AUSTRALIA – POLITICS AND GOVERNMENT

Coalition fuels Brexit sentiment: Shorten

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 29-Jun-16

Federal Opposition Leader Bill Shorten gave a speech at the National Press Club on 28 June 2016. He warned that the Coalition’s policies will lead to the social discontent that has led to the UK’s vote to leave the European Union and the popularity of US presidential candidate Donald Trump. In particular, Shorten noted the Coalition’s plan to progressively scale back the company tax rate while reducing funding for health, education and welfare services. He added that the political and economic lesson from "Brexit" must not be ignored.

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

Developers will cut jobs if Labor wins

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Original article by Michael Bleby
The Australian Financial Review – Page: 6 : 27-Jun-16

Research by the Urban Development Institute of Australia has found that the Federal Opposition’s proposed changes to the negative gearing regime would prompt many residential property developers to shed staff and build fewer homes. The survey also found that 72 per cent of respondents expect that rents would rise as a result of the changes to negative gearing, while more than 50 per cent expect that house prices would fall.

CORPORATES
URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA, AUSTRALIAN LABOR PARTY, SQM RESEARCH PTY LTD, PROPERTY COUNCIL OF AUSTRALIA LIMITED, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, STOCKLAND – ASX SGP, NATIONAL SHELTER

Find that extra faith as true believers: Shorten

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Original article by Rosie Lewis
The Australian – Page: 7 : 27-Jun-16

The Australian Labor Party held its second federal campaign launch on 26 June 2016, on the same day that the Coalition officially launched its election campaign. Opposition Leader Bill Shorten said the future of Medicare will be a key theme for Labor during the remainder of the election campaign, and he warned of the risks of re-electing a "divided" Coalition government.

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

PM’s Brexit pitch for stability

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 27-Jun-16

Prime Minister Malcolm Turnbull officially launched the Coalition’s election campaign on 26 June 2016. He warned that voting for minor political parties could result in the Opposition forming a minority government, arguing that the economic and financial market uncertainty created by the UK’s vote to leave the European Union means the Coalition is best-placed to manage the Australian economy. Turnbull also announced some $A390m of new spending measures.

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

$123bil Green splurge

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Original article by Annika Smethurst, Ellen Whinnett
Herald Sun – Page: 1 & 10 : 24-Jun-16

The Australian Greens have announced a range of election policies that will collectively cost some $A123bn. In contrast, the Coalition and the Australian Labor Party have respectively announced $A10.5bn and $A20bn worth of new spending measures during the election campaign. The Greens’ policies include an increase in the pension, which has been costed at $A10bn. The party also proposes the introduction of a tax on soft drinks, a new carbon tax, a tax on banks and a reduction in university fees. Greens leader Richard Di Natale says the policies will be funded via revenue measures and spending cuts.

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

Keating slams unaffordable tax cut

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Original article by Jacob Greber
The Australian Financial Review – Page: 7 : 24-Jun-16

Former prime minister Paul Keating has criticised the Coalition’s proposal to progressively cut the corporate tax rate from 30 per cent to 25 per cent. He described the tax cut as irresponsible and unaffordable. Keating warned that it would damage Australia’s fiscal position because of lower tax revenue. According to Paul Abbey, a partner at PricewaterhouseCoopers, low corporate taxes are necessary to attract foreign investment, although it can take decades for the benefits of such a policy to be noticeable.

CORPORATES
PRICEWATERHOUSECOOPERS, BUSINESS COUNCIL OF AUSTRALIA, VICTORIA UNIVERSITY, AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF ECONOMICS AND GOVERNMENT, LOWY INSTITUTE FOR INTERNATIONAL POLICY, AUSTRALIA. DEPT OF THE TREASURY, UNIVERSITY OF NEW SOUTH WALES

RBA warning on Brexit

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Original article by Phillip Coorey, James Chessell
The Australian Financial Review – Page: 1 & 4 : 24-Jun-16

Prime Minister Malcolm Turnbull says there will be a global economic shock if the UK votes to leave the European Union, adding that the Coalition is best-placed to manage the Australian economy during such turmoil. Meanwhile, both major political parties have been briefed by the heads of the Reserve Bank, the Australian Prudential Regulation Authority and the Treasury on the likely impact of a "Brexit" on the local financial market. The outcome of the referendum is tipped to be very close.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIA. DEPT OF THE TREASURY, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, EUROPEAN COMMISSION, STANDARD AND POOR’S ASX 200 INDEX, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

‘Mediscare’ delivers poll boost for Labor

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 24-Jun-16

The Australian Labor Party believes that it could gain more seats than expected in the 2016 federal election due to concerns about the privatisation of Medicare under a Coalition government. Meanwhile, Prime Minister Malcolm Turnbull sought to deflect attention from Medicare on 23 June by continuing to warn of an influx of asylum seekers if Labor wins the election, while Opposition Leader Bill Shorten reiterated that Labor will protect weekend penalty rates.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, NICK XENOPHON TEAM, RETAIL TRADERS ASSOCIATION, VICTORIA. COUNTRY FIRE AUTHORITY, VICTORIA. DEPT OF PREMIER AND CABINET

Turnbull vows new laws to protect CFA volunteers

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Original article by Matthew Knott, Richard Willingham, Nicole Hasham
The Age – Page: 6 : 24-Jun-16

Prime Minister Malcolm Turnbull visited the seat of Corangamite in Victoria on 23 June 2016, where he said that amending the Fair Work Act to protect volunteer firefighters will be a priority for the Coalition if it is re-elected. Turnbull praised the Country Fire Authority, which is the subject of a power grab by the United Firefighters Union. Meanwhile, Opposition Leader Bill Shorten reiterated that the CFA dispute is a state issue, and suggested that Turnbull has only intervened due to the federal election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, VICTORIA. COUNTRY FIRE AUTHORITY, UNITED FIREFIGHTERS’ UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY

CFA deal pushed back until after poll result

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Original article by Lucille Keen
The Australian Financial Review – Page: 9 : 23-Jun-16

The board of Victoria’s Country Fire Authority (CFA) has decided to delay the implementation of the United Firefighters Union’s enterprise agreement until 8 July 2016. The State Government insists that the CFA board must accept the agreement. Volunteer firefighters have raised objections to a number of provisions in the agreement. Federal Employment Minister Michaelia Cash said the Coalition will prevent the implementation of the deal if it is re-elected.

CORPORATES
VICTORIA. COUNTRY FIRE AUTHORITY, UNITED FIREFIGHTERS’ UNION OF AUSTRALIA, SUPREME COURT OF VICTORIA, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN HUMAN RIGHTS COMMISSION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET