O75 Public Administration

Stalled spend lifts surplus to $15bn

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Original article by Jack Quail
The Australian – Page: 4 : 1-Oct-24

Treasurer Jim Chalmers has attributed the federal government’s higher-than-forecast budget surplus for 2023-24 to lower spending rather than increased taxes. The final budget outcome for 2023-24 has confirmed a surplus of $15.8bn, which is $9.3bn higher than was forecast in the May budget. Shadow treasurer Angus Taylor claims that Labor is using temporary windfalls to boost the budget bottom line, adding that its two successive surpluses will be followed by a series of deficits. The government achieved significant savings by deferring expenditure in a range of areas in 2023-24; meanwhile, personal income tax revenue was $3.1bn lower than expected at $331.5bn and corporate tax receipts were $1.7bn below expectations at $141.2bn.

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AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA

Hezbollah supporters could evade penalty

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Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 1-Oct-24

Anti-hate symbols legislation that took effect in January make it an offence punishable by up to 12 months in jail to display symbols associated with a banned terror group such as Hezbollah. However, with Opposition Leader Peter Dutton wanting to know why no one had been arrested for carrying the Hezbollah flag at pro-Palestine protests on the weekend, the Australian Federal Police has indicated in a statement that the "mere public display of a prohibited symbol on its own does not meet the threshold of a Commonwealth offence". Deakin University counterterrorism expert Greg Barton said the display of the Hezbollah flag at the protests was the first major test for the laws, while Australia Palestine Advocacy Network president Nasser Mashni claimed the fixation on a few flags at the protests was a convenient distraction from Israel’s "massacre" in Gaza and Lebanon.

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AUSTRALIAN FEDERAL POLICE, DEAKIN UNIVERSITY

ANZ-Roy Morgan Consumer Confidence up 0.8pts to 84.9 to the highest since January 2023 – before the RBA meeting

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Sep-24

ANZ-Roy Morgan Consumer Confidence rose 0.8pts to 84.9 in the week to 22 September; despite the increase, Consumer Confidence has spent a record 86 straight weeks below the mark of 85. Consumer Confidence is now 8.5 points above the same week a year ago (76.4), and 2.8pts above the 2024 weekly average of 82.1. Consumer Confidence was up in New South Wales and South Australia, unchanged in Victoria and Queensland, and down in WA. Now 23% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 48% (unchanged) say their families are ‘worse off’. Looking forward, 34% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (up 1ppt) expect to be ‘worse off’. Now 10% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 31% (down 1ppt) expect ‘bad times’. Meanwhile, 22% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 49% (up 1ppt) say now is a ‘bad time to buy’.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Negative gearing in Labor’s sights as Albanese readies for election battle

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Original article by James Massola, David Crowe
The Age – Page: Online : 25-Sep-24

Several federal government sources have confirmed that Labor is considering potential changes to the negative gearing regime ahead of the upcoming election. One of the government officials has indicated that the Treasury has been asked to undertake modelling on possible reform options. Treasury is not believed to be considering the changes to the negative gearing and capital gains tax regimes that former Labor leader Bill Shorten took to the 2016 and 2019 elections.

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AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Mineral deal to hit China dominance

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 25-Sep-24

Australia and the US are among 14 countries that have agreed to establish a joint funding body for critical minerals projects. Resources Minister Madeleine King says the network will strengthen opportunities to co-finance critical minerals projects in Australia. It will also help to reduce global reliance on China, which accounts for about 70 per cent of critical minerals supply. The US government has also recently agreed to provide grants or extend the loans of Australian-listed critical minerals producers such as South32, Element 25 and American Rare Earths.

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AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, SOUTH32 LIMITED – ASX S32, ELEMENT 25 LIMITED – ASX E25, AMERICAN RARE EARTHS LIMITED – ASX ARR

Gambling lobby pushes Labor to consider age verification to block minors from betting

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Original article by Josh Butler
The Guardian Australia – Page: Online : 25-Sep-24

The federal government recently announced plans to use age verification technology to impose age restrictions on social media. Some critics of the government’s proposed restrictions on gambling advertisement have suggested that similar technology could be used to prevent children from accessing wagering platforms. Meanwhile, the vAlliance for Gambling Reform’s chief advocate Tim Costello has expressed concern that the government will not take sufficient action to crack down on gambling ads.

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ALLIANCE FOR GAMBLING REFORM

Don’t expect rate cut soon: Bullock

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Original article by Michael Read
The Australian Financial Review – Page: 1 & 8 : 25-Sep-24

Reserve Bank of Australia governor Michele Bullock has ruled out an official interest rate cut in the near-term, following the central bank’s decision to leave the cash rate unchanged at 4.35 per cent on Tuesday. Bullock says the RBA remains focused on the underlying inflation rate, rather than the headline rate. Monthly data to be released on Wednesday is expected to show that headline inflation was within the RBA’s target range of 2-3 per cent in August, compared with 3.5 per cent in July. However, Bullock has emphasised that electricity rebates from the federal and state governments contributed to this fall, and headline inflation is likely to rise above the target when the rebates expire next year. Lower petrol prices also put downward pressure on headline inflation in August.

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RESERVE BANK OF AUSTRALIA

Wong urges Australians to flee Lebanon

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 25-Sep-24

It is estimated that between 15,000 and 20,000 Australian citizens are in Lebanon at any given time. The federal government has urged Australians to leave Lebanon while commercial flights are still available, amid fears that the current conflict between Israel and Hezbollah will escalate. Foreign Minister Penny Wong has warned that the government lacks the capacity to evacuate every Australian who is currently in Lebanon, while Prime Minister Anthony Albanese has criticised Australians for continuing to travel to Lebanon in recent months despite growing tensions in the region.

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AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Axed Direction 63 fuels security fears

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Original article by Rhiannon Down, Geoff Chambers
The Australian – Page: 1 & 5 : 18-Sep-24

The federal government’s national security credentials are under renewed scrutiny following revelations that it had revoked a controversial ministerial direction in early 2024. Direction 63 had allowed the government to deport people who were in Australia on bridging visas if they had been charged with a criminal offence or were being investigated by police. It had been in place since 2014, but was widely criticised by lawyers because it allowed people to be deported without having been convicted of a crime. It was replaced by Direction 104 in March; this still provides the immigration minister with discretion to cancel the visas of ­people who have been charged with a crime.

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AUKUS originals to embrace threesome – that’s the pillar talk

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Original article by Ben Packham
The Australian – Page: 1 & 5 : 18-Sep-24

The three founding members of the AUKUS alliance are not expected to expand the nuclear submarines component of the defence pact to include other nations. However, the political leaders of Australia, the US and the UK will indicate on Wednesday that they may be open to inviting South Korea, New Zealand and Canada to participate in the ‘Pillar II’ phase of the defence pact, which will focus on military technology. They have previously flagged the possibility that Japan could be invited to join Pillar II. The leaders’ statement will be issued to mark the third anniversary of the alliance. Prime Minister Anthony Albanese will also discuss progress on AUKUS at the upcoming four-nation Quad leaders’ meeting in the US.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET