Business News Releases

Economics Committee to scrutinise insurance sector following year of COVID-19 and natural disasters

THE House of Representatives Standing Committee on Economics will hear from the Insurance Council of Australia, as well as from a range of insurers at a public hearing via videoconference on Friday, June 25, as part of its ongoing Review of the Four Major Banks and other Financial Institutions.

The chair of the committee, Tim Wilson MP, said, "These hearings are an important mechanism for the Parliament to publicly scrutinise and hold Australia’s insurance sector to account.

"Insurance is an essential way that Australians and Australian businesses manage risk and protect themselves from financial loss after disaster strikes. Australians must be able to rely on the insurance sector to provide high-quality policies and respond quickly when claims are made.

"The past 18 months has been a difficult time for many Australians. The COVID-19 pandemic quickly following on from a horror bushfire season, and recent extensive flooding in several states has meant businesses and individuals have had to depend upon their insurance companies in ways never before experienced.

"The committee is looking froward to hearing what lessons have been learned by the industry over the course of the pandemic and what policy changes and technological innovations have been adopted in light of the Hayne Royal Commission."

Public hearing details

Date: Friday, 25 June 2021
Time: 9.15am to 5.15pm
Location: Videoconference

The hearings will be webcast at aph.gov.au/live.

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Report into House petitioning system tabled

THE Standing Committee on Petitions has today tabled its report into the security and accessibility aspects of the House of Representatives petitions system.

The committee examined the need to balance security and accessibility requirements for electronic and paper petitions, the functionality of current systems, and the options for future development and change to the petitions system. Chair of the committee, Ken O’Dowd MP, said the inquiry has highlighted the ongoing importance of petitioning to Australians.

 

"Through the course of its inquiry the committee has been presented with evidence on the importance and functionality of the House petitions system, and we thank all inquiry participants who put forward a submission. As the only way for members of the public to have a direct voice to Parliament we recognise the value of petitioning," Mr O’Dowd said.

The inquiry report reflects on the current functions of the petitions system, and its effectiveness at maintaining an accessible yet secure way to facilitate public support for petitions.

Mr O’Dowd said, "The Petitions Committee seeks to retain the accessibility of the system, while continuing to manage security requirements. The report does not include recommendations, as we found that any changes to security would negatively impact accessibility and vice versa."

He also noted that the committee understands that the current balance meets the requirements of the Australian public.

"We will continue to work to deliver a secure, user-friendly system to facilitate debate and change for the betterment of all Australians," Mr O’Dowd said.

Further details about the inquiry, including the report and submissions, can be found on the Committee’s webpage.

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New inquiry into constitutional change in the modern age

A PARLIAMENTARY inquiry has been established to consider new ideas to engage and inform Australians about the Constitution and to examine the way in which referendums are conducted in Australia.

The Chair of the House of Representatives Standing Committee on Social Policy and Legal AffairsAndrew Wallace MP, said the inquiry would be an opportunity for a fresh look at the process of constitutional reform in Australia.

"The period since 1999 has been the longest in Australia’s history without a referendum to change the Australian Constitution, so there will be many Australians of voting age who have no experience of voting in a referendum," Mr Wallace said.

"The committee is keen to consider suggestions to involve more Australians in a conversation about the Constitution, including how best to consult the community on proposals for constitutional change before they are put to a referendum. The committee will also consider the need to modernise the way in which referendums are conducted to ensure it remains appropriate in contemporary Australia.

"The inquiry is not about specific changes to the Constitution, but about ensuring that as a nation we can have informed discussion and debate about any proposals for constitutional change, and a fit-for-purpose referendum process to decide on them."

The committee is accepting written submissions of no more than 4000 wordsuntil August 6, 2021. Further information about the inquiry, including the terms of reference, is available on the inquiry webpage at www.aph.gov.au/constitutionalreform.

Information about making a submission is available on the Parliament of Australia webpage.

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Myanmar coup Australian Govt report published

THE Joint Standing Committee on Foreign Affairs, Defence and Trade today presented its report, Australia’s response to the coup in Myanmar.

Chair of the Foreign Affairs and Aid Subcommittee, Dave Sharma MP, said, "The military coup in Myanmar has resulted in widespread loss of life and human tragedy, and has entirely reversed the significant development gains Myanmar has made in the past decade under civilian, democratic rule.

"This has led the committee to make a range of recommendations to the Australian Government, including how Australia can best support regional diplomacy efforts geared towards resolution of the crisis, and the implications for our development assistance program.

"The Committee also recommends Australian Government support for ASEAN, UN and multilateral efforts to hold leaders of the Tatmadaw to account; investigate serious human rights violations; deter further violent repression; and restore civilian democratic rule," Mr Sharma said.

The report provides an overview of the diplomatic options available to Australia to positively influence developments in Myanmar, drawing on evidence from a wide range of diaspora groups, human rights organisations, leading experts and government.

The committee made eight recommendations, including:

  • that the Australian Government continue to pursue the restoration of civilian rule in Myanmar as a foreign policy objective;
  • for official Australian engagement with the legitimately-elected representatives of Myanmar, and for caution to avoid conveying legitimacy to military rule in Myanmar;
  • continuation of Australian development assistance directed to humanitarian needs and civil society, but directed through non-government entities;
  • further consideration of sanctions, including financial sanctions, against senior figures in the Tatmadaw and Tatmadaw-linked entities; and
  • exploration of pathways to permanent residency for Myanmar nationals in Australia.

Further information about the inquiry, including the report, submissions, transcripts, and responses to questions on notice, can be found on the Committee’s website.

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Four new inquiries for the Public Works Committee

THE Parliamentary Standing Committee on Public Works has announced it will scrutinise four new projects referred in June 2021

Details of the projects are:

It is anticipated the committee will conduct a public and in-camera hearing for each inquiry throughout August 2021. The committee wants to hear from all individuals or organisations interested in the projects. The deadline for submissions are listed on the Public Works Committee website.

The Parliamentary Standing Committee on Public Works is not involved in the tendering process, awarding of contracts or details of the proposed works. Inquiries on these matters should be addressed to the relevant Commonwealth entities.

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