Latest news with #InnesWillox
ABC News
16-05-2025
- Business
- ABC News
Business leader Innes Willox begs Coalition not to reopen climate wars
Another battle within the federal opposition over net zero would "hobble" the Australian economy, a prominent business leader has warned, urging the parliament to focus on the mechanics of the climate transition. New Liberal leader Sussan Ley this week stated her belief that Australia should reduce emissions "appropriately" but could not say whether the Coalition would continue its commitment to achieving net zero emissions by 2050. Prominent business lobbyist Innes Willox said reconsidering net zero would be like "re-opening an old wound" and would undermine the confidence of investors. "Oh god no, no, anything but, please … For many in business there would be a lot of eye-rolling about this, simply because business had hoped that the broad fundamentals were settled," he told the ABC's Insiders: On Background podcast. "Business has been locked into net zero now for a long time [and] has already made investment decisions predicated on emissions reduction heading towards net zero by 2050. To reopen that now would put a lot of potential investment decisions on hold." Mr Willox, who is chief executive of industrial business lobby Ai Group, said there was room for debate about how to achieve the target including the future role of nuclear, but that net zero was a "north star" which let the market price and compare alternatives. "We have an agreed position that both political sides have settled on for some time, and that's given business and industry some certainty around investment. To go back on that now would make things very difficult." The Coalition's internal debate about climate policy has spilled out into the open since its heavy election defeat, with both Liberals and Nationals calling for a rethink. Matt Canavan, who challenged David Littleproud for the leadership of the Nationals, was explicit that net zero should be dropped and coal embraced, and while his leadership bid did not succeed his view is shared by several party colleagues. Liberal views are split between those who want the nuclear power policy ditched for more ambitious emissions reduction policies, those who want it retained but with less taxpayer money involved, and those who to double down or ditch net zero entirely. Even moderate Andrew Bragg has welcomed a rethink of that target, while Ms Ley has said energy policy should "start from the position of affordable, reliable, baseload power" and consider the energy needs of the manufacturing sector. Mr Willox said certainty about targets was important for the manufacturing sector, not just for investments in energy generation itself. "The one thing Peter Dutton said during the election campaign that was right on the money was that energy is the economy, and if we don't have energy right … Then we're really going to hobble ourselves as an economy," he said. "Energy is so important to a range of businesses, not just energy-intensive industry or generators or utilities, there is a whole range of things that are at stake here." He welcomed the nuclear debate and said there was merit in lifting the moratorium on nuclear energy, but that there were more pressing priorities. "The fact is that it is a longer-term option … Nuclear may have made things easier towards the end [of the transition] but as of now, it's not there. So we have to plan without it," he said. "What I kept hearing from the private sector was that in the Australian context, nuclear in the time frame that was being talked about wasn't going to stack up … Business needs to know that projects will be viable for a long time to make the investments they need to make, and at the moment it doesn't add up for nuclear for the private sector. "That's not to say that it won't in the future, but we're dealing with the here and now. That's why I think the Coalition went down the path of government funding to try to speed that up … [But] that changes the ball game when it comes to level playing fields around investment." Mr Willox said the debate the parliament needed to have was how to achieve the net zero transition, citing regulatory blockages as a major obstacle. "The government has through this last term had a whole range of objectives around renewable build and we just haven't achieved that as a country. We haven't built the solar farms, we haven't built the wind that was expected… "So we've got to look at a whole range of things around planning, around permitting, around construction time [and] construction cost." Mr Willox welcomed comments by Treasurer Jim Chalmers that productivity would be a focus for the Albanese government's second term. After the election, Mr Chalmers had said the economic priority of the second term would be "primarily productivity without forgetting inflation", inverting the priorities of the first term. New Environment Minister Murray Watt told the ABC this week reforming environment approval laws was one of his "highest priorities … Current environmental laws aren't working for the environment and they're not working for business." Mr Willox said productivity was "a very core message", including in the energy space. "We're really interested in what the government is saying it will do with Murray Watt in the environment portfolio, to see how we can unshackle [the approvals process] to allow the build to occur… "We have to get the social licence in place, the approvals, the permitting, and we've got to build it … Or else we're not going to achieve our targets. We're not going to achieve a 2030 target, let alone a 2035 target or a 2050 target."
Sky News AU
04-05-2025
- Business
- Sky News AU
Labor faces ‘immense challenges' ahead following historic win in the 2025 federal election
Australian Industry Group CEO Innes Willox claims the Albanese government has 'immense challenges' ahead following Labor's major win in the federal election. 'This election result hasn't magicked away the problems and challenges and issues that Australia faces as we try and struggle to become more prosperous,' Mr Willox told Sky News Business Editor Ross Greenwood. 'The government has immense challenges ahead; they were elected very clearly, and they deserve congratulations for that election but now the hard work begins.'
Yahoo
17-04-2025
- Business
- Yahoo
Pay rise coming for half a million Aussies after 'landmark' ruling: 'Up to 35 per cent'
More than half a million Australians working in female-dominated industries are in line for pay rises following a 'landmark' ruling by the Fair Work Commission. Pay rises of up to 35 per cent have been recommended to try to fix gendered pay imbalances. The Fair Work Commission found workers covered by five awards, including childcare workers, health professionals, dental assistants and pathology collectors, had been the subject of 'gender-based undervaluation' and should receive pay rises. The 'game-changing' ruling would see pharmacists receive a 14.1 per cent pay rise over the next three years, starting from June 30, 2025. Workers covered by the remaining four awards would have their exact pay rises determined at a later date. RELATED Tax tricks the rich use to save $71,172 that ordinary Aussies can learn from: 'Can and do work' ATO warning for every Aussie who plays lottery after $70 million Oz Lotto jackpot $6,000 superannuation cash boost for Aussie workers as retirement 'drain' halted However, the Commission has proposed phased pay rises of up to 35 per cent for some health professionals, 27.8 per cent for early childhood workers, and up to 10.9 per cent for pathology collectors. The Australian Council of Trade Unions (ACTU) said the changes would directly increase the wages of 175,000 workers paid under the awards and indirectly help 335,000 whose wages were underpinned by the awards. 'Unions welcome [the] landmark ruling by the Fair Work Commission, which recognises that working Australians should not be undervalued and underpaid because of their gender,' ACTU President Michele O'Neil said. 'For too long, jobs where the majority of workers are women have been paid less. 'Discounting women's work has contributed to the gender pay gap and worsened cost-of-living pressures for households.' While it's a win for workers, business groups have said it would present difficulties for employers. Australian Industry Group chief executive Innes Willox said the decision would have a 'profound impact on employers' and many would struggle to meet the increased costs. "If the provisional views are maintained, there will be a dramatic increase in costs for affected employers, many of which are small not-for-profit organisations in mostly government-funded sectors that lack any capacity to meet additional costs,' he said. The Fair Work Commission noted there was the possibility parents could face higher childcare costs if the government doesn't commit to funding further pay increases. The government has committed to delivering a 15 per cent increase for early childhood education and care workers, with $3.6 billion in funding set aside. The decision followed amendments made to the Fair Work Act by the Albanese government in late 2022, known as the Secure Jobs, Better Pay Act. The laws added gender equality as an objective of the Fair Work Act and allowed the Commission to order wage increases for workers for jobs that had been undervalued on the basis of in to access your portfolio
Yahoo
26-03-2025
- Business
- Yahoo
ATO warning as $20,000 tax break scrapped: ‘Alarming'
The popular $20,000 instant asset write-off scheme has not been extended for another year in the Federal Budget. Experts said it will come as a huge hit for Aussie small businesses and means they only have 'limited opportunity' to take advantage of the Australian Taxation Office (ATO) tax break. The instant asset write-off limit was temporarily increased from $1,000 to $20,000 over the last two budgets, however, the measure had not yet become law. The boost allowed small businesses to deduct the full cost of eligible assets costing less than $20,000. H&R Block director of tax communications Mark Chapman said it was 'unexpected bad news' for small businesses. RELATED All the cost-of-living relief in the 2025 federal budget as millions of Aussies cash in Centrelink win for 460,000 pensioners in $450 million federal budget move Centrelink blow for millions on JobSeeker, Age Pension as federal budget denies cash boost 'The instant asset write-off is ending at its current level on 30 June 2025 and will revert to $1,000 from 1 July 2025,' he said. 'This means that small businesses have a very limited opportunity to take advantage over the next three months, assuming the government can get its $20,000 threshold through Parliament.' Australian Industry Group chief executive Innes Willox said the failure to continue the instant asset write-off scheme in the budget was 'alarming'.'The instant asset write-off program operating now has still not been legislated and the uncertainty this causes, as well as new concerns about its future, create significant uncertainty for businesses,' he said. Australian Chamber of Commerce and Industry CEO Andrew McKellar has argued the extension should be legislated permanently. 'The instant asset write-off could help to underpin investment and productivity in the small business sector,' he said. 'It should be made a permanent feature of the tax system for investments worth up to $50,000 and available to businesses with an annual turnover of up to $50 million.' Businesses can use the instant asset write-off to claim an immediate deduction for the cost of an asset, rather than depreciate them over time. The boosted $20,000 threshold applied to small businesses with an annual turnover of $10 million for assets first used or installed ready to use between July 1, 2024 and June 30, 2025. The proposed $20,000 limit applied on a per asset basis, so small businesses could instantly write off multiple assets. The $20,000 boost was not yet legislated for the current financial year. The budget included an extension of the energy bill relief scheme for households and around one million small businesses. From July 1, a further $150 energy bill rebate will be automatically applied to electricity bills in quarterly $75 instalments. This will extend the scheme until the end of the year. Workers will also receive additional tax cuts in 2026 and 2027, with the tax rate for the lowest tax bracket to be cut from 16 to 14 per cent. Those on the average income of $79,000, will see an additional tax cut of $268 per year when the rate is 15 per cent in 2026 and $536 a year when the rate is 14 per cent. The government has also flagged abolishing non-compete clauses for workers earning less than $175, in to access your portfolio
