AUSTRALIA – POLITICS AND GOVERNMENT

IR reform urgent for economy

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Original article by Rosie Lewis
The Australian – Page: 1 & 4 : 8-Jul-19

Business leaders have identified changes to the industrial relations system as a priority for the federal government following the passage of its income tax cuts package. Australian Industry Group CEO Innes Willox and Australian Resources & Energy Group CEO Steve Knott say the reform agenda should include changes to the ‘better off overall test’ for enterprise agreements, passing the Ensuring Integrity Bill and Proper Use of Worker Benefits Bill, and a review of unfair dismissal and adverse action laws. They argue that major changes to the Fair Work Act are not necessary.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN RESOURCES AND ENERGY GROUP, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. FAIR WORK COMMISSION

$15bn kickstart for economy

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Original article by Geoff Chambers, Adam Creighton, Greg Brown, Michael Roddan
The Australian – Page: 1 & 4 : 5-Jul-19

Harvey Norman executive chairman Gerry Harvey says the federal government’s income tax cuts will boost the retail sector and consumer spending. The tax cuts have also been welcomed by Business Council of Australia CEO Jennifer Westacott, who says further action is needed to ensure long-term economic growth. Meanwhile, Chris Richardson of Deloitte Access Economics expects the tax cuts to have a bigger impact in the near-term than the recent interest rate cuts. Labor agreed to back the full tax package in the Senate after its proposal to bring forward the stage-two cuts and legislate stage three separately was rejected.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, BUSINESS COUNCIL OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN TAXATION OFFICE, ONE NATION PARTY, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

Open banking delayed due to data concerns

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 4-Jul-19

The federal government’s open banking regime is slated to begin on 1 February 2020, although this will require the Consumer Data Right bill to be passed by the end of July. Shadow financial services minister Stephen Jones says Labor has some concerns about how customers’ data is used and retained under the new regime, which will need to be addressed if Labor is to support the legislation. Jones has questioned whether there will be sufficient time to pass the bill before parliament rises for the winter break.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, MACQUARIE GROUP LIMITED – ASX MQG

Media bosses in dark on charges

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Original article by Rosie Lewis
The Australian – Page: 4 : 4-Jul-19

Attorney-General Christian Porter and Communications Minister Paul Fletcher held talks with media industry representatives on 3 July. The meeting failed to ease the media sector’s concerns about Australian Federal Police raids on the ABC’s Sydney office and the home of a News Corp Australia journalist in early June, and whether journalists will face prosecution as a result of the raids. Media executives have also expressed reservations about the government’s plans for the parliamentary joint committee on intelligence and security to hold an inquiry into press freedom.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SPECIAL BROADCASTING SERVICE (SBS), FREE TV AUSTRALIA LIMITED, AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE

PM wins battle over tax cuts

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Original article by Simon Benson, Rosie Lewis
The Australian – Page: 1 & 4 : 4-Jul-19

Senior federal government sources have indicated that independent senator Jacqui Lambie has agreed to support the Coalition’s full income tax cuts package. Lambie had pushed for the government to waive the $157m public housing debt of her home state of Tasmania in return for backing the tax bill. Fellow independent Cory Bernardi and Centre Alliance’s Rex Patrick and Stirling Griff will also support the full tax package, giving the Coalition sufficient numbers in the Senate to pass it. Labor will decide its stance on the tax package before it is put before the Senate on 4 July.

CORPORATES
CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, ONE NATION PARTY

Labor fails to change tax cuts timetable

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Original article by Geoff Chambers
The Australian – Page: 5 : 3-Jul-19

The federal government has rejected Labor’s proposed amendments to its income tax package that would have brought forward the second stage of the tax cuts. Labor’s push to exclude the third-stage tax cuts from the package and to accelerate investment in infrastructure was also defeated in the lower house. Shadow treasurer Jim Chalmers says the Reserve Bank’s latest interest rate cut demonstrates the need for more economic stimulus. The Coalition requires the support of four crossbenchers to pass the full tax package in the Senate, and it is confident of doing so.

CORPORATES
AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, CENTRE ALLIANCE

Press freedom probe backed

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Original article by Rosie Lewis, Zoe Samios
The Australian – Page: 2 : 3-Jul-19

The parliamentary joint committee on intelligence and security will undertake an inquiry into the impact of police and intelligence agencies’ powers on freedom of the press. The inquiry was approved by federal cabinet on 2 July, and follows the recent police raids on the ABC’s offices and the home of a News Corp Australia journalist. Labor proposes to establish a separate inquiry into press freedom and the public’s right to know, while media companies advocate changes to laws affecting freedom of the press rather than a parliamentary inquiry.

CORPORATES
AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Government Confidence jumps after L-NP win Election

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jul-19

Roy Morgan’s Government Confidence Rating has increased by 11.5pts to 104.5 following the L-NP’s victory at the Federal Election in mid-May. Interviewing conducted on the weekends of 22-23 and 29-30 June 2019 shows that 43.5% (up 6%) of electors now say that Australia is heading in the ‘right direction’, and 39% (down 5.5%) say Australia is heading in the ‘wrong direction’. The turnaround in Government Confidence since the Federal Election has been driven by strong increases in Government Confidence amongst a number of key demographics, including L-NP supporters and supporters of Independents/Others, electors in Country Areas, electors in Queensland and Western Australia, electors aged 50+ and electors of both genders. However, Government Confidence amongst ALP supporters has fallen 14.5pts to 84 after the party lost an election most Australians expected it to win.

CORPORATES
ROY MORGAN LIMITED

Embrace Pacific power role

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Original article by Ben Packham
The Australian – Page: 1 & 5 : 2-Jul-19

The new US ambassador to Australia, Arthur ­Culvahouse, says there would be no question of the US not coming to Australia’s aid if the latter was being threatened by a foreign power. Culvahouse says Australia has a lot of standing in the Pacific region, while he says he is confident that Prime Minister Scott Morrison will continue to "call out" bad behaviour by China when he sees it. Culvahouse says that while many Australians know that China is its biggest trading partner, not so many realise that the US is by a long way Australia’s biggest and most important economic partner.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Tax cut row blunting attacks, ALP MPs warn

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Original article by Geoff Chambers, Rosie Lewis
The Australian – Page: 1 & 4 : 2-Jul-19

The federal government will introduce its income tax cuts package to the lower house on 2 July before putting it to the Senate, where the Coalition needs the support of four crossbenchers if it is opposed by Labor and the Greens. Centre Alliance is open to supporting the tax package if the government agrees to measures aimed at addressing the issue of high domestic gas prices, while independent senator Jacqui Lambie may also be open to backing the tax cuts. Meanwhile, shadow treasurer Jim Chalmers says Labor may be willing to support the tax package if the Senate rejects its proposed amendments to the bill.

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