QUEENSLAND’s attractiveness as an investment destination for mining has dropped out of the global top ten according to a report from Canada’s Fraser Institute highlighted by the Queensland Resources Council (QRC).
QRC Chief Executive Ian Macfarlane said the clear message is that global investors have marked Queensland down because of policy uncertainty.
"Investors don’t like surprises, which is why the sector is always talking about the need for policy certainty," said Mr Macfarlane.
"The Queensland Government needs to be aware investors are watching every potential change in policy as having a direct impact on the investment profile of the State.
THOUSANDS of anonymous reports from concerned members of the community are assisting the Fair Work Ombudsman to target unlawful practices in workplaces across Australia and deliver outcomes for workers who might otherwise not seek help.
Since the launch of its Anonymous Report tool in mid-2016, the regulator has received more than 20,000 tip-offs alleging potential workplace breaches.
The reports from the public are leading to positive outcomes for vulnerable workers who may be unwilling or unable to reveal their identity and approach the Fair Work Ombudsman.
In one matter, Fair Work inspectors conducted an unannounced visit at a Sydney retail business after receiving an anonymous report alleging employees received as little as $8 per hour, cash in hand.
An audit of the company’s records uncovered evidence of contraventions in relation to pay rates, break entitlements and pay slip requirements.
Inspectors issued the company with a Compliance Notice and a contravention letter, resulting in approximately $50,000 in wages and entitlements being paid back to workers.
The company also increased pay rates to ensure compliance in the future.
The JCPAA is a central committee of the Parliament with the power to initiate its own inquiries on the Commonwealth public sector.
The Committee has inquired into the Defence Major Projects Report on an annual basis since 2009 and will continue its oversight of the reporting of major Defence acquisitions through its inquiry into the 2016-17 Major Projects Report.
The total approved budget for the Major Projects included in this report is approximately $62 billion, covering nearly 59 per cent of the budget within the Approved Major Capital Investment Program.
The Committee invites submissions to the inquiry by Friday, 9 March 2018. A public hearing will be held on Friday, 23 March 2018.
Further information about the inquiry can be accessed via the Committee’s website.
Chair of the Defence Sub‑Committee, Senator Linda Reynolds CSC, said the Sub-Committee will hear from representatives from the defence industry, unions, academia and Defence on the risks and benefits of reaching a bipartisan agreement on defence capability planning.
“Strategic planning for Australia’s Defence is one of the fundamental tasks of government,” Senator Reynolds said. “The Sub-Committee looks forward to meeting with defence industry experts to explore options for providing long-term stability for the planning of Australia’s Defence capabilities, including a possible bipartisan defence agreement.”
Public hearing details: 9:00am to 2:30pm, Friday 23 February, Committee Room 1R3, Parliament House, Canberra
The full program for Friday’s hearing is available from the committee’s website.
THE House of Representatives Standing Committee on Economics will conduct public hearings on 11, 12 and 19 October in Canberra as part of its ongoing scrutiny of Australia’s four major banks.
The Chair of the committee, Sarah Henderson MP, stated that "these hearings provide an important mechanism to hold the four major banks to account before the Parliament".
"The hearings will be conducted shortly after the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry hands down its interim report which is due by 30 September 2018. This will provide the committee with an important opportunity to scrutinise the banks on a range of matters including the interim findings of the Royal Commissioner," Ms Henderson said.
The committee has held three rounds of hearings and published three reports in November 2016, April 2017 and December 2017. The committee has made a suite of recommendations for banking reform, which have been broadly adopted by the Government.
Key reforms to improve outcomes for Australian consumers to date include: putting in place a one-stop shop for consumer complaints, the Australian Financial Complaints Authority; a regulated Banking Executive Accountability Regime; and, new powers and resources for the ACCC to investigate competition issues in the setting of interest rates.
The Government also adopted the committee's recommendations to establish an open data regime and change the regulatory requirement for bank start-ups in order to encourage more competition in the sector.
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