AUSTRALIA – POLITICS AND GOVERNMENT

Gary Morgan’s comment on the surge in Roy Morgan Business Confidence in June

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Original article by Gary Morgan, Roy Morgan Research
Market Research Update – Page: Online : 12-Jul-16

Business Confidence was up 7.6 points in June 2016, to 119.5. However, in July it may "take a hit" given the increased size of the crossbench in the Senate. All businesses will have their eyes on the Coalition’s promised corporate tax cuts – reducing the corporate tax rate for large businesses to 25 per cent (from the current 30 per cent) over the next decade. The Coalition’s election victory means this policy is still on the agenda and the prospect of tax cuts over the next few years should continue to support Business Confidence. Investment certainty is crucial for larger businesses undertaking major projects with substantial investment expenditure.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Business Confidence surges in June – up 6.8% to 119.5 prior to Federal Election

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Jul-16

Roy Morgan Research’s Business Confidence jumped 6.8 per cent to 119.5 in June 2016. The rise in Business Confidence comes despite a downward trend on the Australian sharemarket in June – the All Ordinaries closed at the end of June at 5,310.40 (down 2.5 per cent -or 137.4 points – from May 31). However, the large rise in Business Confidence in June was likely more tied to the perception in the closing weeks of the Federal Election campaign that the Coalition would retain Government with a narrow victory – which turned out to be correct – despite a week of uncertainty following the Election. The increased level of Roy Morgan Business Confidence in June is now back above the five-year average (116.7).

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ROY MORGAN RESEARCH LIMITED

Minor parties warn of risks of e-voting

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Original article by Primrose Riordan, Yolanda Redrup
The Australian Financial Review – Page: 3 : 12-Jul-16

The high cost of the 2016 federal election – estimated at almost $A200m – and the lengthy delay in counting votes has prompted renewed debate about electronic voting. Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten support e-voting, but the Nick Xenophon Team and the Australian Greens are concerned about security issues. The latter notes that the potential for hacking of personal devices emerged during the 2015 election in New South Wales.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, AUSTRALIAN GREENS, AUSTRALIAN INFORMATION INDUSTRY ASSOCIATION LIMITED, AUSTRALIA. JOINT STANDING COMMITTEE ON ELECTORAL MATTERS, UNIVERSITY OF MELBOURNE

Coalition set to govern in own right

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Original article by James Massola
The Age – Page: 1 : 12-Jul-16

The Coalition has won the seats of Flynn and Capricornia, giving it 76 seats in the lower house. Meanwhile, the ABC’s election analyst Antony Green expects the Coalition to have about 30 seats in the Senate. Two seats in the lower house and three in the Senate remain undecided, but the Coalition is optimistic that it will have the numbers to pass its industrial relations reforms in a joint sitting of both houses. One Nation will boast three senators, and their support may be crucial for the Coalition to pass legislation to reinstate the Australian Building & Construction Commission and establish a Registered Organisations Commission.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF EMPLOYMENT

Decade of despair: 10 giant surpluses needed to wipe debt

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Original article by David Uren
The Australian – Page: 1/ & 6 : 12-Jul-16

A report produced by Tony Makin and Julian Pearce of Griffith University highlights the challenge confronting the Australian Government in reining in the national debt. They estimate that it would need to achieve surpluses equivalent to 2.2 per cent of GDP each year over the next decade in order to eliminate net debt. This is much higher than the average surpluses achieved by the Coalition government of John Howard and the Labor governments of Bob Hawke and Paul Keating.

CORPORATES
GRIFFITH UNIVERSITY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Plea for senators to back trade

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Original article by Annabel Hepworth
The Australian – Page: 17 & 20 : 11-Jul-16

Trade deals such as the Trans-Pacific Partnership are likely to attract greater scrutiny in federal parliament following the 2016 election, with some crossbenchers expressing concern about such agreements. However, BHP Billiton CEO Andrew Mackenzie has urged the Senate to support trade deals, arguing that they have a wide range of benefits. Whitehaven Coal chairman and former National Party leader Mark Vaile has also stressed the importance of free trade agreements.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, WHITEHAVEN COAL LIMITED – ASX WHC, NATIONAL PARTY OF AUSTRALIA, TRANS-PACIFIC PARTNERSHIP, NICK XENOPHON TEAM, ONE NATION PARTY, MALLESONS STEPHEN JAQUES, BUSINESS 20 (B20), CORRS CHAMBERS WESTGARTH, INTERNATIONAL CHAMBER OF COMMERCE, MONASH UNIVERSITY. APEC STUDY CENTRE, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, HOST-PLUS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. PRODUCTIVITY COMMISSION, WORLD TRADE ORGANIZATION, GROUP OF TWENTY (G-20)

Leaders plan reshuffles to their teams

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 11-Jul-16

The Coalition and the Opposition will make changes to their frontbenches before federal parliament resumes in August 2016. Prime Minister Malcolm Turnbull has indicated that there will be no significant changes to the Coalition’s frontbench, although there is speculation that Sussan Ley will lose the health portfolio. Three portfolios in the outer ministry are also vacant after the incumbents lost their seats in the election.

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

One Nation may pull the plug on renewable energy

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Original article by Graham Lloyd
The Australian – Page: 6 : 11-Jul-16

The Coalition and the Australian Labor Party both support the introduction of renewable energy targets. However, a rise in electricity prices in some states may make the introduction of renewable energy targets more difficult, while One Nation opposes such targets and wants renewable energy subsidies to be abolished. Climate Institute CEO John Connor has cautioned against allowing clean energy and climate reforms to be derailed.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ONE NATION PARTY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED, AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, AUSTRALIAN ENERGY MARKET COMMISSION

PM joins esteemed company in living on electoral knife’s edge

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Original article by Jared Owens
The Australian – Page: 4 : 11-Jul-16

The Coalition seems set to win the 2016 federal election with the slimmest majority on a two-party preferred basis in almost eight decades. It currently boasts 50.13 per cent of the two-party preferred vote, with counting votes not yet complete. Analysis shows that there have been only four elections since 1937 in which a party won the popular vote with a margin of less than 0.5 per cent.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

PM faces budget fight after win

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 11-Jul-16

Cabinet secretary Arthur Sinodinos says the Coalition has a mandate for its Budget measures after winning the 2016 federal election. He has also downplayed the impact that proposed superannuation reforms had on the election result. The super reforms are likely to be a key issue on the agenda for a party-room meeting on 18 July, with the $A500,000 lifetime cap on contributions likely to come under particular scrutiny. There is also growing acceptance within the Coalition that its 10-year policy to reduce the company tax rate will not pass the Senate in its entirety.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA