O75 Public Administration

ANZ-Roy Morgan Consumer Confidence down 0.6pts to 86.4 as Reserve Bank interest rate cut fails to increase confidence

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-25

ANZ-Roy Morgan Consumer Confidence fell 0.6pts to 86.4 in the week to 1 June; however, Consumer Confidence is now 5.9 points above the same week a year ago (80.5), and in line with the 2025 weekly average of 86.5. Analysis by State shows mixed results, with Consumer Confidence dropping in New South Wales and Western Australia, but up slightly in Victoria, Queensland and South Australia. Now 18% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 42% (also unchanged) say their families are ‘worse off’. Looking forward, 26% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (up 1ppt) expect to be ‘worse off’. Now 14% (up 1ppt) of respondents expect ‘good times’ for the Australian economy over the next 12 months, while 28% (down 1ppt) expect ‘bad times’. Meanwhile, 23% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 36% (up 1ppt) say now is a ‘bad time to buy’.

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

Victoria turns blind eye to credit downgrade risk

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Original article by Lily McCaffrey
The Australian – Page: 6 : 4-Jun-25

Victoria’s Treasurer Jaclyn Symes will hold meetings with global credit ratings agencies in New York on Friday. Symes has told parliament’s public accounts and estimates committee that there has been no indication from the ratings agencies that Victoria’s credit rating may be subject to an unfavourable review. The issue came under scrutiny earlier in 2025 when S&P Global warned that the government must demonstrate "fiscal discipline" if it hopes to retain the state’s AA/Stable credit rating, which had been downgraded from triple-A in 2020. The Treasury has advised that it has not undertaken any modelling on the impact of a further credit rating downgrade on the state’s budget position.

CORPORATES
VICTORIA. DEPT OF TRANSPORT, S&P GLOBAL RATINGS

Climate change spend surges to $9bn a year

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Original article by Matthew Cranston
The Australian – Page: 1 & 5 : 4-Jun-25

Analysis by the Institute for Public Affairs shows that the federal government’s spending on climate change and net zero policies has increased by 400 per cent since it took office in May 2022. Labor allocated more than $9bn to such initiatives in its pre-election budget in March, compared with just $1.7bn in the former Coalition government’s last budget in March 2022. This compares with the $600m that was spent on climate change and net zero programs a decade ago. The IPA’s chief economist Adam Creighton says that despite the big increase in spending on net zero, the government’s own figures show that Australia’s carbon emissions have fallen by just 2.8 per cent compared with 2005 levels.

CORPORATES
INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIAN LABOR PARTY

PM leaves door ajar to super tax compromise

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Original article by Greg Brown, Matthew Cranston
The Australian – Page: 1 & 4 : 4-Jun-25

The federal government will require the support of either the Coalition or the Greens to pass legislation in the Senate from 1 July. Prime Minister Anthony Albanese has given indications that Labor may be willing to make changes to its superannuation tax reforms to secure the Coalition’s support for the legislation. Shadow treasurer Ted O’Brien recently stated that the Coalition would consider a deal with Labor if it agreed to abandon plans to tax the unrealised capital gains of super funds. Australian Chamber of Commerce & Industry CEO Andrew McKellar says the business community would welcome greater co-operation between the major political parties if it results in policy outcomes that are in the national interest.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Prime Minister Anthony Albanese enjoys third honeymoon as ALP strengthens two-party preferred lead in May: ALP 58.5% cf. L-NP 41.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-25

The latest Roy Morgan survey shows that support for the ALP has risen to 58.5% on a two-party preferred basis (up 3.2% since winning the federal election), well ahead of the Liberal-National Party Coalition on 41.5% (down 3.2%). The Albanese Government’s second election victory netted the party 94 seats in the House of Representatives, equalling the all-time record of the Howard Government in 1996. In addition, the two-party preferred result – currently at 55.3% for the ALP according to the AEC – is the largest since Malcolm Fraser won the 1975 election for the Coalition with a two-party preferred result of 55.7%. In the month of May primary support for the ALP increased to 37% (up 2.4% since the election), and is clearly ahead of the Coalition on 31% (down 0.8%). Support for the Greens dropped 0.7% from the election to 11.5% and support for One Nation was down 0.4% to 6%. In addition, support for Independents/Other Parties was at 14.5% (down 0.5%). Meanwhile, the Roy Morgan Government Confidence Rating increased 15.5 points to 97 during May. The latest Roy Morgan survey is based on interviewing a representative cross-section of 5,128 Australian electors from 5 May to 1 June.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Trump’s tariffs could spark fresh sell-off, says RBA

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Original article by Michael Read
The Australian Financial Review – Page: 4 : 4-Jun-25

Sharemarkets have recovered most of the losses incurred in response to the Trump administration’s reciprocal tariffs announcement in early April. However, the Reserve Bank of Australia’s chief economist Sarah Hunter says ongoing uncertainty regarding the US tariffs regime could result in renewed financial market volatility. Speaking ahead of the release of GDP data for the March quarter, Hunter warned that further changes to US tariffs or the economic outlook could prompt another equities sell-off; this in turn could adversely affect consumer spending and deter businesses from hiring staff or proceeding with capital investment plans.

CORPORATES
RESERVE BANK OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Win on pay but productivity goes begging

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Original article by Ewin Hannan
The Australian – Page: 1 & 5 : 4-Jun-25

ACTU secretary Sally McManus has welcomed the Fair Work Commission’s decision to grant a pay rise of 3.5 per cent for people on the minimum wage and award wages. The minimum wage will rise by about $32 per week, to $948. McManus notes that the above-inflation wage rise represents a 1.1 per cent increase in real wages. However, the Australian Industry Group’s CEO Innes Willox argues that real wages growth is only sustainable when it is linked to productivity improvements. Prime Minister Anthony Albanese contends that the FWC’s ruling will not increase prices for consumers, while it will ensure that workers do not fall behind with regard to the cost of living.

CORPORATES
ACTU, AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

OECD trims Australian economic growth expectations

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Original article by Matthew Cranston
The Australian – Page: Online : 4-Jun-25

The OECD now expects the Australian economy to grow by just 1.8 per cent in 2025, compared with its previous forecast of 1.9 per cent. However, its growth forecast for 2026 has been upgraded from 1.8 per cent to 2.2 per cent. The Paris-based organisation also expects global economic growth to slow in both 2025 and 2026. Meanwhile, Australia’s official GDP data for the March quarter will be released today, and economists from the nation’s four major banks have downgraded their forecasts for economic growth during the period; Westpac is the most bearish, warning of a small risk of negative growth.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, WESTPAC BANKING CORPORATION – ASX WBC

‘Furious’: Nationals MP says Littleproud misled the party

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Original article by James Massola
Brisbane Times – Page: Online : 28-May-25

National Party leader David Littleproud is under scrutiny in the wake of the recent falling out with the Liberal Party which briefly ended their long-standing coalition. Nationals MP Colin Boyce has accused Littleproud of misleading his colleagues regarding the scope of the Nationals’ demands in four key policy areas which prompted the split. Boyce has described the split as a ‘fiasco’ and says he cannot support a leader who misleads the party room. Boyce adds that he opposes the Coalition’s net zero emissions target of 2050, and contends that the issue should have been discussed in the Nationals’ party room meeting last week.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA

Australian tax office whistleblower Richard Boyle may avoid jail in plea deal

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Original article by
The Guardian Australia – Page: Online : 28-May-25

Former Australian Tax Office debt collection officer Richard Boyle has pleaded guilty to four criminal charges in the Adelaide District Court, while 15 charges were withdrawn. Another five charges had been withdrawn in March. Former senator Rex Patrick, who founded the Whistleblowers Justice Fund, has described Boyle as a ‘superhero’ for publicly exposing the ATO’s debt recovery tactics; he adds that it is a disgrace that Boyle has been pursued for eight years over his revelations. Patrick believes that Boyle could potentially avoid custodial sentence after pleading guilty; however, he adds that Boyle may still be convicted, which would affect his future career prospects.

CORPORATES
AUSTRALIAN TAXATION OFFICE, DISTRICT COURT OF ADELAIDE