O75 Public Administration

Economy gets caffeine hit as spending soars

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Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 22-Apr-21

Data from the Australian Bureau of Statistics shows that retail sales increased by 1.4 per cent nationwide in March, after falling by 0.8 per cent in February. Retail sales grew by 5.5 per cent in Western Australia and four per cent in Victoria, with both states having been affected by snap COVID-19 lockdowns in February. Consumer spending totalled $30.7bn overall in March, which is 10.6 per cent above pre-pandemic levels. The growth in retail sales has been driven by service-oriented businesses such as cafes and restaurants.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Deloitte reveals extent of workplace complaints

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Original article by Edmund Tadros, Hannah Wootton
The Australian Financial Review – Page: 3 : 22-Apr-21

Professional services firm Deloitte has disclosed that it has investigated about 15 workplace complaints annually over the last three years. The firm’s voluntary disclosure follows recent media reports which revealed that rival firm KPMG received nearly 100 workplace complaints between 2014 and March 2019, an average of about 17 per year. The majority of these complaints were allegations of bullying or sexual harassment. Workplace experts agree that the number of complaints lodged at KPMG does not reflect the true extent of the problem.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, KPMG AUSTRALIA PTY LTD

Axe falls on Andrews’ BRI deal with China

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Original article by Ben Packham, Joe Kelly
The Australian – Page: 1 & 2 : 22-Apr-21

Australia’s strained relations with China may worsen after the federal government used the Foreign Relations Act to cancel Victoria’s agreement to participate in the controversial Belt and Road Initiative. Foreign Minister Marise Payne has used the new powers to veto the state government’s 2018 memorandum of understanding with regard to the BRI, as well as a subsequent framework agreement. Payne has also deemed that the Victorian government’s scientific co-operation agreement with Syria and an education and training deal with Iran are not in the national interest.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Experts eye Melbourne-made mRNA vaccines

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Original article by Paul Sakkal, Melissa Cunningham, Liam Mannix, Rachel Clun, Emma Koehn
The Age – Page: Online : 22-Apr-21

The Victorian government has announced that it will contribute $50m to the cost of establishing a facility to manufacture mRNA-based vaccines in Melbourne. Professor Colin Pouton of Monash University believes that this amount of funding would be sufficient to establish a facility for the local manufacturing of the COVID-19 vaccines that were developed by Pfizer and Moderna. He says Australia could begin producing these vaccines within a year, adding that this could be accelerated if CSL – which is producing AstraZeneca’s adenovirus-based vaccine – becomes involved. Australia currently receives limited supplies of the Pfizer vaccine.

CORPORATES
MONASH UNIVERSITY, PFIZER INCORPORATED, MODERNA INCORPORATED, ASTRAZENECA PLC, CSL LIMITED – ASX CSL

PM’s global tech fix for emissions

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 22-Apr-21

The federal government has committed to spending $566m over eight years on the development of low-emission technologies in partnership with other countries. This follows the government’s previous announcement that it will spend $540m on hydrogen and carbon capture and storage projects. Prime Minister Scott Morrison contends that international collaboration is the most effective way to address the issue of carbon emissions, a point he will emphasise during the upcoming virtual climate change summit that will be hosted by US President Joe Biden.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Wage freeze needed due to vaccine delays

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Original article by Ewin Hannan
The Australian – Page: 5 : 22-Apr-21

The Restaurant & Catering Industry Association has urged the Fair Work Commission to take into account the delay in the rollout of COVID-19 vaccines when deciding whether to increase the minimum wage. The RCIA contends that the minimum wage should either be left at its current level in 2021-22 or any increase for workers in hard-hit industries should be delayed until February 2022. ACTU secretary Sally McManus argues that a minimum wage freeze would result in a pay cut in real terms for one in five workers at a time when domestic spending is essential to Australia’s economic recovery.

CORPORATES
RESTAURANT AND CATERING INDUSTRY ASSOCIATION OF AUSTRALIA INCORPORATED, AUSTRALIA. FAIR WORK COMMISSION, ACTU

RBA lauds $50bn budget boost

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Original article by Patrick Commins
The Australian – Page: 1 & 4 : 21-Apr-21

The federal government had forecast a $198bn Budget deficit for 2020-21 in its mid-year economic and financial outlook. The Department of Finance has advised that the Budget bottom line improved by $23bn during the first eight months of the financial year; some economists now expect the full-year deficit to be about $50bn lower than had been forecast in December. Meanwhile, the Reserve Bank of Australia says the strong economic rebound has seen national GDP growth return to its pre-pandemic level. The RBA reiterated in the minutes of its monthly board meeting that the cash rate is likely to remain on hold until at least 2024.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, RESERVE BANK OF AUSTRALIA

PM pushes jobs on road to net zero

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Original article by Geoff Chambers, Perry Williams
The Australian – Page: 1 & 4 : 21-Apr-21

Prime Minister Scott Morrison says the federal government will adopt a ‘technology-first’ approach to reducing carbon emissions. He will reveal plans for the government to invest in four clean hydrogen hubs in regional Australia, as well as carbon capture and storage technology. These initiatives will cost some $540m, while Morrison says they will create 2,500 jobs. Morrison has also committed to ensuring that the government’s climate policies will not penalise industries that have high carbon emissions, such as mining and agriculture.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 114.0

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

ANZ-Roy Morgan Consumer Confidence fell 0.1pts to 114.0 on the weekend of April 17/18. Consumer Confidence has remained well above the 2021 weekly average of 110.9, and it is now 29.8pts higher than the same week a year ago (84.2). Now 27% (down 4ppts) of Australians say their families are ‘better off’ financially than this time last year, while 25% (unchanged) say their families are ‘worse off’ financially. In addition, 39% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 13% (unchanged) expect to be ‘worse off’ financially. Some 23% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since March 1, 2020), while 15% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since October 2010). Meanwhile, 44% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 24% (down 1ppt) say now is a ‘bad time to buy’.

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

Australians divided over PM Scott Morrison’s handling of COVID-19 and all related issues

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

New research by Roy Morgan shows that 51% of Australians disapprove of Prime Minister Scott Morrison’s handling of COVID-19 and all related issues. A majority of younger Australians under 35 years of age, women, people in capital cities and Victoria, as well as supporters of the ALP and the Greens disapprove of Morrison’s handling of the pandemic. However, there is majority support for Morrison’s handling of COVID-19 related issues among Australians aged 65+, people in country areas, the States of NSW, Queensland, Western Australia and Tasmania, and L-NP supporters. Australians who disapprove of Morrison’s handling of COVID-19 and related issues have consistently brought up the ‘bungled’ vaccine rollout and the perception that he is always ‘passing the blame’ to the states and others for anything that goes wrong and taking credit when it is the states that have done the greater part of the job dealing with COVID-19. For the 49% of Australians who approve of the way Morrison is handling COVID-19 and all related issues the main reason is that Australia is in a better position than just about anywhere else in the world, and this is a marker of the PM’s good handling of COVID-19.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET