O75 Public Administration

Foreign agents planting digital mines in key tech

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Original article by Liam Mendes, Ellen Whinnett
The Australian – Page: 1 & 4 : 1-Nov-23

The Cyber and Infrastructure Security Centre has warned that Australia’s critical infrastructure is under serious threat from foreign interference and espionage. The CISC’s inagural annual risk review notes that the nation’s critical infrastructure sectors are deeply interconnected, so a significant disruption in one sector will affect others. Concerns have also been raised that foreign players have planted ‘digital landmines’ in Australia’s critical infrastructure that could be triggered in the future.

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CYBER AND INFRASTRUCTURE SECURITY CENTRE

ANZ-Roy Morgan Consumer Confidence down 3.2pts to 75.0 – lowest since early August 2023

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Nov-23

ANZ-Roy Morgan Consumer Confidence fell 3.2pts to 75.0 in the week to 29 October; it has now spent 39 straight weeks below the mark of 85 – equalling the longest streak at this level set in 1990-91. Consumer Confidence is 4.9pts below the same week a year ago (79.9), and it is now clearly below the 2023 weekly average of 78.1. Consumer Confidence was down in NSW, Victoria, South Australia and Western Australia, but increased slightly in Queensland. Now 17% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 56% (up 3ppts) say their families are ‘worse off’ financially. Only 6% (down 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 40% (up 4ppts) expect ‘bad times’. Meanwhile, 18% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 54% (up 4ppts) say now is a ‘bad time to buy’.

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

End game trade deal with EU collapses as both sides walk away

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Original article by Rachel Clun
The Sydney Morning Herald – Page: Online : 30-Oct-23

A free trade deal between Australia and the European Union could be some years away, after talks between Trade Minister Don Farrell and European Commission executive vice-president Valdis Dombrovskis broke down in Osaka on Sunday. Farrell had said prior to their meeting that he hoped he and Dombrovskis could make a deal, but he said afterwards that the two were not able to make progress. National Farmers’ Federation president Fiona Simson had told the National Press Club on 24 October that there was no Australian agriculture sector that was getting a good deal under what the EU was currently offering.

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AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, NATIONAL FARMERS’ FEDERATION LIMITED

Global pressures on PM’s domestic agenda

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Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 30-Oct-23

Prime Minister Anthony Albanese has defended his hectic overseas travel schedule, arguing that personally engaging with world leaders is critical at a time of significant economic and security shocks. Albanese has come under scrutiny over his international travel itenary amid the domestic cost-of-living crisis, a high inflation rate and rising oil prices. Albanese recently returned from his first official visit to the US, while his upcoming trip to China will be the first by an Australian prime minister since 2016. Albanese used a speech on his final day in Washington to emphasise the need to engage with China and to develop understanding, given that the nation accounts for 25 per cent of Australia’s exports. Albanese will also attend the Pacific Islands Forum and the APEC summit in coming weeks.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan New Zealand Consumer Confidence up 1.7pts to 88.1 in October

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-Oct-23

ANZ-Roy Morgan New Zealand Consumer Confidence rose 1.7 points in October to 88.1. Consumers’ net perceptions of their current personal financial situation fell 2 points to -25%. A net 22% (down 2% points) of New Zealanders now say they are ‘better off’ financially than this time last year, while 47% (up 1% point) say they are ‘worse off’ financially. Meanwhile, a net 16% of consumers now expect to be ‘better off financially’ this time next year, up 1 point. A net 38% (up 6% points) of New Zealanders say now is a ‘bad time to buy a major household item’, but net perceptions regarding New Zealand’s economic outlook in 12 months’ time rose 14 points to -18%. The two-year-ahead CPI inflation expectations lifted from 4.2% to 4.5%, undoing most of the previous month’s fall.

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

Israel enters second stage of war

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Original article by Ronald Mizen
The Australian Financial Review – Page: 1 & 14 : 30-Oct-23

Israeli Defence Forces troops have engaged in direct combat with Hamas militants in northern Gaza, supported by tanks and airstrikes on more than 450 locations. The IDF’s Lieutenant General Herzi Halevi says Israeli soldiers have killed "hundreds" of terrorists in the first major ground incursion of the war. Israeli Prime Minister Benjamin Netanyahu has described it as his nation’s ”second independence war", and stated that Israel’s campaign to "abolish evil" is "only just beginning". Israel had previously only conducted small-scale incursions into Gaza, and Netanyahu says this stage of the war is aimed at destroying the governing and military capabilities of Hamas and to bring hostages home.

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ISRAELI DEFENCE FORCES

ACTU calls for fairer, stronger IR reform

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Original article by Ewin Hannan
The Australian – Page: 6 : 25-Oct-23

The ACTU has used its submission to the Senate’s inquiry into the Closing Loopholes Bill to propose 44 amendments that it claims would improve the legislation. Amongst other things, the peak union body wants the "employee-like" provisions of the bill to be expanded to all employees with such arrangements, rather than just gig economy workers. It also wants the Fair Work Commission to have powers to arbitrate on the question of whether a worker is an employee or an independent contractor, and for superannuation to be included in the provisions of the bill regarding wage theft.

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ACTU, AUSTRALIA. FAIR WORK COMMISSION

Migrant intake has already hit record 500k

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Original article by Michael Read, Tom McIlroy
The Australian Financial Review – Page: 6 : 25-Oct-23

The Treasury has previously forecast that net overseas migration totalled 400,000 in the year to June. However, former Immigration Department official Abul Rizvi estimates that net overseas migration topped 470,000 in the year to June; he adds that the migrant intake probably reached 500,000 in the year to September. Rizvi also believes that the Treasury’s forecast that the annual migrant intake will fall to 315,000 by June 2024 is unlikely to be realised. Brendan Coates from the Grattan Institute says Australia’s record migrant intake will increase housing demand and put upward pressure on the inflation rate.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HOME AFFAIRS, GRATTAN INSTITUTE

Inflation Expectations in mid-October at 5.7% – significantly higher than in September (5.2%)

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Oct-23

The latest weekly Inflation Expectations are at 5.7% for the week of October 16-22 – up 0.4% points from a week ago. This is the highest weekly Inflation Expectations have been since the first week of July. However, a look at the monthly Inflation Expectations for September shows that the measure was down 0.2% points to 5.2%. In the month of September, Australians expected inflation of 5.2% annually over the next two years. This decline in Inflation Expectations in the month of September is important given that the monthly ABS CPI estimate for September is set to be released on Wednesday. The ABS monthly CPI estimate for August was 5.2%, up from 4.9% in the year to July. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source which has interviewed an average of around 5,000 Australians aged 14+ per month over the last decade and includes interviews with 6,025 Australians aged 14+ in September 2023.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Reserve will not hesitate to hike

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Original article by Patrick Commins
The Australian – Page: 1 : 25-Oct-23

Reserve Bank of Australia governor Michele Bullock has used her first public speech in the role to emphasise that the central bank will increase the cash rate again if it is deemed necessary in order to curb inflation. Bullock conceded that there is a risk that inflation could return to the RBA’s target range more slowly than is currently forecast. Meanwhile, Treasurer Jim Chalmers says inflation is likely to remain higher and for longer than the government would like; however, he says Australia is in a position of relative strength due to the foundations the government has laid in the last 12 months. CPI data to be released on Wednesday is likely to be a key factor in the RBA’s monetary policy decision on 7 November.

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RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY