AUSTRALIA – POLITICS AND GOVERNMENT

Greens canned for failure to take fight to IR umpire

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Original article by Sid Maher, Mark Coultan
The Australian – Page: 6 : 18-May-16

Australian Greens MP Adam Bandt has defended the party after revelations that it did not make a submission to the Fair Work Commission on the issue of weekend penalty rates. Bandt says it is unusual for political parties to make submissions to the FWC, and he has suggested that the Opposition made a submission merely to be seen to have done something on the issue. The Greens have vowed to introduce legislation to protect weekend penalty rates if the FWC recommends reducing them.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, TASMANIAN GREENS, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Super limit to hit retirees, Costello says

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Original article by Sally Patten, Jonathan Shapiro
The Australian Financial Review – Page: 1 & 6 : 18-May-16

Future Fund chairman and former federal treasurer Peter Costello says the superannuation policies of both the Coalition and the Australian Labor Party are unlikely to be introduced due to opposition from the Greens. He has also warned that the Government’s proposal to limit tax-free super savings to $A1.6m will not provide retirees with the amount of income it expects, as the forecasts are based on a rate of return of 5.5 per cent. In contrast, the yield on 10-year Australian government recently fell to a record low of 2.2 per cent.

CORPORATES
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Morgan Poll finds: ALP grabs election winning lead after first week of the campaign – ALP 52.5% cf. L-NP 47.5%

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Original article by Gary Morgan, Roy Morgan Research
Morgan Poll Update – Page: Online : 16-May-16

The ALP 52.5% (up 1.5%) has an election-winning two-party preferred lead over the L-NP 47.5% (down 1.5%) after the first week of official campaigning. Prime Minister Malcolm Turnbull called the Federal Election just over a week ago and today’s Morgan Poll shows the first week has been won by Opposition Leader Bill Shorten. The ALP increased support strongly in Western Australia ALP 54% (up 5%) cf. L-NP 46% (down 5%) and Tasmania ALP 57% (up 5%) cf. L-NP 43% (down 5%) after the first week and there were also smaller swings to the ALP in Victoria and Queensland. However, there is still a long way to go in the Federal Election campaign and the massive vote (30.5%) for the minor parties shows the minor parties will definitely hold the balance of power in the Senate and led by the Greens and the Nick Xenophon Team (NXT) could also control the balance of power in the House of Representatives. The strong performance of the minor parties in today’s Morgan Poll shows that neither Turnbull nor Shorten has successfully articulated clear policies and a plan that minor party supporters will vote for.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, KATTER’S AUSTRALIAN PARTY, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Double hit for Shorten on penalties

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Original article by Sid Maher, Joe Kelly, Mark Coultan, Paige Taylor
The Australian – Page: 1 : 17-May-16

Federal Opposition Leader Bill Shorten has ruled out introducing legislation to protect penalty rates if the Fair Work Commission rules that Sunday rates in sectors such as retailing and hospitality should be reduced. Shorten has reiterated his position that the Australian Labor Party will not oppose the FWC’s ruling, despite pressure from the Australian Greens and the union movement to take action to safeguard penalty rates.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN GREENS, ACTU, 3AW SOUTHERN CROSS RADIO PTY LTD, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, AUSTRALIAN MANUFACTURING WORKERS’ UNION

Pressure on Shorten over penalty rates

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Original article by Ewin Hannan
The Australian Financial Review – Page: 6 : 16-May-16

The Fair Work Commission is likely wait until after the 2016 federal election to issue its ruling on weekend penalty rates. Unions have urged Opposition Leader Bill Shorten to introduce greater protection for employees who receive penalty rates, although the Australian Labor Party has previously indicated that it will not oppose the FWC’s ruling if it recommendations a reduction in Sunday penalty rates.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ACTU

Greens put high price on power

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Original article by Sid Maher
The Australian – Page: 1 & 6 : 16-May-16

Federal Opposition Leader Bill Shorten has again stressed that his party will not seek to form government with the Australian Greens in the event of a hung parliament. However, Greens leader Richard Di Natale believes that Shorten would not give up the opportunity to become prime minister, even if it required an alliance with the Greens. He also says any such deal would require the Australian Labor Party to change its policies on issues such as climate change and asylum seekers.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. FAIR WORK COMMISSION, LIBERAL PARTY OF AUSTRALIA

Murdoch’s clout the big query

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Original article by Aaron Patrick
The Australian Financial Review – Page: 36 : 16-May-16

Media mogul Rupert Murdoch has traditionally been regarded as having a significant influence on the political landscape in Australia and abroad. However, some experts believe that the power of the Murdoch press to influence election outcomes is waning amid the rise of digital disruptors, and the 2016 federal election may reinforce this perception. Former News Limited CEO Kim Williams argues that all newspapers are losing their power to influence election outcomes.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, BUZZFEED PTY LTD, TWITTER INCORPORATED, LABOUR PARTY (GREAT BRITAIN), CONSERVATIVE PARTY (GREAT BRITAIN), UNIVERSITY OF MELBOURNE, UNIVERSITY OF NEW SOUTH WALES, SKY NEWS, AUSTRALIA. DEPT OF THE TREASURY

Bundled reforms await return

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Original article by Jake Mitchell
The Australian – Page: 26 & 28 : 16-May-16

The Australian Government will have to reintroduce its bill on cross-media ownership reform to Parliament if it wins the 2016 election. It is likely to package the reforms with a bill to reduce TV broadcasting licence fees, changes to the anti-siphoning for sports events and the pricing and allocation of broadcasting spectrum. The Government has previously ruled out introducing separate bills to abolish the "reach rule" and the "two-out-of-three rule".

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN LABOR PARTY

Coalition sells policy changes as ‘fair’

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Original article by Dennis Shanahan
The Australian – Page: 6 : 13-May-16

The Australian Government has defended its May 2106 Budget measures on the taxation of superannuation, with Cabinet Secretary Arthur Sinodinos and ex-prime minister Tony Abbott stressing that the changes are not retrospective. Sinodinos says the fact that some wealthy people are concerned about the changes demonstrates that the proposed reforms are fair. Abbott describes the reforms as a "gutsy call" by the Government and the right course of action.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, INSTITUTE OF PUBLIC AFFAIRS LIMITED

Company tax drop will pay off, says McKibbin

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Original article by Ben Potter
The Australian Financial Review – Page: 7 : 13-May-16

Prominent economist Warwick McKibbin has urged the Coalition to proceed with its proposed reduction in the company tax rate despite its high cost. The policy is estimated to cost $A48 billion over 10 years but McKibbin says it will add $A160 billion to GDP in the long-term. He disagrees with the assessment of the policy’s future benefits by Victoria University’s Janine Dixon, who calculated that a company tax cut would increase GDP while reducing gross national product by between $A800 and $A2,000 per capita.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, VICTORIA UNIVERSITY. CENTRE OF POLICY STUDIES