Link to current Newsletter.
Link to current Newsletter.
Policymakers looking to retraining programs and skilled migrants to fill skill shortages as the economy roars back from the pandemic should not overlook a potentially rich source of experienced and often highly skilled workers – retirees. Many retirees would be happy to work for a few extra years, at least part time, to postpone dipping into their superannuation nest eggs, during which time of course they also would be paying income tax. More important, they would be contributing to an economy in which nine in 10 jobseekers unfortunately lack the requisite training needed for the vast majority of available roles, according to new analysis by the federal Department of Education, Skills and Employment.
“If the government exempted work income from the income test for those with limited savings it would boost their income and savings in retirement, and boost the productivity of the nation,” Mr Henschke said. “We will nudge millions of Australians into, not out of, work.” The idea has support from business groups and figures. Mining magnate Gina Rinehart said the change would help ease the nation’s skills crisis. “We are a supporter of the government changing its policy where pension arrangements are concerned, so that pensioners can work should they so choose, without onerous tax resulting from their decision to work,” Ms Rinehart said.
Minister for Resources and Water Keith Pitt said that the resources sector once again has been shown to be the bedrock of the Australian economy and would strongly support the nation’s future growth. “The resources sector has risen above the challenges of the pandemic and will continue to deliver for our nation in the years ahead,” Minister Pitt said. “In 2020–21 our resources and energy earnings passed $300 billion for the first time, reaching $310 billion, and are now forecast to top that by $69 billion in 2021–22. “These are outstanding results that will provide further jobs and opportunities in our regions and benefit all Australians.
A TECHNOLOGY that uses renewable energy-powered electrolysis at low temperature to convert carbon dioxide into reusable carbon and oxygen has been backed by Gina Rinehart’s Hancock Prospecting. Called Carbelec, the technology is being developed by researchers at the University of Melbourne. Those researchers claim the technology could be a game changer for steel makers.
The federal government has relocated four F-35A Joint Strike Fighters to RAAF Base Tindal, southeast of Darwin, putting the nation’s most advanced combat jets on the frontline of Australia’s northern approaches. The fifth-generation multi-role fighters will take over from now-retired F/A-18A/B Classic Hornets, with 16 of the aircraft due to be based at Tindal by December 2023. Defence Minister Peter Dutton said the RAAF’s 75 Squadron would operate the jets from the strategically important location, which has become a defence and US engagement hub. “The Tindal-based F-35As will assure the ADF’s ability to deter or defeat threats to Australia’s interests and strengthen our ability to project potent air power into Australia’s immediate region,” Mr Dutton said.
Australia’s resources and energy exports continue to surge, latest trade data confirmed today, despite the challenges of the past 12 months “The resources and energy sector already provides direct jobs for around 268,000 Australians and support the employment of over a million more. “The growth shown in these earnings across the sector simply means more jobs and more opportunities for Australia,” Minister Pitt said.
Discussion in relation to Gina Rinehart suggested innovations of change to the aged pension system.
“The importance of mining to Australia has never been more evident than during the 2020/21 financial year, a time in which I am immensely proud of Atlas and our people and their contribution to safeguarding the economic prosperity of West Australia and Australia,” Ms Rinehart said. “The mining industries and the businesses they support help to support millions of Australians right across the country. “When mining does well, so does Australia. We just have to remember that Australia exports its ore internationally, so we have to be cost competitive internationally, hence we should be wary of onerous government cost burdens, that don’t encourage investment.
But Mr Littleproud, said the proposal was dangerous and didn’t make sense. He said diesel users who didn’t use public roads should not have to fork out the excise to pay for maintaining them. “Why would you constrain an industry? Why would you take away its competitiveness and effectively take away its jobs? “And while Twiggy might be able to afford it, I don’t know whether every Australian out there that’s employed by some of these other industries can afford it and will want to see their jobs go because we’re not competitive.” Miners and farmers also slammed the proposal, saying it would cost investment and jobs because there is no widely available substitute fuel to power their operations.
“Fuel tax credits exist to fix a serious distortion in the tax system,” Mr Mahar said. “Taxing farmers every time they start their tractor, pump or generator makes no sense. The proposal would apply a road user charge to fuel use that happens off-road in the paddock, on the water or even in hospitals. Agriculture Minister David Littleproud also ridiculed the idea and said the government had “no means in which we’re considering removing the fuel excise rebate.” “Twiggy Forrest is giving plenty of gratuitous advice from the sidelines and he’s been running around the world cashing a lot of Fortescue checks on hydrogen,” Mr Littleproud said.
What a year we’ve all had! And one we should all be immensely proud of our industry’s contribution to Australia. Even the media have noticed our huge contribution throughout COVID. Let’s start with a heartfelt round of applause to everyone in our industry, yep, loud applause, and please don’t stop with just clapping, whistling, feet stomping, flag raising, dancing, cheering all great! And another round of applause please for all the related industries and businesses that the mining industry supports. National Mining & Related Industries Day, rightly deserves to be a very important day on our nation’s calendar.