O75 Public Administration

Coal royalties plunge $3b in Queensland

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 25-Jun-15

Queensland Treasurer Curtis Pitt says the State Government will achieve an operating surplus in the next four years. However, the July 2015 Budget will include a $A2.988bn write-down of mining royalties over four years, due primarily to the slump in global coal prices. Pitt notes that state revenue will be bolstered by Queensland’s booming residential property market, and says the first-home owners grant will be retained in 2015-16.

CORPORATES
QUEENSLAND. TREASURY, AUSTRALIAN LABOR PARTY, STOCKLAND – ASX SGP, PROPERTY COUNCIL OF AUSTRALIA LIMITED

Federal tax reform labelled a ploy to force GST increase

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Original article by Phillip Coorey, Geoff Winestock
The Australian Financial Review – Page: 6 : 25-Jun-15

The Australian Chamber of Commerce & Industry supports a proposal to permit the states to introduce income taxes and set their own tax rates. It is one of the proposed measures outlined in a green paper on federation reform. The paper also proposes shifting responsibility for funding of schools and hospitals to the states. Victorian Premier Tim Pallas argues that this measure is aimed at persuading the states to support an increase in the scope or rate of the GST.

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

National Government support down to 49.5% as New Zealand growth slows to 0.2% in March Quarter – slowest in two years

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 24-Jun-15

A New Zealand Roy Morgan Poll on voting intention, which was carried out in June 2015, shows that support for the ruling National Party has fallen by 4.5 per cent to 49.5 per cent since May. Support for the Labour Party has risen by 0.5 per cent to 26 per cent, and support for a potential Labour/Greens alliance has increased by three per cent to 39 per cent. Roy Morgan Research executive chairman Gary Morgan says the National Party lost support in June following New Zealand’s slowest GDP growth (0.2%) in two years during the March quarter. He notes that the ANZ-Roy Morgan New Zealand Consumer Confidence Rating has fallen for the last two months, to 119.9 in June. However, New Zealand Government Confidence was at 135.5 in June, with 62.5 per cent of New Zealand electors saying the nation is "heading in the right direction".

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

Greens push for probe into finance scandals

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Original article by Adele Ferguson
The Australian Financial Review – Page: 16 : 24-Jun-15

The Federal Government and the Opposition will not support the Australian Greens’ motion for a royal commission into misconduct in the financial services industry. Liberal Democratic Party senator David Leyonhjelm and Family First Party senator Bob Day also oppose a royal commission, although independent senator Nick Xenophon and the National Party’s John Williams will support the motion. IOOF is the latest financial group to embroiled by claims of misconduct.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, LIBERAL DEMOCRATIC PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, NATIONAL PARTY OF AUSTRALIA, IOOF HOLDINGS LIMITED – ASX IFL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

CGT discount too generous: Tony Shepherd

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Original article by Joanna Mather
The Australian Financial Review – Page: 5 : 23-Jun-15

Australian business leader Tony Shepherd says the capital gains tax (CGT) rate should be increased to the same level as the income tax rate. He has also advocated changes to the CGT discount of 50 per cent and increasing both the rate and scope of the goods and services tax.

CORPORATES
COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIA. NATIONAL COMMISSION OF AUDIT

‘More holistic’ leadership will save billions

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 22-Jun-15

Research by consulting firm Agilience has found that the total cost blowout of 44 large infrastructure projects in Australia was around $A6bn. WestConnex Delivery Authority chairman Tony Shepherd says the research demonstrates that more efficient management of large-scale infrastructure projects can result in significant cost savings. He has called for a more holistic approach to leadership of such projects.

CORPORATES
AGILIENCE, NEW SOUTH WALES. WESTCONNEX DELIVERY AUTHORITY, AUSTRALIAN CONSTRUCTORS ASSOCIATION LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BOUYGUES SA, LEND LEASE GROUP LIMITED – ASX LLC, URBANGROWTH NSW

Legal aid cuts risk injustices: UK judge

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Original article by Katie Walsh
The Australian Financial Review – Page: 33 : 19-Jun-15

Justice Nicholas Mostyn of the High Court of England & Wales has expressed concern about reduced government funding for legal aid in Australia and the UK. He says the funding cuts will threaten both the rule of law and the principle of equality before the law. Meanwhile, the Productivity Commission has urged governments at state and federal level to boost legal aid funding by $A200m.

CORPORATES
HIGH COURT OF ENGLAND AND WALES, AUSTRALIA. PRODUCTIVITY COMMISSION, LAW COUNCIL OF AUSTRALIA, NATIONAL PRO BONO RESOURCE CENTRE, THE LAW SOCIETY OF NEW SOUTH WALES, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, FAMILY COURT OF AUSTRALIA, PRICEWATERHOUSECOOPERS, NATIONAL LEGAL AID

Drivers to pay through nozzle in Greens deal

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Original article by Phillip Coorey
The Australian Financial Review – Page: 9 : 18-Jun-15

The Australian Greens are using their new relationship with the Federal Government to push for an increase in the petrol excise, arguing that the additional revenue can augment spending on public transport. Fresh from siding with the Government over cuts to pensions for wealthier retirees, Greens leader Richard Di Natale said negotiations on reintroducing indexation of the excise tax are underway. However, he said there will be no changes to taxes on superannuation in the life of the current government.

CORPORATES
AUSTRALIAN GREENS. AUSTRALIAN LABOR PARTY. AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET. LIBERAL PARTY OF AUSTRALIA. AUSTRALIAN TAXATION OFFICE

BP joins calls to raise GST in line with OECD

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Original article by Peter Ker
The Australian Financial Review – Page: 20 : 17-Jun-15

BP Australia COO Andy Holmes notes that the average GST rate among OECD countries is 18 per cent. He argues that Australia should lift its GST rate from 10 per cent to 15 per cent, and broaden the scope of the consumption tax. BP’s submission on the Federal Government’s tax white paper also calls for changes to the stamp duty regime and the petroleum resource rent tax. Rio Tinto also favours stamp duty reform, arguing that it deters investment in Australia.

CORPORATES
BP AUSTRALIA LIMITED, BP PLC, RIO TINTO LIMITED – ASX RIO, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, PROPERTY COUNCIL OF AUSTRALIA LIMITED

Feeling unsafe joins economic fears: poll

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Original article by Greg Earl
The Australian Financial Review – Page: 4 : 16-Jun-15

The Lowy Institute for International Policy has released the findings of an opinion poll on issues such as national security and the Australian economy. Some 89 per cent of respondents identified Islamic State as the greatest security threat in the next 10 years. Meanwhile, 43 per cent expect solar power to be the nation’s main source of electricity within a decade. The proportion of respondents who are upbeat about the economic outlook has fallen from 86 per cent in 2009-10 to just 63 per cent.

CORPORATES
LOWY INSTITUTE FOR INTERNATIONAL POLICY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET