AUSTRALIA – POLITICS AND GOVERNMENT

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

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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

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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

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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

Ignore One Nation at your peril, says Roy

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Original article by Mark Ludlow
The Australian Financial Review – Page: 4 : 26-Jul-18

One Nation’s preferences contributed to the Liberal-National Party’s loss of Longman at the 2016 federal election. The minor political party is likely to have an impact on the outcome of the by-election on 28 July, with expectations that it will gain about 20 per cent of the primary vote. Wyatt Roy, who lost the seat to Labor’s Susan Lamb in 2016, says both of the major parties must listen to the concerns of One Nation supporters. He notes that L-NP candidate Trevor Ruthenberg should benefit from One Nation preferences.

CORPORATES
ONE NATION PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AFINITI

Nine-week campaign might save us: Labor

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 26-Jul-18

The seats of Longman and Braddon will be the focus of Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten in the last two days before the by-elections on 28 July. The Liberal Party and Labor agree that the outcome of both by-elections is now too close to call. Meanwhile, a Labor source says the party has benefited from the marathon nine-week election campaign, as its internal polling suggests that Labor would have lost both seats if the election campaign had been shorter.

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

Snowy 2.0 a risk to threatened fauna

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Original article by Joe Kelly
The Australian – Page: 2 : 26-Jul-18

An environmental impact statement has raised concern that the Federal Government’s proposed expansion of the Snowy Hydro scheme could adversely affect the habitat of some endangered species. These include the smoky mouse, the gang-gang cockatoo and the eastern pygmy possum. The EIS notes that measures are being taken to minimise the impact that exploratory work for the Snowy 2.0 project is having on the habitats of at-risk species.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES. DEPT OF PLANNING AND ENVIRONMENT. OFFICE OF ENVIRONMENT AND HERITAGE, NEW SOUTH WALES. NATIONAL PARKS AND WILDLIFE SERVICE

Labor move to kill off energy deal

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Original article by Ben Packham
The Australian – Page: 1 & 2 : 26-Jul-18

The Federal Government will require the support of Senate crossbenchers for its national energy guarantee, after Labor signalled that it will oppose the policy even if it is approved by the states and territories. Labor’s energy spokesman Mark Butler has described the NEG’s carbon emissions reduction target as "un­realistic" and warned that the policy will adversely affect jobs and investment in the renewable energy sector. Smart Energy Council CEO John Grimes has expressed similar concerns, while Victorian Energy Policy Centre director Bruce Mountain has questioned the need for the NEG.

CORPORATES
AUSTRALIAN LABOR PARTY, SMART ENERGY COUNCIL, VICTORIAN ENERGY POLICY CENTRE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, COUNCIL OF AUSTRALIAN GOVERNMENTS, ONE NATION PARTY, AUSTRALIA. ENERGY SECURITY BOARD, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Labor spends up big as leadership pressure builds

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Original article by Mark Ludlow, Andrew Tillett
The Australian Financial Review – Page: 5 : 25-Jul-18

Labor has made spending commitments totalling $155m during campaigning in the seat of Longman, compared with the $44.6m that has been pledged by the Coalition. Likewise, Labor has announced spending measures in excess of $183m in the seat of Braddon, while the Coalition has committed to spending $122.7m. The other three seats in which by-elections will be held on 28 July have attracted significantly fewer spending promises from both sides of politics.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, ONE NATION PARTY, CENTRE ALLIANCE

Power price warning to Labor states

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Original article by Ben Packham
The Australian – Page: 1 & 6 : 25-Jul-18

The final version of the Federal Government’s national energy guarantee estimates that the average household’s electricity costs would fall by about $550 a year. Previous modelling had suggested that the NEG would reduce electricity bills by about $A400 a year. Meanwhile, the Energy Security Board has warned Labor-led states that investment in green energy programs will be adversely affected if they do not support the NEG at the upcoming Council of Australian Governments meeting. The ESB also says electricity prices will remain high of the NEG is not implemented.

CORPORATES
AUSTRALIA. ENERGY SECURITY BOARD, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN LABOR PARTY, THE AUSTRALIAN INDUSTRY GROUP, AGL ENERGY LIMITED – ASX AGL, TOMAGO ALUMINIUM COMPANY PTY LTD, CLEAN ENERGY COUNCIL LIMITED

Deloitte claims tax cuts are unaffordable

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Original article by Ben Potter
The Australian Financial Review – Page: 9 : 23-Jul-18

Deloitte Access Economics’ June Business Outlook contends that the Budget is not yet healthy enough for the federal government to commit to long-term tax cuts. Shadow treasurer Chris Bowen claims that Deloitte’s comments are an indictment of the government’s tax plans, which he contends will increase the prospect that more cuts to health and education will be needed over the next 10 years. Deloitte notes that a slump in property and a decline in the Chinese economy could bring about an end to the current revenue surge that the Budget is enjoying.

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE