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09/06/2022 | Public Access
Tourism update | 10 June 2022
The Australian Chamber – Tourism has filed a further submission to the Fair Work Commission in relation to the annual wage review, reinforcing the position that any increase in award wages for aviation and tourism, accommodation and food services, as well as the arts and recreation services sector should be delayed until...
09/06/2022 | Public Access
Economics update | 10 June 2022
Sharp rise in the cash rate to tame accelerating inflation At its June meeting, the Reserve Bank board raised the cash rate by 50 basis points to 0.85 per cent. This was notably higher than market expectations of 25 to 40 basis points. The move comes in response to accelerating...
03/06/2022 | Public Access
Economics update | 3 June 2022
Robust economic growth in the March quarter, despite omicron and flooding Despite strong headwinds from the COVID omicron outbreak and flooding in Queensland and NSW, the economy showed solid growth in the March quarter 2022, with the ABS National Accounts released earlier this week showing Gross Domestic Product (GDP) increased...
03/06/2022 | Public Access
Employment and skills update | 3 June 2022
This week following the announcement of Labor’s new Ministry, we have congratulated each of the new Ministers that we’ll be engaging with in relation to Employment & Skills and highlighted key priority policy areas. Amid the worst labour and skill shortages in almost 50 years, of particular importance is skilled migration. We...
03/06/2022 | Public Access
Tourism update | 3 June 2022
Australian Chamber – Tourism congratulated Senator Don Farrell on his appointment to Minister for Trade and Tourism this week. Australian Chamber – Tourism has had great engagement with the Senator over the years, most recently in his role as Shadow Minister for Tourism. We wrote to Minister Farrell outlining Australian...
03/06/2022 | Public Access
Trade and international update | 3 June 2022
The 12th Ministerial Conference (MC12) is coming up on 12-15 June 2022 at WTO headquarters in Geneva following postponement in 2021 due to the COVID-19 pandemic. Topics at MC12 are expected to include: Agreement on Fisheries Subsidies Joint Ministerial Declaration on the advancement of gender equality and women's economic empowerment...
03/06/2022 | Public Access
Workplace relations update | 3 June 2022
Workplace Policy Committee meeting — Labor government’s Secure Australian Jobs Plan On Thursday, June 23, 2022, ACCI’s Workplace Policy Committee (WPC) will convene online to further discuss the new Labor Government’s planned changes to Australia’s IR system and the Fair Work Act. We expect that the new government will move...
27/05/2022 | Public Access
Workplace relations update | 27 May 2022
Workplace Policy Committee meeting — Labor government’s Secure Australian Jobs Plan On Thursday, June 23, 2022, ACCI’s Workplace Policy Committee (WPC) will convene online to further discuss the new Labor Government’s planned changes to Australia’s IR system and the Fair Work Act. We expect that the new government will move...
27/05/2022 | Public Access
Economics update | 27 May 2022
Marked increase in electricity prices set for 2022-23 This week the Australian Energy Regulator (AER) released its determination on the default market offer (DMO), which sets the maximum price an electricity retailer can charge a standing offer customer in Queensland, NSW and SA. Victoria sets its own DMO, which was...
27/05/2022 | Public Access
Employment and skills update | 27 May 2022
The Employment and Skills Committee met on Tuesday in Melbourne. The meeting was a great opportunity for ACCI and members to get together following the election, with discussions on key Labor policies and member priorities across employment and skills including migration, apprenticeships, VET, higher education and the new employment services...
27/05/2022 | Public Access
Tourism update | 27 May 2022
With some great initiatives in the Labor tourism support announcement prior to the election, Australian Chamber – Tourism is set to engage with the new tourism minister when the ministry is announced. Labor’s pre-election commitments were a great start with initiatives in relation to skilled workers, marketing, business events and...
20/05/2022 | Public Access
Unemployment now lowest in almost 50 years, but wages growth subdued
The labour market tightened further in April, with Bureau of Statistics data showing a further 4,000 new jobs added in the month, with 13.4 million people in work. After much expectation that it would occur last month, the unemployment rate has now fallen below 4 per cent to 3.9 per...
06/05/2022 | Public Access
Reserve Bank raises the cash rate to 0.35 per cent
Responding to the jump in inflation to 5.1 per cent in the March quarter, the Reserve Bank lifted the cash rate at its board meeting earlier this week by 0.25 basis points to 0.35 per cent. This begins the process of normalising the cash rate after an extended period of...
29/04/2022 | Public Access
Tourism Update
Today Australian Chamber – Tourism released seven key priorities that the tourism sector would like to see committed to by both parties in the lead up to the election to assist in the recovery and capitalise on the potential of the visitor economy. There’s a lot of ground to make...
28/04/2022 | Public Access
Soaring inflation increases pressure on the RBA to raise the cash rate
The Government’s economic management credentials are being called into questions, with inflation climbing to 5.1 per cent in the year to March 2022, its highest level since June 2001 after the introduction of the GST. ABS Consumer Price Index data released earlier this week show soaring fuel prices and the...
22/04/2022 | Public Access
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21/04/2022 | Public Access
Pre-election Economic and Fiscal Outlook
Earlier this week the Secretaries of the Treasury and Department of Finance released the Pre-election Economic and Fiscal Outlook (PEFO) as required under the Charter of Budget Honesty Act 1998. With the Budget released only three weeks ago, it’s no surprise that the major economic parameters in the 2022 PEFO are unchanged...
21/04/2022 | Public Access
Workplace Relations
Member Meeting - Workplace Policy Committee / Economics and Industry Policy Committee On Wednesday April 20, ACCI's Workplace Policy Committee (WPC) and Economics and Industry Policy Committee (EIP) convened together to determine ACCI’s position for the 2022 2022 Annual Minimum Wage Review. The Committees resolved to recommend to the Fair...