QUEENSLAND'S resources industry received the not-so-sweet news this week that it now ranks number 16 out of 77 jurisdictions in the world in terms of investment attractiveness.

Queensland has dropped an alarming six points over the past five years according to the the Fraser Institute’s Annual Survey of Mining Companies 2020, well behind Western Australia’s ranking of four and South Australia at seven.

Queensland Resources Council chief executive Ian Macfarlane has expressed disappointment at the ranking but said the State Government’s commitment to implement a post-COVID Resources Industry Development Plan could help return the state to global favour.

“Mining delivers governments an incredible return on investment through taxes, royalties and employment opportunities but global companies feel more comfortable investing their money into regions where governments are openly and actively supportive of their business,” Mr Macfarlane said.

“I’m pleased to say there’s been a marked turnaround in the Queensland Government’s attitude towards mining over the past 12 months, demonstrated by a commitment to a new industry development plan, so the resources sector is feeling much more optimistic for the future.

“We’re hopeful the implementation of a forward-thinking, dynamic industry plan will lead to a return to the days when mining was celebrated in Queensland and people were proud of the innovations and accomplishments of our sector.”

Mr Macfarlane said Queensland had abundant mineral and gas reserves and a skilled local workforce, but needed the right policy settings to attract the eye of international investors.

As further evidence Queensland has some work to do, this year the state ranked number 29 on the survey’s Policy Perception Index, which measures the local policy and regulatory environment to exploration investors.

This is the worst score in Australia and well behind Western Australia at 11, South Australia at 16 and Tasmania at 25.

Mr Macfarlane said this outcome wasn’t surprising, with the QEC’s 2020 Exploration Scorecard identifying policy uncertainty as a barrier to exploration investment in Queensland.

“Improving the perception of Queensland’s policy environment is vital to the future growth of our exploration sector, and the QRC looks forward to working collaboratively with the State Government on the Resources Industry Development Plan to achieve this,” he said.

The survey’s Best Practices Mineral Potential Index ranked Queensland at 15, which is again behind Western Australia (6), South Australia (8) and the Northern Territory (14).

www.qrc.org.au

ends

A SELECT committee on mental health and suicide prevention has been established to consider a range of strategic reviews of the current mental health system, and whether the recommendations are fit for purpose to address the fallout from bushfires and the COVID-19 pandemic.

The Chair of the House of Representatives Select Committee on Mental Health and Suicide Prevention, Dr Fiona Martin MP said, "While the bushfires were catastrophic, it was the emergence of COVID-19 that has changed everything. Over the last year, COVID-19 has had a significant effect on the mental health of many Australians through increased isolation, job loss and financial stress.

"In addition, there has been a reduction in access to face-to-face mental health services, with many changing to telephone support models, while crisis organisations and suicide prevention services experience higher demand. However, it has also seen innovation prioritised and communities rally to support one another."

The committee will begin the inquiry by reviewing the findings of the Productivity Commission Inquiry Report into Mental Health, the Report of the National Suicide Prevention Officer, the Victorian Royal Commission and the National Mental Health Workforce Strategy. It will then turn its attention to the experiences and successes of mental health and suicide prevention stakeholders, from grassroots services through to international initiatives.

The committee is accepting written submissions addressing one or more of the terms of reference and invites individuals and organisations to share their views with the committee. The closing date for submissions is March 24, 2021. A guide to making a submission can be found on the website.

The committee will also hold hearings as part of this inquiry so that it can hear from people who have relevant experience or expertise. The dates and locations for the committee's hearings will be published on the inquiry website.

The Committee is unable to intervene or provide advice in relation to individual circumstances. If you are in immediate danger, please contact 000. If you or someone you know needs help, contact one of the services below:

Lifeline Australia 13 11 14
Suicide Call Back 1300 659 467
Kids Help Line 1800 551 800
BeyondBlue 1300 224 636
eheadspace 1800 650 890

ends

AUSTRALIA'S ‘bricks and mortar’ retail industry experienced a challenging 2020. Now, new research from a leading parcel delivery service reveals the solutions retailers believe will help the entire retail industry bounce back this year.

The findings come from an independent survey of 172 Australian retailers, commissioned by CouriersPlease (CP). 

When CP asked retailers about their own recovery, a third (36 percent) said they would be able to recover to pre-pandemic levels between July and December this year. Just a quarter (24 percent) revealed their recovery could be in July. Thirteen percent said their recovery would depend on restrictions lifting completely, and 8 percent said recovery would take place after 2021.

CP then presented retailers with a list of potential solutions that could help the retail industry recover faster – including an extension of the JobKeeper scheme and tax incentives from the government. CP asked retailers to choose what they think the industry needs to bounce back once social restrictions are removed. Respondents could choose multiple answers.

The majority of retailers (42 percent) believe an effective treatment or vaccine is needed, 34 percent said further government assistance to help them pay employee salaries, such as an extension of the JobKeeper scheme; 27 percent said tax incentives from the government; and 17 percent believe further cashback incentives from the government are necessary for the industry’s recovery.

One fifth (22 percent) of retailers said a recovery would require more cash for consumers to help boost their confidence. Consumer confidence fell by 27 percent when social restrictions were enforced last year.[1]

Paul Roper, chief commercial officer at CP said, "The retail industry has a long way to go to recovery. While e-commerce has remained strong, many bricks and mortar retailers were forced to close their doors last year. The end of JobKeeper in March, a slow rollout of the NSW Government’s Dine and Discovery voucher scheme and continuing COVID cases across the country, including the recent spike in cases in Melbourne, are just a few of the factors that could lead to cautious consumer spending this year.

“I encourage these retailers to consider shifting to, or growing, their online or omnichannel offering as more Australians become comfortable with online shopping. A number of support measures remain at retailers’ disposal, including the SME Guarantee Scheme and the instant asset write-off scheme.”

The full survey results, including breakdowns across organisation size and industries, can be found here: couriersplease.com.au/Portals/0/CP_Retail_Industry_White_Paper_230221.pdf

[1] Roy Morgan, March 2020 roymorgan.com/findings/8340-anz-roy-morgan-consumer-confidence-march-24-2020-202003232236

ends

CPA AUSTRALIA has welcomed the permanent increase in the rate of JobSeeker, announced today, but says the amount of the rise may not be sufficient.

CPA Australia chief executive officer Andrew Hunter said, “For many unemployed workers the JobSeeker payment doesn’t provide adequate support or security. An increase was overdue before the pandemic.”

CPA Australia called on the government to permanently increase the rate of JobSeeker in its 2021-22 Federal Budget Submission.

Mr Hunter said, “We’re pleased the government has announced an increase in JobSeeker but the new rate still won’t provide adequate support or security to many recipients.

“A wide range of views have been expressed as to why today’s announcement is justified. We join this consensus from an economic and societal perspective.

“It doesn’t make sense to leave so many households struggling to make ends meet in these difficult times," he said.

“One of the surest ways to get money circulating in an economy is to assist people who will spend it. JobSeeker recipients have limited capacity to save and will use additional amounts to buy goods and services that support business and the economy.

“From a public interest perspective, people who are unable to find work shouldn’t be denied the ability to afford the basics; they shouldn’t be excluded from actively participating in society.

CPA Australia has recommended the government establish a regular review process for JobSeeker, similar to annual wage reviews conducted by the Fair Work Commission.

About CPA Australia

CPA Australia is Australia’s leading professional accounting body and one of the largest in the world. CPA Australia has  more than 168,000 members in over 100 countries and regions, supported by 19 offices globally. Core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. CPA engages with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. cpaaustralia.com.au

ends

THE Indigenous Affairs Committee will hear from Woolworths Group and Aboriginal Peak Organisations Northern Territory (APO NT) this Thursday as part of its inquiry into pathways and participation opportunities for Indigenous Australians in employment and business. Witnesses will be attending by conference call.

Committee Chair Julian Leeser MP said both organisations would provide valuable insights to the inquiry as Woolworths is an industry leader in Indigenous recruitment and APO NT is a respected voice in Aboriginal governance.

"Woolworths currently employs over 4,500 First Nations people," Mr Leeser said. "Since partnering with the government under the Employment Parity Initiative, more than 2,800 Indigenous job seekers have been offered employment with the company.

"APO NT has long been an advocate for Indigenous self-determination and economic development. The committee looks forward to discussing ways to reduce barriers to Indigenous participation and economic opportunities at this hearing," Mr Leeser said.

Public hearing details

Date: Thursday, 25 February 2021
Time: 11.40am to 12.50pm AEDT

A live audio stream of the hearing will be accessible at https://www.aph.gov.au/Watch_Read_Listen.

A full program will be available at the inquiry website.

ends

THE Queensland Resources Council (QRC) has welcomed the Australian Government’s decision to hold an inquiry into the impact of recent banking and insurance policy changes on export industries like resources.

The QRC will provide a submission to the Joint Standing Committee on Trade and Investment Growth to highlight increasing concerns about the impact of ‘anti-resources activism’ on the ability of some businesses to renew insurance policies, particularly public indemnity insurance, and their ability to access finance.

“This is an extremely serious situation for the resources sector and will lead to job losses and businesses closing down as no business can operate without access to adequate insurance and finance,” Mr Macfarlane said.

“As an example, the issue with public indemnity insurance is a problem because our members require all contractors and suppliers to have this cover or we cannot engage them to provide goods and services.

“It is becoming a massive issue, which is why the QRC is urging every Queensland business associated with mining and gas operations having problems with insurance or finance - whether it’s dealing with unreasonable premium increases or being refused cover or finance - to provide a submission to this inquiry before the closing date of March 31."

Mr Macfarlane said ‘anti-resources activism’ is starting to affect smaller businesses in vital regional centres like Mackay, Rockhampton, Townsville and Toowoomba.

“The QRC is hearing anecdotal evidence about regional businesses having problems renewing insurance policies or loan refinancing or even rental agreements because of their association with the resources sector,” he said.

“This is not only unfair and could put people out of business, but it’s very disappointing given resources has helped steer Queensland through the COVID-19 pandemic and resources is Australia’s number one export industry.

“The law-abiding businesses that work in and with the resources sector have every right to expect fair terms for banking and insurance and we want this inquiry to shine a spotlight on cases where that is not happening.”

Mr Macfarlane said it is in the national interest for a strong resources sector to continue to flourish.

“In Queensland alone the resources sector adds $82.6 billion to the economy and supports more than 420,000 jobs,” he said.

“All Australians benefit from a strong resource sector so we should be taking steps as a nation to further consolidate our position as a global leader, especially as Queensland resources are set to play a critical role in the further uptake of renewable energy sources and technologies around the world.

“The technical nous that will support this innovation lives in the Mining Engineering and Technology Services (METS) companies who are most affected by this insurance drought.

“We can’t do this without the support of the small businesses and expertise in our regional centres.”

www.qrc.org.au

ends

THE Australian Competition and Consumer Commission (ACCC) will appear before the House of Representatives Standing Committee on Economics at a public hearing on Wednesday, February 24, 2021 as part of the committee’s review of the 2019 ACCC Annual Report.

Chair, Tim Wilson MP said, "The committee is keen to continue scrutinising the ACCC on its pandemic response, enforcement, its review of hardship policies and in maintaining and promoting competition.

"Of particular interest, is the ACCC’s approach towards regulating the tech giants. Google, Facebook and Apple are dominant forces that could threaten competition and consumer interests. The committee is also interested in the ACCC’s role in the preparation and consultation phase of the News Media Bargaining Code currently before Parliament."

"The COVID-19 pandemic is not over. There’s still uncertainty in the accommodation and travel sectors as border closures and lockdowns continue. While mergers of struggling companies also warrant close examination," Mr Wilson said.

The ACCC last appeared before the committee in October 2020.

Public hearing details
Date: February 24, 2021
Time: 11am to 1pm
via videoconference

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

ends

AN AUSTRALIAN portable entitlement scheme is now desperately needed and would be practical to introduce if based on proven models, according to a new report by the McKell Institute.

A portable entitlement scheme would see accumulated benefits like long service leave and sick leave follow workers from job to job in an account, like superannuation.

The new McKell Institute report, Insecure Work & Portable Entitlements: a solution for Australia, has found a scheme that allows Australians to carry entitlements like from job to job could be modelled on successful schemes that currently exist in sectors like Victorian construction.

A portable entitlement scheme was recently identified by Opposition Leader Anthony Albanese as an area of intended reform, but the Federal Government has so far attempted to dismiss the idea as impractical. 

But report author Ryan Batchelor, executive director of the McKell Institute Victoria, said the case for a more universal portable entitlement scheme was now impossible to responsibly ignore. 

"When one in five workers changed jobs in the past year and 3.7 million have no access to paid leave that should tell us we need a portable entitlement scheme urgently," Mr Batchelor said. 

“COVID-19 has shown how vulnerable we all are when people without enough sick leave show up to work sick. Fortunately, there are now a range of practical models for implementation, several of which with proven real world track records. 

"The Commonwealth should get on board instead of trashing a good policy idea before they’ve even had a chance to properly consider it.

"Our report shows there are actually significant benefits for the government, which currently picks up the tab when companies go bankrupt and workers lose their employees through the Fair Entitlements Guarantee. Claims that the sky will fall in are simply not borne out by the facts," Mr Batchelor said.

"Australians are extremely comfortable with the idea of superannuation, and a portable entailment scheme would be analogous and familiar.

"The pandemic has shown us the significant cost of people turning up to work when sick. Any extra costs from providing more people with sick leave pale by comparison with the costs of this pandemic on our community.

"Australia invented long service leave as one of our many civilising workforce innovations. It's now time we built on that proud legacy."

ends