Australia lags in competitive rankings

Original article by Ben Potter
The Australian Financial Review – Page: 10 : 1-Oct-15

Australia is ranked 21st in the World Economic Forum’s 2015-16 Global Competitiveness report, compared with 22nd position previously. However, the nation is ranked 26th in terms of innovation and 36th for labour market flexibility. Australian Industry Group CEO Innes Willox says the report demonstrates the need for government policy to focus on areas such as innovation, workplace relations and taxation. Switzerland and Singapore are the two most competitive nations, according to the report.

CORPORATES
WORLD ECONOMIC FORUM, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSL LIMITED – ASX CSL

Morrison: GST hike could ease worker tax burden

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 5 : 30-Sep-15

Treasurer Scott Morrison has indicated that the Australian Government will ensure that there is no overall increase in the tax burden. He has told Sky News that income tax cuts would be implemented to offset any increase in other taxes, such as the GST. The corporate tax rate and superannuation tax breaks are also likely to be on the agenda when Prime Minister Malcolm Turnbull and key government ministers meet with business, union and community organisation leaders on 1 October 2015.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, SKY NEWS, BUSINESS COUNCIL OF AUSTRALIA, ACTU, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, COUNCIL ON THE AGEING, THE AUSTRALIAN INDUSTRY GROUP, KPMG AUSTRALIA PTY LTD, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY

Tasmanian MP joins call to rein in penalty rates

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 30-Sep-15

Federal MP Andrew Nikolic says the Australian Government must engage in debate about the need for changes to the penalty rates regime. Nikolic notes that penalty rates is a politically sensitive issue, but argues that the current system is a disincentive for tourism and hospitality businesses in his Tasmanian seat of Bass to trade on weekends and public holidays. A number of his Coalition colleagues have also called for the issue to be reviewed.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, PIERRE’S CAFE, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

PM calls back reform summit

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 29-Sep-15

Prime Minister Malcolm Turnbull has organised a summit with key representations of the business and community sectors to discuss economic reforms. The summit will be held on 1 October 2015, and will include Australian Industry Group CEO Innes Willox, ACTU secretary Dave Oliver, Business Council of Australia Jennifer Westacott and Australian Council for Social Services CEO Cassandra Goldie. Issues such as superannuation tax breaks are likely to be on the agenda.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, THE AUSTRALIAN INDUSTRY GROUP, ACTU, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN COUNCIL FOR WOMEN, COUNCIL ON THE AGEING, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN YOUTH AFFAIRS COALITION INCORPORATED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, SYDNEY INSTITUTE

Coalition looks to insurance rebate tweak

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 29-Sep-15

The Australian Government may consider changes to the private health insurance rebate. Health Minister Sussan Ley says feedback from consumers shows that the introduction of means-testing for the rebate has resulted in higher out-of-pocket costs and forced some consumers to downgrade their insurance coverage. Income-based means-testing for the 30 per cent rebate was introduced by the former Australian Labor Party government.

CORPORATES
AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA

Frydenberg makes fresh pitch for IR reform

Original article by Primrose Riordan
The Australian Financial Review – Page: 5 : 28-Sep-15

Australia’s Resources Minister Josh Frydenberg has weighed into the debate on industrial relations reform, arguing that weekend penalty rates cost jobs. He notes that the penalty rates system results in significantly increased costs in the resources sector. Frydenberg has also called for the reinstatement of the Australian Building & Construction Commission.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. PRODUCTIVITY COMMISSION, ACTU, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY

TPP deal is imminent, says Robb

Original article by John Kehoe, Joanna Mather
The Australian Financial Review – Page: 4 : 28-Sep-15

Australia’s Trade Minister Andrew Robb is confident that an agreement on the Trans-Pacific Partnership will be secured shortly. Negotiations on the trade agreement will resume in the US on 30 September 2015, after talks stalled in July. Robb is hopeful that a number of outstanding issues concerning the trade deal can be resolved. Some 12 nations will join the TPP if a final agrement is reached.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, NATIONAL PARTY OF AUSTRALIA, THE BROOKINGS INSTITUTION, DEMOCRATIC PARTY (UNITED STATES)

Workplace reform ‘must be a priority’

Original article by Andrew White, Kylar Loussikian
The Australian – Page: 4 : 25-Sep-15

Washington H Soul Pattinson’s executive chairman Robert Millner has urged the Australian Government to pursue workplace reforms. He has identified the penalty rates system and high labour costs in the manufacturing sector as key issues that need to be addressed. Millner has also criticised the number of rostered days off in sectors such as manufacturing, as well the high level of leave entitlements for construction workers.

CORPORATES
WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BRICKWORKS LIMITED – ASX BKW, NEW HOPE CORPORATION LIMITED – ASX NHC, LIBERAL-NATIONAL PARTY OF QUEENSLAND, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

7-Eleven franchisees chose own pay rates

Original article by Adele Ferguson, Sarah Danckert, Mikaela Day
The Australian Financial Review – Page: 23 : 25-Sep-15

Key executives of 7-Eleven Stores appeared before a Senate hearing on 24 September 2015. CEO Warren Wilmot revealed that until a few years ago franchisees had been able to pay staff what they deemed appropriate without reference to the minimum wage. He stressed that this system is no longer in place. Meanwhile, 7-Eleven executive Natalie Dalbo said there has been a 16 per cent increase in the wages paid to employees of 536 stores that use the group’s centralised payroll system since a media expose on the wage scandal.

CORPORATES
7-ELEVEN STORES PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN

Shorten may reappear at commission

Original article by Ewin Hannan
The Australian Financial Review – Page: 6 : 25-Sep-15

The activities of the Australian Workers’ Union will come under further scrutiny by the Royal Commission into Trade Union Governance & Corruption. Royal commissioner Dyson Heydon has indicated that Federal Opposition Leader Bill Shorten – a former national secretary of the AWU – will not be required to appear before the inquiry again at this stage, but he has not ruled out asking Shorten to do so if this is deemed necessary.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN LABOR PARTY, HEALTH SERVICES UNION OF AUSTRALIA, ACTU, THIESS JOHN HOLLAND, ACI GLASS PACKAGING, DOWNER EDI LIMITED – ASX DOW, UNIBUILT, CLEANEVENT, WINSLOW CONSTRUCTORS PTY LTD, CHIQUITA MUSHROOMS PTY LTD, AUSTRALIAN BROADCASTING CORPORATION, LIBERAL PARTY OF AUSTRALIA