O75 Public Administration

Beyond the boom: life in economy

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Original article by David Uren
The Australian – Page: 1 & 4 : 3-Dec-15

The latest GDP data shows that the Australian economy expanded by 0.9 per cent in the September 2015 quarter, and 2.5 per cent year-on-year. The quarterly GDP data bolstered both the Australian dollar and the local sharemarket on 2 December, while it will also help improve the Budget bottom line. Meanwhile, domestic demand has risen by 4.2 per cent in Victoria and 2.6 per cent in New South. However, the decline in capital investment in the resources sector has resulted in domestic demand falling in Western Australia and Queensland.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN BUREAU OF STATISTICS, BARCLAYS BANK PLC, AUSTRALIAN LABOR PARTY

Rio’s Walsh wants Australia to aim for Asia’s tax rate

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Original article by Amanda Saunders
The Australian Financial Review – Page: 9 : 3-Dec-15

Rio Tinto CEO Sam Walsh says reducing Australia’s company tax rate is the best way to encourage investment and new business start-ups. He notes that the average corporate tax rate in Asia is around 21 per cent, and suggests that Australia should seek to reduce its company tax rate to a similar level.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GROUP OF TWENTY (G-20)

Iron ore hit undermines budget

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Original article by Phillip Coorey, Stephen Cauchi
The Australian Financial Review – Page: 1 & 4 : 2-Dec-15

The Australian Government’s May 2015 Budget was based on expectations that the spot price of iron ore price would average $A48 per tonne for the calendar year. However, its average price in the year to date has been less than $US47 per tonne, and ore with 62 per cent iron content delivered to China’s port of Qingdao recently fell to $US42.97 per tonne. The downturn in the iron ore price will affect revenue forecasts in the upcoming Mid-Year Economic and Fiscal Outlook, as well as the Government’s timeframe for achieving a Budget surplus.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD

Labor’s 45pc emissions cut would need $200 carbon price

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 12 : 2-Dec-15

The Australian Government aims to reduce greenhouse gas emissions by 26-28 per cent by 2030 under its Direct Action policy. In contrast, the Opposition has set a target of a 45 per cent reduction in carbon emissions by 2030. However, economist Warwick McKibbin has cautioned against placing too much emphasis on the use of international carbon permits to achieve these targets, as it is difficult to forecast the cost of such permits by 2030.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Federal Voting Intention unchanged. L-NP (56%) cf. ALP (44%); Confidence in Turnbull Government up again – highest since March 2011

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 30-Nov-15

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 is unchanged at 56 per cent. The poll, which was carried out on the weekends of 21-22 and 28-29 November 2015, also shows that the Coalition’s primary vote has risen by 0.5 per cent to 46.5 per cent, while the Roy Morgan Government Confidence Rating has risen by 2.5 points to 122 points. Roy Morgan Research executive chairman Gary Morgan says that despite the issues of global warming and terrorism dominating the news headlines lately, Malcolm Turnbull’s most important task as Prime Minister is to ensure a growing Australian economy which provides gainful employment to as many Australians as possible. Ultimately it is job creation and sustainable economic growth in Australia which will decide the success or otherwise of Turnbull’s Prime Ministership.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, KATTER’S AUSTRALIAN PARTY, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Retirees urged to sell homes

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 1-Dec-15

The Productivity Commission will release a report on housing and retirement on 1 December 2015. The commission will recommend releasing capital which is now frozen as equity in residential property. This money could be used as retirement income. Commissioner Karen Chester says Australians must change their attitude to property.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED

Cbus workers charged over CFMEU leak

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Original article by Ewin Hannan, Nick McKenzie, Richard Baker
The Australian Financial Review – Page: 5 : 1-Dec-15

Former Cbus employees Maria Butera and Lisa Zanatta have been charged with giving misleading evidence to the Royal Commission into Trade Union Governance and Corruption. They allegedly leaked details of the superannuation fund’s members to Brian Parker, the New South Wales secretary of the Construction, Forestry, Mining & Energy Union. Parker may also be charged.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, LIS-CON HOLDINGS PTY LTD, MELBOURNE MAGISTRATES’ COURT, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION

Fossil fuel phase-out dumped after revolt

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 1-Dec-15

Prime Minister Malcolm Turnbull will not sign a global agreement to gradually eliminate fossil fuel subsidies. Opposition from mining companies and farmers was too strong for the Australian Government to ignore. The Fossil-Fuel Subsidy Reform Communique, which the Government was meant to sign on 30 November 2015, was opposed by these two sectors on the grounds that it would cost jobs.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE ENVIRONMENT, MINERALS COUNCIL OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, INTERNATIONAL ENERGY AGENCY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED

Majority of Australians (61%) against sending ground troops to Iraq & Syria

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 27-Nov-15

A special snap SMS Morgan Poll has found that 61 per cent of Australians disapprove of Australia sending ground combat troops to fight the Islamic State in Iraq and Syria, while 39 per cent approve. The poll, which was carried out on 26-27 November 2015, also shows that a majority of supporters of all political parties are against Australia sending ground troops to Iraq and Syria. The findings contrast with a Morgan Gallup Poll conducted in May 1965, near the beginning of the Vietnam War, which showed that 52 per cent of Australian electors were in favour of the decision to send 800 Australian troops to South Vietnam, while 37 per cent were opposed.

CORPORATES
ROY MORGAN RESEARCH LIMITED

PM eyes carbon target lift

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Original article by Sid Maher, Graham Lloyd
The Australian – Page: 1 & 4 : 30-Nov-15

The Australian Government has ruled out using the United Nations summit on climate change in Paris to change its policy on reducing carbon emissions by 26-28 per cent by 2030. However, Prime Minister Malcolm Turnbull has given indications that this target could be increased when it is reviewed in 2017, although he has described the current target as "reasonable" and "achievable". Australia has also committed to investing $A200m annually over five years to a Green Clim­ate Fund, which Turnbull says is appropriate given the size of its economy.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED NATIONS, AUSTRALIAN LABOR PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, MICROSOFT CORPORATION, CANADA. OFFICE OF THE PRIME MINISTER, FRANCE. MINISTRY OF FOREIGN AFFAIRS, COMMONWEALTH HEADS OF GOVERNMENT MEETING