O75 Public Administration

No Covid re-run: Social, market researchers on consumer mood say 70% tightening belts; young men stressed, third-life crisis at 30 – but 24% free-spending so category discounts not required

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

Roy Morgan CEO Michele Levine, Southern Cross Austereo’s Jasmine Beech and veteran qualitative consumer researcher Neer Korn unpack what’s coming down the track in a new podcast. Social market researchers think the deepening cost of living crisis will play out very differently to Covid. But there are parallels with previous bust cycles. The "lipstick effect" comes into play, and certain categories – homeware, necessities, some everyday luxury branded goods – should hold up. While 70 per cent of Australians report making some cutbacks, a quarter of the population will keep spending – and brands shouldn’t think about discounting to that cohort. For the broader population, retailers must communicate price hikes honestly or lose community trust earned during Covid.

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ROY MORGAN LIMITED, SOUTHERN CROSS AUSTEREO PTY LTD

Climate change bill set to pass

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Original article by Geoff Chambers, Rosie Lewis
The Australian – Page: 1 & 5 : 3-Aug-22

The federal government’s climate bill may be put to a vote in the House of ­Representatives as early as ­Wednesday. The bill to enshrine a 43 per cent per cent emissions reduction target in law is expected to be passed after the Greens and teal independents pushed for amendments that are likely to be accepted by Labor. Meanwhile, Opposition Leader Peter Dutton has indicated that the Coalition will review its emissions reduction targets ahead of the next election. The Senate is likely to vote on the climate bill in September, with the government requiring the support of the Greens and at least one crossbencher.

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AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

Higher interest rates tipped to bite

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Original article by Ronald Mizen
The Australian Financial Review – Page: 1 & 4 : 3-Aug-22

Reserve Bank of Australia governor Philip Lowe has reiterated that higher interest rates are necessary to return inflation to the target range of 2-3 per cent and to create a sustainable balance of demand and supply. Financial markets are now pricing in a cash rate of three per cent by December, following the RBA’s third consecutive increase of 50 basis points on Tuesday. The cash rate is now at a six-year high of 1.85 per cent, and many economists expect a rate rise of either 25 or 50 basis points in September. Meanwhile, the RBA has downgraded its economic growth forecast for both 2023 and 2024 to just 1.75 per cent, while it expects the official unemployment rate to reach four per cent by the end of 2024.

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RESERVE BANK OF AUSTRALIA

ANZ-Roy Morgan Consumer Confidence up by 1.7pts to 84.1 – a third straight weekly increase

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

ANZ-Roy Morgan Consumer Confidence rose 1.7pts to 84.1 in the week ended 31 July. However, it is 17.7pts below the same week a year ago (101.8), and 8.2pts below the 2022 weekly average of 92.3. On a State-based level Consumer Confidence was up significantly in Queensland and South Australia, but down slightly in NSW, Victoria and WA. Now 23% (unchanged) of Australians say their families are ‘better off’ financially than this time last year, while 42% (down 1ppt) say their families are ‘worse off’ financially. In addition, 32% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 32% (down 3ppts) expect to be ‘worse off’ financially. Only 7% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 39% (unchanged) expect ‘bad times’. Meanwhile, just 23% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 45% (down 1ppt) say now is a ‘bad time to buy’.

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

China slams US as Pelosi arrives in Taiwan

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The New Daily – Page: Online : 3-Aug-22

US House of Representatives Speaker Nancy Pelosi has arrived in Taipei for her nation’s first official visit to Taiwan in more than two decades. Pelosi expressed her country’s solidarity with the people of Taiwan, stating that it is now more important than ever as the world faces a choice between "autocracy and democracy". China’s foreign ministry has responded to the historic visit by stating that it seriously infringes upon China’s sovereignty and territorial integrity, and relations between China and the US. China deployed fighter jets to the Taiwan Strait ahead of Pelosi’s arrival in Taipei, while the People’s Liberation Army will hold military exercises near Taiwan in coming days.

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What overturning Roe v Wade means for Australia

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Original article by Caitlin Fitzsimmons
Brisbane Times – Page: Online : 27-Jun-22

Children by Choice CEO Daile Kelleher has little doubt that those who oppose abortion in Australia will be "energised" by the decision of the US Supreme Court to overturn Roe v Wade. It ends the constitutional right to an abortion in the US, and allows state bans to come into effect. Jane Caro, who spoke at pro-choice rallies in the lead-up to abortion being decriminalised in NSW in 2019, says the decision is a reminder that, compared to men, womens’ rights are always equivocal. She agrees with Kelleher’s view that the decision will energise those who oppose abortion, but believes it will also energise those who support abortion.

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CHILDREN BY CHOICE

Census to offer COVID-19 snapshot

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Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 27-Jun-22

The Australian Bureau of Statistics will release the first major data set from the 2021 Census in the week beginning 27 June, with demographers, business and the Australian Electoral Commission among the many users of census data. Andrew Leigh, Labor’s Assistant Minister for Competition, Charities and Treasury, who is the minister in charge of the ABS, notes that many people who completed the 2021 census would have done so away from their normal place of residence as a result of COVID-19 restrictions. Leigh says that planning for the 2026 Census is already underway.

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AUSTRALIAN BUREAU OF STATISTICS

Warning to NATO on China-Russia pact

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Original article by Ben Packham
The Australian – Page: 1 & 2 : 27-Jun-22

Prime Minister Anthony Albanese and his counterparts from South Korea, Japan and India make up a special Indo-Pacific delegation that are attending the NATO summit in Madrid. Albanese says that the summit is being held in the context of democratic nations standing up for Ukraine as it continues to resist Russia’s invasion, while he says China’s ‘no limits’ pact with Russia means that NATO is required to focus on a broader threat than just Russia. A senior NATO official has indicated that it does not view China, like Russia, as an adversary, but as "a challenge" that needs to be constantly managed.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NORTH ATLANTIC TREATY ORGANISATION

Haines warns crossbench cuts could delay ICAC

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Original article by Michael Pelly
The Australian Financial Review – Page: 7 : 27-Jun-22

The former Coalition government allocated two advisers and two assistant advisers to crossbench MPs, on top of their four electoral staff. However, the Albanese government is planning to reduce the number of advisers that crossbench MPs get allocated from four to one. Helen Haines, who is the Independent MP for the Victorian seat of Indi, has warned that the proposal to reduce the number of advisers that crossbench MPs are allocated could lead to a delay in the passage of legislation to establish a federal anti-corruption commission.

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Plan for over-65s to ease jobs crisis

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Original article by Patrick Commins
The Australian – Page: 1 & 2 : 27-Jun-22

Employers’ groups and the Council on the Ageing have expressed support for a proposal to address the skills crisis by allowing older Australians to work additional hours without affecting their pension payments. Australian Chamber of Commerce & Industry CEO Andrew McKellar estimates that this could encourage at least 400,000 people over the age of 65 to return to the workforce. Treasurer Jim Chalmers has indicated that the proposal is among the issues that will be discussed at the national employment summit later in 2022.

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AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL ON THE AGEING, AUSTRALIA. DEPT OF THE TREASURY