AUSTRALIA – POLITICS AND GOVERNMENT

Big business takes hit to please Nats

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 13 : 17-Mar-16

The Federal Government has decided to introduce an "effects test" to competition law. The Business Council of Australia opposes the "effects test", but the new policy is supported by other organisations, including the Australian Chamber of Commerce & Industry, the Australian Competition & Consumer Commission and the Australian Industry Group. Wesfarmers CEO Richard Goyder expressed his disappointment with the decision at "The Australian Financial Review" Business Summit.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, COLES GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, BHP BILLITON LIMITED – ASX BHP, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, THE AUSTRALIAN INDUSTRY GROUP

Shorten makes his pitch on tax take

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Original article by David Crowe, Sarah Martin
The Australian – Page: 4 : 16-Mar-16

Federal Opposition Leader Bill Shorten has told the National Press Club that superannuation and negative gearing tax concessions should be reduced, with the savings redirected to areas where more spending is needed. Shorten also stressed the Australian Labor Party’s commitment to achieving full employment, which he defines as a jobless rate of five per cent. Labor will release a report on issues such as social services reform, inequality and unemployment on 16 March 2016.

CORPORATES
AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA), AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Lower taxes to wait for spending cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 5 : 16-Mar-16

Treasurer Scott Morrison has indicated that the Australian Government’s May 2016 Budget will include a reduction in superannuation tax concessions. However, he has warned that this measure will not be sufficient to finance a significant income tax cut. Morrison says a reduction in government spending rather than increasing other taxes is the best strategy in both the short- and long-term for reducing taxes.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Shorten to promise full employment

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Original article by Laura Tingle
The Australian Financial Review – Page: 4 : 15-Mar-16

A commitment to achieving full employment will be part of the Australian Labor Party’s 2016 federal election platform. Opposition Leader Bill Shorten will address the National Press Club on 16 March, where he will highlight issues such as job security, wage fairness, under-employment and the high jobless rate in some parts of Australia. He will also criticise Prime Minister Malcolm Turnbull’s lack of leadership in addressing issues facing the nation.

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

NDIS could kick-start a boom in jobs and business

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Original article by Laura Tingle
The Australian Financial Review – Page: 6 : 14-Mar-16

The National Disability Insurance Agency has estimated that the Australian Government’s National Disability Insurance Scheme will create almost 29,000 jobs and boost the value of the disability services market to $A6.8bn. This is in line with figures from Federal Social Services Minister Christian Porter and New South Wales Disability Services Minister John Ajaka. The full rollout of the NDIS will commence in NSW and Victoria from July 2016.

CORPORATES
AUSTRALIA. NATIONAL DISABILITY INSURANCE AGENCY, AUSTRALIA. DEPT OF SOCIAL SERVICES, NEW SOUTH WALES. DEPT OF AGEING, DISABILITY AND HOME CARE, AUSTRALIAN LABOR PARTY

Fifield hints anti-siphoning rules redundant

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Original article by Jake Mitchell
The Australian – Page: 23 : 14-Mar-16

Communications Minister Mitch Fifield has ruled out changes to the anti-siphoning list for sports events as part of the Australian Government’s cross-media ownership reforms. However, he has conceded that online streaming has made the anti-siphoning list less relevant, as the restrictions do not apply to companies that supply such services. Fifield also maintains that abolition of the "reach rule" and the "two-out-of-three rule" must be put to Parliament in a single bill.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SINGTEL OPTUS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, YOUTUBE INCORPORATED, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN LABOR PARTY

PM ‘won’t blow’ iron ore bonus

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 11-Mar-16

The benchmark iron ore price has fallen below $US60 per tonne, although it remains significantly above the forecast of just $US39/tonne in the Australian Government’s mid-year Budget update. A sustained upturn in the price of the steel input could potentially boost government revenue by up to $A15bn over four years. However, government sources have indicated that the additional revenue will be used to reduce the deficit instead of financing larger tax cuts than the modest reduction that the Government is planning.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, RESERVE BANK OF NEW ZEALAND, EUROPEAN CENTRAL BANK, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION

Carnell laments IR reform inertia

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Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 11-Mar-16

Australian Chamber of Commerce & Industry CEO Kate Carnell stepped down on 10 March 2016 after two years in the role. Carnell describes the Federal Government’s lack of action on the issue of industrial relations reform has her biggest failure during her tenure. She says the IR system is too complex, restrictive and inflexible, and it must be overhauled to reflect workplaces of the future. Carnell will become the federal small business ombudsman.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN FOOD AND GROCERY COUNCIL, AUSTRALIAN GENERAL PRACTICE NETWORK LIMITED, BEYOND BLUE AUSTRALIA PTY LTD

In hock to the world as debt tops $1 trillion

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Original article by Adam Creighton
The Australian – Page: 6 : 10-Mar-16

National accounts data shows that Australia’s total foreign debt has risen to more than 60 per cent of GDP, compared with just 37 per cent in 1996. Foreign debt has risen from $A180bn to more than $A1trn in the last two decades. The Australian Labor Party’s treasury spokesman, Chris Bowen, notes that public sector debt has blown out from $A90bn to $A250bn since Barnaby Joyce was dropped as finance spokesman when the Coalition was in opposition.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, LF ECONOMICS

Double-D plus six: PM’s poll options narrowing

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Original article by Phillip Hudson
The Australian – Page: 1 & 6 : 10-Mar-16

Prime Minister Malcolm Turnbull is believed to favour 2 June as the date for the federal election if he opts for a double-dissolution poll. It is the day after changes to the voting system for the Senate are due to take effect. However, Turnbull is likely to have few alternative options for the election date, with 3 September regarded as the most likely date for a half-Senate election. Factors such as the Olympic Games and football grand finals will influence the timing of the poll.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, AUSTRALIAN GREENS, NEWSPOLL, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, LIBERAL PARTY OF AUSTRALIA