AUSTRALIA – POLITICS AND GOVERNMENT

ALP seeks to shift the IR balance

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 21-May-18

Shadow workplace relations minister Brendan O’Connor has accused the Federal Government of politicising the Fair Work Commission by failing to appoint any members with a union background. He says Labor will increase union representation on the FWC if it wins the next election, noting that all 14 appointments since the Coalition won office in 2013 have been employer ­appointments. However, Workplace Minister Craig Laundy argues that Labor appointed most of the 39 members of the FWC, including president Iain Ross.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), ACTU, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL

Coalition achieves million jobs vow

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Original article by Adam Creighton
The Australian – Page: 6 : 18-May-18

Official data shows that Australia’s unemployment rate rose from 5.5 per cent to a nine-month high of 5.6 per cent in April. Some 23,000 jobs were created in April, and the economy has added 1.014 million jobs since the Coalition won office in September 2013. Former prime minister Tony Abbott had made an election commitment to generate one million new jobs during the first five years of a Coalition government. Tom Kennedy of JP Morgan notes that the construction and healthcare sectors accounted for more than 50 per cent of the jobs created during 2017.

CORPORATES
JP MORGAN AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

PRRT changes may be leverage on One Nation

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Original article by Phillip Coorey, Angela Macdonald-Smith
The Australian Financial Review – Page: 3 : 18-May-18

The Federal Government requires the support of at least one additional Senate crossbencher for its company tax package. Proposed changes to the Petroleum Resources Rent Tax were absent from the May 2018 Budget, and sources have confirmed that this was partially to provide the government with a bargaining tool amid concerns that One Nation may back down on its support for the tax cuts. The changes to the PRRT would only affect future oil and gas projects, but industry players want the reforms to be enacted before the next election in case Labor wins and opts to subject existing projects to the new regime.

CORPORATES
ONE NATION PARTY

Setka tells Shorten: loosen strike laws

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Original article by Ewin Hannan, Troy Bramston
The Australian – Page: 1 & 6 : 18-May-18

The Construction, Forestry, Maritime, Mining & Energy Union’s Victorian secretary John Setka has urged Labor to make changes to the Fair Work Act if it wins the next federal election. Amongst other things, he has called for rules governing protected industrial action and unions’ right to enter workplaces to be relaxed. Setka has also criticised former Labor prime ministers Kevin Rudd and Julia Gillard over their policies on industrial relations. Meanwhile, Michele O’Neil is tipped to succeed Ged Kearney as president of the ACTU. O’Neil is the national secretary of the textiles union, which is part of the CFMMEU.

CORPORATES
CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ACTU, TEXTILE, CLOTHING AND FOOTWEAR UNION OF AUSTRALIA, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN FEDERAL POLICE, VICTORIA POLICE, VICTORIA. DIRECTOR OF PUBLIC PROSECUTIONS

Labor will stick to top tax rate of 49pc

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 17-May-18

Shadow treasurer Chris Bowen has used a National Press Club speech to reiterate that a Labor government would reinstate the temporary budget repair levy. Bowen argued that the two per cent levy on incomes of more than $A180,000 is justified as the Budget is still in deficit. He added that Labor would retain the levy until the Budget is sustainably in surplus, and nominated one per cent of GDP as a likely figure. Bowen also gave indications that Labor will support the second stage of the May 2018 Budget’s income tax package.

CORPORATES
AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA)

Flat wages cast doubt on budget

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Original article by Adam Creighton
The Australian – Page: 1 & 4 : 17-May-18

New figures show that Australian wages rose by just 0.5 per cent in the March quarter, unchanged from the three months to December. Independent economist Saul Eslake says the wage price index data may undermine the Federal Government’s forecast for a Budget surplus in 2019-20, which is dependent on growth in wages and consumer spending. The subdued growth in wages may also affect the outlook for official interest rates, with Sarah Hunger of BIS Oxford Economics suggesting that the cash rate could potentially be on hold until 2020.

CORPORATES
BIS OXFORD ECONOMICS PTY LTD, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIAN LABOR PARTY

Performance bonuses here to stay at ABC

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Original article by Stephen Brook
The Australian – Page: 3 : 17-May-18

The ABC has defended its remuneration system in the wake of revelations that staff received bonuses totalling $A2.6m in 2017. A spokesman has indicated that fixed remuneration rates for ABC executives are consistent with market rates, while performance pay scales are below market rates. Communications Minister Mitch Fifield notes that federal government departments abolished executive bonus schemes in 2008, but the government has no power to direct the ABC to do so.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SPECIAL BROADCASTING SERVICE (SBS), NBN CO LIMITED, COMMUNITY AND PUBLIC SECTOR UNION

Workplace ombudsman fights for second term, despite critics

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Original article by Ewin Hannan
The Australian – Page: 6 : 16-May-18

The federal government has advertised the position of Fair Work Ombudsman, but incumbent Natalie James is keen to continue in the role. She says the FWO has secured record penalties during her initial five-year term, which expires in July. Labor’s Brendan O’Connor says the role of FWO should be given to someone whose priority is combatting the exploitation of workers, rather than an "anti-worker warrior". James was appointed by the former Labor government.

CORPORATES
AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, ACTU, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED)

Retirees to fund Labor cash spree

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Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 4 : 16-May-18

It is estimated that the Federal Opposition’s tax plan would raise almost $A30bn in additional revenue over the four years to 2021-22. Labor’s proposal to scrap cash refund for excess dividend imputation credits, which primarily affects self-fund retirees, would account for $A10.7bn of this revenue, according to the Treasury and the Parliamentary Budget Office. Shadow treasurer Chris Bowen will use a speech on 15 May to emphasise that the bulk of the extra revenue will be used to reduce debt and the Budget deficit. Labor also intends to match the Coalition’s revised target of 2019-20 for achieving a surplus.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PRESS CLUB (AUSTRALIA)

Leave tax cuts alone, Hinch tells Shorten

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Original article by Joe Kelly
The Australian – Page: 4 : 16-May-18

The tax rate for companies with turnover of up to $A50m is slated to be reduced to 27.5 per cent on 1 July, as part of the Federal Government’s enterprise tax plan. Opposition Leader Bill Shorten has committed to supporting tax cuts for businesses with turnover of up to $A2m, although Labor is believed to be open to raising this threshold to $A10m. Senate crossbencher Derryn Hinch says Labor should not seek to reverse the legislated tax cuts if it wins the next election.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, MASTER GROCERS’ AUSTRALIA PTY LTD, IGA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE