O75 Public Administration

RBA cuts economy’s speed limit

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 10 : 23-Jul-15

The Australian economy’s trend growth rate has traditionally been regarded as being within the range of three to 3.25 per cent. However, GDP growth has been below the trend rate for 11 consecutive quarters, and it has been above the trend rate just three times during the last 27 quarters. Reserve Bank governor Glenn Stevens has suggested that the lower economic growth of recent years may in fact represent the nation’s new trend growth rate. This would have significant implications for government revenue, unemployment and the cost of living.

CORPORATES
RESERVE BANK OF AUSTRALIA, JP MORGAN AUSTRALIA LIMITED

Fight builds over $3b GST compo

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 22-Jul-15

The New South Wales Government has proposed lifting the GST rate to 15 per cent, with the extra revenue to be used to finance public health services. Its modelling suggests that annual GST revenue would increase by $A36bn by 2020 with the higher tax rate. Meanwhile, the cost of public health funding is expected to top $A20bn by 2020. When the need to compensate households for the increased GST is taken into account, it is estimated that a further $A2bn to $A3bn in health funding would be needed in addition to the extra GST revenue.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, QUEENSLAND. TREASURY, LIBERAL PARTY OF SOUTH AUSTRALIA, AUSTRALIAN LABOR PARTY

Echo wins bid to build Brisbane casino

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Original article by Mark Ludlow, Perry Williams
The Australian Financial Review – Page: 7 : 21-Jul-15

The Queensland Government has chosen a consortium headed by Echo Entertainment Group to build Brisbane’s second casino. The Destination Brisbane consortium, which also includes Chow Tai Fook and Far East Consortium, competed with Crown Resorts for the right to build the new gaming venue at Queen’s Wharf. It will be located next to Echo’s Treasury Casino. Echo plans to relocate its head office from Sydney to Brisbane.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, DESTINATION BRISBANE PTY LTD, CHOW TAI FOOK ENTERPRISES LIMITED, FAR EAST CONSORTIUM INTERNATIONAL LIMITED, CROWN RESORTS LIMITED – ASX CWN, GREENLAND HOLDING GROUP COMPANY LIMITED, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, QUEENSLAND. DEPT OF STATE DEVELOPMENT, TRADE AND INNOVATION, TREASURY CASINO AND HOTEL, THE STAR, DEUTSCHE BANK AG, CREDIT SUISSE (AUSTRALIA) LIMITED

Labor splits over GST increase

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 21-Jul-15

It is estimated that lifting the GST rate from 10 per cent to 15 per cent would increase annual revenue by about $A30bn. South Australian Premier Jay Weatherill and Australian Capital Territory Chief Minister Andrew Barr have indicated that they would consider the reform, with the latter saying his support would be conditional on the payment of sufficient compensation. Victoria and Queensland are the only Australian Labor Party-led state governments that remain firmly opposed to increasing the GST.

CORPORATES
SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN CAPITAL TERRITORY. DEPT OF THE CHIEF MINISTER, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, TASMANIA. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, LIBERAL PARTY OF NEW SOUTH WALES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN GREENS

Support for Labour/Greens coalition overtakes National for first time since New Zealand Election

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 17-Jul-15

A New Zealand Roy Morgan Poll on voting intention, which was carried out in July 2015, shows that support for the ruling National Party has fallen by 6.5 per cent to 43 per cent since May. Support for the Labour Party has risen by six per cent to 32 per cent, and is now at its highest level since March 2014. Likewise, support for a potential Labour/Greens alliance has risen by six per cent to 45 per cent, which is its highest level since May 2014. Roy Morgan Research executive chairman Gary Morgan notes that the Roy Morgan Government Confidence Rating has fallen by 17.5 points to 118 in July, while New Zealand’s GDP growth slowed to just 0.2 per cent in the March quarter, which is its slowest rate of growth for two years.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, NATIONAL PARTY OF NEW ZEALAND, LABOUR PARTY (NEW ZEALAND), GREEN PARTY OF AOTEAROA NEW ZEALAND, CONSERVATIVE PARTY OF NEW ZEALAND, THE MAORI PARTY, UNITED FUTURE PARTY (NEW ZEALAND), NEW ZEALAND FIRST PARTY, ACT NEW ZEALAND, INTERNET PARTY, MANA PARTY

Hockey bid for election tax cuts

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 20-Jul-15

Treasurer Joe Hockey has signalled that tax reform will be on the agenda for the federal election in 2016. He says the current income tax regime discourages people from earning additional money, with so-called bracket creep likely to push people on the average income onto the second-highest tax rate. Hockey has also urged state governments to support GST reform, although former treasurer Peter Costello says the government is unlikely to gain the support of all states.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY

Union threat to China free trade deal

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 17-Jul-15

The free-trade agreement with China will be a key issue at the Australian Labor Party’s National Conference in July 2015. A group of unions will lobby the Opposition to pursue changes to the trade deal when the bill is debated in parliament, while shadow trade minister Penny Wong has expressed concern that the trade deal does not protect Australian jobs. Independent Senator Nick Xenophon also has reservations about some aspects of the deal with regard to imported labour.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN MANUFACTURING WORKERS’ UNION, TRANSPORT WORKERS’ UNION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, TEXTILE, CLOTHING AND FOOTWEAR ASSOCIATION OF QUEENSLAND, MARITIME UNION OF AUSTRALIA

Hockey tells states to lift GST income

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

The upcoming state and federal leaders’ summit will present an opportunity to pursue intergovernmental reform, according to Treasurer Joe Hockey. He will use a speech on 15 July 2015 to argue for changes to the GST and the transfer of full responsibility for schools and hospitals to the states. Hockey will also call for measures such as the abolition of inefficient state taxes and a reduction in the corporate tax and capital gains tax rates.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF NEW SOUTH WALES, AUSTRALIAN LABOR PARTY

Payments linked to union

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Original article by Ewin Hannan
The Australian Financial Review – Page: 4 : 14-Jul-15

The Royal Commission into Trade Union Corruption & Governance has heard allegations of bribery involving the Construction, Forestry, Mining & Energy Union (CFMEU). A Canberra-based contractor claims that he made cash payments in excess of $A135,000 to a former union organiser, Halafihi Kivalu, in return for securing work on a residential project. He was told that the CFMEU would shut down the site if he failed to make further payments. A second contractor has also claimed to have made cash payments to Kivalu.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, CLASS 1 FORM PTY LTD

ALP support crumbles as Opposition Leader Bill Shorten fronts Royal Commission into Unions

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 13-Jul-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 has risen by 2.5 per cent to 49 per cent. The poll, which was carried out on the weekends of 4-5 and 11-12 July 2015, also shows that the Coalition’s primary vote has risen by 2.5 per cent to 41.5 per cent, while the Roy Morgan Government Confidence Rating has fallen by eight points to 90.5 points. Roy Morgan Research executive chairman Gary Morgan notes that support for the Australian Labor Party has fallen after Opposition Leader Bill Shorten fronted the Royal Commission into Trade Union Governance & Corruption to answer questions about his conduct while at the Australian Workers Union immediately before his election to Federal Parliament in 2007.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, CLEANEVENT PTY LTD, INSTITUTE FOR PRIVATE ENTERPRISE