Category Archives: Australian economy

Federal Icac legislation to be introduced to parliament next week – as it happened

Posted on by

Gallagher says Labor has not changed position on tax cuts

And on the stage three tax cuts, Katy Gallagher echoed the line the treasurer, Jim Chalmers, started last week and continued yesterday – which is effectively Labor playing dead on the $243bn cuts:

I have been asked this a number of times. You know, we haven’t changed our view on stage three. They don’t come in until 2024.

My sole focus at the moment is putting a budget together for October and what we can do in the short-term to relieve pressure on families. That is what I’m focused on everyday.

Well, the budget we inherited was heaving with a trillion dollars of Liberal party debt. We got deficits as far as the eye can see.

We got some programs that weren’t funded in an ongoing sense that clearly are programs that need ongoing funding.

Continue reading...

Australia politics live: RBA interest rates decision due; climate bill to pass Senate with Pocock amendments

Posted on by

Labor’s signature climate change legislation will pass the Senate with some minor changes

Delayed rate pain

While the interest rate increases are hitting those already on variable rates, those who are on fixed rates which are about to expire are going to feel a lot of pain, when their repayments jump to include the cumulative increase all at once.

Continue reading...

Dutton withdraws Albanese ‘liar’ allegation in question time – as it happened

Posted on by

Anthony Albanese insists stage-three tax cuts worth $243bn will go ahead

There has been a lot of talk around the incoming (July 2024) stage-three tax cuts given they will cost the budget $243bn over 10 years (at this point); overwhelmingly benefit men earning over $180,000; and destroy Australia’s progressive tax system (everyone earning between $40,000 and $200,000 will pay the same tax rate).

You make a choice about what you do, your initiatives and the initiatives we are making are positive ones that will make a difference to people, including our childcare policy.

It’s really important that our payments keep up with inflation. That’s why they’re indexed twice a year, and every little bit helps. This indexation will be particularly big this month, because inflation is particularly challenging.

And we know that it won’t solve every problem for everybody, but it’s important that we try and make sure that those payments keep up. That’s what the indexation is about. It will be welcome even as we acknowledge that times will still be tough for a lot of people.

I’ve been really upfront with people before the election, during the election and after the election. I’ve said to you many times over the last six months or so that it would be too expensive to continue that petrol price relief indefinitely. I think Australians understand that we’ve inherited a budget which is heaving with a trillion dollars in Liberal party debt, and that means some difficult decisions including this one.

Continue reading...

Consumer watchdog will crack down on petrol price gouging when tax cut ends, Labor says

Posted on by

Federal government also confirms pension and jobseeker will rise 4% in line with consumer price index, as parliament returns

The federal treasurer, Jim Chalmers, has asked the competition watchdog to crack down hard on any price gouging when the petrol excise cut expires at the end of September.

The letter to the Australian Competition and Consumer Commission, released on Monday, confirms the government’s intention to reintroduce “the full excise” on 29 September. It was halved for six months in the March budget.

Sign up to receive an email with the top stories from Guardian Australia every morning

Continue reading...

More than 30 people died due to triple-zero delays in Victoria; Qantas boss warns against IR reforms – as it happened

Posted on by

Alan Joyce says multi-employer bargaining could create problems; western NSW braces for flooding. This blog is now closed

And if you want a more expansive read on where the dispute between the Rail, Tram and Bus Union and the NSW government is at, Michael McGowan’s great analysis is a must-read:

NSW industrial relations minister calls out Labor’s ‘brazen intervention’ in rail dispute

The brazen intervention of Labor into the Fair Work Commission to support the rail unions and their political campaign of rolling strikes is a disgrace.

For Tony Burke to be asking the Fair Work Commission to ­implement his agenda while the summit is still sitting, let alone any consultation occurring on his planed legislation, shows the depth of arrogance and entitlement that the union movement and Labor bring to government.

Continue reading...

Labor to relax work tests for pensioners following jobs and skills summit – as it happened

Posted on by

Treasurer Jim Chalmers says the policy change will cost around $55m, and the government will do further costs. This blog is now closed

Tasmanian Tafe needs to be fit for purpose before additional places can make a difference, Lambie says

The government yesterday kicked off the jobs and skills summit with the announcement of 180,000 more free Tafe places.

We certainly would like to do more, but some of these issues, of course, are within the budget constraints, which are there … we have inherited $1tn of debt. Yes, it is a worthy idea and worthy of consideration.

No, that’s not on the agenda. But it is a good thing that people are able to put forward ideas.

Continue reading...

Labor pledges ‘immediate’ workplace changes at jobs summit – as it happened

Posted on by

The first day of the jobs and skills summit is under way in Canberra. This blog is now closed

Every Australian ‘holds a stake’ in outcome of jobs and skills summit, PM says

The prime minister, Anthony Albanese, finishes his opening address at the jobs and skills summit on a note of wanting to promote unity. He says:

Australians have conflict fatigue.

Every Australian holds a stake in the outcome of our discussion.

The work of building a stronger economy should include everyone, should lift everyone up.

Continue reading...

Big business and unions reveal shared policies on three big ticket items ahead of jobs summit

Posted on by

Business Council and ACTU agree on need to boost paid parental leave, reform migration skills lists and set up an authority to support the clean energy transition

Big business and unions have agreed on three big ticket items ahead of the jobs and skills summit, including a boost to paid parental leave.

The Business Council of Australia and Australian Council of Trade Unions released their shared policies on Thursday, which include the need to extend paid parental leave, reform migration skills lists and set up an authority to support the clean energy transition.

Sign up to receive an email with the top stories from Guardian Australia every morning

Continue reading...

Australian house prices falling at fastest rate since 1980s as ‘sharp’ downturn widens

Posted on by

CoreLogic says every capital city except Darwin fell in August, with Sydney dropping 2.2%

Every capital city in Australia except Darwin is now in a housing downturn, according to a new report, with values falling at a trajectory not seen since the 1980s.

CoreLogic’s home value index shows national housing values are falling rapidly, after rising about 29% during a period of sharp growth.

Continue reading...

Australia news live: PM pays tribute to Gorbachev as ‘one of the true giants of the 20th century’

Posted on by

Anthony Albanese will meet with premiers and chief ministers today for the national cabinet in Sydney

Jobs summit should support apprenticeships in female-dominated trades, independents say

Independents are calling for more investment in female-dominated trades like textiles and floristry ahead of the government’s jobs and skills summit to be held tomorrow.

This jobs summit must not become fixated on getting only the high-vis industries out to work and leave the pink workforce at home yet again … We have women who want to work. We must enable them.

There’s been too narrow a view of what are the apprenticeships and trades, it’s been a very bloke-centric approach.

Continue reading...

Lawyer reveals dementia diagnosis after guilty verdict – as it happened

Posted on by

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.

Continue reading...

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

Posted on by

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.

Sign up to receive an email with the top stories from Guardian Australia every morning

Continue reading...

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

Posted on by

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.

Continue reading...

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

Posted on by

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

Continue reading...

Pocock urges Labor to scrap tax cuts – as it happened

Posted on by

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.

Continue reading...

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

Posted on by

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.

Continue reading...

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

Posted on by

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.

Continue reading...

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

Posted on by

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.

Sign up to receive an email with the top stories from Guardian Australia every morning

Continue reading...

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

Posted on by

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.

Continue reading...

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

Posted on by

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.

Continue reading...