O75 Public Administration

Fear grows AAA rating to be lost

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Original article by David Uren
The Australian – Page: 1 & 5 : 20-Oct-16

Treasury secretary John Fraser has warned that every Australian would be affected by a downgrade of the nation’s "AAA" credit rating. The Federal Government is hopeful that the mid-year budget update will feature a modest decline in the deficit, although there are concerns that this may not be sufficient to avert a rating downgrade. Craig Michaels of S&P Global Ratings has reiterated the need for the Government to implement budget savings measures. Meanwhile, Treasury is not expected to take into account the recent rise in coal prices when preparing economic forecasts for the mid-year update.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, S&P GLOBAL RATINGS, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM

NXT nixes big business tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 7 : 19-Oct-16

The Nick Xenophon Team’s three senators will vote against the Federal Government’s $A48bn package to progressively reduce the company tax rate to 25 per cent over 10 years. The Government requires the support of at least nine of the 11 crossbenchers for its proposal to reduce the tax rate for all companies with turnover of at least $A10m, as the Opposition only favours a tax cut for companies whose turnover is no more than $A2m. Business groups have called for the implementation of the full tax reform package.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, ESSENTIAL MEDIA COMMUNICATIONS PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence rises 0.3% to 117.8

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Oct-16

ANZ-Roy Morgan Australian Consumer Confidence edged up 0.3 per cent to 117.8 in the week ended 16 October 2016, reversing the 0.3 per cent fall last week. While the headline index has changed little over the past two weeks, there has been considerable variation in the sub-indices. Consumers’ views towards their current finances fell by 2.4 per cent, while views towards future finances rose one per cent. Households’ views of the 12-month economic outlook rose by 0.4 per cent, while views of the five-year economic outlook rose by 0.1 per cent.

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

ABCC bill passes House of Reps

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Original article by
Skynew.com.au – Page: Online : 19-Oct-16

The Federal Government’s bill to reinstate the Australian Building & Construction Commission was passed by the House of Representatives on 18 October 2016. The Government is negotiating with crossbenchers to pass the bill in the Senate. Meanwhile, Prime Minister Malcolm Turnbull says the ABCC bill and the registered organisations bill are aimed at boosting the economy rather than targeting unions. However, Coalition backbench MP Andrew Laming has questioned whether unions are still necessary.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, LIBERAL DEMOCRATIC PARTY, NICK XENOPHON TEAM, COUNCIL OF AUSTRALIAN GOVERNMENTS

ABCC bill could shut out companies

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 19-Oct-16

The Federal Government will not back down on its plan to make a national building code retrospective as part of its legislation to reinstate the Australian Building & Construction Commission. The code will apply to all enterprise agreements that have been made since 2014, and compliance with the code will be a condition of being granted federal construction contracts. However, some pattern bargaining agreements struck by the Construction, Forestry, Mining & Energy Union and the Electrical Trades Union in Victoria and Queensland would not comply with the proposed code.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, ELECTRICAL TRADES UNION, AUSTRALIA. DEPT OF EMPLOYMENT

Senate rides shotgun on IR bills

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 2 : 18-Oct-16

The Australian Government is hopeful that all but one senate crossbencher, Jacqui Lambie, will be open to supporting its bills to reinstate the Australian Building & Construction Commission and establish a Registered Organisations Commission. However, some crossbenchers have a list of policies they want implemented in return for their support. Amongst other things, Nick Xenophon will press for imported building materials to be subject to local building standards and increased protection for whistleblowers, while David Leyonhjelm wants importation of the seven-shot Adler shotgun to be legalised.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, HOME AUSTRALIA PTY LTD, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Day departs the house as home-building dreams turn to nightmare

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Original article by Ben Butler, Samantha Hutchins, Rick Wallace
The Australian – Page: 1 & 5 : 18-Oct-16

Family First senator Bob Day has resigned from Parliament after his residential development company, Home Australia, was placed in the hands of liquidators from McGrathNicol. The collapse has affected 207 unfinished homes in five states, and the liquidators will seek to have other builders complete these homes. Day has apologised to affected customers and conceded that he will lose his own home, as he had provided a personal guarantee for Home Australia’s debts. He has committed to repaying all of the company’s debts.

CORPORATES
FAMILY FIRST PARTY AUSTRALIA LIMITED, HOME AUSTRALIA PTY LTD, McGRATH NICOL AND PARTNERS SERVICES PTY LTD, GOSHEN CAPITAL RESOURCES, HSBC HOLDINGS PLC, QBE INSURANCE GROUP LIMITED – ASX QBE

Trade surge could cut $23b from deficit

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 14-Oct-16

Australia’s 2016-17 Budget deficit is forecast to be $A63.2bn, but analysis shows that a sustained rise in commodity prices could slash the deficit by around $A23bn. The prices of coking coal, thermal coal and iron ore have risen sharply since August 2016, and Commonwealth Bank economist Kristina Clifton says the nation’s terms of trade would improve if prices remain at around current levels for the next six months. She adds that this would also have a flow-on effect on household incomes.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Fair Work member brands Coles penalty rates ruling ‘illogical’

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 14-Oct-16

The decision of the Fair Work Commission’s full bench to uphold the challenge to a Coles workplace agreement by a part-time worker has wider consequences. The Coles decision prompted Woolworths, Bunnings, Target, Domino’s Pizza and other companies to suspend enterprise bargaining talks for fear of their agreements being also challenged. FWC deputy president Peter Sams criticised some aspects of the Coles decision.

CORPORATES
SUPERMARKET AND FOOD STORE SALES, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, WOOLWORTHS LIMITED – ASX WOW, AUSTRALIA. FAIR WORK COMMISSION, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, BUNNINGS GROUP LIMITED, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, CORRS CHAMBERS WESTGARTH, TARGET AUSTRALIA PTY LTD

ABS threat to axe IR dispute data

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Original article by David Uren
The Australian – Page: 3 : 14-Oct-16

The Australian Bureau of Statistics (ABS) may be unable to collect information on industrial disputes because of budget constraints. Chief statistician David Kalisch said other services that are vulnerable to cuts include retail trade, housing and lending finance reports. Their monthly frequency is under threat. The ABS could also reduce the number of reports on Australia’s global trade.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, HSBC AUSTRALIA HOLDINGS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET