O75 Public Administration

Ex-UBS head Fraser to run Treasury

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Original article by Joe Aston, Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 6-Oct-14

The Australian Government is expected to appoint John Fraser to succeed Martin Parkinson as secretary of the Department of the Treasury. Fraser retired as CEO of UBS’s asset management division in 2013, and his previous roles have included a stint as deputy secretary of the Treasury. Bank of America Merrill Lynch’s Saul Eslake has welcomed the likely appointment of Fraser, but notes the poor treatment of Parkinson by the Coalition Government

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, UBS AG, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, MONASH UNIVERSITY, AUSTRALIAN LABOR PARTY, SWISS BANK CORPORATION, GROUP OF TWENTY (G-20), TD SECURITIES, RESERVE BANK OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA

PM Tony Abbott (44%) now leads Opposition Leader Bill Shorten (37%) as ‘Better PM’ but neither Leader has positive job approval

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 3-Oct-14

A special telephone Morgan Poll has found that 44 per cent of Australian electors now rate Prime Minister Tony Abbott as the "Better PM", compared with 37 per cent for Opposition Leader Bill Shorten. The poll, which was carried out from 30 September-2 October 2014, also shows that the number of electors who approve of his handling of his job has risen by 10 per cent to 44 per cent. Roy Morgan Research executive chairman Gary Morgan notes that 51 per cent of men approve of Abbott’s handling of the job of PM, while 51 per cent of women disapprove

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

More tax not ruled out by Cormann

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Original article by Joanna Heath
The Australian Financial Review – Page: 7 : 6-Oct-14

Finance Minister Mathias Cormann says the Australian Government remains committed to returning the Budget to surplus. Cormann has conceded that increasing taxes is one option in the December 2014 Budget update, as the Government seeks to finance the additional expenditure that has been made since the Budget was released in May. Cormann adds that the forward Budget estimates will include cost-saving measures that have been blocked by the Senate

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY, SKY NEWS, AUSTRALIAN NEWS CHANNEL PTY LTD, AUSTRALIAN LABOR PARTY

Doctors warn treatment of children could trigger royal commission

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Original article by Sarah Whyte
The Age – Page: 6 : 6-Oct-14

A new study published in "The Medical Journal of Australia" covers the views of local paediatricians on the mandatory detention for children of asylum-seekers. Some four fifths of those surveyed believe that the treatment of the minors will trigger a future royal commission into child abuse. Another finding is that 33% of the 139 practitioners have relied on professional interpreter services when dealing with the refugee children

CORPORATES
AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, SAVE THE CHILDREN AUSTRALIA

Hockey seeks foreign funds for assets

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Original article by David Crowe
The Australian – Page: 15 : 6-Oct-14

Staff at US investment banks Bank of America Merrill Lynch, Citigroup, Morgan Stanley and JP Morgan Chase & Company will on 6 and 7 October 2014 hear from Australian Treasurer Joe Hockey. He is keen to attract major investors from the US for planned privatisation moves by state governments. The Federal Government is encouraging them to sell assets so that the funds can be reallocated to new infrastructure. Hockey will also meet with News Corporation executive chair Rupert Murdoch and Federal Reserve Bank of New York president William Dudley

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NEWS CORPORATION – ASX NWS, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, CITIGROUP INCORPORATED, MORGAN STANLEY AND COMPANY INCORPORATED, JP MORGAN CHASE AND COMPANY, POWERLINK PTY LTD, ENERGEX LIMITED, ERGON ENERGY CORPORATION LIMITED, IFM INVESTORS PTY LTD, HASTINGS FUNDS MANAGEMENT LIMITED, CHINA MERCHANTS GROUP, TAWREED INVESTMENTS LIMITED, GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND, FEDERAL RESERVE BANK OF NEW YORK

Rival hits at Medibank for no share giveaway

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Original article by Jessica Gardner
The Australian Financial Review – Page: 5 : 3-Oct-14

Westfund COO Phillip Berner believes that Medibank Private customers’ loyalty should have been rewarded in the health fund’s IPO. Medibank policyholders who pre-register for the IPO may receive a priority allocation of shares, but Berner says they should have been given free shares or some other form of compensation. He adds that some Medibank customers who are unhappy with their treatment in the privatisation may opt to switch funds

CORPORATES
MEDIBANK PRIVATE LIMITED, WESTFUND HEALTH INSURANCE, ROY MORGAN RESEARCH LIMITED, QR NATIONAL LIMITED

Leave capital levels alone ANZ chief tells Murray

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Original article by James Eyers
The Australian Financial Review – Page: 13 & 18 : 3-Oct-14

The final report of the inquiry into Australia’s financial system is widely tipped to include recommendations on changes to capital requirements in the banking sector. ANZ Bank CEO Mike Smith argues that the inquiry should not outline any specific capital levels, noting that the Australian Prudential Regulation Authority can already direct banks to hold a certain level of capital. Smith has also downplayed concerns about banks’ high exposure to mortgage loans

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, MORGAN STANLEY AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, FINANCIAL STABILITY BOARD

Nahan’s GST plan aims to net billions

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Original article by Shane Wright, Andrew Probyn
The West Australian – Page: 9 : 2-Oct-14

Western Australian (WA) Treasurer Mike Nahan has revealed a plan to change the allocation of goods and services tax (GST) among the states. On 1 October 2014, Nahan told Federal MPs that WA will only get $A0.37 of every dollar of GST raised in the state. Nahan has proposed a change in the treatment of iron ore royalties by the Commonwealth Grants Commission. Nahan admitted that the fall in iron ore prices would cut between $A1.5 billion and $A2 billion from the state’s budget

CORPORATES
WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, AUSTRALIA. DEPT OF THE TREASURY

Budget takes $10b welfare hit

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 2-Oct-14

Prime Minister Tony Abbott says the Australian Government still aims to roll out cuts to welfare spending worth $A10bn. This is despite the Budget measures having been abandoned in a compromise deal struck with the Opposition. The Australian Labor Party will now vote for a bill that contains $A2.7bn worth of cuts, after negotiations were fruitful on 1 October 2014. Treasurer Joe Hockey and Finance Minister Mathias Cormann will also continue to hold talks with independent and minor party senators on getting more bills passed

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

ALP in ‘Box Seat’ for Victorian State Election. Coalition still ahead in NSW & Queensland

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 1-Oct-14

A special SMS Morgan Poll on State voting intention has found that Dennis Napthine has a narrow lead as preferred Premier of Victoria, but the Australian Labor Party (54 per cent) leads the Coalition on a two-party preferred basis. In New South Wales, Premier Mike Baird has a 41 per cent lead over Opposition Leader John Robertson, while the Coalition has 53 per cent support on a two-party preferred basis. Roy Morgan Research executive chairman Gary Morgan says the Victorian Government must provide policies to tackle the state’s high level of unemployment and underemployment

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF VICTORIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF PREMIER AND CABINET, LIBERAL PARTY OF NEW SOUTH WALES, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, LIBERAL-NATIONAL PARTY OF QUEENSLAND, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF WESTERN AUSTRALIA, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF SOUTH AUSTRALIA, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, LIBERAL PARTY OF TASMANIA, TASMANIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN GREENS, PALMER UNITED PARTY, CHRISTIAN DEMOCRATIC PARTY, COUNTRY ALLIANCE, KATTER’S AUSTRALIAN PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED