- The federal government has launched what it describes as the biggest shake-up to the immigration system in decades, in an effort to address the country’s chronic shortage of workers.
- Immigration Minister Clare O’Neil said a panel of three experts would lead a review of the system, with their report due ahead of the May 2023 budget, allowing its recommendations to feed into the decision-making process.?
- Ms O’Neil said the current system was too bureaucratic and was not functioning for businesses, workers, or the country.
- The Reserve Bank of Australia will work to gradually bring down high and rising inflation in an attempt to avoid damaging the economy, according to Deputy Governor Michele Bullock.
- However, she warned that the central bank would not hesitate to raise interest rates quickly if that were considered necessary.
- “If we have some particularly bad news on inflation, or for all the reasons we think we might be different on wages it turns out we’re not, then don’t doubt our resolve to increase your interest rates quite quickly,” she said.
- Health authorities have warned that a recent rise in Covid-19 cases due to the new Omicron variant XBB could lead to a fresh wave of infections across the country.
- Chief Medical Officer Paul Kelly said the federal government was monitoring cases in Australia. “All indications are that this is the start of a new Covid-19 wave in Australia,” he said. “This was to be expected and will be part of living with Covid-19 into the future.”
- Professor Kelly said the experience to date with the two variants was that they do not appear to pose a greater risk of severe illness and death — and that the Covid-19 vaccines provide good protection.
- Professor Brian Schmidt, Vice-Chancellor of the Australian National University, has described bringing a fleet of nuclear-powered submarines into service as one of the biggest workforce challenges Australia has faced.
- Speaking to the Submarine Institute of Australia's conference, Professor Schmidt said Australia has the expertise and capability to bring the boats into service, but what it currently lacks is the scale to deliver the graduates and skills in the required quantities.
- Defence Minister Richard Marles told the same conference Australia would need to broaden its industrial base to deliver nuclear-powered submarines. “To do all of this actually requires a defence industrial base across the country, so, this is going to require a significant national attention,” he said.
For more on these and other developments, see today’s edition of CMAX Advisory’s?Australian Weekly Report.
