Galt Global Review

QFS 360

December 22, 2004
business digest


Australian Roundup

By Faye Mallett

headlines:
Longest serving prime minister
Gold strengthens Australia’s dollar
Australia credits US ally
Unemployed may lose welfare
Miracles no longer necessary


Howard reaches second longest serving prime minister mark
John Howard reached an extraordinary milestone this week when he became Australia's second longest serving Prime Minister.

Howard has been Prime Minister for eight years, nine months and 11 days - second only to Sir Robert Menzies, who is still yet to be surpassed at 16 years, one month and eight days.

After a fourth-term election win on October 9, Mr Howard, 65, is showing no signs of stepping down to Treasurer Peter Costello.

" To have won four election victories is something that will give him a place in history, which very few people will ever be able to take away from him, he deserves every credit for a wonderful and a magnificent electoral performance,” Costello said.

Gold strengthens Australia’s dollar
Australia's dollar strengthened after prices of its gold and copper exports gained last week.
Gold climbed for the eighth week in nine and copper prices had their biggest weekly advance since January of this year, boosting the outlook for export revenue and the economy.
Rising prices of raw materials have helped the Australian dollar surge 9.1 per cent in the past three months.

In the past three months, the currency had a 0.95 correlation with gold, of which Australia is the world's third-largest producer.

Australia credits US ally
Foreign Minister Alexander Downer credits Australia's close relationship with the United States as a strong aid in increasing its foothold in the Asia-Pacific region. Downer, who is the longest-serving foreign minister after serving almost nine years as the country’s top foreign diplomat, says he is proud Australia has built the closest relationship it has ever had with the United States, while also being seen as a regional leader by its neighbours.

"I think our close relationship with the United States has given us extra weight in the region,” he says.

He says while the decision to become involved in Iraq was challenging, it was not as hard as placing Australia as the main player involved in East Timor's struggle for independence.

Unemployed may lose welfare
The Howard Government’s new “work first, welfare second,” reform means welfare payments could be streamlined into a single working-age benefit as a means to encourage the jobless, disabled pensioners and single parents to go back to work.

A discussion paper outlining reform options to introduce a single welfare payment and simplify the system will be presented to cabinet in the New Year.

A single welfare payment was first proposed by the landmark McClure report in 2000, commissioned by the Howard Government. However, the cost to undertake a major overhaul and a senate hostile to the idea have stalled the reform initiatives.

Streamlining the system will encourage welfare recipients, including disability support pensioners and single parents to take advantage of training and support available through the Job Network scheme.

"We want to make sure we have a system that provides choices for parents - to stay at home and a choice to make it financially rewarding to return to work,” states Workforce Participation Minister Peter Dutton. The government is currently looking at a pilot program involving a major retailer to help mothers find work in the hospitality and retail industry.

Miracles no longer necessary
Australia's candidate for sainthood, Mary MacKillop, may have a chance at the title now that miracles are no longer being considered a prerequisite for sainthood.

Genoa's Il Secolo newspaper reported that Cardinal Joseph Ratzinger, the head of the Doctrine of the Faith and the Pope's right-hand man, would waive the miracle clause, placing the emphasis
instead on exemplary lives.

Pope John Paul II believes latter-day saints are an antidote to secularism and an example to all. He has created 422 saints in his 26 years as Pontiff.

In 1995, on his trip to Australia, he beatified MacKillop, the founder of the Sisters of St. Joseph, after the church formally accepted she had one miracle cure to her name. Sent home to die from leukaemia in 1964, a woman was cured after praying to MacKillop and had a child the next year, on August 8, the date MacKillop died.