TEACHERS FACE CORE TRAINING; H-POWER PLAN
New push to bolster teacher training standards
A meeting of the nation’s education ministers has agreed in principle to major reforms of teacher training, in a bid to improve teacher recruitment and retention. Federal, State and Territory ministers endorsed the inclusion of core content in teacher education programs and stronger links between teacher performance and funding of training. Ministers also committed to improve practical teaching experiences and to enhance postgraduate teacher education for mid-career entrants. Federal Education Minister Jason Clare warned that the fundamentals of education – including managing classroom behaviour – would be mandated in teacher training. Universities that did not include such fundamentals in the curriculum would risk limited or conditional accreditation. Mr Clare said presently only 50 per cent of teaching students finished their degree.
Bowen steps up case for Hydrogen Headstart program
Climate Change and Energy Minister Chris Bowen has called for public comment on eligibility provisions of the Federal Government’s $2 billion Hydrogen Headstart program. Under the program, Federal funds would be directed to at least two large-scale hydrogen generation projects. A consultation paper has proposed that eligible projects would comprise a minimum electrolysis deployment of 50 megawatts, with the Government targeting a national 1,000 MW of electrolyser capacity by 2030. The Government has also proposed that eligible hydrogen facilities would be powered by renewable energy and/or an aligned power purchase or surrender arrangement.
Farrell seeks to revive EU free trade talks
Trade Minister Don Farrell is seeking to re-start stalled trade negotiations with the European Union in Brussels as Australia works towards signing a free-trade deal with the EU. Senator Farrell admitted that “negotiations remain difficult”, but the Federal Government was committed to the best possible deal for Australian businesses, farmers, and workers. He said a trade agreement with the EU would unlock an overall market of 445 million people and gross domestic product of $24 trillion. As a bloc, the EU was Australia’s third-largest trading partner, with total two-way trade worth $97 billion in 2021-22.
Trade surpluses driving economic growth
Meanwhile, economic growth in Australia continues to be underpinned by the nation’s export performance, with a trade surplus of almost $11.8 billion recorded in May. The Australian Bureau of Statistics said that exports rose by $2.4 billion, or by 4.4 per cent, seasonally adjusted, in May, while imports increased by $1.1 billion, or by 2.5 per cent. Monthly exports of services – which includes transport, travel and tourism – finally recovered to their pre-Covid peak recorded in November 2019.
Don’t rule out more rate rises, says RBA head
Reserve Bank of Australia Governor Philip Lowe has warned of further interest rate rises if wages growth is not accompanied by productivity improvements. Dr Lowe said the combination of higher interest rates and cost-of-living pressures was leading to a substantial slowing in household spending. But the risk remained that expectations of ongoing high inflation would contribute to larger increases in both prices and wages. Dr Lowe’s comments came as the RBA board maintained the cash rate at 4.1 per cent.
Finance Minister plays down infrastructure-inflation link
Finance Minister Katy Gallagher has dodged questions on whether government spending on large infrastructure projects is fuelling domestic inflation. In a media interview, Senator Gallagher admitted that cities and regions were seeing significant growth and pressure from infrastructure; as a result, the states and territories were working with the Federal Government on how to phase infrastructure expenditure. But she said these project discussions were not an admission that the infrastructure works were pumping too much money into the economy and driving inflation.