AREEA has ramped up its push for bipartisan support of ‘Project Life Greenfields Agreements’, a crucial industrial relations reform that will create jobs and economic growth by stimulating investment in the resources, energy and infrastructure sectors.
The proposed greenfields changes, which failed to pass through Parliament in March, would allow for greenfields agreements on major resources, energy and infrastructure projects to have a maximum in-term duration of six years, two years greater than the current maximum of four.
Projects with construction-phase capital value of $500 million or more would be automatically eligible for the extended agreement terms, a recommendation made in multiple previous reviews of the international competitiveness of Australia’s IR system.
AREEA is now calling on the Federal Opposition to support the changes as the government considers re-prosecuting these proposed reforms.
In this story featured in The Australian newspaper last Tuesday (13 July 2021), AREEA Chief Executive Steve Knott explains why both sides of politics should support the changes to encourage the next wave of major project investment opportunities at Australia’s fingertips.
“This is a significant sovereign risk issue at the heart of our nation’s ability to attract billions of dollars in new major project capital,” he said.
“… Industry executives have committed to paying annual wage increases at least in line with the upper expectations for the market.”
Attorney-General Michaelia Cash also welcomed the push and said industry was “putting the interests of their workers ahead of politics”.
She said 108 minerals projects across Australia were in the pre-feasibility or feasibility stage, with a combined value of $47bn, generating 30,000 construction jobs and 21,000 ongoing jobs.
“If a big project goes begging in Australia, Labor can only blame themselves for lost jobs and investment,” she said.
AREEA’s advocacy follows the employer group leading a coalition of Australia’s most influential employer organisations urging the Morrison Government to revisit important industrial relations (IR) reforms within this parliamentary term (see related article).
Members seeking more background information on greenfields agreements should refer to AREEA’s comprehensive 2019 submission on the matter.
For further information or to get involved with AREEA’s IR advocacy activities, contact [email protected].
