Media Releases

"The first NSW Economic Blueprint released today by the NSW Chief Economist, Stephen Walters, and launched by the NSW Treasurer, Dominic Perrottet, is a comprehensive summary of the State’s formidable economic hurdles and a positive outline of the State's many opportunities," Ai Group NSW Head, Mark Goodsell said today.

"Ai Group welcomes reports that the Federal Government will boost infrastructure spending over the next few years. Extra infrastructure work will create new jobs and will lift demand for the wide range of products and services supplied to the engineering construction industry. These impacts can be expected to multiply through the broader economy. The boost comes at a time when activity in engineering construction has been falling and when labour market growth has been slowing," Mr Innes Willox, Chief Executive of Ai Group said today.

"UK litigation funder Augusta Ventures has filed an application in the Federal Court for leave to appeal the important decision of Justice Lee in Turner v Tesa Mining [2019] FCA 1644. The appeal is seeking to challenge the power and discretion of the Court to order a litigation funder to provide security for costs, including for claims under the Fair Work Act where parties typically pay their own costs regardless of the outcome," Ai Group Chief Executive, Innes Willox, said today.

"In the current public debate about whether businesses have done enough to ensure compliance with Australia’s extremely complex workplace relations system, calm consideration is needed about any potential changes," Ai Group Chief Executive, Innes Willox, said today.

The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) climbed 1.3 points to 43.9 in October, indicating a slight easing in the construction industry’s overall rate of contraction (readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of the decrease).

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) rose by 2.7 points to 54.2 in October, marking three months of positive conditions following the services sector's mid-year slump (results above 50 points indicate expansion, with the distance from 50 points indicating the strength of the increase).

The Australian Industry Group and the Australian Constructors Association have filed a joint submission strongly supporting a proposal in an Attorney-General’s Department discussion paper to allow greenfields agreements to continue for the life of a project even if this is longer than the current four-year limit on the nominal term. Many major projects continue for longer periods; for example, the Snowy Hydro 2.0 Project is projected to continue for five to six years.

The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI^®) fell by 3.1 points to 51.6 in October, with an earlier-than-usual pre-Christmas boom in the food & beverage sector offsetting the broader industry’s flagging growth (readings above 50 points indicate expansion in activity, with the distance from 50 indicating the strength of the increase).

"New research by CSIRO's Data61, the data and digital specialist arm of Australia's national science agency, has confirmed what business has known for a long time: there is nothing better for graduate employability than internships and other on-the-job work-related training," Ai Group Chief Executive, Innes Willox, said today.

"The recent explosion in class action claims by plaintiff law firms, typically backed by overseas litigation funders, is a clear and present danger to Australia’s fragile economy.