O75 Public Administration

NACC for Higgins compo deal truth

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Original article by Ellie Dudley
The Australian – Page: 1 & 4 : 17-Apr-24

Former NSW judge Anthony Whealy says the $2.445m compensation payout to alleged rape victim Brittany Higgins should be investigated by the National Anti-Corruption Commission. Healy says the NACC could not "ignore altogether" the findings of Federal Court judge Michael Lee in Bruce Lehrmann’s failed defamation case against the Ten Network; Justice Lee found that Higgins had told a number of untruths regarding the alleged incident at Parliament House in March 2019. Former Western Australian judge Kenneth Martin in turn says Justice Lee’s findings mean that the federal government may be able to seek to recover the payout to the former Liberal staffer.

CORPORATES
AUSTRALIA. NATIONAL ANTI-CORRUPTION COMMISSION, FEDERAL COURT OF AUSTRALIA, TEN NETWORK HOLDINGS LIMITED

ANZ-Roy Morgan Consumer Confidence up 1.6 points to 83.5 – the highest for over two months since early February

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Apr-24

ANZ-Roy Morgan Consumer Confidence rose 1.6pts to 83.5 in the week to 14 April; however, despite the increase the index has now spent a record 63 straight weeks below the mark of 85. Consumer Confidence is now 6.3 points above the same week a year ago (77.2), and virtually identical to the 2024 weekly average of 83.0. Consumer Confidence was up in New South Wales, Victoria and Queensland, but down in Western Australia and South Australia. Now 22% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 50% (down 3ppts) say their families are ‘worse off’. Looking forward, 33% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (unchanged) expect to be ‘worse off’. Now 11% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 33% (up 2ppts) expect ‘bad times’. Meanwhile, 23% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 47% (unchanged) say now is a ‘bad time to buy’.

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

Roy Morgan Business Confidence drops 3.5pts to 98.0 in March as the index fails to build on momentum of positive result in February

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Apr-24

In March 2024, Roy Morgan Business Confidence was 98.0 (down 3.5pts since February) as the index fell back into negative territory despite the Reserve Bank leaving interest rates unchanged. Business Confidence is now 13.2pts below the long-term average of 111.24). However, Business Confidence is up 4.4pts since March 2023. Driving the index lower in March was less confidence about the performance of the Australian economy. Now 43.9% (down 3.7ppts) of businesses expect ‘good times’ for the economy over the next year, while just 38.9% (down 4.3ppts) expect ‘good times’ over the next five years. In contrast to the economy more broadly, businesses have grown significantly more confident about their own prospects over the year ahead, with 49.6% (up 4.8ppts) expecting to be ‘better off’ this time next year; this is the highest rating for this indicator since February 2022. The latest Roy Morgan Business Confidence results for March are based on 1,605 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

IMF warns of stalling progress to reduce inflation

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Original article by Patrick Commins
The Australian – Page: 2 : 17-Apr-24

The International Monetary Fund now expects global economic growth of 3.2 per cent in both 2024 and 2025. However, the IMF notes that the outlook remains uncertain due to factors such as China’s embattled property sector and the risk that wars in Europe and the Middle East will escalate. The IMF’s latest World Economic Outlook report also notes that the global economy is still "remarkably resilient", and it is optimistic that central banks will be able to achieve a soft landing for economies. The IMF has forecast economic growth of 1.5 per cent for Australia in 2024, and two per cent next year.

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INTERNATIONAL MONETARY FUND

US and EU consider new sanctions against Iran after its air attack on Israel

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Original article by Peter Beaumont, Julian Borger
The Guardian – Page: Online : 17-Apr-24

The Israeli government has advised that it is still considering its response to Iran’s recent missile and drone attack; however, Israel says its response will be ‘calibrated’ to limit further escalation of the conflict in the Middle East. Meanwhile, US treasury secretary Janet Yellen says sanctions will be part of the Biden administration’s strategy to disrupt Iran’s "malign and destabilising activity". The European Union is also considering new sanctions on Iran, which has indicated that the attack on Israel was justified due to the recent airstrike on its consulate in Syria.

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UNITED STATES. DEPT OF THE TREASURY

Made in Australia ‘a bit risky’: former RBA boss

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Original article by Michael Read
The Australian Financial Review – Page: 5 : 16-Apr-24

The federal government’s proposed Future Made in Australia Act has come under fire from former Reserve Bank of Australia governor Bernie Fraser, who contends that it represents a risk to taxpayers. Fraser says governments do not have a good track record when it comes to ‘picking winners’ in terms of identifying successful industry sectors. AMP’s chief economist Shane Oliver has described the policy as "depressing".

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RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP

Agreement nears on doubling leave

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 16-Apr-24

The Fair Work Commission is considering a proposal that would insert the right into industry awards for greater flexibility in terms of paid time off, with the possibility that staff could double their leave by taking half of it at half pay. Unions and employer groups are understood to be in agreeance that the right to request leave at half pay should lie with the employee rather than the employer, but Australian Industry Group CEO Innes Willox says it is essential that such arrangements are by agreement, given that employers may find it hard to accommodate longer staff absences.

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AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP

Police head north to find motive for Bondi Junction massacre

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Original article by Sam McKeith, Jack Gramenz
The New Daily – Page: Online : 16-Apr-24

NSW Premier Chris Minns has advised that the state government will hold a special coronial inquiry into Joel Cauchi’s knife attack at Westfield Bondi Junction. The government will allocate up to $18m in extra funding for the inquiry, which amongst other things will examine the police response to the attack. Meanwhile, NSW police will travel to Queensland to talk to Cauchi’s family and friends as they seek to determine his motive for the attack. Minns says the motive might never be known, although he notes that Cauchi seems to have targeted women. Cauchi killed five women and one man, while eight of the 12 people who suffered stab wounds are still in hospital.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Swing to Coalition continues as two-party preferred lead over ALP increases: L-NP 51% cf. ALP 49%

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Apr-24

Support for the Coalition has increased by 0.5% to 51% to edge further ahead of the ALP on 49% on a two-party preferred basis, according to the latest Roy Morgan survey. If a Federal Election were held now the result would be too close to call, with a hung parliament and the support of minor parties and independents required for either the ALP or Coalition to form a minority government. Primary support for both major parties increased marginally this week, with the Coalition up 0.5% to 38.5% and the ALP up 0.5% to 30%. Support for the Greens was unchanged at 13.5% while One Nation was down 0.5% to 5.5% – both these minor parties are above their result at the last Federal Election. Support for Independents was down 1.5% to 7.5%, while support for Other Parties increased 1% to 5%. The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,706 Australian electors from April 8-14. Most of the interviews were conducted before Foreign Minister Penny Wong suggested that Australia could recognise a Palestinian State, and before the tragedy at Westfield Bondi Junction on the weekend where six people were stabbed to death and more hospitalised.

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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

Israel warned to hold its fire

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Original article by Danny Kemp
The Australian – Page: 11 : 16-Apr-24

The US has told Israel it will not be part of any response against Iran, following the Iranian attack on Saturday that saw over 300 drones and missiles fired towards ­Israel, while UN secretary-­general, Antonio Guterres has told the UN Security Council that "now is the time to defuse and de-escalate". Israel’s UN envoy, Gilad Erdad, has urged the council to impose all possible sanctions on Iran, while Iran has stated the attack was in response to an airstrike on its consulate in the Syrian capital of Damascus on 1 April that left seven Iranian Revolutionary Guards dead and which was widely blamed on Israel.

CORPORATES
UNITED NATIONS