O75 Public Administration

Cabinet backs above-CPI wage rise for low paid

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Original article by Ewin Hannan
The Australian – Page: 5 : 14-May-25

The newly sworn-in cabinet ministers have approved the federal government’s submission to the Fair Work Commission’s annual wage review. The submission will argue the case for an "economically sustainable real wage increase" for workers on the minimum wage and industry award wages. The government has not specified a percentage increase, although it says this must be above the inflation rate. The budget papers in March had forecast an inflation rate of 2.5 per cent in 2024-25 and three per cent in 2025-26. The ACTU has called for a minimum wage rise of 4.5 per cent from 1 July.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, ACTU

Unease stirs inside Labor on super tax

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 14-May-25

Treasurer Jim Chalmers has confirmed that the federal government intends to proceed with legislation to double the tax rate on superannuation balances exceeding $3m and introduce a tax on unrealised capital gains. Some Labor MPs have expressed concern about the proposed superannuation tax changes, noting that the reforms had generated a lot of negative feedback at polling booths on election day. Independent MP Allegra Spender says that although Labor now has a mandate for superannuation tax reform. she contends that it is "bad policy" and should be reconsidered.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

‘Extreme, divisive politics’: Greens’ near-total wipe-out

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Original article by Clare Armstrong
Herald Sun – Page: Online : 8-May-25

Sky News and the ABC have both declared that Labor’s Sarah Witty has won the seat of Melbourne, which Greens leader Adam Bandt has held since 2010. However, a Greens spokeswoman has stated that the minor party has yet not conceded defeat in the previously safe seat, arguing that "many thousands of votes" have not yet been counted. The Greens are hopeful that more than 15,000 absentee and declaration votes will favour Bandt. Commenting on Bandt’s defeat, a Labor source said "he’ll blame Labor, he’ll blame the Liberals, he’ll blame voters, but he’ll never blame himself". The Greens went into the federal election with four MPs in the lower house, but Stephen Bates and Max Chandler-Mather have also lost their seats and Elizabeth Warren-Brown’s seat of Ryan in Queensland is in doubt. Greens senators Sarah Hanson-Young and Mehreen Faruqi are believed to be the frontrunners to succeed Bandt.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY

Liberal MPs urge unity leadership ticket as Abbott questions conviction

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Original article by Sarah Ison, Jack Quail
The Australian – Page: 5 : 8-May-25

Liberal Party insiders contend that an increasingly acrimonious leadership contest is undermining efforts to rebuild in the wake of Saturday’s election rout. Sussan Ley, Dan Tehan and Angus Taylor are expected to be in contention to succeed Peter Dutton as Opposition leader. Supporters of Ley have rejected claims that she has offered prime shadow cabinet portfolios in exchange for votes in a leadership ballot. A number of Liberal MPs have called for Ley and Tehan to run on a ‘unity ticket’, with some suggesting that the latter would garner enough support to be deputy leader but not enough to take the top job. Meanwhile, former prime minister Tony Abbott says the Liberals’ leadership has lacked "courage and conviction" in recent times.

CORPORATES
LIBERAL PARTY OF AUSTRALIA

Labor to push ahead on super tax

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Original article by Phillip Coorey, Sumeyya Ilanbey
The Australian Financial Review – Page: 1 & 4 : 8-May-25

The federal government has indicated that reducing the higher education debt of students and graduates by $16bn with be its first legislative priority for its second term in office. Labor has also reaffirmed its commitment to superannuation reform, including the controversial tax on unrealised capital gains. The reforms had been intended to take effect on 1 July but were rejected by the Senate earlier in 2025 due to opposition from a number of crossbenchers; however, they will be sidelined in the new Senate given that Labor and the Greens will have a majority in the upper house.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Government debt could hit $1trn by September

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Original article by Michael Read
The Australian Financial Review – Page: 4 : 8-May-25

Data from the Australian Office of Financial Management shows that the federal government’s gross debt is currently about $929bn. Micaela Fuchila, the chief economist at investment bank Jarden, has forecast that the nation’s gross debt will reach $1trn in either September or October of this year. The Treasury in turn expects the government’s net debt – which excludes the value of financial assets such as the Future Fund – to reach $556bn by June. S&P Global recently warned that Australia’s coveted AAA credit rating may be at risk if federal election spending promises are funded via debt rather than revenue or cost savings.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT, JARDEN AND COMPANY, S&P GLOBAL INCORPORATED

NZ: In April, for a third straight month, both the National-led Government and Parliamentary opposition were under 50% support

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-May-25

Roy Morgan’s New Zealand Poll for April 2025 shows the National-led Government (National, ACT & NZ First) on 49% (up 2% points) and the Labour-Greens-Maori Party Parliamentary Opposition on 47% (down 0.5% points). This is the fourth straight month the two main blocks representing both sides of politics have fallen short of a majority of support; it is also the seventh straight month no single party has managed to garner a third of the electorate’s support. There were changes in the composition of support for the National-led Government, with National down 1.5% points to 31%; however, support for ACT increased 1.5% points to 9% and support for NZ First increased 2% points to 9%, now at their highest level of support since the Election in October 2023. For the Parliamentary Opposition, support for Labour increased 1% point to 28.5% while support for the Greens was virtually unchanged at 14%. Support for the Maori Party dropped 1% point to 4.5%. A further 4% (down 1.5%) of electors supported a minor party outside Parliament. This New Zealand Roy Morgan Poll on voting intention was conducted by telephone – both landline and mobile – with a New Zealand-wide cross-section of 829 electors from 24 March to 20 April.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, NATIONAL PARTY OF NEW ZEALAND, ACT NEW ZEALAND, NEW ZEALAND FIRST PARTY, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, THE MAORI PARTY

Liberals revolt over policy failures

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Original article by Sarah Ison, Jack Quail
The Australian – Page: 1 & 4 : 7-May-25

Sources within the Liberal Party have indicated that many of its policies were either not released or delayed for so long that they had no impact on the federal election. They include policies in key areas such as defence, taxation, education, health and the environment. Meanwhile, Sussan Ley is now widely regarded as the frontrunner to replace Peter Dutton as Opposition leader; advocates for Ley contend that she could boost support among female voters who have become disillusioned with the Liberal Party.

CORPORATES
LIBERAL PARTY OF AUSTRALIA

Roy Morgan Business Confidence down 9.3pts to 96.7 in April before weekend’s Federal Election

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-May-25

In April 2025, Roy Morgan Business Confidence was down 9.3pts to 96.7, in the weeks leading up to last weekend’s Federal Election. There was a similar trend three years ago when Business Confidence plunged by 12.8pts in the month leading up to the last Federal Election. Business Confidence is now 13.5pts below the long-term average of 110.2, although it is down a more modest 2.6pts from April 2024. Now 24.3% (down 6.6ppts) of businesses says their business is ‘better off’ financially than this time a year ago (the lowest figure for this indicator since September 2020, during the pandemic), while 36.7% (down 1.2ppts) say the business is ‘worse off’. Meanwhile, 36% (down 8.8ppts) expect the business will be ‘better off’ financially this time next year (the lowest figure for this indicator since April 2019), while 25.6% (up 8.3ppts) expect the business will be ‘worse off’ (the highest figure for this indicator since February 2024). The latest Roy Morgan Business Confidence results for April are based on 1,549 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence increased 4.1pts to 87.5 in the week Australians voted in the Federal election

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-May-25

ANZ-Roy Morgan Consumer Confidence rose 4.1pts to 87.5 in the week to 4 May; it is important to note that the vast majority of interviewing for Consumer Confidence was completed before the result of the Federal Election was known on Saturday night. Consumer Confidence is now 7 points above the same week a year ago (80.5), and 1.3pts above the 2025 weekly average of 86.2. Analysis by State shows increases around Australia, including in New South Wales, Victoria, Queensland and South Australia, but a slight decrease in Western Australia. Now 19% of Australians (up 4ppts) say their families are ‘better off’ financially than this time last year, while 42% (down 5ppts) say their families are ‘worse off’ (the lowest figure for this indicator since September 2022). Looking forward, 28% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 27% (down 3ppts) expect to be ‘worse off’. Now 10% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 27% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 38% (unchanged) say now is a ‘bad time to buy’.

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