AUSTRALIA – POLITICS AND GOVERNMENT

Economy on the rise: Morrison

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Original article by David Uren
The Australian – Page: 1 & 4 : 20-Jul-17

Federal Treasurer Scott Morrison will address a conference in Melbourne on 20 July 2017. He will note that key indicators – such as business and consumer sentiment, corporate profits and job advertisements – show that the Australian economy is gaining strength. Morrison will also caution against trying to return the Budget to surplus too quickly, as this could potentially stall economic growth. Meanwhile, Morrison argues that although Australia’s gross debt now exceeds $A500bn, it would be closer to $A1trn if the Australian Labor Party was still in office.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, RESERVE BANK OF AUSTRALIA, INTERNATIONAL MONETARY FUND

Jury out on Turnbull security overhaul

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 19-Jul-17

Professor John Blaxland of the Australian National University is among those to have questioned the merits of the Federal Government’s move to create a national security "super-portfolio". Immigration and Border Protection Minister Peter Dutton will be in charge of the new Department of Home Affairs, which will embrace his existing portfolio as well as agencies such as ASIO, the Australian Federal Police and AUSTRAC. Some members of the Liberal Party’s moderate faction have also expressed reservations about the changes.

CORPORATES
AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN CRIMINAL INTELLIGENCE COMMISSION, AUSTRALIA. OFFICE OF TRANSPORT SECURITY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY, AUSTRALIA. OFFICE OF THE INSPECTOR-GENERAL OF INTELLIGENCE AND SECURITY, AUSTRALIA. INDEPENDENT NATIONAL SECURITY LEGISLATION MONITOR, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF DEFENCE

MPs rush to confirm true-blue credentials

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Original article by Rosie Lewis
The Australian – Page: 1 & 5 : 19-Jul-17

Federal MPs who were born overseas have moved to clarify that they are eligible to hold seats in Parliament after Greens senator Larissa Waters was forced to resign after discovering that she had dual citizenship. Waters was born in Canada but was not aware that she was a Canadian citizen. Greens senator Scott Ludlam also resigned recently after discovering that he still held New Zealand citizenship. The resignation of Waters and Ludlam means the Government needs the support of just nine non-Coalition senators to pass bills, but cross-benchers have cautioned against taking advantage of this.

CORPORATES
AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN ELECTORAL COMMISSION, HIGH COURT OF AUSTRALIA, COURT OF DISPUTED RETURNS, AUSTRALIAN DEMOCRATS

PM to opt for security super agency

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 18-Jul-17

Prime Minister Malcolm Turnbull appears set to go ahead with the creation of a new national security "super-portfolio". The proposed new department, which would be headed by Immigration Minister Peter Dutton, would see Dutton assume control of agencies such as the Australian Federal Police and ASIO, along with border protection. The concept does not have total support within the Coalition, with Defence Minister Marise Payne and Foreign Minister Julie Bishop among those to have previously expressed misgivings about the idea.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF DEFENCE, GREAT BRITAIN. HOME OFFICE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Queensland denies power price-gouging

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Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 18-Jul-17

Queensland’s Energy Minister Mark Bailey has rejected claims that CS Energy and Stanwell Corporation are involved in "price gouging". The allegations were raised by Federal Energy Minister Josh Frydenberg, who has asked the Australian Energy Regulator to investigate the two state-owned power companies. Bailey says they follow the same rules as privately-owned generators, and that Frydenberg is just trying to divert attention away from the Federal Government’s internal ructions on energy policy.

CORPORATES
QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY, CS ENERGY LIMITED, STANWELL CORPORATION LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, RIO TINTO LIMITED – ASX RIO, SUN METALS CORPORATION PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY

A union merger that will cost us all

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Original article by
The Australian Financial Review – Page: 38 : 14-Jul-17

The proposed merger between the Construction, Forestry, Mining & Energy Union and two smaller unions will strengthen the union movement’s influence on the Australian economy. An enlarged CFMEU would have unprecedented control over the supply chain from "pit to port" across the nation’s resources sector. While the merger will be welcomed by the Australian Labor Party, a merger in the corporate sector that would result in a similar monopoly over labour supply would attract scrutiny from the competition regulator. Editorial.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, TEXTILE, CLOTHING AND FOOTWEAR UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, BORAL LIMITED – ASX BLD, DE MARTIN AND GASPARINI PTY LTD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CHEVRON CORPORATION

Bosses face super gap crackdown

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Original article by Michael Roddan
The Australian – Page: 1 & 5 : 14-Jul-17

The Australian Government will take legislative action to close a loophole that allows companies to reduce compulsory superannuation contributions if the worker has opted to make voluntary contributions via salary-sacrificing. At present employers can legally pay less than 9.5 per cent of an employee’s salary into their super fund by basing it on the worker’s post-sacrificing wage. The reform is one of several recommendations of a report that was jointly produced by several regulatory agencies.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. FAIR WORK OMBUDSMAN, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN

Tax blitz on lawyers, accountants

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Original article by Duncan Hughes, Joanna Mather
The Australian Financial Review – Page: 1 & 8 : 14-Jul-17

The Australian Government’s taskforce on the black economy is slated to release its final recommendations in October 2017. The head of the taskforce, Michael Andrew, has proposed greater scrutiny of lawyers and accountants as part of the effort to combat the cash economy, which is estimated to be worth around $A30bn. The taskforce has examined a number of options for addressing the issue, including a ban on cash transactions exceeding $A10,000, providing incentives for companies to shift to non-cash business models and offering an amnesty for cash-only businesses that transition to electronic payments.

CORPORATES
AUSTRALIAN TAXATION OFFICE, KPMG AUSTRALIA PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED, AUSTRALIA. DEPT OF FINANCE, PROPERTY COUNCIL OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, THE TAX INSTITUTE, NATIONAL PRESS CLUB (AUSTRALIA)

Tax good for competition: Morrison

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Original article by Andrew Tillett, Jacob Greber
The Australian Financial Review – Page: 3 : 14-Jul-17

Treasurer Scott Morrison had claimed that limiting the Federal Government’s bank levy to the five major banks would boost competition in the banking sector. However, smaller banks have been increasing their interest rates on higher-risk products such as interest-only loans. Shadow treasurer Chris Bowen says Morrison’s claim that the levy would enhance competition is "complete rubbish".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, STANDARD AND POOR’S FINANCIAL SERVICES LLC, MOODY’S INVESTORS SERVICE INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MORTGAGE CHOICE LIMITED – ASX MOC

‘Lift your gas exploration bans’

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Original article by Rosie Lewis
The Australian – Page: 1 & 2 : 13-Jul-17

Federal Energy Minister Josh Frydenberg will use the Council of Australian Governments meeting on 14 July to urge state and territory energy ministers to endorse the recommendations of the Finkel energy review. He will also urge Victoria and the Northern Territory to overturn their moratoriums on onshore gas development. Victorian Energy Minister Lily D’Ambrosio argues that Australia’s current level of gas exports is not sustainable and is resulting in higher prices for domestic users. She favours the introduction of a clean energy target rather than increased gas production in Victoria.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, TESLA INCORPORATED, NEOEN, AUSTRALIAN ENERGY COUNCIL, ENERGY NETWORKS ASSOCIATION OF AUSTRALIA, AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION