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Welcome to QETA Newsletter 21 2012.
QETA NEWS
1. QETA SPECIAL AND ANNUAL MEETINGS:
The Special General Meeting of QETA will be held on Wednesday 21st November 2012 at 4.30pm at Hotel Diana, 12 Annerley Rd,
Woolloongabba. The purpose is to accept changes to the Constitution (previously circulated by email to all members). This will
be followed immediately by the Annual General Meeting, the purpose of which is to hear the President’s Report, examine the
Financial Report and the Auditor’s Report, and elect office bearers for 2012-13.
If you are planning on attending, please email [email protected] for catering purposes.
If you are unable to attend, please consider giving your proxy vote to a member who is attending (we suggest one of the
Management Committee). This enables us to reach a quorum in the event of insufficient members attending in person. Proxy
vote forms were emailed to everyone ealier this term, or can be downloaded from our website www.qeta.com.au.
There are vacancies on the Management Committee for 2012/13. If you would be interested in nominating for a
position, please let the President [email protected] know and he will arrange details.
2. 2013 DATES
The 2013 QETA Calendar is as follows:
February 25
RBA Seminar
11am
Brisbane Grammar School
RBA Seminar
4 pm
Brisbane Girls Grammar School
February 26
RBA Seminar
9 am
Toowoomba Grammar School
February 27
RBA Seminar
10 am
Somerset College, Gold Coast
February 28
RBA Seminar `
7 am
Cavendish Road State High School
February 28
RBA Seminar
9.30 am
Marist College Ashgrove
February 28
QETA Memberships Due
March 30
Econopak Number 1 Published
May 11
QETA Professional Learning 9am – 1pm Queensland Law Society
May 30
Econopak Number 2 Published
July 18
UQ Student Day
10 am – 2 pm St. Lucia Campus
July 19
QUT Student Day
10 am – 2 pm QUT Gardens Point
July 22-26
UQ Student Economics Competition
July 22-26
Economics Week
August 30
Econopak Number 3 Published
September 16 UQ Competition Presentation
November 20 QETA Annual General Meeting
3. QETA NEW WEBSITE: In the near future, QETA will have a new website using the same URL. If you want to save any items
currently on the website, you need to do so now, as many will be removed from the new site. The new site gives us several
advantages – all event registration will be done through the new site, membership will become automated, and all newsletters
and emails will come from the new site. Schools will be able to manage their profiles themselves and change details when
necessary.
To complete the changeover, there will be a few days where the site will be “down” and unavailable. We apologise for this in
advance.
TEACHING RESOURCE
FROM GLOBAL EDUCATION
Teaching sequences
Three new teaching sequences have been added to the website:
Disasters: Consequences and responses (year 7-8, geography)
Students examine characteristics of hazards, disasters and the emergency responses. They learn how a hazard becomes a
disaster and how disaster preparedness can reduce the impact of the hazard.
www.globaleducation.edu.au/teaching-activity/disasters-consequences-and-responses.html
The power of food (year 9-10, geography)
Students examine maps and analyse information to identify ways of creating sustainable food security for all.
www.globaleducation.edu.au/teaching-activity/the-power-of-food.html
Working for a fairer world (year 9-10, geography)
Students compare and contrast access to human rights in a number of countries and evaluate activities that seek to improve
access to human rights.
www.globaleducation.edu.au/teaching-activity/working-for-a-fairer-world.html
PROFESSIONAL LEARNING
Global Futures: A View from the Edge.
Professor Sandra Harding, VC of the James Cook University and QLD Australian College of Educators' Medallist, is speaking on
the timely and pertinent topic:
Global Futures: A View from the Edge.
When
Where
Cost
Contact
Friday 2 November 2011, 5.30-8.00pm (with refreshments on arrival)
Ground Floor, Edmund Rice Theatre, Cnr Quarry and Water Streets, Spring Hill, Brisbane
Members $27, Non-members $32
Meaghan Flynn, Member Services & Events Manager
Email: [email protected]
Ph: 1 800 208 586
Bluelight Revealing Leadership across Cultures, Bangkok 2013
From 7 -13 July 2013, The Asia-Pacific Centre for Leadership and Change at the Hong Kong Institute of Education in conjunction
with the Asia Education Foundation will deliver an intensive program at the College of Management, Mahidol University, Bangkok
that will provide deep-dive learning sessions for educational leaders wishing to focus on new information and research.
This program will provide the opportunity to network with other educational leaders who have spent most of their professional
careers in Southeast and East Asia, but retain a solid understanding of education in Western countries. Work with educators
leading ‘local’ and international schools in Asia.
Read more about the opportunity at: www.asiaeducation.edu.au/studyprograms
RESOURCES
1. CIVICS AND CITIZENSHIP SHAPE PAPER
ACARA has released the latest Shape of the Australian Curriculum: Civics and Citizenship (which includes legal education). Click
here for more info
2. FROM THE FEDERAL TREASURY
Treasurer's economic note
Governments around the world and at all levels are having to make do with less. The toughest conditions in the global economy
in generations have cut a swathe through traditional sources of revenue.
Read more
Press conference, Canberra
The Treasurer discusses the Mid-Year Economic and Fiscal Outlook 2012-13.
Read more
Mid-Year Economic and Fiscal Outlook 2012-13
The 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO) released today shows the fundamentals of the Australian economy
remain strong, with the budget returning to surplus this financial year as scheduled, despite worsening global conditions cutting
almost $22 billion from tax receipts.
Read more
Consumer Price Index - September Quarter 2012
Today's Consumer Price Index (CPI) data shows both headline and underlying inflation remain well contained within the RBA's 23 per cent target band, and are consistent with Treasury's estimate of the carbon price impact.
Read more
Interview with Leigh Sales
The Treasurer discusses MYEFO 2012-13 with Leigh Sales.
Read more
The Asian Century - An Australian Opportunity
With Asia set to become the world's largest economic region before the end of this decade, the Asian century offers our nation
immense opportunities.
Read more
Lifting Prosperity in the Asian Century: A Five Pillar Productivity Platform
The Gillard Government is setting an ambitious goal for Australia in the Asian Century White Paper of breaking into the world's
top ten in GDP per person by 2025, with a nation-wide effort to boost our productivity growth.
Read more
'Australia and China in the Asian Century'
The Treasurer's address to the 2012 China Advanced Leadership Program Australia New Zealand School of Government.
Read more
Fiscal choices and federal financial relations
Nigel Ray, Acting Secretary to the Treasury, gave a presentation 2012 Economic and Social Outlook conference today. A
transcript of the presentation is now available on the Treasury website.
Treasury Annual Report 2011-12
The Treasury Annual Report 2011-12 outlines performance against outcomes, programs and performance information contained
in the Portfolio Budget Statements 2011-12, Portfolio Additional Estimates Statements 2011-12 and Portfolio Supplementary
Additional Estimates Statements 2011-12.
The 2011-12 annual report includes the reporting requirements and financial accounts for the Australian Government Actuary.
The financial accounts for the Foreign Investment Review Board and Takeovers Panel are also included in this report, along with
limited performance reporting. More comprehensive performance reporting may be found in their respective annual reports.
Read more
3. FROM THE ABS
6401.0 Consumer Price Index, Australia (Media Release), Sep 2012
http://www.abs.gov.au/ausstats/[email protected]/MediaRealesesByCatalogue/902A92E190C24630CA2573220079CCD9?OpenDocument
6401.0 Consumer Price Index, Australia, Sep 2012
http://www.abs.gov.au/ausstats/[email protected]/mf/6401.0?OpenDocument
3301.0 Births, Australia, 2011
http://www.abs.gov.au/ausstats/[email protected]/mf/3301.0?OpenDocument
3413.0 Migrant Statistics News, Oct 2012
http://www.abs.gov.au/ausstats/[email protected]/mf/3413.0?OpenDocument
6427.0.55.006 Producer Price Indexes Weighting Patterns, 2012 (Replacement Content)
http://www.abs.gov.au/ausstats/[email protected]/mf/6427.0.55.006?OpenDocument
8731.0 Dwelling approvals rise in September (Media Release), September 2012
http://www.abs.gov.au/ausstats/[email protected]/MediaRealesesByCatalogue/8F919D91E9992461CA2568A9001362B8?OpenDocument
6467.0 Selected Living Cost Indexes, Australia, Sep 2012
http://www.abs.gov.au/ausstats/[email protected]/mf/6467.0?OpenDocument
8731.0 Building Approvals, Australia, September 2012
http://www.abs.gov.au/ausstats/[email protected]/mf/8731.0?OpenDocument
6457.0 International Trade Price Indexes, Australia, Sep 2012
http://www.abs.gov.au/ausstats/[email protected]/mf/6457.0?OpenDocument
4. FROM TUTOR2U
New AS Economics Revision Notes
We've just uploaded an updated and extended collection of revision notes designed to support students taking AS Economics
specifications. You can view a complete list of these from here:
http://www.tutor2u.net/blog/index.php/economics/comments/as-economics-revision-notes
We'll be working on extending and upgrading the A2 revision notes over the next 7-10 days, followed by an update to the
Economics revision presentations that we stream via the website and blog.
5. FROM BUSINESS COUNCIL OF AUSTRALIA
Statements regarding the Mid-Year Economic and Fiscal Outlook
22 October 2012
The Business Council of Australia has issued two statements regarding the Mid-Year Economic and Fiscal Outlook (MYEFO),
which was released by the federal government today.
In a statement issued yesterday, BCA President Tony Shepherd urged the federal government to focus on growth and outline a
credible fiscal strategy rather than delivering a surplus at any cost. Read the statement at:
http://www.bca.com.au/Content/102046.aspx
In a statement issued today, BCA Chief Executive Jennifer Westacott says that the MYEFO reinforces the need for the
government to outline a coherent medium-term fiscal strategy by next year’s Budget. Read the statement at:
http://www.bca.com.au/Content/102049.aspx
6. FROM RBA
A speech delivered by Dr Luci Ellis to the CPA Australia Finance and Accounting Expo 2012 in Sydney is available on the
Reserve Bank website.
http://www.rba.gov.au/speeches/2012/sp-so-241012.html
A speech delivered by Dr Philip Lowe to the Commonwealth Bank Australasian Fixed Income Conference Dinner in
Sydney is available on the Reserve Bank website.
http://www.rba.gov.au/speeches/2012/sp-dg-301012.html
For your information the Reserve Bank of Australia issued the Financial Aggregates for September 2012. You can view this
statistical release at:
http://www.rba.gov.au/statistics/frequency/fin-agg/2012/fin-agg-0912.html
For your information the Reserve Bank of Australia issued the Index of Commodity Prices for October 2012. You can view
this statistical release at:
http://www.rba.gov.au/statistics/frequency/commodity-prices/2012/icp-1012.html
7. FROM WORLD BANK
Entrepreneurship Becoming
Easier Around the World
Local entrepreneurs in developing countries are finding
it easier to do business than at any time in the last 10
years, a new report finds.
Full Report: Doing Business 2013
Video | Infographic | Release
8. FROM WORLS ECONOMIC FORUM
Slow Progress in Closing Global Economic Gender Gap, New Major Study Finds

Eighty-two out of 132 countries improved their economic equality between 2011 and 2012

Of the top four global economies, USA, Japan and Germany improved their economic gender gap in 2012; China
declines slightly

Iceland, Finland, Norway and Sweden have closed their gender gaps by over 80%, but globally only 60% of the global
economic gender gap has been closed

Download the full report covering 135 economies, rankings, video, infographics and more at www.weforum.org/gender
New York, USA, 24 October 2012 – The seventh annual World Economic Forum Global Gender Gap Report 2012 ranks Nordic
countries in top spots, with Iceland, Finland, Norway and Sweden having closed over 80% of their gender gaps. At the bottom
of the ranking, some countries still need to close gender gaps of almost 50%, while more than half of those countries surveyed
have failed to close their economic gender gap by more than 5% in the past seven years.
For the full release and supporting information, please visit:
http://www.weforum.org/nr_gender2012
9. FROM THE IMF
Working Paper No. 12/253: The Differential Effects of Oil Demand and Supply Shocks on the Global Economy
Author/Editor: Cashin, Paul ; Mohaddes, Kamiar ; Raissi, Mehdi ; Raissi, Maziar Summary: We employ a set of sign restrictions
on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2–
2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and to study the time profile of their
macroeconomic effects for different countries. The results indicate that the economic consequences of a supply-driven oil-price
shock are very different from those of an oil-demand shock driven by global economic activity, and vary for oil-importing
countries compared to energy exporters. While oil importers typically face a long-lived fall in economic activity in response to a
supply-driven surge in oil prices, the impact is positive for energy-exporting countries that possess large proven oil/gas reserves.
However, in response to an oil-demand disturbance, almost all countries in our sample experience long-run inflationary
pressures and a short-run increase in real output.
http://www.imf.org/external/pubs/cat/longres.aspx?sk=40062.0
Global Financial Sector Reform: An Unfinished Agenda by Christine Lagarde, Managing Director, International Monetary
Fund
http://www.imf.org/external/np/speeches/2012/102512.htm
10. FROM TUTOR2U
Creative Ideas for the Engaged Classroom
Our Give It A Go! Blog is designed to provide teaching colleagues with suggestions for activities and approaches which can help
improve the effectiveness of learning.
We've been busy recruiting colleagues who are happy to share some examples of what has worked really well for them in the
classroom this term.
For example, Vanessa McGowan has outlined an example of the way in which she has been able to get students to engage more
effectively with her feedback on their marked work:
http://www.tutor2u.net/blog/index.php/giveitago/comments/my-favourite-way-to-give-feedback-to-students
Graham Prior and his team are doing a lot of research and development into the concept of "bellwork" - basically stuff students
can do straightaway as they arrive for the lesson. One example of this which Graham has described on the blog is an approach
called "equation":
http://www.tutor2u.net/blog/index.php/giveitago/comments/bellwork-activity-equation
The Give It A Go! Blog is there to allow teachers with a passion for teaching and learning to share their ideas. We'd love for you
to get involved - and perhaps encourage like-minded colleagues at your school or college to share their ideas too!
11. AUSTRALIA IN THE ASIAN CENTURY WHITE PAPER LAUNCHED BY JULIA GILLARD, PM
Yesterday, the Prime Minister, Julia Gillard launched the Australia in the Asian Century White Paper.
The White Paper sets out a strategic framework to guide Australia’s navigation through, and engagement in, the Asian Century.
It sets out new aspirations for Australian schools and students and therefore has policy implications for schooling in this country.
The White Paper (Chapter 6 - Building Capabilities) argues that to achieve the level of educational performance needed in this
century Australia needs a schooling system that delivers excellent outcomes for all students from all backgrounds. In particular,
the White Paper contains objectives that seek to build greater levels of Asia literacy in schools. They include:
·
Every Australian student will have significant exposure to studies of Asia across the curriculum to increase their cultural
knowledge and skills and enable them to be active in the region.
·
All students will have the opportunity, and be encouraged, to undertake a continuous course of study in an Asian
Language throughout their years of schooling.
·
All Australian schools will be linked to a school in Asia to support Asian languages studies and to forge life shaping
people to people friendships with young people in China, Indonesia, India, Japan, Korea, Thailand and across the region.
·
All Australians students will have the opportunity to undertake a continuous course of Asian language study from Year 1
to Year 12 with priority on Chinese, Japanese, Indonesian and Hindi.
The White Paper’s school education objectives will be written into the upcoming National Plan for School Improvement. This
plan is the Federal Government’s response to the Gonski review on school funding.
Importantly progress will be tracked – we haven’t had commitment to do that before – to know how our children are going in
terms of their Asia knowledge and skills. This means that the Asia and Australia’s engagement with Asia cross curriculum priority
in the new Australian Curriculum cannot be optional or left out in some schools. Asia capabilities are core learning for every
Australian school student.
The White Paper has immense implications for the Australian school education, requiring all education jurisdictions at all levels,
state and federal, to develop detailed strategies for the studies of Asia to become a core part of school education at every level.
Our recent experience clearly demonstrates that there is no short term fix for Australian schooling to be able to achieve Asia
capabilities for all young Australians.
If we lose the White Paper’s momentum to equip our young people to navigate the Asian century, then we do so at our peril..
and at the peril of every young person in this country.
You are encouraged to read the White Paper and to consider how Governments, schools, business and communities can work
together to help Australia become more Asia literate and develop the cultural knowledge and skills to succeed in the Asian
Century.
To read the White Paper and to find out more, please go to: http://www.asiaeducation.edu.au/whitepaper
12. PWC MELBOURNE INSTITUTE ASIALINK INDEX
The 2012 PwC Melbourne Institute Asialink Index is the first multi-indicator measure of engagement between Australia
and Asia. The Index measures engagement over the period 1990-2011, analysing both the level and rate of change across
seven components and 25 economies.
Use facts and information from the Index in your History, Mathematics or Economics classrooms. The dedicated website features
full Index components - all easily accessible from desktop machine, iPad, iPhone or Android.
Access the Index via the hyperlink on the AEF web portal: www.asiaeducation.edu.au
13. BUSINESS COUNCIL OF AUSTRALIA
Asian Strategy a Sound Platform for Enduring Prosperity
29 October 2012
The Business Council of Australia issued a media statement yesterday responding to the federal government’s Australia in the
Asian Century White Paper.
In the statement, BCA Chief Executive Jennifer Westacott welcomed the white paper’s focus on lifting Australia’s competitiveness
and productivity and accelerating more effective engagement within our region.
“The white paper has the potential to be an important road map for a more prosperous and resilient future by considering
Australia’s long-term economic potential firmly in the context of our proximity to the world’s growth region,” she said.
The full BCA statement can be read at:
http://www.bca.com.au/Content/102052.aspx
14. AUSTRALIAN HUMAN RIGHTS COMMISSION
The Commission’s rightsED resources are designed to introduce students to human rights concepts in an engaging, relevant
way. They develop literacy and numeracy skills in a range of learning areas. Topics include human rights, child rights, disability
rights, Indigenous rights and race and diversity. They are suitable for year 5 and above.
www.humanrights.gov.au/education/rightsED.html
15. GO BACK TO WHERE YOU CAME FROM (SERIES 2)
This website offers a set of interactive tutorials and notes that enables students and teachers to interact with the content of the
two Go Back to Where You Came From series. There are student activities, supported by teacher notes with background
information, facts and statistics on refugee issues in Australia. The resource was created by Amnesty International, The Refugee
Council of Australia and SBS, and is suitable for middle and upper secondary students.
www.sbs.com.au/goback/schools
16. RACISM. NO WAY!
The Racism. No way! website assists school communities to recognise and address racism in the learning environment. The site
includes materials for teachers and students that can be viewed by learning areas, theme, age or resource type.
www.racismnoway.com.au
17. FROM WORLD BANK
The World Bank Data Viz Tumblr is tracking the fight against poverty by sharing and highlighting some of the best developmentrelated data visualizations.
18. CEO PULSE: CHINA SLOWDOWN HURTING AUSTRALIAN ECONOMY
Published 6:33 AM, 23 Oct 2012 The Business Spectator
By a staff reporter
A clear majority of Australia’s top chief executives expect the economic slowdown in China to have a large negative impact on
the Australian economy, particularly in the next 12 to 24 months, and the expectation of an increase in their own companies’
profit has dropped significantly.
The latest Business Spectator GA Research CEO Pulse Survey shows 83 per cent of 105 surveyed chief executives – who run
companies with an Australian turnover of $100 million or more – believe the slowdown in China’s economy is currently having a
negative impact on the Australian economy as a whole, with 93 per cent expecting this impact to ramp up in 12 to 24 months.
Many CEOs feel the reduction in commodity exports combined with lower prices will impact the mining industry in Australia, and
that this will have a flow on effect on the rest of the economy.
One CEO said, “As China’s economy slows, there will be less commodities exported from Australia (lower volume and lower
price) … a slowdown will impact the mining sector which in turns results in a slowdown in the broader economy”, while others
said that Australia has not taken full advantage of the mining boom in recent years.
One CEO said, “The fact is that we need to be internally innovative and not rely on the China growth as a simple means to grow
… too much reliance on mineral exports and not enough emphasis on growing expertise in Australia”.
Another noted, “China's boom is slowing and the current federal government’s tax policy is an extra slug on the jobs and capital
growth in the resources and related sectors”.
Proportion of CEOs expecting increased profit drops sharply
The proportion of CEOs expecting increased profit over the next 12 months is down significantly to 49 per cent from 64 per cent
last quarter.
Expectations around employment, capital investment, profit, sales and operating expenditure in the next 12 months are down
slightly from last quarter.
CEOs more optimistic on the economy
Despite the negative outlook for their own organistation, it is far more optimistic than CEO prospects for the Australian economy
as a whole.
In terms of prospects for the Australian economy in the next 12 months, 57 per cent of chief executives are pessimistic, up from
50 per cent at the same time last year.
CEO’s scorecard for the government’s performance in managing the economy is steady at 2.9 out of 10. While the longer-term
trend is downwards, it is not significantly different from the score given at the same time last year.
In Australia’s interest to encourage more Chinese capital investment
Surveyed CEOs were asked if they thought it is in Australia’s national interest to encourage more or less Chinese capital
investment in a list of areas.
Around two thirds said it is in our interest to encourage more Chinese capital investment in: the Australian economy in general
(65 per cent), the Australian manufacturing sector (65 per cent) and the Australian infrastructure (63 per cent).
More than half (57 per cent) also said it is in the country’s interests to encourage more Chinese capital investment in the
Australian mining sector.
Less than half of CEOs said we should encourage more investment in Australian agricultural production assets (41 per cent) and
the rest of the Agricultural industry (42 per cent). However, on balance, there was more support than opposition (31 per cent)
for foreign investment in this area.
Advice to Chinese President Hu Jintao and his likely successor Vice President Xi Jinping
When asked what advice they would give the current Chinese Premier Hu Jintao and his likely successor Vice President Xi
Jinping, surveyed CEOs expressed strong support for China and Australia working together to build an open and honest longterm relationship that will be mutually beneficial for both countries.
One CEO said, “The partnership makes sense. We need people and consumers, they need raw materials. It's a great match”.
While another noted: “Focus on a sustainable long term partnership with Australia and not look for short term wins.”
Many suggested that China focus on developing partnerships with Australian companies in a broad range of sectors and
industries and be sensitive to Australians concerns about ownership and control, particularly in the agricultural sector.
“Focus on partnerships with domestic Australian businesses with a view to investing in new infrastructure rather than just
acquiring existing businesses,” one CEO said.
“Look to invest in Australia without the need to own all assets. Be more prepared for partnerships,” another noted.
Research design and analysis for the CEO Pulse survey was conducted by GA Research and fieldwork by AFS. The sample
comprised 105 CEOs of organisations with an Australian turnover of $100 million or more who opted to participate in a five
minute survey conducted over the phone or online between Tuesday 9 October 2012 and Friday 19 October 2012.
19. THE DISTILLERY: Asian angles
Published 7:18 AM, 29 Oct 2012 The Business Spectator
At long last, the Gillard government has unveiled its white paper, Australia in the Asian Century. The paper lists 25 objectives for
Australia to achieve by 2025 in the context of increased engagement with our growing Asian neighbours. While the complexity
of the document and its implications will be poured over for weeks, if not months, this morning some business commentators
have offered their initial impressions on this crucial government document, as well as its political backstory and its economic
implications.
Fairfax’s Daniel Flitton makes the astute observation that the very same day that the government unveils the white paper
Australia in an Asian Century, a terrorist plot near our embassy in Jakarta and another boat of asylum seekers has arrived.
“When Australian's look north, the threats have traditionally loomed much larger than the opportunities. This white paper is a
brave attempt to escape that mindset, long on ambition and with hopeful goals. Think of it as an attempt to shock Australia out
of complacency.”
The Australian’s Andrew Burrell reports that some mining industry leaders are arguing that the white paper fails to address some
of the most crucial issues that Australia needs to deal with when it comes to engagement with Asia; particularly, our stance on
investment from state-owned enterprises in China.
“A former Fortescue Metals Group executive and former head of the Confucius Institute, Philip Kirchlechner, said although the
white paper had acknowledged the importance of the industry, it had failed to address the negative public sentiment
surrounding investment from Chinese state-owned companies. The document reasserts the federal government's policy that
investments by state-owned enterprises will be screened regardless of value.
The Australian’s Glenda Korporaal reports that the thrust of the white paper should absolutely be applauded:
“But after so much build-up to the second Henry report, there is a slight air of disappointment about the lack of specific
programs for action. Exactly where is the beef? What are the steps we need to take to achieve our goal of boosting trade with
Asia from 25 to 33 per cent of GDP by 2025? There are lots of important graphs and tables making the case about the future
rise of Asia. But much of the report restates measures the government already has in place. Strip away the things we already
know and there is only a small range of initiatives in the report, some of them more aspirational goals than action plans.
The Australian’s Richard Gluyas passes on the belief of the Financial Services Council that the government “urgently” move on
the Johnson report that seeks to promote Australia as a financial hub because it’s in step with the goals of the white paper.
In other news, Fairfax’s Michael West tells the seemingly unbelievable story of a liquidator spending $500,000 chasing down a
$28,000 debt for an Adelaide business that went bust. He also has a killer way of describing it.
“Welcome to the Dead Zone, the land of liquidations, administrations and receiverships, where bounty-hunters roam the
apocalyptic landscape preying on the dying and the wounded.”
Meanwhile, Fairfax’s Ross Gittins has a crack at commentators arguing that the government is trying to get the budget back into
surplus for purely political reasons.
The Australian’s economics editor David Uren says the Reserve Bank might be concerned about the economic forecasts of the
Treasury, but it’s under no pressure to cut rates on Melbourne Cup day.
The Australian’s Paul Garvey says Fortescue Metals Group’s annual general meeting and site visit in the Pilbara would have gone
down a treat, but investors could still be a little perturbed about the apparent application to secure some royalty relief from the
Western Australian government.
And finally, The Australian’s Barry Fitzgerald says the mining tax has turned out to be “much ado about nothing”…quite.
WEBSITE
Teaching Resources for High School Economics
Doug Cave
QETA President
[email protected]
http://www.qeta.com.au
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