O75 Public Administration

Bring back the ABCC: Cole

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Original article by Joe Kelly
The Australian – Page: 6 : 2-Feb-16

Legislation to reinstate the Australian Building & Construction Commission (ABCC) will be a priority for the Federal Government when Parliament resumes on 2 February 2016. Its reinstatement has been supported by Terence Cole, who headed the Royal Commission into the Building & Construction Industry in 2001. He argues that the ABCC’s crackdown on unlawful union conduct had resulted in cost savings of about $3.1bn a year by 2007. The ABCC was abolished by the Australian Labor Party in 2012.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO THE BUILDING AND CONSTRUCTION INDUSTRY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN GREENS, BUSINESS COUNCIL OF AUSTRALIA, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

Palmer tops list of political generosity

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Original article by Primrose Riordan, Edmund Tadros, Ewin Hannan
The Australian Financial Review – Page: 7 : 2-Feb-16

Mining magnate Clive Palmer donated almost $A10 million to his own Palmer United Party in 2014-15. Annual disclosure returns, released by the Australian Electoral Commission, show that Palmer was the largest political donor in 2015. The total amount of political donations fell significantly, with the Liberal Party of Australia recording a 40 per cent decline in receipts.

CORPORATES
MINERALOGY PTY LTD, PALMER UNITED PARTY, QUEENSLAND NICKEL PTY LTD, COOLUM RESORT PTY LTD, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, BRUNSWICK PROPERTY VENTURE PTY LTD, EVER BRIGHT GROUP PTY LTD, CORMACK FOUNDATION PTY LTD, PHILIP MORRIS (AUSTRALIA) LIMITED, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, WESFARMERS LIMITED – ASX WES, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, COMMUNICATIONS, ELECTRICAL, ELECTRONIC, ENERGY, INFORMATION, POSTAL, PLUMBING AND ALLIED SERVICES UNION OF AUSTRALIA, AUSTRALIAN GREENS, VISY INDUSTRIES AUSTRALIA PTY LTD, PRATT HOLDINGS, AUSTRALIAN ELECTORAL COMMISSION

Labor cigs tax plan a ‘budget risk’

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 2-Feb-16

Professor Sinclair Davidson of RMIT University is among experts who have questioned the Federal Opposition’s proposal to fund services such as education via a sharp rise in the tax on tobacco products. He notes that fewer people are smoking, and he adds that raising the cost of cigarettes too much could reduce tax revenue as more people opt for illegal tobacco. Grattan Institute CEO John Daley has also expressed doubts that increasing tobacco excise would generate sufficient revenue to pay for services whose cost is rising faster than GDP.

CORPORATES
AUSTRALIAN LABOR PARTY, RMIT UNIVERSITY, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, INDUSTRY SUPER AUSTRALIA PTY LTD, LIBERAL PARTY OF AUSTRALIA

GST pitch just in time for election

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 5 : 2-Feb-16

The Australian Government is believed to favour lifting the GST to 15 per cent without broadening the scope of the tax. However, it is said to be looking at postponing the release of its tax reform package until shortly before the 2016 election rather than timing it to coincide with the Budget in May. The Howard Government adopted a similar strategy in 1999, when it outlined plans to introduce the GST just before the election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, NEWSPOLL, IPSOS AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Reject corrupt union deals, bosses urged

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

The Federal Government will reintroduce legislation to reinstate the Australian Building & Construction Commission when Parliament resumes for 2016. Employment Minister Michaelia Cash says the proposed legislation will include a new building code that bars companies which secure illegal deals with unions from being awarded public contracts. Meanwhile, the Opposition will propose harsher financial penalties for companies that underpay staff or use sham contractual arrangements.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, 7-ELEVEN STORES PTY LTD, MYER HOLDINGS LIMITED – ASX MYR

$100b GST hike to pay for tax cuts

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Original article by Phillip Coorey, Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 1-Feb-16

The New South Wales Government will make a final push to achieve consensus among the states and territories on changes to the GST. Premier Mike Baird has previously advocated lifting the GST to 15 per cent and spending all proceeds on hospitals, education and compensation for the tax increase. However, he now proposes using the proceeds of the GST increase in the first year to finance corporate and personal income tax cuts, as well as compensation. Meanwhile, $A7bn of GST revenue would be allocated to hospitals and the education system in the three years to 2019-20.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Terms of trade slump mires budget outlook

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 29-Jan-16

The Australian Government’s mid-year budget update in December 2015 had forecast a 10.5 per cent decline in the nation’s terms of trade in 2015-16. However, the latest trade data has prompted analysts to estimate that the terms of trade declined by between 4.5 per cent and 5.2 per cent in the December 2015 quarter. The downturn in the prices of key export commodities have hit the terms of trade, which may in turn significantly impact on government revenue.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, INDUSTRY SUPER AUSTRALIA PTY LTD, JP MORGAN AUSTRALIA LIMITED, FITCH RATINGS LIMITED

Inflation uptick takes interest rate cut off the table

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 2 : 28-Jan-16

Data from the Australian Bureau of Statistics show that consumer inflation rose by a higher-than-expected 0.4 per cent in the December 2015 quarter. The annual inflation rate was also above expectations at 1.7 per cent. Financial markets have responded to the inflation data by downgrading the chances of a rise in the cash rate in February to just four per cent. Morgan Stanley’s Daniel Blake says a mid-year rate cut remains on the cards given the CPI data.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, MORGAN STANLEY AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, DEUTSCHE BANK AG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BANK OF JAPAN, STANDARD AND POOR’S ASX 200 INDEX

Fresh food may be spared GST by Coalition

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Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 28-Jan-16

The issue of tax reform and the GST will be on the agenda of federal Cabinet ministers on 28 January 2018. Increasing the GST to 15 per cent is believed to be the Government’s preferred reform option, although the National Party will oppose any push to extend the GST to fresh food due to concerns that it would particularly affect people on low incomes. The Government has already ruled out broadening the scope of the GST to include healthcare and education.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET

Workers promised fair new industrial regime

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Original article by Phillip Coorey, Ewin Hannan
The Australian Financial Review – Page: 4 : 28-Jan-16

Federal Employment Minister Michaelia Cash has promised that all parties would be consulted on the proposed changes to industrial relations laws. She said on 27 January 2016 that the protection of workers’ rights will not be compromised. In her view, workers need a "strong safety net." The Federal Government is considering the introduction of enterprise contracts for medium-sized businesses.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN GREENS, ACTU