RECORD ENERGY EXPORTS; NEW DISASTER BODY
LNG, coal driving new export records
Australia’s resource and energy export earnings are forecast to reach a new record of $419 billion in 2022-23, according to a new report by the Federal Department of Industry, Science and Resources. The report by the department’s Chief Economist attributes the surge in energy and base metal prices to post-Covid demand and the diversion of Russian exports from markets. It says that resource and energy export earnings reached a record in 2021-22, estimated at $405 billion. Double-digit percentage increases are expected for LNG and thermal coal exports this new financial year, but the department expects earnings to fall below $338 billion in 2023-24 as world supply responds to high prices and demand for commodities moderates.
Disaster agencies to merge under Home Affairs
Australia’s two main disaster agencies will be merged into a single body under plans announced by the Minister for Emergency Management, Murray Watt. From September 1, Emergency Management Australia and the National Recovery and Resilience Agency will form one organisation to sit within the Department of Home Affairs. Senator Watt said the creation of the new National Emergency Management, Resilience and Recovery Agency (NEMRRA) would strengthen Australia’s ability to prepare for, manage and recover from natural disasters, which cost the national economy $38 billion a year on average.
Marles extends terms for Defence chiefs
New Defence Minister Richard Marles has extended the terms of the three senior leaders of the Australian Defence Force, in a round of major appointments. The Deputy Prime Minister extended by two years the terms of the Chief of the Defence Force, General Angus Campbell, and of the Vice-Chief, Vice-Admiral David Johnston. In addition, the term of the Chief of Joint Operations, Lt-General Greg Bilton, was also extended for two years. In other appointments, Rear Admiral Mark Hammond will be the new Chief of Navy, Major-General Simon Stuart the new Chief of Army and Air Vice-Marshal Robert Chipman the new Chief of Air Force. All are four-year appointments.
Bowen spruiks hydrogen exports
Climate Change and Energy Minister Chris Bowen has laid out the government’s energy agenda, including tax changes for electric vehicles and plans to grow the hydrogen sector. In a speech to the National Press Club, Mr Bowen said legislation would be introduced in the first weeks of the new Parliament to legislate the Government’s target of a 43 per cent cut in emissions by 2030, as well as abolition of the fringe benefits tax on “affordable” electric vehicles, retrospective to July 1. The Minister also targeted hydrogen energy to progressively decarbonise existing industries, for heavy transport links and for chemical production. He said Australia would use solar, onshore and offshore wind to generate export quantities of hydrogen, as well as for domestic use.
Job vacancies soar in private industry
Job vacancy numbers in the private sector during May soared more than 14 per cent since February, according to the Australian Bureau of Statistics. The ABS reported that total job vacancies in the private and public sectors rose to almost half a million, seasonally-adjusted, in May, or up 13.8 per cent over the quarter. As companies deal with ongoing worker shortages, the latest vacancy level in May was 111 per cent higher than the pre-pandemic level of February 2020.
Overhaul of job-seeker scheme
Meanwhile, Employment and Workplace Relations Minister Tony Burke has announced a reform of the Jobactive scheme for job-seekers, introducing a new points-based system for participants. Workforce Australia has replaced Jobactive in a change that Mr Burke said would give job-seekers more choice and control over how they met their mutual obligation. He said Jobactive was too rigid, requiring participants to complete 20 job applications as a mutual obligation in return for income support.