O75 Public Administration

ANZ-Roy Morgan Australian Consumer Confidence up to 114.7

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Apr-19

ANZ-Roy Morgan Australian Consumer Confidence rose 2.6% to 114.7 in the week ended 31 March. The uptick has resulted in the index closing near a one-month high. Households’ views towards current financial conditions fell 1.5%, while views towards future financial conditions rose 0.4% after a fall of 3.3% in the previous week. Consumers’ views toward current economic conditions jumped 8.1% and views towards future economic conditions rose 1.3%. The ‘time to buy a household item’ index gained 5%.

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

Start-ups reveal their federal budget wish-lists

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Original article by Liz Main
The Australian Financial Review – Page: 19 : 2-Apr-19

Clarification concerning research and development tax incentives is one of the biggest points of interest for technology start-ups with regard to the federal government’s April 2019 Budget. Des Hang, the CEO and co-founder of vehicle subscription service Carbar, says it is too easy for larger companies to be able to claim tax breaks under the R&D incentive scheme. Investment in better education programs is something else that the technology sector wants to see, along with immigration reform.

CORPORATES
CARBAR, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ATLASSIAN CORPORATION PLC, 99DESIGNS PTY LTD, FINTECH AUSTRALIA PTY LTD

Ageing a $36b hit to budget within a decade

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Original article by Matthew Cranston
The Australian Financial Review – Page: 10 : 2-Apr-19

The Parliamentary Budget Office has predicted that Australia’s ageing population will see government revenue fall by around $20 billion within the next 10 years. This is due to reduced workforce participation, which results in less people paying tax; spending on the aged is tipped to rise by $16 billion over the same period. However, the PBO notes that immigration can help to offset the possible impact of ageing on the budget, as most migrants tend to be younger than the average, while they can boost the birth rate by increasing the number of people of reproductive age.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Coalition to ram through budget tax cuts ahead of poll

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Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 1 & 6 : 2-Apr-19

Labor has indicated that it will not oppose tax cuts in the April 2019 Budget if they largely benefit people on low and middle incomes. Changes to the Low Income Tax Offset are expected to be among the tax reforms to be outlined in the Budget. The tax cuts and one-off cash payments to offset rising energy costs are likely to be put to parliament on 3 April, with a view to making it harder for Labor to repeal them if it wins the election. Opposition Leader Bill Shorten contends that Labor’s tax cuts package will be of more benefit to 10 million working Australians than the Coalition’s policy.

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

ALP plan reignites carbon wars

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 2-Apr-19

Prime Minister Scott Morrison has criticised Labor’s proposed baseline and credit scheme, describing it as a "massive tax on jobs" that will force affected companies to spend $35bn to buy offshore carbon credits. However, the Greens argue that the scheme does not go far enough, and it should cover a broader range of industries. Greens MP Adam Bandt adds that allowing the use of international carbon permits will delay Australia’s transition to 100 per cent renewable energy. Morrison has also criticised Labor’s 2030 target for electric vehicles to comprise 50 per cent of new cars that are sold in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, THE AUSTRALIAN INDUSTRY GROUP, BUSINESS COUNCIL OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA

NPS rating of big four banks declines during Finance Royal Commission

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Original article by Roy Morgan
Market Research Update – Page: Online : 2-Apr-19

In January 2018, immediately prior to the Finance Royal Commission, the Net Promoter Score of Australia’s big four banks was 2.8. This fell to minus 2.8 in November 2018. The latest figure for February 2019 has shown some recovery to minus 1.6, but this remains one of the lowest levels recorded since 2014 and much lower than the latest rating of 23.2 for banks outside of the big four. Among the 10 largest MFI banks, ING has an NPS score of 51.8, well ahead of second-placed Bendigo Bank on 34.0, followed by Bank of Queensland with 19.0. These three top performers are well above the current bank average NPS of 5.3. The CBA is the only one of the big four with a positive NPS (3.8), and is followed by NAB (-5.6), ANZ (-6.8) and Westpac (-7.3). Meanwhile, satisfaction with banks has declined from 81.2% prior to the Royal Commission and has fallen to 77.9% in February. These are some of the latest findings from Roy Morgan’s ‘Advocacy Report, Financial Institutions, Monthly Report-February 2019’, which is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes.

CORPORATES
ROY MORGAN LIMITED, ING BANK (AUSTRALIA) LIMITED, BENDIGO BANK, BANK OF QUEENSLAND LIMITED – ASX BOQ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC

Coalition defuses debt bomb

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Original article by Simon Benson
The Australian – Page: 1 & 2 : 2-Apr-19

Prime Minister Scott Morrison has rejected suggestions that the April 2019 Budget will be a ‘cash splash’ ahead of the federal election, stressing the government’s track record for fiscal discipline. Meanwhile, the Budget papers are forecast to show that Australia’s net debt will be reduced to zero by 2028-29 under the Coalition, compared with $370bn at present. The Budget is expected to remain in deficit for 2018-19, although it is likely to be lower than the $5.2bn that was forecast in the mid-year update. The government is tipped to bring forward the second and third stages of its tax cuts package.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN LABOR PARTY, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION

ALP’s emissions trading scheme

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

Labor will released details of its climate change policy on 1 April. Amongst other things, Labor will introduce a new carbon emissions cap, which will be known as a baseline and credit scheme. It will initially apply to about 250 businesses whose carbon emissions are 25,000 tonnes a year. Labor will also seek to address the issue of vehicle emissions by mandating that electric vehicles must account for 50 per cent of all new cars that are sold by 2030.

CORPORATES
AUSTRALIAN LABOR PARTY

Government Confidence rises above 100 pre Federal Budget as more Australians believe the country is going in the right direction than the wrong direction

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Apr-19

Roy Morgan’s Government Confidence Rating increased by 11pts to 101.5 for the two weekends of 16-17 and 23-24 March 2019. Some 41.5% of electors (up 4.5%) now say that Australia is heading in the ‘right direction’, and 40% (down 6.5%) say Australia is heading in the ‘wrong direction’. Government Confidence is now in positive territory for the first time since Scott Morrison became Prime Minister in August 2018 as the Government prepares to deliver its pre-election Budget on 2 April. Government Confidence among L-NP supporters has increased by 16.5pts to 126.5; some 54.5% of L-NP supporters (up 6.5%) now say Australia is heading in the ‘right direction’ and only 28% (down 10%) say Australia is heading in the ‘wrong direction’. Meanwhile, government confidence among ALP supporters has increased by 4pts to 98; now 40% of ALP supporters (up 1.5%) say Australia is heading in the ‘right direction’, while 42% (down 2.5%) say Australia is heading in the ‘wrong direction’.

CORPORATES
ROY MORGAN LIMITED

Coalition’s $1bn drive to get regions moving

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Original article by Joe Kelly
The Australian – Page: 1 & 4 : 1-Apr-19

The federal government’s April 2019 Budget will include an additional $1bn for the Roads of Strategic Importance program. The extra funding will be used to upgrade regional and interstate road infrastructure. The Budget will also include one-off payments to assist people such as pensioners, veterans and the disabled with the rising cost of energy. Treasurer Josh Frydenberg says the Budget will focus on responsible and targeted spending, while shadow treasurer Chris Bowen says it will be a "highly political" document that will in reality be an election campaign launch for the Coalition.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, SHOOTERS, FISHERS AND FARMERS PARTY