QUEENSLAND’s attractiveness as an investment destination for mining has dropped out of the global top ten according to a report from Canada’s Fraser Institute highlighted by the Queensland Resources Council (QRC).

QRC Chief Executive Ian Macfarlane said the clear message is that global investors have marked Queensland down because of policy uncertainty. 

"Investors don’t like surprises, which is why the sector is always talking about the need for policy certainty," said Mr Macfarlane. 

"The Queensland Government needs to be aware investors are watching every potential change in policy as having a direct impact on the investment profile of the State.

THOUSANDS of anonymous reports from concerned members of the community are assisting the Fair Work Ombudsman to target unlawful practices in workplaces across Australia and deliver outcomes for workers who might otherwise not seek help.

Since the launch of its Anonymous Report tool in mid-2016, the regulator has received more than 20,000 tip-offs alleging potential workplace breaches.

The reports from the public are leading to positive outcomes for vulnerable workers who may be unwilling or unable to reveal their identity and approach the Fair Work Ombudsman.

In one matter, Fair Work inspectors conducted an unannounced visit at a Sydney retail business after receiving an anonymous report alleging employees received as little as $8 per hour, cash in hand.

An audit of the company’s records uncovered evidence of contraventions in relation to pay rates, break entitlements and pay slip requirements.

Inspectors issued the company with a Compliance Notice and a contravention letter, resulting in approximately $50,000 in wages and entitlements being paid back to workers.

The company also increased pay rates to ensure compliance in the future.

THE Joint Committee of Public Accounts and Audit has launched an inquiry into the 2016-17 Defence Major Projects Report.

The JCPAA is a central committee of the Parliament with the power to initiate its own inquiries on the Commonwealth public sector.

The Committee has inquired into the Defence Major Projects Report on an annual basis since 2009 and will continue its oversight of the reporting of major Defence acquisitions through its inquiry into the 2016-17 Major Projects Report.

The total approved budget for the Major Projects included in this report is approximately $62 billion, covering nearly 59 per cent of the budget within the Approved Major Capital Investment Program.

The Committee invites submissions to the inquiry by Friday, 9 March 2018. A public hearing will be held on Friday, 23 March 2018.

Further information about the inquiry can be accessed via the Committee’s website.

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THE Defence Sub-Committee of the Parliament’s Joint Standing Committee on Foreign Affairs, Defence and Trade is holding a public hearing in Canberra on Friday 23 August for its inquiry into a Bipartisan Australian Defence Agreement.

Chair of the Defence Sub‑Committee, Senator Linda Reynolds CSC, said the Sub-Committee will hear from representatives from the defence industry, unions, academia and Defence on the risks and benefits of reaching a bipartisan agreement on defence capability planning.

“Strategic planning for Australia’s Defence is one of the fundamental tasks of government,” Senator Reynolds said. “The Sub-Committee looks forward to meeting with defence industry experts to explore options for providing long-term stability for the planning of Australia’s Defence capabilities, including a possible bipartisan defence agreement.”

Public hearing details: 9:00am to 2:30pm, Friday 23 February, Committee Room 1R3, Parliament House, Canberra

The full program for Friday’s hearing is available from the committee’s website.

The hearing will be broadcast live at aph.gov.au/live

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THE House of Representatives Standing Committee on Economics will conduct public hearings on 11, 12 and 19 October in Canberra as part of its ongoing scrutiny of Australia’s four major banks.

The Chair of the committee, Sarah Henderson MP, stated that "these hearings provide an important mechanism to hold the four major banks to account before the Parliament".

"The hearings will be conducted shortly after the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry hands down its interim report which is due by 30 September 2018. This will provide the committee with an important opportunity to scrutinise the banks on a range of matters including the interim findings of the Royal Commissioner," Ms Henderson said.

The committee has held three rounds of hearings and published three reports in November 2016, April 2017 and December 2017. The committee has made a suite of recommendations for banking reform, which have been broadly adopted by the Government.

Key reforms to improve outcomes for Australian consumers to date include: putting in place a one-stop shop for consumer complaints, the Australian Financial Complaints Authority; a regulated Banking Executive Accountability Regime; and, new powers and resources for the ACCC to investigate competition issues in the setting of interest rates.

The Government also adopted the committee's recommendations to establish an open data regime and change the regulatory requirement for bank start-ups in order to encourage more competition in the sector.

The hearing will be webcast live: http://www.aph.gov.au/Watch_Read_Listen

Public hearing details: Main Committee Room, Parliament House, Canberra

Thursday, 11 October 2018
9.15am to 12.15pm: Commonwealth Bank 
1.15pm to 4.15pm: Westpac

Friday, 12 October 2018
9.15am to 12.15pm: ANZ

Friday, 19 October 2018
9.15am to 12.15pm: National Australia Bank

The hearing will be broadcast live at aph.gov.au/live

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AS AUSTRALIA’s leading peak body for the retail industry, the Australian Retailers Association (ARA) is calling for a competitive corporate tax rate to sustain growth and drive prosperity for the country’s $310 billion sector.

Russell Zimmerman, Executive Director of the ARA, said the ARA works hard to advocate and support employers and employees working in the sector as the Australian retail industry employs 10% of the working population.

“The current trading environment has seen many retailers doing it tough, with last year’s retail trade figures averaging a 2.76 percent year-on-year growth, and retail trade growth down more than 1 percent on the 50 year average in 2017, the Government needs to intervene and offer some relief to the struggling industry,” Mr Zimmerman said.

“At 30 percent, Australia has one of the highest corporate tax rates in the advanced economic world, making it difficult for retailers to invest in jobs growth and increased wages that would benefit the economy.”

The ARA insists the present corporate tax rate currently discourages international and Australian businesses from investing in Australia and calls on all sides of politics to drive investment and accept the economic benefits tax cuts will create.

“The current corporate tax rate discourages international and Australian businesses from investing in Australia and providing further job opportunities, as many Australian and offshore businesses choose to invest in, and headquarters overseas,” Mr Zimmerman said.

“The Senate needs to cooperate with the Government’s plan to lower the corporate tax rate below 25% so local retailers are able to invest in their businesses and grow the Australian economy.”

Retailers have told the ARA that balancing rising cost pressures with low sales growth and a high-tax environment, it is becoming increasingly difficult with some retailers even struggling to pay their rent.

“As retailers are already struggling in a volatile trading environment, the ARA will continue to advocate for a reduced company tax rate before it stifles future employment and growth,” Mr Zimmerman said.

“The Australian retail industry currently employs more than 1.2 million people. If the corporate tax rate is not reduced to be more in line with our international counterparts, employees and the underemployed will be the ones who suffer, as employees are the heart and soul of retail.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $310 billion sector, which employs more than 1.2 million people. As Australia’s leading retail peak body industry, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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THE Joint Standing Committee on Electoral Matters has extended the submission deadline for its inquiries into matters relating to Section 44 of the Constitution and on the Electoral Legislation Amendment (Electoral Funding and Disclosure Reform) Bill 2017.

The submission deadline for both inquiries is now March 9, 2018.

Information on the inquiries is available at https://www.aph.gov.au/em.

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THE Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has welcomed the passing of legislation to establish the Australian Financial Complaints Authority (AFCA) last week..