AUSTRALIA – POLITICS AND GOVERNMENT

MP’s support for coal spot on

roymorgansocial Leave a comment

Original article by Greg Brown
The Australian – Page: 6 : 8-Aug-18

Whitehaven Coal CEO Paul Flynn has welcomed comments made by Labor MP Meryl Swanson in support of coal-fired power generation using low-emissions technology. Swanson recently toured high energy, low emissions power stations in Japan as part of a bipartisan delegation. Flynn says Australia should consider the construction of such power stations, noting that Japan accounts for about 60 per cent of Whitehaven’s thermal coal exports. However, Labor’s energy spokesman Mark Butler says HELE power stations are expensive to build and they produce more carbon emissions that gas-fired power stations.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COAL21, MINERALS COUNCIL OF AUSTRALIA

Feds could compromise on NEG target review

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 8-Aug-18

Federal Government sources have indicated that the Coalition may be open to allowing its carbon emissions reduction target to be reviewed earlier than 2024, in order to secure support for the national energy guarantee. Labor wants the emissions target to be reviewed well before this date, and it advocates holding the reviews every three years. Labor also favours allowing the emissions reduction target to be changed via regulation, but the government is refusing to back down on its requirement that changes can only be made via legislation.

CORPORATES
AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, AUSTRALIAN GREENS, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING

Super carve-out is absolutely ridiculous

roymorgansocial Leave a comment

Original article by Anthony Klan
The Australian – Page: 8 : 8-Aug-18

National Party senator John Williams has criticised a loophole in the Superannuation Industry (Supervision) Act which mean that super fund trustees cannot be penalised for breaching it. The statute stipulates that penalties for non-compliance include jail time and financial damages, but these sanctions do not apply to super fund trustees. Williams has described the situation as "ridiculous" and called for urgent action to address the issue.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AMP LIMITED – ASX AMP, IOOF HOLDINGS LIMITED – ASX IFL

Turnbull considering more drought aid

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 7-Aug-18

The federal government is likely to offer more assistance to drought-impacted farmers, as it looks at ways to help farmers adjust to a climate that is becoming hotter and drier. Short-term assistance that the government can offer could include helping to pay for the high cost of fodder transportation, while longer-term measures could include assistance with on-farm water storage and other infrastructure, including the possibility of tax write-offs. National Farmers’ Federation CEO Tony Mahar says subsidising crop insurance would also help farmers.

CORPORATES
NATIONAL FARMERS’ FEDERATION LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RABOBANK AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES FARMERS ASSOCIATION

Senate support to fast-track small biz cuts

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 7-Aug-18

The Federal Government will seek to pass its full company tax cuts package in the Senate when parliament resumes in mid-August. The support of One Nation and Centre Alliance senators will be crucial, although they are still unwilling to endorse the full package. However, both minor parties have signalled that they would most likely support any proposal to bring forward tax cuts for businesses with turnover of less than $50m. The tax cuts are slated to take effect in 2026-27, but Centre Alliance senator Stirling Griff says he would be open to reducing the tax rate for these businesses to 25 per cent immediately.

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Labor states keep energy plan alive

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 7-Aug-18

Labor-led state governments are unlikely to support the national energy guarantee at the Council of Australian Governments meeting on 10 August. However, the Victorian, Queensland and ACT governments have indicated that they are open to backing the NEG, although they will not make a final decision until after the policy is put to the federal Coalition’s joint party room meeting on 14 August. The NEG’s proposed carbon emissions reduction target remains a key point of contention for Labor at both state and federal level.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. ENERGY SECURITY BOARD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Labor split risks killing energy deal

roymorgansocial Leave a comment

Original article by Simon Benson, Michael McKenna, Samantha Hutchinson, Michael Owen
The Australian – Page: 1 & 6 : 6-Aug-18

The Labor Environment Action Network says the proposed national energy guarantee should only be supported if there is provision for carbon emissions reduction targets to be increased to match Labor’s own stated targets. Labor’s environmental wing argues that it is in the nation’s interests to resolve the impasse regarding energy policy. However, a Queensland Government source has indicated that it will not support the NEG in its current form, while Victorian Premier Daniel Andrews says his state will not back the NEG unless the Federal Government can demonstrate that its own party room will support the policy.

CORPORATES
AUSTRALIAN LABOR PARTY, LABOR ENVIRONMENT ACTION NETWORK, VICTORIA. DEPT OF PREMIER AND CABINET, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. ENERGY SECURITY BOARD, COUNCIL OF AUSTRALIAN GOVERNMENTS, GETUP LIMITED, GREENPEACE AUSTRALIA PACIFIC LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, LIBERAL PARTY OF SOUTH AUSTRALIA

Labor leaps on S&P write-off call for NBN

roymorgansocial Leave a comment

Original article by Supratim Adhikari
The Australian – Page: 25 : 27-Jul-18

Labor has called for the Auditor-General to audit the National Broadband Network’s books, although Finance Minister Mathias Cormann has labelled the suggestion an "ignorant stunt". Labor’s proposal follows a report from S&P Global Ratings which states that the NBN should be written off, with Labor stating that any proposed audit should concentrate on the NBN’s market share and revenue forecasts up until 2040. Labor has not indicated whether it would write off the NBN if it wins the next federal election.

CORPORATES
AUSTRALIAN LABOR PARTY, NBN CO LIMITED, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. OFFICE OF THE AUDITOR-GENERAL, STANDARD AND POOR’S (AUSTRALIA) PTY LTD

Labor ponders emissions target showdown

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 11 : 27-Jul-18

Labor is expected to support the passage of the federal government’s National Energy Guarantee in the House of Representatives. However, it is understood that Labor will seek to amend the NEG’s carbon emissions reduction target in the Senate, and it may have the numbers to achieve this. The government’s intention is that emissions be reduced to 26 per cent of 2005 levels by 2030, but Labor believes that a higher target should be set. If Labor go ahead with this strategy, it could well become a key election issue.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN GREENS, CENTRE ALLIANCE, AUSTRALIA. ENERGY SECURITY BOARD

Missing PM not sign of white flag

roymorgansocial Leave a comment

Original article by Luke Griffiths
The Australian – Page: 4 : 27-Jul-18

Prime Minister Malcolm Turnbull has not campaigned in the seat of Mayo since 4 July, ahead of the by-election on 28 July. Georgina Downer, who is contesting the seat for the Liberals, denies that Turnbull’s recent absence is a sign that the party has given up on winning Mayo, which her father Alexander held from 1984 to 2008. The seat is being contested as a result of Centre Alliance MP Rebekha Sharkie having to resign over her dual citizenship.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, GALAXY RESEARCH PTY LTD