O75 Public Administration

Reserve Bank takes aim at mortgages

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Original article by Michael Bennet
The Australian – Page: 17 : 28-Aug-14

The four major as well as smaller regional banks have lodged their submissions for the second round of the Australian Government’s financial system review. The main lenders are arguing against stricter capital requirement rules, while the minor banks want access to public guarantees on the same favourable terms enjoyed by their competitors. However both lobbying efforts have now been criticised by the Reserve Bank of Australia. It is concerned about any moves that would lead to even greater mortgage lending, as consumers may default when interest rates rise again

CORPORATES
RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BANKERS’ ASSOCIATION, BBY LIMITED, PRICEWATERHOUSECOOPERS, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Business chiefs push for medical research fund

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Original article by Jemima Whyte, Joanna Heath, Jessica Gardner
The Australian Financial Review – Page: 1 & 4 : 28-Aug-14

Some business leaders are publicly supporting the Australian Government’s $A20 billion Medical Research Future Fund. UBS CEO Matthew Grounds, Wesfarmers CEO Richard Goyder and ASX CEO Elmer Funke Kupper are concerned that the measure will not be passed by the Senate. They said that it will provide social and commercial benefits for Australia, attracting capital and making the health sector more profitable

CORPORATES
WESFARMERS LIMITED – ASX WES, ASX LIMITED – ASX ASX, UBS HOLDINGS PTY LTD, AUSTRALIAN MOTORING ENTHUSIAST PARTY, AUSTRALIA. DEPT OF HEALTH, HEALTHSCOPE LIMITED – ASX HSO

Australians’ Inflation Expectations fall to 5.0% (down 0.3%)

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 26-Aug-14

A face-to-face Morgan Poll has found that Australian inflation expectations over the next two years fell by 0.3 per cent to five per cent a year in July 2014. This is also 0.3 per cent lower than in June 2013. Analysis by federal voting intention shows that Coalition supporters have the lowest inflation expectations, at four per cent, compared with 5.2 per cent for Australian Labor Party supporters. Roy Morgan Research executive chairman Gary Morgan says the most important policy priority for the Federal Government is to reduce Australia’s high level of unemployment and under-employment if it is to stand any chance of winning the 2016 election

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Imports key to cheap luxury cars

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Original article by Ben Potter
The Australian Financial Review – Page: 3 : 27-Aug-14

The Australian Government will soon review the Motor Vehicle Standards Act, and Industry Minister Ian Macfarlane says it will take on board a recommendation by the Productivity Commission to liberalise the market for "grey" imports. A duty of $A12,000 on used cars sourced from overseas may be scrapped, and consumers could be able to save $A2.6bn annually by buying comparable models brought in from countries such as Japan and the UK. The automobile industry is opposed to the plans

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, GM HOLDEN LIMITED, GENERAL MOTORS CORPORATION, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, FORD MOTOR COMPANY AUSTRALIA LIMITED, FEDERAL CHAMBER OF AUTOMOTIVE INDUSTRIES, THE AUSTRALIAN INDUSTRY GROUP, NICK THEODOSSI PRESTIGE CARS

Concern over progress of NSW children taught at home

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Original article by Alexandra Smith
The Sydney Morning Herald – Page: 2 : 26-Aug-14

The New South Wales Government’s parliamentary inquiry into home schooling will commence public hearings in September 2014. Some 3,238 students were registered for home schooling in the state in December 2013, but groups that are involved in home schooling believe that the unofficial figure is much higher. The Department of Education’s submission to the inquiry notes the lack of procedures to gauge the true extent of unregistered home education

CORPORATES
NEW SOUTH WALES. DEPT OF EDUCATION AND COMMUNITIES, HOME EDUCATION NETWORK, NEW SOUTH WALES. BOARD OF STUDIES, NEW SOUTH WALES. OMBUDSMAN’S OFFICE

ALP lead down slightly over L-NP (55.5%:44.5%)

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 25-Aug-14

A multi-mode Morgan Poll on Federal voting intention has found that support for the Coalition on a two-party preferred basis has risen by 0.5 per cent to 44.5 per cent. The poll, which was carried out on the weekends of 16-17 and 23-24 August 2014, also shows that support for the Australian Labor Party has fallen by 0.5 per cent to 55.5 per cent. Roy Morgan Research executive chairman Gary Morgan says Prime Minister Tony Abbott can show leadership by addressing Australia’s high level of unemployment and under-employment

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Youth unemployment spirals to ‘social disaster’

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Original article by Henrietta Cook
The Age – Page: 1 : 26-Aug-14

New data shows that Victoria now boasts Australia’s second-highest level of youth unemployment, which rose from 12.3 per cent to 13.8 per cent in the year to July 2014. Youth unemployment has risen in 12 regions of Victoria in the last 12 months, with just five regions recording a fall. Emma King, the CEO of the Victoria Council of Social Service, says government, business and the community must co-operate to address the issue, noting that youth unemployment is at its highest level in 15 years

CORPORATES
VICTORIAN COUNCIL OF SOCIAL SERVICE, BROTHERHOOD OF ST LAURENCE, AUSTRALIAN BUREAU OF STATISTICS, VICTORIA. DEPT OF TREASURY AND FINANCE, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN LABOR PARTY

Labor, Greens could say ‘yes’

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Original article by Joanna Heath
The Australian Financial Review – Page: 7 : 26-Aug-14

An amended climate policy may gain the support of the Australian Labor Party and the Australian Greens. Independent senator Nick Xenophon is finalising amendments that would give access to international carbon permits. This would allow the passage of the Direct Action legislation without the support of crossbench MPs. However, divisions in the government would have to be resolved, as Prime Minister Tony Abbott is opposed to the inclusion of international permits

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED

ASX chief pleads for reform gridlock to end

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Original article by Andrew White
The Australian – Page: 17 : 25-Aug-14

Federal Trade and Investment Minister Andrew Robb recently said the Government was already rolling out measures to boost competitiveness, after a report was issued by the Business Council of Australia (BCA). It had argued the Government should foster certain industries that have a natural edge over others. The study, commissioned from McKinsey & Company, sparked claims the BCA was "picking winners". This has now been rejected by new BCA board member Elmer Funke Kupper, CEO of stock exchange operator ASX

CORPORATES
ASX LIMITED – ASX ASX, BUSINESS COUNCIL OF AUSTRALIA, McKINSEY AND COMPANY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Cheaper green permits

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Original article by Joanna Heath, Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 25-Aug-14

Independent senator Nick Xenophon has proposed to allow Australian companies to purchase international carbon permits. The initiative is said to have the support of Environment Minister Greg Hunt, although a spokeswoman for Hunt has indicated that international permits are not on the agenda at present. However, the business sector favours allowing local companies to buy carbon permits from overseas

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, PALMER UNITED PARTY, CLEAN ENERGY COUNCIL LIMITED, REPUTEX AUSTRALIA PACIFIC PTY LTD, DEMOCRATIC LABOR PARTY