AUSTRALIA – POLITICS AND GOVERNMENT

Get ready for cigarettes at $40 a pack

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 24-Nov-15

The Australian Labor Party will raise the excise rate for cigarettes by 12.5 per cent for four years from mid-2017 if it wins the next federal election. The rise in excise of this magnitude would result in cigarettes costing more than $A40 a pack. Some experts stress the fact that smoking is more prevalent among lower-income households than wealthier households and, therefore, the proposed policy would make poor people even poorer.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, WORLD TRADE ORGANIZATION, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, CANCER COUNCIL OF AUSTRALIA

Media reform debate could go to the wire

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 23-Nov-15

The Australian Government’s proposed changes to cross-media ownership laws may still be discussed by cabinet before parliament rises for the year, although other issues are likely to take priority in the coming week. Meanwhile, pay-TV group Foxtel has proposed removing sports events such as the FA Cup and the US Masters Golf from the anti-siphoning list. Australian Subscription Television & Radio Association chairman Tony Shepherd has also advocated changes to the list.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, FOOTBALL ASSOCIATION LIMITED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

Incentives eyed for downsizers

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Original article by Gretchen Friemann, David Uren
The Australian – Page: 6 : 20-Nov-15

The Australian Government has proposed measures aimed at reducing retirees’ dependence on the age pension by encouraging them to sell their family home and use the proceeds to invest in retirement products such as annuities. Measures being considered by Treasurer Scott Morrison include a stamp duty exemption for people who downsize to a smaller home and excluding the proceeds from the sale of a family home from the assets test for the age pension.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. PRODUCTIVITY COMMISSION, COUNCIL ON THE AGEING, CHALLENGER LIMITED – ASX CGF, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES. THE TREASURY

Unions launch onslaught on super changes

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Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 19-Nov-15

The ACTU has appealed to the public to oppose the Australian Government’s plans to make changes to the superannuation system. ACTU president Ged Kearney said people will be alerted to the alleged threat to their super savings via automated telephone calls and radio advertisements. She claims that the changes would give the big banks more control over super.

CORPORATES
ACTU, AUSTRALIA. DEPT OF THE TREASURY

Fed, China fears hit iron ore, copper

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Original article by Jacob Greber, Stephen Cauchi
The Australian Financial Review – Page: 1 & 13 : 19-Nov-15

The latest downturn in the iron ore price will put pressure on Australia’s terms of trade as Treasurer Scott Morrison prepares to release a Budget update in late 2015. Budget forecasts in May were based on an average iron ore price of $US48 per tonne in 2015-16. Although the price of the steel input rebounded to around $US60 in July, it has fallen to $US45.58 in mid-November. Slower growth in wages will also impact on government revenue.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RIO TINTO LIMITED – ASX RIO, UNITED STATES. FEDERAL RESERVE BOARD, BLOOMBERG LP

Government to debate media reform format

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Original article by Max Mason
The Australian Financial Review – Page: Online : 18-Nov-15

The Australian Government’s proposed cross-media ownership reforms are expected to be presented to cabinet in late November 2015. The Government is initially expected to focus on scrapping the so-called "reach rule" and the "two-out-of-three rule", but it is still to decide whether to pursue both reforms in a single bill or put two separate bills to Parliament. The Opposition favours abolishing the reach rule, although there is less support for scrapping the two-out-of-three rule.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Treasurer hints at lower economic growth trend

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Original article by Jacob Greber, Primrose Riordan
The Australian Financial Review – Page: 5 : 18-Nov-15

The Australian economy’s trend growth rate has traditionally been regarded as being around 3.25 per cent. Treasurer Scott Morrison says the economy is currently expanding by 2.3 per cent, but this would need to rise above three per cent for government revenue to be sufficient to balance the Budget. The Treasury has previously forecast that the Budget will return to deficit by the early 2020s, although this is based on an economic growth rate of 3.5 per cent over the five years from 2018-19.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD

Breakthrough on Indonesia trade deal talks

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Original article by Greg Earl
The Australian Financial Review – Page: 6 : 18-Nov-15

Australia’s Trade Minister Andrew Robb has indicated that negotiations over a bilateral trade agreement with Indonesia will resume in early 2016. Robb aims to finalise a trade deal with Indonesia within 12 months, which is the time-frame used in negotiating free trade agreements with other nations. Australia and Indonesia formally commenced negotiations for a Closer Economic Partnership Agreement in September 2012, but the process stalled in 2013.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, INDONESIA. DEPT OF INDUSTRY AND TRADE, ASIA-PACIFIC ECONOMIC CO-OPERATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TRANS-PACIFIC PARTNERSHIP

Federal Voting Intention virtually unchanged. L-NP (56%) cf. ALP (44%); Confidence in Turnbull Government jumps – highest since March 2011

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 16-Nov-15

A multi-mode Morgan Poll on Federal voting intention has found that support for Australia’s ruling Liberal-National Coalition on a two-party preferred basis has fallen by 0.5 per cent to 56 per cent. The poll, which was carried out on the weekends of 7-8 and 14-15 November 2015, also shows that the Coalition’s primary vote has fallen by one per cent to 46 per cent, while the Roy Morgan Government Confidence Rating has risen by 7.5 points to 119.5 points. Roy Morgan Research executive chairman Gary Morgan says the strong lift in confidence around Australia gives the Turnbull Government the mandate to make the tough decisions about whether or not Australia should commit troops to any international coalition aimed at defeating the Islamic State (ISIS) and affiliated terrorist groups in Iraq and Syria over the next few months, as Western nations in particular seek to make the most effective and productive response to the horrific Paris terrorist attacks.

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, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Budget blowout of $5b if growth 3pc

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 17-Nov-15

The Australian economy’s trend growth rate has traditionally been regarded as 3.25 per cent. Reserve Bank Governor Glenn Stevens and Treasury secretary John Fraser have both recently warned that the nation’s "potential" growth rate could slow in coming years. Economic modelling by PwC has concluded that a trend rate of three per cent would result in Budget revenue being around $A5bn lower than expected each year.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY