THE Queensland Resources Council (QRC) has welcomed the LNP’s commitment to unlock the North West Minerals Province to fast-track projects, investment and jobs with the appointment of a dedicated Deputy Coordinator-General.

QRC chief executive Ian Macfarlane said the LNP had responded to the QRC’s request for the role to be created to address the constraints identified in reviews into the future development of the North West Minerals Province.

The request was contained in a joint QRC and Association of Mining and Exploration Companies’ Resources Industry Recovery Agenda.

“Queensland has globally-significant reserves of copper, nickel, zinc, graphite, and molybdenum and major deposits of cobalt, rhenium, scandium, tantalum, niobium, lithium, rare earths and vanadium,” Mr Macfarlane said.

“The development of the North West Minerals Province will put Queensland ahead in terms of providing the critical minerals for battery and renewable technologies and advanced manufacturing.

“The North West Minerals Province will not only deliver for Townsville and the North, but for Australia with the insatiable global demand for these minerals.”  

Last year, QRC worked with the Queensland Government on the development of its $13.8 million five-year package to encourage new discoveries of critical minerals to attract more overseas investment, drive more international trade and create more local jobs and economic prosperity.

Mr Macfarlane said the LNP’s commitment today follows its earlier commitments to the QRC on behalf of the resources industry, including:

• a 10-year freeze on resource royalty rates and thresholds;
• a faster approvals process, with key performance indicators tracked and published to restore industry confidence in the Queensland Government;
• $8 million for minerals exploration and a promise to cut crippling electricity costs faced by the mineral sector;
• support for the development of the CopperString 2.0 high voltage transmission line connecting the NWMP with the National Electricity Market in partnership with the Federal Government.

Click here to view the joint QRC-AMEC Resources Industry Recovery Agenda. A copy of the agenda was provided to all parties.

www.qrc.org.au

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THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed the Australian Competition and Consumer Commission's (ACCC's)  legal proceedings against printing company Fuji Xerox Australia over allegations of Unfair Contract Terms impacting small business customers.

The ACCC has initiated Federal Court proceedings, alleging that nine types of Fuji’s standard form small business contracts contain 173 unfair contract terms.

The ACCC alleges the unfair terms include automatic renewal terms, excessive exit fees and unilateral prices increases in relation to contracts between Fuji and its small business customers for the supply of printing goods and services and technical assistance since at least October 2018.

“My office has received a number of complaints from small businesses customers of Fuji Xerox and other companies in the printing industry more broadly,” Ms Carnell said.

“The ACCC is currently not able to determine if a clause amounts to an unfair contract term. Instead, the regulator needs to seek a determination from the court.

“My office continues to recommend enhanced capabilities of regulators to determine if terms are unfair and for significant penalties and infringement notices to apply to breaches," she said.

“We maintain that unfair contract terms need to be illegal and the penalties should be large enough to act as an effective deterrent.

“By making unfair contract terms illegal, the Australian Competition and Consumer Commission (ACCC) would be able to penalise big businesses.

“Small businesses has been waiting for changes to level the playing field for too long.”

To date, ASBFEO has recommended:

-          Unfair Contract Terms be made illegal

-          Significant penalties and infringement notices to apply to breaches

-          Enforcement capabilities of regulators enhanced to determine if terms are unfair

-          Legislation extended to cover all contracts valued up to $5 million

-          Definition of a small business be changed to those with less than $10 million turnover.

www.asbfeo.gov.au

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WITH Australia’s economy still experiencing the impacts of COVID-19, this Friday the House Economics Committee will gather key financial regulation bodies to discuss consumer protection, responsible lending, and other issues.

Chair Tim Wilson said witnesses from the Australian Competition and Consumer Commission, Australian Prudential Regulation Authority and Australian Securities & Investments Commission would appear at Friday’s hearing.

"The COVID-19 pandemic has created unprecedented disruption and uncertainty in the financial sector," Mr Wilson said.

"Now, more than ever, it is essential to maintain strong prudential regulation; promote competition; and ensure fair and transparent dealings to safeguard financial stability and consumer trust in the financial sector."

The hearing brings together separate inquiries from the committee into each body’s annual reports.

"It has been a year since we saw the ACCC before the committee, and I am looking forward to hearing how the ACCC is protecting the interests of consumers in sectors like tourism and insurance, as well as progress on their media code," Mr Wilson said.

"Of particular interest to the committee is hearing from ASIC regarding its guidance on the responsible lending obligations in light of the RBA Governor’s recent evidence to the committee, as well as whether they are taking action against super funds acting inappropriately," Mr Wilson said.

"The committee is also interested in hearing how APRA is promoting strong prudential regulation and operational resilience amongst financial institutions, including super funds."

Mr Wilson said the committee was keen to scrutinise the ACCC on its response to the pandemic, including enforcement activities, review of hardship policies, its COVID-19 Taskforce, and maintaining and promoting competition.

In addition, the committee would also examine the Australian Energy Regulator. In particular, the committee was interested in the AER’s efforts in protecting energy customers and the energy market during the COVID-19 pandemic.

Public hearing details

Date: Friday, 23 October 2020
Time: 9.30am to 5pm
Venue: Committee Room 1R3, Parliament House, Canberra, and via videoconference

The hearing will be broadcast live (audio only) at aph.gov.au/live.

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THE Australian Small Business and Family Enterprise Ombudsman Kate Carnell has thrown her support behind ACCC chairman Rod Sims’ tough stance on Unfair Contract Terms.

The Ombudsman welcomed Mr Sim’s National Press Club Address, calling on the Federal Government to make Unfair Contract Terms between big and small businesses illegal and subject to harsh penalties.

“It’s hard to believe that in 2020 it is still not illegal for a big business to impose unfair contract terms on a small business,” Ms Carnell said. “Small business has been waiting for changes to level the playing field for too long.

“In November 2016, Treasury legislation amendment (Small Business and Unfair Contract Terms) Act 2015 took effect, that legislation was reviewed in 2018 and here we are, another two years on and small businesses continue to be adversely impacted by big businesses with legal impunity. It’s clear that change is long overdue.  

“I wholeheartedly agree with Mr Sims’ statement that if we want unfair contract terms to stop hurting Australian small businesses, they need to be illegal and the penalties should be large enough to act as an effective deterrent," Ms Carnell said.

“My office has been advocating for unfair contract terms legislation to be strengthened for a considerable time now - most recently in our COVID-19 Recovery Plan and our comprehensive submission to Treasury’s Review of Unfair Contract Term Protections for Small Business, in March this year.”

To date, ASBFEO has recommended:

• Unfair Contract Terms be made illegal
• Significant penalties and infringement notices to apply to breaches
• Enforcement capabilities of regulators enhanced to determine if terms are unfair
• Legislation extended to cover all contracts valued up to $5 million
• Definition of a small business be changed to those with less than $10 million turnover

“Currently where a standard form contract contains an unfair contract term, the only way for a small business to take action is through the court system. And even if the term is proven to be unfair, there is no penalty to the big business,” Ms Carnell said.

“Phase one of our Access to Justice Inquiry found small businesses are unlikely to take action when faced with an unfair contract term in their standard form contract. Understandably, they are reluctant to damage commercial relationships, and lack the resources and time to pursue litigation.

“By making unfair contract terms illegal, the Australian Competition and Consumer Commission (ACCC) would be able to penalise big businesses," Ms Carnell said.

“The sooner Unfair Contract Terms between big businesses and small businesses is made both illegal and subject to big stick penalties, the better.”

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ENTRIES are now open for Shop! ANZ’s 23rd annual Retail Marketing Awards, with the best in Australian retail marketing campaigns to be recognised across 26 categories, covering physical displays and shopper experience.

The prestigious Shop! Awards recognise and reward best practice, innovation, and excellence in retail and shopper marketing. Open to both Shop! ANZ members and non-members, entrants vie for gold, silver and bronze prizes, in addition to the award’s highest honour, the Tom Harris Retail Marketing Award, named after Shop! ANZ founder, Tom Harris.

The 2020 Awards program will boast a number of new features, including a new culturally sensitive trophy, four new categories and an extended eligibility period to take into account the impact of the Covid-19 pandemic on retail marketing.

Shop! ANZ general manager Carla Bridge said despite the setback of Covid-19 restrictions earlier in 2020, this year’s awards were shaping up to be the biggest and best yet.

“Like many, Covid-19 has afforded us the opportunity to reinvent the way things have been done in the past, and as a result we’ve launched a number of new categories to cater to the market where we are at now, as well as overhauling some historic elements that were in need of a modern approach," Ms Bridge said.

“The historic ‘cigar shop Indian’ statuette trophies will be replaced this year for a new and exciting design to be launched on the awards night that we feel is a better reflection of our industry and caters to the range of cultural sensitivities in the multi-faceted world we live in,” Ms Bridge said.

“We’ve also introduced two one-off Covid-19 related categories to recognise the impact that corona virus restrictions have had on the way we market to shoppers in retail environments and beyond. Retail marketing these days has a much broader remit than the store footprint, and corona virus has really cemented that this year.”

Submissions are open to January 18, 2021. Entries must have been in market in the period between July 1, 2019 and December 31, 2020. Australian and New Zealand designers and producers of retail marketing material, brand owners, agencies, suppliers, and retailers are eligible to enter the awards.

New Categories for 2020:

Covid-19-Safe Retail Continuity Product

Awarded to the best product created specifically to help or enable brands and retailers of any type to continue operations 'Covid Safe' for employees and shoppers. May also include interesting/innovative integration of technology and sensory components that work together to create a greater connection with shopper. Must have been infield between March 1 2020 and December 31 2020.

Campaign Response to a Covid-19 Changing Shopper

Awarded to the best campaign or retail transformation project designed specifically to cater to changes in shopper behaviour or challenges arising from the Covid-19 pandemic and social restrictions. Entries must have an insight or address a new shopper behaviour created by Covid-19, taking into consideration changes to shopping environments and behaviours can include one or several elements. This category may also include supporting of a business 'pivot' from their core business due to Covid-19. Must have been instore between March 1 2020 and December 31 2020.

Produced in ANZ

Awarded to the best Australian or New Zealand produced temporary or permanent display in any Australian or NZ retailer. Entries must be 100 percent produced in Australia or NZ (excluding componentry/some materials) by an Australian or New Zealand-based business. All processing of raw materials such as printing, fabrication of metal work and timber etc as well as assembly and packing of the unit must be completed in either Australia or NZ.

Winners will be announced at retail marketing’s night of nights, the Shop! Awards Gala Dinner, on Thursday, March 25, 2021. Tickets can be purchased at www.shopassociation.org.au/events/2020-awards-gala-dinner. Bookings made before December 31 receive a 10 percetn earlybird discount.

Awards criteria, and step by step guides on how to enter the Awards online are available at www.shopassociation.org.au/enter-awards

For more information, or to enter the Awards, visit www.shopassociation.org.au/about-awards

Shop! ANZ 2020 Retail Marketing Awards categories:

Physical Store
- Large or Department Store
- Grocery Store (food) –Temporary Display & Permanent Display
- Grocery Store (non-food)
- Liquor – Temporary Display & Permanent Display
- Petrol, Convenience & Route
- Health & Beauty – Temporary & Permanent
- Consumer Electronics – Temporary & Permanent
- Specialty Retail, Lifestyle & Service Providers  – Temporary Display & Permanent Display
- Category Management
- Window Displays
- Store Design
- POP THIS POP THAT Retail Industrial Design – Temporary & Permanent
- Covid-19-Safe Retail Continuity Product

Shopper experience
- Digital Instore, Mobile, Social & Online
- Experiential
- Sales Promotion
- Occasion-based Shopper Campaign
- Integrated Path to Purchase Campaign
- Campaign Response to a Covid-19 Changing Shopper

Pinnacle and special awards
- People’s Choice Award
- Environmental Stewardship
- Best Design & Innovation
- Best Display
- Best Shopper Experience
- Tom Harris Retail Marketing Award (Best in Show)

About Shop! ANZ

Formerly known as POPAI, Shop! is the only global, not for profit industry association exclusively advocating for excellence in shopper marketing and retail experience. With 20 offices covering 45 countries and over 1700 member companies worldwide, Shop! brings global best practice intelligence, resources, recognition and networks and to our members.  www.popai.com.au or email www.shopassociation.org.au.

About the Shop! Marketing at Retail Awards:
The annual Shop! ANZ Marketing at Retail Awards recognise and reward outstanding retail marketing campaigns across 26 categories, covering physical displays and shopper experience. Open to both Shop! ANZ members and non-members, entrants vie for distinguished Gold, Silver and Bronze prizes. Award winners will be announced at Shop!’s Awards Gala Dinner on March 25 2021, at Doltone House Jones Bay Wharf, Sydney. For more information on the Awards or to view entry case studies, visit www.shopassociation.org.au

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INDUSTRY bodies Industry Super Australia and Women in Super say the stage two tax cuts should be matched by a change to the Low-Income Superannuation Tax Offset (LISTO) in a move that would add tens of thousands of dollars to the retirement savings of more than 700,000 women.

The LISTO was aligned with the tax-free threshold and 19 percent tax bracket and matches superannuation guarantee contributions – but the tax cuts have moved those brackets up the scale. But the LISTO rate has stalled at $37,000 taxable income and the maximum tax refunded is $500 a year, seeing hundreds of thousands of women left behind.

More than 1.2 million Australians would see a boost in their super savings by increasing the LISTO to cover workers earning up to $45,000.

The changes would benefit 705,000 women who would take home 60 percent of the extra payments – making women the biggest winner from the measure. Each worker would get about $400 an extra on average.

“On average women are still retiring with almost half the amount of super than men," Industry Super Australia chief executive Bernie Dean said. “This proposal will put more money into women’s super-balances early in life – going someway to bridge the gender pay gap that unfortunately persists in retirement."

The Budget tax reform moved the 19 percent tax bracket to $45,000 and has lowered the tax concession to 3.5 cents in the dollar, dramatically reducing the incentives to contribute to super for hundreds of thousands of Australians, most of whom are women.

Industry Super Australia and Women in Super say the LISTO cap needs to be immediately increased to $640 to maintain the integrity of the measure. The LISTO should also increase in line with the legislated lifts to the Super Guarantee.

The LISTO is important to ensure lower income earners receive some tax relief for saving for retirement," Women In Super chair Catherine Wood said. “It can never match the $10,000 plus annual tax break received by high income earners, and the government should at least maintain the integrity of the provision which impacts over half the female workforce.”

“Young women on lower incomes have had to access their superannuation to get them through the pandemic. The least the government can do is to keep the LISTO relevant.”

More than 200,000 women under 30 would get the super boost, providing vital early career contributions that make the biggest difference to the final nest egg. The changes could lead to a 30-year-old woman earning $40,000 being up to $56,170 better off at retirement.  

Women would get $291 million of the super tax refunds and the proposal would provide $488 million in super tax breaks to those earning less than $45,000. It would be a much-needed super boost after women withdraw about $14 billion from super under the government’s early release scheme and ISA analysis shows a quarter of female applicants effectively drained their balance.     

Data suggests that many women become eligible for the tax break about the time they leave the workforce or reduce hours to raise children. About a third of all new recipients of the proposed LISTO increase would be women in their 20s and 30s.

This is also the stage in life when the gender super gap widens - the average super balance gap of women doubles from 15 percent less than men at 30 to 30 percent less once a woman reaches her 40s.

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VOTERS in marginal Queensland seats are willing to support political parties at this month’s State Election that commit to policies supporting Queensland and Australian contractors ahead of foreign multinationals.

An exclusive poll for Australian Owned Contractors (AOC) of more than 500 voters across 12 marginal Queensland electorates revealed that 90 percent of voters in these key seats wanted to stop the foreign domination of Queensland major infrastructure projects.

Voters in these key electorates feel so strongly about the issue that 49 percent indicated it would influence their vote at the State Election, with a further 34 percent saying it might influence their vote.

Currently, more than 80 percent of infrastructure projects in Queensland in excess of $100 million were awarded to foreign owned contractors.
AOC recently publicised research that shows five out of Queensland’s six biggest transport infrastructure projects – worth $8.9 billion – have been awarded to foreign owned companies in the last five years.

AOC director Scott Power said at a national level, 95 cents in every dollar spent by governments on major infrastructure projects ($500 million-plus) goes to foreign multinationals.

“Voters in key marginal seats want our politicians to change the rules and provide more opportunities for local companies to build Queensland,” Mr Power said.

“Queenslanders are not happy that profits are flowing overseas. They want Queensland and Australian owned business to take part in head contracts and deliver more of the state’s infrastructure.”

The polling also revealed that 79 percent of voters in these seats were unaware that all of Australia’s major construction companies were now foreign owned and 63 percent were unaware that most major contracts were being awarded to these major companies.

“This is why the AOC has embarked on our Let Us Build Queensland campaign,” Mr Power said.

“The campaign provides Queenslanders and Australians the opportunity to ensure their voice is heard by signing our petition.”

AOC is calling for Queensland and Australian politicians to change the rules and ‘unbundle’ infrastructure projects into smaller packages so Queensland and Australian companies can bid for them.

If a large contract ($500 million-plus) cannot be broken up, AOC is calling on the government to ensure that Australian companies are still able to play a role alongside foreign multinationals through procurement practices that ensure local industry sustainability.

www.letusbuild.com.au

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A SURVEY of 600 small business owners from Color Of Change and  the small business organisation Main Street Alliance has revealed disproportionate pandemic impact on black American businesses, a flawed Paycheck Protection Program and the devastating outcomes of continued government inaction

In the US, critical federal coronavirus relief legislation remains stalled in negotiations between lawmakers and the White House.

Barring swift and decisive action by Congress to provide direct grants to black small business owners, the poll indicated black small businesses were on the brink of extinction, with 46 percent either already forced to close or planning to close within the next six months.

The new nationwide poll surveyed 600 small business owners representing a range of demographics on the impact of COVID-19 on their businesses as well as their views of federal coronavirus relief measures. Coupled with the findings of Color Of Change’s previous Paycheck Protection Program poll released in May, and stories from Main Street Alliance members this Fall, the results of the new survey clearly reinforce the dire need for both improved and immediate government relief in order to save black small businesses and the communities they prop up.

“Our new poll emphasises what so many black small business owners already know: unless Congress works quickly to pass new relief legislation and address the racial inequities that exist within current relief measures, a disproportionate number of black small businesses will shutter forever,” Color Of Change president Rashad Robinson said.

“Small businesses are the cornerstone of our communities. The devastating consequences of these closures will ripple throughout black communities and last for generations. Our federal government can no longer wait to bring immediate, accessible relief to black small businesses.”

Black-owned businesses not only generate billions of dollars for the economy annually and create thousands of jobs but also provide critical avenues of upward mobility and independence for black people, generate monetary support for racial justice causes, and create physical spaces where employees and community members can engage in meaningful activism.

In fact, the new survey shows black and Latinx owners are more likely than Asian and white owners to be engaged in a range of community activities. Additionally, black small business owners are most likely to make statements in support of racial justice causes at 46 percent, in comparison to 24 percent of Latinx owners, 21 percent of Asian owners, and 14 percent of white owners.

The decimation of black small businesses therefore threatens not only individual black people and families but entire communities and racial justice movements.

Beyond illustrating the unanimous need for relief, the survey also indicates that any new measures must better address the needs of black small businesses. The results paint a picture of how the Paycheck Protection Program (PPP) and other federal relief measures present too many barriers to access and offer insufficient support to black businesses.

Despite being more likely to apply for PPP support, black small business owners had to wait longer to hear back about their application and were less likely to receive the amount of assistance they requested. Only 33 percent of black PPP applicants received a response within two weeks, whereas 50 percent of Latinx and 44 percent of white recipients heard back in two weeks. Further, only 37 percent of black small business owners received the amount of assistance they requested.

The inequities and hurdles baked into the PPP application process and existing legislation have fueled sentiment among small business owners that COVID relief measures were not designed to help them. Across racial and ethnic subgroups, the poll shows that a majority of small business owners believe COVID-19 relief packages were passed in the interests of major corporations rather than small businesses and working people. Black owners were most likely to believe this, with 77 percent agreeing.

“As Senate Republicans scramble to push through the installation of a new supreme court justice, the stakes of this moment couldn’t be higher for millions of small businesses and working families across our nation suffering financial devastation from the ongoing economic impacts of COVID,” said Amanda Ballantyne, executive director of Main Street Alliance.

“Our polling results are clear on what small business owners believe they need to succeed. With the right investments in long term federal relief designed to rebuild our struggling small business sector, we can not only stem the tide of economic loss, we can rebuild our economy and put ourselves on a path to a more equitable and sustainable economy where small business owners and working people can thrive. But we do not have months to wait.”

The survey shows that while grants are a priority across business groups, black business owners were most likely to see federal grants as a top priority compared to other racial groups, indicating the need for direct grants rather than loans as well as measures like PPP set-asides for businesses with 10 or fewer employees — a category an overwhelming majority of black businesses fall under. 

A summary of key takeaways here.

Methodology:

Lake Research Partners designed and administered this survey that was conducted online nationwide between August 31 and September 16, 2020. The survey reached a total of 600 small business owners with oversamples of 100 black small business owners, and 100 Latinx or Asian American or Pacific Islander small business owners. The sample was drawn from an online panel of small business owners and respondents were screened to be the current owner of a small business in the US, who operates and makes decisions for the business, operates a for profit business, and employs 0-49 employees including themselves and excluding contractors, with a  cap of 25 percent of respondents who employed one person before the pandemic and currently employ one person. To ensure the data reflects attributes of the actual population of small business owners in the US, the base sample was weighted by gender, region, age, race, and number of employees prior to the COVID-19 pandemic. The sample of black small business owners was weighted by gender and age. The sample of Latinx and Asian American Pacific Islander small business owners was weighted by gender, region, race, and number of employees prior to the COVID-19 pandemic. The overall margin of error for the entire sample is +/- 4.0. 

About Color Of Change

Color Of Change is the nation’s largest online racial justice organisation. It helps people respond effectively to injustice in the world around them. As a national online force driven by over 7 million members, Colour of change moves decision-makers in corporations and government to create a more human and less hostile world for black people in America. www.colorofchange.org.

About Main Street Alliance

The Main Street Alliance is a national network of small business coalitions working to build a new voice for small businesses on important public policy issues. Main Street Alliance members are working throughout the country to build policies that work for business owners, their employees, and the communities they serve. www.mainstreetalliance.org.

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