O75 Public Administration

China deal to deliver benefits faster than other FTAs

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Original article by Greg Earl
The Australian Financial Review – Page: 7 : 12-Jan-15

The Australian Government has revealed that the free trade agreement (FTA) with China will result in tariffs on goods imported from China being abolished within four years. In contrast, the respective FTAs with Japan and South Korea do not abolish tariffs for seven years after the trade deals take effect. The Government believes that reducing tariffs on Chinese goods more quickly will benefit Australia, as it will in turn increase local manufacturers’ and service providers’ access to the Chinese market

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

Old power stations drive blackout risk

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Original article by Mark Ludlow
The Australian Financial Review – Page: 6 : 12-Jan-15

It is estimated that Australia’s National Energy Market has about 9,000 megawatts of electricity that is surplus to demand. However, Industry Minister Ian Macfarlane says the Federal Government does not intend to pay power companies to shut down older power stations, arguing that the issue needs to be addressed by the market. AGL Energy chairman Jeremy Maycock has previously raised concerns that power blackouts may become more frequent as companies are continuing to operate older power stations

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, AGL ENERGY LIMITED – ASX AGL, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIAN ENERGY REGULATOR

ANZ backs exam for financial advisers

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Original article by Joanna Mather, Joyce Moullakis
The Australian Financial Review – Page: 3 : 12-Jan-15

The ANZ Bank’s submission to a Senate inquiry has supported a proposal to subject financial planners to an annual exam of their skills and knowledge. The bank’s submission cites a US Financial Industry Regulatory Authority exam as a model that could be considered in Australia. Centrepoint Alliance and Choice are among the other organisations that support exams for financial planners, although the Financial Planning Association does not

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN CONSUMERS’ ASSOCIATION, CENTREPOINT ALLIANCE LIMITED – ASX CAF, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Change GST before next election, pleads business

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Original article by Joe Kelly
The Australian – Page: 2 : 9-Jan-15

John Osborn of the Australian Chamber of Commerce & Industry says a sweeping review of the tax system is needed, and has urged immediate action. The goods and services tax (GST) has been at the centre of recent debate on tax reform, but Peter Strong of the Council of Small Business of Australia has also called for reforms such as the reintroduction of the loss carry back scheme. The Australia Institute has suggested broadening the GST to include private health insurance and private schools

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, THE AUSTRALIA INSTITUTE LIMITED, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED, ASSOCIATION OF HEADS OF INDEPENDENT SCHOOLS

PM pledges SA jobs in submarine project

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Original article by John Kerin
The Australian Financial Review – Page: 6 : 9-Jan-15

The Australian Government has not yet decided which option it will choose to replace the Collins class submarine fleet. Prime Minster Tony Abbott said on 8 January 2015 that there will be no loss of jobs in Adelaide. The Japanese Government proposed to build the new vessels with the Soryu-class submarine as the basis for the $A20 billion project, and some work to be done in Australia

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, THYSSENKRUPP AUSTRALIA PTY LTD, DCNS SA, BAE SYSTEMS AUSTRALIA LIMITED, FORGACS ENGINEERING PTY LTD

Australian employment at record high in December driven by a record high level of part-time employment

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Jan-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 10.9 per cent in December 2014. The number of people in the workforce now totals a record 12,901,000 (up 266,000 since December 2013), while the number of people who are underemployed has risen by 154,000 in the last 12 months to 1,246,000 (9.7 per cent). The official unemployment rate was 6.2 per cent in November. Roy Morgan Research executive chairman Gary Morgan says the high level of unemployment and underemployment means the Federal Government must look seriously at industrial relations reform

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, RESTAURANT AND CATERING INDUSTRY ASSOCIATION OF AUSTRALIA INCORPORATED

Containers cash scheme canned

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Original article by Aisha Dow
The Age – Page: 11 : 8-Jan-15

The New South Wales Government plans to introduce a deposit-refund scheme for drink bottles and cans. However, Victoria’s Environment Minister Lisa Neville argues that the state has a higher drink container recycling rate than the national average, and a deposit scheme would affect the viability of councils’ kerbside recycling programs

CORPORATES
VICTORIA. DEPT OF ENVIRONMENT AND PRIMARY INDUSTRIES, COUNCIL OF AUSTRALIAN GOVERNMENTS, NEW SOUTH WALES. DEPT OF ENERGY, UTILITIES AND SUSTAINABILITY, TOTAL ENVIRONMENT CENTRE INCORPORATED, AUSTRALIAN FOOD AND GROCERY COUNCIL

‘Back to normal’ as trade deficit widens

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Original article by Vera Sprothen, James Glynn
The Australian – Page: 16 : 7-Jan-15

New figures show that Australia posted its eighth successive monthly trade deficit in November 2014. The trade deficit of $A925m compares with a revised deficit just $A877m for October. Deutsche Bank economist Phil O’Donaghoe says the trade surpluses posted in 2010 and 2011 were an anomaly and the nation has returned to its "normal" trend for the balance of trade to be in deficit

CORPORATES
DEUTSCHE BANK AG, HSBC AUSTRALIA HOLDINGS PTY LTD, BARCLAYS BANK PLC

Job woes threaten surplus effort

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Original article by Andrew Fraser
The Australian – Page: 4 : 7-Jan-15

Queensland’s unemployment rate has fallen from 7.1 per cent in October 2014 to 6.9 per cent, although the jobless rate remains higher than most of the other Australian states. The employment outlook may be a key issue for the 2015 state election, particularly in towns and regions with high jobless rates. Towns that support the mining industry have been hard hit by the downturn in the resources boom, with many "fly-in, fly-out" workers losing their jobs

CORPORATES
QUEENSLAND. TREASURY, QUEENSLAND RESOURCES COUNCIL LIMITED, LIBERAL-NATIONAL PARTY OF QUEENSLAND, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Hospital delay puts system to alert public under scrutiny

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Original article by James Robertson
The Sydney Morning Herald – Page: 7 : 7-Jan-15

New South Wales Health Minister Jillian Skinner and Danny O’Connor, CEO of the Western Sydney Local Health District, have rejected claims of a lack of transparency. While Blacktown Hospital conceded that excessive waiting times were experienced at its emergency department in early January 2015, there has been no official data issued on one patient who allegedly had to wait as long as 40 hours. Paramedics argue that long delays were caused by the hospital’s temporary closing of 60 beds

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WESTERN SYDNEY HEALTH, NEW SOUTH WALES. MINISTRY OF HEALTH, BLACKTOWN HOSPITAL