AUSTRALIA – POLITICS AND GOVERNMENT

Tax cuts offset low wages: Libs

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Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 25-Mar-19

The federal government’s April 2019 Budget is expected to include an election sweetener in the form of billions of dollars worth of income tax cuts, in addition to those that were legislated in 2018. Liberal senator Arthur Sinodinos says tax cuts that target low and middle-income earners will provide some relief from the rising cost of living until wages begin growing. However, shadow treasurer Chris Bowen argues that tax cuts are not a substitute for wages growth, adding that Labor’s policy will provide greater tax relief for people on low and middle incomes.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Mediscare campaign aimed at marginals

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Original article by Ben Packham
The Australian – Page: 2 : 25-Mar-19

Opposition Leader Bill Shorten has advised that Labor will resume indexation of some Medicare benefits from July if it wins the federal election. Labor imposed the Medicare freeze in 2013, and it has been extended twice by the Coalition government. Shorten has indicated that the health system will be Labor’s top priority at the upcoming poll. He claims that the Liberals’ spending cuts mean that Australians are now paying more than ever to see a GP or a specialist. The Medicare freeze was slated to remain in place until July 2020.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA

Gladys triumph: PM eyes May 11

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Original article by Simon Benson, Ben Packham
The Australian – Page: 1 & 4 : 25-Mar-19

The New South Wales government is set to retain office with a majority of up to two seats after gaining 42.7 per cent of the primary vote in the state election on 23 March. Labor’s primary vote was 33 per cent, while the Shooters, Fishers & Farmers Party won two seats from the National Party in regional and rural areas. Meanwhile, the federal government is expected to hold an election on 11 May, with a five-week election campaign likely to be announced days after the Budget on 2 April. Sources have indicated that the government will seek to shore up support in regional and rural areas by including a regional ­economic development package in the Budget.

CORPORATES
AUSTRALIAN LABOR PARTY, SHOOTERS, FISHERS AND FARMERS PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, NATIONAL IRRIGATORS COUNCIL LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PM, Nats work on coal peace plan

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Original article by Phillip Coorey, Aaron Patrick
The Australian Financial Review – Page: 1 & 7 : 25-Mar-19

The National Party performed poorly in the New South Wales election on 23 March. This appears likely to re-ignite tensions within the Coalition at the federal level over issues such as coal-fired power stations, with former Nationals leader Barnaby Joyce calling for the federal government to support coal-fired power stations. Prime Minister Scott Morrison and Nationals leader Michael McCormack are understood to be working on a "peace deal" over the issue.

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

Labor push on minimum wage will hurt those it’s meant to help

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Original article by Kurt Wallace
The Australian – Page: 14 : 22-Mar-19

Opposition Leader Bill Shorten has committed to raising the minimum wage to become a "living wage" if Labor wins the 2019 election. The ACTU has stated that a living wage is needed so that no full-time worker is living in poverty, but under its definition of what is poor, someone earning $42,000 a year would be deemed to be living in poverty; many would take issue at this definition. Research based on the annual Household, Income and Labour Dynamics in Australia survey suggests that poverty is on the decline, while introducing a living wage will result in less jobs and fewer hours worked.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. FAIR WORK COMMISSION, INSTITUTE OF PUBLIC AFFAIRS LIMITED, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Labor’s climate of catastrophe

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Original article by John Anderson
The Australian – Page: 14 : 21-Mar-19

Australia accounts for just 1.15 per cent of global greenhouse gas emissions, yet the nation is set to exceed its 2020 abatement target by 367 million tonnes. Meanwhile, global emissions are increasing at a rate of about two per cent annually. Labor’s proposal to reduce Australia’s carbon emissions by 45 per cent will in fact increase global emissions, as it will force industries such as aluminium manufacturing to shift production to countries that have lower efficiency standards. Labor’s policy would also have a much bigger negative impact on Australia’s GDP than the Coalition’s target of reducing greenhouse gas emissions by about 27 per cent.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE

Morrison includes telcos in social media crackdown

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Original article by Paul Smith
The Australian Financial Review – Page: 9 : 21-Mar-19

The federal government will meet with representatives of ISPs and digital platforms on 26 March to discuss measures to prevent the distribution of objectionable content. Social media companies have come under scrutiny after their platforms were used to live-stream the Christchurch mosque shootings, and they were initially expected to be the focus of the government’s talks. However, representatives of Telstra, Optus and Vodafone will also attend the meeting in Brisbane. The telcos have announced that they will block access to footage of the mosque attacks.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, VODAFONE AUSTRALIA LIMITED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

SQM urges phasing in of gearing reforms

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Original article by Michael Bleby
The Australian Financial Review – Page: 35 & 38 : 21-Mar-19

SQM Research MD Louis Christopher says Labor should implement its proposed negative gearing and capital gains tax reforms gradually if it wins the federal election, to avoid a "shock" to the broader economy. Research by SQM suggests that Labor’s reforms could potentially result in a 12 per cent decline in residential property prices over three years, while rents could rise sharply as supply is reduced. SQM adds that two official interest rate cuts by January 2020 would see housing prices fall by just 4-8 over three years, as well as lower rent increases.

CORPORATES
SQM RESEARCH PTY LTD, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Turkey threatens Anzac ties

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Original article by Simon Benson, Ben Packham
The Australian – Page: 1 & 9 : 21-Mar-19

The federal government has not ruled out severing diplomatic ties with Turkey in the wake of inflammatory comments by President Recep Tayyip Erdogan. Prime Minister Scott Morrison has requested urgent talks with Turkey’s ambassador to Australia, and he has demanded an apology after Erdogan said Australian tourists could return home in coffins in reprisal for the Christchurch mosque attacks. The diplomatic row has cast doubt on future Gallipoli commemorations and heightened concerns about the safety of Australians who travel to Turkey for the upcoming ANZAC Day service.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Migration cuts won’t harm economy: PM

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 21-Mar-19

Prime Minister Scott Morrison has downplayed concerns that a new cap on Australia’s permanent migrant intake will have an impact on economic growth. Business Council of Australia CEO Jennifer Westacott and Australia Industry Group CEO Innes Willox are among the business leaders who have warned that cutting the migrant intake could impact on the economy. Morrison argues that the larger cut advocated by some cabinet ministers would have had an effect on economic growth.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN LABOR PARTY, ONE NATION PARTY