FEDERAL BOOST FOR DEFENCE; JOBS SPIKE
Major boost for defence spending
Prime Minister Scott Morrison on Thursday announced a significant increase in the size and capability of the Australian Defence Force, projected to cost at least $38 billion. Under the plan, the number of ADF personnel will increase by around 30 per cent by 2040, taking the total permanent ADF to almost 80,000 personnel. Mr Morrison said ADF personnel would be increased in every state and territory, with a particular focus on capabilities associated with the AUKUS trilateral security partnership, as well as air, sea, land, space and cyber. The proposed expanded defence workforce would span all states and territories, cities and regional areas, with a majority of the growth expected to occur in Queensland, NSW, South Australia and Western Australia. On the same day, Labor Leader Anthony Albanese committed to ensuring that Defence had the resources to defend Australia and deter potential aggressors, with Defence budgets beyond the two per cent of GDP benchmark.
New submarine base proposed for east coast
Earlier in the week, the Federal Government announced that a new submarine base would be built on Australia’s east coast to support the proposed nuclear-powered submarine fleet. Prime Minister Scott Morrison and Defence Minister Peter Dutton said the future navy base would support the Fleet Base West in Western Australia, home of the Navy’s Collins-class submarines, in a total estimated investment of more than $10 billion. The PM said Fleet Base West would remain home to current and future submarines, given its strategic importance on the Indian Ocean. Three sites were identified for the future east coast site – Brisbane, Newcastle and Port Kembla.
Albanese moves to revive manufacturing strength
Federal Opposition Leader Anthony Albanese has vowed to return manufacturers to Australia under a Labor government. In a speech to industry, Mr Albanese said the combination of clean and cheap energy, and increased mechanisation, could make manufacturing in Australia more attractive than for many years. He promised to establish a national reconstruction fund to provide loans, equity and guarantees to companies recovering from the pandemic or building new enterprises. In addition, the Labor Leader promised to develop a defence industry development strategy to maximise local involvement in defence purchases; he also said Labor would deliver 465,000 free TAFE courses and 20,000 new university places in areas of demonstrated skills shortages.
Job numbers jump under worker shortages
Latest figures released by the Australian Bureau of Statistics have underlined the high demand for workers, with the total number of employed people increasing 3.3 per cent in the December 2021 quarter. In seasonally-adjusted terms, the total number of hours worked rose 4.3 per cent and the number of multiple job holders increased by 13.1 per cent. But more than one million people reported as underemployed (those who want to work more hours), despite a decrease of 200,000 in the quarter. Total number of jobs rose 3.7 per cent, or almost 530,000.
National Emergency declared in flooded regions
The Federal Government has declared a National Emergency to expedite the response of authorities to this week’s flood crisis in northern NSW and south-east Queensland. Prime Minister Scott Morrison said total Australian Defence Force deployments were expected to reach 6,000 across NSW and Queensland by the end of this week. By Wednesday this week, the Federal Government had paid almost $239 million in disaster payments to more than 200,000 people impacted in NSW and $146 million to 125,000 people affected in Queensland.