O75 Public Administration

MP deserts Hanson to back tax cut

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Original article by Joe Kelly
The Australian – Page: 1 & 4 : 31-May-18

The Federal Government’s hopes of passing its company tax cuts in the Senate have been bolstered after One Nation’s Brian Burston indicated that he will support the package in defiance of party leader Pauline Hanson. Burston suggests that the upcoming by-election in the seat of Longman in Queensland may have influenced Hanson’s decision to withdraw her party’s support for the tax cuts. Burston also says he only became aware of Hanson’s decision when he read about it in the media. The Government requires the support of eight crossbenchers to pass the legislation.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF FINANCE, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, CENTRE ALLIANCE, AUSTRALIAN CONSERVATIVES, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor open to strip super from Fair Work

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Original article by Joanna Mather, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 31-May-18

Sources have suggested that the Australian Labor Party will continue to oppose a move to require the majority of superannuation funds’ board members to be independent. However, shadow treasurer Chris Bowen is said to be willing to support the Productivity Commission’s recommendation to shift responsibility for selecting default super funds from the Fair Work Commission to an expert panel. Meanwhile, the PC’s deputy chair Karen Chester has downplayed concerns that the super industry would be dominated by the 10 funds on the expert panel’s list.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. PRODUCTIVITY COMMISSION, ACTU, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, FINANCIAL SERVICES COUNCIL

Labor faces motion to bring back compulsory unionism

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Original article by Troy Bramston
The Australian – Page: 6 : 31-May-18

Members of the New South Wales branch of the Australian Labor Party will vote on a number of motions to be put forward by unions at its upcoming state conference. Amongst other things, Labor-affiliated unions will push for the reinstatement of compulsory union membership for all party members, a policy that was abandoned in 2015. Meanwhile, some Labor branches will propose that people be offered free membership of the party when they join an affiliated union.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN MANUFACTURING WORKERS’ UNION, UNITED SERVICES UNION, MARITIME UNION OF AUSTRALIA, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, COMMUNITY AND PUBLIC SECTOR UNION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Greens minimum wage cost comes in at $630m

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Original article by Ben Packham
The Australian – Page: 5 : 30-May-18

The Australian Greens have proposed permanently setting the minimum wage at 60 per cent of the median wage. Greens MP Adam Bandt says this would increase the minimum wage to around $A757 per week, compared with $A695 at present. However, the policy would cost employers an additional $A630m a year. The ACTU has also advocated pegging the minimum wage to average earnings, while Labor considered but ultimately rejected such a proposal due to its likely impact on jobs.

CORPORATES
AUSTRALIAN GREENS, ACTU, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION

ALP urged to clarify company tax plan

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 30-May-18

The tax rate of businesses whose turnover is within the range of $A25m-$A50m will be reduced from 30 per cent to 27.5 per cent from 1 July, under the next stage of the Federal Government’s company tax cuts package. Council of Small Business Australia CEO Peter Strong says Labor should state whether it intends to reverse the tax cuts that have been legislated if it wins the next federal election, arguing that businesses need certainty with regard to tax policy.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Watchdog tests its extra bite on building union

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Original article by Ewin Hannan
The Australian – Page: 8 : 30-May-18

The Australian Building & Construction Commission alleges that a blockade organised by three Construction, Forestry, Mining & Energy Union representatives in May 2017 breached workplace laws. The ABCC’s legal action contends that the blockade of two Melbourne construction sites constituted a breach of the unlawful picketing provisions of the Building and Construction Industry (Improving Productivity) Act. The union representatives claimed that they had prevented workers from accessing the site on a designated rostered day off.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, FEDERAL COURT OF AUSTRALIA

Banking inquiry risks credit crunch

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Original article by Adam Creighton
The Australian – Page: 4 : 30-May-18

Treasury secretary John Fraser appeared before the Senate economics committee on 29 May. He said the banking royal commission may lead to stricter lending standards in the sector, which could in turn potentially result in a "credit crunch". Meanwhile, Finance Minister Mathias Cormann has told the committee that there is no reason for the government to provide year-by-year costings for its personal income tax cuts package. He argued that Labor did not provide such costings for the National Disability Insurance Scheme when it was in office.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, BANK OF WESTERN AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Labor’s $2000 tax sting for average workers

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Original article by Simon Benson, David Uren
The Australian – Page: 1 & 4 : 30-May-18

Prime Minister Malcolm Turnbull says 10 million Australians will receive an income tax cut in the first year of the Federal Government’s three-stage tax package. However, Shadow treasurer Chris Bowen says analysis by the Treasury shows that the top 20 per cent of income earners will benefit most from the tax package. Meanwhile, analysis of data from the Australian Taxation Office suggests that Labor’s alternative tax plan will increase the average worker’s annual tax bill by between $A500 and $A2,000 by 2024-25.

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

ANZ-Roy Morgan Consumer Confidence ends its six week streak, down 3.2% to 117.7

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-May-18

ANZ-Roy Morgan Australian Consumer Confidence fell 3.2% to 117.7 in the week ended 27 May, after six straight weekly gains. Households’ views towards current financial conditions fell 2.7%, entirely reversing gains over the previous two weeks. Views towards future financial conditions fell 4.1% to 122.5, the lowest since November. Sentiment around current economic conditions eased 2.4% following no change previously. Views towards future economic conditions fell 2.5%, adding to the 1.9% loss in the previous week. The "time to buy a household item" sub-index dropped 3.9%, more than reversing the previous week’s rise of 2.6%.

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

Most lack full-time jobs with benefits

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Original article by Ewin Hannan
The Australian – Page: 3 : 29-May-18

Analysis of official data by the Centre for Future Work shows that just 49.97 per cent of full-time workers in Australia had paid leave entitlements in 2017, compared with 51.35 per cent in 2012. The proportion of part-time jobs across the economy has in turn risen from 29.7 per cent to a record 31.7 per cent. Meanwhile, the number of workers who are underemployed has risen from 7.6 per cent to 9.1 per cent over the last five years. The data also shows that 12.4 per cent of employees in the private sector are now covered by enterprise agreements, down from 18.9 per cent in 2012. However, the proportion of workers covered by industry awards has risen from 16.6 per cent to 23.6 per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, THE AUSTRALIA INSTITUTE LIMITED. CENTRE FOR FUTURE WORK, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET