O75 Public Administration

‘Every taxpayer wins’: PM hails stage three victory

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Original article by Patrick Commins
The Australian – Page: 1 & 4 : 28-Feb-24

The federal government’s changes to the legislated stage-three personal income tax were passed by the Senate with bipartisan support on Tuesday night. Prime Minister Anthony Albanese contends that 84 per cent of Australians will get a bigger tax cut than they would have via the original version of the former Coalition government’s tax package. The government can be expected to capitalise on the stage-three changes in the final days of campaigning for the Dunkley by-election; Albanese says the changes are a win for "every single taxpayer" in the Melbourne electorate.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 83.2 in late February

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Original article by Roy Morgan
Market Research Update – Page: Online : 28-Feb-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 83.2 in the week to 25 February; the index has now spent a record 56 straight weeks below the mark of 85. Consumer Confidence is now 3.2 points above the same week a year ago (80.0), but 0.4 points below the 2024 weekly average of 83.6. Consumer Confidence was up in Victoria and Western Australia, down in Queensland and South Australia, and virtually unchanged in New South Wales. Now 20% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 53% (up 3ppts) say their families are ‘worse off’. Looking forward, 33% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 32% (down 1ppt) expect to be ‘worse off’. Now 10% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 29% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (down 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 48% (down 2ppts) say now is a ‘bad time to buy’.

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

Keep lid on the minimum wage, business urges

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Original article by Michael Read
The Australian Financial Review – Page: 5 : 27-Feb-24

Australian Chamber of Commerce & Industry CEO Andrew McKellar says the inflation outlook means it is likely to seek a lower increase in the minimum than the 3.5 per cent rise that it advocated in 2023. The Fair Work Commission increased the minimum wage and award rates by 5.75 per cent in 2023, which was the largest increase in more than a decade. Jarden’s chief economist Carlos Cacho says the minimum wage ruling could be a key factor in the outlook for wages in 2024.

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AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. FAIR WORK COMMISSION, JARDEN AND COMPANY

Named: the big businesses with (very) large gender pay gaps

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Original article by Helen Trinca
The Australian – Page: 1 & 2 : 27-Feb-24

Landmark data from the Workplace Gender Equality Agency shows that the national total median remuneration gender pay gap is 19 per cent across private sector businesses with more than 100 employees. The base salary gap is in turn 14.5 per cent. However, the gender pay gap is more than 50 per cent at 37 companies, while women are paid 40-50 per cent less than their male colleagues at 107 companies. The data shows that Macquarie Group, Telstra and Woodside Energy are among the large companies that have a significant gender pay gap. WGEA CEO Mary Wooldridge says employers ignore gender gaps at their peril, while Minister for Women Katy Gallagher says the gender pay gap costs the economy $51.8bn a year. The WGEA’s gender pay gap data in 2025 will include public sector employers.

CORPORATES
AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY, MACQUARIE ADVANCED INVESTMENT MANAGEMENT LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS, WOODSIDE ENERGY GROUP LIMITED – ASX WDS

Women’s Leadership a key factor as Roy Morgan aces the first Workplace Gender Equality Agency gender pay gap test

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Feb-24

Roy Morgan has aced the Workplace Gender Equality Agency’s first ‘gender pay gap’ test with a ‘median total remuneration gender pay gap’ of 0.0% in 2022-23, compared to the industry comparison group average of 29.3% – an outperformance of 29.3% points in favour of Roy Morgan. The ‘median base salary gender pay gap’ is also at 0.0%, compared to an industry average of 27.3%. Even more impressively, Roy Morgan’s ‘gender pay gap’ has remained at 0.0% for a third consecutive year, both for median total remuneration and median base salary. Roy Morgan understands the immense value women bring to a company in leadership roles and strives to bring talented women into the company and on pathways to managerial and executive leadership roles. This policy is succeeding and in 2022-23 Roy Morgan has an even spread of managers by gender, with nine women and nine men filling these 18 managerial roles – a 50:50 split. Roy Morgan’s board also outperforms the industry comparison when it comes to representation of women. Women comprise a clear majority of 67% of Roy Morgan’s board – more than double the average of our industry peers at only 32%.

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ROY MORGAN LIMITED, AUSTRALIA. WORKPLACE GENDER EQUALITY AGENCY

ALP and Coalition can’t be split Federally as parties contest Dunkley by-election: ALP 50% cf. L-NP 50%

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Feb-24

Support for the ALP has dropped 2.5% to 50% and the party is now even with the L-NP 50% (up 2.5%) on a two-party preferred basis. If a Federal Election was held now we would have a hung Parliament with minor parties and independents deciding who would be our next Government, the latest Roy Morgan survey shows. There were big swings against the ALP in New South Wales and Victoria after asylum seeker boats landed in Western Australia and Opposition Leader Peter Dutton ‘hammered’ the Albanese Government all week over the failures in border protection policies. There were also significant anti-Semitic protests in Sydney and Melbourne last week as well as extensive blackouts of hundreds of thousands of people in Victoria due to heavy storms throughout the State. The swing in Victoria suggests a closer than expected by-election in the seat of Dunkley – although the ALP still leads 51.5% cf. L-NP 48.5% in Victoria. Primary support for the Coalition increased 1% to 38% – it’s highest for over a year, while support for the ALP dropped significantly, down 2.5% to 31.5%. The Greens were down 1% to 12%, One Nation increased 1% to 5% and support for Independents & Other Parties was up 1.5% to 13.5%. The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,682 Australian electors from February 19-25. Further details will be released in Roy Morgan’s weekly video update presented by CEO Michele Levine.

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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

Households face income pain until 2027: economists

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Original article by Michael Read
The Australian Financial Review – Page: 6 : 21-Feb-24

Analysis suggests that Australian real household incomes fell by 6.1 per cent in the year to September 2023, when adjusted for inflation and population growth. Real household incomes have now fallen for eight consecutive quarters, returning this metric to 2017 levels. Independent economist Chris Richardson does not expect real household incomes to return to pre-pandemic level until 2027; he adds while the revised stage-three tax cuts in mid-2024 will provide some relief for households, productivity growth will be necessary to boost living standards in the long-term. Deloitte Access Economics partner Stephen Smith in turn forecasts that household incomes will return to pre-pandemic levels by September 2025.

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DELOITTE ACCESS ECONOMICS PTY LTD

Roy Morgan wins three-year contract to deliver domestic tourism statistics for Austrade

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Feb-24

From 2025, Roy Morgan will provide Austrade with the world’s best practice survey methodology, big data integration and modelling techniques to deliver accurate domestic tourism statistics. Roy Morgan has reimagined the future of domestic tourism statistics to move Austrade and its stakeholders to the forefront of tourism intelligence with a new platform that will drive the future of Australia’s tourism industry, which is estimated to be worth in excess of $160 billion. Portia Morgan, the Head of Client Services at Roy Morgan, says that using face-to-face interviewing, which is the gold-standard for surveying the population, enhanced with big data and cutting-edge data science techniques, Roy Morgan will be delivering a future-proofed system that will be cost effective, reliable, and accurate. She adds that Roy Morgan has been delivering survey-based tourism insights via its Holiday Tracking Survey for 20+ years and the company is thrilled to be working with Austrade and the broader industry to provide a deeper of understanding of how many people are travelling, where they go, what they do and how they spend their valuable tourism dollars.

CORPORATES
ROY MORGAN LIMITED, AUSTRADE

Roy Morgan Business Confidence increased 2.1pts to 93.2 in January – now at its highest since August 2023

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Feb-24

In January 2024, Roy Morgan Business Confidence was 93.2 (up 2.1pts since December). This was the second consecutive monthly increase in Business Confidence, and the first time the index has increased for two straight months since early last year. However, despite the increase, Business Confidence has now spent a record 12 consecutive months below the neutral level of 100; this is the longest stretch in negative territory in the history of the index, which dates back to 2010. Business Confidence is also now 18pts below the long-term average of 111.2, and down 3.2pts since January 2023. Businesses remain concerned about the performance of the Australian economy, with 59.5% expecting ‘bad times’ for the economy over the next year and 56.7% expecting ‘bad times’ for the economy over the next five years. Nevertheless, businesses remain relatively positive about their own prospects over the next year; 42.3% say they will be ‘better off’ financially this time next year, while only 25.0% say they will be ‘worse off’ – a positive net rating of 17.3% points. The Roy Morgan Business Confidence results for January are based on 1,609 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 82.8 in mid-February

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Feb-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 82.8 in the week to 18 February; it has now spent a record 55 straight weeks below the mark of 85. Consumer Confidence is now 2.4 points above the same week a year ago (80.4), but 0.8 points below the 2024 weekly average of 83.6. Consumer Confidence was up in New South Wales and Queensland, but down in Victoria, WA and SA – the opposite result compared to a week ago. Now 20% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 50% (down 2ppts) say their families are ‘worse off’. Looking forward, 33% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (down 1ppt) expect to be ‘worse off’. Now 10% (down 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 31% (up 2ppts) expect ‘bad times’. Meanwhile, 23% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 50% (down 1ppt) say now is a ‘bad time to buy’.

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