LEADERS PUSH ON JOBS; TRADE FILLIP
PM pledges to extend defence job training
Campaigning in Western Australia, Prime Minister Scott Morrison has pledged more than $108 million to train an additional 1,500 school-leavers for jobs in the defence manufacturing and technology industry. The PM said the Defence Industry Pathways Program would be extended beyond its current pilot in WA to 14 regions across the country, through a nationally accredited certificate course. With less than three weeks to polling day, the PM also campaigned in Victoria and NSW, hopeful of picking up marginal Labor-held seats.
Labor backs Employment Summit
Opposition Leader Anthony Albanese has committed to convene a Bob Hawke-style Employment Summit of employers and unions to collaborate on secure work and promote enterprise bargaining. In a speech to the Australian Chamber of Commerce and Industry, the Labor Leader pledged to reinvigorate enterprise bargaining to lift productivity. He also pledged to commission a White Paper on the labour market to set out a plan to promote secure work and higher wages.
Labor commits to Tasmanian job package
Tasmania, and its three marginal seats, continue to receive attention from the party leaders, with Anthony Albanese this week pledging $26 million to invest in the future of Tasmanian jobs and manufacturing. Funds would be available for textile manufacturing, poultry processing, berry distribution and green hydrogen projects at selected sites. The Labor Leader also campaigned in marginal Liberal-held seats in Sydney and Melbourne.
Cancer centre promises for Adelaide
Prime Minister Scott Morrison has committed $77 million to establish a comprehensive cancer centre in South Australia. Under a re-elected Coalition government, the Bragg Comprehensive Cancer Centre would be modelled on the Peter MacCallum Cancer Centre in Victoria, and would handle up to 2,000 cancer cases each year in SA, as well as assisting patients from the Northern Territory. It would combine clinical care, research and education, and would join with Victoria, New South Wales and Western Australia to create a National Comprehensive Cancer Network. Labor Leader Anthony Albanese also committed $77 million towards SA’s comprehensive cancer centre.
Big jump in trade surplus
Australia’s trading position is still in a healthy state, with the balance on trade of goods and services rising $1.8 billion to $9.3 billion, seasonally adjusted, in March. The Australian Bureau of Statistics figures show that while export levels fell slightly, imports fell by almost $2 billion, driven by decreases in the imports of processed industrial supplies and consumption goods. The level of services exports – such as international travel and tourism – are more than 40 per cent lower than at the peak preceding Covid 19.
US leads foreign investment in and out of Australia
Foreign investment in Australia rose to $4,136 billion in 2021, almost doubling in 10 years, according to official figures. The Australian Bureau of Statistics revealed that Australian investment abroad has also more than doubled in the last decade, and now sat at $3,326 billion. The United States remains the biggest investor in Australia, with $1,053 billion, followed by the European Union, the UK and Japan. In return, Australian investment in the US stood at $1,113 billion, well ahead of the UK, the EU and Japan.