Analysing Labour’s Impending Policy Impacts on the Australian Economy
As the Labour government embarks on its next three years, expect significant economic ramifications that will affect consumer finances across various sectors. The intersection of housing, vehicle regulations, energy policies, and immigration strategies appears set to exacerbate existing challenges and introduce new burdens for Australian citizens.
1. Escalation in Residential Property Values
Labour’s forthcoming implementation of a tax on unrealised capital gains is positioned as a measure targeting wealth accumulation. However, the repercussions for the average Australian, particularly first-time homebuyers, may be profound. This proposed tax on “paper profits” within superannuation accounts could compel retirees to liquidate their superannuation assets and redirect funds into residential properties to mitigate tax liabilities.
The Australian Financial Review estimates that this maneuver could introduce approximately $155 billion into an already overly constrained housing market, exacerbating demand without a proportional supply increase. Such conditions are likely to further inflate housing prices, perpetuating a trend that increasingly hinders homeownership for younger demographics.
2. Increased Costs for Automobiles
Labour’s introduction of a “vehicle efficiency standard” is an indirect taxation mechanism on conventional vehicles, particularly affecting families, tradespeople, and small enterprises outside urban centres. Effective July 1, vehicles failing to adhere to the new emissions standards will incur hefty penalties.
To illustrate, the cost of a Toyota RAV4 could increase by $9,700, while a Ford Ranger may see an uptick of $14,400. This taxation is not limited to luxury vehicles but also to essential utility models. For individuals reliant on traditional combustion vehicles due to geographical and logistical reasons, this policy poses a significant economic strain, particularly given that electric vehicles (EVs) remain impractical and financially prohibitive for many.
3. Rising Energy Expenditures
Contrary to Labour’s promise of lower energy costs, the anticipated hike in utility bills seems inevitable. The administration’s heavy reliance on renewable energy sources—specifically wind and solar—has overlooked essential grid reliability and cost-effectiveness considerations.
The projected expenditure for a renewables-dominant grid is estimated at $332 billion, nearly double that of a diversified grid model incorporating nuclear power. This transition poses risks of blackouts and price volatility and reflects a broader misalignment of economic strategy. The cumulative effect has been a 60% increase in real electricity costs over the last decade, translating to an additional $3,400 annual expenses for the average household.
4. Continued Surge in Immigration
Despite Labour’s assertions of a planned reduction in migration rates, the reality is a staggering influx of nearly 1 million new arrivals within two years. This demographic surge is not merely an influx of individuals but a systemic challenge that strains infrastructure and public services.
The outcome is palpable: escalating rents, rising property values, congested transportation networks, and overburdened healthcare facilities. The policy caters to corporate interests and educational institutions while leaving the broader population grappling with the consequences. The government’s inability to effectively manage this influx raises questions about future efficacy.
Conclusion
Labour’s current trajectory suggests an unequivocal relationship between its policies and rising costs for Australian citizens:
– Continued escalation in housing prices – Increased expenditures on automotive purchases – Rising energy bills
The forthcoming years will undoubtedly challenge Australians’ economic resilience. However, it is essential to recognise that adverse policy outcomes are not inevitable but the product of deliberate choices that can be re-evaluated. An urgent call to action may catalyse a shift towards more sustainable and equitable fiscal strategies.
I broke the glass ceiling in the early days as the State Manager of Wards International, unheard of as a female in international logistics, and in my twenties. After I went back to the most excellent corporation based on abject sexual harassment way beyond absolute tolerable means!! And fought that!
So, whilst I have proven I can look after myself, I can look after those I cherish. I cherish being Australian, including the Australian ETHOS that was once held by all fellow Australians, old and new.
During that time, there were no profanities or bloke talk from my part, not until two years ago when standard scripting fell on deaf ears and closed eyes and sheer frustration set in as our nation went into decline! Our identity defused and our culture usurped.
I grew up with a WW2 father who was a Squadron leader who ingrained in me that an Australian, a genuine Australian, defends their nation and their people, and no Australian leaves a mate down or a mate behind.
That no longer prevails, with the exception of those Aussies brought up similarly.
We have reached those times when the government, elected by 34% has zero regard for Australians to the extent that the hardship of the fallen is manufactured, orchestrated by a man who holds an ASIO file as a communist person of interest.
Look at the track record of communist leaders. Did their people thrive? Ze Dong, Stalin, etc.
Would my father and other proud fighting Australian men, particularly those like my Uncle, a Rat of Tobruk, or those as history now records as men fighting in the most challenging terrain in the history of world warfare, those brave Australian men fighting in Papua New Guinea during WW2?
Would they fight to have a communist leader installed as Prime Minister of Australia? Would they fight towards the Islamification of Australia, the usurping of the Australians, old and new? Clearly, NO! Would they fight to LEAVE A MAN DOWN, let alone children?
OR: WOULD THEY FIGHT towards the devastation of the economic underpinning of our economy?
The loss of a nation founded on Christian values and Christian laws?
I make no apologies for my very distasteful, rude comments, but facts need to be brought home in the very harshest of terms, because folks, Mrs Nice Guy, previously got me nowhere, and this fight cannot be won by Mr and Mrs Nice Guys!
We have played the very British stiff upper lip to the Marquess of Queensbury Rules that govern the sport of boxing, as wearing GLOVES!
The bloody GLOVES are off, and I am in for a bare-knuckle fight. If that takes in derogatory terms, then bloody be it!
Either join the fight or go hide under the bed like the REDS?
You have been wonderfully shaped by both the good and the challenging experiences in your life! Remember, you’re not a prisoner of your past—you’re free to create a bright and beautiful future! Embrace the journey ahead with joy and excitement!
That’s what Christianity is all about.
Discover a transformative journey through Jesus Christ, where you can embrace the opportunity to be born anew and embark on a vibrant new life.
With Jesus, you have the incredible opportunity to hit the reset button and embrace a new start. It’s never too late for a second chance!
Here’s what God says about your past:
“Let go of past events and free your mind from yesterday’s thoughts. Embrace the present and all the possibilities it holds!”
Look at the new thing I am going to do.
It’s already unfolding right before our eyes.
Don’t you see it?
” Isaiah 43:18-19 God doesn’t want you constantly looking at the past.
You’re bound to run into trouble if you’re constantly glancing in the rearview mirror! Focus on the road ahead, and steer toward your future with confidence!
The key to moving forward is embracing the present and eagerly anticipating the future. Focus on today’s opportunities, and let your dreams for tomorrow inspire your journey!
The journey ahead of you holds endless possibilities, while the past has already played its part. Embrace the future—it’s where your next adventure lies!
Let go of what has been; the past is behind you now. Embrace the journey ahead!
You can’t change it, so don’t dwell on it.
Instead, start asking God to do something new in you.
You might be feeling like your life has hit a bit of a standstill, as if new adventures and experiences are just out of reach.
Can you guess the reason behind it?
It seems you’re holding back from asking!
James 4:2 reminds us, “You miss out on what you desire simply because you forget to ask God for it” (NLT). It’s a powerful nudge to reach out with our hopes and needs. Don’t hold back—express what’s on your heart!
Look at that statement: You’re missing out simply because you’re not asking for it!
If you haven’t asked God for a fresh start, I need a new beginning.”
I’ve blown it.
I’ve made mistakes, and I need you to reboot my life.”
This is the crucial first step towards a powerful transformation!
You just have to ask God for it!
Everyone needs a reset because life is hard, and we all make mistakes.
Are you ready for God to do something new in your life?
Ask him for a fresh start; he’ll shower you with vibrant energy, lift your spirits high, and fill your heart with a joyful sense of renewal!
The ACCC today welcomed the introduction of the Treasury Laws Amendment (Mergers and Acquisitions Reform) Bill 2024 into the Australian Parliament, which if passed through the Parliament will provide the ACCC with fit for purpose tools targeted at identifying and preventing anti-competitive mergers.
“This marks a significant milestone in the process of reforming Australia’s merger laws,” ACCC Chair Gina Cass-Gottlieb said.
If passed by the Parliament, the new legislation will represent a major change for the ACCC, business and the Australian community. In anticipation of the new legislation coming into effect, the ACCC has today issued a statement of goals to outline its approach to implementing the new regime and to reduce uncertainty during the transition.
“The ACCC is committed to the successful implementation of these reforms, if passed by parliament, to ensure that transactions that may adversely affect competition are subject to adequate scrutiny based on the risks raised, and to provide a more efficient and transparent process for businesses and for the wider community,” Ms Cass-Gottlieb said.
This contrasts with the current situation, where only a tiny proportion of the estimated 1,000 – 1,500 mergers that occur each year are notified to the ACCC and around 93 percent of those that are voluntarily notified are assessed confidentially.
“Part of making these reforms a success will be ensuring businesses have clarity on their obligations, the timeframes they can expect, and other key aspects of the process,” Ms Cass-Gottlieb said.
“Our statement of goals is the first step in signalling how we will implement these reforms and outlines what merger parties and stakeholders, including customers and suppliers to merger parties, should expect.”
The new system will provide for greater transparency of the mergers the ACCC is reviewing and the reasons on which decisions are based. This will enable the wider community, including consumers and small businesses, to comment on mergers relevant to them.
It will also result in a more efficient and faster process and more certain timelines for businesses seeking clearance, with new obligations on the ACCC to complete decisions within legislated timeframes.
The ACCC expects about 80 per cent of mergers will be cleared within 15 to 20 business days.
Under the new regime, the ACCC will enhance its economic and data analysis to further drive and inform its decision making.
“The ACCC will take a risk-based approach, with resources prioritised to acquisitions more likely to harm the community,” Ms Cass-Gottlieb said.
Subject to the passage of the legislation, the new regime will come into effect from 1 January 2026 but will also allow for merger parties to start using the new merger regime on a voluntary basis from 1 July 2025.
The ACCC will consult on and publish guidelines on the transition period to ensure stakeholders are well informed about the options available to them during this period and have open channels available for merger parties to seek guidance.
The ACCC has also previously announced it will renew and expand its Performance Consultative Committee to advise on the ACCC’s merger review functions as well as the broad range of the ACCC’s responsibilities.
The committee will consist of a range of stakeholders including consumer, business, and legal representatives.
Background:
Reforms to Australia’s existing merger laws were announced by the Treasurer in April 2024. The Treasurer’s announcement was welcomed by the ACCC.
The ACCC first released proposed merger reforms at the Law Council in 2021. ACCC Chair Gina Cass-Gottlieb commenced her term in 2022 and has continued to advocate for merger reform including at the National Press Club in April 2023.
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ACTU president Michele O’Neil is calling on the government to reform a temporary working visa scheme that prevents workers leaving bad bosses and to blacklist dodgy employers who use migration worker exploitation as a business model.
“It is posing a modern day slavery risk,” O’Neil told the ABC.
“Mobility for Pacific Australia Labour Mobility (PALM) visa workers will mean they can move to another approved employer if they need to leave an unscrupulous employer, treating them as disposable labour, and cases where workers face violence or harassment,” she said.
“This will mean employers can no longer treat PALM workers effectively as bonded labourers who can’t change where they work if they want to.”
She has a strong case. Worker exploitation is happening in plain sight across Australia, and while there have been some reforms over the past few years, the PALM scheme is the last of the temporary visa programs where workers are tied, or bonded, to their employer, the sponsor.
It means when things go wrong, such as underpayment, excessive accommodation fees, or other forms of abuse or exploitation, workers don’t have the right to change employers.
If they do leave, they automatically lose their rights, and are labelled absconders or disengaged workers of the scheme.
Thousands of workers are disengaged from the scheme, leaving local communities, social support providers, charities, and unions to pick up the pieces.
Investigations underway
O’Neil’s calls for reform are being echoed by charities, councils, state politicians, community workers, and the NSW Anti Slavery Commissioner James Cockayne, whose office recently published a report that found evidence of debt bondage, forced labor, servitude and deceptive recruiting, and human trafficking.
Against this backdrop, a delegation of Fijian officials will arrive in Australia this week to investigate the PALM scheme after 24-year-old Fijian Christine Lewailagi, a worker on the scheme, died in June and her family and friends raised allegations of racism, bullying and exploitation.
@acenewsservices
The delegation, including the Fijian Minister for Employment Agni Deo Singh, will visit labour exploitation hotspots and meet the Minister for Employment and Workplace Relations Murray Watt, whose department oversees the scheme.
The PALM scheme was set up to fill labour shortages in agriculture, horticulture and meat processing.
For the most part it has been successful, except when unscrupulous employers exploit weaknesses in the legislation.
Exploited workers in limbo
O’Neil said despite the positive reforms this government has made to strengthen regulation in PALM, including the introduction of a minimum net pay guarantee after deductions, pay parity with workers in the same workplace and increased penalties for employers who exploit temporary migrants, more needed to be done as unscrupulous employers were still exploiting workers.
“As well as mobility rights, allowing workers to change employers, PALM workers should have access to Medicare; better regulations around their labour hire; and access to the Fair Entitlements Guarantee which offers further protections for temporary migrant workers,” she said.
Ezekiel is one of those exploited workers. Now aged 28, he came to Australia from Papua New Guinea two years ago on a PALM scheme by an approved labour hire firm that is being investigated by the Fair Work Ombudsman for abuse and mistreatment of workers.
He left his employer — and therefore the scheme — because he was being paid $200 a week, which wasn’t enough to look after himself and send money to his mother who is looking after his children after his wife died. Ezekiel is from the PNG Highlands, which is currently embroiled in guerilla warfare. His mother was forced to flee the village after his father and two brothers were killed.
He is currently on a 90-day Support to Trafficked People Program, funded by the federal government, but the clock is running down as he waits to find out if he can get a protection visa, given the risks he will face if he returns to PNG.
“If I go back to Papua New Guinea my enemies can kill me and also my kids,” Ezekiel, who is currently living in a hostel in Griffith, told the ABC. “I need to work here in Australia and support my kids and family at home.”
And while the ombudsman is investigating the company that exploited him and many other workers, it has phoenixed, which is a clarion call that more needs to be done in this area.
‘Workers don’t run away from good employers’
O’Neil suggests blacklisting bad employers. “It’s as simple as that,” she said.
She said becoming an approved employer should include the department gathering information to verify ethical behaviour with other bodies, including unions and civil society organisations. She said the Department of Home Affairs should also publish data regarding the number of PALM workers, their employer, their rates of pay, locations, industries and occupations.
Moe Turaga, a Fijian survivor advocate, said there are currently between 300 and 400 disengaged Fijian workers roaming the streets of Sydney, looking for cash jobs, after running away from their employer. They are disempowered and desperate, Turaga said, undocumented and homeless, with no checks and balances.
“Workers don’t run away from good employers,” he said.
Turaga said he has spoken to over 100 workers in small groups in the past three months. “They have travelled from all over the country because Sydney seems to offer a safe haven,” he said.
He said in the early part of this year, six Fijian workers died in the scheme.
Most businesses do the right thing, Turaga said, but some don’t — and they expect to pay workers $200 a week, after deducting rent, travel and repayment of visas, “which is not okay”.
“The states say it is a federal program, but they are living in the states and they are benefiting the economy, supporting the towns,” he said.
It is why there needs to be buy-in from the states and federal governments.
Anti-slavery bodies need more powers
Ken Dachi, a community worker and multicultural affairs adviser at Leeton Shire Council in the Riverina, NSW, says a Mayoral Alliance for the Pacific, co-founded by Leeton Shire Council and Welcoming Australia, aims to advance reforms to ensure the scheme provides safeguards to workers as well as benefit employers.
“We reached out to 111 councils, largely in New South Wales, Victoria and Queensland and councils continue to join as alliance members,” he said.
There will be a round table meeting between members of the alliance and politicians next month.
“It’s critical that the government brings in the guarantee of 30 hours a week, every week for PALM workers,” O’Neil said.
“If they are making the commitment to uproot their lives and come to Australia, they must be assured that they will receive enough hours of work to support themselves and their families.”
Community worker and multicultural affairs adviser at Leeton Shire Council, Ken Dachi. (ABC News)normal
There also needs to be greater powers for the Commonwealth Anti Slavery Commissioner, a position that is yet to be filled despite the Albanese government in May announcing its establishment with fanfare.
“We need a Commonwealth Anti-Slavery Commissioner with investigative powers and sufficient resources to give independent oversight to PALM and other temporary migration programs to detect modern slavery and make recommendations for reform in order to help eradicate modern slavery from the supply chains of Australian businesses,” O’Neil said.
In NSW, the Office of the Anti Slavery Commissioner recently published a report that found practices such as debt bondage, forced labour, servitude, deceptive recruiting and human trafficking were rife in agriculture, horticulture and meat processing industries in NSW.
The Modern Slavery Act gives the NSW office no formal investigative powers.
In the words of survivor Moe Turaga, the system needs to change — and fast.
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Consultation on the new draft South-east Marine Parks Network management plan will be open until November 14.
The federal government is moving to boost protections for marine life in Australia’s south-east oceans with new restrictions on oil and gas projects and fishing.
Draft updates to the South-east Marine Parks Network management plan, set to be released publicly tomorrow, reveal government intentions to ban new oil and gas titles in 14 marine parks and double the size of “sanctuary zones” in ocean off Victoria, South Australia and Tasmania.
If approved, it would be the first time offshore oil and gas exploration and drilling, including seismic testing, and seabed mining is banned in these areas, but existing licences would not be affected.
Little penguins live in oceans off south-east Australia. (Supplied: Phillip Island Nature Parks)normal
The Australian Marine Conservation Society (AMCS) areas manager Adele Pedder said the proposed changes were a win for marine life, including blue whales, orcas, little penguins, dolphins and kelp forests.
“The vast majority of marine life in Australia’s south-eastern waters are found nowhere else on Earth,” she said.
“If we lose them here, they’re gone from the planet forever.”
New protections
Sanctuary zones are areas located within marine parks which are given greater protections.
The government’s proposal to more than double the area of marine sanctuaries would establish 11 new areas where fishing is banned, known as no-take zones, in 10 marine parks.
However, the ABC understands the plan also proposes to open some currently protected areas to some commercial fishing activities, described as “low impact” and “sustainable”.
Ms Pedder said she was concerned for the future of important marine species in these areas, including the impact on commercial fish stocks, and she urged the government to rethink this change.
“In a time when our oceans are under more pressure than ever before we should not be winding back any protections, we should only be expanding protection,” she said.
“The south-east is Australia’s most exploited marine region, with most still falling outside the marine park network and exposed to impacts from oil and gas exploration and drilling, seismic blasting, industrial fishing and waters that are warming three to four times faster than the global average.”
Federal Environment and Water Minister Tanya Plibersek said the government was doing everything it could to protect the South-east Marine Park Network.
Tanya Plibersek says Australia protects more ocean than any other country. (ABC News: Billy Cooper)normal
She described the ocean area as “a jewel” of the country’s natural heritage.
Consultation on the South-east Marine Parks Network management plan opens on October 11 and closes on November 14.
The current management plan expired on June 30.
The new plan will guide management of the ocean network for the next 10 years.
At Sterling Publishing & Media Service Agency, we value transparency and accountability. We want to inform you that we are not responsible for any external content, links, or posts. Nonetheless, we are dedicated to providing exceptional services and sincerely appreciate your support. Thank you.
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