AUSTRALIA – POLITICS AND GOVERNMENT

PM accuses ALP of attack on Hayne’s independence

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Original article by Rachel Baxendale
The Australian – Page: 7 : 3-Oct-18

The financial services royal commission is slated to finish its hearings by the start of February, and commissioner Kenneth Hayne indicated in its interim report that he will not seek an extension. Opposition Leader Bill Shorten has praised the royal commission for exposing misconduct in the financial services industry, but he says it should be extended to allow more people to give evidence. Prime Minister Scott Morrison says the government will extend the inquiry if Hayne asks for this.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Shorten commits: I’ll keep home affairs intact

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Original article by Rachel Baxendale
The Australian – Page: 2 : 3-Oct-18

Opposition Leader Bill Shorten has ruled out breaking up the Department of Home Affairs if Labor wins the next federal election. Labor’s left faction has called for the "super-ministry" to be dismantled, but Shorten says it will be retained unless security agencies recommend changes to its structure. Shorten adds that Labor will not unwind the policies of the current federal government simply because they were Liberal initiatives.

CORPORATES
AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

PM stares down states over GST compensation

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 3-Oct-18

Proposed changes to the formula for the distribution of goods and services tax revenue will head the agenda of a meeting of the federal and state treasurers on 3 October. Prime Minister Scott Morrison has given assurances that no state will worse off, but the eastern states are concerned that the GST reforms favour Western Australia and that they will lose more in revenue than the federal government has proposed to offer by way of compensation. Morrison has indicated that he will legislate to make the changes even if the reforms are not supported by the eastern states.

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

Shorten defies Left on security

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Original article by Simon Benson
The Australian – Page: 1 & 2 : 2-Oct-18

It is understood that Opposition Leader Bill Shorten will commit to keeping the Department of Home Affairs intact if Labor wins the next federal election. This is despite members of the party’s left and some unions wanting to see it dismantled. Shorten’s plan takes away a potential weapon from the federal government, which could have used any promise that Labor would break up Home Affairs as an opportunity to criticise it for being "soft" on border control and national security.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, MARITIME UNION OF AUSTRALIA, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor threat to derail GST distribution law

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Original article by Andrew Burrell, Matthew Denholm
The Australian – Page: 6 : 2-Oct-18

Prime Minister Scott Morrison has announced that he will introduce legislation aimed at changing the way that goods and services tax revenue is distributed. He promised that no state would be worse off under his GST plan, but shadow treasurer Chris Bowen said he is concerned that Morrison’s proposed legislation does not state explicitly that this would be the case. Similarly, the Tasmanian Government wants an "enforceable guarantee" from the federal government that it will not be worse off under the proposed changes.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, TASMANIA. DEPT OF PREMIER AND CABINET, TASMANIA. DEPT OF TREASURY AND FINANCE, NEW SOUTH WALES. THE TREASURY

Coalition ignored best ABC choices

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Original article by Stephen Brook, Rachel Baxendale
The Australian – Page: 3 : 2-Oct-18

The process for selecting ABC board members has come under scrutiny following the resignation of chairman Justin Milne. In announcing his appointment, the government had said that the independent nominations panel had recommended Milne for the role. However, former panel member Neil Brown says the panel had nominated five contenders and said they were all qualified for the role, but this had not constituted a recommendation. Brown notes that some ABC board members were also appointed despite not having been nominated by the panel. Opposition Leader Bill Shorten says the next ABC chairman must have bipartisan support.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, SPECIAL BROADCASTING SERVICE (SBS)

PM to sandbag seats with GST overhaul

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Original article by Andrew Burrell
The Australian – Page: 1 & 4 : 1-Oct-18

Prime Minister Scott Morrison is poised to announce plans for changes to the formula for distributing goods and services tax revenue. The legislation, which would provide the states and territories with an additional $7.2bn in funding, is expected to be put forward during the next session of Parliament. The changes will benefit Western Australia in particular, where the Liberal Party is in danger of losing up to five seats at the next federal election. The proposed changes will include the introduction of a GST floor of $0.70 in the dollar from 2022-23, which will increase to $0.75 in 2024-25.

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

Reality check on the big stick

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Original article by John Kehoe, James Eyers, Sarah Turner, William McInnes, James Frost
The Australian Financial Review – Page: 1 & 6 : 1-Oct-18

Prime Minister Scott Morrison says the interim report of the financial services royal commission has highlighted areas of concern that the federal government has been taking action to address in the last few years. Treasurer Josh Frydenberg adds that the report demonstrates the need for the financial services industry to improve its standards and accountability. However, he has warned against responding to the findings of the inquiry with onerous regulation that could adversely affect access to credit or undermine economic growth.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CAPITAL ECONOMICS LIMITED, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

‘Standards have deteriorated’: Malcolm Turnbull weighs in on ABC accusation

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Original article by Matthew Knott
The Sydney Morning Herald – Page: Online : 27-Sep-18

Former prime minister Malcolm Turnbull says there has been a decline in the ABC’s editorial standards in recent years. Turnbull has confirmed that he had raised concerns about the quality of the public broadcaster’s coverage with chairman Justin Milne and other members of the ABC’s board. However, he stresses that he has never complained about any perceived bias in the ABC’s coverage or requested that any ABC staffer be dismissed. Turnbull add that it is the ABC board’s responsibility to address unfair or inaccurate reporting.

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

Coalition launches inquiry into ABC email revelations as chairman Justin Milne survives board talks

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Original article by Jennifer Duke
The Sydney Morning Herald – Page: Online : 27-Sep-18

There is growing pressure for ABC chairman Justin Milne to resign in the wake of further revelations about the sacking of MD Michelle Guthrie. The federal government will investigate claims that Milne had asked Guthrie to sack the ABC’s chief economics correspondent Emma Alberici following a complaint from former prime minister Malcolm Turnbull about her political coverage. The media has reported that Milne had sent Guthrie an email stating that the government "hated" Alberici and that she must go. Labor has proposed a Senate inquiry into the revelations surrounding Guthrie’s dismissal, and it has accused the Coalition of political interference at the public broadcaster.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, FAIRFAX MEDIA LIMITED – ASX FXJ, GOOGLE INCORPORATED