Currently, only 3 per cent of pensioners work in Australia, compared to 25 per cent in New Zealand. This is not because pensioners in Australia do not want to work. Research has shown that around one in five want to work, but do not, because of unfair tax and red tape barriers.The solution is to follow New Zealand’s approach by removing all red tape on pensioners, students, and veterans. This would mean that these Australians could earn as much income as they would want, without losing their pension payments or welfare benefits. Of course, they would still pay income tax like every other Australian worker. Removing all red-tape and barriers for Australian pensioners, veterans, and students to get back into the workforce, without suffering significant financial penalties, is a simple and effective policy measure that is good for them and good for our nation. More Australians working means higher government revenue through income tax, GST, and payroll tax, which can be reinvested into infrastructure and used to pay down our debt.
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‘Intervention’ risks boom
“At a time when we need more investment to unlock the nation’s vast critical minerals potential, Australia’s investment environment is deteriorating at speed. You cannot keep throwing punches at Australian businesses and expect to maintain the same level of economic growth and job creation,” Ms Constable said in an opinion piece ahead of an appearance at Seven West Media’s Resources Technology Showcase.
Read moreBoom is ‘not our birthright’
This new mining boom is not our birthright. A steady stream of excessive interventions by governments have put Australia’s chances of reaping an incredible, long-lasting dividend from this new mining boom at genuine risk. These include heavy-handed industrial relations laws that impinge on productivity and threaten jobs. There is a genuine risk of Australia’s critical minerals remaining in the ground, as companies and investors prioritise foreign resources developments where costs are lower, policy settings more stable, and returns are higher. We need to seize the opportunity and not squander it. Because when Australian mining does well, Australians do well.
Read moreFIKILE MAJOLA: New approach to development of special economic zones
The literature is replete with case studies that illuminate how special economic zones (SEZs) have been instrumental in catalysing industrial development. It also holds great appeal in a country’s quest to crowd-in private sector investment through both domestic and foreign direct investment flows. SEZs have become an important policy tool of choice for governments seeking to accelerate industrialisation, development and growth.
Read moreGina Rinehart on work, loyalty and 30 years in mining
Australia’s richest person has provided a rare insight into her initial struggles, motivations and ambitions after celebrating 30 years at the helm of what is now the country’s biggest private company.
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