O75 Public Administration

Early access to super extended, Treasury reveals

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Original article by Adrian Flores
My Business – Page: Online : 24-Jul-20

The federal government has extended the deadline for people wanting to apply for the early release of up to $10,000 from their superannuation fund from 24 September to 31 December. The government has also advised that the COVID-19 SME Guarantee Scheme has been extended to loans written until 30 June 2021, and that the Supporting Apprentices and Trainees wage subsidy has been extended for an additional six months to 31 March 2021, as well as being broadened to cover medium-sized businesses from 1 July.

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Pressure on PM for permanent dole rise

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Original article by Rosie Lewis
The Australian – Page: 4 : 22-Jul-20

The coronavirus supplement for JobSeeker recipients will be reduced from $550 per fortnight to $250 from 25 September. This will reduce the maximum unemployment benefit for a single person to about $800 a fortnight. The revised JobSeeker allowance will apply until the end of 2020, although the federal government has signalled that it is likely to be extended for a further three months. Australian Council of Social Service CEO Cassandra Goldie has called for a permanent increase in JobSeeker when the coronavirus supplement ends. The requirement that JobSeeker recipients must apply for at least four jobs per month will be reinstated from 4 August.

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AUSTRALIAN COUNCIL OF SOCIAL SERVICE

Consumer Confidence highest for L-NP supporters

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Jul-20

New research into the weekly ANZ-Roy Morgan Consumer Confidence Index shows L-NP supporters have far higher Consumer Confidence in June at 103.3 than either ALP supporters (91.8) or Greens supporters (85.9). In fact, the Consumer Confidence of L-NP supporters has been consistently higher than either ALP or Greens supporters over the last year following the unexpected victory of the L-NP at last year’s Federal Election. Consumer Confidence for supporters of all three parties bottomed during the height of the national lockdown in April but the lowest Consumer Confidence for L-NP supporters, of 87.3 in April, was still higher than for Greens supporters during either of the last two months in both May and June. Consumer Confidence for ALP supporters hit a low of only 73.0 in April, lower than for supporters of either the L-NP or Greens. L-NP supporters have consistently been more confident than both ALP and Greens supporters across all five indicators of the index. The biggest contributors to the higher L-NP scores relate to views on the Australian economy and whether now is a good or bad time to buy major household items.

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

Revamp will push 2.5m off JobKeeper

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Jul-20

The federal government’s revised JobKeeper wage subsidy scheme is expected to cost $16.6bn over six months. The new tiered JobKeeper scheme will feature two levels of payment based on the number of hours worked, rather than the existing fortnightly payment of $1,500 for all eligible workers. The lower JobKeeper payments will take effect from 28 September and will be further reduced from early January. Treasury has forecast that the number of people receiving JobKeeper will fall from 3.5 million at present to 1.4 million in the December quarter, and just one million in the March quarter.

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Subscription TV viewers soar during Aussie lockdown – Netflix, Foxtel, Stan, Disney+ & Amazon Prime all up significantly

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Original article by Roy Morgan
The Australian Financial Review – Page: Online : 22-Jul-20

New data from Roy Morgan reveals Australians were adding new subscription TV services at an astonishing rate during the lockdown period which started in late March. Now almost 15.74 million Australians have access to a subscription TV service, up 878,000 (+5.9%) in only three months. All the major subscription TV services have been big winners out of the lockdown with big increases in viewers for Netflix, Foxtel, Stan, Disney+ and Amazon Prime in the three months to May 2020 compared to the prior three month period to February 2020 (pre COVID-19 lockdown). Netflix remains by far the nation’s most watched subscription television service, with 13.28 million viewers, an increase of over 1 million in only three months (+8.8%). Foxtel has also experienced its best growth for many years with over 5.5 million viewers, up 658,000 (+13.6%) since the pre-COVID-19 period. Also growing strongly during lockdown have been third-placed Stan which grew 729,000 (+19.7%) to 4,434,000 viewers, newcomer Disney+ which was up 689,000 (+38.2%) and Amazon Prime Video now with 2,166,000 viewers – an increase of 678,000 (+45.5%) since February.

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ROY MORGAN LIMITED, NETFLIX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, STAN ENTERTAINMENT PTY LTD, DISNEY+, AMAZON PRIME VIDEO

ANZ-Roy Morgan Consumer Confidence slips 0.9 pts to 90.7 but down 2.6pts to 84.8 in Melbourne as COVID-19 cases surge

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Jul-20

ANZ-Roy Morgan Consumer Confidence dropped 0.9pts to 90.7 this week – and is now at its lowest for over two months since May 9/10, 2020 (90.3). The drop in Consumer Confidence was driven by a decline of 2.6pts in Melbourne to only 84.8. The Victorian capital is now well below the national average as it battles a renewed outbreak of COVID-19. Consumer Confidence in Adelaide (92.8) and Sydney (91.0) was also down, although both are slightly above the national figure. Perth is the most confident city in Australia with Consumer Confidence surging 7.3pts to 103.4 as the city welcomed the AFL and football crowds back on the weekend. Consumer Confidence is now 25.6pts lower than a year ago on the comparable weekend of July 20/21, 2019 (116.3) and 4.1pts below the 2020 weekly average of 94.8.

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

Infrastructure fund extended for five years

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 17-Jul-20

The Northern Australia Infrastructure Facility was due to expire on 30 June 2021. However, the federal government has advised it will now run until 30 June 2026 to assist with Australia’s economic recovery. Established to provide low-cost loans for infrastructure projects across the Northern Territory, Western Australia and northern Queensland, the NAIF was originally worth $5 billion. To date 19 projects have been approved for a total of $2 billion in loans, but only $130 million has been spent so far.

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NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY

Support SMEs in crisis: Comyn

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Original article by Joyce Moullakis
The Australian – Page: 17 : 17-Jul-20

Commonwealth Bank CEO Matt Comyn says the federal government’s coronavirus stimulus measures have been very effective. However, he argues that further support for small businesses should be a priority in future stimulus, and he expects the sector to be a key focus of the government’s upcoming economic update. Comyn has also expressed support for the government’s focus on suppressing COVID-19, noting that completely eliminating the virus will be difficult.

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COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Old IR ways would cost jobs in recovery: PM

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Original article by Patrick Commins
The Australian – Page: 4 : 17-Jul-20

Prime Minister Scott Morrison has warned that temporary changes to the Fair Work Act will need to be retained beyond the JobKeeper wage subsidy’s scheduled end date of late September. The amendments enable bosses to vary the hours that an employee works and the duties they perform. Morrison says more jobs will be lost if the nation reverts to the inflexible industrial relations regime that was in place before JobKeeper was introduced. He argues that many companies will continue to benefit from the more flexible arrangements even when their revenue has returned to pre-coronavirus levels.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Pink-collar recession: Data reveals women have borne brunt of pandemic

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Original article by Euan Black
The New Daily – Page: Online : 17-Jul-20

Women’s working hours fell by 7.3 per cent between March and June, according to figures released on 16 July, while men’s working hours fell by 6.5 per cent. Women suffered a 5.2 per cent drop in full-time employment between February and June, compared to a fall of only 3.8 per cent for men. Equity Economics economist Angela Jackson says the government has not focused enough on female jobs during the recession, and she has urged the government to boost female employment by providing more funds for the aged-care sector. Childcare advocates and economists note the return to fee-paying child care will result in many women being compelled to stay at home and work less shifts.

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EQUITY ECONOMICS