Double dissolution election threat is serious, says Labor

Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 3-Oct-24

The Greens recently blocked the federal government’s Help to Buy legislation in the Senate, forcing a vote on the bill to be delayed until November. However, Housing Minister Claire O’Neil has confirmed that Labor intends to reintroduce the bill for a shared equity scheme to the lower house when parliament resumes next week. The bill could potentially be used as a trigger for a double dissolution election, and O’Neil says this remains a "live option". The window for a double dissolution election is very narrow, and the government is likely to stick to the regular election cycle.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF SOCIAL SERVICES

October 7 rally organisers to push ahead with grotesque gathering

Original article by Jade Gailberger, Carly Douglas, Mitch Clarke, Clare Armstrong
Herald Sun – Page: Online : 3-Oct-24

The organisers of a pro-Palestine rally to be held in Melbourne on Monday have refused to back down and reschedule the event. Victoria Police have warned that they lack the power to stop the rally from proceeding on the first anniversary of the Hamas terrorist attacks on Israel, given that the state has no permit system for protests. NSW police are continuing to seek a court order preventing similar rallies being staged in Sydney on the same day. Prime Minister Anthony Albanese says it is not an appropriate date to hold a rally in support of Palestine, while Opposition leader Peter Dutton says the government should do it all can at both state and federal level to stop the rallies from going ahead.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, VICTORIA POLICE

ACTU’s new IR marching orders

Original article by Ewin Hannan
The Australian – Page: 1 & 6 : 2-Oct-24

ACTU secretary Sally McManus has revealed the union movement’s priorities if the federal government is re-elected for a second term. Amongst other things, unions will target junior pay rates for people who are 18-20 years of age and work in sectors such as retail, fast-food and pharmacy. The Fair Work Commission will hear the shop assistant union’s application to abolish junior pay rates next year, and McManus says the ACTU will lobby the government to legislate on the issue if the FWC rejects it. She says the loading rate for casual workers also needs to be reviewed, while the minimum standards for gig-economy workers should be extended to freelancers.

CORPORATES
ACTU

Sex work, yoga banned from disability scheme

Original article by Tom McIlroy
The Australian Financial Review – Page: 4 : 2-Oct-24

The federal government’s first list of approved services for National Disability Insurance Scheme participants will take effect on Thursday. Participants will be banned from using their NDIS funding to pay for a range of products and services; this includes groceries, cigarettes, accommodation costs, sex work and cuddle therapy. Items on the approved list include assistance animals, mobility supports, transport costs, prostheses and nursing care. There will be a 12-month transition period, and NDIS Minister Bill Shorten says remedial action will only be taken if there has been a clear breach of the rules.

CORPORATES

Double dissolution election threat to be revived in parliament over housing fight, as $100m crisis fund opens

Original article by Tom Lowrey
abc.net.au – Page: Online : 2-Oct-24

The federal government hopes to resolve an impasse over its Help to Buy housing bill when it is put before parliament again next week. The Coalition opposes the shared equity scheme, while the Greens have sought major concessions in other areas of housing policy in return for supporting the bill. Housing Minister Claire O’Neil has left open the possibility of a double-dissolution election if the bill continues to be stalled in the Senate. Meanwhile, the government has begun accepting applications for grants via the Crisis and Transitional Accommodation Program, which will provide financial assistance for victims of domestic violence.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN GREENS

ANZ-Roy Morgan Consumer Confidence drops 2.9pts to 82.0 after the RBA leaves interest rates unchanged at 4.35%

Original article by Roy Morgan
Market Research Update – Page: Online : 2-Oct-24

ANZ-Roy Morgan Consumer Confidence fell 2.9pts to 82.0 in the week to 29 September. Consumer Confidence has now spent a record 87 straight weeks below the mark of 85; however, it is still 3.8 points above the same week a year ago (78.2), and in line with the 2024 weekly average of 82.1. Consumer Confidence was down in New South Wales, Queensland and Western Australia, but unchanged in Victoria and South Australia. Now 20% of Australians (down 3ppts) say their families are ‘better off’ financially than this time last year, while 53% (up 5ppts) say their families are ‘worse off’. Looking forward, 32% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (unchanged) expect to be ‘worse off’. Now 9% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 31% (unchanged) expect ‘bad times’. Meanwhile, 20% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 49% (unchanged) say now is a ‘bad time to buy’.

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

White-flag Albanese

Original article by Joe Kelly, Noah Yim
The Australian – Page: 1 & 2 : 2-Oct-24

US Defense Secretary Lloyd Austin has backed Israel’s limited invasion of southern Lebanon that has targeted key Hezbollah sites. Austin discussed the issue with Israeli counterpart Yoav Gallant, and says they agreed with the necessity of the ground operation in Lebanon. However, the federal government is under scrutiny for declining to publicly support the move; a spokeswoman for Foreign Minister Penny Wong has called for an immediate ceasefire in Lebanon, contending that the nation’s civilians should not have to pay the price of defeating Hezbollah. Opposition leader Peter Dutton in turn has stated that Labor’s abandonment of Israel is the "worst foreign affairs call in our generation".

CORPORATES
UNITED STATES. DEPT OF DEFENSE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, LIBERAL PARTY OF AUSTRALIA

ANZ-Roy Morgan New Zealand Consumer Confidence hits highest points since January 2022 at 95.1

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Oct-24

ANZ-Roy Morgan New Zealand Consumer Confidence rose 2.9 points in September to 95.1, its third straight month of improvement. At 95.1 it is still well below par, but Consumer Confidence is at its highest level since January 2022. The future conditions index rose another 5 points from 100.5 to 105.6; the current conditions index was flat and is much more subdued at 79.6. Net perceptions of current personal financial situations rose 2 points to -16% in September; 26% (up 3% points) of New Zealanders say they are ‘better off’ financially than this time last year, while 41% (unchanged) say they are ‘worse off’. Meanwhile, a net 25% of New Zealanders expect to be better off this time next year, up 8 points from a month ago. A net 25% of New Zealanders think it is a bad time to buy a major household item. Two-year-ahead CPI inflation expectations were unchanged at 3.8%.

CORPORATES
ROY MORGAN LIMITED

Stalled spend lifts surplus to $15bn

Original article by Jack Quail
The Australian – Page: 4 : 1-Oct-24

Treasurer Jim Chalmers has attributed the federal government’s higher-than-forecast budget surplus for 2023-24 to lower spending rather than increased taxes. The final budget outcome for 2023-24 has confirmed a surplus of $15.8bn, which is $9.3bn higher than was forecast in the May budget. Shadow treasurer Angus Taylor claims that Labor is using temporary windfalls to boost the budget bottom line, adding that its two successive surpluses will be followed by a series of deficits. The government achieved significant savings by deferring expenditure in a range of areas in 2023-24; meanwhile, personal income tax revenue was $3.1bn lower than expected at $331.5bn and corporate tax receipts were $1.7bn below expectations at $141.2bn.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA

Roy Morgan Poll: Federal election too close to call with Coalition (51%) now marginally ahead of the ALP (49%)

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Oct-24

If a Federal Election were held now the result would be ‘too close to call’, with the Coalition on 51% (up 1.5% from a week ago) just ahead of the ALP on 49% (down 1.5%) on a two-party preferred basis, the latest Roy Morgan survey finds. This is the first time the Coalition has been in front for over a month – based on preferences being distributed by what electors tell us. However, when preferences are allocated based on how Australians voted at the 2022 Federal Election the result is reversed with the ALP on 51.5% (down 0.5% from a week ago) cf. L-NP 48.5% (up 0.5%). This tight result emphasises again how important preference flows will be in determining which major party is best placed to form government with the support of minor parties and independents after the next federal election. ALP primary vote support dropped 2% points to 30% while Coalition support was up 0.5% points at 38% – an 8% point gap between the two parties, the largest for a month. Support for the Greens was up 1% to 13.5% while One Nation was down 0.5% at 4.5%. Support for Other Parties increased 1% to 4.5% and support for Independents was unchanged at 9.5%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY