Homeart goes into
liquidation – retail homewares chain, Homeart, has gone into liquidation
with 116 stores impacted across Australia.
Chinese tourism to
triple – The Federal Government has signed a deal with China allowing
almost triple the intake of Chinese tourists over the next two years. The new
deal will allow an extra 4,000 seats per week in flights between Australia’s
major cities and Beijing, Shanghai and Guangzhou. Chinese tourists added $5.3
billion to Australia’s economy in the last 12 months.
Betta Foods goes into
liquidation – the confectionery maker Betta Foods with turnover of $40m and
180 staff has gone into voluntary administration. Betta are manufacturers of
Eskimo Snowballs, liquorice, ice-cream cones and other lollies with
distribution to major retailers. The news follows a similar recent announcement
from chocolate maker, Ernest Hillier.
Debate over GST on
food – The recent debate in parliament over whether GST should be extended
to fresh food has not been lost on the cynics. Despite protestations from the
Federal Treasurer that GST would not be increased in the current parliament,
commentators are taking the debate seriously. Where there is smoke, there is
fire.