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Updates from Australian Banking Association and Albanese Labor Government

The Federal Government has announced support for a Digital and Tech Skills compact between government, unions and technology employers agreed at the Jobs and Skills Summit.

The compact affirms commitment from industry, government and unions to cooperate to help address skill shortages and grow the Australian tech sector.

Friends, I begin by acknowledging the traditional owners of the land on which we are meeting and pay my respect to elders past and present, and thank the Aboriginal and Torres Strait Islander people who are here with us today who have contributed and made this forum just so much better through your input.

I do want to now return the favour and ask everyone to thank Jim Chalmers.

This has been an event which has been far more successful than we could have hoped, and to Jim and your team, to all of my ministerial colleagues who’ve done so much hard work, to your staff and to all of the dedicated public servants.

The Australian Government will increase the duration of post study work rights of international students to strengthen the pipeline of skilled labour.

A working group will be established to advise the Ministers for ³Ô¹ÏÍøÕ¾ Affairs and Education on the development of this and other relevant issues.

Modernising Workplace Relations Laws to Get Wages Moving

The Albanese Labor Government will get wages moving – particularly for women and small business workers – by modernising Australia’s workplace relations laws.

The message from the Jobs and Skills Summit was clear: the agreement-making system is broken and it’s no longer delivering for employers or workers.

An increase to the annual permanent migration cap by 35,000 to 195,000 announced today at the Jobs and Skills Summit has been welcomed by the Australian Banking Association (ABA).

Age and Veterans Pensioners will be able to earn an additional $4000 over this financial year without losing any of their pension due to the Albanese Labor Government providing a one-off income credit designed to give older Australians the option to work and keep more of their money.

Following the successful Jobs and Skills Summit in Canberra, an immediate $4000 income credit will be added to the income banks of Age Pensioners from December to be used this financial year.

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