canberra, comes as the federal treasurer, Jim Chalmers, released draft legislation on Monday that would give $1.5bn in tax incentives for small businesses to lift the skills of employees.

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Australia news live updates: Albanese says government will ‘stand by’ stage three tax cuts at press club speech

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The PM says his government made the decision in 2019 ‘that we would stand by that legislation rather than re-litigate it’. Follow all the day’s news

Pocock pushes for scrapping of stage-three tax cuts

Independent senator David Pocock was on RN speaking about the stage-three tax cuts, which he says should be “resisted” – no matter what was promised before the election.

What I’ve said is that they should be revisited … [Anthony Albanese] has a really strong case to relook at these these tax cuts and see what what else that could actually be spent on, given the you know the huge amount of money that they represent.

Things have changed a lot since these were where they decided. We’ve had bushfires, a global pandemic. We’ve had flooding and stagnant wages, and now people are in a cost-of-living crisis across the country. And so I just don’t think that we can justify handing out $240bn over the next 10 years to the wealthiest Australians.

Ultimately, when we hit the budget in October – which is where these issues get reviewed every year – when you look at the budget, there will be things that we want to do that we can’t do. And that’s the reality of a trillion dollars of Liberal debt, particularly as inflation goes up. That debt now costs a lot more than it costs even a year ago.

So there will be things that that we would want to do that people would like us to do that aren’t going to be possible as an example. It’s basically saying, ‘Yeah, this is just too too expensive.’

We’re only in the second month of that new system. A lot of it was designed before we came to office and the contracts had all been signed before we came into office. So I’m still very mindful of what we can do. But the the challenges of the people who are in the system right now are exactly as you’ve described.

I think to live on $46 a day is incredibly difficult if not impossible.

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Australia’s jobs and skills summit: who’s going and what’s on the agenda?

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Labor hopes together business, unions and the community sector will be able to find ways to lift wages, spur productivity and ease skills shortages

Lifting wages, productivity and easing skills shortages are top of the agenda at Thursday and Friday’s jobs and skills summit.

Here’s everything you need to know about the event.

Maintaining full employment and growing productivity

Equal opportunities and pay for women

Sustainable wage growth and the future of bargaining

Mega-trends driving our current and future skills needs

Workforce opportunities from clean energy and tackling climate change

Skills and training

Migration

Workforce participation

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Pocock urges Labor to scrap tax cuts – as it happened

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Independent senator David Pocock says circumstances have changed ‘so much’ since stage three tax cuts policy was legislated. This blog is now closed

McManus: normal part of bargaining to have industrial action as a last resort

McManus is asked if she wants workers in specific business to regain the right to strike in support of workers in other business (otherwise known as sympathy strikes or solidarity action).

Not in support of workers in another business – together. It is a normal part of bargaining to have … as a last resort, to take industrial action, and that is what happens in countries that have multi-employer bargaining, and there [are] not more strikes, there is more pay rises.

Essentially when workers have an option to do that, obviously it means the option to have a better outcome, and a better outcome more quickly.

Basically, workers’ bargaining power has been smashed over that period of time That’s why we have a problem, a huge problem, with wages growth and unless we address that issue, that is not going to change.

We think [sector-wide bargaining] should be open to all, but obviously a lot of places … they are getting pay rises at the moment. They can access the bargaining system.

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Albanese meets with NBA legend in support of Indigenous voice – as it happened

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Greens call for immediate pay rises for minimum wage earners; 86 Covid deaths reported. This blog is now closed

The minister for employment and workplace relations, Tony Burke spoke to Channel Nine this morning, saying there is “a lot” government can do to help close the gender pay gap.

Burke said there is currently a 14% difference between what men and women are paid, which amounts to $250/week.

It’s a really common ploy in workplaces where women are being paid less than men. We want to get rid of those clauses.

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Business lobby joins unions in calling for lift in minimum wages for skilled visa workers

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Business Council of Australia also calls for migrant intake boost as Greens set up Senate standoff to raise wages in female-dominated industries

Big business has agreed with unions that the pay floor for temporary skilled visa workers should be raised to $90,000,in a split with smaller employer organisations that warned this could “kill” migration.

The Business Council of Australia (BCA) has also called for a two-year boost to the annual migration intake to 220,000 a year in a submission ahead of next week’s jobs and skills summit.

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Poor mental health could result in $7.4bn in lost productivity in NSW, report finds

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Exclusive: Research shows increase in depression and anxiety could result in hit on economy by 2025

Lost productivity due to poor mental health will see almost $7.5bn ripped from the New South Wales economy by 2025 if more is not done to support workers and businesses, according to a new report.

The Impact Economics and Policy report – commissioned by the NSW Council of Social Service (Ncoss) – looked at the compounding impacts of repeated natural disasters and the pandemic on the mental health of the population.

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Former PM says he did not misuse secret ministerial powers – as it happened

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If Morrison saga was playing out in the corporate world, he would have been stood down from job, Christine Holgate says

Former Australia Post boss, Christine Holgate continues to weigh in on revelations former prime minister Scott Morrison secretly appointed himself to the finance portfolio, overseeing her independent review without her knowledge.

I feel extremely disappointed … To to be told and go through that experience inparliament and then to be told that there will be an independent investigation into you, and then a full Senate inquiry. At no point did I ever know ... the arms-length independent review was actually overseen by Mr Morrison as the finance minister. That doesn’t sound very independent to me.

If this had happened in a corporate world, you know, that person would have been stood down for their job. There would be an enormous set of consequences. But unfortunately, this is allowed to take place in parliament, it feels. I think it’s almost incredible. And actually quite disturbing.

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Australia news live: John Howard criticises lack of detail on voice to parliament as Anthony Albanese arrives in Torres Strait

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The former prime minister has spoken at a National Press Club event at the Canberra Writers Festival

‘Cringeworthy’: energy minister says Morrison’s media conference was embarrassing

Circling back to Chris Bowen’s interview on ABC Radio, where the discussion on climate policy was followed by questions on the biggest story in Canberra – Scott Morrison’s secret appointment to five additional ministries.

I think to be fair that the governor general was in a difficult position, he has to accept the advice of the government or the PM of the day.

It was pretty pathetic, embarrassing and cringeworthy to be honest.

He should call Andrews.

The right thing to do would be to call all ministers concerned.

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Hurley says he had ‘no reason to believe’ extra ministries would be kept secret – as it happened

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Victoria’s opposition has pledged to scrap the suburban rail loop, described as the biggest transport project in the state’s history, with “every cent” of the $34.5bn saved to be invested in the health system if elected in November.

The commitment, made 101 days before voters go to the polls, sets the stage for another election turned referendum on infrastructure.

This November, Victorians face a clear choice. A choice between immediately rebuilding Victoria’s broken health system, or a train line in 13 years’ time.

As premier, my first priority will be to fix the health crisis.

So I think he himself, in reflecting on it, he has to come to the opinion that it probably wasn’t a good move. And, and on that issue, I agree with him.

If he did do something illegal, if he received some form of pecuniary benefit, if someone closely related to you get some for of pecuniary benefit, they failed to disclose, then yeah, you can pack up your bongos and get out of there.

But if something is legal, and you complied with the law even though people might not agree with that mightn’t be basically customary, or, as you would say, something you’ve done it in a way that’s annoying, you’ve done it in a way that has got people off side, but it’s not illegal. It’s not illegal.

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Unions and employers agree 40,000 more migrants a year needed to fill Australia’s skills shortage

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Consensus on migration and increasing subsidies for apprentices could pave way for policy reform at government’s jobs and skills summit

Unions and employers have agreed Australia should lift its migration intake by 40,000 annually to help fill skills shortages and demanded a boost to apprentice subsidies.

The consensus suggests the Albanese government could secure broad support for some policy reform at its jobs and skills summit in September, although the Australian Chamber of Commerce and Industry (Acci) will use a major speech on Wednesday to reject more ambitious union requests.

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Dutton says he was not aware of Morrison’s secret ministries – as it happened

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Ed Husic pushes for ‘brain regain’

Industry minister Ed Husic will this week host a series of five roundtable meetings with science and technology leaders in the lead-up to the federal government’s jobs summit, in a bid to kickstart what he called “brain regain” – attracting Australia’s bright minds working overseas to return home, to combat the so-called “brain drain”.

These discussions will also include ways to increase the representation of women and people of diverse backgrounds in skilled occupations. One of my priorities is on “brain regain” – encouraging Australian researchers and innovators to return home. I am interested to hear ideas on how this can be best achieved.

I can’t emphasise strongly enough that this is the start of engagement with these industry sectors. After the jobs and skills summit I will continue the work with industry leaders to ensure we apply practical solutions to accelerate Australia’s pathway to high-skilled, high-value economy.

He’s applied for a job and that’s coming with a significant degree of scrutiny, as it should do. That’s part of the territory if you’re going to put yourself forward for those roles.

If he felt the need to protect the environment from offshore drilling for gas off Sydney’s northern beaches and he felt he needed to swear himself in as minister, that’s something I support.

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Labor vows to prioritise Australian jobs as it eyes migration boost

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Annual intake could potentially rise from 160,000 to up to 200,000 places as businesses cry out for skilled workers

The home affairs minister, Clare O’Neil, has vowed Labor “will always prioritise jobs for Australians” as the government eyes increasing the migration cap potentially to 200,000 places per year.

A boost from the current annual migration intake of 160,000 will be on the table at the federal government’s jobs and skills summit next month.

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At least 89 Covid deaths; Littleproud tells Nationals he’ll bring pragmatic policies to jobs summit – as it happened

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Nationals leader outlines vision for party at federal council meeting. This blog is now closed

White whale calf seen off NSW coast

There’s one newborn hogging all the attention off the NSW coast – a southern right whale calf born whiter than usual, AAP reports:

Southern right whales are mostly very dark, although some have splashes of white called a blaze.

Its white areas will darken to grey as it ages. It’s one of around one-in-30 southern right whale calves born with brindle colouring.

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Clive Palmer ordered to pay part of Mark McGowan’s legal costs; 87 more Covid deaths – As it happened

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Federal court orders Palmer to pay undetermined sum in half of defamation proceedings between the pair; Senator Jim Molan calls for National Press Club not to host Chinese government officials. This blog is now closed

ACT warns of scam health texts

ACT Health says it has been made aware of scam text messages claiming to be services such as HealthDirect or Medicare.

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SES and Resilience NSW ‘failed’ to lead flood response, inquiry finds – as it happened

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New threatened species listings include south-eastern glossy black-cockatoo

Two Australian species that were badly affected by the 2019-20 black summer bushfires have been officially listed as threatened.

The damage caused by the black summer bushfires is still being felt today and can be seen reflected in these listings today.

The fires had an immense impact on our environment, from a small reptile found in the mountains to a bird that is at home on the coast. There is still a lot of work to do.

It seems as though these positions are being offered around almost like lolly bags to senior members of the New South Wales government rather than what they’re intended to be, which is senior positions funded by the taxpayer. We shouldn’t operate like that in New South Wales. We’re slowly but surely finding out the contours of what is an absolute scandal.

There’s many questions to be asked. At the end of the day we’re expected to believe of the 8 million people who live in New South Wales, John Barilaro was independently chosen to represent our interests. I think that ... stretches credibility.

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Australia’s highest and lowest income suburbs: how does your postcode compare?

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Western Australia’s Cottesloe and Peppermint Grove the top-earning area while five of the lowest are in regional NSW

Australia’s highest and lowest income suburbs have been revealed in new data released by the Australian Taxation Office.

The data, based on nearly 15m tax returns from 2019-20, reveals the median income and super balances of Australians in each postcode across the country.

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Australia politics live: leaders trade question time barbs over climate and power prices; CMO ‘confident’ Covid wave has peaked as 85 deaths recorded

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The parliament will sit at 9am – once the morning proceedings are done, it will be into the climate bill – people are getting ready to head to the galleries to watch it pass the house.

It has been a very, very long decade. There are a lot of people who need to see this, even if there is still a very, very long way for us to go to actually start acting.

The inclusion of an Objects clause that addresses targets, accountability, expert advice and the need for climate action in line with the science makes it clear that this is the beginning of a new era in Australia,” Chaney said in a statement.

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Commonwealth Bank and ANZ raise variable home loan interest rates by half a point to match RBA rise

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Increase puts the banks’ variable interest rates at highest in three years with Westpac and NAB yet to respond to official cash rate hike

The Commonwealth Bank and ANZ have matched this week’s move by the central bank and raised their variable home loan rates.

CBA’s rates for owner-occupier and investor mortgages will rise by half a percentage point on 12 August.

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