O75 Public Administration

Labor left to embrace Corbyn, torpedo neoliberal economics

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Original article by Troy Bramston
The Australian – Page: 1 & 7 : 28-Jul-17

The Australian Labor Party’s left faction will use its New South Wales state conference to ramp up its push to make inequality a key policy agenda. The left faction intends to formally repudiate the neoliberalism policies of the Bob Hawke and Paul Keating-led Labor governments in favour of the socialist agenda of the UK Labour Party’s leader, Jeremy Corbyn. Labor’s national ­assistant secretary, Paul Erickson, has praised Corbyn and believes that Australians are just as disillusioned about mainstream politics as people in the UK.

CORPORATES
AUSTRALIAN LABOR PARTY, LABOUR PARTY (GREAT BRITAIN)

More MPs under threat

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Original article by Mark Kenny
The Age – Page: 1 : 27-Jul-17

Australian Greens leader Richard Di Natale says an audit should be taken to determine the eligibility of all federal MPs to hold public office in the wake of the dual citizenship saga. University of New South Wales law expert George Williams says more MPs may fail the eligiblity requirements under section 44 of the Constitution. This would have major implications for the Federal Government, given that it has a one-seat majority in the lower house.

CORPORATES
AUSTRALIAN GREENS, UNIVERSITY OF NEW SOUTH WALES, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Sims urges energy price competition

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Original article by Ben Potter
The Australian Financial Review – Page: 3 : 27-Jul-17

Australian Competition & Consumer Commission chairman Rod Sims says state governments have contributed to the spike in electricity prices over the last decade. He cites factors such as appeals against the Australian Energy Regulator’s decision to reduce electricity network tariffs, mergers between electricity retailers and generators, and high solar feed-in-tariffs. Sims has also called for measures to curb the market dominance of established electricity retailers, such as making it easier for more companies to enter the market.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN ENERGY REGULATOR, AUSTRALIAN ENERGY MARKET COMMISSION

Plea to revive growth economy

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Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 10 : 27-Jul-17

Members of the Business Council of Australia’s board have called for the corporate tax rate to be reduced in order to lift the nation’s economic growth rate to at least three per cent. They argue that the economy needs to expand at such a rate to increase wages and create jobs. BCA president Grant King adds that regulatory and industrial relations reform is necessary to encourage jobs growth, particularly given the impact of digital disruption on the labour market.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESFARMERS LIMITED – ASX WES, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

‘No quick fix’ in tax plan for family trusts

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Original article by Joanna Mather
The Australian Financial Review – Page: 5 : 27-Jul-17

There is speculation that Opposition Leader Bill Shorten will propose subjecting family trusts to the same tax regime as companies. However, Bob Deutsch of the Tax Institute has questioned the merits of such a strategy, arguing that the dividend imputation system means that some beneficiaries of a trust would entitled to a full refund of the taxes paid. The recommendations of the Ralph Review of Business Taxation in 1999 included taxing trusts in the same way as companies.

CORPORATES
AUSTRALIAN LABOR PARTY, THE TAX INSTITUTE, KPMG AUSTRALIA PTY LTD, GREENWOODS AND HERBERT SMITH FREEHILLS PTY LTD

Second jobs growth steady, dispels fears

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 26-Jul-17

Data from the Australian Bureau of Statistics shows that the overall proportion of workers who have more than one job has remained steady at six per cent since 2010-11. Some 763,200 Australians had a second job in 2015-16, which is 3.7 per cent higher than the previous financial year and 9.2 per cent higher than in 2010-11. The figures are part of the ABS’s new "Labour Account" data, which aims to estimate the actual number of jobs across the economy.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS

Canavan quits cabinet over citizenship

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Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 26-Jul-17

Senator Matt Canavan will seek a High Court ruling on his eligibility to remain in Parliament after discovering that he may hold dual citizenship in Italy. Canavan has stepped down as the Minister for Resources and Northern Australia pending confirmation of his eligibility to be elected to Parliament. Canavan was born in Australia, but recently found out that his mother had applied for him to become an Italian citizen in 2006 without his knowledge or consent. Foreign-born Greens senators Scott Ludlam and Larissa Waters were recently forced to quit Parliament due to their dual citizenship.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, HIGH COURT OF AUSTRALIA, COURT OF DISPUTED RETURNS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT

Labor won’t abolish trusts, just tax them

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 26-Jul-17

Shadow treasurer Chris Bowen says the Australian Labor Party will still allow people to use trust structures if it wins the next federal election. However, Labor will crack down on the use of trusts as vehicles to reduce tax liabilities, although there are concerns that its measures could mainly affect users of trusts such as farmers and small businesses. Treasurer Scott Morrison says there are many legitimate reasons for using a trust.

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

It’s Official: Australians are concerned about security

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Jul-17

A Roy Morgan Single Source survey has found that 65% of Australians aged +14 agreed with the statement "I’m security conscious" in March 2017, compared with a low of 60.5% in September 2013. Meanwhile, 45% reported that "I feel less safe than I used to", up from 53% in 2003 and just 39% in mid-2014. The survey also shows that 58% of Australians agree that "Crime is a growing problem in my community", compared with 70% in 2003 and just 53% in June 2015.

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ROY MORGAN RESEARCH LIMITED

ANZ-Roy Morgan Australian Consumer Confidence rises to 115.1 (up 2.3%)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Jul-17

ANZ-Roy Morgan Australian Consumer Confidence rose 2.3% to 115.1 in the week ended 23 July 2017, following an 0.4% fall the previous week. The increase in confidence was driven primarily by an improvement in consumers’ views towards both current and future economic conditions. Households’ views around current financial conditions rose 1.8%, entirely reversing the prior week’s fall. Views towards future financial conditions were less positive, with the sub-index slipping 1.1%. Both sub-indices currently sit above their long-term averages. Consumers’ views towards current economic conditions increased a sharp 7.9%, bringing the sub-index to its highest point in 20 weeks. Views around future economic conditions rose 2.7%, more than offsetting the 1.6% decline in the previous week.

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