AUSTRALIA – POLITICS AND GOVERNMENT

Roy Morgan Poll: Coalition regains narrow lead after Reserve Bank boost proves short-lived: L-NP 50.5% cf. ALP 49.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Mar-25

If a Federal Election were held now the result would be a hung parliament, with the Coalition on 50.5% (up 1.5%) narrowly ahead of the ALP on 49.5% (down 1.5%) on a two-party preferred basis. The Coalition, or the ALP, would require the support of minor parties and independents to form government, the latest Roy Morgan survey finds. This latest weekly poll has not completely reversed the ‘Reserve Bank boost’ but has definitely shown the ‘boost’ to Labor has been significantly softened. The Coalition stretched their primary vote lead, with L-NP support up 3.5% to 40% while ALP support dropped 3% to 28.5%; the Greens were unchanged at 13.5%, One Nation down 1% to 4%, Other Parties unchanged at 3.5% and Independents up 0.5% to 10.5%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY, RESERVE BANK OF AUSTRALIA

National nightmare of teals on a Green pitch

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Original article by Paul Garvey, Perry Williams, Colin Packham, Brad Thompson
The Australian – Page: 1 & 4 : 26-Feb-25

Woodside Energy CEO Meg O’Neill says it would be bad for households, business and the environment if the Greens or the teals hold the balance of power after the federal election. Beach Energy CEO Brett Woods has expressed similar concerns, warning that a minority government could result in "exorbitant power" being given to a small collection of MPs who are focused solely on their own narrow agenda rather than the good of the nation. He contends that electors should vote for either Labor or the Coalition, as the consequences of giving the Greens or teals greater influence would include higher unemployment and severe energy shortages.

CORPORATES
WOODSIDE ENERGY GROUP LIMITED – ASX WDS, BEACH ENERGY LIMITED – ASX BPT, AUSTRALIAN GREENS

Public service’s dirt job for Chalmers

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 26-Feb-25

The federal government is continuing to attract scrutiny over claims that it had asked the Treasury to undertake costings on the Coalition’s proposal to offer tax breaks of up to $20,000 for small businesses. Treasury is not permitted to provide the government of the day with costings on the opposition’s policies. However, a series of emails between senior Treasury officials and the office of Treasurer Jim Chalmers shows that the Treasury was aware that it was modelling Coalition policy. Chalmers has publicly stated that he had asked Treasury to cost the policy; shadow treasurer Angus Taylor has accused him of using the Treasury as his personal "dirt unit".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

Roy Morgan Poll: ALP takes lead on two-party preferred after Reserve Bank cuts interest rates: ALP 51% cf. L-NP 49%

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Feb-25

The latest Roy Morgan survey shows that if a Federal Election were held now the result would be a hung parliament; the ALP is on 51% (up 2.5%) on a two-party preferred basis, just ahead of the L-NP Coalition on 49% (down 2.5%). The ALP or the Coalition would require the support of minor parties and independents to form a government. The ALP gained significant ground on primary support this week, up 3.5% to 31.5%, while the Coalition was down 3% to 36.5%. Support for the Greens increased 1% to 13.5%. Support for One Nation dropped 0.5% to 5%, support for Other Parties dropped 1% to 3.5% and support for Independents was unchanged at 10%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY

Cash splash to increase tax burden

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 6 : 25-Feb-25

Analysis shows that the federal government has made $123.6bn worth of discretionary spending decisions in the three budgets it has handed down since taking office in May 2022. The government has also announced some $20bn worth of election promises since the start of 2025, headlined by the $8.5bn expenditure on Medicare. Independent economist Chris Richardson says the cost of Labor’s spending decisions since taking office will ultimately be borne by taxpayers via ‘bracket creep’. He adds that it will also delay any prospect of further tax cuts by 5-6 years.

CORPORATES
AUSTRALIAN LABOR PARTY

Energy secretary backs nuclear, attacks net zero

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Original article by Colin Packham
The Australian – Page: 4 : 19-Feb-25

The Coalition’s plan to build seven nuclear power stations if it wins the upcoming federal election has received tacit support from the US Energy Secretary, Chris Wright. He has told the Alliance for Responsible Citizenship conference in London that he would love to see Australia embrace uranium, but he says the federal government will need to shrug off its ideological opposition to the energy source. Wright adds that the net zero emissions target of 2050 is a "sinister goal" that has had tremendous costs and no benefits.

CORPORATES
UNITED STATES. DEPT OF ENERGY

Robo-debt officials to be investigated, in anti-corruption commission backflip

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Original article by Olivia Ireland
The Sydney Morning Herald – Page: Online : 19-Feb-25

Former High Court judge Geoffrey Nettle has ruled that National Anti-Corruption Commission should investigate six public officials over their role in the robodebt scandal. Nettle was commissioned to undertake an independent review of the NACC’s June 2024 announcement that it would not pursue an investigation into six individuals who had been referred to it by the robodebt royal commission. The names of the six officials have not been disclosed. The welfare debt recovery scheme was implemented by the former Coalition government, and subsequently deemed to have been unlawful.

CORPORATES
AUSTRALIA. NATIONAL ANTI-CORRUPTION COMMISSION, HIGH COURT OF AUSTRALIA

The one-cut wonder

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Original article by Greg Brown, Jack Quail, Sarah Ison
The Australian – Page: 1 & 4 : 19-Feb-25

Prime Minister Anthony Albanese says the first official interest rate cut in more than four years will have no impact on the timing of the federal election, and that the budget is still set for 25 March. However, the Reserve Bank of Australia’s 25 basis point interest rate cut on Tuesday has provided Albanese with a trigger for an early election. RBA governor ­Michele Bullock has downplayed expectations of further interest rate relief, contending that the central bank’s board will need more evidence that inflation is falling to the middle of its 2-3 per cent target range. The RBA’s preferred measure of underlying inflation fell to 3.2 per cent in the year to December, and the central bank now expects it to fall to 2.7 per cent in June. The election must be held no later than 17 May.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RESERVE BANK OF AUSTRALIA

Cost hit for health: bulk billing going backwards in every seat since ALP came to power

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Original article by Noah Yim
The Australian – Page: 5 : 18-Feb-25

Analysis of data from the Department of Health shows that the national bulk-billing rate for general practitioners fell to 77.3 per cent in 2023-24, compared with 88.3 per cent in 2021-22. It equates to a decline of about 40 million bulk-billed GP visits over this period. Shadow health Anne Ruston says it is particularly concerning that bulk-billing rates have declined in all federal electorates since Labor took office in May 2022; she adds that many Australians simply cannot afford to see a doctor. Health Minister Mark Butler contends that Labor’s record investment in Medicare resulted in an additional six million bulk-billed GP visits between November 2023 and December 2024.

CORPORATES
AUSTRALIA. DEPT OF HEALTH AND AGED CARE

Small business in recession as public service thrives

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Original article by Millie Muroi
Brisbane Times – Page: Online : 18-Feb-25

Deputy Opposition leader Sussan Ley says the number of small businesses that employ people in Australia has fallen from around 953,000 to 922,000 since Labor won the federal election in May 2022. Ley adds that the nation appears to experiencing a small business recession, while the federal government has hired about one permanent public servant for every small business that is collapsing. The Coalition has flagged public service cutbacks if it wins the upcoming election, with Labor having hired an additional 36,000 public servants during its first term in office.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY