JUST CUTS, the largest hairdressing network in the Southern Hemisphere, has welcomed the announcement from Victorian Premier Daniel Andrews of additional financial support for businesses forced to close under the introduction of tougher restrictions in Melbourne and across the state.

Hairdressers are included in the business group required to cease operations from 11:59pm on Wednesday August 5 for the next six weeks.

The Premier yesterday announced businesses in regional Victoria could apply for a $5,000 grant while those in Melbourne and Mitchell Shire can apply for up to $10,000 in recognition of spending longer under restrictions.

Just Cuts CEO Amber Manning said, "The health of our clients, stylists and team has always been central to everything we do at Just Cuts. We understand the need to take these steps including the necessity of shutting down businesses however there is the undeniable and growing tension small business owners, including our salon owners, face in having to continue to cover all the other incoming bills including rent.

“The Victorian Government’s move to offset some of this on impacted businesses via the additional grants is most welcome notwithstanding the fact that not all of our owners are eligible, including a number who have been in business for less than 12 months. There is still a significant strain on our small business owners and unfortunately it’s only going to continue so we need to be exploring additional measures such as assistance with payroll tax.

“The reality is we need all State, Territory and the Federal Government to continue to move on stimulus and support measures to help us all get through this.

“We have continued to adapt as a network including by adapting online so that our owners are rebated for online purchases and we are promoting gift vouchers for clients to use when our Victorian salons are able to reopen. We are grateful for the ongoing support of our loyal clients and the ongoing professionalism and commitment of our teams.”

About Just Cuts

Just Cuts is the largest hairdressing chain in the Southern Hemisphere. There are 2500 fully qualified stylists in the Just Cuts Australian network, predominantly in shopping centres, and 3500 globally. Just Cuts has 190 salons across all states and territories of Australia, 28 salons in New Zealand and six in the UK. Just Cuts salons continue to operate including in Victoria with all the necessary recommended hygiene steps in place.

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THE Joint Select Committee on Implementation of the National Redress Scheme has agreed that the next stage of its ongoing inquiry and second interim report will give close examination to the following areas:

• Ongoing survivor experience;
• Operation of the National Redress Scheme, including decision-making frameworks and processes;
• Provision of legal advice to survivors;
• Survivor and institution participation in the scheme; and
• Responses from jurisdictions and others to the Committee’s first interim report.

The Committee is currently receiving submissions to inform the second interim report and anticipates that public hearings will take place in September 2020. A program of public hearings will be made available in due course from the website.

The Committee is aware that its inquiry work will be taking place at the same time as the legislated two year anniversary review of the National Redress Scheme currently being supported by the Department of Social Services.

The Committee wishes to clarify that the two processes are separate, the legislated two year anniversary review will report to government, and this Joint Parliamentary Committee will continue to report to the Parliament.

The Committee wishes to assure survivors who participate or contribute to the second interim report that all requests for confidentiality will be respected.

Further detail on each focus area is available on the Committee website.

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THE Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC) will appear before the House Economics Committee at a public hearing on Wednesday, August 5, 2020 as part of the committee’s reviews of the 2019 APRA Annual Report and 2019 ASIC Annual Report.

Chair, Tim Wilson MP, said, "Despite COVID-19 we are getting on with the job — the hearing will provide the committee with the opportunity to scrutinise APRA and ASIC on their performance and operation.

"The COVID-19 pandemic has created unprecedented disruption and uncertainty in the financial sector. Now, more than ever, it is essential to maintain strong prudential regulation and ensure fair and transparent dealings to safeguard financial stability and consumer trust in the financial sector."

"The committee will scrutinise APRA on how it promotes financial stability through the prudential regulation and supervision of ADIs, insurers and superannuation licensees and will scrutinise ASIC on its enforcement strategy and supervisory approach.

"ASIC’s capability is of particular interest after recent data exposed errors in their SMSF fact sheet that should have been identified with basic critical reasoning."

Public hearing details

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

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THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell said there had been an overwhelming public response to the Insurance Inquiry since it was launched last week.

“My office has already received over 150 survey responses and a number of submissions in relation to this inquiry and we anticipate that number to grow,” Ms Carnell said..

“While we are only in the early stages of the inquiry, it is clear the small business community supports the work we are doing in this area.”

The inquiry follows a growing number of complaints from small businesses who have either been denied insurance or priced out of the market.

“Over the coming months, we will be investigating the practices of the insurance industry that impact small businesses and examining whether small business insurance products are fit for purpose,” Ms Carnell said.

“I’m particularly concerned about a number of cases where small businesses with current insurance policies have been subjected to major changes that have reduced their coverage without their consent, and with no refund of premiums. Our inquiry will look at this in more detail and consider if these practices amount to Unfair Contract Terms.

“We remain very keen to hear from small and family businesses that have faced difficulties with their insurance provider," Ms Carnell said.

“I encourage these businesses to share their experiences by completing our online survey or emailing my office via This email address is being protected from spambots. You need JavaScript enabled to view it. by 30 August, 2020.

“We also welcome submissions from industry stakeholders, which can be emailed to This email address is being protected from spambots. You need JavaScript enabled to view it. by 21 August, 2020.”

A final report is expected to be released in December.

www.asbfeo.gov.au

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