Committee Chair, Daniel Mulino MP, said, "Since the committee’s last public hearing in September last year, the RBA has raised the cash rate one percent — a cumulative rise of 3.25 percent since the RBA started hiking rates in May 2022. Right now, inflation is the primary challenge to Australia’s economy, with the latest CPI inflation figures reaching 7.8 percent over the year to the December quarter.
"This sharp increase in rates, unprecedented in recent times, has been creating pressure across households and the economy. While the RBA’s view is that inflation is likely to have peaked around the end of 2022, there is still considerable uncertainty in the economic outlook with further interest rate increases expected in the months ahead," Dr Mulino said.
"The committee takes its scrutiny of the RBA very seriously and will continue to examine how the challenges of tackling high inflation are evolving. The RBA’s mandate of returning inflation to the 2 to 3 percent range over time is vital, and there are many domestic and global factors that will need to be addressed."
THE House Standing Committee on Health, Aged Care and Sport will hear from Australians living with long COVID and other post-viral illness at a public hearing on February 17, 2023 at Parliament House in Canberra.
The Chair of the Committee, Mike Freelander MP, said, "Listening to Australians living with long COVID about their experiences, journey to diagnosis and treatment is a key role of this inquiry.
"The committee appreciates the time taken by many people with long COVID who wrote to us to share how the condition has deeply impacted many aspects of their lives. Our next public hearing will unpack some of the issues raised in these submissions in more detail so we can consider how to better support long COVID patients now and in the future."
The committee will also hear from the Australian Department of Health and Aged Care, the National Aboriginal Community Controlled Organisation (NACCHO) and a roundtable of experts jointly organised by the Australian Academy of Science and the Australian Academy of Health and Medical Sciences.
Deputy Chair of the Committee, Melissa McIntosh MP, said, "The roundtable convened by the Australian Academy of Science and the Australian Academy of Health and Medical Sciences will bring together experts in areas such as infectious diseases, epidemiology, immunology, mental health and public health. This is a great opportunity for the Committee to hear from individuals at the forefront of COVID research and treatment."
The committee will hear from the Department of Health and Aged Care about what the Government is doing to respond to the new challenges for Australia’s healthcare system presented by long COVID and repeated COVID infections and is also looking forward to hearing from NACCHO with its valuable insights into the primary care response to COVID-19 in Aboriginal and Torres Strait Islander communities.
Further information about the inquiry, including the terms of reference and published submissions are available on the Committee’s website.
8am–8.30am: National Aboriginal Community Controlled Health Organisation (NACCHO) 8.30am–9.20am: Department of Health and Aged Care 9.20am–9.50am: Mr Bruce Sedgwick and Ms Sophie Sedgwick, private capacity 9.50am–10.20am: Associate Professor Nada Hamad, person with lived experience of long COVID (by videoconference) 10.20am–10.50am: Break 10.50am–11.30am: Australian Long COVID Community Facebook Group 11.30am–12.10pm: Session on lived experience of myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS) (by videoconference) 12.10pm–1pm: Break 1pm–5.00pm: Roundtable with experts organised jointly by the Australian Academy of Science and the Australian Academy of Health and Medical Sciences 5pm: Public hearing close
The public hearing will be broadcast live at aph.gov.au/live.
The four organisations have all been listed as terrorist organisations under the Criminal Code since 2016 or earlier. The listing of the organisations, made by regulations tabled in Parliament, triggers the application of a number of offences under the Criminal Code relating to membership of, support for or association with the organisations.
The committee said all four organisations sought to revive or re-establish a caliphate within the territories they operate in and seek to do so through a militant jihadist ideology and fomentation of sectarian violence. All four organisations have expressed sentiments against Australian allies and interests, the committee said.
According to the committee, AQAP is a Yemen-based religiously motivated violent extremist group which, since its establishment in 2009, has undertaken numerous terrorist and criminal activities. A recognised affiliate of al-Qa’ida, AQAP has undertaken, attempted to conduct attacks and advocated for the undertaking of terrorist attacks within Yemen and internationally, including praising attacks against Australia’s allies.
Based primarily in Pakistan, AQIS is an al-Qa’ida-affiliated religiously motivated violent extremist organisation, which seeks to advance al-Qa’ida’s objectives in South Asia. AQIS currently recruits from Muslim communities across South Asia, with its leadership based in Afghanistan and Pakistan.
As an officially recognised affiliate of Islamic State, IS-Libya is a religiously motivated violent extremist organisation that has undertaken terrorist attacks and kidnappings against police and military personnel in North Africa, resulting in multiple deaths. Since its re-listing in 2019, IS Libya has undertaken multiple attacks including bombing of a police checkpoint and attacks on Libyan National Army soldiers.
Based on Egypt’s Sinai Peninsula, IS-Sinai is a religiously motivated violent extremist group located in Egypt’s Sinai Peninsula and is officially recognised by Islamic State of Iraq and the Levant (ISIL). Since its last re-listing in 2019, IS-Sinai has undertaken multiple attacks including against the Egyptian government, detonation of a gas pipeline and killing civilians and Egyptian soldiers through use of explosive devices.
Chair of the committee, Peter Khalil MP, said, "Based on information provided, it is the view of the committee that the appropriate processes have been followed and that the four organisations meet the threshold for re-listing as terrorist organisations under the Criminal Code."
Further information on the review can be obtained from the Committee’s website.
THE House Standing Committee on Industry, Science and Resources has launched an inquiry into advanced manufacturing, with the aim of further supporting Australian industry, creating jobs and reviving the country's ability to make world class products in Australia.
Committee Chair Rob Mitchell MP said understanding opportunities associated with advanced manufacturing was crucial for strategic growth.
"Supporting the growth of advanced manufacturing is about enhancing the things we do well by taking advantage of new and improved processes," Mr Mitchell said.
"We need to ensure that we are well-positioned as a nation to take advantage of new technologies, and that our strategic decisions are informed by the right data. Continuing to grow the relationship between industry and our research sector is also vital.
We want to hear from stakeholders across industry, our tertiary sector and government about what it will take to make things better – and how we can ensure reliable growth within Australia’s manufacturing sector."
Submissions for the Inquiry into Developing Advanced Manufacturing in Australia are now open. The inquiry Terms of Reference can be found at aph.gov.au/isr.
The inquiry will examine how encouraging healthy competition, stimulating the creation of more businesses and fostering entrepreneurship can enhance the well-being of Australians.
Committee chair Daniel Mulino MP said there had been two significant inquiries into competition over the past few decades – the 1993 Hilmer report and the 2015 Harper review.
"The committee does not plan to go over old ground," Dr Mulino said. "The economy has changed significantly over the past decade or so, particularly in digital technology and disruptive new technologies. We need to ensure we are harnessing this technology in the best way in the interests of consumers."
Dr Mulino said that while new digital technologies and approaches could be a very effective way to increase competitive tension, they could also create regulatory challenges.
"The committee will also investigate the continued market power of the Big Four banks, especially in the area of mortgages, retail deposits, and loans to small and medium enterprises, and whether more can be done to encourage competition through changes to macroprudential arrangements or other measures.
"In recent decades Australia’s productivity growth has stalled. The committee will examine the extent of market concentration, the fall in the establishment of new enterprises, the increase in mark-ups, and reduction in job mobility—and whether these have contributed to a decline in economic dynamism," Dr Mulino said.
The pandemic and the war in Ukraine had challenged supply chains and a diverse and dynamic business environment was one answer to that problem, he said.
"It is also timely that as a committee we explore economic plans that better equip Australia in the face of global uncertainty. As the nation emerges from the pandemic it is critical that we renew our focus on competition and business dynamism, to boost our productivity and for the benefit of all Australian workers and consumers."
Dr Mulino said the committee "would scrutinise the extent to which the consolidation of market power had undermined productivity, stifled wages, created more fragile markets and led to higher mark-ups".
The committee will also examine:
the degree to which anti-competitive behaviour and economic barriers — regulatory, as well as restrictions on access to finance, infrastructure, suppliers, customers, and workers — contribute to rising market concentration, and
international examples of best practice and innovative policies that demonstrate how Australia could lower economic barriers to competition and business formation, further limit anti-competitive behaviour, and better manage changes in industry structure that affect market power.
The committee is seeking submissions addressing some or all of the inquiry terms of reference from interested groups and individuals by Friday March 31, 2023. Submissions can be made online via www.aph.gov.au/economicdynamism.
More details about the inquiry, including the full terms of reference, are available on the committee’s website.
Debtset – Bailiff-Sheriff Aust MEMBER Login
