AUSTRALIA – POLITICS AND GOVERNMENT

Turnbull moves to shut court doors on anti-coal activists

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Original article by Dennis Shanahan
The Australian – Page: 1 & 6 : 25-Oct-16

The Australian Government has flagged action to crack down on environmental activists’ use of the court system to block resources projects. Prime Minister Malcolm Turnbull has raised the possibility of reviving legislation aimed at curbing vexatious litigation by environmental groups. The mooted crackdown follows warnings from India’s Power Minister Piyush Goyal that opposition to Adani’s Carmichael coal mine could affect his nation’s future investment in Australia. The campaign against Carmichael has received funding from at least one US organisation that has links to John Podesta, who is heading the presidential election campaign of Hillary Clinton.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, ADANI MINING PTY LTD, INDIA. MINISTRY OF POWER, DEMOCRATIC PARTY (UNITED STATES), GREENPEACE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, SANTOS LIMITED – ASX STO, AUSTRALIA. DEPT OF FINANCE, SUNRISE PROJECT, SANDLER FOUNDATION

Hanson to back building watchdog

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Original article by Ean Higgins
The Australian – Page: 4 : 25-Oct-16

One Nation’s caucus will decide whether to support legislation to reinstate the Australian Building & Construction Commission on 7 November 2016. Party leader Pauline Hanson has given indications that One Nation is likely to back the legislation, which has already been passed by the lower house. Hanson says many business owners have expressed concern about the bullying tactics used by unions. Hanson also supports allowing the Adler shotgun to be legally imported.

CORPORATES
ONE NATION PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL DEMOCRATIC PARTY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Morrison targets cost of housing

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Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 24-Oct-16

Federal Treasurer Scott Morrison notes that the proportion of Australians who own their home has fallen from 71 per cent to 67 per cent over the last two decades. However, he will argue in a speech on 24 October 2016 that housing supply is the main factor that is affecting housing affordability. He will also say that a range of other factors rather than the impact of property investors is affecting housing affordability. Morrison will also flag a push for greater co-operation with state governments to make more land available for residential development.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, COUNCIL ON FEDERAL FINANCIAL REGULATION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Markets expect cool response to downgrade

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Original article by David Uren
The Australian – Page: 6 : 21-Oct-16

Borrowing costs for Australian banks and the state and federal governments have not increased as a result of S&P Global Ratings’ downgrading of the nation’s credit rating outlook to negative earlier in 2016. The loss of Australia’s "AAA" credit rating would also be unlikely to have an impact on borrowing costs, according to some financial market watchers. Treasurer Scott Morrison maintains that the Federal Government’s budget repair strategy is crucial to retaining the coveted triple-A credit rating. Australia also has a triple-A rating from Moody’s Investor Services and Fitch Ratings.

CORPORATES
S&P GLOBAL RATINGS, AUSTRALIA. DEPT OF THE TREASURY, MOODY’S INVESTORS SERVICE INCORPORATED, FITCH RATINGS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, DEUTSCHE BANK AG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Turnbull lifts sights on gun imports

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Original article by David Crowe
The Australian – Page: 4 : 20-Oct-16

The Coalition is divided on the issue of the relaxation of gun laws. Prime Minister Malcolm Turnbull has accused the Australia Labor Party of "demonising" gun owners. Queensland Premier Annastacia Palaszczuk has warned against changes in regulations which would allow the importation of seven-shot Adler gun into Australia, as suggested by Liberal Democratic Party senator David Leyonhjelm.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL DEMOCRATIC PARTY, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, VICTORIA. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, GUN CONTROL AUSTRALIA

Fear grows AAA rating to be lost

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Original article by David Uren
The Australian – Page: 1 & 5 : 20-Oct-16

Treasury secretary John Fraser has warned that every Australian would be affected by a downgrade of the nation’s "AAA" credit rating. The Federal Government is hopeful that the mid-year budget update will feature a modest decline in the deficit, although there are concerns that this may not be sufficient to avert a rating downgrade. Craig Michaels of S&P Global Ratings has reiterated the need for the Government to implement budget savings measures. Meanwhile, Treasury is not expected to take into account the recent rise in coal prices when preparing economic forecasts for the mid-year update.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, S&P GLOBAL RATINGS, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM

NXT nixes big business tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 7 : 19-Oct-16

The Nick Xenophon Team’s three senators will vote against the Federal Government’s $A48bn package to progressively reduce the company tax rate to 25 per cent over 10 years. The Government requires the support of at least nine of the 11 crossbenchers for its proposal to reduce the tax rate for all companies with turnover of at least $A10m, as the Opposition only favours a tax cut for companies whose turnover is no more than $A2m. Business groups have called for the implementation of the full tax reform package.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, ESSENTIAL MEDIA COMMUNICATIONS PTY LTD

ABCC bill could shut out companies

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 19-Oct-16

The Federal Government will not back down on its plan to make a national building code retrospective as part of its legislation to reinstate the Australian Building & Construction Commission. The code will apply to all enterprise agreements that have been made since 2014, and compliance with the code will be a condition of being granted federal construction contracts. However, some pattern bargaining agreements struck by the Construction, Forestry, Mining & Energy Union and the Electrical Trades Union in Victoria and Queensland would not comply with the proposed code.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, ELECTRICAL TRADES UNION, AUSTRALIA. DEPT OF EMPLOYMENT

ABCC bill passes House of Reps

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Original article by
Skynew.com.au – Page: Online : 19-Oct-16

The Federal Government’s bill to reinstate the Australian Building & Construction Commission was passed by the House of Representatives on 18 October 2016. The Government is negotiating with crossbenchers to pass the bill in the Senate. Meanwhile, Prime Minister Malcolm Turnbull says the ABCC bill and the registered organisations bill are aimed at boosting the economy rather than targeting unions. However, Coalition backbench MP Andrew Laming has questioned whether unions are still necessary.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, LIBERAL DEMOCRATIC PARTY, NICK XENOPHON TEAM, COUNCIL OF AUSTRALIAN GOVERNMENTS

Senate rides shotgun on IR bills

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 2 : 18-Oct-16

The Australian Government is hopeful that all but one senate crossbencher, Jacqui Lambie, will be open to supporting its bills to reinstate the Australian Building & Construction Commission and establish a Registered Organisations Commission. However, some crossbenchers have a list of policies they want implemented in return for their support. Amongst other things, Nick Xenophon will press for imported building materials to be subject to local building standards and increased protection for whistleblowers, while David Leyonhjelm wants importation of the seven-shot Adler shotgun to be legalised.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, HOME AUSTRALIA PTY LTD, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION