AUSTRALIA – POLITICS AND GOVERNMENT

State revenues under threat: PM

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Original article by Primrose Riordan, Ben Packham, Ben Wilmot
The Australian – Page: 6 : 1-May-19

Prime Minister Scott Morrison says Labor’s proposed changes to the negative gearing and capital gains tax regimes could result in lower GST and stamp duty revenue for state governments. He added that the states should seek a guarantee from Labor that its reforms would not affect their revenue. Shadow treasurer Chris Bowen in turn has blamed the Coalition for the housing market downturn, which has reduced state governments’ stamp duty revenue.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA, STOCKLAND – ASX SGP, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, HOUSING INDUSTRY ASSOCIATION LIMITED, MASTER BUILDERS AUSTRALIA INCORPORATED

Greens stir Gillard ghosts

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

Australian Greens leader Richard Di Natale will use a National Press Club speech on 1 May to urge Labor to form a coalition with the minor party to address the issue of climate change. Former prime minister Julia Gillard struck a similar alliance with the Greens to form a minority government after the 2010 election. The Greens have questioned Labor’s proposal to use international carbon credits as part of its target of reducing carbon emissions by 45 per cent on 2005 levels by 2030.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED AUSTRALIA PARTY, NATIONAL PARTY OF AUSTRALIA, ONE NATION PARTY, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, NATIONAL PRESS CLUB (AUSTRALIA)

Climate policy impossible to cost: ALP

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 1-May-19

Labor’s climate change spokesman Mark Butler says it cannot estimate how much its carbon emissions reduction policy will cost the business sector. He argues that this is because Labor will not impose a direct carbon price on businesses. However, the Coalition claims that Labor’s policy would cost businesses between $27.5bn and $35bn. A senior industry economist argues that the lack of detail regarding Labor’s policy means that no accurate estimate of its cost can be made prior to the election.

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

Parties locked in close contest for second week: ALP 51% cf. L-NP 49%

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-Apr-19

For the second straight week the Roy Morgan Poll shows the two major parties locked in a tight contest with a slight edge to the ALP 51% cf. L-NP 49% on a two-party preferred basis, according to a face-to-face survey conducted on the weekend of April 27/28, 2019 with a representative cross-section of 826 Australian electors. Both major parties managed to increase their primary votes this week at the expense of Pauline Hanson’s One Nation, but there was no change to the close overall two-party preferred result ahead of the first Leaders’ Debate between Prime Minister Scott Morrison and Opposition Leader Bill Shorten in Perth. The L-NP primary vote was up 0.5% to 39.5% from a week ago compared to the ALP on 36% (up 0.5%). Support for the Greens was unchanged at 9.5% while support for One Nation fell 2% to 2.5%. Support for Clive Palmer’s United Australia Party (UAP) was unchanged on 2% while support for Independents/Others was up 1% to 10.5%.

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

Politicians silent on inflation target change

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Original article by Matthew Cranston
The Australian Financial Review – Page: 4 : 30-Apr-19

The need for the Reserve Bank’s inflation target continues to attract scrutiny, given that inflation remains well below its target range of 2-3 per cent. Warren Hogan and David Bassanesse are among the economists who believe that the central bank should revise its inflation target, although Westpac’s Bill Evans argues that doing so would have an impact on inflation expectations. Treasurer Josh Frydenberg and shadow treasurer Chris Bowen have declined to comment on the prospect of government intervention regarding the inflation target after the federal election.

CORPORATES
RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF TECHNOLOGY, SYDNEY, BETASHARES CAPITAL LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AMP CAPITAL INVESTORS LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Priceless: Bill’s climate costs

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Original article by Simon Benson, Joe Kelly, Ben Packham, Greg Brown
The Australian – Page: 1 & 4 : 30-Apr-19

Opposition Leader Bill Shorten says it is not possible to put a single price on the cost of Labor’s carbon emission reduction targets. Shorten was speaking during the first leaders’ debate on 29 April. Prime Minister Scott Morrison said the Coalition deserves to be returned to office on the basis of its economic performance, while he noted its commitment to create 100,000 jobs for young Australians. The debate was held in front of 48 undecided voters in the Seven West Media studio in Perth; 25 stated that they thought Shorten won the debate, 12 said Morrison had won and 11 were undecided

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM

Game on – Game won?

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Original article by Gary Morgan, Michele Levine
Market Research Update – Page: Online : 29-Apr-19

Last Tuesday April 23, Roy Morgan Poll published ‘Game On: Easter Roy Morgan Poll shows election race tightening: ALP 51% cf. L-NP 49% on a two-party preferred basis’. The face-to-face Roy Morgan Poll was conducted on the weekend of April 20/21, 2019 with a cross-section of 707 electors. The latest Newspoll, published in ‘The Australian’ on Monday April 29, also shows Labor leading the L-NP 51% to 49% on a two-party preferred basis.

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

Labor’s penalty rates a triple hit for retailers

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 29-Apr-19

Labor will seek to reverse cuts to Sunday penalty rates within 100 days if it wins the federal election. The Australian Retailers Association has estimated that this would see wages rise by as much as 21 per cent for weekend workers. Cuts to Sunday and public holiday penalty rates are being phased in over four years by the Fair Work Commission to ease the impact on employees, but shadow Employment Minister Brendan O’Connor says it will reverse the cuts "in a single hit". Employers’ groups have called for greater consultation over Labor’s plans, while employment law professor Andrew Stewart has cautioned Labor about trying to rush legislation on the issue.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIA. FAIR WORK COMMISSION, UNIVERSITY OF ADELAIDE, THE AUSTRALIAN INDUSTRY GROUP

Shorten’s pledge to business

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 26-Apr-19

Opposition leader Bill Shorten says the federal election contest has become one of "hope versus fear". He says the federal government appears to be solely focused on attacking Labor’s policies, and has nothing to offer itself. Shorten says he intends to convene a summit on the economy and wages within the first 100 days of a Labor government, while he says Labor has no plans to change its policies in areas like industrial relations and company taxes. Shorten adds that Labor wants to work with business, while he will not be beholden to the union movement.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, INFRASTRUCTURE AUSTRALIA

Coalition go-ahead for giant U-mine

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Original article by Nick Evans
The Australian – Page: 1 & 2 : 26-Apr-19

The Supreme Court of Western Australia has not released its ruling on a legal challenge to the state government’s decision to approve Cameco’s Yeelirrie uranium mine. However, it has been revealed that federal Environment Minister Melissa Price approved the project one day before the election was called. Mia Pepper, a spokeswoman for the Conservation Council of WA, has described Price’s decision to approve the mine as
"premature and highly political".

CORPORATES
CAMECO CORPORATION, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, SUPREME COURT OF WESTERN AUSTRALIA, CONSERVATION COUNCIL OF WESTERN AUSTRALIA INCORPORATED, WESTERN AUSTRALIA. DEPT OF WATER AND ENVIRONMENTAL REGULATION, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, ADANI MINING PTY LTD, BHP GROUP LIMITED – ASX BHP