Latest news with #Unions
ABC News
2 days ago
- Business
- ABC News
Live: Unions want AI job protections and ASX tipped to fall on open ahead of inflation data
Unions want enforceable agreements on AI job protections before the technology is deployed, a flashpoint before the government's looming economic roundtable. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice.
Irish Times
6 days ago
- Business
- Irish Times
Government likely to delay VAT reduction for hospitality sector until mid-2026
The Government is likely to delay the VAT cut for the hospitality industry until the middle of next year, creating more room for tax cuts in Budget 2026. It is also possible that the lower VAT rate of 9 per cent will be extended only to hospitality – ie, food and drink in bars, restaurants and hotels – and not to accommodation. The tax strategy papers due to be published today, which inform the budget process now under way within Government, are expected to say that such a separation would be complicated, but not impossible. [ 'Economic vandalism': Unions condemn plan to cut VAT for hospitality sector Opens in new window ] Senior political sources involved in discussions on the issue stressed that it would be possible, if complex. READ MORE Minister for Finance Paschal Donohoe said at the launch of the Government's summer economic statement on Tuesday that the full-year cost for the VAT cut would be almost €1 billion – which would take up to two-thirds of the available resources for tax cuts in the budget. However, three senior sources, all with knowledge of the discussions at the top level of Government on the issue, confirmed that they expect that the VAT cut for hospitality would be introduced in mid-year, possibly on July 1st. This would dramatically cut the cost of the move for next year, creating room for other tax cuts in the budget. Current modelling suggests that the full year cost of reducing VAT to 9 per cent for hospitality and hairdressers would come to €715 million. New Central Statistics Office data out next week may drag that estimate up further, however. Will the Government's big projects survive the next downturn? Listen | 36:20 Sources indicated that an introduction halfway through the year would bring the cost down to roughly half that figure, although that could move marginally up or down due to seasonal factors. The programme for government promises measures to support small to medium-sized enterprises, in particular those in the retail and hospitality sector. It emphasises this will 'entail changes to VAT, PRSI and other measures' as part of the budget process, but does not detail specific commitments. The Department of Finance has long-harboured a deep ambivalence about the benefits of such a measure. A previous cut was reversed in 2023 and there was intensive but unsuccessful lobbying from the sector to secure another reduction in last year's budget. Tax strategy group papers from last year noted the inherent difficulties in applying different rates to the industry – namely, that the higher rate would apply to all accommodation operators, including small B&Bs and hotels, as well as 'significant practical operational concerns' including those relating to packages ranging from bed and breakfast accommodation through to all-inclusive deals. Officials last year warned these could combine to lead to underpayment of VAT and additional complexity for Revenue and taxpayers, as well as increased risk of avoidance and scope for manipulation. On Wednesday, Fianna Fáil Minister of State for Justice Niall Collins stated a personal belief that a universal VAT reduction for hospitality is 'not merited', arguing on Limerick's Live95 radio station that there was 'little to no evidence' that a previous temporary reduction was passed on to consumers. [ Does the hospitality sector really need a VAT cut? Opens in new window ] Trade unions also criticised the move, describing the suggestion that tax cuts worth up to €1 billion could be granted to hospitality as 'economic vandalism'. They also argued that the facts about the hospitality sector do not justify tax cuts, saying the sector is now growing. It comes as the Irish Fiscal Advisory Council said the Government's ongoing spending overruns amount to 'poor planning and budgeting'. It follows the summer economic statement showing that planned expenditure for this year is now expected to amount to €108.7 billion, €3.3 billion more than set out in Budget 2025. Some €90.5 billion was allocated in the budget to current expenditure, or the cost of delivering public services, and €14.9 billion to capital expenditure. Both have since increased.
The Guardian
6 days ago
- Business
- The Guardian
RBA wary of cutting rates until it has more evidence on inflation, Bullock says
The Reserve Bank is wary of cutting interest rates until it has gathered more evidence that inflation remains on a path back towards the 2.5% target, Michele Bullock says, as the governor defended the central bank's slow and steady approach to monetary policy. In a speech to the Anika Foundation in Sydney, Bullock also said the RBA was not targeting 'a certain unemployment rate or number of job losses' in its pursuit of low and stable inflation. Unions have harshly criticised the RBA's reluctance to cut interest rates despite inflation dropping well below 3%, saying the surprise decision on 8 July to not offer further mortgage relief had been a 'blow to workers'. Jim Chalmers has been more circumspect, but still noted that 'millions of Australians' would have been disappointed by the outcome. But Bullock in her speech defended the bank's record and its cautious approach, saying price pressures have been largely brought under control over the past two-and-a-half years without the significant rise in unemployment that has typically been the price of taming inflation. The key jobless measure ticked up to 4.3% in June, but has held largely steady at 4-4.1% over the preceding 18 months. Inflation is at 2.4%. Instead of job losses, the labour market has adjusted via Australians working fewer hours, voluntary job switching, and a drop in job vacancies, she said. 'Having your hours cut is tough, but it's often preferable to losing a job altogether. And it's worth noting that some of this decline in hours has been voluntary, especially over the past year or so.' While it's clear the RBA believes it will lower rates further this year, Bullock said the bank believed there was 'still some tightness in the labour market', and that the monetary policy board had become more concerned that consumer price growth was not falling as quickly as expected. 'We still think it (the consumer price data) will show inflation declining slowly towards 2.5 per cent, but we are looking for data to support this expectation.' Bullock said the bank's focus on keeping as many of the post-pandemic employment gains led to the board's decision to raise rates more slowly than in other countries. The flip side was that interest rates in Australia did not rise as high as they did in some other economies, and 'so we may not need to lower them as much on the way down'. This lingering concern over inflation contributed to the monetary policy board's surprise decision to hold the cash rate at 3.85% following its last meeting - although the decision had not been unanimous, after three of the nine board members voted in favour of a cut. Confirmation that price pressures are still easing are expected to come as soon as next Wednesday with the release of the inflation report for the June quarter. Financial markets and most economists at this stage are again predicting the cash rate will be lowered following the next policy board meeting on 11-12 August.
CNA
14-07-2025
- Politics
- CNA
US Supreme Court clears way for Trump to slash Education Department
WASHINGTON: The US Supreme Court on Monday (Jul 14) allowed President Donald Trump's administration to proceed with its plan to dismantle the Department of Education, part of his push to shift power over education back to the states. The court lifted a federal judge's order that had reinstated nearly 1,400 workers affected by mass layoffs and blocked the administration from transferring the department's key responsibilities to other agencies. The legal battle remains ongoing in lower courts. The justices issued a brief, unsigned order, with the court's three liberal members dissenting. BACKGROUND TO THE CASE A coalition of 21 Democratic attorneys general, school districts, and unions filed legal challenges to Trump's efforts, warning that the dismantling would impair the department's ability to fulfill its core duties. The Department of Education, established by Congress in 1979, manages college loans, monitors student achievement, and enforces civil rights in schools. It also distributes federal funding to support students with disabilities and underfunded districts. While federal law prohibits the department from controlling curricula, staffing or instructional methods, critics argue its federal presence is unnecessary. Republican leaders have long framed the department as a symbol of bureaucratic excess. PUSH TO CLOSE THE DEPARTMENT In March, Trump signed an executive order to close the department to the 'maximum extent' legally allowed. He stated: 'We're going to be returning education, very simply, back to the states where it belongs.' Trump promised to maintain certain key programmes, including Pell grants and support for disadvantaged students and those with special needs. He said those services would be transferred to other agencies, such as the Small Business Administration and the Department of Health and Human Services. Education Secretary Linda McMahon announced plans to cut the department's workforce in half, part of a broader downsizing strategy that avoids requiring congressional approval to formally eliminate the agency. COURT BATTLE In May, US District Judge Myong Joun, a Biden appointee, ruled that the firings could 'likely cripple the department.' He ordered reinstatement of the affected workers and halted the transfer of programs. 'The plaintiffs are likely to succeed in showing that defendants are effectively disabling the department from carrying out its statutory duties by firing half of its staff, transferring key programs out of the department, and eliminating entire offices and programs,' Joun wrote. The Boston-based 1st US Circuit Court of Appeals upheld Joun's injunction in June, rejecting a Trump administration request to pause it. In its Supreme Court appeal, the Justice Department accused Joun of judicial overreach. IMPACT ON EDUCATION Critics of Trump's plan argue that the shutdown could delay federal aid to low-income schools and special education programmes, resulting in potential staffing and programme cuts. They also warned of harm to civil rights enforcement, student performance tracking, and college financial aid systems. Despite these concerns, Monday's Supreme Court decision allows the Trump administration to resume its efforts to reduce the federal government's role in education, with key functions likely to be relocated across various agencies.
Borneo Post
04-07-2025
- Business
- Borneo Post
Integrity summit to gather 800 reps from across Borneo
Juanda, flanked by Hii (third second left) and Shahrul Razid, joins Wan Mohamad (second left) and others in a photo-call, taken after the press conference at Bangunan Baitulmakmur 2 in Kuching. KUCHING (July 4): The inaugural Borneo International Integrity Summit (BIIS) 2025 will be taking place at the Borneo Convention Centre Kuching (BCCK) from July 29 to 30, bringing together over 800 participants from across the region in a collective effort to promote good governance and ethical leadership. Organised by the Sarawak Integrity and Ombudsman Unit (Unions) under the Sarawak Premier's Department, in collaboration with Universiti Putra Malaysia (UPM) Sarawak and the Konsortium Universiti-Universitas Borneo (KUUB), the event will focus on fostering integrity as a cornerstone of sustainable development. Held under the theme 'Driving Innovation, Transparency and Ethical Leadership for a Sustainable Future', BIIS 2025 will record participation from academics, civil servants, students from 31 universities and colleges across Malaysia, Indonesia, Brunei and Singapore, as well as representatives of secondary schools and several government departments and agencies. According to Deputy Minister in Sarawak Premier's Department (Integrity and Ombudsman) Datuk Dr Juanda Jaya, BIIS 2025 is a strategic platform meant to elevate transparency, drive innovation and nurture ethical leadership across Borneo. 'The summit is not just an intellectual event, but a collective movement to embed integrity into our institutions and systems. 'Through KUUB and Unions, we are uniting voices across sectors to build a more transparent, fair and accountable future for Borneo,' he told a press conference on the event today. He stressed that the summit should reflect Sarawak's long-term vision of instilling integrity as a shared responsibility among leaders, educators, civil servants and youth. 'Integrity is not optional. It is the foundation of a progressive and just society. 'We are investing in a generation of leaders who are not only innovative and capable, but also guided by strong moral values and a sense of accountability,' said Juanda. Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg is scheduled to officiate at the opening ceremony this July 29. According to Juanda, the programme is aligned with the Sarawak government's commitment to cultivating a culture of integrity and ethical governance. 'This is how we build trust in public institutions, by showing that we are willing to be accountable, to collaborate, and to lead by example,' he added. He also said Sarawak would host BIIS every two years. 'As the permanent secretariat of KUUB, UPM Sarawak plays a central role in regional collaboration. 'The KUUB network currently includes 16 universities from Brunei, Indonesia (including Kalimantan), Sabah, Sarawak and Labuan,' he added. In conjunction with the summit, an 'Innovation Exhibition' will be set up, showcasing research works and products by local institutions of higher learning that have the potential to enhance socio-economic development and global well-being. Among the participating institutions are Centre of Technology Excellence (CENTEXS), Sarawak Skills, i-CATS University College, University Technology Sarawak (UTS), University Malaysia Sarawak (Unimas), Universiti Teknologi Mara Sarawak (Samarahan Campus), and Curtin University Malaysia. A memorandum of understanding (MoU) between KUUB and Unions will also be signed during the summit, aimed at strengthening the cooperation in enforcing integrity values across the region. The summit is supported by Business Events Sarawak (BE Sarawak) and the Ministry of Tourism, Creative Industry and Performing Arts Sarawak (MTCP). Also present at the press conference were Deputy State Secretary (Operations) Datu Hii Chang Kee, UPM Sarawak director Prof Dr Shahrul Razid Sarbini, and Unions director Wan Mohamad Wan Drahman. BIIS Borneo International Integrity Summit Dr Juanda Jaya Kuching
