AUSTRALIA – ECONOMIC POLICY

PM warns G20 on low global growth

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Original article by Phillip Coorey, Jacob Greber
The Australian Financial Review – Page: 1 : 2-Sep-16

Prime Minister Malcolm Turnbull will travel to China to participate in the Group of 20 summit meeting in the city of Hangzhou on 4-5 September 2016. As an advocate of trade liberalisation, Turnbull will express his concern about a trend towards protectionism and populism which is clearly visible in many parts of the world. He will also attend the East Asia Summit in Laos on 6-8 September 2016.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, INTERNATIONAL MONETARY FUND, GROUP OF TWENTY (G-20), AUSTRALIAN BUREAU OF STATISTICS

PM fires up with 25-point battle plan

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Original article by David Crowe
The Australian – Page: 1 & 6 : 29-Aug-16

Prime Minister Malcolm Turnbull will ramp up his economic reform agenda with plans to introduce 25 bills to Parliament on 31 August and 1 September 2016. Turnbull has insisted that the bills must be approved by the Coalition’s backbench committees before Parliament resumes on 30 August. The bills cover a range of policies, including personal income tax cuts, a reduction in the corporate tax rate, welfare reforms and tobacco excise. Turnbull has indicated that he is willing to negotiate with crossbenchers, amid signs that they may oppose key reforms such as the reinstatement of the Australian Building & Construction Commission.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET,{SPAC}LIBERAL PARTY OF AUSTRALIA,{SPAC}NATIONAL PARTY OF AUSTRALIA,{SPAC}AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION,{SPAC}AUSTRALIAN LABOR PARTY,{SPAC}NICK XENOPHON TEAM,{SPAC}LIBERAL DEMOCRATIC PARTY,{SPAC}ONE NATION PARTY,{SPAC}AUSTRALIA. DEPT OF THE TREASURY,{SPAC}AUSTRALIA. DEPT OF EMPLOYMENT,{SPAC}AUSTRALIA. DEPT OF SOCIAL SERVICES

Morrison’s ‘recession’ warning

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Original article by Phillip Coorey, Jacob Greber
The Australian Financial Review – Page: 1 & 2 : 25-Aug-16

Federal Treasurer Scott Morrison will use a speech on 25 August 2016 to highlight the risks to the economy if action is not taken to address the nation’s rising debt and Budget deficit. He will warn about the dangers of allowing complacency regarding Budget repair to set in, and stress that it will be much easier to pursue necessary reforms now rather than waiting until the country goes into recession. Morrison will argue that a balanced Budget, more private investment, and increased free trade and foreign investment are essential to avoid a recession.

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

PM’s $6.5b budget challenge to Labor comes with AAA warning

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 17-Aug-16

Prime Minister Malcolm Turnbull will call for bipartisan political support for the Coalition’s economic agenda in a Committee for Economic Development of Australia speech on 17 August 2016. Turnbull will also reveal plans to present a single bill to Parliament which will include 21 separate initiatives aimed at reducing government spending by $A6.49bn in total. He will stress the need for action in order to protect Australia’s coveted "AAA" credit rating. The Australian Labor Party is expected to support some of the measures.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN RENEWABLE ENERGY AGENCY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

PM puts tax cuts on first day agenda

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Original article by David Crowe
The Australian – Page: 1 & 6 : 1-Jul-16

Prime Minister Malcolm Turnbull says the Coalition is a united team and is committed to implementing its economic plan. In his last major speech of the election campaign, Turnbull identified tax cuts for employees and small businesses as the Coalition’s top priority if it is re-elected. Industrial relations will also be a priority, including legislation to reinstate the Australian Building & Construction Commission. Turnbull also emphasised that a strong economy is essential for the delivery of government services such as healthcare and education.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF HUMAN SERVICES, AUSTRALIAN GREENS, FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, VICTORIA. COUNTRY FIRE AUTHORITY, NATIONAL PRESS CLUB (AUSTRALIA)

RBA warning on Brexit

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Original article by Phillip Coorey, James Chessell
The Australian Financial Review – Page: 1 & 4 : 24-Jun-16

Prime Minister Malcolm Turnbull says there will be a global economic shock if the UK votes to leave the European Union, adding that the Coalition is best-placed to manage the Australian economy during such turmoil. Meanwhile, both major political parties have been briefed by the heads of the Reserve Bank, the Australian Prudential Regulation Authority and the Treasury on the likely impact of a "Brexit" on the local financial market. The outcome of the referendum is tipped to be very close.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, EUROPEAN COMMISSION, STANDARD AND POOR’S ASX 200 INDEX, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

‘Move Canberra to South Australia’

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Original article by Roy Morgan Research
Market Research Update – Page: online : 17-Jun-16

Australia’s economic problems could be solved by shifting the country’s political centre from Canberra to South Australia. Michele Levine, the CEO of Roy Morgan Research, believes that the end of the mining boom is a serious challenge for Australian politicians. Regrettably, Federal politicians in Canberra are "detached from reality". The relocation of the capital to South Australia would open their eyes to the real issues facing Australians on a day-to-day basis. The Federal Government must increase workplace productivity, eliminate the cash economy, be tougher on government and corporate corruption, stimulate competition in the private sector, introduce more transparency in government tenders and improve government data collection.

CORPORATES
ROY MORGAN RESEARCH LIMITED, ARRIUM LIMITED – ASX ARI, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor admits bigger deficits prompting AAA warnings

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 9-Jun-16

The Federal Opposition has conceded that the budget deficit will increase over the next four years under its 10-year economic plan. However, it expects to eliminate the deficit in 2020-21, and argues that its policies will have a much greater net benefit to the budget bottom line over a decade than the Australian Government’s plans to reduce the company tax rate. Finance Minister Mathias Cormann has warned that the Opposition’s higher deficit over the next four years could jeopardise Australia’s triple-A credit rating.

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

Business united in push for PM’s economic agenda

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Original article by David Crowe
The Australian – Page: 1 & 6 : 25-May-16

Support for the Federal Government’s push to reduce the corporate tax rate will be a key element of the Australian Chamber of Commerce & Industry’s policy agenda, which will be launched on 25 May 2016. ACCI CEO James Pearson has urged bipartisan support for the eventual adoption of a uniform tax rate for all businesses, arguing that this is necessary in order to encourage investment and create jobs. Meanwhile, Opposition Leader Bill Shorten has defended the Australian Labor Party’s economic plan, stressing that its focus is on "fairness".

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

It’s time to reignite growth

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Original article by Annabel Hepworth, David Swan
The Australian – Page: 19 & 22 : 9-May-16

Business leaders say workplace reform, corporate taxes and economic stimulus are among the issues that need to be addressed during the 56-day federal election campaign. Andrew Harding, the head of Rio Tinto’s iron ore division, has stressed the need for policies that will promote economic growth, a view shared by Virgin Australia Holdings CEO John Borghetti. Business Council of Australia CEO Jennifer Westacott also argues that measures to boost economic growth should be a priority, while the Australian Industry Group has emphasised the need for tax reform.

CORPORATES
RIO TINTO LIMITED – ASX RIO, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, OFX, AUSTRALIAN LABOR PARTY