CANBERRA will play host to a meeting of parliamentarians from around the world, with the 28th Asia Pacific Parliamentary Forum to be held at Parliament House in January.

The APPF is an annual forum where national parliamentarians from the Asia Pacific region meet to identify and discuss important matters of common concern.

Speaker of the House of Representatives and president of the APPF Executive Committee, Tony Smith MP, said the forum would bring together more than 300 delegates from parliaments from the 27 member countries and another 11 observer countries.

"Since the first APPF in 1993, the forum has been an incredible opportunity for parliamentarians to share experiences with colleagues from around the world," Mr Smith said.

"I’m especially pleased that in 2020, the forum will welcome delegates from countries in the Pacific Island Forum.

"Events such as APPF28 form part of the Australian Parliament’s International Program, which helps to promote understanding, sharing of knowledge and democratic development with our fellow parliaments around the world."

Australia was one of nine originating countries of the APPF. The Australian Parliament hosted the second preparatory meeting in Canberra in 1991 before the inaugural meeting of the APPF in January 1993 in Tokyo. Australia last hosted the APPF in 2000.

Delegates will participate in a number of plenary sessions, discussing subjects such as security, economics and trade, and regional cooperation. At the conclusion of the forum, a joint communique will be published, outlining all agreed resolutions from APPF28.

For more information about the forum, visit appf28.org.

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THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has welcomed Coles Group’s announcement of adopting world-class core finance and procurement platforms, saying this should translate into quicker payment times for small to medium enterprises (SMEs) in its supply chain.

“We hope this digital transformation will mean all SMEs will be paid in 20 days or less, without discount,” Ms Carnell said.

“Better still, if Coles can implement e-invoicing for all SMEs in its supply chain, businesses should be able to be paid in five days.

“If the Federal and NSW Governments can pay suppliers in five days, Coles with its ‘multi-enterprise connectivity’ and improved speed should be able to do so as well.

“Coles Group works with an enormous number of farmers and suppliers across our nation. We hope Australia’s SMEs will directly benefit from this digital transformation.”

www.asbfeo.gov.au

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THE NUMBER of owner occupier loans relating to new homes reached a 14-month high during October while investor participation in the market also stretched higher, according to Master Builders Australia chief economist, Shane Garrett. 

Today’s new set of figures from the ABS indicate that the number of loans to owner occupiers for new home building rose by 5.5 percent during the month, with the number of loans for the purchase of new dwellings up by 1.3 percent compared with September. Taken together, this means that the volume of loans relating to new homes has reached its highest level since August of last year. 

“There is also solid evidence that confidence has is returning to the investor side of the market with the value of lending on that side of the market up by 1.4 percent during October. Having declined for 11 straight months since mid-2018, investor lending has turned around registering increase during four of the past five months,” Mr Garrett said. 

“Based on recent results around building approvals, house prices and lending, it does seem that people are optimistic about the prospects for the housing market in 2020. Activity is going to get a further boost in January with the activation of NHFIC’s First Home Loan Deposit Scheme,” he said. 

“Managed properly, the clear improvement in housing market sentiment could help re-ignite confidence amongst consumers more widely and across the business community. The absence of optimism amongst these players is one of the main stumbling blocks for economic growth at the moment.

“The best way to build momentum is for the government to do everything it can to get new infrastructure projects rolling as early as possible. Building and construction projects are highly visible and represent the best way to signal to everyone that we are gearing up for a bright economic future,” Mr Garrett said.

www.masterbuilders.com.au

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“THE Mid-Year Economic and Fiscal Outlook (MYEFO) released this morning shows that short-term prospects for economic growth and employment are weaker than was expected six months ago,” Denita Wawn, CEO of Master Builders Australia said. 

“While we welcome the expectation that we will still record a Budget surplus this year -- and continue to do so over MYEFO’s forecast horizon, the immediate priority must be for the Federal Government to redouble its commitment to economic growth,” she said. 

“Fast-tracking the actual construction of infrastructure projects so that there is money being spent to generate activity on the ground is the most effective way to achieve to this. 

“Our industry depends on growth to be the biggest provider of full time jobs in the economy. The Federal Government has enough fiscal space to boost demand in the economy while still achieving budgetary surplus.

“An expanded productivity agenda is also needed to build on the government’s continuing initiatives such as the deregulation taskforce to strengthen economic growth over time,” Ms Wawn said. 

“The government still needs to look at ways of providing an immediate and effective boost to demand in the economy to get us over the soft patch we currently find ourselves in.

 “Ramping up spending on construction of infrastructure is the best course of action. It offers a real opportunity to restore confidence amongst households and businesses and send everyone the message that our economy’s best days lie ahead of us,” Ms Wawn said.

www.masterbuilders.com.au

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