AUSTRALIA – POLITICS AND GOVERNMENT

Unis need big shakeup: Labor elder

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Original article by Tim Dodd
The Australian Financial Review – Page: 1 & 8 : 26-Sep-16

Former federal education minister John Dawkins says his 1987 higher education reforms are no longer relevant and the sector needs a new reform process. Amongst other things, Dawkins has proposed the deregulation of fees, arguing that universities should not have to charge the same fees for courses that are not comparable. He has also urged greater competition in the sector and urged the Australian Labor Party to co-operate with the Coalition on higher education reform.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, THE GROUP OF EIGHT LIMITED, AUSTRALIA. DEPT OF EDUCATION AND TRAINING

Welfare crackdown tipped for frontline

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Original article by Rick Morton, Sarah Martin
The Australian – Page: 1 & 4 : 26-Sep-16

The Australian Government is examining a range of options for welfare reform, including giving people who run approved unemployment programs the power to suspend the payments of participants who lack a valid reason for non-attendance. Meanwhile, the Nick Xenophon Team has yet to decide whether it will support the Government’s plan to impose a four-week waiting period before some people below the age of 25 are eligible to receive Newstart. The support of NXT may be crucial in passing the proposed reform.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF HUMAN SERVICES, NICK XENOPHON TEAM, ONE NATION PARTY, BROTHERHOOD OF ST LAURENCE, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Diversity laws ‘outdated’

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 26-Sep-16

Communications Minister Mitch Fifield argues that existing cross-media ownership laws are outdated as they were introduced before the development of the internet. He adds that the internet has made the issue of media diversity less important, and the continued viability of media companies is the greatest threat to diversity. The Senate committee that is reviewing the Federal Government’s media reform bill accepted submissions until 23 September 2016.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, ONE NATION PARTY

Media reform deadline looms

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Original article by Jake Mitchell
The Australian – Page: 19 : 22-Sep-16

The Senate inquiry into proposed cross-media ownership reforms is slated to report its findings on 7 November 2016. Media companies have been given until 23 September to update the submissions they made to a previous inquiry prior to the federal election. Meanwhile, the Opposition has signalled that its stance on abolition of the "two-of-three rule" has not changed following the retirement of Stephen Conroy, who supported retaining the regulation. The Australian Labor Party supports scrapping the "reach rule".

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. SENATE STANDING COMMITTEE ON ENVIRONMENT, COMMUNICATIONS, INFORMATION TECHNOLOGY AND THE ARTS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, NATIONAL RUGBY LEAGUE, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, NATIONAL FOOTBALL LEAGUE, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, LIBERAL PARTY OF AUSTRALIA

Rise for $38-a-day Newstart ruled out

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Original article by David Crowe
The Australian – Page: 4 : 21-Sep-16

It is estimated that about 770,000 people currently receive the Newstart payment, and the Australian Council of Social Service advocates increasing it by $A53 a week. However, Social Services Minister Christian Porter has rejected calls for an increase in Newstart, arguing that while the base payment is set at $A38 per day, the majority of recipients also receive other welfare payments. Porter has also defended the Budget measure which requires people to wait four weeks before being eligible to claim the Newstart allowance.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN GREENS

Company tax cuts ‘make bracket creep inevitable’

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Original article by David Uren
The Australian – Page: 1 & 4 : 20-Sep-16

The Australian Government is committed to limiting overall tax revenue to 23.9 per cent of GDP. Its plan to progressively reduce the company tax rate over 10 years is intended to have no impact on overall tax revenue. As a result, the lower company tax revenue will have to be offset by higher revenue from other taxes. The Grattan Institute warns that this most likely will mean an increase in income tax revenue, which CEO John Daley notes is the only source of tax revenue that increases as a percentage of GDP.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GRATTAN INSTITUTE, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY

Timing of bank inquiry will limit scrutiny: ALP

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Original article by Primrose Riordan
The Australian Financial Review – Page: 7 : 19-Sep-16

The Opposition has questioned the timing of a scheduled appearance by the "big four" bank CEOs before a parliamentary committee. They will front the inquiry in early October 2016, which coincides with both school holidays and a non-sitting week for Parliament. The Australian Labor Party also notes that it also covers the so-called "blackout period" for some of the banks, which will restrict the amount of information the CEOs can publicly disclose prior to the release of their financial results.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, FINANCE AND PUBLIC ADMINISTRATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Media changes conservative, says global boss

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Original article by Max Mason
The Australian Financial Review – Page: 27 : 19-Sep-16

IPG Mediabrands’ global CEO Henry Tajer argues that the Federal Government’s proposed cross-media ownership reforms do not go far enough. He say the reforms should encourage consolidation in the sector, noting that Australia has too many media companies given the nation’s population. Tajer adds that the reforms should also take into account global companies that already have a presence in Australia – such as Facebook and Google – and ones that will enter the market in coming years.

CORPORATES
IPG MEDIABRANDS, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, TWITTER INCORPORATED, SNAPCHAT INCORPORATED, AUSTRALIAN LABOR PARTY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Bank chiefs to face three-hour grilling

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Original article by Fleur Anderson
The Australian Financial Review – Page: 3 : 16-Sep-16

The CEOs of Australia’s "big four" banks will front a parliamentary committee over three days in October 2016. Each CEO is slated to appear before the inquiry for three hours, under the Federal Government’s new policy of requiring banking industry leaders to front up to parliament once a year. However, the Opposition has criticised the timing of the CEOs’ parliamentary testimony, given that it will be during school holidays and in a week when parliament is not sitting.

CORPORATES
AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, FINANCE AND PUBLIC ADMINISTRATION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, RESERVE BANK OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA. DEPT OF THE TREASURY

Super done, next task is growth

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 16-Sep-16

Federal Treasurer Scott Morrison will use a speech on 16 September 2016 to call for structural economic reforms. He will argue that action is needed to boost the earnings of the nation, individuals and businesses, citing the environment of low inflation, interest rates, wages growth and economic growth. Meanwhile, Morrison has urged the Opposition to support superannuation reforms after the Coalition agreed to abandon its proposed lifetime cap on non-concessional contributions. This had been a key sticking point for the Australian Labor Party.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA