BOTH major parties need to "re-commit to policy agendas for economic growth following the worse than expected performance by the Australian economy in the closing months of last year," according to Master Builders Australia CEO Denita Wawn. 

“The latest GDP figures from the ABS show that the economy grew by just 0.2 percent during the December 2018 quarter, a weaker result than expected,” she said. 

“Australians know that we need strong economic growth to boost living standards, provide jobs and provide the certainty and incentive for business to keep investing.

“As the nation’s second largest industry, building and construction is already a major driver of growth in the economy but worryingly, a number of components of the economy actually shrank during the quarter including new home building activity, home renovations and commercial and civil construction. 

“We want both major parties to show their commitment to an economic growth at the upcoming Federal Budget so that the slide can be halted and the policies for a new period of economic growth delivered,” Ms Wawn said. 

 “As the economy’s largest provider of full-time jobs, construction must be at the centre of the recovery. Government needs to explore ways to reduce the burden on an already heavily taxed sector, and look accelerating public works programs. 

“We want to see more shovel ready infrastructure projects out the door for construction to commence not just languishing on lists.

“We want policies that will actually increase the construction of new homes and jobs in the residential building sector rather than taking them backwards,” Ms Wawn said. 

“Stimulating building activity not only boosts demand over the short term. Well-targeted construction projects would expand the economy’s creative potential for decades to come.

“A strong construction industry builds a strong economy,” Ms Wawn said.

www.masterbuilders.com.au

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ENERGY NETWORKS Australia CEO Andrew Dillon today welcomed the Western Australian Government’s announcement of an Energy Transformation Plan.

“The power prices consumers pay are linked to the total system cost, so it makes sense to consider how the co-ordinated end-to-end power system of the future should look,” Mr Dillon said.

“It’s a positive step that a government is thinking beyond short-term rebates and starting to plan for how we manage an integrated low emissions electricity system.

“Energy Networks Australia will tomorrow be launching the first of a set of guidelines for safe, consistent and efficient connection of solar, storage and battery devices to the grid.”

Distributed energy resources (DER), which include household solar panels and batteries, present challenges to electricity grids that were not designed to handle individual energy sources.

This is why Energy Networks Australia and the Australian Energy Market Operator are working on the Open Energy Networks project. The project is investigating how best to integrate DER into Australia's electricity grid.

“Open Energy Networks is developing options to improve the electricity system to ensure household solar and storage work in harmony with a grid that was never designed for two way energy flows,” Mr Dillon said.

“As we move to greener grids, this work will help ensure reliable supply and lower household power bills for all customers.

“We look forward to seeing more detail about the WA Government’s planning program for DER integration.”

More information about the National Connection (DER) guidelines can be found here.

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THE maritime union has welcomed Labor’s commitment to create a government-owned National Fuel Reserve, describing it as an essential step to protect Australia from natural disasters or global crisis that could disrupt oil supplies.

The Maritime Union of Australia said Australia has been in breach of the the International Energy Agency’s 90-day fuel stockholding obligation since March 2012, with figures released last month showed the country had just 22 days of petrol and 17 days of diesel on hand.

MUA national secretary Paddy Crumlin said the fuel reserve commitment, along with Labor’s previous announcement of a National Strategic Fleet that will include oil tankers and gas carriers, were vital steps required to safeguard the security of an island nation that is reliant on fuel imports.

“For nearly seven years, Australia has been in breach of the IEA rules that are in place to ensure member nations have the capacity to weather unforseen disruptions to the global supply chain,” Mr Crumlin said.

“Despite countless reports warning about Australia’s lack of fuel security and the urgent need for action, the Abbott, Turnbull, and now Morrison Coalitions Governments have done absolutely nothing.

“Australia is the only developed oil-importing country without government-controlled stocks of crude oil or refined petroleum products, which has become more and more of an issue as the proportion of our fuel that is imported has risen to well over 90 percent.”

The MUA last year commissioned a report by shipping expert John Francis, Australia’s Fuel Security – Running on Empty, which found that Australia now relies on the equivalent of almost 60 full-time fuel import tankers to keep us supplied with petrol, diesel and jet fuel.

“This research concluded that the Australian economy would grind to a halt within weeks of a major crisis in the region that interrupted fuel shipments,” Mr Crumlin said.

“It also found that Australia’s reliance on foreign flagged tankers removed any opportunity for the Commonwealth to requisition national flag tankers if necessary to secure imports or coastal distribution requirements following major economic or geopolitical disruptions.

“The commitment that a Shorten Government will both create a national fuel reserve, along with a strategic fleet that includes Australian-flagged oil tangers, provide a welcome end to years of political inaction that continues to put all Australians at risk.

“The public now have a stark choice between the Liberal National Government, which has done nothing to address fuel security, and a Labor Opposition with a clear vision for protecting Australia’s economic security by creating a government-owned fuel stockpile and Australian oil tankers to bring it here.”

THE House of Representatives Standing Committee on Economics will hold public hearings in Malvern, Brighton, Mount Martha and Torquay, Victoria, for its inquiry into the implications of removing refundable franking credits.

Chair of the committee, Tim Wilson MP, said, "The committee continues to gather evidence about how the removal of refundable franking credits would affect investors, particularly senior Australians whose financial security could be compromised.

"The committee has received well over 1000 submissions, including many from retires who are concerned they will be forced on to the aged pension if the ability to claim a refund on their franking credits is removed.

"These hearings will provide an opportunity for Australians impacted by a change to refundable franking credits to address the committee directly with a three minute statement, and we welcome their contributions and participation," Mr Wilson said.

Public hearing details:

Malvern, 10am to 11.30am, Tuesday, 19 March 2019, St George's Anglican Church Hall, 296 Glenferrie  Road, Malvern, Victoria

Brighton, 2pm to 3:30pm, Tuesday, 19 March 2019, Brighton Town Hall, Corner of Carpenter St and Wilson St, Brighton, Victoria

Mount Martha, 9am to 10.30am, Wednesday, 20 March 2019, New Peninsula Centre, 370 Craigie Rd, Mount Martha, Victoria

Torquay, 3pm to 4.30pm, Wednesday, 20 March 2019, Spring Creek Pavilion, Spring Creek Reserve, Torquay, Victoria

Further public hearings will be announced as the inquiry progresses. The hearings will be webcast live (audio only).

A number of submissions have been received and are available on the committee’s webpage at: www.aph.gov.au/economics. A number of submissions are currently being processed and will be published over the coming months. Submissions can be made online or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

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