Workers have returned to the former Carter Holt Harvey timber processing facility to begin manufacturing again following an agreement with the Queensland Government and Laminex Australia through the $150 million Jobs and Regional Growth Fund.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the Palaszczuk Government has worked with two local businesses – Corbet’s and Laminex – to reopen the Carter Holt Harvey timber processing facility, after the business announced earlier this year it would close the facility this month.
“We understand how important jobs are to regional Queensland and particularly in areas like Gympie,” Minister Dick said.
“That’s why we worked hard to facilitate the reopening of this important facility and ensure 42 locals could stay in work.
“Laminex has so far employed around 42 former Carter Holt Harvey employees, who started induction last week
“I am very impressed with the spirit of cooperation from all stakeholders and the collaboration between government and industry through Queensland Rail, Gympie Regional Council, Corbet’s and Laminex to help generate a positive outcome for employees.”
The Minister said the investment by Corbet’s and Laminex is important for not only Gympie but the entire Wide Bay region in terms of jobs, the timber industry and regional manufacturing.
“Securing new investment in this timber manufacturing facility is another example of the Palaszczuk Government’s commitment to creating and supporting jobs for regional Queenslanders,” he said.
10,000 jobs have been created in the Wide Bay region since January 2015, part of more than 192,000 jobs created in Queensland since the Palaszczuk Government was elected.
Work-life balance can be elusive under the best job circumstances, but when you work non-traditional hours—whether you’re in a client-facing role, you have a busy season (hi accountants!), or you’re facing a big project deadline—finding time for the people and things you love can be even more difficult.
After all, early mornings, late hours, and limited breaks aren’t exactly conducive to balance. Still, it’s possible to carve out time for what’s important to you even when your work life seems crazy. And adopting one (or more) of these expert tips can help.
1. Rethink Work-Life Balance
If you feel like you can’t find any work-life balance thanks to your non-traditional schedule, rethink your definition of the phrase, says Samantha Ettus, a work-life balance expert and author of The Pie Life: A Guilt-Free Recipe for Success and Satisfaction.
“Work-life balance is not about having balance every day,” she says. “It’s about creating a balance that feels manageable over the course of time—a week, a month, a year.” The problem comes when you expect balance every day—and judge yourself accordingly. “That’s just not how life works,” Ettus says. “We all know there are days when you start at 7 AM and end with a client dinner at 10 PM.”
2. Set Boundaries When You’re Less Busy
Even the most demanding work schedule likely ebbs and flows—an off season or a time between projects. Take advantage of these slower periods to set personal boundaries, as much as possible, with clients and co-workers.
Will you have to stay later sometimes? Yes. Is an occasional 5:30 PM meeting inevitable? Of course. But in general, once you start setting boundaries, people will respect them—and it may be easier to keep them going when things pick up again.
3. Embrace Micro Actions
If your work schedule doesn’t allow for blocks of personal time, embrace what LoVerde calls “micro actions”—activities that fit into bits of time during your day that are so small it’s easy to discount them. Don’t.
For example, LoVerde says, maybe you can’t fit in a 90-minute yoga class when you’re on a project—but can you do 4 minutes of tabata? Or program your wearable activity tracker to remind you to take a 2-minute walk every hour and drink a glass of water?
Individually, those don’t seem like much, but when you add them all up, you may find you’ve gotten 20 minutes of exercise and downed 10 glasses of water by the end of the day. Not too shabby!
4. Think of Your Life as a Pie
Ettus recommends imagining your life as a pie sliced into seven pieces: career, children, health, hobbies, friends, community, and relationship. Write down how much time you spend on each slice (be honest!), and set a goal for each one.
If you’re already struggling to balance a couple of “slices” (say, career and children), adding five more can seem counterintuitive—but stick with us. “It doesn’t have to be a hobby that you do every day of your life—a once-a-month book club still contributes to balance,” Ettus says. “People who live in all of their slices are the ones who feel more productive and fulfilled, so make sure you set goals for each area.”
5. Become a Quitter
As busy as you are, you’re probably wasting time each day on things that don’t contribute to your work-life balance in a meaningful way. LoVerde recommends quitting the things that get in the way of what you want. Who among us hasn’t lost 20 minutes mindlessly scrolling through Instagram, when we could have been texting a friend or meditating?
6. Build in Rituals
The findings of a 75-year Harvard study show that good relationships are the key to keeping us healthy, happy, and successful. Of course, relationships may occasionally take a backseat due to a busy season at work. But if there’s no down time in your future, then you must build in ways to stay connected with family and friends, Mary says—and the way to do that is to build in rituals, such as FaceTiming with your kids when you miss bedtime or a daily lunchtime text with your partner.
“You have a limited amount of willpower every day,” LoVerde says, “so building in rituals that help you stay connected to what’s really important will help you when you have to work strenuous stretches.”
We can’t promise that you’ll be able to find the perfect work-life balance all the time. But if you follow this advice, you’ll be on your way to creating more time and space for yourself and those who matter most.
As a job seeker, your jobactive provider can help you to:
- write a résumé
- look for work
- prepare for interviews
- get skills that local employers need
- find and keep a job.
What help can I get?
jobactive providers have the flexibility to tailor their services to your assessed needs to help you get and keep a job.
Your jobactive provider will meet with you to help you find work and develop a Job Plan that could include:
- activities to help you get skills that local employers are looking for
- help for you to overcome or manage non vocational issues where relevant
- looking for up to 20 jobs each month—your jobactive provider can tailor this number to your circumstances and local labour market conditions
- Work for the Dole or another approved activity (such as part-time work, part-time study in an eligible course, participation in accredited language, literacy and numeracy training or volunteer work) for six months each year.
To help you get and keep a job, your jobactive provider can access funding to pay for work-related items, professional services, relevant training and support after you start work.
Your provider can also connect you to a range of other government initiatives. These include relocation assistance , employer wage subsidies, training, apprenticeships and help to start a business through the New Enterprise Incentive Scheme (NEIS).
If you’re under 25 years and have been registered with your jobactive provider for more than six months, Youth Jobs PaTH can help you gain the skills and experience you need to secure a job.
Through Youth Jobs PaTH you can undertake practical face-to-face training, tailored to your needs, to improve your job preparation skills and better understand the expectations of employers. You can also undertake an internship placement of between four and 12 weeks with a business looking for new staff to show them what you can do.
If you’d like to know more about Youth Jobs PaTH, including the eligibility criteria, talk to your jobactive provider or visit the Youth Jobs PaTH page on the jobactive website.
Want more information?
- Call the Employment Services Information Line on 13 62 68 or talk to your provider if you are already registered with jobactive
- Search for a local jobactive provider on the jobactive website
- Read the jobactive—helping you find work fact sheet
Sunshine Coast Deputy Mayor Tim Dwyer and 10 business leaders from the region will embark on a mission to Boulder, Colorado to connect with key entrepreneurs to future proof the Sunshine Coast workforce.
The trip, which follows council’s participation at the March 2018 StartUp Catalyst Mission to Boulder, will provide a greater understanding of the trends influencing the skill set required for our future workforce.
The 10 business leaders from Sunshine Coast’s technology, innovation, health and education high-value industries will join the Deputy Mayor on the six-day mission which supports the Regional Economic Development Strategy’s local-to-global pathway and will aim to secure new programs, businesses and education opportunities for the region.
Cr Dwyer said this mission would showcase the potential of our healthy, smart, creative region.
“The international broadband submarine cable, which is set to be in operation in 2020, has the potential to deliver up to $927 million in new investment into Queensland with a significant chunk of that into the Sunshine Coast,” Cr Dwyer said.
“The cable is a significant asset and one that must be capitalised on by both the domestic and international business community.
Cr Dwyer said strong partnerships have started between the regions, as evidenced by the fact SunRamp Australasia, an offshoot of Colorado-based CableLabs will launch a program on the Sunshine Coast this year which will find, support and accelerate early-stage technology businesses.
“Colorado is very similar to the Sunshine Coast. It has a growing technology community and one we can gain much insight from as we navigate the rapidly changing digital landscape,” Cr Dwyer said.
“In addition to the business meetings, I will also meet with key organisations and government representatives in Denver and Boulder to explore a potential relationship between Boulder and Sunshine Coast local government authorities.
“This will provide us with a greater understanding of the Boulder innovation ecosystem and enable us to collaborate on projects that will support innovation and entrepreneurship here on the Sunshine Coast.
Organisations the Sunshine Coast delegation will meet with include angel investing group, the Rockies Venture Club, CableLabs, Colorado University, Galvanize and Boomtown.
To find out more about the City of Colorado and innovation, visit https://bouldercolorado.gov/innovation-technology
Two Sunshine Coast community organisations will receive a combined $2.7 million in Federal Government funding in round three of the Building Better Regions Fund (BBRF).
Sunshine Beach Surf Life Saving Club Inc has secured $2.5 million for its Club Redevelopment Project to demolish its aged clubhouse dating back to 1983, paving the way for Evans Built to begin work on new clubhouse due to open in November.
Next up, local charity STEPS Group Australia received $190,000 to fund the construction of new residential units at the Murphy House extension at its Pathways College in Caloundra, in aid of young adults with a disability.
Up to 330 new infrastructure projects and community initiatives – including 38 throughout Queensland – were funded as part of a $204.3 million investment in this BBRF round. Some $45 million of this funding was earmarked to support tourism-related infrastructure projects.
The $641.6 million Building Better Regions Fund (BBRF) underpins the Federal Government’s commitment to create jobs, drive economic growth and build stronger regional and remote communities into the future.
Deputy Prime Minister Michael McCormack, Minister for Infrastructure, Transport and Regional Development, recently announced 915 grant applications were received in this highly competitive funding round, under both the Infrastructure Projects and the Community Investments streams.
Regional Development Australia (RDA) Sunshine Coast assisted STEPS in its BBRF grant application by providing it with a Letter of Support and access to RDA’s new grants support resources.
RDA Sunshine Coast CEO Paul Fisher said he was thrilled to see both STEPS and Sunshine Beach SLSC secure the Federal Government BBRF funding.
“I’m thrilled to see vital, local community groups like these receive BBRF grants to ensure they remain strong, resilient and prosperous,” Mr Fisher said.
“We applaud the Federal Government for recognising the value of both the STEPS Pathway College and Sunshine Beach SLSC to our community.
“RDA Sunshine Coast is excited to see the positive difference these grants will make for local residents.”
The RDA Sunshine Coast is a community-based organisation whose vision is to create an innovative, dynamic, connected and sustainable Sunshine Coast.
Workplace social media apps might make our work life easier, but similar programs can have detrimental effects on our personal lives. So, should we really be using them at work?
Organisations work hard to create connections and collaboration between their employees. Firms are increasingly embracing social media platforms to encourage this with tools such as Yammer’ and ‘Workplace’ becoming ubiquitous. But as there’s an increasing body of research showing the negative effects of social media usage in our personal lives, it might be time to consider whether using these tools at work is similarly damaging?
Social media is a fact of life in most workplaces. Thirty-thousand companies around the world use Workplace by Facebook in the hope it will “promote openness, feedback and diversity to engage employees and drive cultural change”.
Subscribers to Yammer, Microsoft’s rival platform, are harder to spot as the platform is integrated into Office 365, but a 2012 McKinsey Global Institute study found that 72 per cent of companies were using some form of internal social media to promote communication and collaboration.
The plus side
There are plenty of advocates who point to the benefits social media has brought to our workplaces. In the Harvard Business Review, researchers found that employees who used such platforms were 31 per cent more likely to find colleagues with relevant expertise to complete a task, as well as using the platforms to “make faster decisions, develop more innovative ideas for products and services, and become more engaged in their work and their companies”.
Impressed? It gets better: the McKinsey study, which looked at just four industry sectors, argued that maximising the use of social media technologies at work could unlock $1 trillion in value annually.
The benefits are not just clear, they are substantial, inarguable even. Workplace social media platforms are designed on the same principles as their non-work counterparts. Engaging and user-friendly, they provide a constant stream of news, video clips and updates from colleagues across the organisation. Posts can be liked and shared just as they can outside of work.
The dark side
While the above research argues the productivity benefits of social platforms in the workplace, there is an increasing amount of evidence that these exact same features can be very damaging to users in their personal lives.
A 2014 study from the University of Toledo demonstrated the impact Facebook can have, finding an inverse correlation between time spent on the platform and self-esteem; the longer you spend on Facebook, the less likely you are to feel good about yourself.
This is in part because we compare our lives and experiences to those we see online; photos of a friend on holiday can reinforce the fact that we are on the sofa at home, and eating our reheated pasta in front of an Instagram feed of Ottolenghi delights has the same effect.
This in turn is proven to lead to feelings of envy and social isolation, which can be hugely damaging both mentally and physically. And then there’s the productivity issue: social media is addictive – it’s designed that way – and users can easily spend hours on the platforms, feeling genuine symptoms of withdrawal when they eventually log off.
Those cravings can also be accompanied by a fear of missing out, physical fatigue and depression. These are hardly feelings you want to cultivate in your employees.
To cap it all off, a 2018 study demonstrated that the reverse is true; reducing participants’ exposure to social media to ten minutes a day led to a decrease in loneliness and depression.
So, if there is such a large body of research demonstrating the negative impacts of social media, surely it’s time to consider all of these findings in a workplace context?
It’s not hard to imagine employees spending too much time on social media at work just as they do at home, particularly when many companies encourage the creation of online social groups alongside work-related content.
Anxiety can quickly be generated by looking to see whether or not your boss has “liked” your latest post, or when you notice that peers in your team have more followers or connections than you do.
Work platforms are often used to share positive news about promotions, team achievements or company successes. Managers might, post something to provide updates, or to create a sense of shared success and community. But if you’ve missed out on a role you applied for, or feel that your pay rise doesn’t reflect the wider performance of the firm, then this sort of celebration could easily feel smug and self-congratulatory.
Perhaps your colleague has posted a selfie from their trip to the New York office that you see while you’re sitting on the bus on your way to work. Are you going to ‘like’ that? The main social media platforms had a long honeymoon period before academics seriously studied the potential downside of this new phenomenon that was sweeping the world, and it’s only in recent years that this has been comprehensively analysed.
So now it’s time to cast an analytical eye onto workplace social media. Much of the writing to date has focused on the potential upside and benefits it brings – like that trillion-dollar McKinsey bounty – and we are still arguably in that same honeymoon phase.
But if we know beyond doubt that social media can be damaging and dangerous to users in their personal lives then surely it’s time to think twice about how far we should encourage its use in our workplaces?
To go one step further, if a manager insisted their employees perform activities that were proven to have negative physical and mental side-effects then they would be negligent at best, and at worst, culpable. Social media does exactly that, so we should reconsider how we use it at work.
The Jetty Specialist has today (March 5) opened their new $13 million purpose-built marine manufacturing facility in the Sunshine Coast Industrial Park.
Joining the business owner and founder, Neil Morris and his family, Sunshine Coast Council Mayor Mark Jamieson praised The Jetty Specialist team for their tenacity and dedication to building the business to where it is today.
“From its origins on their back porch in Minyama in 1986 to this outstanding new facility here today, the Morris family is a great example of local entrepreneurs growing their business, providing employment opportunities and contributing to our Sunshine Coast community,” Mayor Jamieson said.
“This new purpose built factory incorporates state-of-the-art equipment, the latest technology, high-end fixtures and fittings along with a waterway specifically created to test marine infrastructure.
“It’s an impressive space and will enable The Jetty Specialist to boost production and continue building high quality pontoons, jetties and marine infrastructure from the new factory.
“When businesses like The Jetty Specialist have confidence to re-invest in the region, it has a flow-on effect of creating more jobs, better access to products and services and supporting other businesses to grow through their product and supply chain requirements.
“The Jetty Specialist currently supports 60 full time jobs and is predicted to grow to 75 full time jobs within the next four years.”
Owner and founder Neil Morris said he and his family were proud of their contribution to the Sunshine Coast.
“Spending time on the water, whether it be out on the boat fishing or enjoying lunch at one of the many marinas, this lifestyle is what we love,” Mr Morris said.
“So to be able to run a national business on the Sunshine Coast and service people across Australia is a real honour.
“In addition, as our business grows, we can offer more jobs to locals, giving families the opportunity to live and work on the Sunshine Coast, just as we have done.
“We’re excited about this new phase of our business and look forward to continuing to build high quality marine infrastructure for all Australians – shipped from the Sunshine Coast.”
Most people take time to adjust to retirement. A job provides not just money but lifestyle, self-image, purpose and friendships. For those who have turned an interest, hobby or passion into a career, a job is a means of personal fulfilment and creative expression.
Responses to retirement for each person, and depend a lot on the reasons for leaving the workforce. For example, a person who carefully planned for their retirement is more likely to feel positive about it, while a person who is forced into early retirement due to redundancy or illness may find it harder to cope with the transition.
If you’re unsure about whether or not to retire, it may help to take long service leave or extended unpaid leave to give retirement living a trial run. Stepping down the number of days you work from five to four, and so on, may make for a more successful transition into retirement.
Plan your post-work lifestyle
Some people look forward to retirement as an extended holiday where they can finally slow down and ‘smell the roses’. Other people expect to have a busier, more active life than when they were working.
The life expectancy for women is around 83 years and for men, 77 years. If you leave work at 65, for example, you could expect between 12 and 18 years (at least) of retirement. How are you planning to live those years? It is important to consider the kind of lifestyle you want before you retire and start to make plans, and even implement some of them, before you leave work.
Financial issues and retirement
Consult with your financial planner, accountant or similar to work out the financial issues of retirement. Some of the factors to consider include:
- the size of your superannuation nest egg
- other savings and assets
- whether you have any dependants
- if you are planning to continue working part-time or not
- your eligibility for pensions or part-pensions
- financial options if you or your partner fall ill
- the kind of retirement lifestyle you’re anticipating.
Emotional issues and retirement
At first retirement can feel like a holiday and the initial phase is often referred to as the ‘honeymoon’ period. You can sleep in, catch up on reading or hobbies, and spend more time with family and friends. However, once this ‘honeymoon’ period wears off, you may feel down or depressed. Emotional issues to consider include:
- Our vocation forms part of our identity. Some people can feel a loss of self-worth once they stop working.
- Daily routine and activities add purpose to life. If there is nothing in particular to do or look forward to on any given day, a person is more likely to feel bored and depressed than a person who lives an active meaningful life.
- Spending time on hobbies and interests, for example, may not turn out to be as rewarding and meaningful as anticipated.
- Grandparents may find they are expected to baby sit all the time.
- Partner issues can include differing (and conflicting) ideas on retirement lifestyle.
Partner issues and retirement
Some of the common issues include:
- One partner has retired or plans to retire, while the other wants to continue working.
- Ideas on retirement lifestyle may clash; for example, one partner may want to keep busy with travel, hobbies and volunteer work, while the other expects a more relaxed daily routine.
- It can be difficult at first to work out how much time to spend together. This is particularly the case if one partner is outgoing and social, while the other is more introspective. In this scenario, the outgoing partner may feel ignored, while the introspective partner could feel harassed.
- Some people may try to do everything as a couple, but lack of personal space can cause stress and relationship conflicts.
Planning can help create a happy retirement
People who plan an active life after retirement tend to be happier than those who have no plans or routines. Suggestions include:
- You’ve retired from a 38-hour week, not from working altogether. If you love what you do, consider dropping the hours to part-time (if possible), rather than fully retiring.
- Volunteer work is a satisfying way to add structure and purpose to your life, and there are many community organisations to choose from.
- Put time and energy into much-loved interests.
- Try to achieve at least five hours of purposeful community activity a week.
- Think about all those hobbies you wanted to try but didn’t have the time – you do now.
- Further education options range from short courses through to university degrees. You could launch a new career during your retirement years, if you wish.
- Reduce the risk of health problems by exercising regularly. Joining a gym, walking club or team sport, which can also add a social element to your weekly routine.
- Make sure that you and your partner discuss ways to accommodate each other’s wants, needs and expectations.
- Loneliness is a common source of depression in older people, so make sure you maintain and increase your social networks.
A person who has retirement forced on them because of redundancy may find it harder to adjust. Suggestions include:
- Ask your employer if it’s possible to continue working part-time in the same position.
- Look for other opportunities. There may be another job you could apply for in the same company.
- Apply for jobs with other companies, either full-time or part-time.
- Consider retraining to update your skills and make you more employable.
- Try volunteer work; it may help get your foot in the door and provide valuable contacts.
- Discuss your options and expectations with your partner. Remember that meaningful activities, regular exercise and social contacts can help make retirement a satisfying time of life.
- Seek professional help if you feel prolonged anxiety, stress or depression.
Construction has begun on the $35 million Sunshine Coast International Broadband Submarine Cable network project, which will provide Australia’s fastest data and telecommunications transmission speeds to Asia.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the cable will prove a key catalyst in boosting the local economy.
“This exciting project will see an undersea fibre optic cable built to connect the Sunshine Coast and Queensland directly to Asia and the United States,” Mr Dick said.
“The cable will be a major business and investment drawcard, particularly for enterprises with large data requirements.
“Connecting Queensland directly to a major international hub will future-proof our digital infrastructure and provide massive economic stimulus for the Sunshine Coast.
“An independent assessment commissioned by council estimates the project will create up to 864 new jobs and could add $927 million to our state’s economy.
“This is a transformative development for the fast-growing Sunshine Coast, delivering the only international cable landing on the east coast of Australia outside of Sydney.
“The Palaszczuk Government is proud to support Sunshine Coast Council in delivering this visionary infrastructure with $15 million funding through our $150 million Jobs and Regional Growth Fund.”
Sunshine Coast Council will invest the additional $20 million to deliver the $35 million Sunshine Coast International Broadband Submarine Cable network project.
RTI Connectivity are building a 9600-kilometre submarine cable between Japan, Guam and Australia (JGA), and a 550-kilometre branch would connect the JGA cable to a new landing station at Maroochydore.
Sunshine Coast Council Mayor Mark Jamieson said the council is the first local government in Australia that’s been able to secure investment in an international broadband submarine cable.
“The cable will provide the Sunshine Coast and Queensland with direct data and telecommunications connectivity to Japan, Hong Kong and the United States, increasing the speed and capacity of Queensland’s international connections,” Mr Jamieson said.
“Our Sunshine Coast is fast becoming a digital leader, and the submarine cable network will help position our region as a key digital trading hub from Australia.
“By now being able to offer Australia’s fastest international data connection point to Asia, this will provide a significant step-change in the Sunshine Coast’s attractiveness as an investment location.
“We will be stimulating investment and jobs growth on the Sunshine Coast thanks to the superior telecommunications connectivity and data infrastructure that we will be able to offer – and this project is already generating substantial investment interest”.
The submarine cable network is expected to be in service by mid-2020.
The landing station is situated adjacent to the Maroochydore City Centre Priority Development Area.
At Jobs On The Coast we are keen to help our customers find ways to maximise their quality of life and disposable income, which can be achieved through increasing your income (e.g. finding a higher paying job) or reducing your expenses (e.g. reducing the money spent and time absorbed on the daily commute to Brisbane).
As a mortgage payment is often our largest financial commitment, many of us also recognise the importance of making sure we regularly check we are getting the best deal from our lender. A great way to help you do this, is by contacting a Mortgage Broker.
If you’ve ever used a Mortgage Broker to “keep your bank honest”, find the best deal, or navigate the complicated rules to get your loan approved, you may wish to join the campaign to save their business model.
The proposed changes from the Banking Royal Commission mean that you will not have access to a mortgage broker’s advice in the future, without having to pay fees for service.
As the value of a Mortgage Broker’s business is based on their trail commission revenue, the proposed changes will force first-class brokers out of the business, having the opposite effect to what most of us want to see. Without Mortgage Brokers, the banks will have reduced competition, allowing them to increase their fees and interest rate margins. Ultimately resulting in us, the customers paying more!
According to the Credit Industry Ombudsman you are 760% more likely to have a complaint about your bank than about your Australian Credit Licensed Mortgage Broker.
Mortgage Brokers trailing commissions have been portrayed as “ money for nothing” and but here are a couple of important considerations:
- Trailing commission provides a menu of services that the banks would otherwise struggle to provide – such as rate reviews to ensure you are still getting a competitive deal on your loan, help with ongoing matters such as transactional assistance, removal of guarantees, swapping properties over whilst retaining the same loan when buying and selling, and such forth. These services are hard to leverage from the bank directly and the services are not able to be provided free of charge by brokers as for good brokers it accounts for 25% of their working hours. Trailing commissions pays for these services. Without trailing commission these services will be either be charged for by brokers or we can approach our bank and see how we go with getting through to the right department in the bank to get help with matter at hand.
- When a loan goes into arrears, trailing commissions cease until the loan is back in good conduct. Subsequently, the broker makes contact with the borrower and assists with getting the loan back into good conduct. This is an important trigger in our economy – banks are risk-rated according to a number of parameters but most importantly on loan delinquencies. The banks risk rating affects how much it costs them to raise capital to lend to us. The more loan delinquencies, the higher the cost. In summary it’s realistic to expect that more loans will stay in arrears for longer when trailing commissions are removed- and we could all end up paying a higher rate solely due to removal of trailing commissions.
The following graph shows the fall in banks net interest margins since 1989 and a significant contributor to this has been the increased competition brought about by mortgage broking:
If you want to show your support the future if Mortgage Brokers, follow this link and it takes less than a minute to sign the petition and send an email to your local MP …