Arrival caps raised as Labor plans contract worker laws shakeup

Higher international arrival caps to resume

National Cabinet has agreed to resume the higher level of caps on international passenger arrivals from 15 February, with New South Wales continuing to take almost 50 per cent of arrivals (up to 3,010 per week). The caps will remain in place until 30 April, amid ongoing public demands to allow the return of more Australians and to admit more international students. Five days after National Cabinet, Victoria advised that it would defer its proposed increase (from 1,120 to 1,310 arrivals per week) until further notice.

WA Labor in box seat for re-election

Western Australia goes to the polls on March 13, with voters due to cast their verdict on the performance of Premier Mark McGowan since his landslide election in 2017. The WA Premier has maintained a hardline stance on border closures during Covid-19, while the state has benefited from a surge in iron ore prices; unlike other hard-hit states, WA expects to deliver a budget surplus in 2020-21. Labor holds 40 of the 59 Lower House seats in the WA Parliament. New Liberal Leader Zak Kirkup must retain his marginal seat and ensure that his party does not lose further ground after its big loss four years ago.

Superannuation funds pay out $36 billion in early release scheme

Superannuation funds paid $36.4 billion to eligible members under the Covid-19 early release scheme, according to official figures released this week. In its final report on the scheme that closed on December 31, the Australian Prudential Regulation Authority (APRA) said there were 4.9 million applicants, with the average payout being $7638. Fund members could apply to withdraw up to $20,000 (in two payouts) under the scheme, subject to proof of hardship such as unemployment, loss of working hours or reduction in business turnover.

Labor plans major overhaul of contract worker laws

Federal Labor Leader Anthony Albanese has proposed significant changes to conditions for contract workers, in a major policy announcement this week. The Opposition Leader wants to insert ‘job security’ as an objective in the Fair Work Act, promising rights for gig economy workers through the Fair Work Commission. Under the plan, portable entitlements would be developed, where practical, for annual leave, sick leave and long service leave for Australians in insecure work.

RBA head optimistic on growth prospects

Reserve Bank of Australia Governor Philip Lowe has painted a rosier outlook for the national economy, forecasting above-trend GDP growth of 3.5 per cent this year and in 2022. In his address to the House of Representatives Standing Committee on Economics, Dr Lowe said the RBA expected additional job losses when the JobKeeper program ended in March. But it would be offset by a rebounding level of job vacancies, job advertisements and business hiring intentions that suggested solid employment growth in coming months.

Tourism poised for post-JobKeeper support

As the JobKeeper program is wound down, the Federal Government is assessing potential ongoing support for the domestic tourism industry. Federal Trade and Tourism Minister Dan Tehan was this week in far north Queensland to meet with tourism operators, hit hard by state border closures and the loss of international tourism. Confirming the Government was working on a post JobKeeper plan for tourism, Mr Tehan noted the domestic tourism industry was worth $100 billion to the Australian economy. He said the Government had already assisted the sector through a $1 billion Covid-19 Relief and Recovery Fund.