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Until recently, debate over the Anthony Albanese’s Closing Loopholes legislation has largely ignored a factor that could smash the economy. Unless this is clarified, resources and energy operations could shut. Thousands of workers could be out of a job. Frankly, it is ludicrous to think the FWC, with only one of its 50 members ever having run a substantial business, could be allowed to make assessments about future work plans that experienced business managers and board directors haven’t yet contemplated.

Wabtec Corporation and Hancock Prospecting subsidiary Roy Hill have celebrated the debut of the FLXdrive battery locomotive at a ceremony held at Wabtec’s design and development centre in Pennsylvania, US. The FLXdrive battery locomotive is the world’s first 100 per cent battery-powered, heavy-haul locomotive for a mainline service. It has a pink design to symbolise Roy Hill’s commitment to assisting in breast cancer research and those suffering from the illness. “This FLXdrive locomotive represents a major step in the journey to a low-to-zero-emission future in the rail industry,” Wabtec president and chief executive officer (CEO) Rafael Santana said.

“Viewed on its own — and in conjunction with the last year’s industrial relations changes — the same job, same pay reforms could, depending on decisions left to Fair Work, significantly increase costs with no corresponding increase to productivity,” Qantas’ acting industrial relations executive Nathan Safe said. “That could, in turn, compromise the viability of services, undermine job security and create market distortions by way of an unlevel playing field in circumstances where competitors will not be captured by the proposed reforms.”

“This legislation is completely irredeemable,” Ms Constable said on Tuesday. “You cannot fix it with Tipp-Ex and Post-it notes. It needs a complete rewrite. The Government needs to head back to the drawing board and start again instead of scrambling to add poorly worded amendments.”

Wabtec and its launch customer,
a leading iron ore miner majority owned by Australia’s most successful private company, Hancock Prospecting, celebrated the debut of the FLXdrive battery locomotive, the world’s first 100% battery-powered, heavy-haul locomotive for mainline service. The ceremony unveiled the unique, striking pink-colored locomotive at Wabtec’s design and development center in Pennsylvania in front of employees, customer executives, and government and community officials.

The Minerals Council has accused Workplace Relations Tony Burke of showing “complete disregard” for WA’s resources sector after he claimed some companies were over-egging the impact of his contentious shake-up of labourhire laws.

EXCLUSIVE Former AGL Energy boss and power industry veteran Michael Fraser has warned Australia needs a reality check on meeting its net zero targets as the nation moves ever closer to a rolling energy crisis. One of the country’s most experienced power executives, Mr Fraser told The Australian the race to take coal and gas out of the system means the coming decade is likely to be marked by regular blackouts and surging prices, given the massive shortfall in efforts to switch the power grid to renewables. “Nobody’s saying that we’re on schedule or ahead of schedule. We’re behind schedule,” said Mr Fraser, who ran Australia’s biggest power generator for eight years until 2015. Mr Fraser cautioned “a return to the 1970s” when state-backed power networks suffered from chronic blackouts.

Mining giant Rio Tinto has join BHP in savaging the Federal Government’s proposed shake-up of Australia’s industrial relations laws, describing the controversial “Same Job, Same Pay” legislation as an “over-reach”.“Not only does such application risk undermining arrangements agreed to between employees and employers in those businesses, but, for mining, it threatens productive models of service delivery that are central to attracting investment in Australia.” “Our experience is that arrangements tailored for individual business help drive productivity growth,” Rio said.

More than half said they would stop hiring casuals if the changes came into effect, while 36 per cent said they would shed staff. Stagnating productivity is a serious threat to Australia’s economic prosperity. Australia can not afford to sit back and expect the riches to flow. Our politicians need to get the policy settings right to encourage investment, not dampen it. Because a prosperous Australian economy will make things better — and fairer — for all.