TOUGH REFORMS AHEAD: PM; SERVICES SLIDE
Albanese warns of hard work, tough decisions on economic reforms
Prime Minister Anthony Albanese has marked his first 100 days in office, vowing to build a strong-growth, fair-wage and high productivity economy to deliver the next generation of prosperity for Australians. But he told the National Press Club that Australians would need to work hard and take tough decisions in the reforms for a post-Covid recovery. The PM said he hoped the Jobs and Skills Summit would herald “a new culture of co-operation”, with progress on skills and training, wages and apprenticeships.
Australia in the black on services trade
Australia racked up a $4.2 billion surplus in the international trade of services in the 2021 calendar year, despite an 18 per cent fall in the export of services. Figures from the Australian Bureau of Statistics recorded services exports at $59.1 billion and services imports at $54.8 billion; both categories were affected by travel and supply chain disruptions. New South Wales accounted for around half of both export and import of services, while China is the lead destination for services exports and the United States the lead source for services imports.
Burke gets tough on gig economy
Ahead of the Jobs and Skills Summit on September 1-2, Employment and Workplace Relations Minister Tony Burke has vowed to crack down on labour practices in the so-called gig economy. While acknowledging the use of technology, platforms and casual work, the Minister told a transport workers union forum that the Federal Government would close loopholes that allowed wages and conditions to be undercut. Mr Burke said the Fair Work Commission would have a role in determining minimum pay and conditions. He said gig work drove down wages, and had spread “like a cancer” through the economy, extending into the care economy, aged care and the National Disability Insurance Scheme.
Husic clears process for MMI grants
Industry and Science Minister Ed Husic has moved to reassure businesses that received grants this year under the Modern Manufacturing Initiative overseen by the former Coalition government. Mr Husic said an examination had found that the announced grants were all supported by an independent assessment committee and that the processes adhered to publicly available guidelines. He said that between 1 March and 17 May, 68 grants were announced under the MMI program, but more than 400 unsuccessful applicants in the Translation, Integration and Collaboration streams were not notified. The Minister said that he had instructed the Department of Industry, Science and Resources to work with successful companies and begin the contracting process.
Free nursing studies on offer in Victoria
Premier Daniel Andrews has announced a $270 million package to pay for free university and specialist training for nurses and midwives in Victoria. More than 17,000 nurses and midwives will be recruited and trained under the initiative, with the cost of nursing or midwifery undergraduate studies to be met by government; scholarships will be available for nurses who complete postgraduate studies in areas of need. The Victorian announcement is likely to put pressure on other governments to introduce similar measures, to address skills shortages.
Student debt slashed in US
Meanwhile in the US, President Joe Biden has delivered on a 2020 campaign promise to relieve debts on study loans for millions of students. Loan recipients will have their loans slashed by up to $US20,000 ($A29,000), in a cost-of-living measure; high-income earners will not be eligible for debt relief. The US Department of Education estimates that the typical undergraduate student now graduates with almost $US25,000 ($A36,400) in debt; total cumulative federal student loan debt is estimated at $US1.6 trillion ($A2.3 trillion).