O75 Public Administration

ANZ-Roy Morgan Consumer Confidence eases 1.1pts to 86.4 in late October – second week in a row above the mark of 85

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-Oct-24

ANZ-Roy Morgan Consumer Confidence fell 1.1pts to 86.4 in the week to 27 October; however, Consumer Confidence has stayed above the mark of 85 for a second consecutive week for the first time since January 2023. Consumer Confidence is now 11.4 points above the same week a year ago (75.0), and 4 points above the 2024 weekly average of 82.4. A look at Consumer Confidence by State shows the measure driven down by falls in New South Wales, Queensland and South Australia, virtually unchanged in Victoria and up in Western Australia. Now 24% of Australians (unchanged) say their families are ‘better off’ financially than this time last year (the equal highest figure for this indicator since November 2022), while 47% (up 2ppts) say their families are ‘worse off’. Looking forward, 34% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (up 2ppts) expect to be ‘worse off’. Now 10% (up 2ppts of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 29% (up 1ppt) expect ‘bad times’. Meanwhile, 23% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 45% (unchanged) say now is a ‘bad time to buy’ (the equal lowest figure for this indicator since October 2022).

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

Israeli parliament votes to ban UNRWA from Israel within 90 days

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Original article by Andrew Roth
The Guardian – Page: Online : 30-Oct-24

The US and British governments have expressed concern after the Israeli parliament voted 92-10 to ban the United Nations Relief & Works Agency from operating in the country. The ban is slated to take effect within 90 days, and will prohibit the UNRWA from conducting any activity or providing any service in Israel, including Gaza and the occupied West Bank. UNRWA’s Commissioner-General Philippe Lazzarini says the vote will set a dangerous precedent, while British Prime Minister Keir Starmer warns that the ban will jeopardise the international humanitarian response in Gaza.

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UNITED NATIONS RELIEF AND WORKS AGENCY FOR PALESTINE REFUGEES IN THE NEAR EAST, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER

US on track to sell us Virginia-class subs

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Original article by Joe Kelly
The Australian – Page: 5 : 23-Oct-24

Democrats congressional representative Joe Courtney has downplayed suggestions that the US government may adopt an alternative model for the AUKUS alliance. Veteran naval analyst Ronald O’Rourke recently proposed a so-called ‘Plan B’, whereby the US would retain ownership of Virginia-class nuclear-powered submarines rather than selling them to Australia. O’Rourke contended that this would allow the federal government to redirect billions of dollars to other defence programs. Courtney says he is not aware of any discussions in Congress regarding the O’Rourke plan, and he contends that the current AUKUS arrangement largely has bipartisan support.

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DEMOCRATIC PARTY (UNITED STATES)

Moronic Andrews reign blasted

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Original article by Alexi Demetriadi
The Australian – Page: 4 : 23-Oct-24

Former federal treasurer Peter Costello addressed the Alliance for Responsible Citizenship conference in Sydney on Tuesday. Costello described the government of former Victorian premier Daniel Andrews as the "most incompetent government in Australia"; amongst other things, he said the state government’s response to the pandemic was "moronic" and accused it of "rank posturing" by involving itself in federal issues such as treaty negotiations and China’s Belt and Road Initiative. Costello, who stepped down as chairman of Nine Entertainment earlier in 2024, also criticised the growth of governments at local, state and federal level.

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ALLIANCE FOR RESPONSIBLE CITIZENSHIP

Queensland election: Widespread distrust of government and political parties defines the election

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Original article by Roy Morgan
Market Research Update – Page: Online : 23-Oct-24

This week’s Queensland election is taking place amidst widespread distrust of government throughout the electorate. Importantly, Net Distrust in government in Queensland has been consistently worse than in the rest of Australia for over three years, according to the latest figures from the Roy Morgan Risk Monitor. Although levels of trust have been relatively stable over the last few years, and even increased since mid-2022 soon after the election of the current Albanese Government, it is vital to also understand the impact of distrust – which only Roy Morgan measures. The changes in distrust have been far more dramatic and have dropped to record lows over the last year, driving Net Distrust down significantly both nationally and in Queensland. Premier Steven Miles has scored more highly than Opposition leader David Crisafulli for both trust (3.8% cf. 1.7%) and for distrust (4.3% cf. 2.2%). Meanwhile, 20% of respondents say they trust the LNP, slightly more than the 18.7% that trust the ALP; only 6.1% trust One Nation and just 5.1% trust the Greens.

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ROY MORGAN LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, ONE NATION PARTY, AUSTRALIAN GREENS

ANZ-Roy Morgan Consumer Confidence jumps 4.1pts to 87.5 – highest since January 2023 after negative sentiment subsides

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Original article by Roy Morgan
Market Research Update – Page: Online : 23-Oct-24

ANZ-Roy Morgan Consumer Confidence rose 4.1pts to 87.5 in the week to 20 October. Consumer Confidence has broken out of the sub-85 range for the first time in 90 weeks, and it now at its highest since January 2023; Consumer Confidence is also now 9.3 points above the same week a year ago (78.2), and 5.2 points above the 2024 weekly average of 82.3. A look at Consumer Confidence by State shows increases in all five mainland States this week, with the largest increases in New South Wales, Queensland and South Australia. Now 24% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 45% (down 4ppts) say their families are ‘worse off’ (the lowest figure for this indicator since January 2023). Looking forward, 34% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 29% (down 2ppts) expect to be ‘worse off’ (the lowest figure for this indicator since January 2023). However, only 8% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 28% (down 2ppts) expect ‘bad times’ (the lowest figure for this indicator since April 2022). Meanwhile, 24% (up 4ppts) of Australians say now is a ‘good time to buy’ major household items, while 45% (down 3ppts) say now is a ‘bad time to buy’ (the lowest figure for this indicator since October 2022).

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

Dutton calls on Thorpe to resign

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Original article by Paul Garvey, Rhiannon Down
The Australian – Page: 5 : 23-Oct-24

Independent senator Lidia Thorpe may face a censure motion when the upper house sits in mid-November. However, shadow home affairs minister James Paterson says the measure is only symbolic, adding that Thorpe would probably wear it as a "badge of honour". Meanwhile, Opposition leader Peter Dutton says Thorpe’s disruption of a parliamentary reception for King Charles and Queen Camilla on Monday was "disrespectful". He adds that there is a very strong argument that Thorpe should resign in principle, given that she does not believe in the parliamentary system but receives a quarter of a million dollars a year from taxpayers. Thorpe is paid a base salary of $233,660 and an additional $25,702 for chairing a committee on so-called ‘forever chemicals’.

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LIBERAL PARTY OF AUSTRALIA

IMF inflation warning: World goes low as we stay high

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Original article by Geoff Chambers, Jack Quail
The Australian – Page: 1 & 4 : 23-Oct-24

The International Monetary Fund’s latest World Economic Outlook report forecasts that Australia and Slovakia will be the only two advanced economies with headline inflation above three per cent by the end of 2025. The IMF expects Australia’s inflation rate to rise to 3.6 per cent by December 2025, as federal and state government cost-of-living relief is wound back. The IMF had previously forecast in April that Australia’s inflation rate would fall to 2.8 per cent in 2025. While some economists do not expect the Reserve Bank to begin reducing the cash rate until the second half of 2025, the IMF forecasts that other central banks will aggressively ease monetary policy. Meanwhile, the IMF now expects the Australian economy to grow by just 1.2 per cent in 2024, compared with its April forecast of 1.5 per cent growth.

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INTERNATIONAL MONETARY FUND, RESERVE BANK OF AUSTRALIA

‘I know what it’s like to struggle’: PM defends $4.3m beach house

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Original article by Phillip Coorey, Campbell Kwan
The Australian Financial Review – Page: 4 : 16-Oct-24

Prime Minister Anthony Albanese is under scrutiny following revelations that he has bought a waterfront home on the NSW central coast. Albanese and fiancee Jodie Haydon will pay $4.3m for the clifftop home, which has views over Copacabana Beach. One Labor MP has conceded that the purchase is "not a great look" for Albanese ahead of a federal election that is likely to be dominated by the rising cost of living and the housing crisis. Albanese has downplayed suggestions that he is preparing for life after politics, stating that he intends to remain in his current job "for a very long time". He adds that while he has been fortunate to earn a big salary as prime minister, he knows what it is like to struggle, having grown up in public housing.

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

Labor’s next woe: health premiums

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Original article by Michael Smith
The Australian Financial Review – Page: 1 & 6 : 16-Oct-24

Sources have indicated that private health insurers will seek approval from the federal government to increase their premiums by 5-6 per cent in 2025. This would be the highest increase since 2016, when premiums rose by an average of 6.18 per cent. Private health insurers are slated to make their final submissions to Health Minister Mark Butler in early November; the size of the premium increases is traditionally announced between December and March, and they take effect from 1 April. With the federal election due by mid-May and the cost-of-living crisis weighing on many voters, the government will be reluctant to approve a large increase in premiums.

CORPORATES
AUSTRALIA. DEPT OF HEALTH AND AGED CARE