Global Scans · Australia · Weekly Summary

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WHAT'S NEXT?: Australia will no longer be known for being as dependant on the export of natural resources over the next half century as in 2012. The need for new infrastructure to meet the strong population and economic growth of Australia will continue to be a priority for the medium term. There's no doubt the aftermath of China's credit boom poses a much bigger economic threat to Australia than Britain's withdrawal from the European Union. The Growth rate for Australia is expected to be stronger, although still below the long-term trend.

• [New] The extra payments to Western Australia will initially be funded from general Commonwealth tax revenue, rather than by cutting GST payments to other states. The Conversation
• [New] Australian companies will soon need to account not only for their own direct greenhouse emissions and indirect emissions from electricity, but also indirect emissions from upstream and downstream activities (scope 3 emissions). The Conversation
• [New] While nuclear power might experience a resurgence globally and eventually have a role in Australia, right now, no matter how much intent there might be to activate a nuclear power industry, it is difficult to envision before the mid-2040s. SmartCompany
• [New] Further work to boost regional security is taking place between the UK and US via the AUKUS programme, which will see the construction of conventionally-armed nuclear-powered submarines to be delivered to Australia's navy. GOV.UK
• [New] The opportunity to produce Green Hydrogen through renewable electrolysis of water is emerging throughout Australia as we develop and increase renewable energy capacity (predominantly via solar and wind). Hfw
• [New] The Office of the Australian Information Commissioner expects organizations to be compliant and to have security measures in place to minimise the risk of a data breach. Stephens Lawyers & Consultants
• [New] There will be over 200,000 cases of cancer diagnosed in Australia. Australian Institute of Health and Welfare
• [New] The problem of managing PV in Australia is more immediate than previously anticipated with waste volumes emerging in the next two to three years, particularly in New South Wales, Victoria and Queensland. PV Tech
• [New] In the past year Australian wages have grown at their fastest rate since 2009, and electricity prices remain elevated after significant inflation, but could begin to fall mid-year. The Guardian
• [New] In any conflict scenario, Australia will still depend on international shipping to carry its trade. Baird Maritime
• [New] AUSTRALIAN growers will benefit from improved pest management strategies with the commencement of two new research projects focusing on beneficial insects, or beneficials, in canola. Beef Central
• [New] When strategies to cope with supply chain disruptions are compared between Australia and the rest of the world, the implementation of solutions has been more urgent in Australia. Insurance Business
• [New] In an age of rapid technological evolution, Australian businesses are on high alert as experts warn of an impending surge in cyber threats. Insurance Business
• [New] Higher production in New South Wales and Queensland is expected to push Australia's exports up from 156 million mt in 2022-23 to 175 million mt in 2028-29. SteelOrbis
• [New] The need for the retention of data will be a focus of the Office of the Australian Information Commissioner when investigating the impact of data breaches. Gallagher Australia
• [New] Australia is an incredible option for anyone looking for better job opportunities, a high standard of living, and a high quality of life. NewsNowGh
• [New] Japan has expressed particular interest in developing a 'hydrogen economy' that could include imports from MENA and other suitable producers such as Australia. SpringerLink
• [New] Real Estate and Property Development The property sector is expanding in Australia and around the world, creating a wide range of employment opportunities in the commercial, residential and tourism sectors of the real estate and property management industries. Programs and courses
• [New] Australia, the United Kingdom, and the United States are making significant investments in their respective submarine industrial bases, which will ensure the supply chains of all three nations are more resilient, integrated and productive. GOV.UK
• [New] The drop in anti-dumping tariffs has opened doors for renewed trade relations, particularly with countries like Australia, which could reshape the competitive landscape of wine imports in China. MSA
• [New] The Reserve Bank of Australia has outlined an alarming cash-use cycle, showing that if cash usage continues to fall, it could become uneconomic for banks and other ATM providers to offer cash services in some regional areas. The Conversation
• [New] New Zealand expects the PRC to respect its right to explore joining AUKUS, a trilateral security partnership between Australia, the United Kingdom, and the United States. Institute for the Study of War

Last updated: 19 April 2024