Author: roymorgansocial

Thousands face income hit as disaster payments are cut: UNSW

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Original article by Shane Wright
Brisbane Times – Page: Online : 4-Oct-21

Research conducted by the University of New South Wales and the Australian Council of Social Service contends that many people in electorates across Melbourne and western Sydney will be adversely impacted by cuts to COVID-related disaster payments. The cuts are due to begin when 70 per cent vaccination targets are met, which is due to happen in NSW as soon as 11 October. The research contends that ending the payments will push thousands back into poverty, and could harm the nation’s recovery from the pandemic.

CORPORATES
UNIVERSITY OF NEW SOUTH WALES, AUSTRALIAN COUNCIL OF SOCIAL SERVICE

ANZ-Roy Morgan New Zealand Consumer Confidence down by 5.1pts to 104.5 in September – lowest for a year

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Oct-21

ANZ-Roy Morgan New Zealand Consumer Confidence fell 5.1pts to 104.5 in September. Consumers’ perceptions of their current financial situation fell 5 points to +7%, while a net 24% of consumers expect to be better off this time next year, up 2 points. In addition, the proportion of people who believe it is a good time to buy a major household item fell 20 points to -7. Perceptions regarding the next year’s economic outlook fell 8 points to -13%, while the five-year outlook rose 5 points to +12%. CPI inflation expectations were steady at 5.1%.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

$700m a week wiped from Victorian economy

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Original article by Jade Gailberger, Sarah Booth
Herald Sun – Page: 6 & 7 : 4-Oct-21

Victoria recorded 1,220 new locally-acquired COVID-19 cases on Sunday, following a record 1,488 cases on the previous day. The state’s death toll from the pandemic has risen by three, and there are now 11,785 active cases state-wide. Meanwhile, Melbourne has now endured 246 days of lockdown since the pandemic began, overtaking the record previously held by Buenos Aires. It has been estimated that the lockdowns have cost the state’s economy about $700m per week. Melbourne will have been in lockdown for 267 days in total by 26 October, when 70 per cent of eligible Victorians are expected to be fully vaccinated and the economy starts to reopen.

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ABC’s botched doco to cost jobs

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Original article by Sophie Elsworth
The Australian – Page: 19 : 4-Oct-21

The ABC recently withdrew a mini-series examining the 1975 disappearance of Sydney activist Juanita Nielsen from its streaming platform, after it was revealed that the mini-series may have aired false claims. It is believed that some people at the ABC may lose their jobs as a result, with the controversy regarding the Juanita Nielsen mini-series coming not long after an independent assessment into an ABC program into the 1979 Sydney Luna Park fire that killed seven people found it was misleading and had incorrectly implied a relationship between former NSW premier Neville Wran and underworld figure Abe Saffron.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Australian unemployment plummets to 8.7% in September – as lockdowns of over half of Australia’s population continue

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Oct-21

The latest Roy Morgan employment series data shows that 1.27 million Australians were unemployed in September, down 97,000 on August, for an unemployment rate of 8.7%. Driving the fall was far fewer more people looking for part-time work (down 135,000 to 735,000) while there was an increase in people looking for full-time work (up 38,000 to 530,000). Some 1.16 million Australians (8.0% of the workforce) were under-employed – working part-time but looking for more work, a drop of 12,000 (down 0.2% points) from August. In total, 2.43 million Australians (16.7% of the workforce) were either unemployed or under-employed in September, a drop of 108,000 on August. Overall, total unemployment and under-employment was at its lowest since early March 2020 (2.16 million) just prior to the start of the COVID-19 pandemic. Meanwhile, employment was up 267,000 to 13,308,000 in September, driven by an increase in part-time employment (up 273,000 to 4,660,000). In contrast, full-time employment was virtually unchanged at 8,648,000. Roy Morgan’s unemployment figure of 8.7% for September is over 4% points higher than the current ABS estimate for August 2021 of 4.5%.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Clive Palmer: Federal Govt should put 10 per cent tariff on Australia’s iron ore exports

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Original article by Peter Gleeson
Sky News Australia – Page: Online : 4-Oct-21

United Australia Party chairman Clive Palmer has called on the federal government to impose a 10 per cent tariff on iron ore exports to China. Palmer said the money raised from the tariff would be used to help Australian industries that have been impacted by Chinese tariffs, such as the wine sector. He says he has made an additional one billion tonnes of iron ore available in the Pilbara, with Citic, his Chinese lessee, to be taking up that option.

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UNITED AUSTRALIA PARTY, CITIC LIMITED

Perrottet stitches up deal to be next NSW premier

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Original article by Aaron Patrick
The Australian Financial Review – Page: 1 & 6 : 4-Oct-21

New South Wales Treasurer Dominic Perrottet is set to succeed Gladys Berejiklian as state premier at a leadership ballot on 5 October. Planning Minister Rob Stokes is currently the only other contender, but sources have indicated that Perrottet has sufficient partyroom support to win the ballot. Jobs Minister Stuart Ayres is likely to become deputy premier, despite claims by Liberal insiders that Perrottet has a long-standing agreement for Environment Minister Matt Kean to run as his deputy. Kean is tipped to replace Perrottet in the treasury portfolio. The leadership change is not expected to affect the state’s schedule for reopening the economy.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. THE TREASURY, LIBERAL PARTY OF NEW SOUTH WALES

Housing value to hit $10 trillion

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Original article by Lachlan Moffet Gray
The Weekend Australian – Page: 21 & 24 : 2-Oct-21

Data from CoreLogic shows that housing values in Australia have risen by 17.6 per cent so far in 2021, including 1.5 per cent in September. Meanwhile, the total value of the nation’s housing stock may top $10trn by the end of the year if the current growth momentum continues. The Australian Bureau of Statistics recently reported that the value of housing stock rose to $8.92trn in the June quarter. National Australia Bank has forecast that house prices will rise by 20 per cent in 2021, following growth of about 3.8 per cent in 2022.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Curse of ICAC claims Covid crusader Berejiklian

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Original article by Yoni Bashan
The Weekend Australian – Page: 1 & 5 : 2-Oct-21

Former prime ministers Tony Abbott and Malcolm Turnbull are among the Liberal Party identities who have praised Gladys Berejiklian following her resignation as premier of New South Wales. Berejiklian is the state’s third premier to be forced to resign by the Independent Commission Against Corruption, after it announced that she would be investigated over a ‘breach of public trust’. Berejiklian’s relationship with disgraced former Liberal MP Daryl Maguire will come under scrutiny by ICAC. Berejiklian has criticised the timing of the investigation, given the COVID-19 pandemic, but says she had no choice but to resign. She will also exit state politics after 19 years in parliament.

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NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. INDEPENDENT COMMISSION AGAINST CORRUPTION, LIBERAL PARTY OF AUSTRALIA

Lockdowns no barrier to budget tax jump

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Original article by John Kehoe, Ronald Mizen
The Australian Financial Review – Page: 10 : 1-Oct-21

The federal government has advised that the Budget deficit blew out to a record $134.2bn in 2020-21, although this is well below the government’s worst-case scenario forecasts. Meanwhile, data from the Department of Finance shows that the underlying cash deficit for the first two months of 2021-21 was $22bn, compared with a forecast of $28.1bn in the Budget in May. Government revenue for the period was $12.1bn higher than had been forecast in the Budget, with higher-than-expected revenue from personal and company taxes.

CORPORATES
AUSTRALIA. DEPT OF FINANCE