AUSTRALIA – POLITICS AND GOVERNMENT

Media reform could be delayed until after budget, federal vote

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Original article by Max Mason
The Australian Financial Review – Page: 5 : 20-Apr-16

Federal Parliament is unlikely to sit again until 2 May 2016, ahead of the Australian Government’s Budget on 3 May. The Government is now expected to postpone proposed changes to cross-media ownership laws until after the double-dissolution election on 2 July, in order to focus on the Budget. Abolition of the "reach rule" and the "two-out-of-three rule" is still on the Government’s agenda, while the Ten Network has again called for broadcasting licence fees to be reduced in the Budget.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD

Kidman ‘deal’ off election agenda

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Original article by Sue Neales
The Australian – Page: 1 & 2 : 20-Apr-16

Shanghai Pengxin, Shanghai CRED Real Estate and Australian Rural Capital are poised to acquire the S. Kidman & Company rural property empire, comprising nine cattle stations and 180,000 head of cattle. However, federal Treasurer Scott Morrison will defer a decision on whether to approve the sale until late July 2016, to ensure that it does not become an election issue. The two Chinese groups will have an 80 per cent stake in the Kidman business.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, SHANGHAI PENGXIN GROUP COMPANY LIMITED, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, AUSTRALIAN RURAL CAPITAL LIMITED – ASX ARC, AUSTRALIA. DEPT OF THE TREASURY, DAKANG AUSTRALIA HOLDINGS PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Morgan Poll, the ABCC and banking industry regulation

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Original article by Gary Morgan, Roy Morgan Research
Morgan Poll Update – Page: Online : 18-Apr-16

Despite Prime Minister Malcolm Turnbull receiving good publicity surrounding last week’s visit to China, today’s Morgan Poll shows the L-NP 50% (down 2.5%) dead-locked with the ALP 50% (up 2.5%) on a two-party preferred basis after Opposition Leader Bill Shorten called for a Royal Commission into the Banking & Finance industry – an idea which found widespread public support. The next three weeks leading into the Federal Budget will play an important role in determining whether the Turnbull Government can show leadership and live up to its image as the better economic managers. Malcolm Turnbull needs to convince Australian electors on "why" the construction industry needs to be subjected to additional regulation and the ABCC legislation must be passed; and why the banks are already sufficiently controlled by Government regulation (APRA, ASIC and the RBA). If not the ALP will continue to undermine the Government’s narrative and present itself as a credible Government in waiting.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RESERVE BANK OF AUSTRALIA

Election would be too close to call: L-NP 50% cf. ALP 50%; Roy Morgan Government Confidence falls 7pts to 99 – lowest since Turnbull became PM.

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 18-Apr-16

In mid-April L-NP support is 50% (down 2.5%) cf. ALP 50% (up 2.5%) on a two-party preferred basis following debate about the reintroduction of the ABCC (Australian Building & Construction Commission) and Labor calls for a Royal Commission into the Banking and Finance industries. If a Federal Election were held now the result would be too close to call and would likely result in a hung Parliament. Primary support for the L-NP is 40.5% (down 1.5%) with ALP at 32% (up 1%). Support for the Greens is up 1% to 14%, Nick Xenophon Team (NXT) 4.5% (unchanged; 22.5% in South Australia), Katter’s Australian Party is 0.5% (unchanged), Palmer United Party is 0% (unchanged) and Independents/ Others are at 8.5% (down 0.5%). The Roy Morgan Government Confidence Rating is down this week – down 7pts to 99 with 40.5% (down 2%) of Australians saying Australia is "heading in the right direction" and 41.5% (up 5%) saying Australia is "heading in the wrong direction". This is the first time the Government Confidence Rating has dipped below 100 since Malcolm Turnbull became Prime Minister in mid-September 2015.

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

Bank inquiry could spook foreign lenders, says Argus

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Original article by Anne Hyland
The Australian Financial Review – Page: 15 : 19-Apr-16

Don Argus, a former CEO of National Australia Bank, says there is no need for a royal commission into the Australian banking sector. He has accused the Australian Labor Party of politicising the issue of corporate culture in the banking sector and described its proposal for a royal commission as a "political witch hunt". In his view, the sector is already well regulated, and any further scrutiny of the sector could alienate foreign lenders.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Tax crackdown to hit profit shifting

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Original article by Joanna Mather
The Australian Financial Review – Page: 1 & 2 : 19-Apr-16

The Australian Government is expected to make changes to thin capitalisation rules in order to curb multinational tax avoidance. The changes, to be announced in the May 2016 Budget, would reduce the amount of debt which multinational companies are allowed to take through their Australian operation from 60 per cent to 50 per cent. The reduction in the "safe harbour" debt-to-assets ratio could lead to accusations of discouraging foreign investment in Australia.

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, INTERNATIONAL TRANSPORT WORKERS’ FEDERATION, KPMG AUSTRALIA PTY LTD

Tribunal driven onto fast track to oblivion

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Original article by Joe Kelly
The Australian – Page: 6 : 19-Apr-16

The Australasian Convenience & Petroleum Marketers Association has welcomed the Senate’s passing of legislation to abolish the Road Safety Remuneration Tribunal. The Australian Labor Party, which had established the tribunal in 2012, opposed its abolition, but the legislation was narrowly passed with the support of crossbench senators. The Federal Government intends to provide the National Heavy Vehicle Regulator with an additional $A4m in annual funding for safety initiatives in the trucking industry.

CORPORATES
AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALASIAN CONVENIENCE AND PETROLEUM MARKETERS ASSOCIATION, AUSTRALIAN LABOR PARTY, AUSTRALIA. NATIONAL HEAVY VEHICLE REGULATOR, TRANSPORT WORKERS’ UNION, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT

PM rolls DD poll dice

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Original article by David Crowe
The Australian – Page: 1 & 6 : 19-Apr-16

The Senate’s rejection of a bill to reinstate the Australian Building & Construction Commission means a double-dissolution election on 2 July 2016 is almost certain. However, Prime Minister Malcolm Turnbull is unlikely to seek the dissolution of Parliament until after the Budget is handed down on 3 May. Four of the crossbench senators voted against the ABCC bill, which was defeated by just two votes. Meanwhile, both houses of parliament have passed legislation to abolish the Road Safety Remuneration Tribunal.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. OFFICE OF THE GOVERNOR-GENERAL, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, NEWSPOLL

Spending and taxing failures risk AAA: Moody’s

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 15-Apr-16

Ratings agency Moody’s expects Australia’s debt to rise to about 38 per cent of GDP, compared with 35 per cent at present. Moody’s analyst Marie Diron notes that this has risen from just 11.6 per cent over the last decade, while the debt of other countries with a triple-A credit rating has averaged 41 per cent over this period. Diron adds that the Federal Government is unlikely to return the Budget to surplus by 2021 unless there is an increase in taxes.

CORPORATES
MOODY’S INVESTORS SERVICE INCORPORATED, AUSTRALIAN LABOR PARTY

Axe state governments, says Freelancer’s Barrie

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Original article by Misa Han
The Australian Financial Review – Page: 12 : 15-Apr-16

Freelancer CEO Matt Barrie is a radical thinker. He shared his views on a number of topics with the audience at the Knowledge Nation summit on 14 April 2016. He said Australia’s state governments should be abolished because the current federal system encourages regulatory duplication, populism and bureaucratic excesses. He also advocated adding more technology subjects to the school curriculum.

CORPORATES
FREELANCER LIMITED – ASX FLN