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06/06/2024 | Public Access
Economics
Australian economy weak, ABS figures say National accounts data released this week paint a sombre picture of the Australian economy. The economy expanded by an anaemic 0.1 per cent in the March quarter of 2024, following growth of 0.3 per cent in the December quarter. Overall, the economy grew by 1.1...
06/06/2024 | Public Access
Workplace Relations
Non-Competes and Other Restraint Clauses ACCI has lodged its submission in response to the Treasury Issues Paper on Non-Compete and Other Restraint Clauses, which is accessible here. Contrary to the impression provided by the Issues Paper, the vast majority of non-compete and other restraint clauses are unenforceable at common law. Our legal...
24/05/2024 | Public Access
Skills and Employment
Committee Meeting The Employment and Skills Policy Committee met in Melbourne this week. Members discussed measures included in the 2024-25 Budget, changes to migration settings, and the Strategic Review of Apprenticeship Incentives, including an update from the Department of Employment and Workplace Relations. Thanks to the Victorian Automotive Chamber of...
24/05/2024 | Public Access
Workplace Relations
Delegates’ Rights ACCI’s comments on the draft delegates’ rights award term, which the Fair Work Commission published on 10 May, were provided this week and can be accessed here. These comments represent the last submission before publication of the final determination, which will result in a delegates’ rights term for all modern...
24/05/2024 | Public Access
Energy
Two more years for Eraring power station The NSW Government has secured an agreement with Origin Energy to operate the Eraring Power Station until August 2027, ensuring a smooth transition from coal-fired power to renewable energy. This agreement guarantees a minimum electricity supply until 2027, mitigating energy reliability risks identified...
17/05/2024 | Public Access
Employment and Skills
Universities may face restrictions on enrolling international students if they exceed their enrolment caps under new legislation introduced this week. The Education Services for Overseas Students Amendment (Quality and Integrity) Bill will give Education Minister Jason Clare the authority to suspend or cancel courses that fail to meet standards or...
17/05/2024 | Public Access
Economics
Annual wages rose by 4.1 per cent in March quarter of 2024 The Wage Price Index rose by 4.1 per cent for the year in the March quarter of 2024, following 4.2 per cent in December. The WPI has consistently outpaced inflation over the past 12 months, signalling a return to real...
10/05/2024 | Public Access
Trade and International Affairs
2024 OECD Ministerial Council Meeting Last week, Business at OECD (BIAC) participated in the OECD’s 2024 Ministerial Council Meeting to discuss the current Economic Outlook paper, strategic priorities and key OECD standards and deliverables to be adopted in 2024. The discussions were led by BIAC Chair Rick Johnston and joined by BIAC...
10/05/2024 | Public Access
Tourism
Sustainability dialogue Austrade has convened the first Sustainability Dialogue with a large number of Australian Chamber – Tourism members in attendance. The dialogue was designed to feed into the next iteration of the THRIVE 2030 strategy action plan. The three themes for the day were The Push for Net Zero,...
10/05/2024 | Public Access
Small Business
Franchising Code of Conduct The Government has released its response to the Independent Review of the Franchising Code of Conduct which was undertaken by Dr Michael Schaper last year. ACCI made a submission to the review which is available here. The Government has agreed to or agreed in-principle with all 23 recommendations of...
10/05/2024 | Public Access
Employment and Skills
Construction workers boost The housing and construction sector will receive a $90.6 millionboost to increase the number of skilled workers following a pre-Budget announcement this week. Of that, $88.8 million will be provided for up to 20,000 new fee-free training places (locations to be negotiated between states and territories) over two years...
10/05/2024 | Public Access
Energy
Future Gas Strategy The government released its Future Gas Strategy on Thursday, confirming the important role of gas in the energy transition. Gas will remain an important source of energy through to 2050 and beyond. The strategy highlights the need for continued exploration, investment and development in the gas sector...
10/05/2024 | Public Access
Reserve Bank kept rates steady at 4.35 per cent
Following its meeting earlier this week, the Reserve Bank board left the cash rate unchanged at 4.35 per cent, amid signs that inflation is declining more slowly than expected. Governor Michele Bullock noted in her statement that that the economic outlook remained uncertain, and that the Reserve Bank remains “...
18/08/2023 | Public Access
Preparing for, and responding to, future pandemics and other international health emergencies
Background: The Departments of Health and Foreign Affairs and Trade are engaging in two negotiation processes through the World Health Organization (WHO) to strengthen the international legal framework to prepare for and respond to future pandemics and other international health emergencies. The two negotiation processes, which will build on lessons learned from...
28/07/2023 | Public Access
Employment and skills update | July 28, 2023
The latest vocational education and training (VET) data from 2022 is showing the beginning of a decline in student numbers. The National Centre for Vocational Education Research (NCVER) has recently released two separate reports showing student numbers declining in VET in schools and the number of government-funded VET students have also decreased. In 2022, there...
28/07/2023 | Public Access
Trade and international update | July 28, 2023
ICC Australia National Policy Committee Meeting ACCI held the ICC Australia National Policy Committee Meeting with special guest speaker Paul Hubbard, acting deputy head of the Simplified Trade System Implementation Taskforce on Thursday. Paul provided a brief overview of the STS followed by a short Q&A. The ACCI trade team...
28/07/2023 | Public Access
Tourism update | July 28, 2023
Minister for Tourism Senator Don Farrell this week announced that funding through the $7.5 million ‘Choose Tourism’ program had been allocated. The program was established to provide assistance to help rebuild Australia’s tourism workforce by offering state and territory governments, and tourism bodies, a share of $7.5 million for programs...
28/07/2023 | Public Access
Economics update | July 28, 2023
Inflationary pressure softens ABS Consumer Price Index data released earlier this week showed inflation had dropped to 6 per cent year on year in the second quarter of 2023, down from 7 per cent in the previous quarter, defying the market expectations of 6.2 per cent. This is the lowest...
21/07/2023 | Public Access
Economics update | July 21, 2023
The labour market remains extremely tight, with the most recent ABS Labour Force data, released yesterday, showing unemployment settling back to its low of 3.5 per cent. Unemployment has sat at this low level for the past 12 months , suggesting the labour market has reached its lower limit. An additional 33,000 people joined...
14/07/2023 | Public Access
Trade & International Affairs Update | 14 July 2023
ICC Australia National Policy Committee Meeting The ICC Australia National Policy Committee Meeting will be held virtually on Thursday, July 27 (2:30 – 3:30pm AEST). Special guest speaker Paul Hubbard, acting deputy head of the Simplified Trade System Implementation Taskforce will provide a brief overview of the Simplified Trade Taskforce...