Will FIRB take a Toll?
Japan Postal Holdings’ $6.5-billion bid for Toll Holdings has won the backing of the board, but must pass further regulatory tests before the takeover is approved.
Under Australia’s foreign investment controls, bids of this nature are referred to the Foreign Investment Review Board (FIRB) for consideration and recommendation by the Australian Treasurer.
Yesterday, James McGarvey explained the FIRB process and the likely outcome of the Toll takeover bid.
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Short stays here to stay? Minister launches panel inquiry
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Melbourne is the latest in a growing list of major international cities to grapple with issues surrounding 'short stay' rentals and its market-changing behemoth, Airbnb.
Tensions over raucous and sometimes violent parties in Southbank and Docklands apartment buildings yesterday prompted Minister for Consumer Affairs Jane Garrett to announce a seven-person expert panel to investigate the problem.
Regulators, hoteliers and travelers will be watching the panel's progress with keen interest in the coming months.
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Regional capitals win historic Senate Inquiry
Last week, the Senate voted to refer for inquiry the contribution and future role of regional capitals in Australia to the Rural and Regional Affairs and Transport Committee.
Over the past 12 months The Agenda Group and our partner Collective Position have worked along side Regional Capitals Australia to raise federal MPs' awareness of the opportunity and growth potential in Australia's 48 regional capitals, the home of almost 4 million Australians.
The motion to commence the inquiry was moved by Senator Peter Whish-Wilson. Senator Whish-Wilson said of the Inquiry, “In this parliament we spend a lot of time developing policy for big cities and quite a bit of time on rural policies, especially relating to agriculture, but we spend no time at all on the special needs of the unique middle-sized cities dotted around our country... The Inquiry will investigate what policies governments could pursue to help these cities thrive and relieve some of the pressure on the larger metropolises."
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Getting serious about promoting density
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Selling the benefits of greater housing density is no easy task whether you are a planner, developer or a state government. Yet never has the need been greater in the face of Australia’s rising population, the infrastructure backlog and the impact of climate change. Planning for burgeoning population is at the front of our federal politicians' minds ahead of the release of the fifth Intergenerational Report in the next few weeks.
Rachel Dapiran, adviser to two Victorian premiers, explains the key steps needed to begin the vital national conversation about density and population.
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What's next for VCEC?
The Victorian Competition and Efficiency Commission describes itself as ‘the Victorian Government's foremost advisory body on business regulation reform and opportunities for improving Victoria's competitive position,’ at a state level, something of a cross between the ACCC and the Productivity Commission.
Established by the Bracks Government in 2004, previous Labor Governments made use of VCEC across a range of fronts. Inquiries were held into areas as diverse as regional development, regulation of the housing and construction sector, and a review of Melbourne’s metropolitan water retailers.
The Coalition Government also kept VCEC busy, with inquiries into problem gambling, the school system and the feed-in tariff program, but never released the final report commissioned in the early months of the Baillieu Government into a state-based reform agenda.
Given the employment challenges facing Victoria and the strong jobs focus of the new Andrews Government, it’s likely VCEC will play a prominent role in shaping the final form of the productivity and employment policies in these first few months following the November election.
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