Category: Australian News

Greens Economic Justice spokesperson, Senator Nick McKim, responded to reports today that the government will loosen lending standards and relieve the banks of responsibility for determining a customer’s loan capacity to service a loan.
“Today’s announcement shows exactly where this government’s allegiances lie,” Senator McKim said.
“The day after Westpac received the largest corporate penalty in Australian history, the government is changing the rules to benefit the banks.”
“Looser lending standards will result in higher profits, higher dividends, and more money to flowing into the most overpriced housing in the world.”
“This will perpetuate the cycle of high household indebtedness, falling home ownership, and greater financial instability.”
“This is not the pathway to recovery.”
“We’ve just had a Royal Commission that showed the banks’ blatant disregard for the welfare of consumers and their willingness to engage in unlawful and predatory lending.
“And what’s this government’s response? Instead of making the banks abide by the law, they’re changing the law to abide by the banks.”
“Switching the onus of evaluating loan serviceability onto customers will mean the banks shove money down the throat of anyone with a heartbeat.”
“This is foie gras for banking.”
“I am hopeful that the Senate crossbench will join the Greens in opposing the overturning of the National Consumer Credit Protection Act.”
“So I ask Labor today: Whose side are your on? Consumers or the banks? The real economy or real estate speculation?”

Australian Greens Education spokesperson Mehreen Faruqi has said a report of the government-dominated Senate Education and Employment Legislation Committee into the Job-ready Graduates legislation is flawed and highly partisan.
The inquiry process was highly problematic, with a 22-day total inquiry period, only two days of hearings, and with no time allowed for discussion on Greens amendments to the report.
Senator Faruqi said:
“This is a flawed and highly partisan report. The Government have used their majority to ignore witnesses, rig the process and recommend this unfixable package be passed. The crossbench should see right through it.
“The report does not fairly convey the level of dissent to the bill heard by the committee. The report leans heavily on the approving comments of some stakeholders while failing to fairly include the more critical comments of others.
“The report fails to acknowledge that numerous key organisations did not support the bill, or only gave their support contingent on substantial amendments.
“Job-ready Graduates is terrible legislation. For no good reason, it will raise student fees and cut billions from Commonwealth contributions to teaching and learning.
“The Senate has the power to bin this bill. I call on all crossbenchers to fully consider the awful impacts of this austerity package for students, staff and universities.
“If passed, the legislation will damage higher education in Australia, possibly irreparably.”
Full Australian Greens Dissenting Report: https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Educatio…

The Morrison Government will invest $25 million through the landmark Medical Research Future Fund (MRFF) for research to improve the safe use of medicines and medicines intervention by pharmacists.
The new Quality, Safety and Effectiveness of Medicine Use and Medicine Intervention by Pharmacists MRFF Grant Opportunity will support the Quality Use of Medicine and Medicine Safety National Health Priority, and is part of the Governments significant ongoing investments aimed at improving access to medicines and the safe use of medicines in the community.
On World Pharmacists Day, our Government acknowledges the outstanding work of Australia’s pharmacists and pharmacy staff in communities across the nation.
Community pharmacies have kept their doors open to support Australians throughout some of the most challenging times in our recent history, including bushfires, floods, drought and a global pandemic.
The Landmark $18.35 billion Seventh Community Pharmacy Agreement (7CPA) signed in June 2020 with the Pharmacy Guild of Australia (Guild) and for the first time, the Pharmaceutical Society of Australia (PSA), strengthens the critical community pharmacy sector for the benefit of all Australians.
Two key improvements to community pharmacy programs through the 7CPA have now been finalised:

• From 1 January 2021, to help people take the right dose of medicine at the right time, changes to the Dose Administration Aids (DAA) program will increase the base cap of 30 to 60 services per week. This means pharmacists will be able to provide this important service to more patients each week
• From 1 January 2021 the Government will be boosting its investment in the Rural Pharmacy Maintenance Allowance (RPMA), to ensure people living in rural, regional and remote Australia have access to medicines and pharmacy services.

Our Government continues to provide essential support to Australia’s pharmacists through the COVID-19 National Health Plan.
The existing medicines related COVID-19 measures, including the Home Medicines Delivery Service and Continued Dispensing emergency arrangements will also continue for a further six months in line with other COVID-19 health measures.
The Home Medicines Service, introduced in March 2020 as part of this Government’s response to COVID-19, will continue to the end of March 2021 so people in home isolation or other vulnerable people can get the medicines they need delivered to their front door.
More than 1.1 million deliveries have been made by more than 4600 pharmacies through this service.
We have also extended the Continued Dispensing emergency arrangements to 31 March 2021, so people with chronic conditions can obtain their usual medicines at PBS prices, if they are unable to visit their doctor to get a new prescription. These emergency arrangements were implemented during the bushfires and will continue to provide additional flexibility for people during COVID-19 outbreak.
To better support telehealth arrangements as part of the COVID-19 National Health Plan, the Government has worked with the Australian Digital Health Agency, the Guild and the PSA, to fast track the implementation of Electronic Prescribing.
This will make it more efficient for pharmacists to dispense medicines and reduce prescribing and dispensing errors.
There are now more than 1,830 pharmacies across the country that are actively supplying medicines from electronic prescriptions with this number growing daily.
On World Pharmacists Day, the Australian Government thanks Australia’s pharmacists and pharmacy staff for their work in supporting their patients and their community.

I am pleased to announce all Australian governments have agreed to fund a new treatment for haemophilia patients, through our national blood arrangements.
Hemlibra®, also known as emicizumab, will be made available to eligible patients free of charge through the National Blood Authority (NBA), which is jointly funded by the Australian Government and all states and territories.
This breakthrough treatment would be out of reach for most people at over $675,000 per year, however with funding from governments this will now be available for free for eligible patients.
Approximately 800 patients are expected to benefit each year.
Hemlibra provides relief for patients with haemophilia A, who can suffer life-threatening and severely disabling internal bleeding and joint damage as their blood does not clot.
Currently, these patients require frequent intravenous infusions with clotting factor. If they develop antibody responses to this treatment, they require high cost bypassing agents.
Hemlibra is easier to administer and is only required by patients once a week compared with more frequent and more intrusive alternatives. It is also more effective than current clotting products in reducing bleeding incidents when patients have problems with antibodies.
The National Blood Authority is currently finalising arrangements with Roche, with 63 per cent of costs to be funded by the Australian Government, and 37 per cent by states and territories.
Regular supply of Hemlibra is expected to be available by December 2020.
The haemophilia community has called for this treatment to be provided through the NBA to ensure better treatment is available for affected individuals and families.
I would like to thank state and territory governments for supporting this decision, which will ensure Australians with this serious and debilitating condition can obtain the best possible treatment.

The Final Budget Outcome for 2019-20 shows Australia’s budget is in a much stronger position than many other comparable nations despite the significant health and economic challenges from COVID-19.
COVID-19 has caused severe economic contractions the world over, and to help cushion the blow for Australians the Morrison Government has provided an unprecedented level of support to households and businesses.
Through the Morrison Government’s strong fiscal management, Australia entered the COVID-19 crisis in a position of economic and fiscal strength.
The decisions we made prior to this crisis have improved our budget position by more than $250 billion.
This put us on a better, more sustainable fiscal trajectory for the future before we went into this crisis. If we had not done that, we would have had less fiscal capacity to respond and our economy would have been less resilient.
Returning the budget to balance for the first time in 11 years underpinned our capacity to respond to this unprecedented shock, with more than $300 billion in economic support committed to date. At the same time, our AAA credit rating has been reaffirmed during the pandemic by all three major credit ratings agencies.
Total cash payments were $57.7 billion higher than the 2019-20 MYEFO estimate, as Government supports like JobKeeper, the Coronavirus Supplement, the CashFlow boost and other economic support payments were made to Australians.
While payments increased as a result of COVID-19, total receipts were $33.1 billion lower than estimated at the 2019-20 MYEFO as economic activity across the world and Australia slowed.
The Australian Government general government sector recorded an underlying cash deficit of $85.3 billion in 2019-20.
This is a $0.5 billion improvement compared to the Economic and Fiscal update in July, but a $90.3 billion deterioration since the 2019-20 MYEFO.
A net operating deficit of $92.3 billion was recorded for 2019-20 compared with a pre-COVID-19 surplus of $8 billion estimated at the time of the 2019-20 MYEFO.
General government net debt was $491.2 billion (24.8 percent of GDP) which was $98.9 billion higher than estimated at the time of the 2019-20 MYEFO.
Despite our increased debt levels, they remain lower than many comparable nations with the average debt to GDP ratio for advanced G20 economies expected to exceed 100 per cent in 2020.
We will release the next instalment of our economic plan to help rebuild Australia’s economy and to get people back to work in the 2020-21 Budget on 6 October 2020.
The 2019-20 Final Budget Outcome document can be found via www.budget.gov.au

As part of the Morrison Government’s economic recovery plan, we are reducing the cost and time it takes consumers and businesses to access credit.
Credit is the lifeblood of the Australian economy, with billions of dollars in new credit extended to households and businesses in Australia each month.
Now more than ever, it is critical that unnecessary barriers to accessing credit are removed so that consumers can continue to spend and businesses can invest and create jobs.
What started a decade ago as a principles based framework to regulate the provision of consumer credit has now evolved into a regime that is overly prescriptive, complex and unnecessarily onerous on consumers.
The Government will simplify the system by moving away from a “one-size-fits-all” approach while at the same time strengthening consumer protections for those that need it.
Key elements of the reforms include:

• Removing responsible lending obligations from the National Consumer Credit Protection Act 2009, with the exception of small amount credit contracts (SACCs) and consumer leases where heightened obligations will be introduced.
• Ensuring that authorised deposit-taking institutions (ADIs) will continue to comply with APRA’s lending standards requiring sound credit assessment and approval criteria.
• Adopting key elements of APRA’s ADI lending standards and applying them to non-ADIs.
• Protecting consumers from the predatory practices of debt management firms by requiring them to hold an Australian Credit Licence when they are paid to represent consumers in disputes with financial institutions.
• Allowing lenders to rely on the information provided by borrowers, replacing the current practice of ‘lender beware’ with a ‘borrower responsibility’ principle.
• Removing the ambiguity regarding the application of consumer lending laws to small business lending.

These changes will make it easier for the majority of Australians and small businesses to access credit, reduce red tape, improve competition, and ensure that the strongest consumer protections are targeted at the most vulnerable Australians.
The Government will consult publicly with stakeholders before finalising any legislation required to implement the reforms.
Further information on the measures can be found on the Treasury website.

The Morrison Government will undertake the most significant reforms to Australia’s insolvency framework in 30 years as part of our economic recovery plan to keep businesses in business and Australians in jobs.
The reforms, which draw on key features from Chapter 11 of the Bankruptcy Code in the United States, will help more small businesses restructure and survive the economic impact of COVID-19. As the economy continues to recover, it will be critical that distressed businesses have the necessary flexibility to either restructure or to wind down their operations in an orderly manner.
Key elements of the reforms include:

• The introduction of a new debt restructuring process for incorporated businesses with liabilities of less than $1 million, drawing on some key features of the Chapter 11 bankruptcy model in the United States.
• Moving from a rigid one-size-fits-all “creditor in possession” model to a more flexible “debtor in possession” model which will allow eligible small businesses to restructure their existing debts while remaining in control of their business.
• A rapid twenty business day period for the development of a restructuring plan by a small business restructuring practitioner, followed by fifteen business days for creditors to vote on the plan.
• A new, simplified liquidation pathway for small businesses to allow faster and lower cost liquidation.
• Complementary measures to ensure the insolvency sector can respond effectively both in the short and long term to increased demand and to meet the needs of small business.

The reforms will cover around 76 per cent of businesses subject to insolvencies today, 98 per cent of whom who have less than 20 employees.
Together, these measures will reposition our insolvency system to reduce costs for small businesses, reduce the time they spend during the insolvency process, ensure greater economic dynamism, and ultimately help more small businesses get to the other side of the crisis.
On 22 March 2020, the Government announced temporary regulatory measures to help financially distressed businesses get to the other side of COVID-19. On 7 September 2020 the Government announced a further extension of this relief to 31 December 2020. The new processes will be available for small businesses from 1 January 2021.
Further information on the measures can be found on the Treasury website.

The Government’s NBN announcement is a small step in the right direction, but there are still significant issues that need to be addressed, the Greens say.
“This is an effective admission of guilt by the Liberals- that fibre to the premises should have been done years ago,” Greens NBN spokesperson Nick McKim said.
“It is encouraging that many more Australians will have access to faster broadband, but the plan announced today does not cover enough homes and businesses.”
“But this plan does not cover the exorbitant cost of broadband in Australia.”
“As we have seen this year in particular, the internet is an essential service, and cost is one of the biggest barriers preventing access.”
“Minister Fletcher also needs to address the NBN’s horrible record of mistreating contractors.”
“It is critical that all people employed on this project are treated as employees and paid all their relevant entitlements.”
“Finally, the NBN should scrap its plans to lay off 800 workers while paying bonuses to its senior executives. This is a terrible decision that simply should not happen during a recession.”

Following reports of a mass forced-labour program in Tibet, Greens Senator Janet Rice has called on the Chinese Government to allow access to the region so journalists and officials can look into these allegations.
Senator Janet Rice, Greens Foreign Affairs spokesperson said:
“Reports of a mass labour program in Tibet are deeply disturbing. This program has dangerous parallels with the enforced labour, indoctrination and surveillance of the Uighur people.
“The Tibetan people have suffered under Chinese Government oppression for many years.  They have been deprived of their right to freedom of speech and their right to freedom of religious observance.  Now it looks like hundreds of thousands of rural workers are being channelled into so-called “training” centres.
“The Morrison Government should raise Australia’s deep concerns and call on the Chinese Government to allow access to Tibet so that officials and journalists can see for themselves what is going on.”

Australian Greens Education spokesperson Senator Mehreen Faruqi has said she was proud to speak at and attend heavily-policed student rallies at the University of Sydney today, which were organised in opposition to the federal government’s proposed university fee hikes and funding cuts.
Senator Faruqi said:
“I was so proud to stand with students and staff in opposition to these terrible fee hikes and funding cuts.
“Unfortunately my speech was cut short by NSW police moving us on.
“It was outrageous to see, yet again, a heavy-handed police presence at these vital ongoing student rallies.
“It’s nothing less than authoritarian to shut down safety-conscious, socially distanced rallies while thousands are allowed to congregate at the footy.
“Public protest is a fundamental right and a cornerstone of a functioning democracy.
“Classes are in full swing and face-to-face. Police action at these rallies is not about public safety – it’s about shutting down democracy,” she said.