Coppleson predicts victory for Coalition government

Original article by James Thomson
The Australian Financial Review – Page: 33 : 2-Jun-16

Richard Coppleson of Bell Potter has forecast that the Australian Government will be returned to office on 2 July 2016 with a reduced majority of eight seats. He notes in the latest edition of the "Coppo Report" that a federal government has been ousted after one term just once in almost eight decades. Coppleson also notes that since 1949 there has always been a swing against the incumbent government at the first election after it took office.

CORPORATES
BELL POTTER SECURITIES LIMITED. AUSTRALIAN LABOR PARTY

CFMEU labourers on $150k a year

Original article by Elizabeth Colman
The Australian – Page: 6 : 2-Jun-16

New figures show that some construction workers in Australia’s eastern states are earning significantly more than the industrial award rate under enterprise bargaining agreements. Carpenters covered by union agreements in Queensland earn $A160,702 a year, while the award wage is just $A87,064. Likewise, building site labourers in Victoria are paid $A152,002 a year under an EBA. Master Builders Australia CEO Wilhelm Harnisch says construction workers’ EBA wages fail the "pub test".

CORPORATES
MASTER BUILDERS AUSTRALIA INCORPORATED. CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA. AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET. 2GB. AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Coles-union deal paid below legal safety net

Original article by Elizabeth Colman
The Australian – Page: 2 : 1-Jun-16

The Fair Work Commission has ruled against an enterprise bargaining agreement between grocery giant Coles and the Shop, Distributive & Allied Employees’ Association. The FWC found that the agreement does not comply with the Fair Work Act’s requirement that employees must be better off overall, as it provides for an hourly rate of pay that is above the award rate but includes lower penalty rates. The FWC had approved the deal in 2015, but a part-time employee challenged the validity of the agreement.

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, AUSTRALIA. FAIR WORK COMMISSION

Fears wage rise will hit hiring

Original article by David Crowe
The Australian – Page: 2 : 1-Jun-16

Australian Chamber of Commerce & Industry CEO James Pearson says the $A15.80 per week increase in the minimum wage will make small businesses in particular less likely to hire additional staff. The minimum wage will increase by 2.4 per cent to $A672.70 a week, but Pearson notes that wages in the private sector rose by just 1.9 per cent in the March 2016 quarter and the annual inflation rate is 1.3 per cent. ACTU secretary Dave Oliver says the increase in the minimum wage is good but should have been higher.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, ACTU, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN BUREAU OF STATISTICS

Company levy ‘just 4.3pc of total take’

Original article by Annabel Hepworth
The Australian – Page: 6 : 1-Jun-16

Analysis by Deloitte Access Economics suggests that the Australian Government will collect some $A1.11trn in corporate tax revenue between 2016-17 and 2026-27. It is estimated that the Government’s proposed company tax cuts will account for no more than 4.3 per cent of this revenue, and just 0.8 per cent of the Government’s overall revenue during this period. Minerals Council of Australia CEO Brendan Pearson says the Deloitte figures demonstrate that the proposed tax cuts are justified.

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DELOITTE ACCESS ECONOMICS PTY LTD, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MMG LIMITED – ASX MMG

Election now too close to call: ALP 51% cf. L-NP 49%. Minor Parties ‘won’ last night’s Leaders’ debate.

Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 30-May-16

A multi-mode Morgan Poll on Federal voting intention has found that support for Australia’s ruling Liberal-National Coalition on a two-party preferred basis has risen by 1.5 per cent to 49 per cent. The poll, which was carried out on the weekends of 21-22 and 28-29 May 2016, also shows that the Coalition’s primary vote has risen by one to 37.5 per cent, while the Roy Morgan Government Confidence Rating has fallen by 2.5 points to 102. Roy Morgan Research executive chairman Gary Morgan notes that support for the minor parties is at a massive 30 per cent (up 8.9 per cent from the 2013 Federal Election), and support for the minor parties will only rise after the uninspiring Leader’s debate. Prime Minister Malcolm Turnbull did not explain how the unemployed and under-employed (18.1 per cent, or 2.322 million) will get jobs and Opposition Leader Bill Shorten gave no indication on how a Labor Government would create more private sector jobs by massive increases in public sector spending. However, Turnbull and Shorten still have time to present believable policies which tackle Australia’s booming "cash economy" and reduce real unemployment and under-employment.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, NICK XENOPHON TEAM, FAMILY FIRST PARTY AUSTRALIA LIMITED, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

New ACCI head urges big workplace fix

Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 31-May-16

Australian Chamber of Commerce & Industry CEO James Pearson has called for action on the issue of industrial relations reform. He says ACCI surveys show that over-regulation and the compliance burden are key concerns for its members, and he has called for both sides of politics to put workplace reform on their policy agenda. Pearson also notes that debate on workplace reform is constantly stifled by unions’ claims that it will result in a return to WorkChoices-style workplace laws.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA), ACTU, SHELL COMPANY OF AUSTRALIA LIMITED, CHEVRON AUSTRALIA PTY LTD, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WESTERN AUSTRALIA. DEPT OF INDUSTRY AND RESOURCES, AUSTRALIA. FAIR WORK COMMISSION

Court fines CFMEU over airport blockade

Original article by Andrew Burrell
The Australian – Page: 5 : 31-May-16

Six senior officials of the militant Construction, Forestry, Mining & Energy Union have received fines ranging from $A1,000 to $A2,750 in the Federal Court of Australia. The union itself has been fined $A12,500 for breaching industrial laws by blockading a project to upgrade Perth Airport in 2013. Fair Work Building & Construction director Nigel Hadgkiss notes that the CFMEU and its officials have now been fined three times in May 2016 for breaches of the Fair Work Act.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, FAIR WORK BUILDING AND CONSTRUCTION, PERTH AIRPORT

Labor’s decade of 49pc tax

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 31-May-16

The Australian Labor Party will retain the Budget deficit levy on high-income earners for at least 10 years if it wins the federal election. The levy was intended to be phased out in mid-2017, and Labor has previously flagged keeping it in place beyond this date for an unspecified period. Labor intends to retain the levy in order to finance its healthcare funding. The Australian Greens also support retaining the levy and would most likely back legislation to extend it beyond 2017.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Morrison worried about growth

Original article by Jacob Greber, Mark Mulligan
The Australian Financial Review – Page: 1 & 4 : 31-May-16

Economists forecast that the Australian economy expanded by just 0.6 per cent in the March 2016 quarter. Data to be released on 31 May is tipped to show GDP growth of 2.7 per cent year-on-year during the quarter, compared with three per cent previously. Treasurer Scott Morrison has used the slowing economy to defend the Federal Government’s push to reduce the corporate tax rate. He has also criticised Opposition Leader Bill Shorten for opposing tax cuts that would stimulate economic activity.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA