Research shows growing importance of positive social impact for retailers
Australian consumers expect companies to act in a more socially and environmentally responsible way and many are willing to pay more for products and services that are values aligned, according to new research from the Australian Retailers Association (ARA) in collaboration with the Queensland University of Technology (QUT). The in-depth survey measuring how Australian consumers perceive a retailer's corporate purpose, how it impacts behaviours and how perceptions differ across industries and product categories found: A majority (69%) of consumers believe that the purpose of a retail company in general is to respond better to social and environmental issues. Consumers are willing to pay more to buy products/services with retailers whose values align with theirs, with 24% willing to pay more than 5% and 13% willing to pay more than 10%.
Insurance Catastrophe declared for Victoria, NSW and Tasmania
The Insurance Council of Australia (ICA) has today escalated its significant event declaration to an Insurance Catastrophe for regions of Victoria, Tasmania and New South Wales impacted by severe weather and flooding that has occurred since 12 October. This declaration reflects the growing severity of the floods and the forecasted further extreme weather. Floodwaters are expected to peak across three river systems in Victoria today: the Murray, the Goulburn and Campaspe, putting thousands of homes and businesses at risk. According to forecasters, areas in northern Tasmania and in western New South Wales are also at risk of further flooding in the coming days.
Winton Shire Council becomes 36th council to join the Small Business Friendly Councils Program
Small businesses across the Winton Shire are set to benefit from council joining the Small Business Friendly Councils (SBFC) Program. Minister for Employment and Small Business Di Farmer welcomed Winton to the growing network of councils that have joined the Small Business Friendly Councils Program. "Small businesses are the heart and hubs of our local communities and are crucial to our $14.5 billion COVID-19 Economic Recovery Plan," Minister Farmer said. "They are our families, our friends, our neighbours and they keep our communities strong. It's fantastic to see so many councils have committed to the Small Business Friendly Councils Program, with many others lining up to join them."
Supporting Victorians through flood clean-up
Prime Minister Anthony Albanese said joint clean-up funding, more operational support and wider relief payment eligibility has been made available today as tens of thousands of Victorians continue to deal with widespread flooding across the state. Victorians whose homes and businesses are destroyed or damaged in the floods can have their properties cleared of hazards, and made safe, at no cost - thanks to joint funding from the Australian and Victorian Governments. Clean-up assistance is being provided through the jointly-funded Commonwealth-State Disaster Recovery Funding Arrangements with an initial investment of $150 million to prioritise hazard assessments and clean-up. This first phase of the jointly funded clean-up program will be coordinated by Emergency Recovery Victoria (ERV) - with registrations already open.
APRA publishes Wayne Byres' final speech as Chair
The Australian Prudential Regulation Authority (APRA) has published Wayne Byres' final speech as APRA Chair, which he delivered this afternoon to an event in Sydney. In "Some reflections on the future", Mr Byres offered some parting thoughts on several of the defining issues he has encountered during his eight years as APRA Chair.
ACCC pays tribute to Delia Rickard, welcomes Catriona Lowe as Deputy Chair
ACCC Chair Gina Cass-Gottlieb has welcomed the Governor General's recent appointment of Catriona Lowe as ACCC Deputy Chair and applauded the contribution of departing Deputy Chair Delia Rickard. Ms Lowe has been appointed for a five-year term from 27 January 2023 when Ms Rickard will finish her term after more than a decade with the ACCC. "I am delighted with Catriona's appointment. In her varied roles as a regulator, litigator and consumer advocate, Catriona has demonstrated a strong commitment to consumer issues and protection of consumer rights over many years," Ms Cass-Gottlieb said.
Mobile service centres sent to flood zones
Services Australia's Mobile Service Centres Golden Wattle and Blue Gum have been deployed to flood affected regions in Victoria and Tasmania. The Australian Government has moved quickly to support people impacted by flooding in Victoria, Tasmania and New South Wales, with disaster assistance payments available for people in more than 100 Local Government Areas. Minister for Government Services the Hon Bill Shorten MP said the Mobile Service Centres reinforce the Federal Government's commitment to supporting all Australians, no matter where they live, when they need it most. "These vehicles have covered nearly every corner of this expansive country, travelling more than a million kilometres combined since they first hit the road - around the same distance as three trips to the moon," Minister Shorten said.
Consumer spending strong in the lead up to Christmas
Australian retail sales continue their impressive run in the lead up to Christmas with sales increasing 25.9% in September compared to the same time last year, with sales also up 32.7% on pre-pandemic levels according to the latest Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment. All retail categories continued to record significant year on year sales growth as we cycle the east coast lockdowns of 2021. Lodging recorded the biggest increase in trade in September, up 118.4% compared to 12 months prior, followed up by Jewellery (up 113.8%), Apparel (up 95.2%), Electronics (up 74.2%) and Home Furnishings (up 51.4%). Australian Retailers Association CEO Paul Zahra said consumers are continuing to spend in the face of cost-of-living pressures, and that's likely to continue over the festive trading period.
New "One-stop-Shop" to support hospitality businesses
The NSW Government has launched a "one-stop-shop" concierge service, with a dedicated team to help start or grow hospitality businesses across the State. Minister for Hospitality and Racing Kevin Anderson said Hospitality Concierge will streamline application processes, and assist businesses and local councils to navigate the liquor licensing, planning and regulatory changes introduced through the 24-Hour Economy reforms. "We recognise that it can be challenging for businesses to access initiatives and support which involve contact with multiple agencies. With Hospitality Concierge the process is streamlined, through an online enquiry, followed by a phone call at a time that suits you," Mr Anderson said.
National Skills Commission Vacancy Report - September 2022
In seasonally adjusted terms, job advertisements decreased by 5.9% (or 17,600) in September 2022 to stand at 282,600. Despite this monthly fall in job advertisements, over the last twelve months job advertisements have increased by 19.7% (or 46,600 job advertisements).
Important changes to farm debt mediation set to strengthen Victorian farmers' rights
To strengthen farmers' rights to farm debt mediation and streamline the process, important changes to the Farm Debt Mediation Act 2011 (the Act) will soon take effect. Under the Act, a farmer has the right to be offered mediation by their creditor before the creditor can start debt recovery on their farm mortgage. At mediation, an independent mediator helps a farmer and their creditor to confidentially reach an agreement about farm debt arrangements - without the high costs, stress and lengthy delays that come with legal recovery proceedings. The VSBC will keep providing early help to farmers and creditors, which includes discussing rights and obligations when it comes to mediation, informing farmers about the free and independent support offered by the Rural Financial Counselling Service and arranging a suitable time and place for mediation to happen.
Backing our flood-affected businesses and farmers
The Victorian Government is supporting primary producers and small businesses across Victoria affected by the devastating floods to get back in business, with an initial package of support to help kickstart their relief effort. A $73.5 million package will deliver grants to help farmers and business owners clean up their properties, while business mentoring, concessional loans and transport subsidies will help businesses get back on their feet. The $19.5 million Primary Producer Flood Relief Program will deliver a one-off $10,000 payment - administered by Rural Finance - to primary producers directly affected by the floods to help them clean up, re-establish their properties, and get their businesses up and running again. The grants will cover activities like the removal and disposal of debris and injured or dead livestock, repairing essential equipment, fixing and replacing fencing, buying fodder, water and water storage, salvaging damaged crops, grain or feed.
