AUSTRALIA – POLITICS AND GOVERNMENT

PM plays a long game with China, US cashes in

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 15-May-20

Prime Minister Scott Morrison says Australia will never "trade away its values" and will continue to pursue calls for an independent inquiry into the origins of COVID-19 despite China’s trade threats. The government holds the view that it is being tested by China, and that China is seeking to create division between the government and business by targeting important trade sectors such as agriculture. With China threatening 80 per cent tariffs on Australian barley, China is now allowing barley imports from the US as part of its commitment under the easing of its trade war with the Trump administration.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Don’t take away job payments: employers

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Original article by Rosie Lewis
The Australian – Page: 4 : 14-May-20

Australian Industry Group CEO Innes Willox says the $130bn JobKeeper scheme must run its full course, and it should be extended beyond the current end date of 27 September if necessary. He has also cautioned against any move to reduce the amount of the wage subsidy, which is currently $1,500 per fortnight. Some Coalition MPs argue that businesses which have resumed normal operations should no longer receive the subsidy, but Council of Small Business Organisations CEO Peter Strong suggests that such businesses should instead be allowed to opt out of the scheme.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

Birmingham: Tit-for-tat tariffs not on

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Original article by Phillip Coorey, John Kehoe
The Australian Financial Review – Page: 6 : 14-May-20

Trade Minister Simon Birmingham says China should appeal to the World Trade Organization if it is still unhappy about Australia’s decision in 2014 to impose a tariff on Chinese steel imports. He contends that China should not seek to resolve an anti-dumping dispute by imposing its own tariff on Australian barley, describing such actions as unjustified. Birmingham adds that there is no evidence to support China’s claim that Australian barley is being subsidised.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WORLD TRADE ORGANIZATION

Union backs PM over China

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Original article by Geoff Chambers, Simon Benson
The Australian – Page: 1 & 4 : 14-May-20

Prime Minister Scott Morrison has told parliament that the comprehensive strategic partnership with China has been highly successful. However, amid growing tensions between the two nations, Morrison has stressed that Australia will always act in the national interest when relations become strained. Meanwhile, the federal government’s stance on China has received support from Daniel Walton, the national secretary of the Labor-aligned Australian Workers’ Union. He has urged the government to resist pressure from China over domestic and foreign policy decisions.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN LABOR PARTY

Porter to consider EBA change limit

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 4 : 13-May-20

The Greens will back Labor’s Senate motion to disallow a regulation that temporarily reduces the notice period for changes to enterprise agreements from seven days to just 24 hours. Attorney General Christian Porter has signalled that the federal government may be open to One Nation’s proposal to limit any such variations in enterprise agreements to 12 months. The regulation is slated to expire after six months; shadow industrial relations minister Tony Burke contends that as it stands, any variations to enterprise agreements will remain in place after the pandemic abates, and they will need to be removed via another vote by employee

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, CENTRE ALLIANCE

MPs push for wage subsidy overhaul

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Original article by Rosie Lewis, Patrick Commins
The Australian – Page: 3 : 13-May-20

The federal government’s JobKeeper scheme is slated to end on 27 September, but Liberal MP Jason Falinski believes that it should be phased out sooner. He suggests that the government should consider starting to phase out out JobKeeper once all students have returned to school. Liberal MP Craig Kelly in turn contends that businesses that have resumed normal operations should no longer receive the wage subsidy, while Liberal-National Party MP Warren Entsch says industries and regions that have been hardest hit by the coronavirus-induced downturn should continue to receive the subsidy beyond September.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Bushfire recovery bill could top $2 billion: PM

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Original article by Tom McIlroy
The Australian Financial Review – Page: 10 : 12-May-20

Prime Minister Scott Morrison says that federal government spending on helping communities to recover from the impact of the summer bushfires could end up exceeding $2 billion. He has also announced another $650 million in bushfire assistance, with Morrison and Emergency Management Minister David Littleproud saying that the regions that were hit the hardest would be prioritised under the latest funding. Upwards of 16,700 applications have been approved for special small business support grants of $10,000, as well as 1,300 applications for small business grants of $50,000.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Door not shut on extending jobless aid: PM

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Original article by Geoff Chambers, Patrick Commins
The Australian – Page: 2 : 12-May-20

JP Morgan expects about one million Australians to have lost their jobs in April, lifting the unemployment rate to 8.5 per cent. Prime Minister Scott Morrison has reiterated that at present the JobKeeper wage subsidy scheme is still slated to be in place for six months. He adds that it could be extended or scaled back, depending on the pace at which the economy and the labour market recover from the pandemic. Official labour market data for April will be released on 14 May.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

‘Australians know there is no money tree’: Treasurer

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 12-May-20

Treasurer Josh Frydenberg will use his economic statement on 12 May to stress that there must be a limit to the federal government’s stimulus and assistance schemes, and they must eventually be wound back. Treasury has estimated that the government’s three-stage strategy to re-open the economy by July will boost GDP by $9.4bn a month and generate 850,000 jobs. However, Frydenberg will emphasise that this is dependent on Australians continuing to observe social distancing and hygiene measures.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

China cereal killer threat

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Original article by Phillip Coorey, Brad Thompson
The Australian Financial Review – Page: 1 & 4 : 11-May-20

China is threatening to impose tariffs of over 80 per cent on Australian barley, with the federal government given 10 days to argue why they should not be imposed. China’s threat comes after an 18-month investigation into allegations that Australia was dumping its barley in China. Farmers and grain grower groups have consistently maintained the investigation was politically motivated, while Australia has not ruled out the possibility of taking China to the World Trade Organisation over the dispute. The Chinese market was worth just under $600 million to Australian barley farmers in 2019.

CORPORATES
WORLD TRADE ORGANIZATION