AS PART of its inquiry into nuclear power generation in Australia, the House of Representatives Select Committee on Nuclear Energy has released an interim report.

The committee was established to inquire into and report on the consideration of nuclear power generation, including deployment of small modular reactors, in Australia.

The committee has held 19 public hearings across Australia, which took important evidence from a range of stakeholders. The committee heard from global nuclear experts about the milestones and recommended approach for deploying nuclear power generation were the existing state and federal prohibitions on nuclear power in Australia lifted.

Evidence was also received from representatives of Australia’s science, energy and climate sectors — including federal government agencies responsible for Australia’s existing nuclear activities — who advised on key considerations and challenges for deployment in the Australian context. Many stakeholders, including First Nations, environment and community groups, commented on social licence issues for deploying nuclear power in Australia.

Chair of the committee, Dan Repacholi MP, the Federal Member for Hunter, said, "This interim report focuses on two key issues that have dominated the evidence we’ve received to date: whether nuclear power generation could be rolled out in Australia in an acceptable timeframe, and how affordable it would be – particularly compared to alternative power generation technologies currently available in Australia.

"From the evidence considered by the committee to date, it is apparent that it could be well into the 2040s before we might see nuclear energy generated in Australia if that form of energy generation were to be pursued. This would be too late to meaningfully support the achievement of Australia’s climate and energy targets or to help our coal power plant workforce and communities as we transition away from coal power," he said.

"We also heard that nuclear power is more expensive than the alternatives both to build and to use. As a country with no previous nuclear power experience, we were told that Australia could experience a 100 percent premium on the estimated cost to build nuclear reactors – a cost that taxpayers would likely have to pay."

On the question of small nuclear reactors, Mr Repacholi said, "Given they are still in the conceptual design stage and are not commercially available, small nuclear reactors simply don’t measure up as a viable option for powering Australia in the foreseeable future compared to proven solar and wind technologies which are already being rolled out and generating power."

The interim report states it does not present the committee’s final views or recommendations.

The committee thanked all those who contributed to the inquiry to date through written submissions, correspondence and giving evidence at public hearings.

The interim report and further information about the inquiry can be found on the Committee's website.

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THE Speaker of the House of Representatives, Milton Dick MP, is bringing the Australian Parliament House (APH) Flag Roadshow to schools across Sydney.

Under this program, the iconic flag that usually flies above Parliament House in Canberra will travel across Sydney, accompanied by local Members of Parliament, visiting local schools.

Over the next two days, the Speaker will take the APH National Flag to:

• Heathcote High School, with the Federal Member for Hughes, Jenny Ware MP;
• Gladesville Public School, with the Federal Member for Bennelong, Jerome Laxale MP;
• Box Hill Public School, with the Minister for Communications and the Federal Member for Greenway, the Hon Michelle Rowland MP; and
• Mimosa Public School, with the Federal Member for Mackellar, Dr Sophie Scamps MP.

This is an extension of the Speaker’s existing civics program to increase access to civics education and opportunities to experience Australian democracy, outside Canberra.

The APH Flag Roadshow program is designed to promote Australian democracy and is a gateway to broader discussions about civic engagement.

"The massive, iconic Parliament House Flag is something our young Australians should have the opportunity to see in real life," the Speaker said.

"This is an important way we can encourage students to develop an interest in and understanding and appreciation of the Australian National Flag – in a very practical way.

"I look forward to working with MPs from across the political spectrum, to deliver this program to schools across the country."

The APH Flag Roadshow complements the Parliament in Schools program, established by the Speaker in September 2022. An initiative to bring Parliament to regional and remote schools across Australia who may not get the opportunity to visit Canberra.

The Parliament in Schools Program has been delivered to over 145 schools across Australia by the Speaker, in collaboration with the Parliamentary Education Office and local Members of Parliament.

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THE House Standing Committee on Economics has released its report on Australia’s four major banks, concluding a series of annual public hearings throughout the 47th Parliament with executives from CBA, Westpac, ANZ and NAB.

These hearings are a key part of the committee’s long-standing role in scrutinising the major banks, a practice upheld since the 45th Parliament.

Chair of the Committee, Daniel Mulino MP, said, "The banks play a critical role in the economy and in the daily lives of Australians. Households and businesses have faced inflation, a sustained period of rising interest rates, and cost of living pressures. Mindful of this, the committee focused on how the banks are safeguarding both their institutions and the customers who rely on them."

The report highlights the significant influence of banks across many aspects of the economy and the importance of rigorous scrutiny to ensure transparency, accountability and responsible banking practices. It details key discussions on:

• the financial position of households and businesses amid ongoing economic pressures, as observed by the banks;
• the adequacy of the banks’ efforts to combat scams and protect consumers, particularly in the evolving social media landscape;
• the decline of cash services and concerning trends on branch closures, and whether the banks are properly supporting Bank@Post as an alternative;
• the evolving payments landscape, including concerns over surcharging on card payments at a time where the cost of living is elevated, and the banks’ influence in this space;
• the banks’ perspectives on housing affordability and supply challenges; and
• the banks’ commitments to environmental, social, and governance initiatives and their progress in meeting these responsibilities.

The committee also raised concerns about bank culture and conduct, noting that despite progress made since the Financial Services (Hayne) Royal Commission more than five years ago, serious issues persist.

Dr Mulino said, "The committee remains concerned about ongoing cultural and governance challenges within the banks. Recent developments—such as the increase in variable bonus caps for lenders and ASIC’s investigation into alleged misconduct by ANZ—demonstrate that parliamentary scrutiny of bank conduct remains essential."

Further information on the inquiry as well as a copy of the report can be obtained from the inquiry website.

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THE House Standing Committee on Industry, Science and Resources has released its report for its inquiry into food and beverage manufacturing in Australia, titled Food for Thought: The opportunities and challenges for Australia’s food and beverage manufacturing industry. The report has made 23 recommendations.

Chair of the Committee, Rob Mitchell MP, said, "By 2040, the global population is expected to reach nine billion. This will shape the global economic and consumer landscape, and Australia is well-positioned to capitalise on its ‘clean and green’ reputation and ability to innovate and expand product range to further increase its market share, both domestically and internationally'.

"This inquiry found many opportunities for expanding the Australian food and beverage manufacturing sector. These include export opportunities, integrating new technologies, building on Australia’s reputational and competitive advantages, and adding value to raw products to produce high-value goods.

"The committee has made several recommendations to take advantage of these opportunities, including developing a National Food Plan, increasing AusTrade assistance for small and medium enterprises looking to export Australian food and beverage products to Asia, identifying skills shortages in the industry, and supporting automation technologies."

Further information on the inquiry, as well as a copy of the report, can be obtained from the inquiry website.

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THE Joint Committee of Public Accounts and Audit has today released its report on public sector information technology (IT) procurement and projects.

The committee examined various large IT contracts over the course of the inquiry, including a visa processing system that was expanded to include other permit, licencing and registration processes; a system for managing parliamentary expenses; a system to evaluate suitable employment service providers; and a tool to enable administrators, service provider staff, employers and apprentices to exchange information in the Australian Apprenticeships Incentive Scheme.

Committee Chair, Linda Burney MP, said, "The committee’s main findings were that capability, planning and management shortfalls in these external IT contracts invariably led to poor outcomes."

The committee has made three core recommendations:

• that the Department of Finance improves its guidance to other entities, including more effective information on developing IT procurement plans;
• that the Department of Finance and the Digital Transformation Agency continue to collaborate on providing guidance and policy documents for IT procurements and projects; and
• that both agencies provide progress updates to the Committee on improvements to IT procurement practices.

Ms Burney said, "These sensible recommendations are underpinned by the absolute need to demonstrate value for money on behalf of the taxpayer, as required by the Commonwealth Procurement Rules and emphasised in multiple previous reports from this committee."

The report can be downloaded from the inquiry website.

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THE Defence Subcommittee of the Joint Standing Committee on Foreign Affairs, Defence and Trade will conduct its first public hearing into the Department of Defence Annual Report 2023–24 today.

The Subcommittee will hear evidence from the Department of Defence, government departments, non-government organisations and the Australian public across the inquiry’s focus items:

• Sovereign Defence Industrial Priorities;
• Defence Estate, Security and Resilience;
• AUKUS;
• Uncrewed/Autonomous Systems, AI and their integration into the Joint Force;
• Progress on the transformation to an integrated focused force;
• Australian international defence cooperation and competition;
• Other issues as communicated to Defence.

Chair of the Subcommittee, Brendan O’Connor MP, said, "Parliamentary committees are an important mechanism parliament uses to keep a check on government activities and government departments, and to hear from experts and public interest groups.

"This year’s Inquiry is focusing on priorities such as Sovereign Defence Industrial Priorities, Defence Estate, security and resilience, the AUKUS trilateral security partnership, uncrewed/autonomous systems, AI and its integration into the Joint Force, progress on the transformation to an integrated focused force, and Australian international defence cooperation and competition in a rapidly changing strategic environment.'

Further information is available on the Inquiry webpage with the hearing broadcast live at aph.gov.au/live.

Public Hearing Details

Tuesday, 18 February 2024, 9am – 2:00pm (AEDT)
Committee Room 1R3, Parliament House, Canberra

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A FEDERAL Parliamentary committee inquiry has undertaken extensive consultation with stakeholders including local governments, councils and shires. The inquiry received more than 280 submissions and held 16 public hearings in regional areas.

The House of Representatives Standing Committee on Regional Development, Infrastructure and Transport has today presented its interim report for the inquiry into local government sustainability.

The vast majority of local governments that made submissions to this inquiry and participated in public hearings spoke about how their role has evolved significantly from administering roads, rates and rubbish to navigating complex regulatory environments, managing limited financial resources, and addressing diverse and sometimes competing community needs and expectations.

The interim report makes no formal policy recommendations to government but highlights these emerging themes.

Chair of the Committee, Luke Gosling OAM, MP, said, "Local governments around Australia are increasingly being called upon to provide healthcare services and housing, manage ageing infrastructure and assets, and respond to current and future climate adaptation needs. These additional responsibilities are placing a significant financial strain on local governments who are struggling to meet community expectations.

"The committee is thoroughly reviewing the substantial evidence it has received to date and carefully considering the numerous and varied recommendations put forward in the submissions aimed at improving the sustainability of local governments.

"The committee is looking forward to announcing its final recommendations in due course," Mr Gosling said.

Further information about the inquiry, including published submissions, public hearing transcripts and an interim report are available on the inquiry webpage.

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THE House of Representatives Standing Committee on Economics will hold its first biannual public hearing of 2025 with the Governor of the Reserve Bank of Australia (RBA), Michele Bullock, and other senior RBA officials on Friday, February 21.

This will be the RBA’s first parliamentary appearance following its much-anticipated February 18 monetary policy decision.

Committee Chair Daniel Mulino MP said the RBA’s Tuesday cash rate call would be closely followed, with many Australian mortgage holders eager for relief.

"We know many Australians with mortgages have been making sacrifices, holding on and hoping for interest rates to ease," Dr Mulino said.

"Whether or not the RBA cuts the cash rate target next Tuesday, the latest inflation data is extremely encouraging. It suggests the end of the road is in sight, and that efforts by both the RBA and the Government to tame inflation without massive job losses are getting the job done."

The latest monthly data shows that the RBA’s preferred measure of underlying or core inflation – annual trimmed mean inflation – dropped to 2.7 percent in December 2024, down from 3.2 percent in November.

Dr Mulino noted that this is the first time trimmed mean inflation has fallen within the RBA’s target band since December 2021.

"The monthly data can be volatile," Dr Mulino said, "but this is still a major milestone – and the quarterly data also shows a sustained downward trend."

He noted that quarterly trimmed mean inflation was at 4 percent in the June 2024 quarter, then dropped to 3.6 percent in the September quarter and 3.2 percent in the December quarter.

Dr Mulino also noted that inflation had been brought down from its December 2022 peak of more than 8 percent (in headline terms) while keeping the unemployment rate "in the very low fours – a historic achievement".

Dr Mulino said the committee looked forward to discussing the RBA Board’s latest monetary policy decision, and the possible trajectory of monetary policy in 2025 under complex and uncertain global conditions.

Dr Mulino said the committee was also interested in the RBA’s Review of Merchant Card Payment Costs and Surcharging, and its progress implementing the Government’s once-in-a-generation reforms to RBA governance arrangements, including the creation of a dedicated Monetary Policy Board.

Public hearing details

Date: Friday, 21 February 2025
Time: 9.30am – 12.30pm
Location: Committee Room 2R1, Parliament House, Canberra

The hearing will be broadcast live at aph.gov.au/live and www.youtube.com/@AUSParliamentLive.

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