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Report released on the economic opportunities for First Nations Australians

FIRST NATIONS Australians are significant contributors to Australia’s economy but access to finance and capital is limiting their economic empowerment and financial wellbeing.

These are the findings of the Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs report on its inquiry into economic self-determination and opportunities for First Nations Australians.

First Nations businesses and organisations are reported to have a higher social return on investment than many businesses working in mainstream industries – for every dollar of revenue spent, First Nations enterprises create about $4.41 of economic and social value. First Nations businesses are 40 to 100 times more likely to employ First Nations people.

Supported by research from the University of Melbourne, the inquiry received evidence showing First Nations businesses contribute $16.1 billion in revenue each year, pay $4.2 billion in wages, and employ more than 116,000 people.

The inquiry also put a spotlight on the structural barriers and systemic disadvantages to economic growth that First Nations people face. Evidence includes reported barriers to accessing finance and capital, starting a business, scaling up a business, leveraging land for economic purposes, as well as a lack of institutional trust, negative risk stereotypes, lower accrued intergenerational wealth and commercial acumen.

The report calls for a fundamental reframing of the First Nations economic narrative – one that embraces broader economic and fiscal policies. All levels of government, financial institutions, and investors must strengthen existing, and develop new, instruments to enhance First Nations people’s access to finance and capital. Financial institutions should remove impediments to responsible lending and capital flow to First Nations people.

The report makes 22 recommendations to the government including:

  • strengthening existing, and developing new, instruments to enhance and fast track First Nations peoples’ access to finance and capital.
  • capturing longitudinal First Nations economic and business data to support policy design and improve the institutional trust of First Nations enterprises.
  • strengthening First Nations cultural and intellectual property laws to deliver significant commercial opportunities.
  • considering capacity and capability support for First Nations communities to enable the growth of emerging industries and Australia’s economy.
  • ensuring resourcing for Prescribed Bodies Corporates in the Native Title Act 1993 is sufficient to enable delivery of their full legislated potential.
  • considering a target for First Nations project ownership and equity in clean energy.
  • on completion of the Australian Law Reform Commission Future Acts Regime Review, considering whether a full review of Native Title Act 1993 (Cth) is required to deliver economic opportunities on the Indigenous estate.

Senator Jana Stewart and Committee Chair, a Mutthi Mutthi and Wamba Wamba woman, said the inquiry showed the contribution of First Nations people to Australia’s economy and local communities is significant, far reaching, and rapidly growing.

“Australia’s First Peoples, my ancestors, have been successful traders, innovators, entrepreneurs, and knowledge holders for more than 65,000 years," Senator Stewart said.

“Unlocking greater growth of Australia’s economy and transforming First Peoples to long-term generators of wealth and equity requires change from all levels of government, financial institutions, and investors.

“The future is bright with the right approach — one that embraces broader economic and fiscal policies, reshapes the public narrative, engages a strengths-based framework, stimulates investment and trade, and works in genuine partnership.”

 

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Live music inquiry — events and tickets

THE House of Representatives Standing Committee on Communications and the Arts is holding a public hearing tomorrow and on Monday for its inquiry into the challenges and opportunities within the Australian live music industry.

On Friday, the committee will hear from witnesses including Untitled Group, TEG and Oztix. Live Nation is scheduled to give evidence on Monday.

The Chair Brian Mitchell MP, said, "‘The committee has seen recent media reports relating to issues including dynamic ticket pricing and market settings for live music events in Australia.

"What has been reported captured popular attention and is very relevant to the committee’s inquiry into live music.

"We would like to examine these issues further and allow event promotors and ticketing businesses an opportunity to discuss their perspective."

Details of the public hearings are below, with the full programs and terms of reference available on the inquiry webpage. More information about the committee, including membership, may be found on the Committee’s website.

Public hearing details

Date: Friday, 22 November 2024
Time: 9am – around 11:40am AEDT
Location: Australian Parliament House, Committee Room 1R3

Date: Monday, 25 November 2024
Time: 9am – 10am AEDT
Location: Australian Parliament House, Committee Room 2R1

The hearings will be broadcast live @AUSParliamentLive .

 

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Administration of Commonwealth regulations to be scrutinised by Audit Committee

THE Joint Committee of Public Accounts and Audit (JCPAA) will hear from a range of agencies on Friday, November 22, for its inquiry into the administration of Commonwealth regulations.

Chair of the JCPAA, the Linda Burney MP, said, "Regulation, when it is administered effectively, delivers better public goods and services, creates certainty, facilitates growth and builds community confidence.

“Regulators must have proportionate and risk-based approaches to assessing compliance risk. Compliance and enforcement strategies must be informed by evidence, and actions to identify and address instances of non-compliance must aim to minimise harm.”

"The committee will examine the findings of five audit reports and hear from the relevant entities on their performance as regulators," Ms Burney said.

Friday 22 November 2024
Committee Room 2R1
Parliament House

9am - Management of non-compliance with the Therapeutic Goods Act for unapproved therapeutic goods—Department of Health and Aged Care*

9.45am - Design and early implementation of residential aged care reforms—Department of Health and Aged Care, Aged Care Quality and Safety Commission*

10.45am - Trade measurement compliance activities—Department of Industry, Science and Resources*

11.30am - Management and oversight of fraud control arrangements for the goods and services tax—Australian Taxation Office*

1pm - Regulation of Migration Agents—Department of Home Affairs*

1.45pm - Department of Finance*

* The Australian National Audit Office will also appear at each session.

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Treaties Committee recommends ratification of OCCAR Agreement

THE Joint Standing Committee on Treaties has tabled a report recommending the ratification of the Security Agreement between the Government of Australia and the Organisation for Joint Armament Cooperation (Organisation Conjointe de Coopération en Matière d’Armement) (OCCAR) on the Protection of Classified Information (the Agreement).

OCCAR is a European inter-governmental organisation that Australia participates in that coordinates defence equipment procurement and management programs. The agreement establishes security measures to protect classified information generated from activities between Australia and OCCAR Member States.

Committee Chair, Lisa Chesters MP, said, "Australia currently has to create interim security arrangements for each OCCAR program that we participate in. Ratifying this Agreement will create permanent security arrangements to protect Australia’s classified information and ensure our ongoing participation in OCCAR programs.

"This agreement facilitates the sharing of classified information generated from OCCAR programs and protects it to a mutually agreed standard. The agreement does not oblige Australia to share its classified information and allows our continued engagement with OCCAR-managed programs such as the Boxer Combat Reconnaissance Vehicle, Tiger Armed Reconnaissance Helicopter, and the MU90 Impact Lightweight Torpedo."

The committee supports ratification and recommends that binding treaty action be taken.

The report also contains the minor treaty actions Amendment to the Loan Agreement between Australia and the International Monetary Fund and the Amendment to the Annex to the Facilitation of International Maritime Traffic Convention 1965.

The report can be found on the Committee website, along with further information on the inquiry.

 

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Inquiry into the Department of Defence Annual Report 2022-23

THE Defence Subcommittee of the Joint Standing Committee on Foreign Affairs, Defence and Trade has completed its inquiry into the Department of Defence Annual Report 2022-23.

Defence Subcommittee Chair, Brendan O’Connor MP, said, "This inquiry examined Australia’s assistance to Ukraine, the Defence health system, Defence’s Capability Assurance Mechanism, Artificial Intelligence and autonomous weapons and armaments manufacture, procurement and inventory.

"Australia’s strategic environment is rapidly evolving with rising global tensions and potentially reduced warning time for conflict. In response Australia is investing in Indo-Pacific partnerships and deepening engagement across with our allies around the world," Mr O'Connor said.

"A cornerstone of our approach remains our unwavering support for Ukraine. This support is critical to Ukraine’s defence and to the need for a stable, rules-based international order. Australia’s support to Ukraine must be carefully coordinated and sustained for the long-term.

"The subcommittee believes a 'Ukraine lens' should be applied to the decision-making process around the retirement of equipment from military service. This will allow more effective planning and provide time to ensure Australia’s ongoing compliance with international agreements and treaties. Furthermore, transparency in the decision-making process is essential.

"Australia’s training contributions to Ukraine through Operation KUDU have proven highly successful. We are committed to continuing our support for the training of both Ukrainian forces and civilians to enhance their resilience.

"The subcommittee believes there is a strong case for reopening Australia’s embassy in Kyiv, as a physical diplomatic presence would strengthen our bilateral ties with Ukraine and align us with the 70 other nations that have reopened their embassies," Mr O'Connor said.

"The inquiry also identifies challenges facing Defence and its health services contractor in providing healthcare services to over 60,000 personnel across various Defence units. Staffing shortages and delays in medical appointments remain ongoing concerns.

"The 2023 Defence Strategic Review and the 2024 National Defence Strategy provide a clear roadmap for addressing the challenges facing Defence. The focus on minimum viable capabilities, timely delivery, and allocated funding, Defence will be able to meet its objectives and build the Integrated Force of 2031. The subcommittee also reviewed Defence’s capability assurance systems recognising that the cyber and space worthiness systems are still in development.

"Australia finds itself facing an elevated risk of state-on-state conflict. To meet these challenges head-on, the Australian Government, in collaboration with our AUKUS partners, is prioritising the development and acquisition of asymmetric capabilities, including autonomous weapons systems. Such technologies will empower the Australian Defence Force to project influence and ensure our capacity for impactful and proportionate action in any scenario.

"Rapid advancements in AI and computing will continue to shape the future of weapon systems. As we develop and acquire new capabilities, it is essential that we fully integrate artificial intelligence and autonomous weapons systems to ensure they meet the requirements of our defence strategy, while also remaining committed to the principle that all capabilities must be fully compliant with international humanitarian law. Australia should continue contributing to international discussions on AI policy, and we must stay informed of evolving international law and policy developments.

"The subcommittee acknowledged the need to strengthen Australia’s sovereign defence capabilities and our reliance on international supply chains, particularly around munitions. While challenges remain, the subcommittee is confident that Defence’s ongoing efforts to improve its systems and capabilities will position Australia’s defence for long-term success.

"To finish, I would like to thank the Deputy Chair, Andrew Wallace MP, and other members of the subcommittee for their contributions to this inquiry. I also extend my thanks to the former Chair, Julian Hill MP, for his critical contributions to the inquiry as the former chair of the subcommittee. I thank the Committee Secretariat and the significant support from Defence in briefing the subcommittee and supporting its site visits in Queensland and Victoria.’

The Defence Subcommittee’s recommendations are for:

  • Defence and the Department of Foreign Affairs and Trade to establish a dedicated 'one-stop-shop' – to streamline Australia’s efforts to support Ukraine to ensure that we are more efficient and effective when providing assistance going forward.
  • The Department of Defence and Department of Foreign Affairs and Trade publish a summary of its decision-making processes, enabling the public to understand the rationale behind these decisions and increasing trust in our actions.
  • The Department of Foreign Affairs and Trade to re-open Australia’s embassy in Kyiv inclusive of an Australian military attaché.
  • Defence and its health contractor to investigate delays with the provision of medical specialist services and take steps to ensure timely service delivery that meets the needs of our personnel.
  • Defence address shortcomings with cyber and space worthiness systems.
  • Defence establish test and evaluation frameworks, ensuring systems are thoroughly validated before deployment. Additionally, we must address challenges such as automation bias and ensure that our personnel are trained to understand the limitations of these new technologies.
  • Defence to continue adhering to the requirements of Article 36 of the Geneva Conventions and other relevant international obligations as we develop, acquire, and deploy new defence technologies.
  • In order to reduce supply chain vulnerabilities in times of conflict or other disruptions Defence sourcing more components domestically.
  • Defence to develop a transparent reporting framework for Guided Weapons Explosive Ordnance stock holdings to allow for the tracking of progress and enhancements to Australia’s self-reliance in munitions production.

Further information in relation to the inquiry is available from the JSCFADT’s website.

 

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