Ann: Dividend and Market Update 30 October 2023, page-8

MEB(Multi enterprise bargaining agreement) is purely focused on workforce wages and conditions within the sector. If you want my personal opinion(own a couple of small for profit centres), if the Government doesn't support what has been proposed, or delays the negotiations, it will be a complete disaster for everyone involved and will highly likely lead to potential service closures, but definite further reductions in occupancies as centres struggle even more to meet staffing ratios. If the negotiations are successful in the hoped timeframe, e.g. by the end of this financial year, then it will still take time for the effects to filter through to the overall workforce. You can also guarantee that the Government will want some further level of control over providers if they are going to directly fund part of the workforce's wages, in addition to the subsidies they pay to providers that make up the majority of their income.