Qantas CEO Vanessa Hudson sees more positive fuel, currency outlook
A stronger Australian dollar would support outbound tourism, benefiting airlines such as Qantas. Hudson also told the Macquarie Australia Conference that next financial year the airline's capacity on its US routes would be back at pre-pandemic levels.
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Perth Now
an hour ago
- Perth Now
Sweet and sour in Beijing: PM's China trip bears fruit
Sweet and tangy jujubes could soon be on the way to Australian shelves as part of a broadened trade pact with China. The agreement was one of six signed by Prime Minister Anthony Albanese and Chinese Premier Li Qiang on Tuesday as Australia and China sought to boost business links as US President Donald Trump upends the global trade order. Jujubes, a small apple-like fruit, will be exported to Australia while apples from the Australian mainland will be allowed to be exported to China for the first time. Another four memoranda of understanding were signed by the pair as Mr Albanese met the highest-ranking Chinese leaders - President Xi Jinping, Premier Li and Chairman Zhao Leji - in the centrepiece of his six-day visit to China. Australia and China must deepen economic co-operation given increasing trade frictions elsewhere, Mr Li said after a lavish welcome in Beijing's Great Hall of the People. "In recent years, co-operation has encountered headwinds," he said, adding that it was hard to find two countries with more complementary economies than Australia and China. His comments were echoed by Mr Albanese. "My government believes unequivocally in free and fair trade as a driver of global growth, and I know the discussions that we've had today have been very constructive," he said. But the relationship is not without its challenges. China has chafed at Australia's stringent foreign investment regime on Chinese firms. Mr Li said China would protect the rights of foreign businesses and treat them in accordance with the law, in an oblique reference to Australian plans to tear up a Chinese-owned company's lease of Darwin Port. "I trust Australia will treat Chinese enterprise fairly and properly resolve issues regarding market access and investment review," he told a gathering of Australian and Chinese business leaders. Mr Li and Mr Albanese also signed an agreement to kickstart a review of the 10-year-old free trade agreement between the two nations. Collaboration on steel decarbonisation, increasing tourism links and paperless certification of agriculture products were also broached at the meeting. The prime minister will visit the Great Wall on Wednesday before flying out to Chengdu in the southwestern province of Sichuan - known as the home of the giant panda.
News.com.au
4 hours ago
- News.com.au
Environmental reform could slash government spending, lift productivity: expert
Urgent reform of Australia's 'broken' environmental laws would dramatically cut government costs and lift productivity growth, a leading environment expert claims. The Albanese government has faced continued pressure over Australia's sluggish productivity growth, which is among the worst in the developed world. Australian Climate and Biodiversity Foundation chair Ken Henry said sweeping environmental reform could be the solution. The former Treasury secretary will tell the National Press Club in Canberra on Wednesday there is 'no chance' the Labor government will meet its net-zero target while also delivering upon housing and infrastructure commitments without reform to state and federal environmental protection laws. 'The Australian government has an ambition to massively increase critical minerals exports and downstream processing here in Australia,' Dr Henry is expected to state. 'This means more mines, new industrial facilities, and more pressure being loaded onto broken EPBC project assessment and approval processes.' The Environment Protection and Biodiversity Conservation Act, or EPBC, is Australia's main national environmental legislation. Dr Henry said the government's pledge to erect 1.2 million homes by 2030 would require more land and transport, meaning more interaction with EPBC assessments. 'These projects, be they wind farms, solar farms, transmission lines, new housing developments, land-based carbon sequestration projects, new and enhanced transport corridors or critical minerals extraction and processing plants, must be delivered quickly and efficiently,' Dr Henry will tell the NPC. 'All these projects will be critical to enhancing economic resilience and lifting flagging productivity growth. 'Boosting productivity and resilience relies upon environmental law reform. 'But the biggest threat to future productivity growth comes from nature itself; more particularly, from its destruction.' Dr Henry will urge for a breaking of the 'deadlock' to deliver sweeping reforms in a single package. They would include protecting Matters of National Environmental Significance guidelines by shifting the focus to regional planning, urgent finalisation of the effective national environmental standards, and formation of a national environmental protection agency. He will also urge for 'genuine co-operation and a shared purpose' between business and environmental groups as well as between the states and federal government. 'Environmental law reform provides an opportunity to reconstruct the co-operative federal reform capability we developed in the 1990s but have since lost,' Dr Henry will state. 'A strong federal reform capability will be required to deliver other, even more challenging economic reforms. Environmental law reform can provide the template.' Dr Henry said there was 'no point in building a faster highway to hell', and while approvals needed to be granted faster, the environment needed to be protected. 'In reforming the EPBC Act, we can get this right. We have had all the reviews we need,' he will say. 'All of us have had our say. It is now up to parliament. Let's just get this done.' The Labor government is contending with a raft of proposals to fix productivity, from superannuation reform to artificial intelligence and disability inclusion. At the same time, Environment Minister Murray Watt said in May that legislating a federal environment protection agency was a 'very high and immediate' priority.
Perth Now
5 hours ago
- Perth Now
One thing missing to fix Aussie crisis
Urgent reform of Australia's 'broken' environmental laws would dramatically cut government costs and lift productivity growth, a leading environment expert claims. The Albanese government has faced continued pressure over Australia's sluggish productivity growth, which is among the worst in the developed world. Australian Climate and Biodiversity Foundation chair Ken Henry said sweeping environmental reform could be the solution. The former Treasury secretary will tell the National Press Club in Canberra on Wednesday there is 'no chance' the Labor government will meet its net-zero target while also delivering upon housing and infrastructure commitments without reform to state and federal environmental protection laws. 'The Australian government has an ambition to massively increase critical minerals exports and downstream processing here in Australia,' Dr Henry is expected to state. 'This means more mines, new industrial facilities, and more pressure being loaded onto broken EPBC project assessment and approval processes.' The Environment Protection and Biodiversity Conservation Act, or EPBC, is Australia's main national environmental legislation. Australian Climate and Biodiversity Foundation chair Ken Henry says environmental reform would boost productivity. NewsWire / Martin Ollman Credit: News Corp Australia Dr Henry said the government's pledge to erect 1.2 million homes by 2030 would require more land and transport, meaning more interaction with EPBC assessments. 'These projects, be they wind farms, solar farms, transmission lines, new housing developments, land-based carbon sequestration projects, new and enhanced transport corridors or critical minerals extraction and processing plants, must be delivered quickly and efficiently,' Dr Henry will tell the NPC. 'All these projects will be critical to enhancing economic resilience and lifting flagging productivity growth. 'Boosting productivity and resilience relies upon environmental law reform. 'But the biggest threat to future productivity growth comes from nature itself; more particularly, from its destruction.' Dr Henry will urge for a breaking of the 'deadlock' to deliver sweeping reforms in a single package. They would include protecting Matters of National Environmental Significance guidelines by shifting the focus to regional planning, urgent finalisation of the effective national environmental standards, and formation of a national environmental protection agency. Environment Minister Murray Watt said legislating a federal environment protection agency was a 'very high and immediate' priority. NewsWire / Martin Ollman Credit: News Corp Australia He will also urge for 'genuine co-operation and a shared purpose' between business and environmental groups as well as between the states and federal government. 'Environmental law reform provides an opportunity to reconstruct the co-operative federal reform capability we developed in the 1990s but have since lost,' Dr Henry will state. 'A strong federal reform capability will be required to deliver other, even more challenging economic reforms. Environmental law reform can provide the template.' Dr Henry said there was 'no point in building a faster highway to hell', and while approvals needed to be granted faster, the environment needed to be protected. 'In reforming the EPBC Act, we can get this right. We have had all the reviews we need,' he will say. 'All of us have had our say. It is now up to parliament. Let's just get this done.' The Labor government is contending with a raft of proposals to fix productivity, from superannuation reform to artificial intelligence and disability inclusion. At the same time, Environment Minister Murray Watt said in May that legislating a federal environment protection agency was a 'very high and immediate' priority.
