World Free Zones Organization | Latest News

13 September 2022.

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WA agricultural sector ‘strangled’ by regulatory burden: Institute of Public Affairs

Red and green tape is “strangling” WA’s farming future, with the State’s environmental bureaucracy more than quadrupling since the year 2000 while employment in agriculture has declined by one-third. Mr Wild said despite pledges from successive State and Federal governments to relieve farmers of burdensome regulation, the evidence was clear red and green tape — and the bureaucrats that administered it — continued to increase. For context, he said the number of people employed in environmental departments and agencies nationwide — the “green tape army” — was now 20 per cent greater than the number of soldiers serving in Australia’s “regular army”. “There are now a staggering 34,600 people employed by environmental bureaucracies around Australia; Australia’s actual army is just over 29,000,” Mr Wild said.“The size of that green tape army has more than doubled since 2000, but our actual army has increased by a fifth.”

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World Free Zones Organization | Latest News

6 September 2022.

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Tax cuts vital for our return to prosperity

Overall, income tax cuts create faster economic growth, which creates a bigger base for government revenue. This helps offset the direct initial revenue lost from the tax cuts. This is why tax cuts drive not just a healthier hip pocket for workers, but enhances community wellbeing and living standards across the board. Punishing the long-suffering taxpayer of Australia with even higher taxes will not reduce debt. Higher taxes means slower economic growth, which means a smaller economic base for the government to tax, leading to less revenue over the long term.No nation has ever taxed its way to prosperity and no nation has ever taxed its way out of debt.

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Jobs and Skills Summit: Seniors will be able to work extra hours without losing pension entitlements

Prime Minister Anthony Albanese wrapped up the two-day event in Canberra by announcing the anticipated change to the pension — a policy WA billionaire Gina Rinehart campaigned for ahead of the Federal election. Ms Rinehart said the new measure could have gone further, and the paperwork pensioners need to undertake, along with other restrictions would just deter pensioners from working.

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Japan, Korea say Australian gas exports critical

“The Japanese government has been asking the Australian government to implement any measure in such a way that it does not impact Japan’s supply of LNG from Australia, and the Japanese government will continue doing so,” a Japanese government official told The Australian Financial Review. He also said Korea was focused on securing more urgent supplies of critical minerals. “The sense of vulnerability they have because of china’s dominance of that market is enormous.” Senex Energy, a subsidiary of Korean steelmaker Posco and Gina Rinehart’s Hancock Resources, earlier this month announced plans for a $1 billion coal seam gas expansion in Queensland. Government and Japanese trading house sources in Tokyo said there was also a huge appetite by Japanese companies to invest in the Australian energy sector, particularly now that political risk meant China and Russia were being ruled out for new investments.

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No competition: we’re less dynamic

Australians are less likely to start companies or switch jobs than in the past, reflecting a drop in economic dynamism over the past decade that has underpinned the nation’s worst productivity performance in history. The increasing concentration of power among a dwindling number of big firms in key industries – “from banks, to beer, to baby food” – has also robbed the economy of vitality, Competition Minister Andrew Leigh told The Australian.“It constrains the ability of the budget to build infrastructure and help poor people here and overseas. Whether your priority is paying down debt or boosting teacher quality, you should be worried about the drop in productivity,” he will say.

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World Free Zones Organization | Latest News

25 August 2022.

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World Free Zones Organization | Latest News

22 August 2022.

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Red tape threat to miners, agriculture in draft bill

Mines, gas projects, farms and other industries in Australia’s second-biggest resources market and third-biggest agriculture sector could be shut down by a bureaucrat’s decision, under secret legislation drafted by the Queensland Environment Department. Several high-level sources said the draft bill as circulated would give a bureaucrat, likely the Environment Department’s director-­general, the power to wind back retrospectively existing environmental approvals, licences, and permits to slash production ­capacity.An industry source said: “It’s frankly outrageous. It would give power to a bureaucrat to unilaterally and retrospectively close businesses. It’s sovereign risk of the highest order.”

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