Author: roymorgansocial

Labor rules out $30b tax cuts

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Original article by Phillip Coorey, John Kehoe
The Australian Financial Review – Page: 1 & 5 : 9-Apr-19

Labor will not implement the second and third stages of the federal government’s income tax cuts package if it wins the upcoming election. The third stage of the tax cuts is slated to take effect in mid-2024, and would introduce a flat rate of 30 per cent for all people with income of $45,000 to $200,000. The Parliamentary Budget Office’s costings show that the stage three tax cuts would cost about $147.2bn in the first five years. Shadow treasurer Chris Bowen says high-income earners would benefit the most from the stage three tax cuts.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GRATTAN INSTITUTE, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Lynas caves in over local processing

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Original article by Paul Garvey
The Australian – Page: 17 & 20 : 9-Apr-19

Dylan Kelly of CLSA estimates that Lynas Corporation will incur costs of about $100m if it shifts the ‘cracking and leaching’ part of its rare earths processing operation from Malaysia to Australia. Malaysian Prime Minister Mahathir Mohamad recently signalled that Lynas will be able to keep its processing plant open provided that early-stage processing is carried out in Australia. Lynas suitor Wesfarmers committed to undertaking this stage of processing in Australia in talks with the Malaysian Government.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES, MALAYSIA. DEPT OF THE PRIME MINISTER, CLSA AUSTRALIA PTY LTD, GREENCAPE CAPITAL PTY LTD, JAPAN AUSTRALIA RARE EARTHS, JAPAN OIL GAS AND METALS NATIONAL CORPORATION, SOJITZ CORPORATION

Budget delivers 2.5% swing to the L-NP but ALP still lead on a two party preferred basis: ALP 52.5% cf. L-NP 47.5%

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A face-to-face Roy Morgan Poll conducted over the weekend of April 6/7, 2019 with 809 Australian electors shows the ALP 52.5% (down 2.5% from before the Federal Budget) lead the L-NP 47.5% (up 2.5%) on a two-party preferred basis.

The ALP has a primary vote of 35% (down 1.5%) now just behind the L-NP on 37% (up 2.5%). Support for the Greens is up by 1% to 13.5%.

Support for the minor parties is led by One Nation on 4% (up 0.5%), ahead of Clive Palmer’s United Australian Party on 1.5% (down 0.5%), Australian Conservatives on 1% (unchanged) and Katter’s Australian Party 0.5% (unchanged). A further 7.5% (down 2%) support Independents and micro parties.

Right Direction down 1% as Government Confidence dips to 99.5

Following the Federal Budget Roy Morgan’s Government Confidence Rating was down by 2pts to 99.5 for the weekend of April 6/7, 2019.

Now 40.5% (down 1%) of electors say ‘Australia is heading in the ‘right direction’ and 41% (up 1%) say Australia is heading in the wrong direction’ and 18.5% (unchanged) can’t say.

Government Confidence for L-NP supporters was down slightly by 2pts to 124.5 with 54.5% (unchanged) of L-NP supporters saying ‘Australia is heading in the right direction’ compared to 30% (up 2%) that say ‘Australia is heading in the wrong direction’.

Government Confidence for ALP supporters was down by 5pts to 93 with 37.5% (down 2.5%) saying ‘Australia is heading in the right direction’ and 44.5% (up 2.5%) that say ‘Australia is heading in the wrong direction’.

Electors were asked: “If an election for the House of Representatives were held today – which party will receive your first preference? and “Generally speaking, do you feel that things in Australia are heading in the right direction or would you say things are seriously heading in the wrong direction?”

This Roy Morgan Poll on Federal voting intention and Roy Morgan Government Confidence was conducted via face-to-face interviewing on the first weekend of April. Roy Morgan interviewed 829 Australian electors aged 18+ on the weekends of April 6/7, 2019. 4.5% of electors can’t say who they support.

Visit the Roy Morgan Online Store to browse our range of Voter Profiles by electorate, detailed Voting Intention Demographics Reports and Most important Political Issue Reports (all 151 electorates ranked by an issue).

Chinese investment at decade low

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Original article by Michael Smith
The Australian Financial Review – Page: 11 : 8-Apr-19

Chinese investment in Australia in 2018 fell by 36.3 per cent, according to a report by KPMG and the University of Sydney. The fall was despite Chinese global outbound direct investment rising by 4.2 per cent in 2018. Chinese-state owned companies are being directed to invest in Belt and Road infrastructure projects in Asia and central Europe, while private companies are focusing on healthcare and technology transactions.

CORPORATES
KPMG AUSTRALIA PTY LTD, UNIVERSITY OF SYDNEY, CDH INVESTMENTS FUND MANAGEMENT COMPANY, SIRTEX MEDICAL LIMITED, YUHU GROUP (AUSTRALIA) PTY LTD, DALIAN WANDA GROUP COMPANY LIMITED, ENN GROUP, SANTOS LIMITED – ASX STO

Nod for Adani is unlikely before poll

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 8-Apr-19

Adani Mining had hoped that final approvals for its $2 billion Carmichael coal mine would have been finalised prior to Christmas 2018. However, it appears unlikely that approvals will be forthcoming before the federal election. Federal Environment Minister Melissa Price is yet to sign off on a groundwater management plan for the mine, while the Queensland Government is yet to approve a plan for the black-throated finch. The state government must also co-sign the groundwater management plan.

CORPORATES
ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE TREASURY, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, AUSTRALIAN GREENS

IMF warns on housing slide

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 2 : 8-Apr-19

The International Monetary Fund is expected to downgrade its forecast for the Australian economy in its latest World Economic Outlook. Thomas Helbling, the IMF’s lead economist for Australia, warns that the nation’s housing market downturn has been more severe than anticipated and it has occured sooner than expected. He says the property market downturn will need to be offset via government policies aimed at stimulating the economy, such as increased investment in infrastructure. Helbling has also raised the possibility of interest rate cuts.

CORPORATES
INTERNATIONAL MONETARY FUND

Business Confidence up slightly in March at 106.7 (pre-Budget)

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Apr-19

In Australia, Business Confidence rose 1.1pts to 106.7 in March 2019, according to the latest Roy Morgan Business Single Source survey. Business Confidence is now 8.7pts below its level of March 2018 and 9.1pts below its long-term average of 115.8. In addition, the average Business Confidence during the March quarter of only 106.1 is the weakest start to a year in the history of the Index. Now 49.6% (down 1.1ppts) of businesses expect the business to be ‘better off’ financially this time next year, while just 24% (up 0.2ppts) expect the business to be ‘worse off’ financially. Meanwhile, 45.6% (up 4.9ppts) of businesses expect the Australian economy to have ‘good times’ over the next year, while 48.6% (down 4.6ppts) expect the economy to have ‘bad times’. Roy Morgan CEO Michele Levine says April and May are set to be dominated by the looming Federal Election, and the continuing political uncertainty is likely to prevent any significant moves either up or down for Business Confidence.

CORPORATES
ROY MORGAN LIMITED

Nurses taxed $2000 more under Labor

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 6 : 8-Apr-19

Taxation is set to be a key issue during the upcoming federal election, with Prime Minister Scott Morrison stating that the Coalition will drive economic growth via lower taxes. Labor in turn has criticised the Coalition’s income tax package, arguing amongst other things that it favours people on high incomes and it will not be fully implemented until 2024. Meanwhile, analysis suggests that the average full-time worker who is earning $100,000 a year in 2024 would be more than $2,000 a year worse off under Labor’s tax policy.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Satisfaction with industry funds increasing while total market satisfaction declines

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Apr-19

The latest findings from ‘The Roy Morgan Superannuation Satisfaction Report’ shows that industry funds improved their satisfaction rating by 0.9% points (to 62.1%) in the year to February 2019. Satisfaction with retail funds fell to 55.7% (down 3.5% points), and satisfaction with self-managed super funds was 73.4% (down 0.1%). The report shows that industry funds have higher satisfaction than retail funds across all balances. Over the last year, retail funds have shown declines in satisfaction at all levels, with the biggest decline being a drop of 14.3% for members with balances of less than $5,000. There was also an 8.0% point decline for those with balances of $700,000 or more. Meanwhile, of the 15 best performing industry and retail funds, Unisuper with a satisfaction rating of 71.2% was well ahead of second placed HESTA (68.3%) and Cbus (66.6%). The report is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including over 30,000 superannuation fund members.

CORPORATES
ROY MORGAN LIMITED, UNISUPER LIMITED, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND

Violent net video ban faces review

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Original article by Andrew White
The Australian – Page: 25 : 8-Apr-19

Both sides of politics have committed to a parliamentary review of the Sharing of Abhorrent Violent Material legislation after the federal election. Alliance for Journalists’ Freedom co-founder Peter Greste warns that although the legislation provides defences for legitimate journalism, it will still require media organisations to defend themselves in court. He adds that cash-strapped newsrooms are now less likely to do so than in the past. The legislation was introduced in response to the live-streaming of the Christchurch mosque shootings on social media.

CORPORATES
ALLIANCE FOR JOURNALISTS’ FREEDOM, UNIVERSITY OF QUEENSLAND, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ATTORNEY-GENERAL’S DEPT