O75 Public Administration

Government may step in, PM warns gas sector

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Original article by Sarah Martin
The Australian – Page: 1 & 2 : 20-Apr-17

Prime Minister Malcolm Turnbull held further talks with energy industry CEOs on 19 April 2017, as part of the Federal Government’s efforts to resolve the gas crisis. However, the energy groups’ failure to offer new strategies to increase domestic gas supplies prompted Turnbull to raise the prospect of more government intervention in the sector. The Government has also asked the Australian Competition & Consumer Commission to use its inquiry powers to investigate the domestic gas market over the next three years.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, ROYAL DUTCH SHELL PLC, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, THE AUSTRALIAN INDUSTRY GROUP

PM toughens citizenship test

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 20-Apr-17

The Federal Government will impose stricter rules for foreigners seeking to become Australian citizens, as part of sweeping changes to immigration and visa rules. Amongst other things, people applying for citizenship will have to demonstrate adherence with "Australian values", while they will be subject to stricter criminal background checks and have better English-language skills than required at present. People will also not be eligible for citizenship unless they have resided in Australia for a minimum of four years.

CORPORATES
AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ANZ-Roy Morgan Australian Consumer Confidence declining again – down 2.2pts to 112.6

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 20-Apr-17

Headline ANZ-Roy Morgan Australian Consumer Confidence fell 1.9% to 112.6 in the week ended 16 April 2017, partly reversing the previous week’s gain. This dragged the index back down below its long run average. The performance of the sub-indices was largely negative, with only one of the five sub-indices recording a rise. Households’ expectations for economic conditions over the next year fell 1.9%, while expectations for economic conditions over the next five years dropped a sharp 4.1%, to be at its lowest level since September 2015. Households’ views towards their current finances fell a modest 0.7%, while views about future finances improved 2.7%, to the highest level since February.

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

Wealthiest 3pc of earners pay 30pc of tax

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Original article by Joanna Mather
The Australian Financial Review – Page: 2 : 19-Apr-17

Data from the Australian Taxation Office shows that the Federal Government collected $A177bn in income tax revenue in 2014-15. People in the highest tax bracket contributed $A53bn to government coffers, which equates to 30 per cent of the income tax take. People in this tax bracket account for just three per cent of taxpayers. The Government also reaped $A69.3bn in income tax from people in the second-highest tax bracket in 2014-15, which equates to 39.1 per cent of total tax revenue.

CORPORATES
AUSTRALIAN TAXATION OFFICE, THE CENTRE FOR INDEPENDENT STUDIES LIMITED, UNIVERSITY OF NEW SOUTH WALES

Students face higher ed budget cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 19-Apr-17

The Australian Government’s May 2017 Budget could include new measures that target university students and graduates. Stalled measures in the 2014 Budget are tipped to be abandoned, prompting speculation that the Government will seek to offset the failed $A7bn worth of spending cuts. These could potentially include an increase in students’ fees and a reduction in the income threshold for the repayment of HECS-HELP debts. At present, graduates must begin repaying their student debt when their annual income reaches $A54,869.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING

Business to pay as 457 visas axed

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Original article by Simon Benson, Sarah Martin
The Australian – Page: 1 & 4 : 19-Apr-17

People who are currently in Australia on 457 skilled visas will not be affected by the Federal Government’s move to replace them with two new types of temporary foreign worker visas that are subject to stricter criteria. The May 2017 Budget is expected to include a new foreign worker tax, which will be paid into a fund that will provide training for Australians in sectors that are experiencing a skills shortage. There has been a mixed response to the reforms within the business sector.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), ACTU, ONE NATION PARTY, ATLASSIAN CORPORATION PLC, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN LABOR PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

IMF outlook perks up for jobs, inflation

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 19-Apr-17

The International Monetary Fund has forecast global economic growth of 3.5 per cent in 2017 and 3.6 per cent in 2018. The latest World Economic Outlook report also forecasts that Australia’s economic growth rate will rise to 3.4 per cent year-on-year by the December 2017 quarter, while the economy is forecast to grow by three per cent in 2018. Meanwhile, the IMF expects the nation’s unemployment rate to fall to 5.1 per cent in 2018. The IMF’s outlook for Australia is much more bullish than the most recent forecasts issued by the Treasury.

CORPORATES
INTERNATIONAL MONETARY FUND, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, JP MORGAN AUSTRALIA LIMITED

Ombudsman calls for tough work penalties

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Original article by Anna Patty
The Age – Page: 21 : 13-Apr-17

Fair Work Ombudsman Natalie James addressed a Senate inquiry on 12 April 2017. She conceded that the FWO has limited capacity to combat employers who deliberately ignore workplace laws because they feel that the potential financial penalties for underpaying staff are sufficiently low to make non-compliance worth the risk. James warned that employers will continue to exploit vulnerable workers unless the sanctions for non-compliance are sufficiently increased to provide a genuine deterrent. The inquiry is examining proposed changes to the Fair Work Act.

CORPORATES
AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. SENATE EDUCATION AND EMPLOYMENT LEGISLATION COMMITEE, 7-ELEVEN STORES PTY LTD, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, CALTEX AUSTRALIA LIMITED – ASX CTX

Australia, Asia ‘still vital’ for US trade

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Original article by Michael Owen
The Australian – Page: 2 : 13-Apr-17

The Asia-Pacific region remains "strategically and economically" important to the US, according to the acting ambassador to Australia, James Carouso. He stresses that President Donald Trump’s decision to withdraw from the Trans-Pacific Partnership will not affect the US’s engagement with the region, and the US will continue to pursue bilateral trade deals in Asia. Carouso also notes that two-way trade between Australia and the US has increased significantly since the free trade agreement between the two nations was ratified in 2004.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ASIA-PACIFIC ECONOMIC CO-OPERATION, BOEING COMPANY, CHEVRON CORPORATION, GENERAL ELECTRIC COMPANY, 3M CORPORATION, CISCO SYSTEMS INCORPORATED, SOUTH AUSTRALIAN HEALTH AND MEDICAL RESEARCH INSTITUTE LIMITED

Turnbull turns up heat on Shorten over Adani loan

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Original article by Joe Kelly
The Australian – Page: 2 : 13-Apr-17

Opposition Leader Bill Shorten still opposes granting Adani a concessional loan from the Northern Australian Infrastructure Facility to build a rail line associated with its Carmichael coal project. He notes that Prime Minister Malcolm Turnbull indicated in 2016 that the project would not receive financial support from taxpayers. Resources Minister Matt Canavan has also criticised Labor counterpart Jason Clare for claiming that Adani would have exclusive access to the rail line. Canavan says that several other coal miners would benefit from the rail line.

CORPORATES
ADANI ENTERPRISES LIMITED, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, AUSTRALIAN LABOR PARTY, HANCOCK PROSPECTING PTY LTD, GVK INDUSTRIES LIMITED, WARATAH COAL PTY LTD, MACMINES AUSTASIA PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA