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Increasing Job Creation and Economic Growth

Question:

Discuss about the Politics and Government for Turnbull Government.

The Australia Politics has seen many Prime Ministers come and go in the recent years. All of these governments have been able to accomplish something or the other for the country. The Turnbull Government is the name provided to the federal executive government which is under the prime ministership of the 29th Prime Minister of Australia Malcolm Turnbull. The government took charge of the Australian parliament on September 15, 2015. The government comprises of Liberal National Coalition members. The government succeeded the government of ex Prime Minister Abbott which had been elected in 2013 elections. There have been several changes which had been initiated by the Turnbull government. The purpose of the paper is to through light upon the three most significant achievements which the Turnbull government has been able to achieve from its taking charge to the present day. The paper initially highlights the major achievements of the government and then discusses the three most important achievements.

According to The australian.com.au (2018) the Turnbull government is successfully working upon its objective towards a stronger economy and a more secure country. In the time they have been operation there have been various achievements which the government has been able to achieve. As provided by Herald Sun (2018) the Turnbull government has shown strong records in relation to employment growth in the country. Around 403100 Australians have been reported to have found employment. This rate indicates about 1000 newly created jobs every day. This is a record achievement in relation to the number of jobs which have been created in a calendar year. The government has also initiated tax cuts in relation to medium and small enterprises. This has helped 3.2 million businesses who employ around 6.7 people and for the creation of new jobs. The government has also extended the instant Asset Write off which was in use by 30000 small businesses every year so that they can invest in machinery and new equipments. An innovation and science agenda has also been initiated by the government from which 3000 new investments have been made in 300 innovation companies at early stages. The government has taken the initiatives to tackle law less union which includes restoration of ABCC, banning corrupt and secret payments between the unions and business. A new registered organization commission has also been initiated so that unions can be transparent to the public and the members. The governments in order to ensure more reliable and affordable energy is delivered have initiated the National Energy Guarantee as well as have enabled snowy hydro 2.0 which is the largest renewable energy project. Extensive reforms have been made by the government in relation to the competition and consumer law in order to help small businesses and consumers. In order to secure Australia in the 21st century the 2016 defense with paper has been signed by the government. Thousands of ongoing jobs gave also been created through a defense industry plan including the building of 54 ships backing local advanced manufacturing industry. Numerous anti-terror laws have been passed to support the security agencies which are managed by a new Department of Home Affairs (Pm.gov.au 2018). In order to address the loopholes used by multinationals new laws have been initiated which have resulted in raising a tax of $4 Billion.

Reforms in Competition Law


The government has enacted legislation in order to address issues relating to the china-Australia free trade agreement which boosts the capacity of the country in relation to exports and a Free Trade Agreement with Peru. The position of media has also been enhanced by the government through the passing of various laws for bringing the media into digital age as well as ensuring viability of the other local media outlets. The surcharges which were considered to excessive in relation to credit cards have been abolished to provide protection to the consumers. The government has till date invested $75 Billion in relation to an infrastructure which includes rail projects and congestion busting roads across the country. The Bill Shorten’s truck tribunal which was forcing the truck drivers out of business has also been abolished by the Turnbull government. The government has also introduced landmark reforms in relation to providing support to the parents involved in child care which includes the abolishment of $7500 family cap and the introduction of a new Child Care Subsidy.

Thus in the light of all the above discussed achievements the three best achievements which have been selected by the paper include creation of jobs, legislations in the sector is defense and security and reforms in the Australian competition law.

According to Hutchens (2018) the “jobs and growth” slogan  of PM Turnbull has turned into a big outcome. There have been 403000 jobs created in the country by December 2017. The level of participation has reached its Apex in 7 years along with the confidence of the consumers. In addition it has been provided by Michaelia Cash the job and innovation Minister that out of all the jobs created three fourth of the jobs are full time. The government is able to understand that they have to get basics of the economy right and implement appropriate policies so that businesses can grow and prosper and jobs can be created. The government has been able to create an economy through which around 1100 jobs are created everyday and therefore the number of Australians in employment is of a record number. On the other hand the 89000 jobs which had been created by the labour government in the last year were alleged to be mostly part time jobs (news.com.au 2018). Australians have been subjected to stagnant growth in wages, although increase in Jobs have been significant there has been a very slow growth in terms of wages. However it has been provided by the Turnbull government that a strong economy has to be ensured before wage growth can be targeted this can be done by ensuring that jobs are created by businesses which are preferably full time jobs.

Focus on Domestic Security and National Intelligence


Unemployment has been a significant issue in Australia which the turnbull government has been able to address in a very prompt and efficient manner. In the light of growth in the number of jobs wage growth is also around the corner as stated by the Reserve Bank Governor. The government understands that if it is not able to get the basics of the economy correct then the businesses would not be able to grow and prosper and there would be no jobs created without growing businesses. Where there would be less creation of jobs it would be unreasonable to expect growth in wages. The government has ensured that it has got all basics in relation to the economy covered and more fruitful results are waiting for the Australian citizens. However the Turnbull government has been criticized by the opposition stating that the primary issue in 2018 is that of the cost of living pressure (Austin 2018). These criticisms do not have much weight age as it is believed by economic experts that where there has been growth in the number of jobs and businesses it is evidently going to result in a stronger economy and subsequently growth in average wages and reduction in the cost of living (Pm.gov.au 2018). Therefore creation of jobs has been one of the most significant achievements with the Turnbull government has been able to achieve till date.

Another important achievement which has been achieved by the turnbull government is in relation to the significant reforms which have been made in the area of competition law. The Competition and Consumer Amendment Bill 2017 had been passed finally by both the houses of the Parliament on 18th October 2017. The amendments have been done in relation to competition policy and misuse of market power. The passing of the bills indicate the most significant reforms which the Australian competition law has witnessed in last 20 years. The changes have been made as a response to the recommendations which had been made by the Harper competition policy review (Ashurst.com 2018). Through this review impediments had been identified across the economy which prevented competition and decreased productivity.

The primary purpose of the landmark reforms is to make the Competition and Consumer Act 2010 simple and subsequently reducing the burden on businesses and the cost on the economy along with the promotion of pro-competitive behaviour and enhancing adaptation of law with the changing situation. Amendments have been made to the previous definition of competition and it now includes competition from services and goods which have the capacity of importation along with those which are actually imported. The change has made it clear that; relevant to a competition analysis is a credible threat of import competition. Changes have also been made to better target and simplify provisions in relation to cartel conduct. One of the primary changes in relation to this is that Cartel conduct has been confined as a conduct which affects competition in Australian markets. General prohibitions with respect to engagement in specific practices which have the likely effect of lessening competition substantially have been replaced by the price signaling provisions. An anti-competitive conduct which falls short of understanding or contract is aimed to be captured by this provision. Changes have also been introduced which does not any longer prohibit third line forcing per se and rather subject it to a competition test.  This would ensure compliance of Australian law more closely to other overseas jurisdictions like New Zealand, the European Union and US where such conduct is not specifically prohibited. With the new laws as an alternative for seeking authorization and individual or a company will now have the right to inform the Australian Competition and Consumer Commission of any resale price maintenance conduct (Bakermckenzie.com 2018).


In addition the resale price maintenance is not applicable on conduct between related corporations. Covenants through which competition was substantially lessened do not have any complex prohibitions rather contracts listening competition have been provided with general prohibitions. Class exemption powers have been provided by the Australian Competition and Consumer Commission through which it is allowed to exempt a particular conduct or a particular category of conduct in case there is less probability of it raising competition concerns and generating public benefits. Extension in relation to Section 83 of the CCA has been done by the new reforms whereby a party which makes a claim against a person with respect to a specific section of the CCA can now rely on both admissions of facts as well as finding of facts which are made against the person in other proceedings. Competition law was also a major area of concern in relation to the Australian economy which has been attempted to be appropriately and adequately addressed by the Turnbull government. The landmark reforms which have been introduced by the government are set to enhance competition in the Australian economy and provide opportunity for small businesses to prosper (Australiancompetitionlaw.org 2018).

As provided by Hutchens (2018) the primary objective of the PM is to ensure safety of Australian against those who intended to harm them. The government has ensured that it has security and law enforcements bodies which are no less than the best in the world. The government has initiated most significant reforms in relation to Australian domestic security and national intelligence arrangements in a few decades.  The reforms are in relation to restructuring and strengthening of the Australian intelligence community. The government has initiated comprehensive and robust counter-terrorism laws and arrangements to adequately address the threat of terrorism. The functions of the Australian defense force has been extended to give assistance to the states in order to respond to terrorism. This is going to ensure that the defence sector can collaborate with the federal and state police in relation to a terrorist incident. Strong counter-terrorism laws have also been enacted by the government along with significant investment to address the issue of terrorism in the country (Defence.gov.au 2018).

Thus it can be stated that despite of all the challenges which have been faced by the Turnbull government it is continuously striving to meet the expectations of the public and ensure the betterment of the Australian community as a whole.

References

Ashurst.com. (2018). Parliament passes Harper reforms to Competition Law in Australia. [online] Available at: https://www.ashurst.com/en/news-and-insights/legal-updates/competition-law-news-parliament-passes-harper-reforms/ [Accessed 17 Mar. 2018].

Austin, A. (2018). Lies, damned lies and Turnbull's jobs growth statistics. [online] Independent Australia. Available at: https://independentaustralia.net/politics/politics-display/lies-damned-lies-and-turnbulls-jobs-growth-statistics,11131 [Accessed 17 Mar. 2018].

Australiancompetitionlaw.org. (2018). Australian Competition Law | Harper Reforms. [online] Available at: https://www.australiancompetitionlaw.org/hottopics/harperreforms.html [Accessed 17 Mar. 2018].

Bakermckenzie.com. (2018). Australia Welcomes the Most Significant Reform of Competition Law in the Past Two Decades | Insight | Baker McKenzie. [online] Available at: https://www.bakermckenzie.com/en/insight/publications/2017/10/australia-reform-competition-law/ [Accessed 17 Mar. 2018].

Defence & National Security | Prime Minister of Australia. (2018). Pm.gov.au. Retrieved 17 March 2018, from https://www.pm.gov.au/priorities/defence-national-security

Defence.gov.au. (2018). Home : White Paper : Department of Defence. [online] Available at: https://www.defence.gov.au/whitepaper/ [Accessed 17 Mar. 2018].

Herald Sun. (2018). TURNBULL’S TWO YEARS. LET’S COMPARE TO ABBOTT’S. [online] Available at: https://www.heraldsun.com.au/blogs/andrew-bolt/turnbulls-two-years-lets-compare-to-abbotts/news-story/7e318301658a4f39d54b9c901710b484 [Accessed 17 Mar. 2018].

Hutchens, G. (2018). Malcolm Turnbull to give defence force greater powers to respond to terrorism. [online] the Guardian. Available at: https://www.theguardian.com/australia-news/2017/jul/17/malcolm-turnbull-to-give-defence-force-greater-powers-to-respond-to-terrorism [Accessed 17 Mar. 2018].

Hutchens, G. (2018). Turnbull declares 'jobs and growth' a reality as employment surges. [online] the Guardian. Available at: https://www.theguardian.com/business/2017/dec/14/turnbull-declares-jobs-and-growth-a-reality-as-employment-surges [Accessed 17 Mar. 2018].

Myaccount.news.com.au. (2018). Dailytelegraph.com.au | Subscribe to The Daily Telegraph for exclusive stories. [online] Available at: https://myaccount.news.com.au/sites/dailytelegraph/subscribe.html?sourceCode=DTWEB_WRE170_a_GGL&mode=premium&dest=https://www.dailytelegraph.com.au/news/nsw/more-jobs-under-turnbull-than-past-40-years/news-story/8aa24a6cf33ebefef5f6a347360f6a29?memtype=anonymous [Accessed 17 Mar. 2018].

Pm.gov.au. (2018). Business & Employment | Prime Minister of Australia. [online] Available at: https://www.pm.gov.au/priorities/business-employment [Accessed 17 Mar. 2018].

Theaustralian.com.au. (2018). Subscribe to The Australian | Newspaper home delivery, website, iPad, iPhone & Android apps. [online] Available at: https://www.theaustralian.com.au/news/nation/turnbull-hails-record-job-figures/news-story/3e8d9786f7fcf04ddeea1b0f7346befa [Accessed 17 Mar. 2018].

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