Archived News for Professionals in Federal Government
Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted volume terms, grew 1.2% in the June quarter 2011, after a revised fall of 0.9% in the March quarter. Growth for the 2010-11 financial year is 1.8%.
The growth for the quarter was driven by a 0.8% contribution to growth from changes in inventories and a 0.7% contribution from final consumption expenditure. These increases were partially offset by a -0.5% contribution from net exports.
On the back of this GDP growth and a 5.4% increase in the Terms of Trade, Real gross domestic income grew 2.6% for the quarter.
The Terms of Trade has more than doubled over the past decade, rising from an index number of 60.5 in the June quarter 2001 to 122.6 in June quarter 2011.
Real gross domestic income grew 6.5% in the 2010-11 financial year, the largest growth since 1987-88.
Further details can be found in Australian National Accounts: National Income, expenditure and Product
Reports outline the nation's electricity supply outlook
The Australian Energy Market Operator (AEMO) has released its two-year outlook for the adequacy of power systems across Australia, together with a report of Electrical Statement of Opportunities (ESOO), which looks at power production for the longer term over three to ten years.
ACCC releases discussion paper on Telstra
The Australian Competition and Consumer Commission (ACCC) has released a discussion paper inviting comment from industry stakeholders and consumers in relation to Telstra’s structural separation undertaking and draft migration plan.
NSW to follow WA on royalties increase
The New South Wales Government has announced it will follow Western Australia's example and move to increase mining royalties.
Austrade's executive group announced
The Chief Executive of Austrade, Peter Grey, has announced Austrade’s new Senior Executive Group which will form the key body behind Austrade’s trade, investment and international education efforts.
Drought Pilot review published
The joint Western Australian and Federal Government Drought Pilot panel has published its drought policy platform into adapting and dealing with future droughts in the country.
Education funding research papers released
The Federal Government has announced the release of four new, independent research reports that will form part of the government's review into school funding.
Tax forum details released
The Federal Government has announced the invitation list, program and facilitators for the Tax Forum to be held in Canberra on 4 and 5 October.
Federal Government releases petroleum rent tax draft
Treasury has released an exposure draft legislation for the extension of the Petroleum Resource Rent Tax (PRRT) for public comment.
New appointments to Commonwealth Grants Commission
The Federal Government has announced three new appointments to the Commonwealth Grants Commission (CGC).
Federal Government establishes skills standards council
The Federal Government has announced the formation of the National Skills Standards Council (NSSC), which will act as a standards setting body for the vocational education and training (VET) sector with an aim to improve quality and consistency of VET regulation throughout the country.
Federal Government appoints reference group to measure university performance
The Federal Government has announced a new reference group to provide advice on the implementation of four higher education performance measurement instruments under the Australian Government’s $1.3 billion Advancing Quality in Higher Education initiative.
Push for inquiry into manufacturing rejected
The Federal Government has refused to conduct an inquiry into the state of manufacturing in Australia, citing fears that a move to protect the industry would threaten Australia's reputation as an open market economy with little sovereign intervention.
Government calls for comments on Digital Local Government program
The Federal Government has announced it will be calling for comments from stakeholders on the draft program guidelines for the Digital Local Government Program.
Federal Government launches financial services map
The Federal Government has launched an online mapping service to assist people in financial difficulty find their nearest financial counsellor.
Federal Government moves to introduce budget office
The Federal Government has introduced a new Parliamentary Budget Office (PBO) legislation before Parliament. If passed, the legislation will see the formation of the new office that will have regulatory powers that will seek to introduce increasing levels of transparency and dissemination of information regarding budget policy proposals.
BHP posts record Australian profits
In the wake of BHP Billiton’s record profit announcement, South Australian Greens MP Mark Parnell is calling on the South Australian government to insist that BHP process Olympic Dam ore in South Australia, not export it to China to save costs.
Federal Government announces environmental law reform
The Federal Government has announced the first major reform to the Environmental Protection and Biodiversity Conservation (EBPC) Act since its creation in 1999. The reform forms the Federal Government’s response to the independent review of the Act by Allan Hawke AC.
COAG agrees to development of mental health reform program
Work will begin on the development of a National Partnership Agreement on Mental Health following last week’s meeting of the Council of Australian Governments (COAG).
COAG announces logistics reform
The Council of Australian Governments (COAG) has announced a suite of safety and productivity reforms for the logistics sector that will aim at reducing the industry’s expenses by up to $30 billion. The reform packages cover rail, road freight and commercial shipping and are as follows:
Government releases marine reserves draft
The Federal Government has released a draft marine bioregional plan that proposes to establish marine reserves networks to protect marine environment in Australia’s north and north-east.