AUSTRALIA – POLITICS AND GOVERNMENT

Smelters face risk of closure, Nyrstar warns

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 16 : 2-Jul-25

Nyrstar Australia’s CEO Matt Howell says the company’s smelters in South Australia and Tasmania are expected to post losses totalling "several hundred millon" dollars over the next two years. He says a joint state and federal government rescue package is vital to the future of the smelters, and a deal with the governments is expected shortly. Significant capital investment is required for both the Port Pirie and Hobart smelters, while Nyrstar is also looking at the viability of upgrading the plants to process critical minerals. Tony Wood from the Grattan Institute contends that government assistance should only be provided if it is deemed to be in the national interest.

CORPORATES
NYRSTAR AUSTRALIA PTY LTD, GRATTAN INSTITUTE

Keating says 12pc super is 25 years late but worth wait

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 1-Jul-25

The compulsory superannuation guarantee will rise by 0.5 per cent to 12 per cent today, following progressive increases in recent years. Former prime minister Paul Keating – considered to be one of the ‘architects’ of Australia’s super system – has welcomed the milestone but says it should have been reached in 2000. The Coalition government of the era froze the guarantee at nine per cent, a policy which remained in place until 2013. Keating contends that the delay has cost some workers up to $300,000 in retirement savings. He opposes the federal government’s proposed changes to the tax treatment of super, particularly the taxation of unrealised capital gains.

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Gas crisis: Bowen calls on reserves

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Original article by Greg Brown, Colin Packham
The Australian – Page: 1 & 2 : 1-Jul-25

The federal government will undertake a review of the east coast gas market, amid new fears that a shortage could potentially occur by the end of 2025. Climate Change and Energy Minister Chris Bowen has indicated that the government will require new gas projects to supply some of their output to the domestic market, although the policy will not affect the LNG export contracts of existing projects. The government will also consider the option of an east coast reservation scheme, which the Opposition had proposed during its ill-fated election campaign. Bowen has conceded that gas will be crucial to the energy transition, although he remains upbeat about the nation’s troubled green hydrogen industry.

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AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER

Roy Morgan Poll: Albanese Government retains strong two-party preferred lead after US strikes on Iranian nuclear facilities: ALP 57.5% cf. L-NP 42.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Jul-25

In the final week of June, and following immediately after US strikes on Iranian nuclear facilities, the ALP 57.5% has maintained a large two-party preferred lead over the L-NP Coalition 42.5%, virtually unchanged on a week earlier, the latest Roy Morgan survey finds. Interviewing for this survey began on Monday June 23 – the same day Prime Minister Anthony Albanese and Foreign Minister Penny Wong expressed support for the decision by the United States to strike the Iranian nuclear facilities and reiterated Australia’s position that Iran not be able to develop nuclear weapons. In the final week of June primary support for the ALP was at 36.5% (down 1% since early June) and clearly ahead of the Liberal-National Coalition on 30.5% (down 0.5%). Support for the Greens was unchanged on 12% and support for One Nation increased 2.5% to 8.5%. In addition, support for Independents/Other Parties was at 12.5% (down 1%).

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

PM blowing up our defence hopes

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Original article by Ben Packham
The Australian – Page: 1 & 4 : 1-Jul-25

The federal government struck a deal with the Biden administration in 2024 to purchase $7bn worth of guided missiles for its fleet of warships. However, the deal has yet to receive final approval from the White House, and there are fears that the Trump administration could redirect the consignment of missiles to a US ally that is willing to meet its demands regarding defence spending. Prime Minister Anthony Albanese is continuing to resist pressure from the US to increase defence expenditure to 3.5 per cent of GDP; he is adamant that the government will stick with its target of just 2.3 per cent by 2033.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Federal voting intention before US bombing of Iranian nuclear sites showed the ALP retained a strong two-party preferred lead: ALP 58% cf. L-NP 42%

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Jun-25

The latest Roy Morgan survey shows that the ALP on 58% maintained a large two-party preferred lead over the L-NP Coalition on 42% on a two-party preferred basis for the first three weeks of June. Primary support for the ALP was at 37.5% (up 0.5% since May) in the first three weeks of June, and is clearly ahead of the Liberal-National Coalition on 31% (unchanged). Support for the Greens increased 0.5% to 12% and support for One Nation was unchanged at 6%. In addition, support for Independents/Other Parties was at 13.5% (down 1%). Meanwhile, the Roy Morgan Government Confidence Rating increased 4.5 points to 101.5 during the first three weeks of June. Government Confidence is now above the neutral level of 100 for the first time since February 2023. The latest Roy Morgan survey is based on interviewing a representative cross-section of 3,957 Australian electors from 2-22 June.

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

YouTube blasts eSafety chief for ban on under 16s

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 10 : 25-Jun-25

The federal government’s proposal to exempt YouTube from its ban on allowing children under the age of 16 to access social media continues to attract scrutiny. YouTube contends that eSafety Commissioner Julie Inman Grant has provided "inconsistent and contradictory" advice to the government in her recommendation to scrap the exemption; YouTube executive Rachel Lord notes that Inman Grant had previously expressed concern that the ban may limit young Australians’ access to ‘critical support’. Lord also argues that YouTube is a video-streaming platform rather than a social media platform.

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YOUTUBE INCORPORATED, AUSTRALIA. OFFICE OF THE ESAFETY COMMISSIONER

GST warning in roundtable revamp

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Original article by Matthew Cranston, Greg Brown, Sarah Elks
The Australian – Page: 1 & 4 : 25-Jun-25

Prime Minister Anthony Albanese had pitched the federal government’s plans to bring unions, business leaders and community groups together in August as a productivity roundtable. However, Treasurer Jim Chalmers has sought to broaden the scope of the summit by describing it as an "economic reform roundtable". He has also reiterated that the goods and services tax will be on the agenda; Chalmers adds that changes to the GST will only be considered if they are revenue-neutral and in the national interest.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Blockade a wake-up call for fuel reserves

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 25-Jun-25

Defence and national security expert Jennifer Parker believes that Iran’s ally China will not allow the Strait of Hormuz to be closed to oil tankers. However, Parker says Iran’s threat to block the strait – which is used to ship about 25 per cent of global oil supplies – is a "timely reminder" that Australia needs to build a much larger onshore reserve of fuel. The International Energy Agency’s protocols require nations to hold at least 90 days of oil stocks in reserve; this includes both oil that is stored domestically and fuel that is in transit. The IEA estimates that Australia has just 56 days of onshore fuel reserves, including 31 days worth of petrol.

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INTERNATIONAL ENERGY AGENCY

Renumeration Tribunal sets 2.4 per cent pay rise for federal MPs

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Original article by Jessica Wang
Herald Sun – Page: Online : 12-Jun-25

Federal politicians, department secretaries and senior public servants will receive a pay rise of 2.4 per cent from 1 July. This is in line with the inflation rate, but below the pay rises that were awarded by the Remuneration Tribunal in the previous two years. The salary package of Prime Minister Anthony Albanese will rise from about $607,471 per year to $622,050; Treasurer Jim Chalmers’ remuneration will in turn rise by $10,514 a year, to $448,625. The annual pay of other cabinet ministers will rise to $412,735.

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AUSTRALIA. REMUNERATION TRIBUNAL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY