THOUSANDS of people can now be sure that they will receive HomeBuilder grants with the Federal Government’s extension of the construction start date.

Master Builders Australia ceo Denita Wawn said, “The scale of the HomeBuilder success - more than 120,000 HomeBuilder applications have created huge pressure on the supply chain with Master Builders Australia’s survey of the industry showing that 70 percent of builders are being hit by delays and cost increases for key trades and building products.

“This also created the risk that thousands of HomeBuilder applicants could miss out on the grants because builders could not meet the construction start date requirements.

“Thanks to this move by the Federal Government, thousands of HomeBuilder applicants around the country can now breathe a huge sigh of relief,” Ms Wawn said.

“This will help builders and tradies maximise and manage the extraordinary success of HomeBuilder.  

“The Federal Government showed strong leadership to introduce HomeBuilder when Covid lockdowns meant thousands of builders and tradies faced a valley of death with no forward work,” Ms Wawn said.

“Thanks to HomeBuilder those businesses and jobs were saved. It’s been one of the most effective government interventions ever."

www.masterbuilders.com.au

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YESTERDAY the House Select Committee on Mental Health and Suicide Prevention released its interim report.

The committee’s interim report includes an update on the committee’s activities to date, and emerging themes identified through recent reports into Australia’s mental health system and engagement with the Productivity Commission, National Mental Health Commission and Department of Health.

Chair of the committee,Fiona Martin MP, said, "The interim report provides a snapshot of the breadth of work underway on mental health and suicide prevention. It also identifies some areas that the committee feels need further examination as the inquiry progresses.

"These areas include the divide between public and private mental healthcare, coordination and funding of mental health services, affordability, the growth of telehealth and digital services in response to COVID-19, and the role of professional bodies in advocating for, regulating and supporting the workforce."

Moving into the second phase of the inquiry, the committee will hold a series of public hearings with a range of organisations, from public and private mental health service providers to organisations representing consumers and carers, professional and peak bodies, and researchers.

The dates and locations of public hearings will be published on the inquiry website.

The interim report can be accessed on the committee’s website.

The final report of the committee is due to be presented by November 1, 2021.

The committee is unable to intervene or provide advice in relation to individual circumstances. 

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

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WITH THE AUSTRALIAN comeback underway, executives from Australia’s four major banks will appear before the House Economics Committee at public hearings on Thursday and Friday this week to discuss their response to the pandemic, the direction of the housing market, small business lending, and their progress implementing the Hayne Royal Commission recommendations.

Chair of the House of Representatives Economics Committee, Tim Wilson MP, said, "With the phasing out of taxpayer-funded COVID-19 support and mortgage deferrals, we are keen to hear what the initial data is showing on the recovery of the economy and household balance sheets.

"Surging property prices, fuelled by historically low interest rates, have left many Australian first home buyers high and dry. Many young families are forced to save larger deposits while also paying increasingly higher rents. The committee will discuss the role of banks in empowering hard-working Australians to purchase property and invest in their future," Mr Wilson said.

The hearings will also examine the four major banks’ progress in implementing the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

"It is disappointing that compliance issues regarding unconscionable conduct and misrepresentations over fees continue to come to light," Mr Wilson said. "These behaviours erode the community’s trust in financial institutions.

"These hearings give the committee an opportunity to follow up on how they can be prevented in the future so that the industry can regain the community’s trust," Mr Wilson said.

For more information about the hearings, or to read transcripts from previous hearings, you can visit the committee’s website.

Public hearing details

Date: Thursday, 15 April 2021
Time: 9.15am to 4.15pm
Witnesses: CBA, Westpac

Date: Friday, 16 April 2021
Time: 9.15am to 4.15pm
Witnesses: NAB, ANZ

Due to health and safety concerns relating to the COVID-19 pandemic, this hearing is not currently scheduled to be open for public attendance. Interested members of the public will be able to view proceedings via the live webcast at aph.gov.au/live.

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THE Australian Small Business and Family Enterprise Ombudsman Bruce Billson has welcomed the government’s proposed reforms to the Franchising Code of Conduct, including changes specific to the automotive industry.

Under the proposed amendments to franchising laws, big businesses will face penalties of up to $10 million for wilful, egregious and systemic breaches of their obligations under the Franchising Code.

The suite of reforms seeks to specifically mitigate the power imbalance between multinational car manufacturers and Australian dealers.

“These proposed changes represent significant progress and once passed, will go a long way to levelling the playing field in the automotive franchising sector,” Mr Billson said.

”They will ensure that franchise-like arrangements where dealers are operating as the car-maker’s new vehicle sales agent still benefit from the Franchising Code protections.

“The changes that apply to the automotive industry are welcome as is the government’s commitment to continue working with the automotive franchising sector to examine unfair contract terms in their agreements," Mr Billson said.

“A mandatory best practice framework will help address the ongoing issue of multinational car manufacturers who fail to follow the current voluntary principles.  Examples of small car dealers being devastated by the actions of multinational manufacturers in recent years has warranted this action.

“Higher fines for significant breaches of the Franchising Code will act as a big stick that will force the larger players to think twice before acting unfairly towards their franchisees.

“We also welcome the government’s interest in exploring arbitration to provide small businesses with access to binding and right-sized dispute resolution pathways that are less costly and faster than going through the court system – a theme pursued in our Access to Justice report," he said.

“My office looks forward to seeing the detail of this announcement and has been pleased to see the bipartisan support for the much-needed reforms to the franchising sector.     

“I continue to encourage franchisees who believe they have been unfairly treated by a franchisor or are engaged in a franchise dispute to contact my office for assistance.”

www.asbfeo.gov.au

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THE Foreign Affairs and Aid Subcommittee of the Joint Standing Committee on Foreign Affairs, Defence and Trade will hold a public hearing on Tuesday April 13 in Canberra to examine recent worrying developments in Myanmar in greater depth, and to hear from concerned sectors of Australian society about the troubling direction Myanmar has taken since the military coup of February 1.

Chair of the subcommittee, Dave Sharma MP, said, “More than 60 individuals and organisations responded to our call for expressions of interest to participate in the public hearing. There is clearly a high degree of community concern within Australia about the escalating violence and rising death toll in Myanmar, and the increasingly inhumane behaviour of the military leadership there."

Deputy Chair Julian Hill MP said,"The response from across the community has been overwhelming. On Tuesday the subcommittee will hear from individuals and organisations part of the Myanmar diaspora and community, government departments, and other experts.”

The program has been published on the Committee’s website.

The public hearing is being held with limited numbers in a controlled and COVID safe manner. The hearing will be broadcast, and can be viewed through the APH website.

Public hearing details

Date: Tuesday 13 April 2021
Time: 9.30am to 4pm AEST
Location: Main Committee Room, Parliament House, Canberra

9.30am: Open
9.30am–10.30am: Government Departments
10.45am–12.30pm: Diaspora, community groups and individuals
1.15pm–2.30pm: Experts, academics and NGOs
2.40pm–4pm: Experts, academics and NGOs
4pm: Close

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

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THE Joint Standing Committee on Migration will hold a public hearing in Sydney on Monday April 12 at the NSW Parliament.

Committee Chair Julian Leeser MP said, "Following the tabling of the interim report on 18 March 2021, the focus of the committee will be the remaining terms of reference such as the skills lists, the administrative requirements for Australian businesses and the complexity of Australia’s skilled migration program.

"Australia has always been an attractive destination for migrants and the current challenge is to ensure that we can streamline processes to make it easier for Australian businesses to find and hire the skilled workers they need," Mr Leeser said.

"Hearing from the peak associations as well as their small businesses will assist the committee in its consideration of the issues at all levels."

More details on the inquiry and the hearing program are available on the Committee website.

Public hearing details

Date: Monday 12 April 2021
Time: 9am to 5pm
Location: Macquarie Room, NSW Parliament (not open to the public)

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

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THE Joint Standing Committee on Trade and Investment Growth recently commenced an Inquiry into the prudential regulation of investment in Australia’s export industries. 

The inquiry is investigating the potential impact of changes in practices by banks, insurers and superannuation funds, as well as the advice and guidance provided by financial regulators, on the investment opportunities for Australian exporters.

Committee Chair, George Christensen MP, said the committee was particularly interested in hearing from businesses that have experienced difficulty in sourcing funding or insurance for their export businesses.

‘It is vital that the committee hear how changes in practices or guidance from financial institutions and regulators may impact on Australia’s exporting businesses, in sectors such as resources, agriculture and services. Businesses should be reassured that they can make a submission confidentially, and we can also arrange for hearings to be held in private."

Submissions from interested individuals, businesses and organisations are invited by Friday, April 30, 2021. Requests can be made for a submission to be kept confidential, or to be published with a name withheld if required.

More information about the inquiry, including the full terms of reference and further details on how to lodge a submission, is available on the committee’s webpage. The preferred method of receiving submissions is by electronic format lodged online using a My Parliament account.

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MORE INVESTORS Are prioritising investments that generate positive social outcomes and avoiding or divesting assets that harm the environment or community such as fossil fuels and gambling.

Stoic Venture Capital Partner Geoff Waring said more investors were turning to socially responsible investing strategies that allocate more towards companies in sectors such as healthcare and technology addressing climate change.

“Recent disasters such as the pandemic and NSW floods and bushfires have led more investors even further towards socially responsible investing,” Dr Waring said.

“Investors want to know that their money is working towards positive social goals and are seeking more rigorous reporting from companies about how they achieve those goals.”

Another area investors are keenly focusing on is diversity and inclusion in line with increasing community concern about progress towards equality, he said.

“Start-ups that rank higher in terms of diversity and inclusion are preferred among companies whose technology has positive social impacts,” Dr Waring said.

“Investors understand that companies which prioritise gender diversity and supporting more inclusive places for LGBTQI+ are more socially sustainable in the longer term.

“Investors are taking proactive steps to urge fund managers and companies to do more and be more transparent about advancing real change.”

Dr Waring said to answer the sustainability wishes of the public, large fund managers and individual wealthy sophisticated investors are looking at allocating more to venture capital managers as they invest in nimble and fast-growing start-ups that target big unmet environmental and social needs.

“The high performing venture capital firms will be those that concentrate on innovative and economically viable solutions to society’s big problems,” he said.

“This is seen as a more socially responsible alternative to listed equity funds that focus on more established companies using mature technologies with poorer environmental and social outcomes.

Dr Waring said socially responsible venture capital investing could generate attractive returns, but it was important that investors were careful when selecting the right venture capital managers.

“You must be rigorous in assessing whether a venture capital manager invests in genuine socially responsible start-ups, and still has the ability to generate superior returns” he said.

“These are managers that select companies who value diversity along with solving social problems or who offer sustainable solutions.

“In the long-run these companies offer investors attractive returns along with the comfort that their funds are working towards the greater good.”

About Stoic Venture Capital

Stoic Venture Capital provides financing for early-stage companies, particularly those arising from university research. Stoic is unconditionally registered as an Early-Stage Venture Capital Limited Partnership (ESVCLP) and takes a collaborative approach to investing in the highest potential companies. Atlas Advisors Australia AFOF is the major limited partner for the Fund.

www.stoicvc.com.au

Stoic Venture Capital’s investments include:

• Cardihab (Digital cardiac rehab); 

• Ena Therapeutics (Enhancing immunity to fight respiratory diseases);

• Certa Therapeutics (Drug for treating kidney disease);

• Wildlife Drones (Drones tracking animals); 

• Agerris (Agricultural robots);

• Kinoxis (Addiction rehabilitation);

• Occurx (Drug to treat eye damage from diabetes);

• Que Oncology (Breast cancer side effects treatment);

• Ferronova (Magnetic nanoparticles for cancer diagnosis); and 

• Q-Sera (Blood collection);

• PERKii (Probiotic drink);

• Occurx (Eye damage from diabetes).