Business News Releases

Anti-coal activists TAI 'caught out again' claims QRC

THE The Queensland Resources Council claims the "left-wing think tank" The Australia Institute (TAI) has been "caught out attempting to put a wrecking ball through Queensland’s economy and jobs with dodgy digits".

According to the QRC, the TAI report, ‘Never Gonna Dig You Up’, claimed the Queensland economy ‘would not be affected at all in the short term and barely affected’ in the medium to long term if coal mining ended.

QRC chief executive Ian Macfarlane said the importance of the coal industry to Queensland’s economy had never been more critical to regional communities "and for TAI to produce a report about coal with a Western Australian gold mine on the front cover reflects how much they know about the industry".

The report claimed there would only be 1,400 net job losses across the country from ending coal mining in Queensland and NSW and that Australia would experience an overall reduction in GDP of 0.6 percent.

However, according to QRC, a review of TAI’s report by highly credentialed Cadence Economics found that the ‘research’ was based on unfounded assumptions and discounted critical economic impacts.

Key findings of the Cadence Economics analysis of the TAI report included:

  • TAI’s entire paper is based on an unexplained and unrealistic assumptions regarding employment: TAI assumes the job losses caused by ending coal mining would be picked up by ‘other sectors,’ including having workers move from the coal producing regions of Queensland and NSW to Victoria and Western Australia. In other words, they assume that real jobs will be replaced by phantom ones. 
  • TAI’s report significantly underestimates that the net number of coal jobs that would be lost from ending the coal industry: TAI claims net job losses would only be around 1,400. However, using the same employment modelling parameters as the Commonwealth Treasury, Cadence Economics estimates jobs lost would be between 20,000-40,000 across the nation. Even at the lower end that’s a TAI miscalculation of 18,600 jobs or 95 percent. 
  • Impact on Queensland economy would be ‘catastrophic’: TAI’s own research glosses over the economic impact to Queensland which Cadence Economics describes as ‘catastrophic.’ As well as the significant job losses, ending the coal mining industry in Queensland would result in $3.8 billion in lost mining royalties and a staggering $72 billion total loss to the state’s economy. 
  • Massive impact on the Mackay and Fitzroy regions: The TAI report virtually dismisses the disastrous impact that ending coal mining would have on the Mackay and Fitzroy regions. Using TAI’s own numbers, Cadence Economics estimates a cumulative economic loss for these regions of $28.3 billion. 

“These quasi-economic reports will only denigrate the natural resource sector’s ability to provide jobs in communities and royalties that pay for nurses, police and teachers,” Mr Macfarlane said.

“The authors of TAI report appear to have no understanding of economics and the figures put forward seem to be borne out of the centre for creative accountants. This report is yet another example of anti-coal activists holding back the economic prosperity of Queensland.”

www.qrc.org.au

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TechCollect encourages business to ‘waste not, want not’ on December 8

FOR THE SECOND year,TechCollect, an industry-funded electronic waste recycling service, is calling for Australian businesses to play their part in building a sustainable future by recycling unwanted e-waste on December 8.

Research from Planet Ark reveals the most commonly recycled material in the workplace is paper with almost three quarters (72 per cent) of employees recycling this regularly, but when it comes to e-waste, only 36 per cent of employees are recycling computers and accessories.

With 82 percent of employees wanting to see more e-waste recycling in their workplaces, TechCollect’s ‘Waste Not, Want Not’ Day gives businesses a reminder to open up the storage room and hand over old office supplies for responsible recycling.

To get involved on Waste Not, Want Not Day, businesses can follow these three easy steps:

  1. Gather all unwanted and unused e-waste from around the workplace
  2. Call1300 229 837 to see if you qualify for a free pickup
  3. If you don’t qualify for a free pickup, find your nearest free drop-off point at http://techcollect.com.au/our-locations/

“It’s crucial for recycling to be viewed as a civic duty for all of us, but it’s also important for businesses to try and take some of the weight off consumers’ shoulders, as it often falls unfairly on individuals to do the right thing,” Carmel Dollisson, CEO of TechCollect said.

“There is currently a lot more the corporate sector can do to take responsibility for the e-waste it generates, and to make a positive impact on the environment and wider community.

"Instead of businesses letting e-waste accumulate, we’re encouraging them to make a pledge to support ‘Waste Not, Want Not’ Day on December 8 by recycling their e-waste at their nearest TechCollect drop off site or calling us direct if they have a substantial amount that we may be able to collect.”

TechCollect is an industry-funded, not-for-profit recycling service for computers, computer accessories and TVs. It was established in response to the government’s National Television and Computer Recycling Scheme which set out an obligation for importers and manufacturers to take responsibility for the safe disposal of e-waste.

As technology consumption continues to rise, it’s critical that businesses become more active participants in sustainability and promote awareness of responsible recycling throughout the year.

The festive season is the perfect time for employers and employees to clear offices of clutter ahead of the New Year and, at the same time, take shared responsibility for their e-waste. Dollisson says education is vital, not just for better workplace practice but for employees at home.

“Precious metals exist in e-waste and if we don’t recycle products those metals are lost to landfill,” Dollisson says. “Recycling means that these valuables can be recovered and put back into the manufacturing process.

“If we want Australia to build a more effective and adaptable system, an environment in which responsibilities are more evenly shared between consumers and business needs to be created. Getting companies to commit to ‘Waste Not, Want Not’ Day is a fantastic way to build a habit that can last throughout the year.”

To find out more information about TechCollect or to find a designated drop-off site closest to you, visit: http://www.techcollect.com.au/ 

 

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Fast tracking fast rail: release of transport connectivity report

THE House of Representatives Standing Committee on Infrastructure, Transport and Cities has today presented its report, Harnessing Value, Delivering Infrastructure, on the role of transport connectivity in stimulating development and economic activity in urban areas and regional Australia.

The Committee has recommended development of value capture mechanisms as a means of funding new transport infrastructure and the development of high speed rail to facilitate new patterns of settlement in Australia.

Committee Chair Mr John Alexander MP says the effective planning and development of transport infrastructure in our major cities and regions would optimise not just our potential for growth but also quality of life and cost of housing.

“We should give effect to urban renewal and densification while rebalancing the pattern of settlement through strategic decentralisation,” Mr Alexander says. “The key to this is high speed rail funded by value capture.”

The Committee has also recommended:

  • developing a framework for the specification and evaluation of proposals for the development of a High Speed Rail Network in Eastern Australia
  • investigating options for private funding of High Speed Rail through value capture
  • the monitoring and investigation of other technological innovations for transport connectivity
  • recognising the potential contribution towards the costs of new transport infrastructure of value capture
  • developing a system for coordinating the planning and funding of major infrastructure projects across all levels of government
  • coordinated procurement of vehicles and rolling stock for transport infrastructure
  • establishing value capture mechanisms for individual transport infrastructure projects as a condition of federal funding
  • developing a toolkit of value capture mechanisms that can be applied by all levels of government
  • continued roll-out of City Deal-type agreements with the various state, territory and local governments
  • developing a consistent and coordinated approach to the application of value-capture to major infrastructure projects, with the Australian Government acting as the single-point for the collection of value capture revenues.

A copy of the report can be obtained from the Committee’s website or from the secretariat on (02) 6277 2352.

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Strong progress on Adani project overwhelmingly positive for Qld

TODAY’S announcement that Indian miner Adani’s $22 billion Carmichael coal, railway and port project will be based in Townsville and begin construction from early 2017 is overwhelmingly positive news for regional Queensland, the state and the nation.
 
“After spending years obtaining the appropriate approvals, mining leases, demonstrating its commitment to environmental management and fighting continuous and often mischievous legal challenges, today’s strong progress on Adani’s Carmichael coal project is warmly welcomed by Australia’s resource industry,” says AMMA chief executive Steve Knott.
 
“This project is expected to inject 500 new jobs into regional Queensland in its first phase, create up to 10,000 direct and indirect jobs throughout its construction period, and employ an ongoing workforce of 4,500 during its long-term production phase.
 
“New multi-billion dollar mining projects are an extreme rarity in the challenging economic conditions currently facing resource operators globally. In recent years more than $160bn worth of potential resources projects have been dropped from consideration in Australia, almost half of which was flagged for Queensland.
 
“Adani’s Carmichael project will be much more than a short-term boost for Queensland’s economy. With an operating life of up to 90 years, it will create opportunities for small business and provide taxation and royalties that will fund schools, hospitals and other community infrastructure for almost a century.”
 
AMMA notes that despite obtaining almost all approvals needed to begin construction, and complying with more 200 environmental conditions, efforts are still underway by minority activist and community groups to derail the project through continuous court challenges, appeals and protests.
 
Mr Knott says Australia can learn from the excessive and unnecessary costs and delays in getting the Carmichael project to its pre-construction phase, in seeking to improve our processes for assessing and approving future job-creating developments.
 
“It is not missed that as most of the country celebrates one of very few new major resource projects in Australia coming closer to fruition, there are ongoing strategies by vocal minority activist groups to frustrate and stall the project through Australia’s courts,” he says.
 
“While nobody should be denied their right to legally and responsibly object to a development on legitimate grounds, the continuous legal activism known as ‘lawfare’ seen in the Adani case is counter-productive to our nation securing future projects and the community benefits they bring.
 
“The irony of the anti-coal brigade is that Australia supplying developing nations such as Indian with their coal energy needs is not only good for our economy and jobs, but ultimately better for global CO2 emissions  due to the cleaner burning properties of Australia’s high quality thermal coal.
 
“In doing so, Australia is also strengthening our relationship with one of our most important emerging international trade partners, and doing our part in helping bring billions of people out of poverty.”

www.amma.org.au

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Small business productivity more important than ever - IPA

GLOBAL political unrest and change may place further strain on Australia’s economic position, according to the Institute of Public Accountants (IPA).

“Australia faces a tremendous economic challenge as we position ourselves in an increasingly competitive region,” said IPA chief executive officer, Andrew Conway speaking at the launch of the IPA Deakin SME Research Centre recently.

“The emergence of the Trump government in America comes with uncertainty over current and future free trade agreements which may impact on our international relationships with other countries.

“And I am sure that discussions around Brexit will shortly shift to ‘Brentry’; as in, which markets the UK will seek to enter.

“Australia is uniquely placed to influence trade and investment opportunities in new markets.

“Critical to this will be whether small business has the confidence to employ and to explore. Employing more people and exploring new markets will help ensure small business owners, their families and our communities are in a position to seize the growth potential.

“However, this cannot happen with a blind expectation that government has the capacity to solve these problems and lay these policy foundations in isolation. 

“Our stagnating productivity growth as a nation threatens our quality of life. One of the critical levers that government and industry must acknowledge and trigger is to unleash productive capabilities of small business.

“Our job is to think big and back that up with reasoned and sound evidence and that is the role of our SME research centre

“However, research is not an end in itself; it is an enabler. Research is about building a seminal body of evidence to support a proposition. Our proposition is how do we turn Australia into the best place in the world to start, run and grow a small business?

“Our vision for the research centre is that it becomes the credible voice for small business. That policy makers continue to come to us first for advice as a sounding board and we get it right,” said Mr Conway.

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than with more than 35,000 members and students in over 80 countries.  The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.  The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.  

publicaccountants.org.au

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