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The media has reported that Swedish furniture company IKEA's Australian arm has earned an estimated $1 billion in profits since 2003, almost all of which has been exported tax-free. Action to crack down on tax avoidance is on the agenda of next week's G20 in Brisbane, but it remains to be seen if the interests of developing countries will be looked after.
When the ANU sold its shares in coal companies recently, it received a mixed response. Critics said investment decisions should be made solely on financial grounds. But investing is done by human beings, who should be guided by their effects of their investment on other human beings, not simply by the profit it brings them.
Unfortunately, when people pin their hopes for a just and fair society to a corporation, they can be sadly disappointed. A spate of deaths around the country suggests that many corporations have plenty of power to influence governments to produce policies and legislation convenient for their operations, but fail to take responsibility for their bad outcomes, which include deaths in workplaces.
From 1 January 2015, China will ban the import of coal with high ash or sulphur content and impose a three per cent tariff on all coal imports. In the muddle of politics and policy, we have a concrete example of worsening environmental conditions forcing policy makers to act. Australia's economy propped up by coal exports, but it's also time to think beyond the specific implications of China’s proposed restrictions.
Considering my indebtedness to the two Aborigines who met [my family's ship arriving in Hervey Bay from Ireland] 151 years ago, I owe it to all my fellow Australians to agitate these issues of law, morality and politics here in Ireland so that back in Australia, the homeland which, in my religious tradition, was known as the Great South Land of the Holy Spirit.
Since Richard Casey was External Affairs Minister in the 1950s, the three pillars of Australian foreign policy have been: a genuine reaching out to our Asian neighbours, adherence to UN-based multilateral values and institutions, and a firm but self-respecting defence partnership with the United States. All those pillars look pretty shaken now.
Prime minister Tony Abbott told an industry gathering in May that ’it’s particularly important that we do not demonise the coal industry’. Pope Francis is likely to do just that when he releases his new encyclical on humanity’s role in caring for the earth.
China's meteoric rise is still a relatively new phenomenon. The contours of public discourse on this topic are not yet well worn. Clive Palmer's comments weren't a gaffe so much as a stump speech.
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