Unions call for more government assistance for workers in fire-hit areas

Original article by Dana McCauley
The Age – Page: Online : 8-Jan-20

The federal government’s Disaster Recovery Allowance provides people who have been directly affected by the bushfires to receive up to 13 weeks of income support. However, the United Workers Union’s Helen Gibbons contends that this will be insufficient for many bushfire victims, adding that casual workers in particular will be hard hit by loss of income due to the fires. Retail & Fast Food Workers Union secretary Josh Cullinan notes that many casual workers are reluctant to stay at home despite feeling sick from smoke haze and heat from the bushfires.

CORPORATES
UNITED WORKERS UNION, RETAIL AND FAST FOOD WORKERS UNION INCORPORATED, ACTU, THE AUSTRALIAN INDUSTRY GROUP

Colvin promises bureaucracy won’t get in way of bushfire recovery effort

Original article by Rob Harris
The Australian – Page: Online : 8-Jan-20

Andrew Colvin, the head of the National Bushfire Recovery Agency, has stressed that its disaster relief strategy will be tailored to the unique needs of each community that has been affected by the fires. He adds that the NBRA will only be successful if it works closely with other agencies to ensure that affected communities receive the support they need. Colvin has also given assurances that the NBRA will seek to minimise bureaucratic hurdles for fire-affected communities.

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AUSTRALIA. NATIONAL BUSHFIRE RECOVERY AGENCY

Just 2km separates inferno in making

Original article by Rachel Baxendale, David Ross
The Australian – Page: 5 : 8-Jan-20

The national death toll from Australia’s bushfire season stands at 24, after New South Wales police confirmed that two men who had been reported missing have been located. Some 60 fires remain out of control in NSW, while 14 fires are still burning in Victoria. There is concern that separate fires near Corryong in Victoria and in southern New South Wales could merge to form a ‘mega-blaze’, particularly with hot weather forecast for later in the week. Meanwhile, 672 homes in NSW have been destroyed in bushfires so far in 2020, and 1,588 have been lost since the bushfire season began.

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VICTORIA. DEPT OF PREMIER AND CABINET

ANZ-Roy Morgan Consumer Confidence falters on bush fires

Original article by Roy Morgan
Market Research Update – Page: Online : 8-Jan-20

ANZ-Roy Morgan Australian Consumer Confidence fell 1.7% to 106.2 in the week ended 5 January, to its lowest level in more than four years. A drop in confidence at the start of the year is unusual and almost certainly reflects the impact of the catastrophic bush fires over the weekend. ‘Current economic conditions’ were down 12.9%, while ‘future economic conditions’ fell 8.1%; current economic conditions are at their lowest level since the global financial crisis, while sentiment toward the future economic outlook is at its lowest level since 1994. In contrast, ‘current finances’ rose 4%, while ‘future finances’ were up 0.3%. The ‘time to buy a household item’ sub-index gained 4.8%, recovering from a fall of 6.4% seen in the last reading of 2019. The four-week moving average of ‘inflation expectations’ was stable at 4.0%, though weekly readings saw a sharp fall, which should result in a weaker reading in the coming week.

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

New car sales plummet as families curb spending

Original article by Patrick Commins
The Australian – Page: 2 : 7-Jan-20

Data from the Federal Chamber of Automotive Industries shows that new car sales totalled 1,062,867 in 2019, which is 7.8 per cent lower than previously. Sales fell by 3.8 per cent year-on-year in December, to 84,239. FCAI CEO Tony Weber says the 2019 sales figures reflect a challenging year for the Australian economy, noting that the new car market was affected by factors such as falling house prices, low wages growth and a weaker Australian dollar. The Toyota HiLux was the top-selling vehicle for the year.

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FEDERAL CHAMBER OF AUTOMOTIVE INDUSTRIES, TOYOTA MOTOR CREDIT CORPORATION

Health impacts of bushfires won’t be known for years, experts say

Original article by Dana McCauley
The Age – Page: Online : 7-Jan-20

The bushfire smoke that has shrouded major cities such as Sydney, Melbourne and Canberra has raised concerns about the long-term health impact of the disaster. Professor Bin Jalaludin from the University of New South Wales says research shows that all parts of the body are affected by air pollution, noting that it can trigger neurological conditions. He adds that people with pre-existing medical conditions such as heart disease and high blood pressure may be at greater risk of a heart attack due to exposure to air pollution.

CORPORATES
UNIVERSITY OF NEW SOUTH WALES

Economic cost of bushfires estimated at $2 billion and rising

Original article by Jessica Irvine
The Age – Page: Online : 7-Jan-20

Terry Rawnsley of SGS Economics & Planning estimates that the bushfires will reduce national gross domestic product by about 0.15 per cent in 2019-20. He adds that the economic cost to bushfire-affected regions will be within the range of $1.1bn to $1.9bn. Meanwhile, Shane Oliver of AMP Capital says the bushfire crisis is likely to reduce national economic output by between 0.25 per cent and 1 per cent, while economist Saul Eslake still expects the federal government to deliver a Budget surplus for 2019-20.

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SGS ECONOMICS AND PLANNING PTY LTD, AMP CAPITAL INVESTORS LIMITED

PM’s $2bn recovery vow

Original article by Ben Packham, Olivia Caisley
The Australian – Page: 1 & 4 : 7-Jan-20

The federal government will provide the National Bushfire Recovery Agency with initial funding of $2bn, which will be used to support communities that have been devastated by the bushfires. The funding will be used to rebuild critical infrastructure, provide grants to small businesses and farmers, and to offer mental health support for people who have been affected by the disaster. Prime Minister Scott Morrison has emphasised that recovering from the bushfires is a greater priority for the government than a Budget surplus. He adds that the government’s climate change policies will not be reviewed as a result of the disaster.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

More hazard-reduction burns not the answer, experts warn

Original article by Mike Foley
The Sydney Morning Herald – Page: Online : 7-Jan-20

Prime Minister Scott Morrison says the issue of hazard management in national parks will be on the agenda for the next Council of Australian Governments meeting in March. Morrison has called for more emphasis on hazard-reduction burns in response to the bushfire crisis. Associate Professor Philip Zylstra from the University of Wollongong argues that more prescribed burning has been undertaken in the last decade than in many years. He adds that a large increase in hazard reduction burns would heighten fire risks and affect air quality in cities and towns during the winter months.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, UNIVERSITY OF WOLLONGONG

Will Australia win from new tax rules?

Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 6-Jan-20

The OECD and the Group of 20 are heading an initiative to re-write international tax laws to cope with the digital age. The proposed system could include an effective minimum rate of global tax and the adoption of new global allocation rules. Some countries have sought to act unilaterally in the adoption of digital services taxes on US digital companies like Google and Facebook, but the Trump administration has sought to ‘punish’ such countries by the imposition of tariffs. There are hopes a new international tax system could be in place by the end of 2020, but some tax experts have their doubts.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GROUP OF TWENTY (G-20), FACEBOOK INCORPORATED, GOOGLE INCORPORATED