AUSTRALIA – POLITICS AND GOVERNMENT

Consultancy spend alarms union, MPs

roymorgansocial Leave a comment

Original article by Edmund Tadros, Tom McIlroy
The Australian Financial Review – Page: 7 : 22-Jan-18

MPs are concerned about the level of money that federal government departments are spending on consultants and contractors. Almost 5,000 consultants are employed across government agencies, and the Community & Public Sector Union estimates that $A380 million could be saved each year by replacing them with permanent public servants. Accenture and the four major accounting firms are estimated to have made more than $A3 billion over a five-year period from federal government contracts.

CORPORATES
COMMUNITY AND PUBLIC SECTOR UNION, ACCENTURE AUSTRALIA LIMITED, KPMG AUSTRALIA PTY LTD, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, ERNST AND YOUNG, DELOITTE TOUCHE TOHMATSU LIMITED, AUSTRALIAN NATIONAL AUDIT OFFICE, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. JOINT COMMITTEE OF PUBLIC ACCOUNTS AND AUDIT, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF HUMAN SERVICES, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. NATIONAL DISABILITY INSURANCE AGENCY, VICTORIA. DEPT OF ECONOMIC DEVELOPMENT, JOBS, TRANSPORT AND RESOURCES

Cut tax to create jobs: CEOs

roymorgansocial Leave a comment

Original article by Joanna Mather, Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 22-Jan-18

Walmart is among the US companies that are increasing their wage rates in response to the Trump administration’s tax reforms. Federal Treasurer Scott Morrison says Australian now needs to "catch" up to the US with regard to tax reform, noting that Labor’s opposition to the Government’s company tax package means the nation has missed the opportunity to take the lead on tax reform. Meanwhile, Qantas CEO Alan Joyce and MYOB CEO Tim Reed are among the business leaders who have emphasised the economic benefits of reducing the corporate tax rate.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, WAL-MART STORES INCORPORATED, QANTAS AIRWAYS LIMITED – ASX QAN, MYOB GROUP LIMITED – ASX MYO, XERO LIMITED – ASX XRO, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN LABOR PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, APPLE INCORPORATED, AMP LIMITED – ASX AMP, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Dastyari poised for union PR job

roymorgansocial Leave a comment

Original article by Andrew Clennell, Rachel Baxendale
The Australian – Page: 2 : 19-Jan-18

Australian Labor Party senator Sam Dastyari has advised that he will formally resign from the upper house in late January, more than a month after announcing his resignation. There is speculation that Dastyari is holding talks about taking up a role at Essential Media Communications, which undertakes public relations campaigns on behalf of many unions in New South Wales. Meanwhile, Labor Leader Bill Shorten has praised the performance of Kristina Keneally – Dastyari’s likely replacement in the Senate – in the recent Bennelong by-election.

CORPORATES
AUSTRALIAN LABOR PARTY, ESSENTIAL MEDIA COMMUNICATIONS PTY LTD, UNIONS NSW, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, COMMUNIST PARTY (CHINA)

Senate rivals clear path for Keneally’s prize

roymorgansocial Leave a comment

Original article by Andrew Clennell, Brad Norington
The Australian – Page: 2 : 18-Jan-18

The Transport Workers’ Union’s national secretary Tony Sheldon and United Voice’s Tara Moriarty have chosen not to seek nomination to replace Labor’s Sam Dastyari in the Senate. Former New South Wales premier Kristina Keneally now seems certain to replace Dastyari. She gained 45.12 per cent of the two-party-preferred vote in the Bennelong by-election in late 2017. Meanwhile, there is speculation that Labor will offer Sheldon a Senate seat at the next federal election, and Moriarty is tipped to contest the next state election.

CORPORATES
AUSTRALIAN LABOR PARTY, TRANSPORT WORKERS’ UNION, UNITED VOICE, HEALTH SERVICES UNION OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA

Terror, trade top Tokyo agenda

roymorgansocial Leave a comment

Original article by Rosie Lewis
The Australian – Page: 2 : 18-Jan-18

Australian Prime Minister Malcolm Turnbull will meet with members of Japan’s National Security Council during a brief visit to Japan on 18 January. Turnbull will discuss issues such as joint military training exercises and Japan’s measures to protect civilians from the threat of terrorist attacks on its public transport system. Turnbull will also address Japanese and Australian business leaders during his trip, and he will call for action to finalise the proposed Trans-Pacific Partnership.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, JAPAN. NATIONAL SECURITY COUNCIL, JAPAN. OFFICE OF THE PRIME MINISTER, TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, CANADA. OFFICE OF THE PRIME MINISTER

Health premium rises tipped

roymorgansocial Leave a comment

Original article by Sarah-Jane Tasker, Rachel Baxendale
The Australian – Page: 15 : 18-Jan-18

There is speculation that private health insurance premiums will rise by an average of four per cent in 2018. Macquarie Group analysts estimate that Medibank and NIB will increase their premiums by an average of 3.85 per cent and 3.8 per cent respectively. Macquarie has increased its share price targets for both insurers. Federal Health Minister Greg Hunt expects the lowest increase in health insurance premiums for 17 years. He will announce the premium increases in the next several weeks.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN MEDICAL ASSOCIATION LIMITED

Wesfarmers: Tax cut spurs wages growth

roymorgansocial Leave a comment

Original article by Joanna Mather, Brad Thompson, Andrew Tillett
The Australian Financial Review – Page: 1 & 8 : 15-Jan-18

A number of US companies have announced plans to increase minimum pay rates or provide bonuses to staff in response to the Trump administration’s company tax cuts. The Australian Government will reintroduce its across-the-board company tax cuts package when parliament resumes in February, and Revenue Minister Kelly O’Dwyer has stressed the need for the nation’s tax regime to remain competitive. Wesfarmers CEO Rob Scott and the Group of 100’s Australian president Andrew Porter argue that company tax cuts could boost local wages.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, WESFARMERS LIMITED – ASX WES, GROUP OF 100 INCORPORATED, WAL-MART STORES INCORPORATED, FIAT CHRYSLER AUTOMOBILES NV, AMERICAN AIRLINES INCORPORATED, AT&T CORPORATION, BANK OF AMERICA CORPORATION, WELLS FARGO BANK, REPUBLICAN PARTY (UNITED STATES), COLES SUPERMARKETS AUSTRALIA PTY LTD, TARGET AUSTRALIA PTY LTD, BUNNINGS GROUP LIMITED, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI

PM, Shorten to go to battle on cost of living

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 7 : 15-Jan-18

Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten will return from their summer break in the week beginning 15 January. They will both highlight their parties’ policies aimed at addressing electors’ concerns about the rising cost of living. Turnbull and Shorten will both also start the new political year with their leadership credentials again under scrutiny, while Labor may face the prospect of having to contest up to four by-elections as a result of the dual citizenship crisis.

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

Apprentices ripped off

roymorgansocial Leave a comment

Original article by Renee Viellaris
The Courier-Mail – Page: 19 : 12-Jan-18

U to 10,000 apprentices in Queensland may have been underpaid since 2014 because the Fair Work Ombudsman published wage rates that were incorrect. The mistake could result in apprentices receiving wage increases of up to $A150 a week. It could also cost taxpayers up to $A30m, and the Queensland Government is refusing to contribute to its federal counterpart’s compensation package.

CORPORATES
AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL COURT OF AUSTRALIA, QUEENSLAND. DEPT OF EDUCATION AND TRAINING

WA Lib leader issues political suicide GST warning to Turnbull

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 5 : 12-Jan-18

Western Australia’s Opposition Leader Mike Nahan is generally supportive of the Productivity Commission’s recommendations regarding the distribution of goods and services tax revenue. However, he has suggested that the Australian Capital Territory and the Northern Territory should be directly funded by the Federal Government, and GST revenue should be distributed solely to the states. Nahan also says any attempt by the Federal Government to make changes to the GST cannot succeed without the Australian Labor Party’s support.

CORPORATES
LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, NORTHERN TERRITORY. DEPT OF THE CHIEF MINISTER