O75 Public Administration

Banks lower now than during GFC: Costello

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Original article by James Thomson, Tom McIlroy
The Australian Financial Review – Page: 5 : 4-May-18

Corporate Australia is getting tarnished by the banking royal commission, according to former federal treasurer Peter Costello. He says the banks survived the global financial crisis so unscathed that they became complacent, while the likelihood that the federal government’s full company tax cuts package will be passed by the Senate is looking highly unlikely because of the royal commission. James Pearson, the head of the Australian Chamber of Commerce & Industry, says companies in other sectors should not have to miss out on tax cuts because of failings in the financial services sector.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF FINANCE, BUSINESS COUNCIL OF AUSTRALIA

Labor pledges end to live sheep exports

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Original article by Andrew Tillett
The Australian Financial Review – Page: 8 : 4-May-18

Labor’s agricultural spokesman Joel Fitzgibbon says it intends to phase out Australia’s live sheep export trade. Its decision pre-empts the findings of a review into the sector, which was prompted by revelations concerning sheep being transported to the Middle East in dreadful conditions in 2017. Prime Minister Malcolm Turnbull has accused Labor of making a reckless decision based on emotion, rather than on science and information. Western Australian Farmers Federation president Tony York says banning the live sheep trade would have a detrimental impact on regional and rural communities.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, THE WESTERN AUSTRALIAN FARMERS FEDERATION (INCORPORATED), ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS, AUSTRALIAN LIVESTOCK EXPORTERS COUNCIL LIMITED, ANIMALS AUSTRALIA

Rare allies back a Big Australia

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Original article by Simon Evans
The Australian – Page: 1 & 10 : 4-May-18

The ACTU, United Voice and the Australian Industry Group are among the organisations that will sign a National Compact on Permanent Migration. The compact, which is an initiative of the Migration Council, calls for the existing goal of a yearly permanent migrant intake of 190,000 to be retained, with future numbers to be adjusted in proportion to the population. The compact is seen as a "circuit breaker" to the current debate on immigration, which has developed overtones of xenophobia, while it contains a consensus between business and union bodies on temporary migration programs, but with such programs being more strongly scrutinised.

CORPORATES
ACTU, UNITED VOICE, THE AUSTRALIAN INDUSTRY GROUP, MIGRATION COUNCIL OF AUSTRALIA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIAN LABOR PARTY, FEDERATION OF ETHNIC COMMUNITIES COUNCIL OF AUSTRALIA, SETTLEMENT COUNCIL OF AUSTRALIA, WELCOME TO AUSTRALIA

Business pushes its case for restraint

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Original article by David Uren
The Australian – Page: 4 : 3-May-18

A report released by the Business Council of Australia ahead of the Federal Government’s May 2018 Budget warns that achieving a surplus in 2020-21 is highly dependent on commodity prices remaining strong. The BCA also says Australia faces the prospect of large Budget deficits in the future unless action is taken to boost productivity. The employers’ group notes that growth in productivity has averaged just 1.2 per cent over the last decade.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Company tax cuts lift jobs growth

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Original article by Adam Creighton
The Australian – Page: 1 & 4 : 3-May-18

Small Business Council of Australia CEO Peter Strong says an analysis of data on the impact of tax cuts for businesses with turnover of up to $A2m strengthens the case for across-the-board corporate tax relief. The analysis by AlphaBeta shows that 19 per cent of businesses that received the tax cut in 2015 had hired additional staff in the following two years, while three per cent increased their employees’ wages. Companies that received the tax cut also created jobs at a faster pace than companies that were just above the turnover threshold.

CORPORATES
COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, ALPHABETA, XERO LIMITED – ASX XRO, BUSINESS COUNCIL OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Labor plan: spend and tax to bigger surpluses

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 3-May-18

The Australian Labor Party will raise at least $A160bn in additional revenue over 10 years if it wins the next federal election. This would be boosted by $A35bn if Labor revoked company tax cuts that have yet to be legislated. Labor argues that the additional revenue would allow it to achieve a Budget surplus while increasing government spending in sectors such as health and education. Finance Minister Mathias Cormann has warned that Labor’s tax plan will have an adverse impact on jobs and investment.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY

Long fight looms after Pell pleads not guilty in abuse cases

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Original article by Tessa Akerman
The Australian – Page: 1 & 6 : 2-May-18

The Melbourne Magistrates’ Court has committed Cardinal George Pell to stand trial on several charges of historic sex offences. They include alleged sexual assaults at a swimming pool in Ballarat in the 1970s and at St Patrick’s Cathedral in Melbourne in the 1990s. However, Magistrate Belinda Wallington struck out many of the charges against Cardinal Pell. He pleaded not guilty to all charges and has been released on bail. The barrister representing Cardinal Pell will seek to have each charge dealt with by a separate trial.

CORPORATES
MELBOURNE MAGISTRATES’ COURT, CATHOLIC CHURCH

State embarks on a dazzling spending binge

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Original article by Patrick Durkin, Ben Potter
The Australian Financial Review – Page: 6 : 2-May-18

The Victorian Government’s May 2018 Budget has forecast a surplus of $A1.4bn in 2018-19, amid expectations that revenue will rise by almost nine per cent. The Government has attributed the strong Budget outlook to factors such as rising stamp duty and payroll tax revenue, the state’s economic growth and an increase in its share of GST revenue. The Government has also announced that it will invest $A13.7bn in infrastructure projects, including hospitals, schools and roads.

CORPORATES
VICTORIA. DEPT OF TREASURY AND FINANCE, SNOWY HYDRO LIMITED, MELBOURNE AIRPORT, MOODY’S INVESTORS SERVICE INCORPORATED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF VICTORIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Macron to sign pact targeting cyber war

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 2-May-18

French President Emmanuel Macron will commence an official visit to Australia on 2 May. The Federal Government has declined to comment on speculation that Macron will sign a cyber-security agreement on the first day of his three-day visit. However, senior intelligence sources have indicated that the proposed agreement will be similar to one that Australia and the UK recently finalised. The cyber-security agreement with France would be Australia’s first with a country that is not a member of the Five Eyes intelligence network,

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FRANCE. OFFICE OF THE PRESIDENT, AUSTRALIAN SIGNALS DIRECTORATE, COMMONWEALTH HEADS OF GOVERNMENT MEETING, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

US extends tariff exemptions

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Original article by Tom McIlroy
The Australian Financial Review – Page: 15 : 2-May-18

The US has indicated that an agreement to exempt Australia from tariffs on steel and aluminium will be finalised shortly. President Donald Trump announced an in-principle agreement on 1 May. Prime Minister Malcolm Turnbull said the deal reflects the "fair and reciprocal" trade relationship between Australia and the US, and ensures that this relationship will continue in such a manner. He added that the tariff exemptions will support jobs in both countries.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNITED STATES. DEPT OF STATE, BLUESCOPE STEEL LIMITED – ASX BSL, WORLD TRADE ORGANIZATION