O75 Public Administration

No guarantee for PM’s $158b income tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 8-May-19

The support of Senate crossbenchers may be crucial for the government to pass its signature tax cuts package if it wins the federal election. Centre Alliance has committed to supporting the first two stages of the tax cuts, although Senator Griff Stirling has indicated that the party may be open to backing the third stage. Senate aspirant Clive Palmer says his party’s support for the tax cuts is subject to several conditions. The government may have to split the tax bill to secure its passage through the upper house, given that Labor supports only the stage one tax cuts.

CORPORATES
CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan Australian Consumer Confidence down to 117.3

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-May-19

ANZ-Roy Morgan Australian Consumer Confidence fell 0.3% to 117.3 in the week ended 5 May, consolidating at an above-average level. Households’ views towards current financial conditions rose 0.2%, while views towards future financial conditions fell 1.2%. Consumers’ views toward current economic conditions rose 4.1%, largely reversing the prior week’s fall of 5.5%, and views towards future economic conditions fell 3.6%. The ‘time to buy a household item’ index fell 0.3%, following a rise of 4% in the previous week.

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

Childcare pay rise a carrot for union

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Original article by Rick Morton
The Australian – Page: 4 : 7-May-19

Shadow treasurer Chris Bowen has defended Labor’s proposal to provide early childhood educators with a taxpayer-funded pay rise, saying the policy has been costed by the Parliamentary Budget Office. Treasury Josh Frydenberg in turn has argued that the policy has been costed on giving a pay rise to 100,000 child care workers, whereas the sector employs 195,000 people. He has claimed that the policy is merely aimed at increasing union membership.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Labor weighs boosting union powers

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 7-May-19

Shadow workplace relations minister Brendan O’Connor has indicated that unions’ right to entry laws could be relaxed if Labor wins the federal election. The reforms could include recommendations made in the Boland review of workplace safety laws; amongst other things, the review proposed waiving the need for a union official to have a workplace entry permit if the visit is related to industrial safety. This would benefit the Construction, Forestry, Maritime, Mining & Energy Union; some of its officials have been denied entry permits under the Fair Work Act’s ‘fit and proper person’ test.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, HERBERT SMITH FREEHILLS PTY LTD, MASTER BUILDERS AUSTRALIA INCORPORATED, SAFE WORK AUSTRALIA

Rate cut will be little help, says Westpac

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Original article by James Eyers, James Frost
The Australian Financial Review – Page: 1 & 17 : 7-May-19

The futures market has priced in a 38 per cent chance that the Reserve Bank will reduce the cash rate on 7 May. Westpac CEO Brian Hartzer warns that a rate cut will have limited impact on economic growth and consumer spending, given that the cash rate is already at a historic low. He argues that government spending has been a key driver of economic growth, but the political debates needs to have a greater focus on measures that will drive private sector growth and investment. Shadow treasurer Chris Bowen says the fact that interest rates could potentially fall further demonstrates the "real concern" about the economy under the Coalition.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN LABOR PARTY, JP MORGAN AUSTRALIA LIMITED, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, CLIME ASSET MANAGEMENT PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Morrison and Shorten, take note: Trump shows what enterprising tax settings can do for jobs

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Original article by Robert Gottliebsen
The Australian – Page: 33 : 7-May-19

Between 2019 and 2025, the cumulative tax bill of people earning more than $200,000 a year will be more than $33,000 higher under Labor than the Coalition, according to a tax calculator on Self-Employed Australia’s website. Low-income earners who receive $15,000 worth of franking credits each year would also be worse off under Labor. The tax policies of Australia’s major political parties are in contrast to the personal and company tax cuts of US President Donald Trump. Some 263,000 jobs were created in the US in April and the unemployment rate fell to its lowest level since December 1969, while there has been average hourly earnings growth of 3.2 per cent over the last year.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, SELF-EMPLOYED AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

No end to Labor’s $60 billion spendathon

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 6 : 7-May-19

Labor has made spending commitments in excess of $60 billion during the federal election campaign, according to a newspaper analysis of its spending announcements. Labor’s spending promises include $22 billion for infrastructure projects and community facilities, and $16.2 billion for climate change and energy. Treasurer Josh Frydenberg told the treasurers’ debate on 6 May that taxpayers would be the ones paying for Labor’s higher spending, while Labor will need to convince the Senate to pass the tax measures that it will need to implement in order to pay for its spending.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Three weeks locked at ALP 51% cf. L-NP 49% – Palmer "jumps" 1.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-May-19

For the third straight week the two major parties are locked in a tight contest with a slight edge to the ALP 51% cf. L-NP 49% on a two party preferred basis, according to a face-to-face Roy Morgan Poll conducted over the weekend of May 4/5, 2019 with a representative cross-section of 826 Australian electors. Primary support for both major parties fell this week, but there was no change to the close overall two-party preferred result. The L-NP now has a primary vote of 38.5% (down 1%) and is clearly ahead of the ALP on 34% (down 2%) while Greens support is up 1.5% to 11%. Support for One Nation is up 1.5% to 4% while support for Clive Palmer’s United Australia Party is up 1.5% to 3.5%. Support for Independents/Others is down 1.5% to 9%. The Roy Morgan Government Confidence Rating has declined by 2.5pts to 99 with slightly more Australians saying Australia is ‘heading in the wrong direction’ than ‘heading in the right direction’. Roy Morgan CEO Michele Levine says both major parties require a small swing to claim a workable majority of 77 seats in the expanded 151 seat Parliament, and with the tight nature of the race it could again be independents and minor party candidates who decide who will be Prime Minister after next week’s election.

CORPORATES
MORGAN POLL, ROY MORGAN LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY, UNITED AUSTRALIA PARTY

Senators reject ALP tax grab

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Original article by Simon Benson, Michael McKenna, Joe Kelly
The Australian – Page: 1 & 4 : 7-May-19

Key upper house crossbenchers have rejected claims by shadow treasurer Chris Bowen that Labor will have a mandate for tax reform if it wins the federal election. Centre Alliance senator Stirling Griff contends that Labor will only have a mandate if it gains a majority in the Senate. Griff opposes Labor’s proposal to abolish cash refunds for excess dividend imputation credits, although he says Centre Alliance may be willing to negotiate regarding changes to the negative gearing regime. One Nation leader Pauline Hanson also opposes the franking credit reforms.

CORPORATES
AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, ONE NATION PARTY, UNITED AUSTRALIA PARTY, AUSTRALIAN GREENS, AUSTRALIAN CONSERVATIVES

PM vows Australian made campaign

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Original article by Tom McIlroy
The Australian Financial Review – Page: 9 : 6-May-19

Prime Minister Scott Morrison announced on 5 May that a re-elected Coalition government would crack down on internet trolls as he sought to counter Labor’s campaign launch on the same day. Morrison, who was campaigning on the New South Wales central coast with his wife Jenny, made a number of other commitments, including a promise to bolster trespass laws to help farmers who are being targeted by animal activists. Morrison is expected to announce plans for a manufacturing modernisation fund on 6 May, along with a revamped ‘Made Australian’ campaign aimed at boosting exports.

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