Skip to main content

Business News Releases

165,000 workers face cuts to pay and conditions under Coalition’s IR approach: McKell Insitute report

The report, titled Risking the Floor: The Impact of the Coalition’s IR Agenda, also warns that about 3.3 million workers who currently rely on award rates as a foundation for negotiating enterprise agreements and individual arrangements would see their bargaining position severely weakened.

The occupations hardest hit would include nurses, electricians, teachers, and skilled tradespeople. The McKell Institute estimates a typical nurse could lose approximately $9,286 per year under the proposed changes, while a teacher faces potential losses of around $5,604 per year. Electricians and plumbers stand to lose around $13,431 and $5,694 per year, respectively.

The report points to the federal Coalition’s endorsement of a NSW Liberal policy, which proposes to remove award protections from workers earning above average weekly earnings. Shadow Minister for Employment and Workplace Relations Michaelia Cash has expressed her support for the NSW policy stating it contained “good ideas that align strongly with the Coalition’s approach to industrial relations.”

McKell Institute acting CEO Sarah Mawhinney said the likely changes under a Dutton Government would represent a serious threat to workers and families across Australia.

“These cuts would mean real hardship for hundreds of thousands of Australians who rely on penalty rates and allowances to make ends meet,” Ms Mawhinney said.

“Workers like nurses, teachers, electricians, and plumbers are essential to our communities. Stripping away their basic protections would be devastating, not only for these individuals and their families but also for the broader economy.

“The Coalition’s actual industrial relations policy have been hidden from the public. Given this secrecy, and Michaelia Cash’s explicit praise for the NSW Liberals’ policy, it is reasonable to anticipate a Dutton Government would pursue similar measures.

“These are significant, harmful cuts that would disproportionately affect essential workers and their families, potentially pushing many Australians into financial stress or even poverty.”

The McKell Institute calls on the Coalition to immediately clarify its position and commit to maintaining current award protections for Australian workers.

Full report here

 

ends

  • Created on .

New Timber Furnishing Textiles Union members vote overwhelmingly to split from CFMEU

MEMBERS of the CFMEU Manufacturing Division have voted overwhelmingly to leave the CFMEU and establish an independent union—the Timber, Furnishing and Textiles Union (TFTU).

In the AEC-run ballot ordered by the Fair Work Commission, 91.6% of participating members voted 'yes' to the split.

The union will now begin formal steps to complete the demerger and establish Australia’s newest trade union.

“Our members have voted for change—for a union that is theirs. One that reflects their industries, their values, and their future,” said Michael O’Connor, national secretary of the soon-to-be-established TFTU.

“This is about building a better union—worker-led, transparent, and free from the influence of the CFMEU’s construction division.”

In an extremely high turnout for a non-compulsory union ballot almost 50% of members voted with 3553 voting yes and only 324 voting no.

The vote was made possible by legislation passed last year in Federal Parliament, championed by Senator Jacqui Lambie and Minister Tony Burke, and supported by all MPs — except Adam Bandt and the Greens.

“Members won’t forget how all MPs voted with integrity to give workers a say on their future — except Adam Bandt and the Greens, who disgracefully backed John Setka ahead of workers.

“We thank Senator Lambie, Minister Burke, and all MPs who backed our members’ right to choose their future.”

This result follows a years-long campaign led by delegates and members who demanded a clean break and a stronger union.

“This isn’t just a name change. It’s a structural and cultural shift — towards more independence, integrity, and member control,” Mr O’Connor said.

“Delegates and members drove this campaign from the ground up. They’ll be central to what comes next.

“The TFTU will carry forward the proud traditions of the Manufacturing Division and its predecessor timber, furnishing trade, pulp and paper, and textile, clothing and footwear unions—while forging a bold new path for its members as a proud part of Australia’s trade union movement," Mr O’Connor said.

 

ends

  • Created on .

Sharing stories, celebrating culture – Yarning competition just launched

YESTERDAY the Department of the House of Representatives launched Yarning, a new competition for First Nations secondary school students across Australia.

The Yarning competition is about storytelling. It aims to raise awareness of Aboriginal and Torres Strait Islander cultures and provide a platform for young First Nations Australians to connect with the work of the Australian Parliament.

The goal of Yarning is to give young First Nations students a chance to share their perspectives and stories with a broader audience. We also want to increase students’ understanding of the work of the department and the Australia Parliament.

The competition is open to Aboriginal and Torres Strait Islander students in years 7/8, 9/10 and 11/12 to share their unique stories and experiences. Students from regional, rural and remote areas are encouraged to take part and showcase their stories.

There are four themes to choose from and students can choose from different creative mediums such as two‑dimensional artworks; a piece of writing; photographs or videos; or a song, speech or soundscape. The themes are:

  • Country and connection
  • identity and culture
  • family and community
  • reconciliation.

Entries will be judged on how engaging the storytelling is, the originality and creativity, how relevant the entry is to its theme, and the care and effort that has gone into is presentation. The judging panel includes members of the APS Indigenous Senior Executive Network and the Parliamentary Services Indigenous Employee Network.

The three winners will be flown to Canberra for three nights and get to meet the Minister and Shadow Ministers for Indigenous Australians. They also get to share their entries, enjoy private tours behind the scenes of Parliament House, and a prize pack of goodies from the Parliament Shop.

The competition is now open and entries can be submitted via the online entry form until May 30, 2025.

Full details of the competition are available at yarning.houseofrepresentatives.gov.au.

 

ends

  • Created on .

AFCA enhances support for employees affected by domestic violence

THE Australian Financial Complaints Authority (AFCA) has announced significant enhancements to its family and domestic violence support policy, reaffirming its commitment to the safety and well-being of employees affected by domestic violence.

These policy improvements provide increased flexibility, confidentiality, and access to vital resources, an AFCA spokesperson said.

AFCA employees experiencing domestic violence can now take up to 20 days of paid leave and those requiring additional time will have access to unlimited unpaid leave, ensuring they have the flexibility needed to focus on their safety and recovery. 

“These aren’t just policies on paper – they are meaningful changes designed to support our people when they need it most,” AFCA executive general manager for people and culture, Mathew Paine said. “We are committed to ensuring we do what we can to support any of our people who might experience the serious and significant impacts of family violence.” 

AFCA has also introduced designated 'safe places' for its people and their families, with access at any time, including weekends and outside work hours. 

Additionally, there are now dedicated confidential contacts within the people and culture team who will be available as a trusted contact point for information on internal and external support. These team members have received training to provide discreet guidance and resources to those in need. 

Employees have access to a range of support services, educational materials and external assistance. AFCA is also rolling out internal training initiatives to improve awareness of these resources and to foster a culture of understanding and proactive support across the organisation. 

"We are striving to ensure AFCA is not just a great place to work but also offers genuine support to our people when they need it,” Mr Paine said. 

“We are proud to join other organisation who have taken these sorts of steps, and we hope our action provides an example for others.” 

About AFCA

The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. AFCA is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.

www.afca.org.au

 

ends

  • Created on .

Economics Committee reports on ASIC

THE House of Representatives Standing Committee on Economics has released the final report for its reviews of the Australian Securities and Investments Commission (ASIC) annual reports of 2021, 2022 and 2023.

Committee Chair, Daniel Mulino MP, said the report covered key issues examined by the committee during the 47th Parliament.

Dr Mulino noted that ASIC had been subject to extensive parliamentary scrutiny over the past three years, including by other committees.

"Similar to our colleagues on the Parliamentary Joint Committee on Corporations and Financial Services, the House Economics Committee asked extensive questions about ASIC’s enforcement approach," Dr Mulino said. "Members also probed how ASIC measures and reports on its performance, and whether it is meeting the expectations of both government and the community in fulfilling its role."

Dr Mulino said although the committee acknowledged the challenges ASIC faces in triaging thousands of complaints and tip-offs annually, the committee expected ASIC to continue its efforts to better communicate with the many Australians who reach out for help.

He said the report also discussed ASIC actions under new intervention powers granted after the Hayne Royal Commission, including step-in powers to block poorly targeted financial products.

"The committee was pleased to see early signs of success from ASIC’s use of the new powers, and we encourage ASIC to continue using these new tools judiciously to prevent and take action against wrongdoing," Dr Mulino said.

Dr Mulino said the committee had been particularly concerned by ASIC’s reports of widespread misleading practices in the insurance industry, and urged ASIC to remain vigilant on this issue.

"Alleged insurer misconduct was also a major theme in the committee’s recent review of insurers’ responses to 2022 major flood claims," he said, "where we recommended significantly expanding ASIC’s data-collecting powers for the insurance industry. We were pleased to hear through these annual report reviews that ASIC supports those recommendations."

The report also addressed ASIC’s recent work on other issues and industries, including corporate cyber security obligations, greenwashing and the ASX’s troubled CHESS settlement system upgrade.

www.aph.gov.au

 

ends

  • Created on .