THE Institute of Public Accountants (IPA) has welcomed legislative changes to section 46 of the Competition and Consumer Act 2010.

“The IPA has long advocated change to the misuse of market power provision within the Act and has continually voiced support for the recommendations falling out of the Harper Competition Policy Review,” said IPA chief executive officer, Andrew Conway.

“We commend the Government for introducing the changes we have been fighting for; changes that will better protect small business in a more equitable, competitive market.

“The amendment will help address anti-competitive conduct and protect the competition process rather than the interests of individual players in the market.  This is particularly important to small business.

“Considering 97 per cent of all Australian businesses is made up of small businesses, this is a huge win.

“This change and other recommendations from the Harper Review which are currently before the House of Representatives will go a long way in forming a fairer playing field for all and will enhance Australia’s capacity to compete globally,” said Mr Conway.

publicaccountants.org.au

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THE House of Representatives Environment and Energy Committee will hold two public hearings this week for the inquiry into modernising Australia’s electricity grid.

On Thursday, the Committee will hear from researchers from the Australian National University, the University of Melbourne, the University of New South Wales, and the University of Sydney at a public hearing in Canberra.

On Friday, the Committee will travel to Brisbane to hear from representatives of the agricultural sector, along with ERM Power and the University of Queensland Energy Institute.

The Chair of the Committee, Mr Andrew Broad MP, said the Committee was seeking to gather a range of perspectives on the electricity system. “The hearing in Brisbane is a valuable opportunity for the Committee to hear about the importance of electricity supply in the agricultural sector,” Mr Broad said.

The Deputy Chair of the Committee, Mr Pat Conroy MP, said the Committee was looking forward to hearing from energy researchers about the changing nature of the grid. “The Committee is keen to hear about the latest research into the electricity transmission and distribution system, and about opportunities to modernise the grid,” Mr Conroy said.

As part of the inquiry, the Committee is encouraging members of the community to share their views on the electricity system via an online questionnaire.

Further information about the inquiry, including submissions from organisations appearing at the hearings, is available on the inquiry website.

Canberra public hearing details:
9:45 am to 11:15 am, Thursday, 17 August, Parliament House, Canberra

Brisbane public hearing details:
1:30 pm to 3:30 pm, Friday, 18 August, Parliament House, Brisbane

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

Interested members of the public may wish to track the committee via the website. 

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THE House of Representatives Committee on Economics will conduct further public hearings with Australia’s four major banks in October as part of its ongoing scrutiny.

The committee’s First Report was published in November 2016, following on from the initial public hearings in October. The committee affirmed the ten recommendations of its November Report in April 2017 following on from the further public hearings held in March of this year. In the May Budget, the Government broadly adopted nine of the Committee’s ten recommendations.

Recommendations adopted by the Government relating to the banking sector include a one-stop-shop for consumer complaints, a regulated executive accountability regime, and new powers and resources for the ACCC in investigating competition issues in the setting of interest rates.

The committee’s mandate from the Government to review the banking sector is ongoing. The Chair of the committee, Mr David Coleman MP, stated that "these hearings provide an important mechanism to hold the four major banks to account before the Parliament."

The hearings with the banks will be held across two days in October. In finalising the dates for the hearings, the committee took into account the views of AUSTRAC in relation to its current proceedings against the Commonwealth Bank. The allegations against the Commonwealth Bank are extremely serious and the committee notes that a Case Management meeting is scheduled for September 4.

Public hearing details: 
Wednesday, 11 October, 9.15 am to 4:15 pm, Committee Room 2R1, Parliament House, Canberra

9.15am – 12.15pm Westpac
1.15pm – 4.15pm ANZ

Friday, 20 October., 9.15 am to 4.15 pm, Committee Room 2R1, Parliament House, Canberra

9.15am – 12.15pm NAB
1.15pm – 4.15pm CBA

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

 Interested members of the public may wish to track the committee via the website. 

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WITH Christmas 2017 fast approaching, the Australian Retailers Association (ARA) are proud to release the findings from the #StateOfXmas 2016 report.

The ARA have partnered with Temando to discover how retailers are tapping into the benefits of shipping and fulfilment technology to excel over the Christmas trading period.

The #StateOfXmas report produced a number of findings. One key message from the report identified how a lack of innovation and unavailability of in-demand shipping options currently cause friction in the online shopper’s journey, which severely impacts the performance of Australian retailers over the festive season.

With sales in the 2016 Christmas period declining by 0.1 percent against a forecast rise of 0.3 percent, #StateOfXmas comes just in time for the 2017 holidays.

ARA Executive Director Russell Zimmerman said the report highlights an opportunity for retailers to embrace change, especially in the face of increasing online competition locally and abroad.

“Traditional systems and out-dated processes are crippling many retailers – preventing them from providing seamless end-to-end shopping experiences to the multitude of consumers in a cost-effective manner,” Mr Zimmerman said.

“As Christmas is the biggest trading period of the year, it is important that retailers re-think their shipping and fulfillment strategies to give them a competitive edge.”

The #StateOfXmas report found that despite consistently high demand from shoppers, a lack of variety in shipping options is leading to an increase in cart abandonment. However, retailers who succeeded in improving their shipping and fulfillment processes enjoyed a range of benefits including better customer satisfaction, operational efficiency and conversions.

Temando’s Vice President of Marketing, Hamish Grant said those retailers who improved their shipping and fulfilment practices will reap the rewards from the 2017 Christmas trading period.

“Last-minute shoppers need to know that their holiday orders will arrive in time, but only 2 percent of retailers provided extended after-hours or weekend delivery over this period,” Mr Grant said.

“Standard cut off times are already limiting Christmas transactions, so retailers focused on capitalising on this season must offer quick, easy and fast shipping options that work for every type of shopper.”

Mr Zimmerman echoed Mr Grant’s comments and said the #StateOfXmas results speak for themselves.

“Retailers will enhance their profit margins when they improve their shipping and fulfilment practices. These wins will not only extend customer lifetime value, they’re absolutely essential for survival,” Mr Zimmerman said.

To download a copy of the #StateOfXmas report please click here.

 About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,000 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 Foreign Affairs and Aid Sub-Committee of the Parliament’s Joint Standing Committee on Foreign Affairs, Defence and Trade has tabled its interim report for its inquiry into establishing a Modern Slavery Act in Australia.

The Sub-Committee is investigating whether elements of the UK Modern Slavery Act 2015 could be introduced in Australia, particularly the UK requirement for businesses and organisations to report on how they ensure their global supply chains are free of slavery and human trafficking.

The Sub-Committee’s interim report, Modern slavery in global supply chains, summarises the evidence heard so far on the issue of global supply chain reporting. The report highlights the strong support from businesses, unions and NGOs for the introduction of supply chain reporting requirements for businesses and organisations operating in Australia. The report also highlights support for an Independent Anti-Slavery Commissioner to coordinate and oversee Australia’s response to combatting modern slavery.

The report recommends that the Australian Government consider introducing a Modern Slavery Act in Australia, including supply chain reporting requirements and an Independent Anti-Slavery Commissioner. The report also offers in-principle support for a number of proposed elements of a Modern Slavery Act and identifies areas for further consideration in the Sub-Committee’s final report.

Chair of the Foreign Affairs and Aid Sub‑Committee, Mr Chris Crewther MP, said the Sub-Committee welcomed the Australian Government’s recent announcement supporting a mandated modern slavery reporting requirement for businesses and organisations operating in Australia, as well as a central repository.

“We have a unique, once-in-a-lifetime opportunity to take the lead on stamping out modern slavery for good, particularly with over 30 million victims in our region.”

“Let us not miss the opportunity to continue taking strong action on this issue. I look forward to working with the Sub-Committee for the remainder of this inquiry to recommend, then see implemented, strong action to eradicate this appalling crime. Modern slavery must stop.”

The Sub-Committee’s inquiry into modern slavery continues and its final report will address the other important issues raised by submitters and witnesses including support for victims, Australia’s visa framework and orphanage trafficking.

The interim report is available from the committee’s website: www.aph.gov.au/modernslavery.

 Interested members of the public may wish to track the committee via the website. 

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THE Northern Australia Joint Standing Committee will visit Broome and Perth from Monday, 21 August to Wednesday, 23 August as part of its Inquiry into Opportunities and Methods for Stimulating the Tourism Industry in Northern Australia.

The Committee Chair, the Warren Entsch MP, said Northern Western Australia is a hot spot for ecotourism and cultural tourism.

“The region has a wealth of tourism attractions including magnificent scenery, pristine coral reefs, a variety of recreational activities and cultural tourism,” Mr Entsch said.

“The tourism market has the potential to expand significantly through innovative solutions to provide greater access, the development of new infrastructure, and the creation of more ecotourism ventures and cultural experiences,” he said.

The Committee will hear evidence from tourism organisations, a variety of tourism operators, and Aboriginal community leaders and cultural tourism enterprises.

Public hearing details:
Monday, 21 August, 8.30 am to 3.40 pm, Shire of Broome Function Room, 27 Weld Street.
Tuesday, 22 August, 8.30 am to 12.30 pm, Shire of Broome Function Room, 27 Weld Street.
Wednesday, 23 August, 9.00 am to 3.40 pm, Committee Room 2, Legislative Assembly Committee Office, Level 1, 11 Harvest Terrace West Perth.

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

The hearing programs and further information about the Committee’s inquiry, including submissions and the terms of reference, are available on the Committee’s website.

Interested members of the public may wish to track the committee via the website. 

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MINISTER for Defence Industry, Christopher Pyne MP, today announced a new research agreement with industry to explore innovative technologies for protecting Australian Defence Force aircraft against missile threats.

Minister Pyne said this five-year agreement with Chemring Australia was signed in Adelaide today as part of the Defence Science and Technology (DST) Group Partnerships Week, and was a big step towards improving the countermeasures deployed to protect our aircraft.

“Chemring Australia and DST Group will explore capabilities and advanced techniques for the manufacture of high performance countermeasures that hide aircraft from radar detection and deflect heat-seeking missiles,” Minister Pyne said.

“The research will also examine the use of more efficient manufacturing technologies, such as resonant acoustic mixing, and novel concepts for pyrotechnic device. 

“This partnership will allow the development of an advanced flare capability to provide protection against increasingly sophisticated missile systems.

“I welcome these agreements which are designed to give Defence a capability edge. Chemring Australia specialises in the manufacture of countermeasures, sensors, and energetic systems.”

Partnerships Week is an annual external engagement event open to invited representatives from industry, academia, research agencies, Defence and stakeholders from the Science, Technology, Engineering and Mathematics community.

DST Group also leads the $730 million Next Generation Technologies Fund which complements the Defence Innovation Hub launched last year, as the core of the new Defence Innovation System outlined in the Defence Industry Policy Statement.

These two signature innovation research and development programs, together with the Centre for Defence Industry Capability, deliver on the Government’s $1.6 billion commitment to grow Australia's defence industry and innovation sector.

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THE Department of the Prime Minister and Cabinet will appear before the Infrastructure, Transport and Cities Committee in Canberra tomorrow to discuss the Australian Government’s plans to develop Launceston and Townsville.

At opposite ends of the country, the two cities are both subject to City Deals which aim to deliver transformative social and economic development through intergovernmental cooperation and strategic investment.

The Department’s appearance is part of the Committee’s inquiry into the Australian Government’s role in the development of cities.

Committee Chair, Mr John Alexander OAM MP, said it’s very important that the future of Australian cities is considered in conjunction with regional centres.

“Regional centres like Launceston and Townsville are just as important to the future prosperity of Australia as capital cities like Sydney or Melbourne,” Mr Alexander said.

“Australia’s cities and regional centres are interconnected on both an economic and social level. We need to ensure regional centres develop at the same pace as our capital cities and we’re interested in hearing how the government’s City Deals aim to achieve this.”

The Department of the Prime Minister and Cabinet said, “City Deals focus on leveraging cities’ unique strengths and responding to their specific needs”.

“Instead of nationwide policy programs delivered by different departments, negotiations with local stakeholders produce a unified deal that addresses a city’s priorities.”

Further information on the inquiry, including the full terms of reference, is available on the Committee website.

Public hearing details: 5.00 PM – 6.30 PM, TUESDAY 15 AUGUST, COMMITTEE ROOM 1R3, PARLIAMENT HOUSE, CANBERRA

5.00 pm  – 6.30 pm: Department of the Prime Minister and Cabinet
6.30 pm: Close

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

 Interested members of the public may wish to track the inquiry via the Committee’s website.

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