Last week the Senate agreed to my motion that it conduct an inquiry into food certification schemes in Australia.
This was prompted by the growing number of Australians who are concerned about the number of certification schemes and the lack of transparency in relation to labelling, cost to consumers, cost to business and suggestions that coercive tactics are being used to ensure compliance.
The Federal Budget was handed down last night and as always there is a lot of detail to get through. However, one of the headline acts was support for small business through a 1.5 per cent tax cut, the ability to claim sub-$20,000 purchases as tax deductions through accelerated asset depreciation.
This means that any purchase made by a small business - whether a company or private operator - up to the value of $20,000 can be instantly 'written off'.
With the Federal Budget set to be handed down next week, I suspect a lot of political skin will be riding on how it is received. All indications thus far suggest it will be designed to support the economy and protect jobs in a rather fragile environment.
Whilst there is always the usual sanctioned ‘leaks’ and media speculation, it is a fair guess that the country will run a large deficit next year – and for some years after that.
Last week, I met with a group of self-made business men and women.
They were all financially successful yet seemed to have the balance right in respect to other aspects of their lives too. They had families, seemed to take their parenting responsibilities seriously, tried to keep fit and also pursued numerous philanthropic endeavours.