THE Agriculture and Water Resources Committee will be travelling to Wagga Wagga on Friday, February 7, as part of its Inquiry into growing Australian agriculture to $100 billion by 2030.

The Committee will be inspecting the research facilities at Charles Sturt University and then holding a public hearing at the university.

The Committee chair, Rick Wilson MP, said, “Charles Sturt University has a strong focus on partnering with industry to develop new precision agriculture techniques and technologies. The Committee looks forward to discussing with Charles Sturt the outcomes of this research and how to ensure Australian farmers have the opportunity to become early adopters of innovative technologies.”

Public hearing details

Date: Friday, 7 February 2020
Time: 12.30pm to 4.45pm
Location: Convention Centre, Building 230, Charles Sturt University, Wagga Wagga

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

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QUEENSLAND Resources Council (QRC) chief executive Ian Macfarlane has release a statment on the currnet on mining safety reviews.

"QRC has welcomed the release of the Brady Review into Mining and Quarrying fatalities and two University of Queensland expert legal assessments of coal mining and mining and quarrying legislation," Mr Macfarlane said.

"These reports represent a wealth of information that the resources industry can use to further enhance safety. Last July, QRC committed to working with Minister (Paul) Lynham on the outcomes of these reviews. We restate that commitment now and congratulate the Minister on initiating these important reviews.

"QRC endorses all of the recommendations of the Brady Review.  The report represents a detailed analysis of the fatalities, serious accidents and high potential incidents that have occurred in the Queensland mining and quarrying industries over the last 20 years. 

"It contains information that industry as a whole can use, as well as being a resource that individual operations can use to help them better manage hazards at their own sites. We thank Dr Sean Brady for his detailed work," Mr Macfarlane said.

The Brady Report identified: “The six fatalities that occurred between July 2018 and July 2019 have been described by some in the industry as evidence of an industry in crisis, but a bleaker assessment is that this is an industry resetting itself to its normal fatality rate.”

Mr MacFarlane said, "This is a very sobering assessment that the industry takes seriously. QRC commits to redoubling efforts to do everything possible to maintain vigilance and remain safe.

"QRC fully accepts that while the mining industry has inherent risk we must always improve the focus on the practical actions that can keep our workers safe. QRC will now undertake further detailed review of Dr Brady’s findings as a matter of urgency.

"We also acknowledge the imminent passage of the Resources Safety and Health Queensland (RSHQ) Bill, which arose out of the CWP inquiry," he said.

"QRC looks forward to working with the Minister, the resources safety inspectorate and worker representatives during the creation of RSHQ.

"QRC is also coordinating work with experts and companies to identify practical programs to implement safety principles identified in Dr Brady’s report.

"The Queensland resources industry is determined to remain a leader in safety, and the industry commits to using the findings of Dr Brady’s report to identify new ways to improve safety for all workers.

"QRC also supports in principle the recommendations of the UQ Legislative Effectiveness Review and looks forward to a full analysis of the respective reviews by the Ministerial Advisory Committees."

www.wrc.org.au

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THOUSANDS of small businesses will see the benefits of faster payment times after Rio Tinto moved to 20-day payment terms for 90 percent of its suppliers.

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell said this was excellent news for small businesses that trade with Rio Tinto.

“Rio Tinto is showing corporate leadership by changing its payment terms to within 20 days of receipt of invoice, and we are encouraging other big businesses to do the same,” Ms Carnell said.

“We welcome Rio’s new policy, which expands the definition of small business from being those who supply up to $1 million of goods and services to the miner, to also include businesses with annual turnover of up to $10 million. This is a positive move that the small business community will welcome.

“Rio Tinto is demonstrating it understands the needs of Australian small businesses," Ms Carnell said. “Cash flow is always king for small businesses and we know that by paying small businesses on time, the whole economy benefits.

““Both our Payment Times Inquiry and our Insolvency Practices Inquiry show that cash flow is the leading cause of insolvency.

“Overall, Rio Tinto is setting an example on payment times and this should be the benchmark for all big businesses in Australia.”

www.asbfeo.gov.au

THE Joint Committee of Public Accounts and Audit will hold its first public hearing in Canberra on Friday, 7 February 2020 as part of the Inquiry into the Administration of Government Grants of a number of Government programs and initiatives.

The hearing relates to two Auditor-General’s Reports: Report No. 5 (2019-20), on the topic of the Australian Research Council’s Administration of the National Competitive Grants Program; and Report No. 12 (2019–20), on the topic of the awarding of Funding Under the Regional Jobs and Investment Packages

The public hearing program and further information about the inquiry is available on the Committee’s website.

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THE House of Representatives Trade and Investment Growth Committee will boldly go where no committee has gone before this week, with a hearing on Friday looking to the stars.

Committee chair George Christensen said the hearing is part of a broader inquiry to seek out and explore the challenges and opportunities faced by Australia’s exporters.

"One of the issues we’ll be looking at on Friday is the potential impact of future export and investment opportunities, including emerging sectors such as Australia’s space industry," Mr Christensen said.

"Australia has an opportunity to be a big part of the growing space industry, which will generate innovation, new technologies and jobs for the future."

The committee will also hear from witnesses in the medicines and health, agriculture and advanced manufacturing industries, as well as small business representatives.

"We know that small businesses are underrepresented in export markets, and often don’t have the significant resources needed to move into exports," Mr Christensen said.

"We are looking forward to hearing about how Australian small businesses can be supported to succeed internationally."

More information about the inquiry, including a full program for Friday’s public hearing, is available on the Committee’s webpage.

Public hearing details 

Date: Friday, 7 February 2020
Time: 9am to 2.30pm
Location: Committee Room 1R4, Parliament House, Canberra

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

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PEARL ABYSS has announced that donations amounting to a total of 100 million won (about US $84,000) will be made through a Black Desert and Black Desert Mobile in-game event. The donation will be made to assist victims of the unprecedented wildfires in Australia and devastating earthquake in Turkey.

The donation event is running globally until February 19, which encourages both Black Desert and Black Desert Mobile users to make donations to support Australia and Turkey.

During the event, users can purchase special tokens with silver to make a contribution that will go towards relief efforts. Pearl Abyss will be able to donate 100 million won when the number of tokens sold reaches 5 million in total. The donation will be delivered to local aid organizations, with 50 million won going to Australia and another 50 million won going to Turkey. 

"We have prepared a love-sharing event to encourage our Adventurers from around the world in Black Desert and Black Desert Mobile to participate in the in-game donation," Pearl Abyss CEO Robin Jung said. "We hope that the restoration in Australia and Turkey will be quick, and the victims can return to their daily life as soon as possible."

Last April, Pearl Abyss donated 100 million won through the Korea Disaster Relief Association to help victims recover from wildfires in Gangwon-do, Korea. The donation was used to support relief efforts. A donation was also made to Doctors Without Borders in December through an in-game event with the help and support of Black Desert users from around the world. 

About Pearl Abyss

Established in 2010, Pearl Abyss has developed the MMORPG franchise Black Desert for PC, mobile, and console. All their games are built on their proprietary engine and are renowned for their cutting-edge graphics. With multiple projects in the works, they are poised to continue their growth through 2020 and beyond to maintain their position as a leading developer in the game industry. www.pearlabyss.com

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THE House of Representatives Standing Committee on Economics will hold a public hearing with the Governor of the Reserve Bank of Australia (RBA), Philip Lowe, on Friday, February 7, 2020 in Canberra.

Since the RBA appeared before the committee during the previous Parliament in August 2019, the RBA has eased monetary policy by 25 basis points to 0.75 percent, following the RBA’s decisions to cut the cash rate in October. At its meeting yesterday, the RBA decided to leave the cash rate unchanged at 0.75 percent.

Commenting on the decision to keep rates on hold, the RBA Governor said, "The central scenario is for the Australian economy to grow by around 2.75 percent this year and 3 percent next year, which would be a step up from the growth rates over the past two years. In the short term, the bushfires and the coronavirus outbreak will temporarily weigh on domestic growth.

"Due to both global and domestic factors, it is reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target."

The Chair of the House Economics Committee, Tim Wilson MP, said, "The committee will examine the decisions of the RBA in the context of Australia’s broader macroeconomic conditions and assess the RBA’s confidence in current monetary policy settings which aim to encourage growth and keep inflation consistent with the target over the coming years."

Public hearing details

Date: Friday, February 7, 2020
Time: 9.30am to 12.30pm
Location: Committee Room 1R1, Parliament House

The hearing will be audio cast live at aph.gov.au/live.

THOUSANDS of Australian small businesses will see the benefits of faster payment times, after Telstra announced it will move to 20-day payment terms for SMEs.

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell said it was a fantastic result for the small business community.

“Telstra is leading by example with its commitment to faster payment times and there’s no reason why other big businesses shouldn’t adopt the same practices,” Ms Carnell said.

“By changing its payment terms to within 20 days of the receipt of invoice for any business that supplies up to $2 million worth of goods or services, Telstra is recognising the needs of this important sector.

“Cash flow is always king for small businesses and never more so than now, particularly for small businesses in bushfire affected communities.

“Telstra’s efforts will make a considerable difference to 85 percent of its suppliers. These are mostly small businesses that no longer need to accept a supply chain finance option to be paid as they should be.

“We know that by paying small businesses on time, the whole economy benefits," Ms Carnell said. “Both our Payment Times Inquiry and our Insolvency Practices Inquiry show that cash flow is the leading cause of insolvency.

“Telstra CEO Andy Penn has also indicated a need for a standard, consistent definition for Australian small businesses and I couldn’t agree with him more. Our Supply Chain Financing Review is showing the definition of a small business continues to be a major point of confusion and a unified approach would benefit Australian small businesses greatly.

“My office is committed to continuing to work with the business community to agree on a standardised definition," she said.

“Overall, Telstra is showing real corporate leadership and other businesses are encouraged to follow its lead.”

www.asbfeo.gov.au

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