O75 Public Administration

PM’s plan risks forever subsidies

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Original article by Michael Read, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Apr-24

Productivity Commission chair Danielle Wood has warned that the federal government’s Future Made in Australia Act will have an economic cost. The government will provide incentives and subsidies to encourage local manufacturing, but Wood contends that the Act must include a mechanism for winding back this financial support in order to avoid having businesses become reliant on government subsidies. Meanwhile, Opposition leader Peter Dutton says local manufacturers are going broke or relocating offshore due to factors such as high energy costs and the government’s industrial relations regime.

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AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA

Bridget Archer leads criticism after Peter Dutton compares pro-Palestine protest to Port Arthur massacre

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Original article by Sarah Basford Canales, Luca Ittimani
The Guardian Australia – Page: Online : 12-Apr-24

Opposition leader Peter Dutton is under growing scrutiny over a recent speech in which he raised concern about the growing incidence of anti-Semitism in Australia. Liberal backbencher Bridget Archer has questioned the appropriateness of Dutton’s comment in which he said that pro-Palestine protests at the Sydney Opera House on 9 October were "akin to a Port Arthur moment in terms of their social significance". Archer says this comment was "incredibly disrespectful" to the victims and survivors of the Port Arthur massacre, while Prime Minister Anthony Albanese says Dutton "went too far". Dutton says he was referring to former prime minister John Howard’s strength as a leader; the Port Arthur massacre resulting in stricter gun laws in Australia.

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

Chinese Premier Li Qiang tipped to visit Canberra in June

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Original article by Michael Smith, Andrew Tillett
The Australian Financial Review – Page: 11 : 12-Apr-24

The office of Prime Minister Anthony Albanese has declined to comment on reports that Chinese Premier Li Qiang will visit Australia in June. He would be the most senior Chinese leader to visit Australia since his predecessor Li Keqiang in 2017. Warwick Smith from the Business Council of Australia says a June trip would be logical, as it would coincide with the Australia China Business Dialogue in Sydney. The Chinese media reports also suggested that the ban on Australian lobster exports will be lifted during the visit. China recently scrapped its punitive tariff on Australian wine.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA

Labor using population surge for jobs spin

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Original article by Geoff Chambers
The Australian – Page: 2 : 10-Apr-24

The federal government recently claimed that it has created about 790,000 new jobs since it won the May 2022 election. This is an average of 1,220 jobs per day, which Labor says is the highest of any government. However, shadow treasurer Angus Taylor contends that the growth in jobs merely reflects the fact that Australia’s adult population has increased by more than one million people since Labor took office, which is equivalent to an average of 1,369 per day. He adds that immigration is the only thing keeping the economy going at present. Taylor also notes that nearly one million people are now working a ­second or third job due to the cost-of-living crisis.

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AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

NDIS cost shifting criminal: Shorten

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Original article by Christine Middap, Ellie Dudley, Stephen Lunn
The Australian – Page: 1 & 6 : 10-Apr-24

The federal government has flagged a crackdown on the use of the National Disability Insurance Scheme by convicted criminals. NDIS Minister Bill Shorten has responded to revelations that one of the nation’s worst serial sex offenders will receive an NDIS support package when he is released from prison. Shorten says the government does not believe that it is appropriate for this person to receive NDIS funding. He adds that state governments should not use the NDIS as a ‘dumping ground’ to fund support for violent criminals, contending that providing them with such services is the responsibility of state justice and corrections departments.

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AUSTRALIA. DEPT OF SOCIAL SERVICES

Labor turns screw on mergers

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Original article by Ronald Mizen
The Australian Financial Review – Page: 1 & 6 : 10-Apr-24

The federal government will give the Australian Competition & Consumer Commission new powers to block merger deals in reforms to be announced by Treasurer Jim Chalmers today. He contends that the existing competition laws do not adequately address ‘serial acquisitions’ by large companies and acquisitions that entrench the power of market leaders. The reforms will not be as extensive as ACCC chair Gina Cass-Gottlieb wanted. She has pushed for merger partners to be required to satisfy the ACCC that the deal is unlikely to substantially lessen competition. However, the ACCC will have to be reasonably satisfied that a merger is likely to substantially lessen competition in order to block a deal.

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AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE TREASURY

Retail insolvencies rise as cost-of-living pressures slash consumer spending

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Original article by Kate Ainsworth, Emilia Terzon
abc.net.au – Page: Online : 10-Apr-24

Data from the Australian Securities & Investments Commission shows that 502 businesses in the retail sector have gone into administration so far in 2023-24, compared with just 193 during the same period in 2021-22. Factors such as the cost-of-living crisis and high mortgage interest rates are weighing on consumer spending, with smaller retailers in particular bearing the brunt. National Retail Association CEO Rob Godwin expects more businesses in the sector to collapse in the final months of the financial year. He says the federal government’s budget in May should provide financial assistance for retailers, particularly small and medium-sized businesses.

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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NATIONAL RETAIL ASSOCIATION LIMITED

Wong suggests Australian government considering recognising Palestinian statehood

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Original article by Stephen Dziedzic
abc.net.au – Page: Online : 10-Apr-24

Australia’s Jewish community has expressed concern over comments made by Foreign Minister Penny Wong which suggested that the federal government may be open to recognising a Palestinian state. Wong has used a speech at a National Security College conference to contend that international recognition of Palestinian statehood could provide a pathway to a two-state solution to the Israeli-Palestinian conflict. Wong also argued that recognition of Palestinian statehood would help to undermine the Hamas terrorist organisation. Zionist Federation of Australia president Jeremy Leibler says Hamas must be removed from power in Gaza before there can be any consideration of statehood; he adds that there must be a new generation of Palestinian leaders who recognise Israel’s right to exist.

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AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, ZIONIST FEDERATION OF AUSTRALIA

ANZ-Roy Morgan Consumer Confidence drops 0.9 points to 81.9 as Australians less confident about personal finances

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-Apr-24

ANZ-Roy Morgan Consumer Confidence fell 0.9pts to 81.9 in the week to 7 April; the index has now spent a record 62 straight weeks below the mark of 85. However, Consumer Confidence is 2.6 points above the same week a year ago (79.3), and just 1 point below the 2024 weekly average of 82.9. Consumer Confidence was down in Victoria, but up in New South Wales, Queensland, South Australia and Western Australia. Now 19% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 53% (up 1ppt) say their families are ‘worse off’. Looking forward, 31% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (unchanged) expect to be ‘worse off’. Now 10% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 31% (unchanged) expect ‘bad times’. Meanwhile, 21% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 47% (down 4ppts) say now is a ‘bad time to buy’.

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

Roy Morgan CEO Michele Levine explains the changes that are transforming the Australian labour force as part-time work surges and drives a sustained increase in under-employment

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Original article by Michele Levine
Market Research Update – Page: Online : 9-Apr-24

Although total Australian unemployment or under-employment was virtually unchanged in March, the combined figure has averaged over 3 million (19.3% of the workforce) for the last six months, up from 2.86 million (18.8%) for the previous six months. Importantly, there has been a re-alignment in the employment markets in recent months with the increase in overall labour under-utilisation driven by a sustained rise in under-employment which is directly correlated to surging part-time employment. In March, part-time employment increased by 295,000 (up 6.1% on a month ago) to a new record high of 5,164,000. In contrast, full-time employment decreased by 256,000 (down 2.7%) to 9,103,000. This trend of the increasing casualisation of the workforce is evident when comparing the latest employment figures for March with a year ago. Since March 2023 part-time employment has surged by 580,000 (84% of jobs created over the last year) while full-time employment has increased by only 113,000 (16% of jobs created). As part-time employment increases it makes sense we see a sustained rise in under-employment – people who are working part-time but would like to work more hours or work full-time. These results indicate the underlying weakness in the economy with under-employment now over 1.5 million for six months in a row – this has never happened before, even during the recent pandemic – "another reason" why the Reserve Bank should consider reducing interest rates.

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ROY MORGAN LIMITED