$4.5b up in flames as visitors cancel

Original article by Fiona Carruthers
The Australian Financial Review – Page: 4 : 17-Jan-20

The Australian Tourism Export Council has advised that 70 per cent of its members have received cancellations because of the bushfires, for trips ranging between $5,000 and $500,000. The decline in overseas visitors booking holidays to Australia is expected to cost the economy at least $4.5 billion by the end of 2020. Tourism Australia has withdrawn its $15 million ‘Matesong’ campaign from the UK market as a result of the bushfires, but ATEC MD Peter Shelley says the federal government needs to fund a new global campaign to promote Australia once the fires subside.

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AUSTRALIAN TOURISM EXPORT COUNCIL LIMITED,{SPAC}TOURISM AUSTRALIA PTY LTD

Fears PM’s carbon credit projects gone to blazes

Original article by Geoff Chambers
The Australian – Page: 1 & 5 : 17-Jan-20

The Department of the Environment & Energy has indicated that it is too soon to determine whether the bushfires crisis has had any impact on projects that have been backed by the federal government’s Emissions Reduction Fund. It also says most of the fires have been in regions that do not have ERF projects, although analysis shows that many such projects are either in or close to fire-affected areas. The Clean Energy Regulator is undertaking a review of the effects of the bushfires on ERF projects.

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AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY,{SPAC}EMISSIONS REDUCTION FUND,{SPAC}AUSTRALIA. CLEAN ENERGY REGULATOR

NSW will follow ‘experts’, not Morrison: Premier

Original article by John Kehoe
The Australian Financial Review – Page: 4 : 16-Jan-20

New South Wales Premier Gladys Berejiklian has reiterated that the state will undertake its own review of the bushfire season. However, she adds that it will be open to participating in the federal government’s proposed royal commission. Berejiklian has also stressed that the state’s policy on hazard reduction burns is based on advice from experts rather than politicians. Prime Minister Scott Morrison has suggested that a federal inquiry could look at issues such as state governments’ preparedness for the bushfire season, including hazard reduction burns.

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NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED FIREFIGHTERS’ UNION OF AUSTRALIA

$100m sport grants biased

Original article by Ben Packham
The Australian – Page: 1 & 6 : 16-Jan-20

Auditor-General Grant Hehir has released a report which shows that marginal seats held by the Coalition were among the biggest recipients of grants to ‘grassroots’ sporting groups ahead of the May 2019 federal election. Former sports minister Bridget McKenzie approved the grants, and Hehir found that she failed to take into consideration the recommendations of Sport Australia when allocating the money. The report notes that the grants also favoured seats that the Coalition believed that it could win at the election.

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AUSTRALIA. OFFICE OF THE AUDITOR-GENERAL, AUSTRALIAN NATIONAL AUDIT OFFICE, SPORT AUSTRALIA

Morrison doubles family aid payments

Original article by Olivia Caisley
The Australian – Page: 4 : 16-Jan-20

The federal government has announced changes to its family assistance payments for bushfire victims. Families have already received a disaster recovery payment of $400 per child; Prime Minister Scott Morrison has indicated that they will shortly receive an additional $400 for each child, at a cost of $7.9m. The government will also relax the paperwork requirements of volunteer firefighters who claim compensation for loss of income while serving on the bushfires frontline.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

No more carbon cuts, PM warned

Original article by Rosie Lewis
The Australian – Page: 1 & 5 : 16-Jan-20

Some Coalition MPs say that the federal government must not make significant changes to its carbon emission reduction targets in response to the bushfires crisis. Prime Minister Scott Morrison has indicated that the nation will exceed its 2030 target of reducing emissions by 26-28 per cent; he has also emphasised that a range of measures in response to climate change are needed, rather than simply reducing emissions. Former National Party leader Barnaby has called for the construction of nuclear power plants in Australia, as well as clean-coal power stations. Sources within the government have suggested that reviving the national energy guarantee policy is unlikely.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Survey reveals catastrophic damage to productive land

Original article by Ean Higgins
The Australian – Page: 4 : 15-Jan-20

An analysis of satellite mapping data by Digital Agriculture Services has highlighted the impact of the bushfires crisis on the agricultural and forestry sectors. DAS has revealed that almost one million hectares of prime agricultural land in the bushfire zones have been burnt, as well as some 1.6 million hectares of logging forests and tree plantations. DAS also notes that the bushfires are largely in areas that have been hard hit by the drought. The analysis only covers bushfire zones in New South Wales, Victoria, Tasmania and South Australia.

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DIGITAL AGRICULTURE SERVICES PTY LTD

State review not in conflict with PM’s

Original article by Rachel Baxendale
The Australian – Page: 4 : 15-Jan-20

The Victorian government has advised that its bushfires inquiry will be headed by Tony Pearce, the state’s Inspector General for Emergency Management. Prime Minister Scott Morrison says this inquiry will have no impact on the federal government’s plans for a bushfires royal commission, stating that he had always expected the states to undertake their own bushfire reviews. Premier Daniel Andrews says he recently held talks with Morrison with regard to the proposed federal inquiry.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, VICTORIA. DEPT OF PREMIER AND CABINET

Recovery funds to hit budget

Original article by Geoff Chambers, Rosie Lewis, Patrick Commins, Ean Higgins
The Australian – Page: 1 & 4 : 15-Jan-20

Prime Minister Scott Morrison has confirmed that the Budget bottom line will be impacted by the federal government’s disaster relief measures. However, Morrison has stressed that his priority is to provide bushfire victims with the support they need, now and over the next several years. The government has announced an initial $100m funding package to support farmers, fishers and foresters who have been affected by the bushfires. Details of a $50m funding package for charities and financial counsellors to assist bushfire victims will be announced on 15 January.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan Consumer Confidence bounces to 107.3

Original article by Roy Morgan
Market Research Update – Page: Online : 15-Jan-20

ANZ-Roy Morgan Australian Consumer Confidence rose 1% to 107.3 in the week ended 12 January, recovering a bit more than half the loss seen in the prior survey. Current economic conditions gained 6.1% after a fall of 12.9% in the previous reading, while future economic conditions gained 8.6%. Current finances declined by 5.5%, dropping to its lowest level since June; future finances gained 0.6%, for a third consecutive increase. The four-week moving average of inflation expectations was down by 0.1ppt to 3.9%.

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