THE ACCOUNTING profession supports the way Australian governments have managed COVID-19, but urges greater national unity and transparency, according to CPA Australia.

In October, CPA Australia, which is one of the world’s largest accounting bodies, conducted an online survey of 644 members to ascertain their attitudes to government responses to COVID-19. The survey results provide statistically robust evidence to inform the organisation’s ongoing policy and advocacy activities in response to COVID-19.

CPA Australia general manager for external affairs, Jane Rennie said, “CPA Australia members have a strong sense of public interest, and this was reflected in their responses. Respondents ranked public health as the single highest priority, followed by long-term economic recovery planning. Taken together, long-term and short-term economic recovery planning outranked public health as a priority.

“Although a majority of respondents believed that border closures have contributed positively to public health, the vast majority thought they have had a negative impact on the Australian economy.”

At a national level, 71.5 percent of respondents rated the Federal Government’s response to the pandemic as ‘good’ or ‘very good’. Respondents were more mixed about the impact and effectiveness of state government actions.

The Victorian Government’s response to the pandemic was more polarising. Victorian-based respondents were frustrated by a perceived lack of decision-making consistency and transparency in that state.

“The prolonged lockdown has undoubtedly contributed to a more pessimistic view of government decision making in Victoria," Dr Rennie said.

“Overall optimism regarding business conditions, employment conditions and the economy is not high; 73 percent of Victorians were not optimistic or only slightly optimistic about business conditions, compared with 60 percent of other Australians on the same measure.”

Regardless of their state of residence, respondents wanted governments at all levels to show greater national unity when responding to the impacts of the pandemic.

“Over 86 percent of respondents rated having a unified national approach as ‘very’ or ‘extremely important’ for managing COVID-19,” Dr Rennie said.

“Having multiple state and national approaches was not viewed favourably by respondents and was seen by some as associated with political game playing.”

In comments provided, several respondents also highlighted the need for increased transparency and clarity of government announcements, to assist individuals and businesses to understand how announced measures apply.

About CPA Australia

CPA Australia is one of the world's largest accounting bodies, with more than 166,000 members working in 100 countries and regions and supported by 19 offices globally. Core services to members include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the community. cpaaustralia.com.au\

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THE NUMBER of jobs supported by the resources industry in Queensland has now reached 420,000, following the release of new data showing an extra 50,000 jobs have been created by the sector in the past financial year.

The Queensland Resources Council today released industry figures confirming mining, gas and energy companies added a record $82.6 billion to the state economy in 2019-20, representing a $5 billion increase on the year before.

QRC chief executive Ian Macfarlane said the latest data showed one in every five dollars in the state economy and one in six jobs are due to the Qld mining and gas industry, highlighting the significance of the sector to every Queenslander’s hip pocket.

“The overall number of jobs supported by resources in Queensland has risen by 13 percent since June last year, increasing from 372,000 to 420,000-plus people now working across our sector,” Mr Macfarlane said.

“Of these, 52,676 people are directly employed in resources and a further 367,493 jobs are supported by the sector, which emphasises the significant flow-on benefits to the wider community from having a strong resources industry in Queensland.

“This is more important than ever as Queensland businesses continue to battle the headwinds of COVID.”

The number of Queensland businesses directly supported by mining, gas and energy companies rose by 5 percent since June last year from 14,400 to reach 15,199, with companies reporting a 19 percent increase in spending during this period.

Mr Macfarlane said resources remained a huge contributor to the Queensland economy and to job security across the state, and he urged voters to take this into account as they head to the polls.

“The QRC has been running a Protect Your Job campaign during the state election to make people aware of the economic importance of resources to Queensland, and to encourage voters to back candidates who will protect jobs and support the mining and gas industry,” he said.

“On top of the billions of dollars resources contributes to the state economy each year, our companies also pay Australia’s highest royalty tax rates, which collected $4.5 billion last year for the Queensland Government.

“This money goes directly into the state budget to fund teachers, nurses, doctors, hospitals, schools and roads so that gives billions of reasons for voters to back candidates who support the resources sector.”

The latest QRC figures show Brisbane has maintained its position as Queensland’s largest mining town with McConnel, Clayfield, Cooper and South Brisbane being in the top 10 electorates to benefit economically from the resources industry.

Mr Macfarlane said he hoped voters in these Brisbane seats will vote to protect their jobs and back local candidates who value and support the resources sector.

The top 10 Queensland electorates ranked in order of economic contribution are McConnel, Mackay, Burdekin, Gladstone, Gregory, Whitsunday, Clayfield, Cooper, Mirani and South Brisbane.

Collectively these 10 seats contribute a massive $46.3 billion to the Queensland economy and support the jobs of nearly 244,000 Queenslanders.

www.qrc.org.au

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A MILLION Queenslanders working in the state’s major industries have urged all political parties to prioritise the 'Three Rs' – Revenue, Regions, and Regulation that is reasonable – to ensure the state's continued strong growth.

The five industries – agriculture, mining and gas, tourism, timber and property – collectively employ one in three Queenslanders. AgForce, Queensland Resources Council (QRC), Queensland Tourism Industry Council (QTIC), Property Council of Australia (PC) and Timber Queensland (TQ) have joined forces to call on the next State Government to prioritise the Three Rs "to ensure a strong post-COVID recovery".

At a time when Queensland has recorded Australia’s highest unemployment rate, with forecasts it will rise to nine percent, the five peak organisations have established common ground and United for Recovery on behalf of their sectors and the community. They are calling on the next Queensland Government to commit to developing the state’s regions, stabilising the Budget and collaborating effectively with industry bodies on regulation.

AgForce general president Georgie Somerset said regional Queensland was the engine room of the state’s economy and needed appropriate policy settings to be able to deliver maximum value for all Queenslanders.

“Agriculture – driven by around 18,000 primarily family-owned farms who feed and clothe us – pumps $18 billion into the economy annually and is the cornerstone of thousands of rural and regional communities,” Mrs Somerset said.

QRC chief executive Ian Macfarlane said each industry body shared the view that keeping Queenslanders earning, working and contributing to the state economy was the best way to respond to and overcome the challenges of COVID-19.

“The Queensland resources industry contributed $74 billion to the state economy last year and supported the jobs of 372,000 people, so we’re asking the next government to work closely with our sector for the benefit of all Queenslanders to create more jobs and stimulate a strong economic recovery from COVID,” Mr Macfarlane said.

QTIC CEO Daniel Gschwind said tourism delivered vital economic benefits to regional communities that supported thousands of jobs in all parts of the state.

“A partnership with government is critical to develop catalytic infrastructure and provide an efficient regulatory framework to fully activate tourism’s potential for the recovery,” Mr Gschwind said.

PC’s Queensland executive director Chris Mountford said unlocking private sector investment must be at the forefront of any new government's agenda.

"The private sector is ready and willing to invest and create new jobs in Queensland, however without the right tax settings in place, that investment will find a new home elsewhere," Mr Mountford said.

TQ CEO Mick Stephens said the forest products industry supported many regional jobs and delivered much needed timber supply into the state’s building and construction sector.

“Having more certainty around regulation and infrastructure will improve the investment environment and allow the industry to grow and further contribute to regional jobs and prosperity,” Mr Stephens said.

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THE Queensland Resources Council (QRC) has welcomed the LNP’s commitment to unlock the North West Minerals Province to fast-track projects, investment and jobs with the appointment of a dedicated Deputy Coordinator-General.

QRC chief executive Ian Macfarlane said the LNP had responded to the QRC’s request for the role to be created to address the constraints identified in reviews into the future development of the North West Minerals Province.

The request was contained in a joint QRC and Association of Mining and Exploration Companies’ Resources Industry Recovery Agenda.

“Queensland has globally-significant reserves of copper, nickel, zinc, graphite, and molybdenum and major deposits of cobalt, rhenium, scandium, tantalum, niobium, lithium, rare earths and vanadium,” Mr Macfarlane said.

“The development of the North West Minerals Province will put Queensland ahead in terms of providing the critical minerals for battery and renewable technologies and advanced manufacturing.

“The North West Minerals Province will not only deliver for Townsville and the North, but for Australia with the insatiable global demand for these minerals.”  

Last year, QRC worked with the Queensland Government on the development of its $13.8 million five-year package to encourage new discoveries of critical minerals to attract more overseas investment, drive more international trade and create more local jobs and economic prosperity.

Mr Macfarlane said the LNP’s commitment today follows its earlier commitments to the QRC on behalf of the resources industry, including:

• a 10-year freeze on resource royalty rates and thresholds;
• a faster approvals process, with key performance indicators tracked and published to restore industry confidence in the Queensland Government;
• $8 million for minerals exploration and a promise to cut crippling electricity costs faced by the mineral sector;
• support for the development of the CopperString 2.0 high voltage transmission line connecting the NWMP with the National Electricity Market in partnership with the Federal Government.

Click here to view the joint QRC-AMEC Resources Industry Recovery Agenda. A copy of the agenda was provided to all parties.

www.qrc.org.au

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