Month: December 2024 AWST

‘A handful of major employment service providers have failed to adequately support Australians with disabilities in the job market as the federal government hands down its first public report card on the industry. ‘- reported at www.theguardian.com

‘The federal government’s new scorecard, which will be released quarterly, shows the majority were meeting expectations on quality and effectiveness. ‘

From ASIC media release: ‘ASIC today released Consultation paper 381 Updates to INFO 225: Digital Assets: Financial Products and Services (CP 381) outlining proposals to update Information Sheet 225 Crypto Assets (INFO 225).’

The proposed updates include 13 practical examples of how the current financial product definitions apply to digital assets and related products.

From Assistant Treasurer’s media release: ‘The Albanese Government is working with industry and regulators to develop a fit for purpose digital asset regulatory regime, to build a more dynamic and competitive economy.’

‘We welcome the Australian Securities and Investments Commission’s announcement today that it will work with stakeholders to update its advice on digital assets, including cryptocurrency.’

From the ABC: The Spirit of Tasmania IV ferry has arrived at the Port of Leith in Edinburgh after a journey from Finland, where it will be temporarily docked at a cost of $47,534 per week due to infrastructure issues in Tasmania.

The ship, too large to operate in its intended routes, is expected to remain in Scotland until early 2027 when new port facilities will be ready.

From: censusnoreligion.org.au: The Victorian Premier’s own department believes the proposed changes to the Census religion question will have a positive impact in fostering greater inclusion of non-religious people.

As part of phase 2 of the Australia Bureau of Statistics’ (ABS) 2026 Census topic consultation, the Victorian Department of Premier and Cabinet identified the “assumption of religiosity” as a problem in the existing question.

‘Australia has changed its position to support a UN resolution demanding “Israel bring to an end its unlawful presence in the Occupied Palestinian Territory as rapidly as possible”.’ reported at www.abc.net.au

‘The resolution, passed by the UN General Assembly, also calls for an end to all new settlement activities and for settlers to be removed from the occupied territory.’

From Pearls and Irritations: The Australian Productivity Commission’s report A Path to Universal Early Childhood Education and Care’s focus on increased childcare subsidies is overly simplistic.

The author calls for a rethinking of childcare policy, emphasizing targeted subsidies, streamlined support structures, and measures to enhance workforce participation and reduce career penalties for families.

‘Australian private schools, particularly those with the wealthiest students, received $130 million in government funding in 2023, despite already having significant funding from private sources’ – reported at www.theguardian.com.

‘Data reveals significant disparities in funding between public and private institutions, prompting negotiations between federal and state governments.’

From the Federal Treasurer’s media release: ‘Today’s National Accounts confirm that growth in the Australian economy continues to be positive but weak.

Our economy is growing but very slowly, weighed down by interest rates, cost of living pressures and global uncertainty.

The ABC reports: ‘A major renewable energy project in south-east Queensland is $4.2 billion over budget and three years behind schedule.’

‘ a Queensland Hydro report, commissioned before the election has revealed the project will now cost $18.4b and will not be ready until 2033 at the earliest.’

Guardian Essential report: ‘do voters’ views on housing and wages spell trouble for Labor? – Australian Politics podcast’

‘Guardian Australia’s chief political correspondent, Paul Karp, and Essential Media’s executive director, Peter Lewis, discuss the public’s disappointment with Labor’s handling of the housing crisis and what that means for the party in the lead-up to a federal election’

‘The Commonwealth Bank has paused its plans to charge customers a $3 fee to withdraw their own money at bank branches around the country. ‘- reported at www.abc.net.au

‘The bank had been under pressure to scrap the fee altogether from both sides of politics, with the federal government describing it as a “terrible decision” that was a “kick in the guts” to customers.’

‘Australian National University surveyed 3,622 people and found only 38% have confidence in the federal government. ‘ – reported by The Guardian

‘ the prime minister, Anthony Albanese , had “significantly higher” favourability than Peter Dutton leading into the 2025 election.’

‘Crypto exchanges and firms dealing with digital assets in Australia would no longer be able to avoid costly licensing under proposed guidance from the country’s corporate regulator.’ – reported at cointelegraph.com

‘On Dec. 4, the Australian Securities and Investment Commission (ASIC) released a consultation paper on proposed guidance for crypto, placing many digital assets under the category of financial products’

‘Commonwealth Bank will start charging customers using one of its popular transaction accounts a $3 fee for accessing money from a branch, drawing an angry response in a period marked by robust bank profits and a cost-of-living crunch’ reports The Guardian.

‘The financial services minister, Stephen Jones, said CBA needed to overturn the planned changes.

From: theshot.net.au: ‘At the risk of pissing everyone off, both the ALP and the Coalition cannot be trusted to govern humanely, intelligently, honestly and competently in their own right. Those days are long past. Parliamentary politics as it stands cannot save us from ourselves.’

Reported at www.themandarin.com.au: ‘A Senate committee says using Australian government funding to support elevated costs as a result of preferential deals with the CFMEU is inappropriate.’

‘The committee report argues that such arrangements drive up construction costs.’

Reported at themandarin.com.au: ‘The Reserve Bank of Australia governor Michele Bullock made some rather surprising remarks at this year’s Australian Securities and Investments Commission annual forum.’

‘Despite the profitable return of the digital currency Bitcoin, currently fetching A$143,240 per coin, Bullock had little time for any assessment that deemed cryptocurrency “an alternative currency”. It is “not a currency, it’s not money, it’s being used as some sort of asset class.” ‘

A 2024 poll sheds light on the persistent anti-Chinese sentiment in Australia, with findings that suggest the AUKUS policy is playing a significant role in maintaining this atmosphere, despite the Labor government’s more “restrained” public rhetoric on China. – reported at Pearls & Irritations

The ABC reports: ‘Victoria has been labelled the worst jurisdiction in the country to open a new business ‘

‘The poor ranking in this year’s annual Business Council of Australia (BCA) review of taxes and regulations found the Labor-run state had the nation’s “worst business settings” and the “most work to do in improving its business fundamentals”. ‘