O75 Public Administration

Morrison may block China sale

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Original article by Primrose Riordan
The Australian Financial Review – Page: 1 & 6 : 8-Aug-16

The New South Wales Government’s partial privatisation of Ausgrid could be blocked on the grounds of national security. Cheung Kong Infrastructure and China’s State Grid Corporation are expected to pay about $A10bn for a 50.4 per cent stake in the electricity grid, via a 99-year lease. However, the deal must be approved by the Foreign Investment Review Board, and federal Treasurer Scott Morrison says national security will be the main consideration. Several MPs and senators have expressed concern about the proposed sale of Ausgrid.

CORPORATES
AUSGRID PTY LTD, STATE GRID CORPORATION OF CHINA, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ONE NATION PTY LTD, NICK XENOPHON TEAM, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TRANSGRID, S KIDMAN AND COMPANY PTY LTD, UNIONS NSW, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Flame out: Labor Left union brawl cost Shorten the election

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Original article by Aaron Patrick
The Australian Financial Review – Page: 1 & 36 : 5-Aug-16

The Australian Labor Party lost one Victorian seat in the 2016 federal election, although it had expected to win at least two. Party insiders downplay the impact that the Country Fire Authority dispute had on Labor’s federal election prospects, although Veterans’ Affairs Minister Dan Tehan says the dispute ensured that the Coalition was returned to office with a one-seat majority rather than the election resulting in a hung parliament. United Firefighters’ Union secretary Peter Marshall does not believe that the CFA dispute had any impact on the election result.

CORPORATES
AUSTRALIAN LABOR PARTY, VICTORIA. COUNTRY FIRE AUTHORITY, UNITED FIREFIGHTERS’ UNION OF AUSTRALIA, AUSTRALIA. DEPT OF VETERANS’ AFFAIRS, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, MELBOURNE METROPOLITAN FIRE BRIGADE, VICTORIAN BUILDING INDUSTRY DISPUTES PANEL, AUSTRALIAN GREENS, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF THE ENVIRONMENT, KING AND WOOD MALLESONS, NATIONAL PARTY OF AUSTRALIA

Hanson’s power bloc holds key in ABCC union battle

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Original article by David Crowe
The Australian – Page: 1 & 2 : 5-Aug-16

The support of One Nation in the Senate may be crucial to the Coalition’s chances of passing legislation to reinstate the Australian Building & Construction Commission. The Coalition will have 30 seats in the new Senate, while the Australian Labor Party and the Greens will have 26 and nine respectively. The Coalition will need 39 votes to pass the ABCC bill in the upper house, or 114 in a joint sitting of Parliament. One Nation senator-elect Brian Burston has indicated that he is likely to support the ABCC bill.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIA. DEPT OF EMPLOYMENT

Red tape ‘pushing investors elsewhere’

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Original article by Joe Kelly
The Australian – Page: 6 : 4-Aug-16

A report produced by the Institute of Public Affairs estimates that excessive regulation costs the Australian economy about $A176bn each year. The report, by senior fellow Mikayla Novak, also raises doubts about the effectiveness of the Federal Government’s push to reduce the compliance burden since it took office in 2013. Novak argues that the overall reduction in "red tape" has been offset by the introduction of new regulations and legislation. The report also warns that over-regulation is deterring foreign investment in Australia/

CORPORATES
INSTITUTE OF PUBLIC AFFAIRS LIMITED, FRASER INSTITUTE, HERITAGE FOUNDATION, WORLD ECONOMIC FORUM, WORLD BANK

Millions can cash out leave

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Original article by Nick Toscano
The Age – Page: 23 : 4-Aug-16

Almost two million Australian employees who are covered by the modern industrial awards system will now have the option of cashing out part of their annual leave entitlement. The Fair Work Commission’s decision to allow cashing out has the support of the Australian Chamber of Commerce & Industry, although ACTU secretary Dave Oliver has expressed concern about the potential ramifications of the decision. The FWC is expected to issue a ruling on weekend penalty rates in September 2016.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, ACTU

Tax reform taskforce to shut down

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Original article by Joanna Mather
The Australian Financial Review – Page: 8 : 4-Aug-16

The Federal Government is believed to have decided to wind up the Tax White Paper Unit, which has operated within the Treasury since March 2015. The taskforce is likely to cease to operate within weeks. The Government seems to be unwilling to consider tax reforms other than changes to superannuation and the company tax rate.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Senate count favours ABCC bill

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Original article by David Crowe
The Australian – Page: 6 : 4-Aug-16

The Federal Government’s chances of getting its Australian Building & Construction Commission legislation passed by a joint sitting of Parliament have been bolstered after the Liberal Party’s Jane Hume won the final Senate seat in Victoria. The Government needs 114 votes in a joint sitting, and it will commence negotiations with crossbenchers to support the bill. The final two Senate seats are expected to be decided shortly.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NICK XENOPHON TEAM, ONE NATION PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, LIBERAL DEMOCRATIC PARTY, CHRISTIAN DEMOCRATIC PARTY, AUSTRALIAN ELECTORAL COMMISSION

Super review to scrutinise banks’ power

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Original article by Sally Rose, Sally Patten
The Australian Financial Review – Page: 3 : 3-Aug-16

The market power of bank-owned retail superannuation funds will be scrutinised by the Productivity Commission as part of its review of vertical integration in the banking sector. The Commission has released a draft report on the first stage of its review, and a consultation process on the draft report remain open until 9 September 2016. Productivity Commission deputy chair Karen Chester says a key issue is whether super fund members are benefiting from the economies of scale generated by vertical integration.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, INDUSTRY SUPER AUSTRALIA PTY LTD, FINANCIAL SERVICES COUNCIL, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

RBA cuts, dismissing property bubble risk

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 3-Aug-16

Financial markets believe there is a 52 per cent chance that the Reserve Bank will reduce official interest rates to 1.25 per cent by November 2016, after the cash rate was cut by 25 basis points to 1.5 per cent on 2 August. The central bank has now reduced the cash rate by 3.25 per cent during the current monetary policy easing cycle, which began in late 2011. The RBA has warned that inflation is likely to remain low for some time, and noted that a housing price bubble now appears to be unlikely.

CORPORATES
RESERVE BANK OF AUSTRALIA

Rates cut on cards as economy loses gloss

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Original article by David Uren
The Australian – Page: 2 : 2-Aug-16

The Reserve Bank of Australia is widely tipped to reduce official interest rates to a new low of 1.5 per cent on 2 August 2016. The central bank’s monetary policy easing cycle began in November 2011, and it has since reduced the cash rate 11 times. Factors such as Australia’s low inflation rate and the uncertain outlook for the US and Chinese economies may prompt another cut. However, Tim Lawless of CoreLogic says the RBA will be mindful that a rate cut could put more upward pressure on house prices.

CORPORATES
RESERVE BANK OF AUSTRALIA, CORELOGIC AUSTRALIA PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, REUTERS HOLDINGS PLC