FEDS RAMP UP ENERGY PUSH; JOBLESS UP
Feds bank on private sector for low emissions response
In the aftermath of the United Nations climate change conference, the Morrison Government has moved to spruik an investor-led response to emissions reduction. It will establish through the Clean Energy Finance Corporation a new $1 billion fund to develop new low emissions technology, in a 50-50 funding partnership with the private sector. Industry and Energy Minister Angus Taylor also announced that three million solar rooftop systems had been installed across Australia, contributing around seven per cent of energy to the national electricity grid. He said that more than one in four houses had solar rooftop systems, with a new annual record of 3.2 gigawatts of energy expected to be installed this year.
New drive for electric vehicle investment
Continuing the low emissions offensive, Prime Minister Scott Morrison has shifted gears to escalate public and private investment in electric vehicle technology. The PM this week expanded the Future Fuels Fund to $250 million, to be supplemented by matching private sector investment into the uptake of future fuels. The strategy will focus on public electric vehicle charging and hydrogen refuelling infrastructure, heavy and long-distance vehicle technologies, commercial fleets and household smart charging.
Sharp rise in jobless rate
Unemployment in Australia has recorded a sharp increase, up from 4.6 per cent in September to 5.2 per cent, seasonally-adjusted, in October. Monthly jobless rates in Covid 19-hit New South Wales and Victoria rose to 5.4 per cent and 5.6 per cent respectively, while the Australian Bureau of Statistics recorded underemployment (of those who want to work more hours) at 9.5 per cent. The participation rate rose in NSW but declined in Victoria. For the first two weeks of October, however, the ABS estimated separately that payroll job numbers had increased 1.3 per cent nationally, while total wages paid fell by 0.9 per cent.
Early bounce in international travel
Inbound travellers into Australia have responded strongly to the removal of quarantine requirements into New South Wales, Victoria and the Australian Capital Territory. National Cabinet was told that by Friday, November 5, around 7,000 fully-vaccinated travellers had arrived through Sydney and Melbourne Airports. These included returning Australians, permanent residents, immediate family and exempt foreigner visa holders.
Dutton moves to reassure ASEAN nations on new defence partnership
Defence Minister Peter Dutton has sought to reassure his fellow defence ministers in South-East Asia that the new AUKUS partnership was not a defence alliance or security pact. In a virtual meeting with ministers of the 10-member ASEAN grouping, Mr Dutton reaffirmed that Australia remained committed to ASEAN principles for the Indo-Pacific, which included a rules-based framework and respect for sovereignty and international law. He said the new partnership with the US and the UK did not change Australia’s strategy, and was principally a framework for sharing technology and capability.
Public sector employment hits 2.1 million
More than 2.1 million people were employed in the public sector across Commonwealth, state and local government at June 30 this year, according to ABS figures. The ABS records show that more than 1.6 million were employed by state governments, with more than 247,000 employed at Commonwealth level and 190,000 within local government. Public sector wages and salaries rose almost five per cent in the 12 months to June 2021, to almost $183 billion