International gate opens: jobs pledge
NSW opens up international borders
New South Wales Premier Dominic Perrottet has moved to re-open international borders, removing quarantine requirements for fully-vaccinated overseas arrivals. From November 1, returning Australians vaccinated with an approved vaccine will be able to return via NSW, with travel caps removed. The relaxed restrictions apply only to returning Australians: Prime Minister Scott Morrison said the Federal Government was yet to make a decision to allow skilled and student visa holders and international visitors to come to Australia.
PM vows to protect rural jobs in emissions target
Ahead of attending the UN Climate Change Conference in Glasgow, Scott Morrison has promised that the jobs and futures of rural and regional Australians would be protected in the Government’s response on emissions targets. In a media interview, Mr Morrison said Australia had reduced its emissions by 20 per cent on 2005 levels, bettering the record of the US, Canada and New Zealand over that time. Federal Cabinet would decide on Australia’s response after input from the National Party, and before the PM left for Glasgow.
Ratings upgrade for national economy
Australia’s economic outlook has received a tick from ratings agency, Fitch Ratings, which has upgraded the nation’s AAA credit rating from ‘negative’ to ‘stable’. Fitch said the Delta lockdowns would lower economic growth in 2021 from an expected 5.8 per cent to 3.7 per cent, with a rise in 2022 to 4.5 per cent on the back of a strong rebound in consumption. Treasurer Josh Frydenberg said Australia remained one of only nine countries to maintain a AAA rating from all three major credit rating agencies during the pandemic.
Permanent changes for company communications
Companies will be allowed to continue to hold virtual meetings and distribute and execute documents via technology, under changes to the Corporations Act. Treasurer Josh Frydenberg said legislation introduced this week would enable companies to hold meetings physically, by hybrid or virtually. Documents could be sent in hardcopy or softcopy, while documents and deeds could be executed in technology-neutral and flexible manners. The amendments build on temporary arrangements introduced during the onset of Covid-19.
Delta wave hits job numbers
Payroll job numbers fell by 0.4 per cent across Australia in the month to September 25, according to interim figures released by the Australian Bureau of Statistics. Job numbers rose in NSW by 0.7 per cent, but fell in Victoria (down 1.8 per cent), Queensland, Tasmania and the ACT. Annual figures for the year to the end of September demonstrate the effect of the Delta Covid-19 wave on NSW and Canberra, with payroll job numbers down by 5.9 per cent and 8.1 per cent respectively since September 2020.
Grain finding new export markets, says industry report
Australia’s grain crop reached almost $13 billion in value in 2020-21, according to a report issued by a peak industry body. The GrainGrowers Australia report said around 65 per cent of the nation’s grain was exported, dominated by wheat and barley. It said China’s decision in 2020 to impose tariffs on Australian barley would cost growers $2.5 billion over a five-year period, but premium-priced malting barley was now being diverted to Saudi Arabia. New markets had also been sourced for chickpeas after India imposed tariffs in 2018.