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House Economics Committee to hear from Reserve Bank of Australia next week

THE House of Representatives Standing Committee on Economics will hold its second biannual public hearing with the Governor of the Reserve Bank of Australia (RBA), Michele Bullock, on Friday, August 16. Additional RBA representatives will also appear.

Committee Chair Daniel Mulino MP said the RBA’s decision this week to leave interest rates unchanged was “welcome news to those who feared a rate rise, but no doubt very frustrating to the many praying for rate relief”.

Consumer price data for the June quarter showed a slight easing in the RBA’s preferred inflation measure to 3.9 percent, forestalling the risk of another rate rise for now. However, the RBA says inflation is still too high and has fallen very little over the past year. The RBA has foreshadowed that it will take inflation longer than previously predicted to return to target, and that restrictive monetary policy will continue.

Dr Mulino said the committee would continue its scrutiny of the RBA’s work as the bank strives to return Australia to its target inflation band of 2–3 percent, in an environment of growing global volatility and domestic cost of living pressures.

Dr Mulino said, “The RBA says it believes Australia is still on the ‘narrow path’ to a soft landing, but we also know that both inflation and mortgage stress are causing real pain for our households and businesses. The country relies on sound decision-making by the RBA and the committee looks forward to questioning Governor Bullock and her colleagues about their recent decisions and the path forward.”

Dr Mulino said the committee was also interested in the RBA’s evolving regulatory remit for payment systems, including Buy Now Pay Later services and credit card payments.

Public hearing details 

Date: Friday, 16 August 2024
Time: 9.30am – 12.30pm
Location: Committee Room 2R1, Parliament House, Canberra

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

 

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Speaker takes Parliament into local ACT schools

TOMORROW, the Speaker of the House of Representatives, Milton Dick MP will be in Canberra, as part of the Parliament in Schools program.

Students will learn about federation, democracy and the Australian Parliament, as well as hear first-hand from the Speaker and their local member on what a typical day looks like in their electorate and when they are in Parliament House for sitting weeks.

The Speaker will visit Sacred Heart Primary School and St Anthony’s Parish Primary School with David Smith MP, Government Whip and Federal Member for Bean.

“Since we launched this program, we have visited over 100 schools across Australia – from King Island to Far North Queensland, to Nullagine and now we are bringing it back to Canberra,” Mr Dick said.

“The Parliament in Schools program is an integral part of improving civics education across Australia.

“These students are our future leaders, and it is important that we equip them with the information and tools they need, to go on to be active and engaged citizens.”

About the Parliament in Schools program

Launched in September 2022, the Parliament in Schools program is a bi-partisan initiative to make civics education accessible to students regardless of their location. In collaboration with local federal members, the Speaker is visiting schools across Australia to bring parliament to them.

The program is an extension to well-established Parliamentary Education Office (PEO) onsite, digital and outreach education programs available to schools across Australia.

It also complements the existing PEO online and print resources that are curriculum-aligned, for Australian teachers and students.

www.peo.gov.au

 

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EV inquiry heads to Melbourne

THE House of Representatives Standing Committee on Climate Change, Energy, Environment and Water will be travelling to Melbourne this week as part of its inquiry into the transition to electric vehicles (EVs).

The committee will undertake two site visits in Melbourne; the first to Infinitev, a business that is reusing, repurposing and recycling hybrid and EV batteries, and the second to an ANCAP Safety test facility where the committee will view an EV or hybrid model crash test.

A full day public hearing will be held on Thursday,  August 8, where the committee will hear from industry stakeholders, including representatives from health and environmental groups, the petroleum and motor industries, and emergency services about Australia’s transition to EVs.

Committee Chair, Tony Zappia MP, said, "The committee has heard valuable evidence about the benefits and challenges that the transition to EVs presents. We are looking forward to meeting with witnesses in Melbourne to delve deeper into these issues to help inform our inquiry."

The program for the public hearings can be found here.

The committee will be holding further public hearings in Brisbane and Canberra in September 2024. Further information about the inquiry is available on the Committee’s website.

Public hearing details

Date: 8 August 2024
Time: 9.15am – 4.15pm
Location: Legislative Council Committee Room, Parliament of Victoria, Spring St, Melbourne.
Witnesses: Doctors for the Environment Australia, National Automotive Leasing and Salary Packaging Association, ANCAP Safety, Australasian Fire and Emergency Service Authorities Council, Lithium Australia, bp Australia, Motor Trades Association of Australia, Victorian Automotive Chamber of Commerce, Infrastructure Victoria, Victorian Greenhouse Alliance, Australasian Convenience and Petroleum Marketers Association.

 

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To brie or not to brie? - public hearing in Victoria

AT THE EIGHTH public hearing for the inquiry into food and beverage manufacturing in Australia, the House Standing Committee on Industry, Science and Resources plans to hear from a range of stakeholders in Victoria, including representatives from an independent think tank on alternative proteins and an advocacy group working to improve diets and prevent obesity in Australia.

Committee Chair, Rob Mitchell MP, said, “The committee has held multiple public hearings across the country to find out more about what it is like to be an Australian food and beverage manufacturer. At this final interstate hearing, the committee looks forward to continuing to hear from local manufacturers, as well as stakeholders from the academic, health, and recycling & packaging sectors.”

The committee will conduct further public hearings in Canberra during August 2024. Further information about the inquiry, including the Terms of Reference, is available on the Committee’s website: aph.gov.au/isr

Public hearing details

Date: Wednesday, 7 August 2024
Time: 9am to 2:30pm (AEST)
Location: Legislative Council Committee Room, Parliament of Victoria, Spring Street, East Melbourne VIC 3002
Witnesses: La Trobe University, Australian Dairy Products Federation, Independent Brewers Association, Food for Health Alliance, Food Frontier, AUSVEG, Starward/New World Whisky Distillery, Pact Group.

 

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Master Builders statement on application for CFMEU administration

MASTER BUILDERS Australia has welcomed the lodgement of the Fair Work Commission’s application seeking to place the CFMEU into independent administration.

The detailed statement read: "While we are disappointed by the exclusion of the ACT and WA, we commend the strong and positive stance of both Minister Murray Watt and the Federal Government in getting behind the application, and will seek their support for future inclusion of these key jurisdictions.

"While this is an important first step towards tackling criminality and the poor culture within the sector, far more needs to be done in order to build on the moves to date and ensure that they drive lasting and meaningful change once and for all.

"This starts with making sure strong and comprehensive protections are in place for people wishing to come forward with evidence, information, or materials to support the various investigations and inquiries underway.

"These protections must be complemented through stronger powers for regulators to receive information, obtain materials and conduct investigations in a manner that protects everyone from reprisals, payback or future adverse consequences.

"We are also calling for the Federal Government to establish one central overarching body to coordinate the various inquiries currently underway.

"Beyond these immediate actions, Government needs to look beyond the usual industrial relations landscape and be open to a more holistic and comprehensive ‘whole of government’ approach.

"History shows that the only way to comprehensively crack down on criminality and corruption is to tackle a poor culture underpinned by disregard for the rule of law.

"This poor culture is ingrained in some parts of the industry and it is this culture that allows criminals and organised crime to flourish. It also stifles productivity and increases the cost of construction at the expense of the community, taxpayers, jobs and small business.

"Fixing this once and for all can only be achieved through a comprehensive and coordinated approach involving permanent changes to create a range of industry specific laws, enforced by one dedicated industry specific regulator with the tools and powers it needs.

"It’s clear existing regulators and law enforcement units cannot operate in silos and require collective resources and the removal of legislative barriers.

"To be effective, a dedicated industry regulator must also be home to a permanent cross-jurisdictional police unit dedicated to targeting criminal activity and organised crime linked to the industry.

"We all, whether as employers, workers or union members, deserve to work in an industry that is lawful, safe and free from corruption, coercion, bullying and intimidation.

"Everyone in building and construction recognises the important role that unions play in workplaces but it’s clear some within the CFMEU have lost their way.

"This is a unique opportunity for governments of all levels to ensure that the building and construction industry is lawful, modern, safe, and productive now and in the future."

www.masterbuilders.com.au

 

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