Immigration and ideology add fuel to housing crisis

Original article by Judith Sloan
The Australian – Page: 11 : 18-Sep-24

The federal government’s target of 1.2 million new homes in five years will not be met. Although Canberra has some levers it can pull to boost housing stock, most of the control rests with state and local governments. In addition, the construction of new homes is almost completely reliant on the private sector. Meanwhile, the federal government has been contributing to the housing crisis by ramping up the migrant intake. All levels of government are also obsessed with the ideology of greater housing density, despite the fact that many people do not want to live in high-rise apartment buildings.

CORPORATES

ANZ-Roy Morgan Inflation Expectations drop to 4.8% in mid-September – down from 5.0% for the month of August

Original article by Roy Morgan
Market Research Update – Page: Online : 18-Sep-24

The latest weekly ANZ-Roy Morgan Inflation Expectations are 4.8% for the week of September 9-15. This figure is below the average so far this year of 5.0%, and down 0.2% points from the month of August. A look at monthly Inflation Expectations for August shows the measure at 5.0% for the month – down 0.1% points from a month earlier and in line with the average so far this year of 5.0%. Looking back over the first eight months of the year, weekly Inflation Expectations have moved in a narrow band of 4.6% to 5.3% and averaged 5.0%. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source, which has interviewed an average of around 5,200 Australians aged 14+ per month over the last decade, and includes interviews with 5,974 Australians aged 14+ in August 2024.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

ANZ-Roy Morgan Consumer Confidence up 1.8pts to 84.1 in mid-September

Original article by Roy Morgan
Market Research Update – Page: Online : 18-Sep-24

ANZ-Roy Morgan Consumer Confidence rose 1.8pts to 84.1 in the week to 15 September; despite the increase, Consumer Confidence has spent a record 85 straight weeks below the mark of 85. Consumer Confidence is now 4.3 points above the same week a year ago (76.4), and 2.1pts above the 2024 weekly average of 82.0. Consumer Confidence is up in Victoria and Western Australia, but down slightly in NSW, Queensland and South Australia. Now 22% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 48% (up 1ppt) say their families are ‘worse off’. Looking forward, 33% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 30% (down 2ppts) expect to be ‘worse off’. Now 9% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 32% (down 2ppts) expect ‘bad times’. Now 23% (up 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 48% (unchanged) say now is a ‘bad time to buy’.

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

CFMEU scandal once in a generation chance

Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 18-Sep-24

The federal government will reconvene its National Construction Industry Forum in October. Amongst other things, members of the forum will be asked to consider measures aimed at addressing corruption and misconduct in the building and construction industry. Workplace Relations Minister Murray Watt says a "major reset" is needed in the nation’s construction industry, and the scandal that has embroiled the CFMEU is a "once-in-a-generation" opportunity to do so. Meanwhile, the CFMEU’s administrator Mark Irving will use his coercive powers to direct Geoffrey Watson SC to continue with his investigation into corruption within the union’s Victorian branch.

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, NATIONAL CONSTRUCTION INDUSTRY FORUM, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS

No retreat on IR laws: Albanese

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-Sep-24

Industrial relations is set to be a key federal election issue, after Prime Minister Anthony Albanese indicated on Tuesday that Labor will not back down on the reforms it has implemented. The Coalition in turn has committed to repealing key aspects of the reforms, including multiple-employer bargaining. Meanwhile, Albanese has told the Business Council of Australia’s annual dinner that his government is "proudly pro-business and pro-worker". Albanese used his speech to highlight Labor policies and initiatives that have helped the business sector. However, BCA CEO Bran Black and president Geoff Culbert both criticised Labor’s workplace reforms in their speeches at the event.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Kelty blasts Labor failure on economy

Original article by Jennifer Hewett
The Australian Financial Review – Page: 1 & 2 : 17-Sep-24

Former ACTU secretary Bill Kelty says that while the federal government has delivered some good policies in its first term of office, it lacks any plan to revive Australia’s moribund economy. Some of the areas that Kelty suggests that the government needs to take action to stimulate the economy include a revision of bank lending rules and a major shake-up of the tax system. Kelty recently told a meeting of Melbourne business leaders that Paul Keating was correct when he said the government needs a greater dose of imagination, while he has also proposed a new model of enterprise bargaining that includes guaranteed jobs in every industry in which there is a shortage.

CORPORATES
ACTU

No policy and extreme right views will cost Dutton: Labor

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 17-Sep-24

Labor MPs are hopeful that the Coalition’s lack of policies will see voters look more favourably upon the federal government in the lead-up to the next election. With opinion polls continuing to suggest the election result will be very tight, and the possibility of a Coalition minority government not being ruled out, Tim Ayres, who is an assistant minister in the federal government, claims voters will be reluctant to vote for the Coalition because of what he claims are the extreme views of Opposition leader Peter Dutton.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

Federal voting intention virtually unchanged this week with ALP (50.5%) marginally ahead of the Coalition (49.5%); but Greens lost support after violent protests

Original article by Roy Morgan
Market Research Update – Page: Online : 17-Sep-24

The latest Roy Morgan survey shows that if a Federal Election were held now the result would be ‘too close to call’, with the ALP on 50.5% (down 0.5%) just ahead of the Coalition on 49.5% (up 0.5%) on a two-party preferred basis. There was a slight movement to the Coalition on a two-party preferred result this week; however, either the ALP or Coalition would require the support of minor parties and independents to form a minority government. The result again shows the importance of preference flows to determine the overall two-party preferred result. The primary vote of both major parties was up this week – mainly at the expense of the Greens. The ALP’s primary vote increased 0.5% to 30.5% while Coalition support increased 1% to 37.5%. Support for the Greens dropped 2% to 12.5%, while One Nation was down 0.5% at 5.5%. Support for Other Parties increased 0.5% to 4%, and support for Independents was up 0.5% to 10%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

‘Cover up’: Review’s explosive findings on Andrews’ crash with cyclist

Original article by Michael Warner
Herald Sun – Page: Online : 17-Sep-24

Former Victorian premier Daniel Andrews is under renewed scrutiny over a collision between his family’s car and a young cyclist in 2013. An expert review of the incident by Dr Raymond Shuey has been released; he was state’s former Assistant Commissioner for Traffic and Operations. The report has concluded that Andrews’ vehicle had been "travelling at speed" and on the wrong side of the road when the collision occured. Shuey also found that the Victoria Police investigation that supported Andrews’ version of the incident was "deeply flawed" and "contrary to the available evidence", while he contends that the police had engaged in an "overt cover-up" to protect Andrews, who was Opposition leader at the time.

CORPORATES
VICTORIA POLICE

Whistleblower’s fresh claims on CFMEU’s missing $30m

Original article by Simon Benson
The Australian – Page: 5 : 17-Sep-24

Prime Minister Anthony Albanese is continuing to attract scrutiny over revelations that a CFMEU whistleblower had warned him in 2014 that the union had links to organised crime. Shadow employment minister Michaelia Cash has urged Albanese to disclose what action he had taken in response to the claims made by former CFMEU official Andrew Quirk a decade ago. Cash adds that Albanese should explain why Labor continued to accept donations from the CFMEU despite being aware of its criminal connections. It has also emerged that Quirk and a fellow whistleblower had raised concerns about the whereabouts of $30m from the sale of the CFMEU’s headquarters in NSW.

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY