O75 Public Administration

PM ‘won’t blow’ iron ore bonus

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 11-Mar-16

The benchmark iron ore price has fallen below $US60 per tonne, although it remains significantly above the forecast of just $US39/tonne in the Australian Government’s mid-year Budget update. A sustained upturn in the price of the steel input could potentially boost government revenue by up to $A15bn over four years. However, government sources have indicated that the additional revenue will be used to reduce the deficit instead of financing larger tax cuts than the modest reduction that the Government is planning.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, RESERVE BANK OF NEW ZEALAND, EUROPEAN CENTRAL BANK, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION

Record number of Australians employed in February as unemployment falls to 10%

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Mar-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate fell from 10.3 per cent to 10 per cent in February 2016. The number of people in the workforce has risen to a record 13,174,000 (up 648,000 since February 2015), and a record 11,855,000 Australians are employed (up 710,000 in the last 12 months). Meanwhile, 1,161,000 people (8.8 per cent of the workforce) are under-employed. The official unemployment rate was four per cent in January 2016.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Carnell laments IR reform inertia

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 11-Mar-16

Australian Chamber of Commerce & Industry CEO Kate Carnell stepped down on 10 March 2016 after two years in the role. Carnell describes the Federal Government’s lack of action on the issue of industrial relations reform has her biggest failure during her tenure. She says the IR system is too complex, restrictive and inflexible, and it must be overhauled to reflect workplaces of the future. Carnell will become the federal small business ombudsman.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN FOOD AND GROCERY COUNCIL, AUSTRALIAN GENERAL PRACTICE NETWORK LIMITED, BEYOND BLUE AUSTRALIA PTY LTD

Subsidy won’t generate target

roymorgansocial Leave a comment

Original article by Ben Potter
The Australian Financial Review – Page: 8 : 10-Mar-16

Insufficient investment in wind and solar energy generation will make it difficult for Australian to reach the Renewable Energy Target (ERT). According to Bloomberg New Energy Finance, 532 megawatts of new wind and solar projects are under construction, which is less than a tenth of the capacity required to meet the RET. The Federal Government may need to renegotiate the target with the Opposition.

CORPORATES
BLOOMBERG LP, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE ENVIRONMENT

Coles slammed over pay rorts

roymorgansocial Leave a comment

Original article by Michael Owen
The Australian – Page: 4 : 10-Mar-16

Australia’s Fair Work Ombudsman Natalie James has criticised Coles for failing to ensure that supermarket trolley collectors employed by sub-contractors were being paid their full wages. She says large companies can expect to be held accountable for wage exploitation in all levels of the supply chain. The FWO has successfully prosecuted two trolley collection businesses that underpaid staff in Adelaide. Coles has also agreed to provide the employees with substantial back pay.

CORPORATES
COLES SUPERMARKETS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA, STARLINK OPERATIONS GROUP PTY LTD

In hock to the world as debt tops $1 trillion

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 6 : 10-Mar-16

National accounts data shows that Australia’s total foreign debt has risen to more than 60 per cent of GDP, compared with just 37 per cent in 1996. Foreign debt has risen from $A180bn to more than $A1trn in the last two decades. The Australian Labor Party’s treasury spokesman, Chris Bowen, notes that public sector debt has blown out from $A90bn to $A250bn since Barnaby Joyce was dropped as finance spokesman when the Coalition was in opposition.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, LF ECONOMICS

Judge slams CFMEU’s ‘thuggery’

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian Financial Review – Page: 9 : 10-Mar-16

Federal Circuit Court judge Salvatore Vasta has imposed a penalty of $A9,000 on union official Scott Vink. The Construction, Forestry, Mining & Energy Union must pay $A48,000. Justice Vasta said that Vink’s behaviour towards non-union members was "sheer thuggery". Vink was found to have breached the Fair Work Act when he verbally abused non-CFMEU members on a building site in Brisbane on 5 March 2014.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL CIRCUIT COURT OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, FAIR WORK BUILDING AND CONSTRUCTION, FRANKIPILE AUSTRALIA PTY LTD

Double-D plus six: PM’s poll options narrowing

roymorgansocial Leave a comment

Original article by Phillip Hudson
The Australian – Page: 1 & 6 : 10-Mar-16

Prime Minister Malcolm Turnbull is believed to favour 2 June as the date for the federal election if he opts for a double-dissolution poll. It is the day after changes to the voting system for the Senate are due to take effect. However, Turnbull is likely to have few alternative options for the election date, with 3 September regarded as the most likely date for a half-Senate election. Factors such as the Olympic Games and football grand finals will influence the timing of the poll.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN GREENS, NEWSPOLL, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, LIBERAL PARTY OF AUSTRALIA

Resources surge offers PM hope of budget boost

roymorgansocial Leave a comment

Original article by David Uren
The Australian – Page: 1 & 2 : 9-Mar-16

The Australian Government’s Budget bottom line is expected to be boosted by the rebound in commodity prices. Iron ore and crude oil prices have rallied in recent weeks, which may help to offset the $A7bn in forgone government revenue due to the sharp downturn in commodity prices in 2015. The iron ore price has risen above $US60 per tonne in early March, compared with the Government’s revised forecast of just $US39/tonne in its mid-year Budget update in December.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, WESTPAC BANKING CORPORATION – ASX WBC, INTERNATIONAL MONETARY FUND, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Early budget talk, election options narrow

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 8-Mar-16

The Australian Government is considering moving the Budget forward one week to 3 May 2016. Should it opt to call a double-dissolution election, it must do so no later than 11 May in order to hold such an election on its preferred date of 2 July. A half-Senate election in August is also being considered. The bill to reinstate the Australian Building & Construction Commission remains a potential trigger for a double-dissolution election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, LIBERAL PARTY OF NEW SOUTH WALES