AUSTRALIA – POLITICS AND GOVERNMENT

Labor, ACTU hose down wage fears

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 8-Mar-19

Opposition leader Bill Shorten has committed to ensuring that the minimum wage is increased to become a living wage if Labor wins the federal election. Shorten and ACTU secretary Sally McManus have both expressed support for the Fair Work Commission continuing to have responsibility for setting a living wage, as well as the timeframe for transitioning from the minimum wage. Prime Minister Scott Morrison contends that economic growth rather than increased taxes is the best way to lift wages.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Former PM Malcolm Turnbull slams Liberal Party in BBC interview

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Original article by
News.com.au – Page: Online : 8-Mar-19

Former prime minister Malcolm Turnbull has claimed in an interview with British journalist Andrew Neil that he was ousted because the Liberal Party believed that he would win the 2019 election. Turnbull maintains that the Coalition had been in a winnable position when he was ousted in August. He says public opinion polls of the time showed that support for the Coalition and Labor was evenly split, and that the Coalition was ahead in marginal seats. Turnbull adds that the Liberals can still win the election, but notes that successor Scott Morrison is faring worse than him in the polls.

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

Nat MPs ignite energy war

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Original article by Joe Kelly
The Australian – Page: 1 & 5 : 7-Mar-19

Michelle Landry and George Christensen are among six National Party MPs who have called for the federal government to press ahead with legislation to force energy companies to divest assets if they fail to reduce electricity prices. The legislation was recently put on hold, but the six Nationals MPs want it to be debated by parliament in April. They also want the government to agree to underwrite a new power generation project in regional Queensland prior to the upcoming election, and some have expressed a preference for a clean coal plant.

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

Health insurers call for workplace FBT break

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Original article by Sarah-Jane Tasker
The Australian – Page: 21 : 7-Mar-19

Private health insurance industry executives have urged the federal government to exempt employer-sponsored health insurance from the fringe benefits tax regime. Medicare CEO Craig Drummond argues that such a move would help reduce the strain on the health system, a view shared by HBF CEO John Van Der Wielen. Members Health Fund Alliance CEO Matthew Koce questions why salary packaging can include cars but not health insurance policies.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, HBF HEALTH LIMITED, MEMBERS HEALTH FUND ALLIANCE, NIB HOLDINGS LIMITED – ASX NHF, BUPA AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY

Resources boom gives government wriggle room

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Original article by David Uren
The Australian – Page: 4 : 7-Mar-19

Higher commodity prices in 2018 resulted in nominal GDP growth of 5.5 per cent for the calendar year. The mid-year Budget update in December had forecast nominal GDP growth of 4.75 per cent in 2018-19 and just 3.5 per cent in 2019-20. Treasury is likely to revise these forecasts in the April 2019 Budget, although it is expected to scale back economic growth forecasts in response to the national accounts data for the December quarter. Meanwhile, company and personal income tax revenue rose by 11.8 per cent and 7.6 per cent respectively in 2018.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA

Jail for employers exploiting workers

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

The federal goverment has expressed in-principle support for the 22 recommendations made in the report of the Migrant Workers’ Taskforce. The report found that many migrant workers are victims of wage exploitation, and recommended harsher penalties for underpayment. The government is set to announce criminal sanctions for "clear, deliberate and systemic" underpayment of works, despite opposition from employers’ groups. It also intends to establish a national labour-hire registration scheme covering industries where wage exploitation is widespread.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, 7-ELEVEN STORES PTY LTD, AUSTRALIAN LABOR PARTY

Shorten talks up living wage bid

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Original article by Ewin Hannan
The Australian – Page: 4 : 7-Mar-19

Australian Chamber of Commerce & Industry CEO James Pearson has warned that a significant increase in minimum wage would result in job losses, a reduction in hours of work for many people and business failures. He was responding to comments by Opposition Leader Bill Shorten, who has told a business summit that the minimum wage is too low and is no longer a living wage. ACTU secretary Sally McManus has again reiterated the need for a living wage.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF THE TREASURY

Veteran MPs facing a gold-plated retirement

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Original article by Richard Ferguson
The Australian – Page: 2 : 5-Mar-19

Former foreign minister Julie Bishop is among the six Liberal MPs who have chosen not to contest the 2019 election. Bishop is set to be paid more than $177,000 before tax each year in retirement, after 21 years in parliament. Liberal colleague Christopher Pyne will be paid more than $172,000 a year following a 26-year parliamentary career, while Labor’s Jennie Macklin will be entitled to an annual income of some $177,000 after 23 years in the lower house. Seven Labor MPs will retire at the election.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA

PM says it’s enterprise versus envy

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 5-Mar-19

Prime Minister Scott Morrison will tell a business summit on 5 March that the differences on economic policy between the Coalition and Labor are the greatest they have been for over 40 years. Morrison will also announce a $328 million commitment for programs aimed at preventing domestic violence and support for victims. Morrison will also tell the summit that the 2019 federal election presents a choice between "enterprise and envy".

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

Australia set to seal FTA with Indonesia

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Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 4-Mar-19

Trade Minister Simon Birmingham expects Australia’s exports to Indonesia to increase on the back of the free trade agreement between the two countries. The trade deal is due to be signed on 4 March, although it may be some months before it is ratified by parliament. Education, mining and tourism are among the Australian industries that are expected to benefit from the agreement, along with the citrus industry. Birmingham says Indonesian exports to Australia should also increase as a result of the trade deal.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY