O75 Public Administration

ANZ-Roy Morgan Consumer Confidence continues recovery – up 9% to 78.2

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Jan-20

The weekly ANZ-Roy Morgan Consumer Confidence Rating was up 9% to 78.2 on the Easter weekend, and now up 20% since a record low of 65.3 two weeks ago. Driving the increase are more Australians saying they expect to be ‘better off financially’ this time next year – up 7% to 32%, while 27% (down 1%) say they expect to be ‘worse off’. This is the only index question in positive territory, however compared with the previous week there were improvements across the other four Consumer Confidence questions. The two weeks of increases follow the Federal Government’s announcement of a $130 billion wage subsidy in late March and shows how important it is to measure sentiment in the Australian economy on a real-time weekly basis rather than over the longer monthly time period.

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

Covid and the Great Exodus

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Original article by Adam Creighton
The Australian – Page: 1 & 4 : 16-Apr-20

Net overseas migration accounted for 63 per cent of Australia’s population growth in the year to September. The nation’s population increased by 371,000 during this period; meanwhile, the federal government’s April 2019 Budget had forecast net overseas migration of 271,000 in 2020. However, data from Acting Immigration Minister Alan Tudge shows that the number of temporary visa holders fell by 260,000 to 2.17 million in the March quarter. Economist Warren Hogan warns that the decline in net ­migration will have an impact on consumer spending and the housing market.

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AUSTRALIA. DEPT OF HOME AFFAIRS, UNIVERSITY OF TECHNOLOGY, SYDNEY

Virgin ups ante with threat of administration

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Original article by Lucas Baird, Andrew Tillett
The Australian Financial Review – Page: 15 & 20 : 15-Apr-20

Shares in Virgin Australia Holdings were placed in a trading halt on 14 April as the embattled carrier continues to seek financial assistance. The federal government is resisting Virgin’s push for taxpayers’ support, prompting Virgin to warn that it may appoint voluntary administrators within a month if it does not receive a bailout. Treasurer Josh Frydenberg has emphasised that any government assistance for the aviation sector must be industry-wide. Labor leader Anthony Albanese contends that the government could take an equity stake in Virgin and sell it in the future.

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VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

‘We’re winning but we’ll never get rid of it’

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Original article by Rachel Baxendale, David Tanner
The Australian – Page: 5 : 14-Apr-20

The global death toll from the coronavirus has risen to 125,896; more than 1,990,000 people worldwide have been diagnosed with the respiratory illness. There are 6,400 confirmed cases of the coronavirus in Australia, and the nation’s death toll has risen to 62. However, the coronavirus curve continues to flatten, with only 36 new cases reported nationwide on 15 April. Microbiologist Peter Collignon warns that the virus is unlikely to be completed eradicated in Australia, and that some lockdown restrictions may need to remain in place until at least the end of winter. Meanwhile, the death toll in the US has risen to 25,830 after an additional 2,190 deaths were reported in the last day.

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AUSTRALIAN NATIONAL UNIVERSITY

Australia set to emerge with V-shaped recovery

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Original article by Luke Housego
The Australian Financial Review – Page: 30 : 15-Apr-20

Tim Toohey of Yarra Capital forecasts that the majority of developed economies will record a 3-5 per cent decline in GDP growth for 2020. A recent quarterly survey of economists found that the median forecast is for a 3.9 per cent decline in Australia’s GDP growth for the year. Toohey says the domestic economy is likely to experience a V-shaped recovery when it eventually comes. He adds that the "biggest unknown" is just how long the coronavirus lockdown restrictions will remain in place.

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YARRA CAPITAL PARTNERS PTY LTD

Worst year since Great Depression

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Original article by Patrick Commins
The Australian – Page: 1 & 4 : 15-Apr-20

The International Monetary Fund has forecast that the Australian economy will contract by 6.7 per cent in 2020 due to the coronavirus lockdown. However, the IMF expects the domestic economy to rebound by 6.1 per cent in 2021, assuming that measures to contain the virus are successful. The IMF’s latest World Economic Outlook also forecasts that global GDP growth will fall by three per cent in 2020, compared with just 0.1 per cent during the global financial crisis. The IMF has warned of the potential for a second wave of the coronavirus if a vaccine is not developed.

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INTERNATIONAL MONETARY FUND

Wharfies vote to reject new EBA

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Original article by Ewin Hannan
The Australian – Page: 8 : 14-Apr-20

Victoria Inter­national Container Terminal employees have voted against a new non-union enterprise agreement at Webb Dock in Melbourne. The current agreement is due to expire in October. The Maritime Union of Australia has lodged a claim with VICT that would see the pay and conditions of its workers brought into line with those at Qube, DP World and Patrick. MUA official Will Tracey says it and VICT are "not that far apart" on salaries, while the MUA may review its log of claims, given that most of it was compiled before the COVID-19 outbreak.

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VICTORIA INTERNATIONAL CONTAINER TERMINAL LIMITED, MARITIME UNION OF AUSTRALIA, QUBE HOLDINGS LIMITED – ASX QUB, DP WORLD AUSTRALIA PTY LTD, PATRICK CORPORATION LIMITED

Slightly more Britons (68%) than Australians (65%) now say their Government is handling COVID-19 well

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Apr-20

Over two-third of Britons (68%) say the UK Government is handling COVID-19 well, up 19% since March 18-20. This is slightly higher than the 65% of Australians who say the Australian Government is handling COVID-19 well – an increase of 22% from a week earlier, according to a Roy Morgan survey in early April. In addition, nine-in-ten Britons (89%) agree the UK Government guidance on social distancing is clear and easy to understand, compared to only 9% that disagree. Surveying in the UK was conducted by ORB International, the UK Member of the Gallup International Association and affiliated with Roy Morgan.

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ROY MORGAN LIMITED, ORB INTERNATIONAL, GALLUP INTERNATIONAL

Virgin CEO in Canberra bailout pitch

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Original article by Robyn Ironside, Bridget Carter
The Australian – Page: 13 & 16 : 14-Apr-20

The federal government is believed to be considering additional financial support for the nation’s airlines, to ensure that passenger and freight services continue on essential domestic routes. Virgin Australia CEO Paul Scurrah has been lobbying government ministers and Labor frontbenchers to secure support for a proposed $1.4bn loan facility for the struggling carrier. Virgin could opt for a creditor’s scheme of arrangement if government support is not forthcoming; this could result in a debt-for-equity swap, which would have to be approved by shareholders and a court. Labor has backed calls for the government to provide more financial support for Virgin.

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VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Crisis cabinet to outlive virus

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Original article by Geoff Chambers, Paige Taylor, Joe Kelly, Richard Ferguson
The Australian – Page: 1 & 4 : 14-Apr-20

Prime Minister Scott Morrison has praised the high level of federal and state co-operation since the national cabinet was established in mid-March. He has flagged the possibility that the national cabinet model could be retained when the coronavirus crisis is over. Western Australian Premier Mark McGowan has called for the national cabinet to permanently replace the Council of Australian Governments, which typically meets twice a year. The 13th meeting of the national cabinet will be held on 16 April.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS