O75 Public Administration

Victoria’s public service wage bill to hit $45.5bn despite job cuts

roymorgansocial Leave a comment

Original article by Damon Johnston, Anthony Galloway, Lily McCaffrey
The Australian – Page: 4 : 6-May-26

The Victorian government’s budget papers show that the state’s public sector wages bill is forecast to rise from $40.3bn in the current financial year to $41.1bn in 2026-27. Employee expenses are expected to keep rising over the forward estimates period, reaching $45.5bn by 2030. This is despite the government’s public service job cuts in response to a review by former bureaucrat Helen Silver; the job cuts are estimated to have contributed to government savings of about $4bn. Treasurer Jaclyn Symes says the government had been reducing non-frontline workers across the public sector, but she stresses that it is continuing to invest in essential workers such as teachers, nurses and police officers.

CORPORATES
VICTORIA. DEPT OF TREASURY AND FINANCE

Victoria’s $199bn debt bomb explosion

roymorgansocial Leave a comment

Original article by Anthony Galloway, Damon Johnston, Lily McCaffrey
The Australian – Page: 1 & 4 : 6-May-26

The Victorian government’s budget papers show that an operating surplus of $727m is expected for 2025-26. This will rise to $1bn in 2026-27, well below the forecast of $1.9bn in the mid-year budget in December. However, the 2026-27 cash deficit – which takes into account expenditure such as infrastructure projects – is slated to be $7.7bn, although the previous forecast was $9.7bn. Meanwhile, yesterday’s state includes $13.8bn worth of new spending, while net debt is forecast to reach $199.3bn in 2030. Interest payments on this debt are expected to rise from $6.8bn in 2024-25 to $11.8bn by 2029-30.

CORPORATES

Our tolerant country is no more

roymorgansocial Leave a comment

Original article by James Dowling
The Australian – Page: 6 : 6-May-26

The Royal Commission on Anti-Semitism and Social Cohesion has heard further evidence from Jewish Australians who have been targeted due to their religion. The second day of public hearings was told that Jewish Australians have had to endure verbal abuse and death threats in public places; in one instance a victim of anti-Semitism was told by NSW police that his complaint would not be investigated because it would be a "wasted effort". The Executive Council of Australian Jewry’s co-CEO Peter Wertheim said the far right had been largely responsible for anti-Semitism in past years; however, he noted that the far left and Islamist groups have become drivers of anti-Semitism since the anti-Israel movement started to gather pace in Australia.

CORPORATES
AUSTRALIA. ROYAL COMMISSION ON ANTISEMITISM AND SOCIAL COHESION, EXECUTIVE COUNCIL OF AUSTRALIAN JEWRY

ANZ-Roy Morgan Consumer Confidence was down 0.6pts to 67.2 in early May before the Reserve Bank meeting

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 6-May-26

ANZ-Roy Morgan Consumer Confidence fell 0.6pts to 67.2 in the week to 3 May, which is the the seventh-lowest Consumer Confidence reading of all time. Consumer Confidence is now 20.3pts lower than a year ago (87.5), and 5.1pts below the 2026 weekly average of 72.3. Analysis by State shows that Consumer Confidence improved in New South Wales and South Australia, but declined in Victoria, Queensland and Western Australia. Now just 16% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 54% (unchanged) say their families are ‘worse off’. Looking forward, 20% (unchanged) of respondents expect their family to be ‘better off’ financially this time next year, while 43% (down 1ppt) expect to be ‘worse off’. Only 5% (up 1ppt) of respondents expect ‘good times’ for the Australian economy over the next 12 months, while 48% (unchanged) expect ‘bad times’. Meanwhile, 15% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 51% (unchanged) say now is a ‘bad time to buy’.

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

Handouts row: Take a hike, says Reserve

roymorgansocial Leave a comment

Original article by Matthew Cranston, Thomas Henry
The Australian – Page: 1 & 5 : 6-May-26

Treasurer Jim Chalmers says the Reserve Bank of Australia’s decision to increase the cash rate to 4.35 per cent yesterday will add to the pressure that families and businesses are already facing. He adds that the federal governments intends to play a helpful rather than harmful role in the fight against inflation. However, RBA governor Michele Bullock has cautioned against giving households more money in next week’s budget, arguing that this would make it harder for the central bank to bring inflation under control. AMP’s chief economist Shane Oliver says the government should reduce public spending in the budget to help alleviate underlying inflation pressures, while also introducing reforms aimed at boosting productivity and capacity in the economy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP

Plea for certainty on fuel excise as tourism braces for school holiday hit

roymorgansocial Leave a comment

Original article by Sarah Ison
The Australian – Page: 4 : 1-May-26

Transport & Tourism Forum CEO Margy Osmond says the federal government must soon decide whether to extend the temporary fuel excise tax reduction beyond 30 June. Osmond says the tourism industry needs more certainty regarding the excise tax relief ahead of the mid-year school holidays. The TTF has also joined forces with Accommodation Australia and the Caravan Industry Association of Australia to urge the government to develop a ­national fuel dashboard, which would allow motorists to track fuel prices and shortages across state borders.

CORPORATES
TOURISM AND TRANSPORT FORUM, ACCOMMODATION AUSTRALIA, CARAVAN INDUSTRY ASSOCIATION OF AUSTRALIA LIMITED

‘Incubated in hatred’: Warnings, risks laid bare as Bondi royal commission zeroes in on security flaws

roymorgansocial Leave a comment

Original article by Alexandra Smith, Matthew Knott, Michael McGowan
The Sydney Morning Herald – Page: Online : 1-May-26

The Royal Commission on Antisemitism and Social Cohesion’s interim report has made 14 recommendations in total, although five of them remain confidential. Amongst other things, royal commissioner Virginia Bell examined NSW Police’s response to a request from the volunteer Jewish-led Community Security Group in November 2025 for a police presence at the upcoming Hannukah celebrations at Bondi Beach. The CSG warned that a terrorist attack against the Jewish community was likely; police officers were instructed to send a "car crew or two" to Bondi on 14 December but were told that they did not need to stay for the whole event. NSW Premier Chris Minns and Prime Minister Anthony Albanese have stated that all recommendations in the interim report will be implemented in full.

CORPORATES
AUSTRALIA. ROYAL COMMISSION ON ANTISEMITISM AND SOCIAL COHESION, NEW SOUTH WALES POLICE FORCE, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Super funds set to avoid CGT change

roymorgansocial Leave a comment

Original article by John Kehoe, Lucas Baird
The Australian Financial Review – Page: 1 & 6 : 1-May-26

The federal government’s widely-tipped changes to the 50 per cent capital gains tax discount are likely to affect personal investors who have held assets such as property and shares for more than one year. However, sources claim that the government has told superannuation funds that the budget on 12 May will not include any major changes that will affect them. This suggests that super funds’ current CGT discount on their earnings will be retained. Meanwhile, Treasurer Jim Chalmers has not explicitly ruled out exempting any existing assets from potential changes to the CGT discount, although he has indicated that any impact on such assets would be minimal.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

Budget leak: Chalmers’ productivity centrepiece

roymorgansocial Leave a comment

Original article by Matthew Cranston, Greg Brown
The Australian – Page: 1 & 4 : 1-May-26

Treasurer Jim Chalmers has indicated that the federal govenment’s budget on 12 May will include a "productivity package". There is growing expectation within the business community that the focus of this package will be reducing red tape, rather than major new company tax incentives. However, Chalmers is believed to favour making the asset write-off for businesses with annual turnover of less than $10m a permanent feature of the tax system; the instant asset write-off of up to $20,000 a year was extended for 12 months in 2025. Tax & Transfer Policy Institute director Bob Breunig contends that broader tax reform than simply extending the asset write-off is needed.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF PUBLIC POLICY. TAX AND TRANSFER POLICY INSTITUTE

US seeks international help to reopen Strait of Hormuz as crude prices surge

roymorgansocial Leave a comment

Original article by Timothy Gardner
The Sydney Morning Herald – Page: Online : 1-May-26

The US is calling for other countries to form an international coalition to help reopen the Strait of Hormuz, which remains closed two months into the Iran war. France, the UK and other countries have held talks on contributing to such a coalition, but have indicated that they are only willing to help open the strait after hostilities between the US and Iran cease. The US’s push for a coalition comes as oil prices soared to their highest in more than four years. Foreign Minister Penny Wong has confirmed that Australia has been briefed by the US about its proposed coalition and was "engaging on options"; however, a government source has indicated that no decision has been made.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE