PM rejects jab laws; skills push

PM pushes back on mandatory vaccination

Prime Minister Scott Morrison has resisted calls for mandatory vaccination for Covid-19, stressing that the rule of law provided employers to give “reasonable directions” for staff in particular workplaces to be vaccinated. That included employees with direct contact to the public and those taking care of vulnerable people. Mr Morrison said some employers may seek to request vaccination in line with their occupational, health and safety responsibilities.

Move to ease labour shortages with skilled migration

A parliamentary inquiry into skilled migration has called for major reforms to address skills shortages. The final report of the Joint Standing Committee on Migration recommends that the Federal Government develop a new occupational or skills identification system to adapt to emerging labour market needs. It said that definitions of acute and persistent skills shortages should consider factors such as number and geographic spread of job vacancies, criticality of unfilled job occupation (e.g. nursing) and criticality of the occupation in temporary circumstances (e.g. bushfires, floods or pandemics).

Parliament passes changes to continuous disclosure laws

Federal Parliament has passed legislation to amend continuous disclosure laws for companies in providing forecasts of future earnings. Under the changes, companies and their officers will only be liable for civil penalty proceedings where they had acted with “knowledge, recklessness or negligence.” Treasurer Josh Frydenberg said the changes would mitigate the risk of companies being subject to opportunistic class actions under continuous disclosure laws.

New funding round for targeted manufacturing sectors

Federal Industry, Science and Technology Minister Christian Porter has opened funding of $800 million for companies that want to scale up and create jobs in targeted manufacturing industries. Funding of between $20 million and $200 million will be available, covering up to 33 per cent of eligible project expenditure. Projects must fall within the Modern Manufacturing Initiative, which covers the areas of medical products, clean energy and recycling, food and beverages, defence, space and resource technology and critical minerals processing.

Extension for relief on electronic communications, virtual meetings

Companies will be able to continue to hold virtual meetings and use electronic communications under legislation passed by the Federal Parliament. The temporary relief measures under the Corporations Act 2001 will allow listed and unlisted companies to send meeting-materials and execute documents until 31 March 2022. Treasurer Josh Frydenberg said the relief would provide certainty for companies holding annual general meetings to be held later this year and early next year.

Building approvals soar during Covid-19

While industry sectors such as hospitality, tourism and retail endured major disruptions during Covid-19 restrictions in 2020-21, the housing sector was buoyant, according to the Australian Bureau of Statistics. Figures from the ABS show that total dwelling approvals in 2020-21 were 27.3 per cent higher on the previous financial year, in seasonally adjusted terms. Private sector house approvals for the year were 42.8 per cent higher, with Western Australia recording a 107 per cent increase and South Australia up by 55 per cent.