Latest news with #profiteering
The Guardian
11-07-2025
- General
- The Guardian
Australia's current childcare funding model risks failing our most precious people
When you attach profit to caring, you create a problem. We don't need yet another series of reviews and reports to tell us that when you rely on the blunt-force of the market, you will see profiteering from government subsidies, lack of quality in service delivery dressed up as 'efficiency' to maximise profits, and next to no services in areas where there's little money to be made. Australia's current funding model, the childcare subsidy (CCS), has facilitated the rapid expansion of for-profit providers, who now operate nearly 75% of all childcare services across the country. Research shows that for-profit providers typically deliver lower quality care while charging higher fees than not-for-profit services. Individual providers who are failing in their care for our most precious people should be held to account, but this is a systemic failure, and the broader fix will be a big, complicated job. Many of those who work in the early childhood education sector will tell you that they struggle to provide quality education to our children and to keep them safe amid sometimes shocking lack of oversight and adherence to existing rules. In a recent national survey of 2,000 members from the AWU, conducted before charges were laid against a worker in Victoria, one staff member from that state said 'I can't even guarantee the safety of the children and myself'. Of the educators surveyed, 77% said they were operating below minimum staffing requirements at least weekly, and 42% said it was happening daily. The early childhood educators who I have met have been hard-working, kind, mostly women, who work for low pay to do incredibly important work. Some private centres are exceeding requirements and standards. But most are not, and the system is failing not only children and families, but the staff and organisations who are doing the right thing. The ABC's Four Corners report in March revealed that one in 10 childcare centres in Australia have never been rated by regulators and pointed out that only 14% of for-profit centres meet national standards. Those standards are set by the Australian Children's Education and Care Quality Authority (ACECQA), but it has no power to enforce them across a system which is managed by states and territories. So how do we fix it? This question needs to be tackled now, especially if the government is serious about implementing a universal early childhood education and care system, which it should be. Evidence shows that children do most of their formative development under age five, and that quality early childhood education enables them to reach their full potential. That opportunity must be offered to all children in an equitable society. Quality, accessible, affordable care also enables women to work. It begins to remove the innate disadvantages for women who begin a lifelong slide into lower wages, less superannuation and higher financial risk almost as soon as they walk out of school or tertiary education. For those reading along who will now default to the simplistic just stay home with the kids position, get a grip. Single parents don't have a choice. Nor do couples who are struggling with the price of housing. This generation of parents may not have the option of one parent staying at home. Do not blame families for this. Safe, quality, accessible, affordable care for our children is essential for families, women, children and the economy. But protecting profit for private providers should not be guiding policy. What we need is better oversight and better regulation. Governments like being presented with solutions, so here are two. First, as the National children's commissioner, Anne Hollonds, says, 'National cabinet must make 'child safety and wellbeing' a key priority.' 'Currently the word 'children' is entirely missing from the list of priorities for National Cabinet.' We need a cabinet minister for Children. A minister would prioritise the litany of issues afflicting our kids, from the transformative opportunity to implement a universal early childhood education system, to youth safety and mental health, to the impact of social media and so on. Secondly, we need an Early Childhood Commission to set a national approach to regulatory standards, so that everyone is meeting them, including the for-profit providers. Earlier this year I joined The Parenthood, Goodstart Early Learning, Early Childhood Australia and Royal Far West calling for a national commission to set a national standard and weed out unscrupulous operators. It would also oversee the rolling out of a universal early childhood education system, a policy shift that could be as transformative as the introduction of Medicare for families, children and the nation. Labor has the numbers and the mandate to leave this legacy. Never waste a crisis. Zoe Daniel is a three-time ABC foreign correspondent and former independent member for Goldstein
Malay Mail
02-07-2025
- Business
- Malay Mail
Fahmi: Domestic Trade Ministry rolls out ‘Ops Kesan 4' to tackle profiteering after SST expansion
PUTRAJAYA, July 2 — The Domestic Trade and Cost of Living Ministry (KPDN) has launched 'Ops Kesan 4' to monitor and prevent profiteering activities following the expanded scope of the Sales and Service Tax (SST), said Communications Minister Datuk Fahmi Fadzil. He said the operation is part of the ministry's efforts to ensure that traders do not exploit the situation by raising prices unreasonably. 'The KPDN minister (Datuk Armizan Mohd Ali) announced yesterday the implementation of 'Ops Kesan 4', which among other things, aims to prevent profiteering following the SST expansion,' Fahmi said during the ministry's weekly press conference today. He urged the public to take note of the KPDN hotline and to lodge complaints if they come across any businesses charging unreasonable prices. Fahmi added that KPDN would promptly identify and take appropriate action against any businesses found guilty of such practices. Yesterday, Fahmi said he believed the new electricity tariffs would not lead to price increases. He also reiterated that some 23.6 million consumers are expected to benefit from lower electricity bills, with the revised tariffs taking effect yesterday. He said the new base tariff is 19 per cent lower than previously anticipated. 'For those using less than 1,000 kWh a month, their bills are likely to remain unchanged or may even be lower,' he said. He added that the most notable change under the new structure is the revised peak hours, now set from 2pm to 10pm starting yesterday.
Malay Mail
02-07-2025
- Business
- Malay Mail
Domestic Trade Ministry rolls out ‘Ops Kesan 4' to tackle profiteering after SST expansion
PUTRAJAYA, July 2 — The Domestic Trade and Cost of Living Ministry (KPDN) has launched 'Ops Kesan 4' to monitor and prevent profiteering activities following the expanded scope of the Sales and Service Tax (SST), said Communications Minister Datuk Fahmi Fadzil. He said the operation is part of the ministry's efforts to ensure that traders do not exploit the situation by raising prices unreasonably. 'The KPDN minister (Datuk Armizan Mohd Ali) announced yesterday the implementation of 'Ops Kesan 4', which among other things, aims to prevent profiteering following the SST expansion,' Fahmi said during the ministry's weekly press conference today. He urged the public to take note of the KPDN hotline and to lodge complaints if they come across any businesses charging unreasonable prices. Fahmi added that KPDN would promptly identify and take appropriate action against any businesses found guilty of such practices. Yesterday, Fahmi said he believed the new electricity tariffs would not lead to price increases. He also reiterated that some 23.6 million consumers are expected to benefit from lower electricity bills, with the revised tariffs taking effect yesterday. He said the new base tariff is 19 per cent lower than previously anticipated. 'For those using less than 1,000 kWh a month, their bills are likely to remain unchanged or may even be lower,' he said. He added that the most notable change under the new structure is the revised peak hours, now set from 2pm to 10pm starting yesterday.
Malay Mail
01-07-2025
- Business
- Malay Mail
Putrajaya to act against profiteering as new electricity tariff kicks in, says Fahmi
GEORGE TOWN, July 1 — Communications Minister Datuk Fahmi Fadzil said the government will act on all complaints of profiteering and price manipulation following the implementation of new electricity tariffs today. He said the Ministry of Domestic Trade and Cost of Living (KPDN) has launched Ops Kesan 4.0 from today to ensure there is no profiteering. 'I am always in communication with KPDN Minister Datuk Armizan Mohd Ali to provide the latest updates if netizens or the public raise any issues on price manipulation,' he said after officiating the launch of YTL Communications' Tanjung Asam six-way multi-operator core network (MOCN) base station here. Fahmi said he believed prices would not be affected by the new electricity tariffs. Earlier, he reiterated that a total of 23.6 million consumers could see lower electricity bills with the new tariffs coming into effect today. He said the new base tariff is 19 per cent lower than previously expected. 'Those who use less than 1,000 kWh a month will not only see the same bill amount, but there's a possibility that it will be lower,' he said. He added that the most significant change is that, starting today, 2pm to 10pm is considered peak hours. 'We can save by using high-energy consumption electronics and electrical appliances outside of peak hours,' he said. He explained that peak hours coincide with the period when most factories are in full operation, so the government is encouraging consumers to use most of their electrical and electronic appliances during off-peak times.
The Independent
05-06-2025
- Business
- The Independent
Elizabeth Warren claims Musk enriched himself to the tune of $100B during his time in the White House
Senator Elizabeth Warren has accused Elon Musk of using his role in the Donald Trump administration to increase his net worth by $100 billion, issuing a report that cites more than 100 instances in which he might have benefited financially from his position. The world's richest man's 130-day tenure as a special government employee came to an end on Friday, drawing a line under a chaotic four months in which he led DOGE in its mission to cut excess spending, waste, and fraud and oversaw the mass firing of tens of thousands of federal employees. Senator Warren has greeted his departure from the political scene with the publication of a new report alleging large-scale profiteering during his time in Washington, entitled: Special Interests Over the Public Interest: Elon Musk's 130 Days in the Trump Administration. 'Before Trump took office, Musk's companies faced at least $2.37bn in potential liability from pending agency enforcement actions,' her report states. 'Now many of those enforcement actions have stalled or been dismissed.' She continues: 'Musk's companies have received or are being considered for large contracts with the federal government, with foreign governments, and with other private sector companies. 'Musk and individuals acting on his behalf have been involved in dozens of questionable actions that raise questions about corruption, ethics, and conflicts of interest.' Once an enthusiastic Trump supporter who poured $288m into the Republican's presidential campaign last year, Musk has since cut a disgruntled and beleaguered figure, angrily attacking the president's 'big beautiful bill' as a 'disgusting abomination' as it makes its way through the Senate, winning the support of conservative fiscal hawks in the process. Warren makes clear that not all of the instances she goes on to cite constitute lawbreaking but argues that Musk 'violated norms at an astonishing pace' and, in some cases, 'engaged in action that may have violated the statutory prohibition regarding federal employees' participation in particular matters in which a government official has a financial interest.' Her report lists 130 alleged offences in total, one for every day he served, some of which occurred in plain sight, notably Trump using the White House lawn as a showroom forecourt from which to promote Musk's Tesla electric vehicle range and Commerce Secretary Howard Lutnick advising Fox News viewers to invest in Tesla stock during an interview with Jesse Watters. Warren also gives behind the scenes examples of conduct she argues might have benefited the billionaire, including his recommending changes at Nasa to suit SpaceX and alleged attempts to convince federal agencies to use his Starlink satellite technology, a rejection of which has been mooted as one of the central reasons for Musk's relationship with Trump beginning to disintegrate.
