WOULD the House of Representatives work more effectively with fixed four-year terms? What would that mean for the Senate? If the length of terms was fixed, in what circumstances should an early election be allowed?
The panel will comprise professors Gabrielle Appleby, Cheryl Saunders, Anne Twomey, and George Williams, and Mr Malcolm Mackerras.
Chair of the committee, Andrew Wallace MP said that since Federation the average length of Parliaments has been about two and a half years.
"I’m looking forward to involving the public in a discussion about whether longer parliamentary terms would improve the Australian political system," Mr Wallace said.
The discussion will be open to the public and streamed live on the Parliament’s website.
The House of Representatives’ Twitter account, @AbouttheHouse, will be following the discussion, and the Committee will consider questions posted on Twitter. The Committee encourages those making contributions to do so respectfully.
Further information is available on the Committee’s website.
THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell wants to hear from small and family enterprises being exited from financial planning businesses.
“Following recent media reports regarding AMP Financial Planning’s restructure of its business, my office has received dozens of requests for assistance from small business financial planners across a number of licensors, many of whom say they are facing financial ruin,” Ms Carnell said.
“Small business owners are reporting that they are bearing the brunt of brutal restructures by their licensors. They are saying that licensors’ handling of matters has not been transparent or equitable."
The Ombudsman wants to hear from financial planning licensees who feel that their treatment is unfair.
“We’re concerned about a number of behaviours that may include the conduct of lookback audits, financial planning licensors shifting responsibility for client compensation payments to licencees, short notice periods provided to licencees exiting the business and restraint of trade provisions," Ms Carnell said.
Any small or family business that has been impacted by changes in the financial planning sector is encouraged to share their story via This email address is being protected from spambots. You need JavaScript enabled to view it.
INDUSTRY super fund owned IFM Investors completed the purchase of US energy company Buckeye Partners, over this weekend, Australian-time. It is the largest Australian cross border acquisition of a foreign company since BHP acquired Petrohawk in 2011 and the largest deal in the history of IFM, catapulting it to being one of the most significant owners of infrastructure in the world.
Six million working Australians who are members of industry superannuation funds and whose retirement savings are part-managed by IFM Investors will benefit from the transaction.
Buckeye’s critical energy infrastructure assets include 6,000 miles of pipeline, with over 100 delivery locations and 115 liquid petroleum products terminals with aggregate tank capacity of over 118 million barrels, and a network of marine terminals located primarily in the East and Gulf Coast regions of the US, as well as in the Caribbean.
IFM Investors chief executive Brett Himbury said the Buckeye deal was a strong long-term investment for millions of industry super fund members and a transformational acquisition for the firm.
“With our scale, reach and capability, IFM Investors and industry super funds are a significant exporter of capital. As long term stewards of critical infrastructure, IFM seeks to deliver great investment outcomes in a sustained and sustainable way for millions of working people here and around the world.”
Mr Himbury said that IFM would actively lower carbon emissions at Buckeye to assist the firm navigate the next phase of the US and global energy revolution, and protect the value of the investment in the long term.
“In our experience, working to lower emissions is good for business and good for our investors," Mr Himbury said.
“As the largest owners of infrastructure in Australia, IFM has significant expertise now in responsible stewardship and we look forward to contributing more investment in infrastructure in Australia.
"Our priority is delivering great returns to members. We also know that long-term investment in infrastructure builds the productive capacity of the nation and generates employment. We are committed to meeting community standards as investors in infrastructure the public relies upon and continuing to partner with federal and state governments.”
About IFM Investors
IFM Investors is an investor-owned global fund manager with A$152 billion under management as of 30 September 2019. Established more than 20 years ago and owned by 27 major pension funds, IFM Investors’ interests are deeply aligned with those of its investors. Investment teams in Europe, North America, Australia and Asia manage institutional strategies across infrastructure (equity and debt), debt investments, listed equities and private capital. IFM Investors is committed to the United Nations supported Principles for Responsible Investment and has been a signatory since 2008. IFM Investors has offices in nine locations; Melbourne, Sydney, New York, London, Berlin, Tokyo, Hong Kong, Seoul and Zurich. For more information please visit www.ifminvestors.com
WHITE AUSTRALIA comes to a halt for the race that stops a nation, 20 South East Queensland students will be at Evolution Mining’s Mount Carlton gold mine -- the birthplace of this year’s coveted 2019 Lexus Melbourne Cup trophy.
The students from 10 Queensland Minerals and Energy Academy (QMEA) schools, will spend two days touring the mine located 150km south of Townsville, arriving today.
They’ll see the mine, processing plant, hear from geologists, engineers, scientists and tradies, and inspect one of the mine’s five 95 tonne haul trucks.
“Last year the mine produced more than 100,000 ounces of gold and this year we are commencing an underground expansion,” said Evolution’s Mount Carlton general manager Anton Kruger.
“It’s also great to see that 14 of the students attending are girls who will have an opportunity to meet some female employees on site in various roles, showing that this industry is definitely one for them to consider.
“It’s fantastic to have the students on-site to gain some insights into how gold is produced, and an overview of the many career opportunities available in the resources sector,” he said.
“Gold is used not just in the obvious things like jewellery, but also in medicine, for example playing a critical role in cancer detection and cure, electronics such as mobile phones and computers, and of course, the Melbourne Cup, for which we are very proud to have this year produced the gold.
“While many of the end products from mining are very familiar, the time, effort and resources spent on their production are not always apparent.
“We hope that the tour will spark interest in the students in considering resources as an exciting and rewarding career option."
The QMEA is a partnership between the Queensland Resources Council (QRC) and the Queensland Government under its Gateway to Industry Schools program. It has 74 schools throughout Queensland.
QRC is the peak representative body for Queensland ‘s resource sector. The Queensland resources sector provides one in every five dollars in the Queensland economy, sustains one in seven Queensland jobs.
THE Queensland Resources Council (QRC) has welcomed the announcement from the Morrison Government of a new Skills Organisation Pilot to focus on the mining industry.
Prime Minister Scott Morrison made the announcement today at the QRC’s annual launch of the economic contribution data for the sector.
QRC Chief Executive Ian Macfarlane said the Australian Government’s recognition of the importance of an ongoing skills base for the resources sector reinforced the value of mining both now and decades into the future.
“The latest figures QRC released today showed that the Queensland resources sector added $74.3 billion to the state’s economy in the last year. That’s due to the work of the 372,500 people who work in or with the resources sector,” Mr Macfarlane said.
“The benefits are spread right across the state, from Burleigh Heads to Brisbane, and from Maroochydore tor Moranbah.
“We want to make sure those jobs are here to stay through a strong and resilient resources industry. To do so, we must ensure that Queenslanders have the right skills to make the most of the opportunities in mining, mining technology and associated industries," Mr Macfarlane said.
“The resources industry is committed to providing young Australians with a rewarding, long-term career path.
“The QRC works through the Queensland Minerals and Energy Academy (QMEA) to give Queensland students a taste of the diverse range of opportunities in the sector. Research shows us that QMEA students are 20 per cent more likely to start studying or employment in engineering and related technologies compared to 11 percent of students in non-QMEA schools.
“Mining workers don’t need to reskill, they need to keep their skills," he said. “We can’t have a strong Queensland without a strong resources sector, and to ensure the sector’s longevity we need a skilled workforce for the future.
“QRC will work with the Minerals Council of Australia on the new Skills Organisation Pilot in mining and resources to further strengthen the training opportunities for young Queenslanders who want a career in mining – whether it’s onsite or in a control room.”
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