AUSTRALIA – POLITICS AND GOVERNMENT

Shorten’s IR promise to militant CFMEU

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Original article by Simon Benson
The Australian – Page: 1 & 6 : 27-Feb-18

Federal Opposition Leader Bill Shorten and employment spokesman Brendan O’Connor visited Glencore’s Oaky North coal mine in October 2017. Shorten told Construction, Forestry, Mining & Energy Union members who were engaged in a long-running strike at the site that Labor will overhaul workplace laws if it wins the next federal election. Employment Minister Craig Laundy says Shorten’s speech demonstrates that Labor intends to pursue industrial relations reforms that would give unions greater power in the workplace.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, GLENCORE PLC, AUSTRALIA. DEPT OF EMPLOYMENT, ACTU

Hanson dooms company tax cuts

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Original article by David Uren
The Australian – Page: 1 & 6 : 26-Feb-18

Prime Minister Malcolm Turnbull has reiterated that Australia must reduce its company tax rate in order to remain internationally competitive in the wake of the Trump administration’s tax reforms. However, One Nation leader Pauline Hanson says her party will not support the tax bill in the Senate. She has also questioned whether reducing the tax rate for all companies to 25 per cent would actually result in increased investment in Australia. Acting Prime Minister Mathias Cormann says the tax package must be passed in its entirety.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL DEMOCRATIC PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, INTERNATIONAL MONETARY FUND

‘There’s a lot of money in the room’

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Original article by John Kehoe
The Australian Financial Review – Page: 10 : 26-Feb-18

Seven Network owner Kerry Stokes says US President Donald Trump is more engaging than he had expected. Stokes is one of a number of Australian executives to have accompanied Prime Minister Malcolm Turnbull on his visit to the US, and whom Turnbull introduced to Trump. QIC CEO Damien Frawley said the White House was clearly a lot more organised than it has been portrayed in the media, while Business Council of Australia president Grant King said it was clear that Trump is "getting some things done".

CORPORATES
SEVEN NETWORK LIMITED, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, QIC LIMITED, BUSINESS COUNCIL OF AUSTRALIA, WESFARMERS LIMITED – ASX WES, IFM INVESTORS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, LEND LEASE GROUP LIMITED – ASX LLC, QANTAS AIRWAYS LIMITED – ASX QAN, RIO TINTO LIMITED – ASX RIO, AMP CAPITAL INVESTORS LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, GOLDMAN SACHS AUSTRALIA PTY LTD, PRATT INDUSTRIES PTY LTD

Plan now or quality of city life will fall

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 23-Feb-18

Infrastructure Australia contends that governments need to start planning for what it claims will be a population increase of 12 million over the next 30 years. Much of this growth is expected to occur in major capital cities such as Sydney and Melbourne, but Infrastructure Australia warns that the quality of life in large cities will suffer if planning does not start now on infrastructure issues such as the adoption of user-pays road systems and the development of large "timetable-free" public transport networks.

CORPORATES
INFRASTRUCTURE AUSTRALIA

Joyce faces challenge to Nats leadership

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Original article by Andrew Tillett, Tom McIlroy
The Australian Financial Review – Page: 3 : 23-Feb-18

Barnaby Joyce’s future as leader of the National Party remains under scrutiny ahead of a party room meeting on 26 February. Nationals MP Andrew Broad will ask his colleagues to support a resolution calling for Joyce to resign, arguing that he should do so for the good of the party and the nation. Broad also believes that Joyce should step down from his ministerial portfolio and spend some time on the backbench in the wake of his affair with a former staffer. The National Party’s chief whip Michelle Landry says Joyce should have sufficient party room support to fend off a leadership spill.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF VETERANS’ AFFAIRS

Cormann to pound company tax drum

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 22-Feb-18

The Federal Government’s company tax package requires the support of the majority of Senate crossbenchers. Acting Prime Minister Mathias Cormann has written to the 11 crossbenchers urging them to vote in favour of the tax package. The proposal to progressively reduce the tax rate for all companies from 30 per cent to 25 per cent has the support of Liberal Democrats senator David Leyonhjelm, who argues that it should in fact be reduced to 20 per cent. Meanwhile, a report from the International Monetary Fund has highlighted the economic benefits of reducing the company tax rate.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL DEMOCRATIC PARTY, INTERNATIONAL MONETARY FUND, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN CONSERVATIVES, WOOLWORTHS GROUP LIMITED – ASX WOW, BHP BILLITON LIMITED – ASX BHP, WESFARMERS LIMITED – ASX WES, QANTAS AIRWAYS LIMITED – ASX QAN

Big employers pile on the pressure over company tax

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Original article by Simon Benson
The Australian – Page: 4 : 21-Feb-18

The retail industry has urged the Senate crossbenchers to support the Federal Government’s legislation to reduce the company tax rate from 30 per cent to 25 per cent. The Australian Retailers Association’s executive director Russell Zimmerman says the nation’s high corporate tax rate hinders the ability of retailers to hire additional staff and increase wages, while Woolworths CEO Brad Banducci says a lower tax rate would enable the company to increase its investment in its Australian business. The National Retail Association argues that a lower tax rate would result in the creation of more entry-level jobs in the sector.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, WOOLWORTHS GROUP LIMITED – ASX WOW, NATIONAL RETAIL ASSOCIATION LIMITED, BHP BILLITON LIMITED – ASX BHP, AUSTRALIA. DEPT OF THE TREASURY, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Joyce crisis has tarnished Nats brand, WA says

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Original article by Joe Kelly, Victoria Laurie, Andrew Burrell, Andrew Clennell
The Australian – Page: 5 : 21-Feb-18

National Party leader Barnaby Joyce has lost the support of the party’s Western Australian division, which has stated that his position is no longer tenable in the wake of his affair with an ex-staffer. Some Nationals MPs believe that it would be in the best interests of the party for Joyce to resign voluntarily rather than being forced to step down, warning that he could damage the Coalition politically from the backbench. Meanwhile, the Liberal-National Party of Queensland’s president Gary Spence has urged a swift resolution to the crisis.

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

Joyce loses support of party bosses

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 20-Feb-18

The future of National Party leader Barnaby Joyce remains in doubt amid growing calls from within the party for him to stand down and retire to the backbench in the wake of his affair with a former staffer. The party’s federal executive discussed the Joyce situation via a conference call on 19 February, although they did not make a decision on his future. Veterans’ Affairs Minister Michael McCormack, who is seen as the leading contender to replace Joyce, has told Sky News that Joyce will remain leader while he retains the support of the party room. However, he downplayed suggestions of a leadership challenge.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF VETERANS’ AFFAIRS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Get a real job (for once) O’Connor, instead of fiddling with commission

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Original article by Judith Sloan
The Australian – Page: 6 : 20-Feb-18

A proposal by the Opposition’s workplace relations spokesman Brendan O’Connor to transfer responsibility for setting the minimum wage from the Fair Work Commission to the Federal Government was ill-considered. There is some merit in having the minimum wage set by the independent umpire, which takes into account factors such as the state of the economy. It should be noted that people on low incomes are most at risk of being retrenched or having their working hours cut if an increase in the minimum wage is excessive. Likewise, many people on the minimum wage are in fact from wealthy households.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION