AUSTRALIA – POLITICS AND GOVERNMENT

Backdown on radical wage plan

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Original article by Ewin Hannan
The Australian – Page: 1 & 6 : 20-Feb-18

A future Labor government may require the Fair Work Commission to give greater consideration to the needs of people on low wages when deciding on increases in the minimum wage. At present the FWC is also required to take into account a range of economic factors, and Stephen Smith of the Australian Industry Group says the potential change outlined by the Opposition’s workplace relations spokesman Brendan O’Connor could result in many people on low wages losing their jobs. Labor had previously proposed setting the minimum wage at a proportion of the median wage.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP, ACTU, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF EMPLOYMENT

Plans to cut company tax responsible – Morrison

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Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 19-Feb-18

Treasurer Scott Morrison has downplayed concerns expressed by Reserve Bank governor Philip Lowe about the potential impact of the Federal Government’s proposed company tax cuts. Morrison has stressed that Budget projections have already taken into account the long-term effect of the tax cuts, adding that the Government will not implement any policies that could threaten its timetable for returning the Budget to surplus. The Government also wants to include personal income tax cuts in the May 2018 Budget, again without risking the target date for a surplus.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, BIRINYI ASSOCIATES, STANDARD AND POOR’S 500 INDEX

Shorten’s policies shrink small businesses

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Original article by Craig Laundry
The Daily Telegraph – Page: 64 : 16-Feb-18

Opposition Leader Bill Shorten has outlined plans to tie the minimum wage to 60 per cent of the median wage. As well as potentially putting up to one million small companies out of business, his plan is one similar to that rejected by the Fair Work Commission in 2017, with the FWC being an independent body that Shorten himself helped to set up. Australia already has the second-highest minimum wage in the OECD, with 3.3 per cent increase in 2017 being the largest since 2011. Australian small businesses provide 4.7 million jobs, and account for $A378 billion in outputs; Shorten’s plan would spell disaster for the sector.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Low oil stocks a danger to security

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Original article by Simon Benson
The Australian – Page: 1 & 2 : 16-Feb-18

Australia’s emergency oil supply fell to its lowest level in ­almost 20 years during 2017, according to the International Energy Agency. Andrew Hastie, the head of the parliamentary joint committee on intelligence and security, says the issue of low emergency oil supplies presents a threat to national security. All IEA members are required to maintain the equivalent of 90 days of net imports as emergency stocks, but the IEA noted that Australia failed to have end-of-month levels at this threshold in all but one month over the five years to the end of 2017.

CORPORATES
INTERNATIONAL ENERGY AGENCY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON INTELLIGENCE AND SECURITY

Joyce humiliated as PM imposes sex ban

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Original article by Joe Kelly, Geoff Chambers, Dennis Shanahan
The Australian – Page: 1 & 4 : 16-Feb-18

Prime Minister Malcolm Turnbull has responded to the growing crisis over Barnaby Joyce’s extra-marital affair by announcing that it is not acceptable for a government minister to have sexual relations with a staffer. The ban was imposed after the issue was discussed by the Coalition’s leadership group. Turnbull has also urged Joyce to consider his position, but some Nationals MPs say the party’s leadership issue is solely a matter for the Nationals. Joyce will take personal leave during Turnbull’s upcoming visit to the US, and Finance Minister Mathias Cormann will be acting prime minister in his absence.

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

Saving private Barnaby: rescue mission heads off leadership crisis . . . for now

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Original article by Joe Kelly, Dennis Shanahan, Greg Brown
The Australian – Page: 1 & 4 : 15-Feb-18

National Party leader Barnaby Joyce was the Opposition’s main target during question time in parliament on 14 February. The Joyce saga is also expected to attract scrutiny by Labor in upcoming Senate estimates hearings. Meanwhile, Joyce will not face any threat to his leadership in the near-term after senior members of the Nationals stepped in to quell unrest within the party’s ranks over the deputy prime minister’s shenanigans. However, some Nationals MP say his position will be untenable if further revelations emerge.

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

PM takes CEOs on Trump mateship trip

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Original article by John Kehoe
The Australian Financial Review – Page: 6 : 12-Feb-18

Executives from a number of leading Australian companies and organisations will accompany Prime Minister Malcolm Turnbull on his upcoming visit to the US. Seek, Wesfarmers and IFM Investors will be among the entities represented. Billionaire Anthony Pratt notes that there is over $A1 trillion worth of investment between Australia and the US, and that the US is both Australia’s most significant ally and its major investment partner. A number of state premiers will also be joining Turnbull.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEEK LIMITED – ASX SEK, 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, ORICA LIMITED – ASX ORI, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNITED STATES. NATIONAL GOVERNORS ASSOCIATION, DEMOCRATIC PARTY (UNITED STATES), REPUBLICAN PARTY (UNITED STATES), GLENCORE AUSTRALIA PTY LTD, CORRS CHAMBERS WESTGARTH, BUSINESS COUNCIL OF AUSTRALIA

Joyce’s hold on power at risk: Nat

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Original article by Joe Kelly
The Australian – Page: 1 & 6 : 12-Feb-18

Energy Minister Josh Frydenberg says National Party leader Barnaby Joyce still has strong support within the Coalition and will lead the Nationals to the next federal election. However, there is growing concern within the National Party about a voter backlash over Joyce’s affair with a former staff, particularly among rural voters. The Government’s decision to move Joyce’s lover to a series of well-paid civil service positions has also attracted scrutiny.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Cut tax and see wages grow

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Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 2 : 12-Feb-18

The Federal Government’s legislation for an across-the-board reduction in the company tax rate will be put before the Senate in the week beginning 12 February. BHP Billiton Andrew Mackenzie, Qantas CEO Alan Joyce and Woodside Petroleum’s chairman-elect Richard Goyder have urged the Senate crossbenchers to pass the bill, warning that failure to do so will reduce Australia’s international competitiveness and deter investment. They also argue that reducing the tax rate for all companies will encourage businesses to hire more staff and increase wages.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, QANTAS AIRWAYS LIMITED – ASX QAN, WOODSIDE PETROLEUM LIMITED – ASX WPL, WESFARMERS LIMITED – ASX WES, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, ONE NATION PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AMERICAN AIRLINES INCORPORATED, FEDERAL EXPRESS CORPORATION, AT&T CORPORATION, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RIO TINTO LIMITED – ASX RIO, VISY INDUSTRIES AUSTRALIA PTY LTD

Laundy’s bid to toughen IR rules

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Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 9-Feb-18

Workplace Relations Minister Craig Laundy has signalled that the Federal Government may consider amendments to the Fair Work Act aimed at providing greater protection to workers in the enterprise bargaining process. Laundy says there may be a case for strengthening existing provisions of the Act that require workers to be fully informed of the pay and conditions in an enterprise agreement before they vote for it. He has also warned of the potential for huge job losses if a future Labor government were to implements the ACTU’s proposals regarding the minimum wage and workplace laws.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. FAIR WORK COMMISSION, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS SUPERMARKETS, McDONALD’S AUSTRALIA LIMITED, KFC