O75 Public Administration

Shorten talks up living wage bid

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Original article by Ewin Hannan
The Australian – Page: 4 : 7-Mar-19

Australian Chamber of Commerce & Industry CEO James Pearson has warned that a significant increase in minimum wage would result in job losses, a reduction in hours of work for many people and business failures. He was responding to comments by Opposition Leader Bill Shorten, who has told a business summit that the minimum wage is too low and is no longer a living wage. ACTU secretary Sally McManus has again reiterated the need for a living wage.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF THE TREASURY

Blocking Adani mine would damage trade with India

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Original article by Mark Ludlow
The Australian Financial Review – Page: 6 : 5-Mar-19

Australia India Business Council chairman Jim Varghese says any move by state or federal governments to block Adani’s Carmichael coal mine would harm trade between the two nations. Varghese says India needs thermal coal to help meet its rapidly growing energy requirements, and he notes that Australian coal is cleaner than other sources. Meanwhile, Adani CEO Lucas Dow says the company would certainly seek compensation if the Greens private members’ bill to block thermal coal in Queensland is approved by state parliament.

CORPORATES
AUSTRALIA-INDIA BUSINESS COUNCIL INCORPORATED, ADANI MINING PTY LTD, AUSTRALIAN GREENS, CSIRO, GEOSCIENCE AUSTRALIA, AUSTRALIAN LABOR PARTY

Veteran MPs facing a gold-plated retirement

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Original article by Richard Ferguson
The Australian – Page: 2 : 5-Mar-19

Former foreign minister Julie Bishop is among the six Liberal MPs who have chosen not to contest the 2019 election. Bishop is set to be paid more than $177,000 before tax each year in retirement, after 21 years in parliament. Liberal colleague Christopher Pyne will be paid more than $172,000 a year following a 26-year parliamentary career, while Labor’s Jennie Macklin will be entitled to an annual income of some $177,000 after 23 years in the lower house. Seven Labor MPs will retire at the election.

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

GDP growth to make 30 years in a row: BIS

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Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 5-Mar-19

Gabriel Sterne of BIS Oxford Economics has forecast that the Australian economy will continue to expand for another two years. Sterne attributes the nation’s unprecedented period of economic growth to factors such as a low level of macro volatility, a flexible labour market and its ability to manage household debt levels. However, BIS Oxford Economics estimates that there is a 25 per cent change of a global recession in the next two years.

CORPORATES
BIS OXFORD ECONOMICS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, INTERNATIONAL MONETARY FUND, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

PM says it’s enterprise versus envy

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 5-Mar-19

Prime Minister Scott Morrison will tell a business summit on 5 March that the differences on economic policy between the Coalition and Labor are the greatest they have been for over 40 years. Morrison will also announce a $328 million commitment for programs aimed at preventing domestic violence and support for victims. Morrison will also tell the summit that the 2019 federal election presents a choice between "enterprise and envy".

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

Miners fuel drive towards surplus

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Original article by David Uren
The Australian – Page: 4 : 5-Mar-19

Westpac and the ANZ Bank expect the latest national accounts data to show that the Australian economy grew by 0.2 per cent in the December quarter, while National Australia Bank has forecast growth of 0.4 per cent. Meanwhile, data from the Australian Bureau of Statistics shows that pre-tax profits in the resources sector rose by $17.5bn in calendar 2018, which will in turn boost federal government revenue. However, earnings outside of the resources sector fell by 1.5 per cent during 2018.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP, AUSTRALIA. DEPT OF THE TREASURY

Australia set to seal FTA with Indonesia

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Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 4-Mar-19

Trade Minister Simon Birmingham expects Australia’s exports to Indonesia to increase on the back of the free trade agreement between the two countries. The trade deal is due to be signed on 4 March, although it may be some months before it is ratified by parliament. Education, mining and tourism are among the Australian industries that are expected to benefit from the agreement, along with the citrus industry. Birmingham says Indonesian exports to Australia should also increase as a result of the trade deal.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY

Treasurer’s super war on activists

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Original article by Michael Roddan
The Australian – Page: 1 & 2 : 4-Mar-19

Treasurer Josh Frydenberg wants to ensure that union-appointed trustees of industry superannuation funds do not seek to pursue political objectives at the expense of members’ interests. Industry funds currently manage $631 billion worth of assets, with this figure tipped to increase to over $1 trillion by 2024; boards of industry funds are equally represented by trustees from employers and unions. Frydenberg’s concerns have been sparked by union calls for funds to pressure BHP and BlueScope Steel to reverse a decision not to renew a contract for Australian-crewed ships that carry iron ore.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, BHP GROUP LIMITED – ASX BHP, BLUESCOPE STEEL LIMITED – ASX BSL, ACTU, MARITIME UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIANSUPER PTY LTD, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, RIO TINTO LIMITED – ASX RIO, WOOLWORTHS GROUP LIMITED – ASX WOW, QANTAS AIRWAYS LIMITED – ASX QAN, WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, UNITED VOICE, AUSTRALIAN SERVICES UNION

Permaflexi plan a ruse to reduce pay, unions war

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Original article by Dana McCauley
The Sydney Morning Herald – Page: 12 : 1-Mar-19

Health Services Union secretary Lloyd Williams has criticised a push by employers for the Fair Work Commission to recognise a new category of employment. So-called ‘permaflexi’ workers would be paid a 10 per cent loading in exchange for flexible rostering, while they would also receive sick leave and annual leave entitlements. The NSW Business Chamber’s application states that workers who are hired under a "flexible ongoing employment" arrangement would have a minimum of 1-3 hours’ work per week.

CORPORATES
HEALTH SERVICES UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, NSW BUSINESS CHAMBER LIMITED, ACTU, AUSTRALIAN SERVICES UNION, AUSTRALIAN LABOR PARTY

Inequality flatlines in Australia

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Original article by David Uren
The Australian – Page: 8 : 1-Mar-19

The OECD contends that there has been no increase in inequality in Australia in the last 15 years, which is at odds with Labor’s claim that inequality is rising. The OECD states that the income of the poorest 20 per cent of the population has risen the most since 2001, while middle-income earners have seen the lowest increase in income. It suggests that this is because workers in this income bracket are most vulnerable to automation. The OECD’s study was based on the Melbourne Institute’s Household Income and Labor Dynamics (HILDA) survey, with the OECD stating that income inequality in Australia is above the OECD average.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIAN LABOR PARTY, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH