AS ANNOUNCED by Iron Mountain and Recall Holdings (ASX: REC) on March 10, Iron Mountain has offered a draft proposed divestment undertaking to the ACCC.

The proposed undertaking would involve Iron Mountain divesting its existing Australian business, excluding its local records management customers in the Northern Territory as well as its data management business.

SHOPPING TROLLEYS around Australia are beginning to fill up with Easter goodies this week, according to the Australian Retailers Association (ARA), with under two weeks until the Easter holiday period kicks off.

Unlike Christmas, shopping for Easter generally takes place in a shorter period of time, with the bulk of Easter related purchases taking place in the fortnight prior to Good Friday.

ARA Executive Director, Russell Zimmerman, said that despite supermarkets who begin to push the sale of chocolate eggs and hot cross buns from New Year, the majority of sales do not occur until much closer to Easter.

“Spending on gifts and entertaining for Easter really begins to ramp up from now on, with a peak in Easter-related spending expected in the five days prior, from March 20 to 24,” said Mr Zimmerman.

“Hot selling items will of course be chocolate and sweets, hot cross buns, and seafood, and we’ll also see a general spike in sales of food and beverages as consumers make purchases for Easter celebrations with family and friends.

“As stores are unable to trade by law on Good Friday and Easter Sunday, shoppers will be stocking up on all the necessities to tide them over for those days when they aren’t able to get to the shops.”

Ferguson Plarre Bakehouses estimates around 150 million hot cross buns will be consumed by Australians this Easter, while chocolate sales are expected to exceed $200 million.

Fish markets and co-ops will also be preparing for crowds in the days before Good Friday, with many Australians upholding the tradition of giving up meat for the day. Sydney Fish Markets predicts around 55,000 people will walk through its doors on Good Friday, and more than 400 tonnes of seafood will be sold throughout the weekend at the markets, including more than 44 tonnes of prawns.

“Easter is a key sales period for retailers, particularly those in the business of food and groceries, however, stores in other areas are also able to pick up additional sales with targeted offers relevant to Easter.

“We’ve seen innovative retailers grow sales each with the addition of limited edition Easter lines, or non-traditional products, such as chocolate hot cross buns.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s more than $300 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 5,000 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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TOWNSVILLE Enterprise believes the Federal and State Governments need to take more decisive action on job creation in the wake of the mining downturn and the impact on business and confidence caused by job losses at QNI.

Townsville Enterprise Chair Kevin Gill said the region has faced uncertainty for too long.

“Fast, decisive action by the Federal and State Governments, acting in a coordinated way, is needed now,” Mr Gill said.

“Townsville Enterprise, the Chamber of Commerce and Regional Councils have presented projects that with an injection of Government funds, or more supportive policy settings, can have a direct impact on employment, build confidence and set the foundation for long term economic growth.

“These projects are not new and Governments are well aware of their benefits to the region as job generators.

“The wheels are starting to turn with a clear recognition from Governments that the region is hurting, but it’s vital that the speed dial for action is turned right up.

“If the Governments are serious about the Northern Australia Development Agenda, they will act now to keep jobs in the region and to retain workers that we are at a real risk of losing, by providing targeted funding for key priorities. It just makes good economic sense to keep people employed in the region rather than needing to attract a workforce back to Townsville North Queensland in the future.”

Townsville Enterprise outlined projects that Governments could support right now.

State Government

• Announce an immediate boost to funding for the Integrated Stadium and Entertainment Centre ($100m already committed to a $380m project)
• Expedite the mining lease for the Adani Carmichael Coal Mine and Rail project to start activity in the Galilee Basin
• Fast track the Ergon/Energex merger and relocation to Townsville
• Boost edutourism funding to take advantage of the development of a new export opportunity
• Support the development of PNG and Auckland flights to boost tourism, trade and commerce
• Fund the business case for the Townsville Eastern Access Rail Corridor

Federal Government

• Match funding with the State Government to complete the $380m Integrated Stadium and Entertainment Centre
• Base the headquarters of the $5billion Northern Australia Infrastructure Facility in Townsville – the business centre of Northern Australia.
• Fund road and rail projects to improve supply chains for agribusiness, cattle and mining industries.
• Announce that the  Cooperative Research Centre for Developing Northern Australia will be headquartered in TownsvilleAward funding from the $25m National Water Infrastructure Fund to Townsville Enterprise for feasibility studies into raising the Burdekin Dam and the new dam at Hells Gate.

“We acknowledge the efforts of the State Government through the Accelerated Works Program and today’s announcement of the $25M commitment to the Mount Isa to Townsville upgrade.

"We also acknowledge the Federal Government’s commitment of an additional $1.9m to the Structural Adjustment Program, however, these efforts need to be turbocharged if they are going to make a real difference,” Mr Gill said.

Corporate website   |   Destination website   |   Convention Bureau website

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As the inquiry into the role of transport connectivity on stimulating development and economic activity moves to Melbourne on Friday, a key focus will be on how investments in transport assets could be offset by the increase in property value along transport corridors.

Chair of the House of Representatives Infrastructure, Transport and Cities Committee, Mr John Alexander MP, emphasised that transport connectivity was not an end in itself—it was a means of achieving urban renewal and regional development.

“Transport connectivity makes our cities more liveable and our regions more accessible, while also increasing the value of the property along transport corridors and adjacent to transport assets, such as rail and bus stations,” Mr Alexander said.

"Value Capture is about using some of that increased value to pay for the infrastructure that created it, with even modest gains in property value potentially creating a significant funding base. This could be utilised to build transport infrastructure projects from small light rail services to interstate high speed rail connectivity.”

In its submission, the international consulting firm ARUP highlighted the importance of integrated land-use and transport planning. It noted that value capture is predicated on relatively high property prices and the potential for property value uplift. Likewise access to new infrastructure adds value to property appeal and hence property prices.

Hearing details

Date: Friday, 11 March 2016
Time: 9:00 am–4:00 pm

Witnesses:

• Strategic Intelligence Group (Submission 30)
• ARUP (Submission 42)
• Peri Urban Group of Rural Councils (Submission 58)
• Committee for Geelong (Submission 32)
• Hon Tim Fischer AC (Submission 52)
• Mr Peter Knight (Submission 48)
• City of Port Phillip (Submission 29)
• City of Melbourne (Submission 62)

Venue: Committee Room G.6, Parliamentary Annex, 55 St Andrews Place, South Melbourne, Parliament of Victoria
The public hearing will be webcast live at http://www.aph.gov.au/live

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WHERE businesses have a high demand for skilled labour but are constrained by lack of resources, then there is a prima facie case for government intervention, according to the Institute of Public Accountants (IPA).

 “We need governments, both Federal and State to immediately address and reform the education system’s ability to increase the stock of knowledge-based workers available for employment,” said IPA’s chief executive officer, Andrew Conway.

“Without a sweeping reform of the education system, Australia will not address the significant skills deficits that are abundantly apparent in the economy.

“We believe that the strongest argument for government intervention relates to the potential for positive spill-over into the wider economy, as highly skilled workers move around employers and disseminate their knowledge.

“One in six businesses in Australia faces a problem involving skills deficiencies.

“Research conducted for the Australian Small Business White Paper indicates that some 64,000 businesses have an identifiable skills deficiency in relation to finance professionals, 55,000 in relation to marketing professionals, and 45,000 businesses are deficient in IT professionals.

“This indicates that while there may be trade skill shortages relating to the construction boom, there is a bigger problem on the horizon with deficiencies in high value added professional services.

“To stem the tide of skills shortages, we are urging governments to consider the inclusion of enterprise training at all levels of the education system from early school years to further and higher education institutions.

"We also recommend the integration of entrepreneurship programs and STEM (science, technology, engineering and maths) subjects, at all levels of secondary school, together with appropriate levels of promotion and financial support," said Mr Conway.

 For further discussion refer to the IPA’s pre-Budget submission 2016-17 on the IPA website at http://bit.ly/1PVGJX7

About the Institute of Public Accountants

The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies.  In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than with more than 35,000 members and students in over 65 countries.  The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.  The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.  

publicaccountants.org.au

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Innovation and Science Australia chair Bill Ferris AC has told Australia’s university leaders that increasing collaboration for commercialisation of research is both desirable and achievable.

Addressing the Universities Australia’s 2016 Higher Education Conference Mr Ferris said, “Right now, despite a host of recent indicators praising our scientific and creative abilities, we are dead last in the OECD rankings of academia and business collaboration for innovation.

“Our alarming collaboration ranking is a direct contributor to our poor performance at commercialising our discoveries and this cannot continue. The good news is improving collaboration between research and industry is the low hanging fruit for quick wins when it comes to driving innovation.”

Mr Ferris said the Government’s announced changes to criteria for the allocation of research funding to universities are needed to reward engagement with industry.

“New arrangements recommended by Dr Ian Watt and taken up under the Government’s National Innovation and Science Agenda would simplify research block grants into two streams and seek to give universities an incentive to achieve greater industry and other end-user engagement, in addition to providing grants on the basis of traditional tests of research excellence,” Mr Ferris said.

“At the same time, I understand we need to continue to excel in fundamental research, I don’t accept that research excellence and clever commercialisation are mutually exclusive.

“Improving the research funding mix is welcome because it will encourage more and more researchers to reach out.

“In the same vein businesses can be encouraged to reach in to universities. I am working with Dr Alan Finkel, Australia’s Chief Scientist, and John Fraser, Secretary of the Treasury, on a review of the R&D Tax Incentive Programme.

“That Review is considering options to better reward businesses that engage with universities and other publicly funded research organisations.”

www.industry.gov.au

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The Victorian Chamber of Commerce and Industry Chief Executive Mark Stone: has commended the Victorian Government and Opposition on finally reaching agreement regarding the Port of Melbourne lease legislation.

"Given the importance of this legislation and the fact that both major parties have been supportive of moving this project forward for two years, this is a timely outcome and one that will benefit all Victorians," Mr Stone said.

"The lease of the port will have a significant impact on Victoria’s economic future. The estimated $6 billion to be generated is essential to progress our state’s infrastructure priorities. These projects are vital to the competitiveness and livability of our state, now and in years to come.

"A notable part of the agreement is the benefit it will provide to Victoria’s regions through the commitment of $700 million in port lease proceeds to support regional Victoria," he said.

"Growing Victoria’s regions through infrastructure improvements will support regional trade and investment. This is a key priority of the Victorian Chamber, as reinforced in our Victoria Summit 2015 – Regional Victoria and 2016-17 State Budget submission.

"The port will continue to be a significant piece of infrastructure to Victoria as container throughput is expected to more than double to nearly six million units per annum in the next 15 years.

"Moving forward the Victorian Government must get the best possible price for the port while ensuring there are sensible safeguards for business," Mr Stone said.

"This project has been a long standing priority for the Victorian Chamber, including as a key recommendation in our 2014 state election agenda, Taking Care of Business."

The Victorian Chamber of Commerce and Industry, established in 1851, is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

victorianchamber.com.au

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THE Victorian Chamber of Commerce and Industry Chief Executive Mark Stone met with the Treasurer of Victoria, Tim Pallas, yesterday to put forward  seven key proposals for the 2016-17 State Budget.

“The Treasurer and I had a productive meeting to talk in detail about each of our seven recommendations and the benefit they would bring to Victorian business and the broader community,” said Mr Stone.

“I commend the Treasurer on his willingness to engage with us on our priorities for a pro-business budget that will address the many major challenges facing Victoria. Our recommendations will reduce business costs, deliver infrastructure improvements, build workforce skills and boost international engagement to strengthen Victorian competitiveness through 2016 and beyond.”

The Victorian Chamber will continue to advocate the priorities for Victorian business in the lead up to the release of the budget on 3 May 2016.

Visit the Victorian Chamber website for further details of our budget submission. 

The Victorian Chamber of Commerce and Industry, established in 1851, is the most influential business organisation in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

victorianchamber.com.au

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