O75 Public Administration

China summit to help build two-way silk road

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Original article by Greg Earl
The Australian Financial Review – Page: 8 : 28-Aug-15

China wants to link its "silk road" infrastructure scheme with the Abbott Government’s plans to develop northern Australia. It sees Australia as one end of a maritime link in its ambitious One Belt One Road program to stimulate economic activity in Asia and the Pacific. Cooperation was discussed by Chinese and Australian ministers at a strategic economic dialogue in Canberra.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, CHINA. ECONOMIC PLANNING COMMISSION, CHINA UNION PAY, BANK OF CHINA GROUP, CHINA EASTERN AIRLINES CORPORATION LIMITED

Stakes high as China FTA cut-off looms

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Original article by Lisa Murray
The Australian Financial Review – Page: 9 : 28-Aug-15

Trade Minister Andrew Robb says he and his Chinese counterpart are racing to ratify the free trade agreement (FTA) by December 2015. Robb said he was reassuring Beijing following opposition to the FTA from Australian trade unions and the Australian Labor Party. The starting point is crucial, according to the National Farmers Federation, because the first year of tariff cuts is worth $A300 million to the agriculture industry.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, CHINA. MINISTRY OF COMMERCE. DEPT OF FOREIGN TRADE, NATIONAL FARMERS’ FEDERATION LIMITED, AUSTRALIAN LABOR PARTY, FERGUSON AUSTRALIA PTY LTD

Fight against fossil fuels gains ground

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Original article by Amanda Saunders, Jemima Whyte
The Australian Financial Review – Page: 7 : 28-Aug-15

The City of Melbourne will examine its investment policy with a view to divesting its shares in fossil fuels. Councillor Arron Wood said the council was aiming for zero net emissions by 2020 and it was important to lead by example. Albury City Council has also decided to review its investments following Newcastle’s shock decision to sell its shares in banks which fund miners.

CORPORATES
CITY OF MELBOURNE, NEWCASTLE CITY COUNCIL, ALBURY CITY COUNCIL, MOUNT ALEXANDER SHIRE COUNCIL, WESTPAC BANKING CORPORATION – ASX WBC, CITY OF SYDNEY, CITY OF PERTH, BLUE MOUNTAINS CITY COUNCIL

We can agree, say top leaders

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 : 27-Aug-15

The 30 per cent company tax rate made Australia uncompetitive, Rio Tinto MD Phil Edmands told the National Reform Summit in Sydney. Reserve Bank governor Glenn Stevens said changes to industrial relations also had to be looked at to help boost economic growth and employment. Professor Ross Garnaut suggested an economy-wide carbon price to pay down debt.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, KPMG, RESERVE BANK OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, ACTU, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, RIO TINTO LIMITED – ASX RIO, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GRATTAN INSTITUTE

Council tells big four banks don’t bring coal to Newcastle

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Original article by Amanda Saunders, Ben Potter
The Australian Financial Review – Page: 1 : 27-Aug-15

The Minerals Council of Australia has called the City of Newcastle’s decision to dump its holdings in banks that finance fossil fuel projects a "pointless sham" and urged it to support the local economy. The New South Wales city is home to the world’s biggest coal port. Mining’s direct spend in Newcastle is about $A1.8 billion a year, rising to $A5.9 billion when the greater Hunter region is taken into account. The divestment decision was supported by Australian Labor Party and Australian Greens councillors.

CORPORATES
NEWCASTLE CITY COUNCIL, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NEW SOUTH WALES MINERALS COUNCIL, AUSTRALIAN BANKERS’ ASSOCIATION, RESPONSIBLE INVESTMENT ASSOCIATION AUSTRALASIA, ME BANK

Australians complacent, unprepared for difficult future

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 26-Aug-15

Former Treasury secretary Martin Parkinson has criticised politicians for failing to warn Australians about tough times ahead. The lack of leadership is evident as politics is dominated by slogans. The short-term opportunism and complacency of the political elite make Australia ill prepared for future challenges.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Leaders seek tax, super reform

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 : 26-Aug-15

The National Reform Summit will be held on 26 August 2015 in Sydney. Business, industry, welfare and union leaders will debate all aspects of Australia’s tax system. Reforms are needed to ensure productivity growth, higher workforce participation, fiscal policy to stimulate economic growth, and sustainability of a retirement income system.

CORPORATES
ACTU, KPMG AUSTRALIA PTY LTD, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Hockey to outline tax cuts

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Original article by Phillip Coorey, Misa Han
The Australian Financial Review – Page: 1 : 24-Aug-15

Treasurer Joe Hockey will talk about the benefits of tax cuts in his speech to be delivered to the Tax Institute and Chartered Accountants of Australia & New Zealand in Sydney on 24 August 2015. Hockey will stress the importance of income tax relief in stimulating economic growth. In his view, "tax bracket creep" has negative consequences for the economy and must be combatted.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, TAXATION INSTITUTE OF AUSTRALIA, CHARTERED ACCOUNTANTS AUSTRALIA AND NEW ZEALAND, AUSTRALIAN BUREAU OF STATISTICS

Commission exposes deals unions and bosses want to hide

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Original article by Grace Collier
The Australian – Page: 20 : 22-Aug-15

The Royal Commission into Trade Union Governance & Corruption has revealed that unions and companies act in collusion to extract money from workers. The unions and the Australian Labor Party (ALP) are trying to shut down the commission because they want to protect their financial interests. The Coalition could use the findings of the commission to portray the ALP as the party whose interests are not necessarily aligned with those of workers. Voters would no doubt support a political platform of eradicating business-union deals.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION

51pc top tax rate ‘is fairer’ than GST rise

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 21-Aug-15

State and federal treasurers will discuss fiscal issues at a meeting in Canberra on 21 August 2015. The Victorian Government will propose at the meeting to raise extra funds for public health through an increase in the Medicare levy by two percentage points. The federal Government wants to raise the goods and services tax (GST) rate by five per cent and reduce personal and corporate taxes at the same time. New South Wales and South Australia favour raising the GST rate from 10 per cent to 15 per cent and use the extra revenue on public health.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, VICTORIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA