AUSTRALIA – POLITICS AND GOVERNMENT

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

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

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

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)

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

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 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

Shorten to keep job as party celebrates new unity

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Original article by Rosie Lewis
The Australian – Page: 5 : 8-Jul-16

The Australian Labor Party’s caucus rules will require a leadership spill, but Opposition Leader Bill Shorten is poised to be re-elected unopposed on 8 July 2016. Shorten emphasised Labor’s "unity of purpose" during a visit to Perth on 7 July. Meanwhile, the party’s Left faction is expected to seek additional representation on the Opposition’s frontbench in the wake of the federal election.

CORPORATES
AUSTRALIAN LABOR PARTY

AAA: Six months to get budget under control

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Original article by Jacob Greber, Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 8-Jul-16

Treasurer Scott Morrison says the Federal Government will still aim to achieve a Budget surplus in 2020-21, in order to avert the loss of Australia’s coveted triple-A credit rating. Standard & Poor’s has downgraded the nation’s credit rating outlook to "negative" and warned that it will closely monitor the government’s fiscal performance over the next 6-12 months. The ratings agency also indicated that Australia’s "AAA" rating may be at risk due to the nation’s rising foreign debt.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, STANDARD AND POOR’S CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET

Turnbull set to win majority

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Original article by David Crowe
The Australian – Page: 1 & 4 : 8-Jul-16

The Australian Labor Party has not yet formally conceded defeat in the 2016 federal election, but Opposition Leader Bill Shorten says the Coalition is now likely to be returned to office. The Coalition appears increasingly likely to attain the 76 lower house seats it needs to govern in its own right, with four seats still undecided. Independent MP Bob Katter has also indicated that he will support the Coalition.

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