AUSTRALIA – POLITICS AND GOVERNMENT

Turnbull to walk away on Friday

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Original article by Andrew Clennell
The Australian – Page: 8 : 28-Aug-18

Nominations for the federal seat of Wentworth will be sought until 3 September, after former prime minister Malcolm Turnbull indicated that he intends to formally resign from Parliament on 31 August. Dave Sharma, Christine Forster and Andrew Bragg are said to be among the contenders for pre-selection, with the by-election likely to be held on 6 October. Turnbull’s son-in-law James Brown has ruled himself out of contention.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, THE RETURNED AND SERVICES LEAGUE OF AUSTRALIA LIMITED, SYDNEY CITY COUNCIL, WOOLLAHRA MUNICIPAL COUNCIL

ScoMo’s next generation cabinet

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 27-Aug-18

The federal government’s seventh ministerial reshuffle in three years includes four new cabinet ministers, while the number of women in cabinet has risen from five to six. Several key portfolios have been split under new Prime Minister Scott Morrison; Angus Taylor is the new Energy Minister and Melissa Price takes on the role of Environment Minister, while Peter Dutton will remain the Minister for Home Affairs but David Coleman will take charge of immigration policy. Kelly O’Dwyer will assume responsibility for the newly-reinstated industrial relations portfolio, while small business has regained cabinet status under Michaelia Cash.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF THE TREASURY

Bottom line pushes budget closer to surplus

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Original article by David Uren
The Australian – Page: 4 : 27-Aug-18

The Australian Government’s May 2018 Budget had forecast a 2017-18 deficit of $14.5bn. Economists expect the final figure – which will be disclosed by the end of September – to be slightly below this. Company tax receipts for the full year are likely to be in line with Budget projections, although overall government revenue was tracking slightly below forecasts during the first 11 months of the financial year. Shane Oliver of AMP Capital says incoming Treasurer Josh Frydenberg is likely to face some revenue challenges in the medium-term.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AMP CAPITAL INVESTORS LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, S&P GLOBAL INCORPORATED

PM’s house of chaos

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Original article by Simon Benson, Geoff Chambers, Joe Kelly, Rachel Baxendale
The Australian – Page: 1 & 8 : 24-Aug-18

Mathias Cormann and Mitch Fifield are among 10 ministers who resigned on 23 August, as the federal government’s leadership crisis deepened. A second leadership spill is expected to be held on 24 August, with Peter Dutton, Scott Morrison and Julie Bishop set to run. Coalition MPs who have backed a petition for a second ballot are believed to be close to securing the 43 signatures which Prime Minister Malcolm Turnbull says will be necessarily for a spill to be held; he has also threatened to resign from parliament if there is a second spill. Thirteen ministers in total have offered to resign since the leadership crisis began.

CORPORATES
AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. OFFICE OF THE GOVERNOR-GENERAL, AUSTRALIA. OFFICE OF THE SOLICITOR-GENERAL

Nats to reclaim power in new deal

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Original article by Tom McIlroy
The Australian Financial Review – Page: 7 : 24-Aug-18

National Party MP Kevin Hogan claims he will move to the crossbenches if Prime Minister Malcolm Turnbull is replaced as Liberal leader on 24 August. Hogan, who represents the seat of Page in New South Wales, says the Liberal Party does not "deserve my support". It is understood that the Nationals will move to reassert their power within the Coalition agreement if Turnbull is ousted, while Nationals leader Michael McCormack says the decision as to who should be Liberal leader is up to its MPs.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA 21 LIMITED

‘I was not in breach’: Peter Dutton releases new legal advice on eligibility to be MP

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Original article by Latika Bourke
The Age – Page: Online : 24-Aug-18

Former Home Affairs Minister Peter Dutton has used social media to publish legal advice which suggests that his beneficial interest in several child care centres is not in breach of the Constitution. Dutton said he was advised by former solicitor-general David Bennett that he is eligible to be in parliament, and noted that Guy Reynolds SC has also previously advised that he is not in breach of section 44 of Constitution. Bennett has also provided Prime Minister Malcolm Turnbull with advice regarding section 44 in the past.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. OFFICE OF THE SOLICITOR-GENERAL, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, LIBERAL PARTY OF AUSTRALIA, ONE NATION PARTY

Australians worried about Government’s instability, favouritism towards big business and climate change if an L-NP Government is re-elected. Concerns if the ALP is elected to Government centre on union influence, poor economic management and policies on immigration and refugees

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Aug-18

Australians have responded to the unprecedented leadership instability at the head of the Turnbull Government by outlining their concerns about a re-elected L-NP Government and their worries about an ALP Government should it be elected at the next Federal Election – which could be held at any time between now and May 2019. Australians are most concerned about the continuing instability that would impact on a re-elected L-NP Government while the L-NP’s perceived favouritism towards "big business", and policies towards climate change and refugees and immigration are pressing concerns. If an ALP Government were elected at the next Federal Election Australians are worried about the perceived strong union influence on a Bill Shorten-led Government as well as the ALP’s poor economic management abilities, reckless spending and concerns from both ALP & L-NP supporters about the ALP’s policies towards immigration and refugees. For full details, including verbatim responses from Australian electors, click through.

CORPORATES
MORGAN POLL, ROY MORGAN LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Latest Morgan Poll shows Julie Bishop (64%) easily preferred as Prime Minister to Bill Shorten (36%)

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Aug-18

Deputy Liberal Leader Julie Bishop has easily the strongest performance against Opposition Leader Bill Shorten in a head-to-head matchup while fellow leadership aspirant Scott Morrison is in a virtual "dead-heat" with Shorten. Julie Bishop (64%) clearly leads Bill Shorten (36%) while Bill Shorten (50.5%) and Scott Morrison (49.5%) can barely be separated according to a special Snap SMS Morgan Poll conducted with a cross-section of more than 2,000 Australian electors on Thursday. An earlier SMS Morgan Poll showed PM Malcolm Turnbull (54%) ahead of Shorten (46%) while Shorten (62%) easily leads Peter Dutton (38%). Bishop’s strong performance in a head-to-head match-up with Shorten shows that if the Liberal Party wants its best chance of winning the next Federal Election Julie Bishop is the smart choice to lead the party. Follow this link to see the latest Morgan Poll results with interview between Roy Morgan CEO Michele Levine and ABC TV’s Matter of Fact with Stan Grant to follow.

CORPORATES
MORGAN POLL, ROY MORGAN LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Dutton’s $7.5b GST idea a budget blower

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 23-Aug-18

Prime Minister Malcolm Turnbull and Treasurer Scott Morrison have criticised a proposal by Peter Dutton to reduce the cost of electricity by exempting household power bills from the goods and services tax. Turnbull has warned that the states would have to be compensated for loss of GST revenue, while Morrison says it would result in a Budget blowout. Dutton has also proposed royal commissions into the electricity and fuel sectors, as well a reduction in Australia’s annual migrant intake.

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

PM dumps big business tax cuts

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Original article by Rosie Lewis
The Australian – Page: 6 : 23-Aug-18

The Senate has voted against the Federal Government’s company tax cuts package, which would have progressively reduced the tax rate for businesses with turnover of more than $50m from 30 per cent to 25 per cent. Prime Minister Malcolm Turnbull says tax cuts for larger companies will not be on the Coalition’s agenda for the next election. The government will instead look at options for bringing forward tax cuts for businesses with turnover of up to $50m that have already been legislated. An amendment to exclude the major banks from the proposed tax cuts was also rejected by the upper house.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, CENTRE ALLIANCE, ONE NATION PARTY, THE AUSTRALIAN INDUSTRY GROUP