Author: roymorgansocial

Coalition denies plans to slash NDIS, but says cost is out of control

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Original article by Sarah Basford Canales
The Guardian Australia – Page: Online : 25-Mar-25

The National Disability Insurance Scheme’s growth rate is forecast to reach 12 per cent in 2024-25, before falling in the next two financial years. The national cabinet agreed to cap the scheme’s growth rate at eight per cent by mid-2026, but shadow NDIS minister Michael Sukkar says Labor is missing the targets it has set. Meanwhile, shadow public service minister Jane Hume contends that more can be done to reign in the scheme’s growth, arguing that its cost is out of control. NDIS Minister Amanda Rishworth says the Liberals cannot be trusted with the NDIS, and she has urged the party to reveal the cuts it plans to make if it wins the upcoming federal election.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, LIBERAL PARTY OF AUSTRALIA

Top-heavy bureaucracy needs efficiency, not cuts

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Original article by Ewin Hannan
The Australian – Page: 4 : 25-Mar-25

Public Service Minister Katy Gallagher believes that the federal public service is "roughly the right size now", at about 209,000 people. A former head of the Australian Public Service Commission, Andrew Podger, agrees that the number of public servants is "probably about right". However, he says there are inefficiencies in the public service that must be addressed; amongst other things, Podgers contends that the number of deputy secretaries is too high, while some bureaucrats are paid too much. The federal government has increased the public service head count by about 36,000 since taking office in May 2022.

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AUSTRALIAN PUBLIC SERVICE COMMISSION

Gold Fields in $3.3bn bid for mine partner

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Original article by Brad Thompson
The Australian – Page: 18 : 25-Mar-25

South Africa-based Gold Fields has made an all-cash takeover bid for Gold Road Resources; the offer of $3.05 per share values the Australian-listed gold producer at $3.3bn. This includes an $829m valuation for the target’s 17.3 per cent stake in De Grey Mining, which itself is the subject of a $5bn takeover bid from Northern Star Resources. Gold Fields has launched the hostile bid after its takeover approach was rejected by Gold Road’s board in early March. The two companies jointly own the Gruyere gold mine in Western Australia, and they both want to buy each other out.

CORPORATES
GOLD ROAD RESOURCES LIMITED – ASX GOR, GOLD FIELDS LIMITED, DE GREY MINING LIMITED – ASX DEG, NORTHERN STAR RESOURCES LIMITED – ASX NST

Time to buy, says James Hardie

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Original article by Cameron England
The Australian – Page: 15 & 23 : 25-Mar-25

Australian-listed building materials group James Hardie Industries has defended its move to acquire US-based Azec, which makes outdoor living products such as decking and siding. James Hardie CEO Aaron Erter says the two companies’ products are complementary, and the $US8.75bn ($13.93bn) deal is expected to generate annual synergies of around $US350m. Erter has also downplayed concerns about pursuing the deal amid the current political and macroeconomic uncertainty, contending that they will be well-placed to benefit when the market recovers.

CORPORATES
JAMES HARDIE INDUSTRIES PLC – ASX JHX, THE AZEC COMPANY INCORPORATED

ALP’s fiscal reckoning

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Original article by Geoff Chambers, Matthew Cranston
The Australian – Page: 1 & 4 : 25-Mar-25

Treasurer Jim Chalmers says the federal budget is in much better shape than when Labor took office in May 2022. He adds that tonight’s budget will help to "finish the fight against inflation" and ease the cost-of-living crisis. The budget papers are expected to show that gross debt will total $940bn in 2024-25, which equates to about 36 per cent of GDP; this compares with the forecast of 35.2 per cent in the 2024 budget. Chalmers has emphasised Labor’s economic credentials, noting that it has delivered two surpluses in its first term and reduced the former Coalition government’s debt by $177bn. However, the budget will be in deficit for 2024-25, and Chalmers has conceded that it is unlikely to return to surplus for at least a decade.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Trump suggests auto, pharma tariffs might not come on April 2

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Original article by
The Australian – Page: Online : 25-Mar-25

US President Donald Trump is scheduled to announce reciprocal tariffs on the nation’s trading partners on 2 April. Trump has previously stated that sector-specific tariffs will take effect at about the same time. They were expected to include the automotive and pharmaceutical sectors; however, Trump has told a cabinet meeting that automotive tariffs will be announced "very shortly", while pharmaceutical tariffs will be revealed "at some point". Shares in Tesla rallied by nearly 12 per cent in response to indications that the tariff on automobiles may not take effect in early April. A White House official has confirmed that sector-specific tariffs "may or may not happen" on 2 April, although reciprocal tariffs will be imposed from this date. Meanwhile, Trump has revealed that a "secondary tariff" of 25 per cent on countries that buy oil from Venezuela will also take effect on 2 April; he has accused the country of sending "tens of thousands" of criminals to the US.

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UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Santos seeks LNG supplies as contract expiry nears

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Original article by Colin Packham
The Australian – Page: 17 : 25-Mar-25

Santos will seek short-term gas supply contracts for its Gladstone LNG project in Queensland, as its 10-year supply deal with the Australia Pacific LNG venture is set to end in May. Another gas supply deal with AGL Energy is slated to end in 2027. However, a gas industry source has warned that the domestic market is not big enough to replace the hundreds of petajoules that Santos has acquired from APLNG and AGL under the existing supply deals. They note that Santos may have to pay more for gas, given that the market has changed substantially since the existing supply contracts were signed.

CORPORATES
SANTOS LIMITED – ASX STO, AUSTRALIA PACIFIC LNG LIMITED, AGL ENERGY LIMITED – ASX AGL

Roy Morgan Poll: ALP holds election winning lead pre-Budget despite small swing to Coalition this week: ALP 53% cf. L-NP 47%

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Mar-25

If a Federal Election were held now the ALP would be returned to Government with an increased majority with the ALP on 53% (down 1.5% from a week ago) ahead of the L-NP Coalition on 47% (up 1.5%) on a two-party preferred basis, the latest Roy Morgan survey finds. Roy Morgan Government Confidence dropped 4.5 points to 80 with only 32.5% (down 2.5%) of Australians saying the country is ‘going in the right direction’ compared to 52.5% (up 2%) that say the country is ‘going in the wrong direction’. Primary support for both major parties increased with the Coalition up 1.5% to 35.5% and the ALP up 1% to 33.5%. Support for the Greens dropped 1% to 12.5%, One Nation was down 1% to 4%, Other Parties were unchanged at 4.5% and Independents were down 0.5% to 10%.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Chris Bowen says renewables the right path despite energy price spikes

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Original article by Greg Brown,(SPACE)Colin Packham
The Australian – Page: Online : 14-Mar-25

Opposition Leader Peter Dutton said on Thursday that it was time for Energy Minister Chris Bowen to be sacked, following a draft ruling by the Australian Energy Regulator that will see electricity prices rise by as much as nine per cent from July. Dutton claimed that household power bills have gone up by as much as $1,300 under Labor, and that the Coalition will restore "balance" to the electricity sector by abandoning Labor’s 82 per cent renewables target. However, Bowen maintains Labor’s push to boost the amount of electricity that is generated from renewable energy is the right way to go in terms of getting energy prices down, and that the Coalition’s intention of keeping coal in the system for longer would result in even higher electricity costs for Australians.

CORPORATES
AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER,(SPACE)AUSTRALIAN ENERGY REGULATOR,(SPACE)AUSTRALIAN LABOR PARTY

Commission moves fast to impose dumping duties

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Original article by John Durie
The Australian – Page: 14 : 14-Mar-25

The Anti-Dumping Commission has this week declared a "preliminary affirmative determination" (PAD) against imports from China of steel clips used to attached plastic pipes for plumbing. It is the first PAD that the commission has issued in some years, and means that dumping duties can be imposed before a final decision is made. The issue of the PAD is seen as a sign that the federal government wants to put importers of steel on notice, amid fears that China and other steel exporters will try to dump their products on Australia as a result of the US decision to impose increased tariffs on steel ­imports.

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AUSTRALIA. ANTI-DUMPING COMMISSION