AUSTRALIA – POLITICS AND GOVERNMENT

Kelty in accord with $10bn childcare vow

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Original article by Ewin Hannan
The Australian – Page: 6 : 9-May-19

Labor’s proposal to provide child care workers with a taxpayer-funded wage increase is supported by former ACTU secretary Bill Kelty. He argues that child care workers are "grossly underpaid", and the cost of the policy will not have a significant impact on wages across the economy. Kelty has also downplayed concerns that the policy would prompt employees in other sectors to seek a similar wage subsidy.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU

Final leaders’ debate: Shorten slams climate inaction as Morrison focuses on tax

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Original article by Sarah Martin
The Guardian Australia – Page: Online : 9-May-19

Climate change and tax policy are among the issues that dominated the third and final leaders’ debate on 8 May. Prime Minister Scott Morrison challenged Opposition Leader Bill Shorten to disclose the cost of Labor’s climate change policy, and stressed the need for a "responsible approach" to addressing the issue of climate change. Shorten in turn said the Coalition’s leadership instability over the last six years was due in part to its policy on climate change. Meanwhile, Morrison criticised Labor’s proposed tax reforms, arguing that higher taxes will result in slower economic growth.

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

State of the Nation – Election 2019 a photo finish

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Original article by Michele Levine
Market Research Update – Page: Online : 9-May-19

What seemed like a foregone conclusion after the Liberal Party Leadership upheaval late last year has suddenly become a competitive contest between the L-NP Government led by Prime Minister Scott Morrison and the Bill Shorten-led ALP Opposition. After Malcolm Turnbull was ‘turfed out’ from his job as Prime Minister in August 2018, and replaced by the then largely unknown among the public Scott Morrison, the Roy Morgan Poll showed the ALP two-party preferred vote spiking to what seemed an unbeatable lead with the Federal Election set to be called within the next few months: ALP 58% cf. L-NP 42% (October 2018). Following the leadership change former Prime Minister Malcolm Turnbull immediately resigned from his seat of Wentworth causing a by-election in his seat which was won by Independent candidate Dr. Kerryn Phelps, and Liberal MP Julia Banks resigned from the Government and joined the cross-bench. At this time the Morrison Government was beset by instability and appeared to be on the verge of collapse at any moment. Many media commentators (from afar) advised new Prime Minister Morrison to call an early Federal Election to put the political uncertainty to rest. As we now know PM Morrison ignored these calls and pledged to take the Government ‘full-term’ until May 2019, which he has done, and the last three Roy Morgan Polls conducted since mid-April 2019 show a very close contest with the ALP just ahead: ALP 51% cf. L-NP 49%. A number of key factors will determine who wins this year’s Federal Election.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, MORGAN POLL, ROY MORGAN LIMITED

ABC boss busy playing politics

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Original article by Lilly Vitorovich
The Australian – Page: 4 : 8-May-19

The ABC’s MD David Anderson recently rejected claims of political bias at the public broadcaster. However, former chairman Maurice Newman says it was inappropriate for Anderson to use his first interview in his new role to suggest that if electors care for the ABC, they should not vote for the Coalition on 18 May. Anderson warned that the ABC will need to reduce its services due to the funding freeze in the May 2019 Budget.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Plan to silence enemies in media

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Original article by Chris Merritt
The Australian – Page: 8 : 8-May-19

Media lawyer Kevin Lynch says the Australian Greens’ communications policy appears to be targeting the party’s real or perceived enemies in the media sector. Amongst other things, the policy advocates an inquiry to address the issue of media concentration and the introduction of a public interest veto regarding acquisitions in the sector. Greens leader Richard Di Natale has also confirmed that the party’s proposal for new criminal laws on hate speech is aimed at the broader media industry rather than just the three broadcasters who have been named.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN LABOR PARTY

We can withstand a downturn: Frydenberg

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 8-May-19

Treasurer Josh Frydenberg is confident that the Australian economy would be resilient in the event of a significant downturn in the global economy. Frydenberg notes amongst other things that the tax cuts in the April 2019 Budget will boost consumer spending and economic activity, and he believes that the Coalition’s policy settings are sufficient without having to pursue stimulatory measures such as bringing forward the full tax cuts package. Frydenberg also dismisses suggestions that legislating the tax cuts is the Coalition’s only real policy agenda.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, CENTRE ALLIANCE, NATIONAL PARTY OF AUSTRALIA, ADANI MINING PTY LTD

No guarantee for PM’s $158b income tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 8-May-19

The support of Senate crossbenchers may be crucial for the government to pass its signature tax cuts package if it wins the federal election. Centre Alliance has committed to supporting the first two stages of the tax cuts, although Senator Griff Stirling has indicated that the party may be open to backing the third stage. Senate aspirant Clive Palmer says his party’s support for the tax cuts is subject to several conditions. The government may have to split the tax bill to secure its passage through the upper house, given that Labor supports only the stage one tax cuts.

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

Childcare pay rise a carrot for union

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Original article by Rick Morton
The Australian – Page: 4 : 7-May-19

Shadow treasurer Chris Bowen has defended Labor’s proposal to provide early childhood educators with a taxpayer-funded pay rise, saying the policy has been costed by the Parliamentary Budget Office. Treasury Josh Frydenberg in turn has argued that the policy has been costed on giving a pay rise to 100,000 child care workers, whereas the sector employs 195,000 people. He has claimed that the policy is merely aimed at increasing union membership.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Labor weighs boosting union powers

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 7-May-19

Shadow workplace relations minister Brendan O’Connor has indicated that unions’ right to entry laws could be relaxed if Labor wins the federal election. The reforms could include recommendations made in the Boland review of workplace safety laws; amongst other things, the review proposed waiving the need for a union official to have a workplace entry permit if the visit is related to industrial safety. This would benefit the Construction, Forestry, Maritime, Mining & Energy Union; some of its officials have been denied entry permits under the Fair Work Act’s ‘fit and proper person’ test.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, HERBERT SMITH FREEHILLS PTY LTD, MASTER BUILDERS AUSTRALIA INCORPORATED, SAFE WORK AUSTRALIA

Rate cut will be little help, says Westpac

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Original article by James Eyers, James Frost
The Australian Financial Review – Page: 1 & 17 : 7-May-19

The futures market has priced in a 38 per cent chance that the Reserve Bank will reduce the cash rate on 7 May. Westpac CEO Brian Hartzer warns that a rate cut will have limited impact on economic growth and consumer spending, given that the cash rate is already at a historic low. He argues that government spending has been a key driver of economic growth, but the political debates needs to have a greater focus on measures that will drive private sector growth and investment. Shadow treasurer Chris Bowen says the fact that interest rates could potentially fall further demonstrates the "real concern" about the economy under the Coalition.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN LABOR PARTY, JP MORGAN AUSTRALIA LIMITED, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, CLIME ASSET MANAGEMENT PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT