AUSTRALIA – POLITICS AND GOVERNMENT

Greens call for government energy retailer

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Original article by Andrew Tillett
The Australian Financial Review – Page: 9 : 26-Sep-18

The Australian Greens will propose increased government intervention in the electricity market to put downward pressure on prices, including the creation of a publicly-owned electricity retailer. Greens leader Richard Di Natale estimates that a taxpayer-funded electricity retailer could be established at cost of just $85m, while using it could save consumers around $200 a year on power costs. Di Natale will also advocate greater government intervention in other sectors in a National Press Club speech on 26 September.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, NATIONAL PRESS CLUB (AUSTRALIA), SNOWY HYDRO LIMITED, RED ENERGY PTY LTD, LUMO ENERGY AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Surplus in sight ahead of election

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Original article by David Uren, Rick Morton
The Australian – Page: 1 & 2 : 26-Sep-18

The Treasury has released figures showing that the Budget deficit for 2017-18 was $10.1bn, which equates to just 0.6 per cent of GDP. Treasury had forecast in May that the deficit for 2017-18 would be $18.2bn, and the initial forecast in the May 2017 Budget was for a deficit of $29.1bn. Factors such as jobs growth, a higher tax take and reduced government spending contributed to the improvement in the Budget position from a deficit of $33.2bn in 2016-17. However, Treasurer Josh Frydenberg has downplayed suggestions of a potential return to surplus in 2018-19.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, DELOITTE ACCESS ECONOMICS PTY LTD, UBS HOLDINGS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF SOCIAL SERVICES

Coalition picks spend over surplus

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 25-Sep-18

The federal government will release the final Budget figures for 2017-18 on 25 September, which are expected to show that the deficit for the financial year was around $10bn. The government is set to retain its target date of 2019-20 for a return to a surplus, and sources have indicated that an earlier return to surplus is possible but unlikely. The government has announced additional expenditure of $3.8bn over four years since handing down the May 2018 Budget, and around $20bn over the next decade.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY

Schools row ends with $4.5bn deal

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 21-Sep-18

The federal government has agreed to increase taxpayer funding for Catholic and independent schools by more than $4.5bn, after funding was reduced under the "Gonski 2.0" school funding reforms. Catholic schools will receive a $4.3bn increase in funding over 10 years, while independent schools will receive an additional $259m. Stephen Elder, the executive director of the Catholic Education Commission of Victoria, says the funding cuts under the Gonski 2.0 reforms would have forced Catholic schools to close or significantly increase their fees.

CORPORATES
CATHOLIC EDUCATION COMMISSION OF VICTORIA LIMITED, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, INDEPENDENT SCHOOLS COUNCIL OF AUSTRALIA

PM ups the ante on small biz tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 21-Sep-18

Federal government sources have indicated that the Coalition is likely to seek to pass legislation prior to the next election aimed at bringing forward tax cuts for businesses with turnover of up to $50m. The tax relief for small businesses has already been legislated, but additional legislation would be required for the cuts to take effect earlier than 2026-27. Labor opposes a further reduction in the small business tax rate, but it could face the prospect of having to go into the election with a policy of reversing the additional tax cuts.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CENTRE ALLIANCE, ONE NATION PARTY

Taylor-made package to prolong coal power

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Original article by Samantha Hutchinson
The Australian – Page: 5 : 20-Sep-18

Sources have indicated that the federal government’s new energy policy may include assistance for companies to upgrade existing coal-fired power stations. Energy Minister Angus Taylor has stressed that ensuring the reliability of Australia’s baseload power supply is the government’s key priority. This could potentially include measures aimed at extending the operating lives of existing coal-fired plants or investing in new ones.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AGL ENERGY LIMITED – ASX AGL

Fruit crisis: PM gets tough with 15 years’ prison

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Original article by Richard Ferguson, Greg Brown
The Australian – Page: 7 : 20-Sep-18

The federal government wants to increase the maximum penalty for contaminating food with the intent of causing injury from 10 years to 15 in response to the crisis affecting the nation’s strawberry industry. The Australian Federal Police and the Australian Border Force are working with state police forces to investigate the growing number of reports of fruit tampering, although some are believed to be hoaxes. In addition to strawberries, there have been reports that sewing needles have been found in apples and bananas. Opposition Leader Bill Shorten has indicated that Labor will support the proposed reforms.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN BORDER FORCE, AUSTRALIA. DEPT OF HOME AFFAIRS, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS GROUP LIMITED – ASX WOW

Gig workers oppose Labor’s job proposals

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 20-Sep-18

A Senate committee has released a report which has recommended greater regulation of the gig economy in order to protect workers in the sector. Amongst other things, the inquiry into the future of work has recommended broadening the definition of an employee to include workers in the gig economy, who are generally regarded as independent contractors. However, some people who work as ride-sharing drivers say the flexibility of their working hours is a key attraction and they will quit the sector if there is any change to their employment status.

CORPORATES
AUSTRALIAN LABOR PARTY, UBER AUSTRALIA PTY LTD, TAXIFY, RIDE SHARE DRIVERS ASSOCIATION OF AUSTRALIA

Labor urges Senate censure of Dutton

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Original article by Rosie Lewis
The Australian – Page: 5 : 20-Sep-18

Greens MP Adam Bandt will push for a no-confidence motion against Home Affairs Minister Peter Dutton over his intervention in the issuance of visas to two au pairs. This follows a Senate committee’s recommendation that the upper house should consider a censure motion against Dutton over his role in the scandal. Labor and Greens members of the committee have alleged that Dutton deliberately misled parliament regarding the controversy, a view that has been rejected by Coalition members of the committee.

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

Stokes rejects ABC: I didn’t plot to oust PM

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Original article by Darren Davidson, Sam Buckingham-Jones
The Australian – Page: 1 & 4 : 20-Sep-18

Seven West Media chairman Kerry Stokes has refuted suggestions that himself and fellow media magnate Rupert Murdoch had any role in the demise of former prime minister Malcolm Turnbull. The ABC has claimed in reports on its evening news bulletin and online that in the lead-up to the ousting of Turnbull, Murdoch told Stokes that Turnbull had to go. The reports were filed by the ABC’s national political editor, Andrew Probyn, who has previously worked for Seven West Media. Stokes says Probyn should therefore know that he does not engage in "speculative political gossip".

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN NETWORK LIMITED, WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED