O75 Public Administration

Union fights BHP labour-hire pay

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 2 : 24-May-23

The Mining & Energy Union has applied to the Fair Work Commission to hold a ballot on protected industrial action against BHP regarding its in-house labour hire firm. The proposed industrial action by employees of BHP’s Operation Services division follows nearly six months of negotiations over a new pay deal, which has been rejected by a majority of the 4,500-strong workforce. The union also wants the FWC to reject a new maintenance agreement that was backed by a majority of OS staff in March; the union contends that BHP did not properly explain to workers the difference in pay and hours between the industry award and this agreement.

CORPORATES
BHP GROUP LIMITED – ASX BHP, MINING AND ENERGY UNION, AUSTRALIA. FAIR WORK COMMISSION

Support for the Andrews Government up since the Victorian Election; Pesutto’s handling of Moira Deeming had a negative impact on his job approval as leader

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-May-23

A Roy Morgan Snap SMS Poll shows that support for the ALP Government in Victoria has increased to 61.5% (up 6.5% points since the 2022 state election) on a two-party preferred basis; support for the Liberal-National Coalition is on 38.5% (down 6.5% points). Primary vote support for the ALP has increased by 5.3% points to 42% since the election, while support for the L-NP Coalition is down 6% points to 28.5%. Support for the Greens is up 1% point to 12.5%, while support for other minor parties and independents attracts 17% of the vote (down 0.3% points). Meanwhile, Premier Daniel Andrews has a large lead over Opposition leader John Pesutto as the preferred Premier in the first head-to-head poll Roy Morgan has conducted between the two leaders. Now 64% of electors say Andrews would make the ‘Better Premier’, compared to only 36% who say Pesutto. Now 52.5% (down 5% points since November) of Victorian electors approve of the way Andrews is handling his job, while 47.5% (up 5% points) disapprove. In contrast, a majority of 53.5% of Victorian electors disapprove of the job Pesutto is doing, and only 46.5% approve. This Roy Morgan Snap SMS Poll was conducted from May 17-22, 2023, with a Victoria-wide cross-section of 2,095 Victorian electors aged 18+.

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ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF VICTORIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, VICTORIA. DEPT OF PREMIER AND CABINET

Heavy price as cash crisis crushes Victoria

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Original article by Shannon Deery
Herald Sun – Page: 7 : 24-May-23

Victoria’s Treasurer Tim Pallas says the Covid debt levies announced in the state’s 2023 budget are temporary, targeted and responsible. Victorians who own holiday homes and investment properties will pay a new land tax which is expected to raise around $4.7bn over the forward estimates period and will remain in place for a decade. There are fears that the levy will worsen the housing crisis by pushing up rents and deterring investment in the rental market. The government also expects to raise $3.9bn via a new payroll tax levy on businesses with a wages bills of more than $10m. The state’s own wages bill is forecast to rise by $5bn over the next four years, despite plans to shed up to 4,000 public sector jobs. Opposition leader John Pesutto says the budget is mean and nasty, adding that it shows that Victoria is broke.

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VICTORIA. DEPT OF TREASURY AND FINANCE, LIBERAL PARTY OF VICTORIA

Stage-three tax cuts cost blowout predicted with the wealthy and men to benefit most

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Original article by Paul Karp
The Guardian Australia – Page: Online : 17-May-23

The Parliamentary Budget Office’s latest analysis of the legislated stage-three personal income cuts is that the package will cost $313bn over a decade. This compares with a previous estimated of $254bn, released in October 2022. The PBO’s analysis was undertaken on behalf of the Greens, and concludes that men will receive 65 per cent of the tax cuts over 10 years, or $203.7bn of the total. People in the highest income brackets are also set to gain the most benefit from the tax package. Greens leader Adam Bandt describes the stage-three tax cuts as a "massive black hole", and argues that the money should be spent on services for all Australians rather than benefiting the wealthy.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN GREENS

Inflation Expectations dropped 0.3% points to 5.3% in April 2023

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-May-23

In April 2023, Australians expected inflation of 5.3% annually over the next two years, down 0.3% points from March. The monthly decrease in Inflation Expectations came before the RBA decided to increase interest rates in early May and before last week’s Federal Budget. The monthly decrease in April has been sustained in the first two weeks of May, with weekly Inflation Expectations still at 5.3% in mid-May and averaging 5.3% since late March. A look at Inflation Expectations on a State-based level shows Inflation Expectations declining in most States in April; however, Queensland and Tasmania bucked the trend. A key factor to take account of is that Queensland and Tasmania are the two most decentralised States in Australia, with the majority of the population living outside the respective Capital Cities. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source, which has interviewed an average of around 4,900 Australians aged 14+ per month over the last decade and includes interviews with 7,489 Australians aged 14+ in April.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

BCA pushes against same job, same pay law

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 17-May-23

The Business Council of Australia contends that the federal government’s proposed ‘same job, same pay’ laws for labour hire firms are not necessary. The BCA has used its submission to a consultation paper on the reforms to argue that they could have unintended consequences, such as the increased use of casual labour and fewer enterprise agreements. The BCA also says the reforms should be restricted to traditional labour hire firms rather than including in-house ones such as BHP’s Operations Services division. The labour hire changes will be a key part of the government’s second tranche of industrial relations reforms.

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BUSINESS COUNCIL OF AUSTRALIA

Kickstart productivity or be kicked: RBA

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Original article by Patrick Commins, Giuseppe Tauriello
The Australian – Page: 1 & 4 : 17-May-23

The minutes from the Reserve Bank of Australia’s latest board meeting show that the decision to increase the cash rate by 25 basis points in May was a "finely balanced" one. Amongst other things, the board members noted that the nation’s declining productivity since the onset of the COVID-19 pandemic could make it difficult to bring inflation back under control. The RBA has warned that further interest rate increases are likely unless productivity is ‘kickstarted’. Analysts believe that quarterly wage price index data to be released on Wednesday could determine whether the RBA increases the cash rate in June.

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RESERVE BANK OF AUSTRALIA

No Budget Bounce as ANZ-Roy Morgan Consumer Confidence down 1.8pts to 75.9 – lowest since early April 2020

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-May-23

ANZ-Roy Morgan Consumer Confidence fell 1.8pts to 75.9 in the week to 14 May. The index has now spent 11 straight weeks below the mark of 80 – the longest stretch below 80 since the index began being conducted on a weekly rather than a monthly basis in October 2008. Consumer Confidence is now 13.4pts below the same week a year ago (89.3), and 4.4pts below the 2023 weekly average of 80.3. Consumer Confidence was down in NSW, Queensland, WA and SA; however, it was up in Victoria. Now 17% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator since April 2020), while 56% (up 3ppts) say their families are ‘worse off’ financially (a new record high for this indicator). Some 30% (down 2ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 37% (up 3ppts) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 37% (down 1ppt) expect ‘bad times’. Meanwhile, 18% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 55% (up 2ppts) say now is a ‘bad time to buy’.

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

Rinehart’s dire mining prediction

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Original article by John Stensholt
The Australian – Page: 13 & 18 : 17-May-23

Mining magnate Gina Rinehart notes that mining capital expenditure is currently about $40bn a year, compared with more than $100bn annually at the peak of the previous mining boom about a decade ago. Rinehart describes the $60bn investment gap as a missed opportunity for Australia. She contends that government policy needs to be more supportive of the resources sector if Australia is to continue to produce future-facing commodities that are needed for the energy transition. Rinehart adds that the remaining mine life of Hancock Prospecting’s Roy Hill project is about 10 years, but this can be extended if the regulatory regime is more amenable.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD

ANZ-Roy Morgan Consumer Confidence down 2.1pts to 77.7 after the RBA unexpectedly increases interest rates again

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-May-23

ANZ-Roy Morgan Consumer Confidence fell 2.1pts to 77.7 in the week to 7 May. The index has now spent 10 straight weeks below the mark of 80 – the longest stretch below 80 since the index began being conducted on a weekly rather than a monthly basis in October 2008. Consumer Confidence is now 12.8pts below the same week a year ago (90.5), and 2.9pts below the 2023 weekly average of 80.6. As usual Consumer Confidence was mixed around the States, with decreases in Victoria, WA and SA, but up slightly in NSW and Queensland. Now 19% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 53% (up 3ppts) say their families are ‘worse off’ financially. Some 32% (up 1ppt) of Australians now expect their family to be ‘better off’ financially this time next year, while 34% (unchanged) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 38% (up 3ppts) expect ‘bad times’. Meanwhile, 18% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 53% (up 1ppt) say now is a ‘bad time to buy’.

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