AUSTRALIA – POLITICS AND GOVERNMENT

Treasurer Morrison promises to stop the debt

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 7 : 21-Sep-15

Australia’s new Treasurer Scott Morrison says he will aim to reduce the Budget deficit and the nation’s debt. He has indicated that job creation will be also be a priority, with some 300,000 jobs created during the tenure of predecessor Joe Hockey. Morrison adds that the process of producing white papers on issues such as taxation and the federation will not be affected by the ministerial reshuffle.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN LABOR PARTY

Hockey reveals $3b budget swansong

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 18-Sep-15

The Australian Government will release the final Budget figures for 2014-15 on 21 September 2015, but Treasury Joe Hockey has revealed that government spending for the fiscal year was around $A3bn lower than expected. Hockey has also told Parliament that net government debt for 2014-15 was $11.5 billion below expectations at $A238bn. The Government is set to post a Budget deficit for 2014-15 of about $A38bn. Hockey is expected to be replaced as Treasurer following the leadership change.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF SOCIAL SERVICES

Turnbull delivers instant Libs lift

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Original article by Peter Jean
The Advertiser – Page: 8 : 18-Sep-15

A Galaxy Poll has found that support for the Liberal-National coalition has risen to 51 per cent on a two-party preferred basis. The national poll was carried out on 15-16 September, in the wake of the leadership spill that ousted Tony Abbott. New Prime Minister Malcolm Turnbull was rated the preferred prime minister by more than 50 per cent of respondents, while 20 per cent preferred Opposition Leader Bill Shorten.

CORPORATES
GALAXY RESEARCH PTY LTD, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Ambush: The faceless men who stalked Abbott and made Turnbull king

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Original article by Phillip Coorey, Laura Tingle
The Australian Financial Review – Page: 1/ & 36 : 18-Sep-15

A group of Coalition MPs and senators met on the evening of 13 September 2014 to plot the downfall of Prime Minister Tony Abbott. Those present included Mitch Fifield, James McGrath, Mal Brough and Wyatt Roy. They had been planning to move against Abbott for some time, and decided to act immediately rather than wait until after the Canning by-election in Western Australia. Abbott was defeated by Malcolm Turnbull in a leadership spill the following day. Rumours of a plot against Abbott had been circulating for some time, but they were dismissed by both Abbott himself and his chief of staff, Peta Credlin.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, GM HOLDEN LIMITED, AUSTRALIA. DEPT OF THE TREASURY

Coup backers to be promoted

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 17-Sep-15

Tony Abbott supporters Kevin Andrews and Eric Abetz are expected to be among the casualties when Prime Minister Malcolm Turnbull announces his new frontbench team. It is expected that at least nine Coalition members who supported Turnbull in the leadership spill will be promoted in the ministerial reshuffle, and Turnbull has indicated that he is keen for more women to become government ministers. Several Abbott backers are tipped to retain their portfolios, including Andrew Robb.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, LIBERAL PARTY OF AUSTRALIA

Hockey’s last big tax crackdown

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Original article by Joanna Mather, Fleur Anderson
The Australian Financial Review – Page: 1 & 10 : 17-Sep-15

Federal Treasurer Joe Hockey says tax law reforms aimed at combating profit-shifting by multinationals could potentially affect up to 1,000 companies, rather than the 30 that he had initially flagged. Hockey says the revised legislation, which was introduced to Parliament on 16 September 2015, will apply to all multinationals with global revenue of at least $A1bn. Lawyers, accountants and employers’ associations are among those to have expressed concern that the new anti-avoidance laws will deter foreign investment in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, BAKER AND McKENZIE, KPMG AUSTRALIA PTY LTD, AMERICAN CHAMBER OF COMMERCE IN AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

L-NP (43%) fell further behind ALP (57%) before Turnbull challenged Abbott for the Prime Ministership on Monday

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 16-Sep-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 two per cent to 43 per cent. The poll, which was carried out on the weekend of 12-13 September 2015, also shows that the Coalition’s primary vote has fallen by 1.5 per cent to 35 per cent, while the Roy Morgan Government Confidence Rating has fallen by four points to an equal record low of 86 points. Roy Morgan Research executive chairman Gary Morgan says the 7-Eleven and United Petroleum wages rort offers new Prime Minister Malcolm Turnbull the opportunity to grab the economic initiative, which means presenting to Parliament major changes to industrial relations and employment laws and cutting Government bureaucracy and wasteful Government spending.

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, 7-ELEVEN STORES PTY LTD, UNITED PETROLEUM PTY LTD

Cross-media ownership rules may go back on the table

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Original article by Dominic White
The Australian Financial Review – Page: 15 : 17-Sep-15

Prime Minister Malcolm Turnbull has advocated changing Australia’s cross-media ownership laws in the past, and comments in his first official press conference suggest that it may be back on the agenda. Turnbull noted that he first talked about the need for reforms in 1977, and said he will look forward to discussing the issue with cabinet ministers. Media law reforms were put on hold by former prime minister Tony Abbott earlier in 2015.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ

New PM a win for retail, media and tech shares

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 31 : 16-Sep-15

David Bassanese of BetaShares expects consumer and business confidence to rise in the near-term under new Prime Minister Malcolm Turnbull. He adds that Turnbull’s success in pursuing economic reform will determine whether a rise in business confidence is sustained. He says stocks in the retail, technology and construction sectors are likely to benefit from the leadership change. ST Wong of Prime Value Management say a Turnbull government may be positive for media stocks in particular.

CORPORATES
BETASHARES CAPITAL LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PRIME VALUE ASSET MANAGEMENT LIMITED, PEAK ASSET MANAGEMENT PTY LTD, IG MARKETS LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORPORATION – ASX NWS, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF, AUSTRALIA. DEPT OF THE ENVIRONMENT

Turnbull unites Coalition as business hopes surge

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 16-Sep-15

New Australian Prime Minister Malcolm Turnbull has committed to retaining the Coalition’s stance on key issues such as climate change and same-sex marriage. He will also support a proposal to add a so-called "effects test" to competition laws, although such a move is opposed by the Business Council of Australia. The business sector generally supports the dumping of former prime minister Tony Abbott in favour of Turnbull, while a snap Morgan Poll shows that 70 per cent of electors rate Turnbull as the preferred Prime Minister.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF AGRICULTURE, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF SOCIAL SERVICES, MURRAY-DARLING BASIN AUTHORITY