O75 Public Administration

Stretched Australians unable to reduce debt

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Original article by Matthew Cranston
The Australian Financial Review – Page: 9 : 9-Apr-19

An EY survey has found that just 28 per cent of Australians expect to reduce their debt in 2019, down from 60 per cent in 2018. The survey also found that more than 60 per cent of respondents were ‘extremely’ concerned about the cost of living, suggesting that more people are not able to cut their debt because they lack the ability to do so, rather than a lack of desire to do so. It is possible that some Australians could use the tax cuts announced in the April 2019 Budget as an opportunity to reduce their debt.

CORPORATES
ERNST AND YOUNG, RESERVE BANK OF AUSTRALIA

Cancer doctors: Labor plan won’t cure system

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Original article by Rosie Lewis, Sean Parnell
The Australian – Page: 1 & 7 : 9-Apr-19

Reaction to Labor’s $2.3 billion cancer treatment plan has been somewhat mixed. Its announcement has been welcomed by the Royal Australian & New Zealand College of Radiologists and the Australian Diagnostic Imaging Association. However, Ben Brady of the Private Cancer Physicians of Australia says his organisation rejects compulsory bulk-billing. Brady, who is also the director of haematology and medical oncology at Cabrini Health in Melbourne, adds that it is somewhat "un-Australian" to focus on just one disease.

CORPORATES
AUSTRALIAN LABOR PARTY, THE ROYAL AUSTRALIAN AND NEW ZEALAND COLLEGE OF RADIOLOGISTS, AUSTRALIAN DIAGNOSTIC IMAGING ASSOCIATION, PRIVATE CANCER PHYSICIANS OF AUSTRALIA, AUSTRALIA. DEPT OF HEALTH, CABRINI HEALTH

ALP marginals at risk of falling to Libs

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Original article by Andrew Clennell
The Australian – Page: 6 : 9-Apr-19

The federal government is widely tipped to lose seats in Victoria, Queensland and Western Australia at the upcoming election. This could potentially be offset by winning several seats in New South Wales, or at the very least retaining the same number of seats. Meanwhile, Labor’s internal polling suggests that it would have lost the NSW seats of Dobell and Lindsay if the election had been held on 6 April. Labor must gain seven lower house seats to secure majority government.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, GETUP LIMITED

Coalition’s Adani split widens

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Original article by Phillip Coorey, Mark Ludlow
The Australian Financial Review – Page: 1 & 4 : 9-Apr-19

Prime Minister Scott Morrison has rejected suggestions that the federal government is holding back on granting final approvals for Adani’s proposed Carmichael coal mine for political reasons. Some Liberal-National MPs believe that the government is stalling on the issue until after the election to shore up support for the Coalition in inner-city seats where there is strong opposition to the mine. One MP notes that the mine is vital to the Coalition’s prospects of retaining marginal seats in Queensland.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, ADANI MINING PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, ONE NATION PARTY

Budget delivers 2.5% swing to the L-NP but ALP still lead on a two party preferred basis: ALP 52.5% cf. L-NP 47.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Apr-19

A face-to-face Roy Morgan Poll shows that the ALP 52.5% (down 2.5% from before the Federal Budget) leads the L-NP 47.5% (up 2.5%) on a two-party preferred basis. The poll, which was conducted on the weekend of 6-7 April with 809 Australian electors, also shows that the ALP’s primary vote has fallen by 1.5% to 35%, while the L-NP’s primary vote has risen 2.5% to 37%. Roy Morgan’s Government Confidence Rating has fallen by 2pts to 99.5 following the Federal Budget. Now 40.5% (down 1%) of electors say ‘Australia is heading in the right direction’ and 41% (up 1%) say ‘Australia is heading in the wrong direction’, and 18.5% (unchanged) can’t say.

CORPORATES
MORGAN POLL, ROY MORGAN LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Coalition to fast-track post-election tax cuts

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Original article by Michael Roddan, Rosie Lewis
The Australian – Page: 6 : 9-Apr-19

Treasurer Josh Frydenberg says the timing of the election will not affect the federal government’s plans to provide tax relief via the low- and middle-income tax offset. He says that if the government wins the election, it will reconvene parliament in June to vote on its tax cuts so they can take effect from the start of the new financial year. A spokesman for the Australian Taxation Office stresses that the tax offset will only be available to taxpayers lodging their 2018-19 tax returns if the legislation is passed by 30 June.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor rules out $30b tax cuts

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Original article by Phillip Coorey, John Kehoe
The Australian Financial Review – Page: 1 & 5 : 9-Apr-19

Labor will not implement the second and third stages of the federal government’s income tax cuts package if it wins the upcoming election. The third stage of the tax cuts is slated to take effect in mid-2024, and would introduce a flat rate of 30 per cent for all people with income of $45,000 to $200,000. The Parliamentary Budget Office’s costings show that the stage three tax cuts would cost about $147.2bn in the first five years. Shadow treasurer Chris Bowen says high-income earners would benefit the most from the stage three tax cuts.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GRATTAN INSTITUTE, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Chinese investment at decade low

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Original article by Michael Smith
The Australian Financial Review – Page: 11 : 8-Apr-19

Chinese investment in Australia in 2018 fell by 36.3 per cent, according to a report by KPMG and the University of Sydney. The fall was despite Chinese global outbound direct investment rising by 4.2 per cent in 2018. Chinese-state owned companies are being directed to invest in Belt and Road infrastructure projects in Asia and central Europe, while private companies are focusing on healthcare and technology transactions.

CORPORATES
KPMG AUSTRALIA PTY LTD, UNIVERSITY OF SYDNEY, CDH INVESTMENTS FUND MANAGEMENT COMPANY, SIRTEX MEDICAL LIMITED, YUHU GROUP (AUSTRALIA) PTY LTD, DALIAN WANDA GROUP COMPANY LIMITED, ENN GROUP, SANTOS LIMITED – ASX STO

Nod for Adani is unlikely before poll

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 8-Apr-19

Adani Mining had hoped that final approvals for its $2 billion Carmichael coal mine would have been finalised prior to Christmas 2018. However, it appears unlikely that approvals will be forthcoming before the federal election. Federal Environment Minister Melissa Price is yet to sign off on a groundwater management plan for the mine, while the Queensland Government is yet to approve a plan for the black-throated finch. The state government must also co-sign the groundwater management plan.

CORPORATES
ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE TREASURY, QUEENSLAND. DEPT OF ENVIRONMENT AND HERITAGE PROTECTION, AUSTRALIAN GREENS

IMF warns on housing slide

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 2 : 8-Apr-19

The International Monetary Fund is expected to downgrade its forecast for the Australian economy in its latest World Economic Outlook. Thomas Helbling, the IMF’s lead economist for Australia, warns that the nation’s housing market downturn has been more severe than anticipated and it has occured sooner than expected. He says the property market downturn will need to be offset via government policies aimed at stimulating the economy, such as increased investment in infrastructure. Helbling has also raised the possibility of interest rate cuts.

CORPORATES
INTERNATIONAL MONETARY FUND