O75 Public Administration

Labor will pursue cannabis reform

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Original article by Henrietta Cook, Anna Whitelaw
The Age – Page: 3 : 25-Aug-14

Victorian Opposition leader Daniel Andrews has announced that the Australian Labor Party’s platform for the November 2014 state election will contain a pledge to reform current legislation that bans the use of cannabis for medical purposes. If elected, Labor will ask the Victorian Law Reform Commission for proposals on how to decriminalise the use of the drug in the area of pain relief. Tony Bartone, the Australian Medical Association’s state branch president, backs the push

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN MEDICAL ASSOCIATION (VICTORIA) LIMITED, VICTORIAN LAW REFORM COMMISSION

Murray wants banks to prepare for market correction

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Original article by James Eyers, Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 22-Aug-14

The chairman of the financial system inquiry, David Murray, notes that Australia was largely unaffected by the global financial crisis. However, he warns that the domestic banking sector must take action to be ready for an eventual correction in asset prices, which have been boosted by stimulus measures in the wake of the crisis. Murray has previously noted that it could be necessary for banks to increase their capital reserves

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AUSTRALIAN BANKERS’ ASSOCIATION, RESERVE BANK OF AUSTRALIA

Shell’s man cans corporate welfare

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Original article by Andrew Burrell
The Australian – Page: 18 : 21-Aug-14

The Committee for Economic Development of Australia on 20 August 2014 heard from Andrew Smith, the chair of Shell Australia. He argued that the industrial relations system needs to be overhauled in order to ensure further productivity gains, which in turn will improve living standards. Smith honoured the victims of previous reforms that had from the 1970s on dismantled the trade tariffs protecting many industries, and also said businesses must not rely on government aid

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SHELL COMPANY OF AUSTRALIA LIMITED,ROYAL DUTCH SHELL PLC,WOODSIDE PETROLEUM LIMITED – ASX WPL,COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

RBA tells Abbott to hold nerve

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Original article by Phillip Coorey,Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 21-Aug-14

The Australian Government continues to lobby minor party and independent senators on getting $A47bn worth of May 2014 Budget measures passed. However Prime Minister Tony Abbott has scaled back his rhetoric and is no longer labelling the Budget situation a "crisis" or "emergency". Meanwhile Reserve Bank of Australia governor Glenn Stevens has backed the Government’s cuts, which he said were far from dramatic. He also noted that monetary policy alone could not keep the economy on track

CORPORATES
RESERVE BANK OF AUSTRALIA,AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET,AUSTRALIA. DEPT OF THE TREASURY,AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA,AUSTRALIAN MEDICAL ASSOCIATION LIMITED,AUSTRALIA. DEPT OF FINANCE,LIBERAL DEMOCRATIC PARTY,LIBERAL PARTY OF AUSTRALIA,AUSTRALIAN LABOR PARTY,NICK XENOPHON GROUP,DELOITTE ACCESS ECONOMICS PTY LTD

‘No evidence’ over higher medicine cost affecting use

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Original article by Dan Harrison
The Sydney Morning Herald – Page: 5 : 20-Aug-14

The Pharmaceutical Society of Australia, the Grattan Institute and others have cited research on the effect of higher prices for prescription drugs in their evidence to a Senate inquiry into a Federal Government plan to lift fees under the Pharmaceutical Benefits Scheme. On 19 August 2014 however, acting Health Department deputy secretary Richard Bartlett rejected claims that the increased charges would lead to some patients opting not to buy the medications prescribed by their doctors. The Government aims to save $A1.3bn over four years

CORPORATES
PHARMACEUTICAL SOCIETY OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN GREENS, GRATTAN INSTITUTE

Palmer stands by China insult

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Original article by Phillip Coorey, Tony Walker
The Australian Financial Review – Page: 1 & 4 : 20-Aug-14

Billionaire businessman and Australian federal MP Clive Palmer is engaged in litigation with Chinese state enterprise Citic Pacific over iron ore royalties. When asked about the lawsuits on TV, he said the Chinese Government was looking to exploit Australia, and he used terms such as "mongrels" and "bastards". The Australian Government as well as business leaders have now sought to repair the damage to the relationship with the nation’s foremost trading partner. Palmer refused to withdraw the attack, other than to clarify it was not aimed at the Chinese people. One of the senators from his Palmer United Party, Jacqui Lambie, also said China’s military expansion posed a serious threat

CORPORATES
PALMER UNITED PARTY, CITIC PACIFIC LIMITED, AUSTRALIAN LABOR PARTY, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF WESTERN AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, COMMUNIST PARTY (CHINA), AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, THE AUSTRALIAN INDUSTRY GROUP

Company tax uncompetitive

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Original article by Mark Ludlow, Jacob Greber
The Australian Financial Review – Page: 3 : 20-Aug-14

The Australian Government plans a 1.5 per cent reduction in the 30 per cent corporate tax rate by the end of 2014-15. However, economist John Edwards has called for a more aggressive reduction in the corporate tax rate in order to make the nation more competitive internationally. Switzerland’s company tax rate of just 18 per cent was a key factor in CSL’s decision to invest $A500m in a new factory in that country rather than Australia

CORPORATES
CSL LIMITED – ASX CSL, RESERVE BANK OF AUSTRALIA, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, GROUP OF TWENTY (G-20)

Free-trade agreement benefits going to waste

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Original article by Sue Neales
The Australian – Page: 20 : 20-Aug-14

HSBC Bank has issued a new study commissioned from the Economist Intelligence Unit, on the impact of the nine free trade agreements (FTAs) Australia has entered into since 2005. The results of the research show that the bilateral deals have been used by a mere 19% of export-focused businesses to boost their trade with the other nations. Among the reasons is the legal complexity of the FTAs, which contributes to widespread ignorance among companies of the available improvements

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HSBC BANK AUSTRALIA LIMITED, ECONOMIST INTELLIGENCE UNIT, EXPORT COUNCIL OF AUSTRALIA LIMITED

Nahan takes GST fight to Canberra

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Original article by Daniel Emerson
The West Australian – Page: 10 : 19-Aug-14

The Western Australian (WA) Government will press its case for a fairer distribution of goods and services tax receipts. WA Treasurer Mike Nahan will address a meeting of Federal MPs in Canberra. There are a number of WA Liberal Party MPs in Cabinet and the outer ministry, as well as a number of senators

CORPORATES
WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF DEFENCE, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET

G20 ‘has a duty to get tough on tax dodgers’

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Original article by Annabel Hepworth
The Australian – Page: 18 : 19-Aug-14

Stephen Martin, CEO of the Committee for Economic Development of Australia, will issue a paper on 18 August 2014 that calls for the Federal Government to ensure tangible outcomes are achieved when the nation hosts the Group of 20 (G20) leaders’ summit later in the year. A major issue will be action by G20 members to crack down on tax evasion via profit shifting by multinational corporations. Martin warns that diplomatic disputes such as that with Russia over its actions in Ukraine must not detract from the G20 agenda

CORPORATES
GROUP OF TWENTY (G-20), COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSMIN, UNITED STATES. DEPT OF STATE