WHITE PAPER’S SKILLS PUSH; $22B SURPLUS
National Skills Passport heads full employment push
Twelve months after its Jobs and Skills Summit, the Federal Government has released the Employment White Paper, recommitting to a goal of full employment and tackling underutilisation in the labour market. Treasurer Jim Chalmers announced the development of a National Skills Passport as an immediate step to help workers to demonstrate their qualifications and to assist businesses to find more skilled workers. Other immediate policy steps in response to the White Paper include extending the Work Bonus measure to encourage older pensioners and eligible veterans in the workforce, and supporting social enterprises to address persistent labour market disadvantage. The White Paper claimed that around three million people in Australia – or one-fifth of the current workforce – wanted to work or sought more work hours.
Surging company taxes fuel $22 billion budget surplus
Australia’s final budget outcome for 2022-23 has resulted in a $22.1 billion surplus, fuelled by strong company tax receipts that helped to achieve a $100 billion turnaround in budget projections. Treasurer Jim Chalmers and Finance Minister Katy Gallagher said the budget surplus was Australia’s first in 15 years, aided by lower unemployment and a strong contribution from the resources sector. Company tax receipts were $12.7 billion higher than estimated in the 2023-24 Budget, while net debt has fallen below $500 billion. The Treasurer said payments were $4 billion lower than forecast, with reduced spending on programs and a deferral of some projects because of capacity constraints. At the time of the pre-election economic and fiscal outlook (PEFO) in May 2022, the 2022-23 budget was forecast to deliver a $77.9 billion deficit, with net debt at almost $715 billion.
PM calls inquiry into Covid-19 response
Prime Minister Anthony Albanese has announced an inquiry into Australia’s response to the Covid-19 pandemic, which struck in early 2020. The PM said the inquiry would review what worked well in the response and what the nation could do better to improve Australia’s preparedness for future pandemics. But the 12-month inquiry will only consider the Commonwealth’s response to Covid-19, including the coordination of National Cabinet, and not the response of individual states and territories. Mr Albanese said areas to be covered included: the provision of vaccinations, treatments and key medical supplies to Australians; mental health support for those impacted by Covid-19 and lockdowns; financial support for individuals and businesses; and assistance for Australians abroad.
University student contributions to rise 7.8 per cent in 2024
University students will pay an increase of 7.8 per cent on their financial contributions to their studies in 2024, with the highest loads again borne by law, business and arts undergraduates. Fee details released by the Federal Department of Education reveal that law, commerce, communications and arts students will pay a (full-time) maximum contribution of $16,323 in 2024, up from $15,142 this year. Students in medicine, veterinary science or dentistry will contribute $12,720 in 2024, engineering $8,948, and education and nursing, both $4,445. Meanwhile, ongoing students who started before 2021 in units in disciplines with increased student contribution amounts will continue to pay ‘grandfathered’ contributions.
National intelligence agencies up for review
Australia’s intelligence agencies will come under scrutiny through an independent review, announced by Prime Minister Anthony Albanese. The review will focus on the 10 agencies within the national Intelligence community, including the Australian Federal Police, the Australian Signals Directorate and the Australian Security Intelligence Organisation (ASIO). Mr Albanese said the review would be led by former senior federal public servants, Dr Heather Smith and Richard Maude. The review will receive public submissions and is due to report to the Federal Government in June 2024; the last review of the national intelligence community was completed in 2017.
Conroy confident on US legislation for AUKUS
Defence Industry Minister Pat Conroy remains confident that legislation supporting the AUKUS partnership will pass through the US Congress, despite levels of opposition. In a media interview, Mr Conroy said there was strong bipartisan support in Washington DC for the relevant US legislation for the three-nation defence partnership, apart from the “normal argy-bargy of Congressional negotiations.” He brushed off suggestions that a Republicans hold-out against the transfer of Virginia Class boats to Australia would spill over into next year’s US domestic political election season. Mr Conroy said reports coming out of the various US Senate and Congressional committees were “promising.”