THE Australian Workers Union (AWU) is calling on GrainCorp to open up its coffers and allow workers to reap their fair share of the record harvest.

The AWU said with the drought broken, it’s now time for GrainCorp to give its employees their first decent pay rise in years.

It’s calling for a 12 percent pay rise over four years – just three percent each year - but says GrainCorp is refusing to budge despite awarding its top seven executives at least $6 million in bonuses last year.

Tony Callinan, AWU NSW assistant branch secretary, said, “GrainCorp is in the middle of a bumper harvest. It’s delivering big dividends to shareholders and out of control bonuses to management.

“But, the workers who are out there doing backbreaking work in the searing heat are being totally overlooked.

“It’s been a tough few years for people living in regional NSW. They’ve suffered through the drought and now being hit by the pandemic. Surely it’s time to start giving something back?”

GrainCorp’s 2019 annual report revealed that seven executives got to share more than $6 million in bonuses in a scheme not linked to corporate profits.

Mr Callinan said, “These greedy executives managed to get themselves the deal of the century in the middle of a drought and when profits were down. They looked after themselves alright but couldn’t care a less for the workers who actually do the grunt work.

“What we are asking for would cost GrainCorp less than $200,000 but benefit 180 workers and their families.  This is not class warfare whingeing – it’s about GrainCorp treating the vast majority of its workers with complete and utter disrespect.” 

The AWU has been trying to negotiate with GrainCorp management for months – demanding better pay and working conditions for nearly 180 workers – grain handlers and pest control workers in NSW.

But its calls for salary sacrificing, improved start times and even domestic violence leave have been continually knocked back by GrainCorp. Instead it’s offering workers their usual 2 percent annual pay rise.

Mr Callinan said,  ““What we are calling for would barely make a dent in GrainCorp’s profits but would make a huge difference to the pay packets of its workers and a difference to the communities that they live in.

“It would also be money that would be well spent in regional communities and businesses across NSW that have been struggling for years.”

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QUEENSLAND’s resources sector welcomed today’s budget, congratulating Treasurer Cameron Dick on mapping out Queensland’s long road to recovery.

"Creating more Queensland jobs is exactly the right objective for this budget and this will be helped by the fact our resources sector is on the verge of becoming  an energy and resources superpower," Queensland Resources Council chief executive Ian Macfarlane said.

"COVID-19 has been a hammer blow to everyone’s Budget – households, businesses and governments," he said.

"The state Budget shows the resources sector will be needed more than ever in the COVID recovery.

"Our sector will be needed for jobs, for exports, for investment and ultimately for government revenue."

The Budget papers show the dual blows to the resources sector – in volumes and prices – has reduced royalties by 45 percent this financial year.

The budget forecasts a $4 billion cumulative reduction in royalties over the next four years.

"However, the resources sector shares the Treasurer’s firm confidence that it will rebound,” Mr Macfarlane said.

"That’s why we welcome the announcement of a $200 million Future Skills Fund and the government’s commitment to work with our sector on the implementation of a first ever Queensland Resources Industry Development Plan.

"Queensland can transition to a global energy superpower thanks to the quality of our coal and gas reserves and abundant renewable opportunities.”  Mr Macfarlane said.

"The next stage of development is deploying the world-class expertise of Queensland’s resources industries to work to secure all the opportunities on offer as the state transitions to making renewable energy exports a reality.  

“The Palaszczuk government’s agreement to work with the QRC to deliver a Queensland Resources Development Plan will enable Queensland to work and earn our way out of COVID, supercharging Queensland’s economic recovery and delivering decades of responsible prosperity,” Mr Macfarlane said.

"Resources contributes one in every five dollars to the Queensland economy and one in six jobs, which is why our sector’s performance is so crucial to a strong COVID recovery.

“The royalty taxes contributed each year by resources companies help the Queensland Government pay for the nurses and doctors who care for our families, the teachers who educate our children, the police officers who keep us safe, and the hospitals, schools and roads we need for our communities to function,” he said.

“You can count on resources to help Queensland recover.”

www.qrc.org.au

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THE House of Representatives Standing Committee on Economics will hold a public hearing with the Governor of the Reserve Bank of Australia (RBA), Dr Philip Lowe, on Wednesday, December 2, 2020.

The RBA last appeared before the committee in August 2020.

At its meeting on November 3, the RBA Board announced a package of further measures to support the Australian economy as it recovers from COVID-19.

The moves comprise:

• a reduction in the cash rate target, the three-year yield target, and the interest rate on new drawings under the Term Funding Facility to 10 basis points, from the current 25 basis points;
• a reduction in the interest rate on Exchange Settlement balances to zero from the current 10 basis points; and
• committing to the purchase of $100 billion of government bonds over the next six months.

Committee Chair, Tim Wilson MP, said, "The committee will be scrutinising the RBA’s measures in response to the COVID-19 pandemic, particularly the move to implement quantitative easing, and how these measures will help the Australian economy recover after a very difficult year.

"We will also be scrutinising the RBA’s recent decision to start work on a digital currency, as well as zoning and planning regulation that is contribution to house price inflation."

Public hearing details

Date: Wednesday, 2 December 2020
Time: 10am to 12pm
Location: Main Committee Room, Parliament House, Canberra

The hearing will be broadcast live at aph.gov.au/live.

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OCTOBER 2020 was the best month for new detached house building approvals in almost 21 years according to Master Builders Australia chief economist Shane Garrett.

During October 2020, a total of 10,936 new detached houses received building approval. The last time a higher figure was recorded was back in February 2000.

“The numbers out today provide further proof that the HomeBuilder scheme is a huge success in supporting new home building at a very challenging time,” Shane Garrett said.

“Inward migration to Australia is the single biggest driver of demand for new home building and with permanent arrivals to the country at their lowest since World War II, government support for residential building has prevented activity from sinking to catastrophic levels.

“The weekend announcement of an extension to HomeBuilder is very welcome from this perspective as it means that the residential building industry can look forward to a decent pipeline of work for most of 2021,” Mr Garrett said.

“The strong linkage between residential building activity and the health of the rest of the economy in terms of jobs and small businesses means that the extension of HomeBuilder is good news for everyone."

masterbuilders.com.au

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