AUSTRALIA – POLITICS AND GOVERNMENT

Fair Work boss sidelines Coalition appointees

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 1 & 6 : 15-Jan-19

The federal government appointed six new deputy presidents to the Fair Work Commission in late 2018. Such appointees traditionally hear full bench cases, but FWC president Iain Ross has told members of the commission that most of the deputy presidents will only handle relatively minor matters such as conciliation work. The majority of the new appointees have an employer background, which prompted Labor to accuse the government of "stacking" the FWC.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, ACTU, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), BHP GROUP LIMITED – ASX BHP, EXXONMOBIL AUSTRALIA PTY LTD, THE NATIONAL ELECTRICAL CONTRACTORS’ ASSOCIATION, NSW BUSINESS CHAMBER LIMITED, AUSTRALIAN BUSINESS LIMITED, CORRS CHAMBERS WESTGARTH

Australia Day ceremonies to be made compulsory

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Original article by Greg Brown
The Australian – Page: Online : 14-Jan-19

Prime Minister Scott Morrison will force local councils to hold citizenship ceremonies on Australia Day, while he will also introduce a dress code for ceremonies. Morrison has rejected Labor leader Bill Shorten’s claim that the government was trying to politicise Australia Day, with his action following the decision of some councils not to hold citizenship ceremonies on Australia Day out of respect to indigenous Australians. Shorten noted that 530 of Australia’s 537 councils hold citizenship ceremonies on Australia Day, while he said he had no plans to change Australia Day from 26 January if Labor wins the next election.

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

Labor slams attack on union super

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Original article by John Kehoe, Joanna Mather, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 11-Jan-19

Shadow treasurer Chris Bowen has criticised the Productivity Commission’s proposed changes to the default superannuation fund regime. He says restricting the default fund to a list of the 10-best performing funds is problematic, as returns can vary significantly over a period of time. The PC’s key recommendation is opposed by labour unions, while the Financial Services Council and the Association of Superannuation Funds of Australia have also expressed reservations. However, Treasurer Josh Frydenberg says the proposal has merit and is worth considering.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, FINANCIAL SERVICES COUNCIL, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL OF SUPERANNUATION CUSTODIANS, SUPERANNUATION CONSUMERS’ CENTRE, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC

Slowdown threatens budget surplus

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Original article by John Kehoe
The Australian Financial Review – Page: 3 : 10-Jan-19

Fitch Solutions has cast doubt upon the federal government’s timetable for a return to a Budget surplus. The government expects a surplus equivalent to 0.2 per cent of GDP in 2019-20, but Fitch has forecast that factors such as slowing economic growth will result in a deficit equivalent to 0.1 per cent of GDP for the financial year. The firm warns that increased government spending and slowing global economic growth will also delay the return to a surplus. Fitch’s forecast of a 2018-19 deficit equivalent to 0.3 per cent of GDP is in line with the government’s projections.

CORPORATES
FITCH SOLUTIONS, FITCH RATINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, UBS HOLDINGS PTY LTD, DELOITTE ACCESS ECONOMICS PTY LTD, RESERVE BANK OF AUSTRALIA

Leyonhjelm to quit Senate for state

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Original article by Rosie Lewis
The Australian – Page: 2 : 8-Jan-19

The Liberal Democrats have yet to decide who will replace David Leyonhjelm on its Senate ticket for the upcoming federal election. Leyonhjelm has announced that he will not seek a third term in the Senate and will instead contest a seat in the New South Wales upper house at the state election in March. He will run against One Nation candidate Mark Latham, who resigned his membership of the Liberal Democrats in September. Leyonhjelm says he is now more interested in state rather than federal issues.

CORPORATES
LIBERAL DEMOCRATIC PARTY, ONE NATION PARTY, AUSTRALIAN LABOR PARTY, SHOOTERS, FISHERS AND FARMERS PARTY, CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), AUSTRALIAN BROADCASTING CORPORATION

Labor plans overhaul of job welfare

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Original article by Rick Morton
The Australian – Page: 1 & 4 : 8-Jan-19

The Business Council of Australia and the Council of Small Business of Australia support Labor’s proposal for changes to the Jobactive system if it wins the 2019 federal election. Amongst other things, Labor will relax the requirement that unemployed people must apply for up to 20 jobs a month. The BCA argues that this creates an unnecessary cost for both businesses and job-seekers, as employers receive many application from people who are not qualified for a job. Labor may also make changes to the ‘Work for the Dole’ scheme.

CORPORATES
AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK

Million face tax sting under Shorten

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Original article by Adam Creighton, Rosie Lewis
The Australian – Page: 1 & 2 : 8-Jan-19

The Treasury estimates that about 580,000 Australians will pay the highest marginal income tax rate in 2018-19. However, modelling by the Treasury suggests that this could rise to nearly 1.1 million by 2025 if Labor wins the federal election and proceeds with plans to scrap the Coalition’s proposed increase in the threshold for the top tax rate from $180,000 to $200,000 in 2024-25. The modelling also shows that the number of people in the highest tax bracket would rise to 820,000 by 2024-25 under a Coalition government.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

MPs to monitor foreign interference threats

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Original article by Tom McIlroy
The Australian Financial Review – Page: 4 : 7-Jan-19

James McGrath says the joint standing committee on electoral matters will continue with its efforts to ensure that Australia’s electoral system remains free from foreign interference. McGrath is the chairman of the committee, and he says there has been no evidence to date of such interference, but that the need to be vigilant on such matters remains important. He says cyber interference has the potential to undermine confidence in Australian democracy.

CORPORATES
AUSTRALIA. JOINT STANDING COMMITTEE ON ELECTORAL MATTERS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Labor creating a rental famine

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Original article by Greg Brown
The Australian – Page: 2 : 7-Jan-19

Liberal senator Dean Smith contends that young Australians would be most affected by Labor’s proposed changes to negative gearing. With 2.1 million renters aged between 20 and 34 in Australia, Smith says Labor’s plans represent an opportunity for the federal government to portray itself as a better option for voters in this age group. Shadow treasurer Chris Bowen says he would be happy to have a debate on whether Labor or the Coalition has the best housing policies for young people.

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

Red light flashing over fuel security

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Original article by Primrose Riordan
The Australian – Page: 1 & 4 : 7-Jan-19

There is growing concern about Australia’s limited onshore fuel stockpiles, with experts warning that it is less prepared than other developed nations for an international crisis that would affect fuel supplies. Data from the Department of Energy shows that Australia’s petrol stockpile would last 22 days, while the diesel fuel supply would be exhausted in just 17 days. In contrast, the International Energy Agency recommends that nations have a fuel stockpile equivalent to 90 days. The federal government has been criticised for delaying a review of Australia’s fuel stockpiles.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, INTERNATIONAL ENERGY AGENCY, LIBERAL PARTY OF AUSTRALIA, DEAKIN UNIVERSITY, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. DEPT OF DEFENCE