Archives - Andev Project

Red tape the problem rather than monopoly

Rather, what one should be looking for are explanatory factors which are themselves economy-wide. In reality, one doesn’t need to look far, for the past decade has seen a tsunami of regulation – from climate change to directors’ liability – that has increased the risk involved in investing and pushed up required profit margins and rates of return. And by the way, those regulations also make it harder for new firms to enter and expand, giving some substance to Treasury’s story.
We are, in other words, in the midst of a battle between an innovation process that is yielding enormous consumer benefits and a regulatory explosion that threatens those benefits. Once upon a time, Treasury would have been more alert to that clash and its dangers than anyone. Its analysis might have been technically less sophisticated than this paper is, but it would have focused on the real problems – and provided better guidance to policymakers.

Iron ore demand driving Australian resources exports to new highs

Minister for Resources, Water and Northern Australia Keith Pitt said as the world recovers from the global COVID-19 pandemic, record iron ore prices have driven a surge in export earnings, while metallurgical coal exports are also benefiting from a surge in world steel production. “These incredible results underline the importance of Australia’s resources sector to the national economy and international markets throughout the COVID-19 downturn.”

Brickworks slams IMF carbon tax

“(Australian governments) are into the rule book to try and find out how they can stop you doing what you want to do, or try and delay you, whereas in America, representatives of the governor will come and see you and ask you how they can help,” he explained.
“We need to be prepared to relax the regulations so companies can function. It’s just too onerous at the moment, and very difficult for companies to invest in Australia,” he added.

Approvals reform can protect natural assets & boost economy

The Minerals Council of Australia estimates that the EPBC process can cost companies developing greenfield resource projects up to $47 million every month. Professor Samuel recommended the job-destroying duplication should be addressed by improving, strengthening, and streamlining the capacity of the Federal Government to delegate approval functions to State governments.
It’s time to get on with reforms to better protect natural assets and deliver a needed boost for our economy.

McGowan backs PM over red tape Bills

Mr McGowan said his government had called for proposed changes 18 months ago.
“We support this legislation and WA continues to work with the Commonwealth to progress a bilateral agreement for approvals which will maintain environmental standards and reduce red tape,” he said.
“Since (originally calling for the changes) the State has been implementing initiatives to remove red tape while retaining the highest environmental standards for all applicants.”

Australia’s Competitiveness Levels Are The Lowest In 25 Years: CEDA

Despite the Australian economy responding positively to the COVID-19 pandemic and experiencing a V-shaped recovery, the report suggests that there is an urgency to rebuild economic competitiveness through increasing digitisation and reducing tax burdens.

Unilever to invest $175.4 mln in Indonesian special economic zone

The fast-moving consumer goods giant plans to expand its oleochemical factory, which can hire 600 new workers directly and potentially create 6,000 new jobs “indirectly”, Arif Hudaya, finance director at PT Unilever Indonesia, said in a statement.

Preferential Zones and Investment Hubs in China’s Greater Bay Area

The GBA Outline Development Plan emphasizes the need to continue to build a first-class business environment which is stable, fair, transparent, and predictable. The challenge is not only to encourage advancements to the business environment, but also to coordinate these efforts between three different legal systems, economic structures, and currencies.

Townsville Enterprise calls for cut in red tape for mining

“It’s important we work together with government and industry to ensure that we have a true partnership in terms of cutting red tape, finding investment opportunities in common user infrastructure and making sure the supply chain is ready for those junior miners coming through.

Infrastructure project delays risk derailing economic growth

“The drought, the bushfires, the extreme weather events have really highlighted the importance of taking those shocks and stresses into our decision making right at the planning phase,” Ms Madew said.

Rural communities bedrock of recovery

The resilience of regional and rural communities is the hallmark of the Australian spirit and the bedrock on which our economic recovery is being built. More than 9.5 million Australians call regional Australia home. And when we look at what has helped drive our bounce back it is the resources sector, the agricultural sector and tourism in regional and rural Australia.

Regions drive broader economy

“If we don’t get it right we’re not going to go anywhere, because regional Australia is actually the engine that drives the broader economy,” he said.