AUSTRALIA – POLITICS AND GOVERNMENT

Subs blowout could scuttle tax cuts

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Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 12-Jun-18

Centre Alliance senator Rex Patrick has sought to link his support for the Federal Government’s company tax cuts package to the construction of a new submarine fleet. Patrick has expressed concern about the cost of the 12 submarines and warned that he cannot support the tax package until the full cost of the new fleet is disclosed. The Senate budget estimates committee was recently told that it will cost about $A50bn to build the submarines, but Patrick estimates that they could cost taxpayers around $A200bn in total during their operational life.

CORPORATES
CENTRE ALLIANCE, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, NAVAL GROUP

Business must lead push for IR change: Hendy

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

The Federal Government’s failure to pursue workplace reforms has been criticised by Peter Hendy, the former chief economic adviser to Prime Minister Malcolm Turnbull. The ex-Liberal MP notes the Coalition’s lack of action since it commissioned the Productivity Commission to undertake a review of the industrial relations regime after it won office in 2013. Hendy adds that the business community should be more active in promoting industrial relations reform, after failing to do so in recent years.

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

Treasury overstated cost of tax cuts

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Original article by Adam Creighton
The Australian – Page: 2 : 8-Jun-18

Australian Taxpayers Alliance director John Humphreys estimates that the Federal Government’s income tax cuts will cost about $A78bn over 10 years, compared with Treasury’s forecast of $A144bn. The government estimates that the third stage of the tax package will cost $41.6bn, but Humphreys’ analysis suggests that it will cost just $A3.5bn. Humphreys and other experts argue that Treasury’s forecasts do not take into account the fact that more people are likely to enter the workforce or increase the number of hours they work as a result of the tax cuts.

CORPORATES
AUSTRALIAN TAXPAYERS’ ALLIANCE PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, UNIVERSITY OF MELBOURNE, UNIVERSITY OF NEW SOUTH WALES, AUSTRALIAN LABOR PARTY, UNIVERSITY OF QUEENSLAND, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Call to cut red tape in bid to hasten projects

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Original article by Joe Kelly
The Australian – Page: 2 : 8-Jun-18

A new report from the Institute of Public Affairs advocates a range of measures aimed at reducing the compliance burden for the business sector. The report’s co-author, Daniel Wild, says the annual cost of red tape is $A176bn and a major overhaul of the regulatory regime is necessary. Amongst other things, the IPA report calls for sweeping changes to the approvals process for major projects and people who want to start their own business.

CORPORATES
INSTITUTE OF PUBLIC AFFAIRS LIMITED

Foreign spy threat to by-elections

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 8-Jun-18

The joint committee on intelligence and security has made 60 recommendations in its report on the Federal Government’s Espionage and Foreign Interference Bill. Attorney-General Christian Porter says the committee should also report immediately on the Foreign Influence and Transparency Scheme Bill. He argues that both bills must be passed by Parliament prior to the five by-elections on 28 July, to ensure that the outcome of the polls is not affected by the actions of foreign agents. He says the threat of foreign interference has increased in recent months.

CORPORATES
AUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, COMMUNIST PARTY (CHINA)

GetUp! accused of strategy switch in support of Labor

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Original article by Brad Norington
The Australian – Page: 4 : 7-Jun-18

The role of activist group GetUp in Labor’s "Mediscare" campaign during the 2016 federal election is under scrutiny. Liberal MP Ben Morton has questioned why GetUp put healthcare funding at the top of its campaign agenda for the election. He notes that the issue of Medicare ranked eighth in GetUp’s membership survey in 2015, but it suddenly ranked as a high priority in the election year. Morton alleges that GetUp switched its campaign focus in order to complement Labor’s Medicare campaign.

CORPORATES
AUSTRALIAN LABOR PARTY, GETUP LIMITED, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN ELECTORAL COMMISSION

Labor ridiculed for throwing gender bias into tax battle

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Original article by Ben Packham
The Australian – Page: 1 & 4 : 7-Jun-18

Shadow treasurer Chris Bowen has revealed that the Parliamentary Budget Office has undertaken an analysis of the gender impact of the Federal Government’s income tax cuts package on behalf of the Opposition. Bowen says the modelling shows that men will benefit the most from the third phase of the tax cuts. Treasurer Scott Morrison has responded by arguing that the income tax system is gender-neutral, a view shared by business leader Tony Shepherd. Small Business Ombudsman Kate Carnell says it is inappropriate to address the gender pay gap via the tax system.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, NRMA LIMITED

Burston to vote for full income tax cut package

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 7-Jun-18

The Federal Government still requires the support of eight out of the 10 crossbenchers to pass its income tax cuts package in the Senate. One Nation senator Brian Burston has indicated that he intends to support the entire tax package, despite party leader Pauline Hanson having committed to supporting only the first two stages of the tax package. Labor will also support the first two stages of the package, but Treasurer Scott Morrison has ruled out legislating the third stage separately.

CORPORATES
ONE NATION PARTY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN GREENS, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

MPs warn Facebook over China

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Original article by Simon Benson, Darren Davidson
The Australian – Page: 1 & 6 : 7-Jun-18

Social media giant Facebook is under scrutiny over revelations that its users’ personal data was shared with Chinese technology company Huawei. Labor MP Anthony Byrne has described Facebook’s actions as "completely unacceptable". The deputy chairman of federal parliament’s joint committee on intelligence and security has also raised the possibility that Facebook CEO Mark Zuckerberg could be asked to appear before the committee. Zuckerberg has previously appeared before US and European legislators in the wake of the Cambridge Analytica data breach scandal.

CORPORATES
FACEBOOK INCORPORATED, HUAWEI TECHNOLOGIES COMPANY LIMITED, AUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIAN LABOR PARTY, CAMBRIDGE ANALYTICA LLC, LENOVO GROUP LIMITED, OPPO ELECTRONICS CORPORATION, TCL CORPORATION, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, COMMUNIST PARTY (CHINA), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GOOGLE INCORPORATED, APPLE INCORPORATED

PM backs Joyce to recontest New England

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

National Party MP Barnaby Joyce intends to be a candidate for the seat of New England at the next federal election. Opinion within the party is divided regarding Joyce’s future, with some colleagues suggesting that he should consider quitting politics in the wake of his relationship with an ex-staffer. However, Prime Minister Malcolm Turnbull and the Nationals’ deputy leader Bridget McKenzie say he should stay in politics. Former Nationals leader John Anderson says he will not seek pre-selection for New England.

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