Millenials not that into cars
A CAR is no longer the great symbol of freedom for young people. Millennials — people aged between 18 and 34 — are less likely to drive than people their age a decade ago, and a third have chosen not to fork out for a car. Some 67 per cent of millennials who participated in Roy Morgan Research’s 2016 car industry survey are driving, down from 72.5 per cent of the same age group in 2006. Almost one in five milliennials have the Uber app on their phone or tablet, and two thirds of those had used the service in the past month. Consumer services innovator Scott Browning, the chief executive of mobile startup Quickar and former marketing director at JB Hi- Fi, says fewer people will own and drive a car in the future because there won’t be a need. THE Productivity Commission has called for the body that markets most of Australia’s raw sugar exports to lose a lucrative tax break and face greater competition, as debate rages about re- regulation of the sector.
QSL works on behalf of seven Queensland milling companies and their canegrower suppliers, generating revenues of around $ 1.5 billion a year from 3.5 million tonnes of raw sugar.
The commission said in a landmark review of agricultural regulation, released yesterday, the Queensland Government should repeal recent laws which re- regulated the sugar industry.
It also said the Federal Government should exclude agri- cultural commodity trading companies from being granted charity status, which brought with it tax concessions.
QSL was granted charity status in late 2015, with its charitable purpose to “promote the development of the Australian sugar industry” and support its “long term prosperity and sustainability” for the benefit of the community.
This is despite QSL’s main activity being the export of raw sugar for the benefit of mills and cane farmers.
The commission estimated since 1990 almost $ 2 billion in tax breaks had been provided to the industry.
“Charity status also reduces the transparency of QSL’s financial performance,” the report said.
Taking aim at the LNP Opposition legislation from 2015, the commission said it restricted competition and reduced productivity.
“The regulation restricts the marketing choices of sugar millers when they should have the property rights over the sugar that they crush. There is no market failure to justify the re- regulation.”