AUSTRALIA – POLITICS AND GOVERNMENT

100 per cent sure Bowen knows best

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Original article by Glen Norris, Greg Brown
The Australian – Page: 1 & 4 : 5-Feb-25

Energy Minister Chris Bowen and Resources Minister Madeleine King have defended the federal government’s ambitious renewable energy target, amid growing opposition within the business community. Bowen and King have stated that the government takes its advice on energy policy from experts. Infrastructure NSW chairman Graham Bradley is amongst the business leaders who contend that the target of generating 82 per cent of Australia’s electicity via renewables by 2030 is unrealistic and must be revised.

CORPORATES
AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, INFRASTRUCTURE NEW SOUTH WALES

Senator rejects Chalmers’ super tax offer

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 5-Feb-25

The federal government’s legislation to double the tax rate for superannuation funds with balances exceeding $3m requires the support of the Greens and at least three Senate crossbenchers. Lydia Thorpe and Fatima Payman are expected to support the bill, while Jacqui Lambie and David Pocock firmly oppose it. The support of Tasmanian independent Tammy Tyrell will therefore be crucial; however, she has rejected a deal to back the bill in retun for a commitment to proceed with a proposed ban on debit and credit card surcharges. Tyrell and a number of other crossbenchers are particularly concerned about the proposal to tax the unrealised gains of super funds. One Nation opposes the entire bill.

CORPORATES
AUSTRALIAN GREENS, ONE NATION PARTY

Security ban for DeepSeek AI

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Original article by Ben Packham
The Australian – Page: 1 & 6 : 5-Feb-25

The Department of Home Affairs has issued a protective ­security order which bans the use of DeepSeek on all federal government devices. Every government department and agency has been directed to remove the artificial intelligence app from their systems and devices, prevent future access to the app and report compliance with the order to Home Affairs. The total ban follows an assessment by intelligence agencies that the software poses an "unacceptable risk" to national security. Chinese short-video app TikTok was banned on all federal government-issued devices in 2023 due to similar concerns.

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AUSTRALIA. DEPT OF HOME AFFAIRS

No retaliation if Trump targets us, says Chalmers

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Original article by Ben Packham
The Australian – Page: 5 : 5-Feb-25

The federal government is optimistic that Australian imports to the US will not be targeted under President Donald Trump’s new tariffs policy. Treasurer Jim Chalmers has indicated that Labor is not contemplating the need to impose retaliatory measures on US imports, citing factors such as the two nations’ close strategic partnership and the large US trade surplus with Australia. Business Council of Australia CEO Bran Black also believes that such factors will enable Australia to avoid being targeted by Trump.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA

Visa plan a golden invitation for crime

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Original article by Stephen Rice
The Australian – Page: 6 : 4-Feb-25

Sir Bill Browder has attacked plans by Opposition leader Peter Dutton to consider reinstating the significant investor visa if the Coalition wins the federal election. Dubbed the ‘golden ticket’ visa, they were given to people who committed to invest $5 million if they were granted entry to Australia, but they were scrapped by the federal government last year after it was revealed they were being used by foreign criminals and corrupt regime officials to secure Australian citizenship. Sir Bill was the main force behind the creation of the Magnitsky laws, which sanction human rights abusers and corrupt officials; he claims that bringing back the significant investor visa would amount to "reopening the door to organised crime".

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Dark money totalling $67.2m flowed to Labor, Coalition and Greens in 2023-24

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Original article by Dan Jervis-Bardy, Sarah Basford Canales
The Guardian Australia – Page: Online : 4-Feb-25

Data from the Australian Electoral Commission shows that Labor, the Coalition and the Greens declared a total of $156m in political donations for the last financial year. Labor and its state branches received $67.5m worth of political donations in 2023-24; the Coalition received $72.2m and the Greens received $17.1m. However, the four major political parties did not declare the source of a combined $67.2m worth of donations. These financial contributions were below the disclosure threshold of $16,300 which the federal government wants to reduce this to just $1,000. Rob Keldoulis was the biggest individual political donor in 2023-24, contributing $1.1m to the Climate 200 organisation personally and via his private investment company.

CORPORATES
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, CLIMATE 200 PTY LTD

Roy Morgan Poll: ALP and Coalition are now level on two-party preferred terms

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Feb-25

If a Federal Election were held now the result would be a hung parliament and ‘too close to call’, with the ALP on 50% (up 2%) and Coalition on 50% (down 2%) on a two-party preferred basis. The ALP or Coalition would require the support of minor parties and independents to form a minority government, the latest Roy Morgan survey finds. Primary support for the Coalition dropped 2% to 38.5%, the ALP increased 0.5% to 30%, the Greens were unchanged at a 12-month low of 11.5%, One Nation dropped 0.5% to 5.5%, Other Parties were up 0.5% to 4% and Independents increased 1.5% to 10.5%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Plibersek praised nature positive deal with Pocock and Greens as critical before PM scrapped it, documents reveal

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Original article by Dan Jervis-Bardy
The Guardian Australia – Page: Online : 30-Jan-25

A draft Senate program shows that a bill to establish a federal environmental protection agency is listed for debate next Thursday. Documents released via freedom of information laws confirm that Environment Minister Tanya Plibersek reached a written agreement with the Greens and independent senator David Pocock to amend the EPA legislation in late November. Prime Minister Anthony Albanese intervened to put the deal on hold less than 24 hours later. The proposed EPA is part of the federal government’s so-called ‘nature positive’ environmental reforms. Shadow environment minister Jonno Duniam has called for the proposed laws to be scrapped, and says Plibersek and Albanese must state their real intentions regarding the legislation.

CORPORATES
AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ACCI warns of need for cap on spending

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Original article by Sarah Ison
The Australian – Page: 6 : 30-Jan-25

The Australian Chamber of Commerce & Industry will call for federal government spending to be capped at 25 per cent of GDP. The ACCI’s pre-election Agenda for Business policy blueprint will also advocate tax reform, the abolition of stamp duty and changing the definition of a small business to 25 employees or less, compared with the current threshold of 15 employees. CEO Andrew McKellar will use a speech on Thursday to argue that rising government spending is pushing up interest rates and adversely affecting productivity. Data released in late 2024 shows that government spending has risen to a record high of almost 28 per cent of GDP.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Labor axes aspirational 15 per cent super guarantee goal

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Original article by Sarah Ison
The Australian – Page: 4 : 29-Jan-25

The superannuation guarantee is scheduled to increase to 12 per cent in July, and Assistant Treasurer Stephen Jones says the federal government has no plans to further increase it. However, Labor’s national platform in 2023 included setting a ‘pathway’ to increasing the super guarantee to 15 per cent once the initial target of 12 per cent has been reached. Jones says the policy platform is merely a set of principles rather than binding commitments, and Labor has no plans to further increase the super guarantee.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY