AUSTRALIA – POLITICS AND GOVERNMENT

ABC to get extra $126m funding after election

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Original article by Ronald Mizen
The Australian Financial Review – Page: 4 : 17-Dec-24

The federal government will boost funding for the ABC in its Mid-Year Economic and Fiscal Outlook statement. Communications Minister Michelle Rowland has advised that the public broadcaster will receive an additional $40.9m in 2026-27, $42.2m in the following financial year and $43m in 2028-29. Rowland has also indicated that the government will legislate five-year funding agreements for the ABC. The former Coalition government had significantly reduced the ABC’s funding.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS

Chalmers’ budget update locks in extra $25bn of unavoidable expenditure

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Original article by Jack Quail, Geoff Chambers
The Australian – Page: 1 & 4 : 17-Dec-24

Treasurer Jim Chalmers says that although global economic volatility is weighing on the federal budget, Labor has delivered two surpluses and lower debt since taking office in May 2022. Meanwhile, the Mid-Year Economic and Fiscal Outlook on Wednesday will feature some $25.1bn worth of additional government spending; this will include $16.3bn for increased welfare payments, childcare subsidies and cost of living relief. The government describes this as ‘automatic spending increases’, while Finance Minister Katy Gallagher has flagged $8.8bn of ‘unavoidable spending’. Independent economic Chris Richardson refutes suggestions that some expenditure cannot be avoided.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE

Miners claim uranium ban negligent, nonsense policy

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Original article by Rosie Lewis
The Australian – Page: 5 : 17-Dec-24

Minerals Council of Australia CEO Tania Constable will appear before a parliamentary inquiry into nuclear power on Tuesday. Constable will argue that there is no scientific, technical or economic justification for retaining Australia’s long-standing legislative ban on nuclear energy. She will also contend that adding nuclear to the nation’s energy mix will be necessary in order to fully decarbonise the domestic economy by 2050. Electrical Trades Union organiser Simon Brezovnik has told the inquiry that nuclear energy is too expensive and high-risk.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, ELECTRICAL TRADES UNION

Roy Morgan Poll: Coalition boosts primary support and retains clear two-party preferred lead for Christmas: L-NP 52% cf. ALP 48%

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Dec-24

A Coalition Government, with a slim majority, would now win a Federal Election with the two-party preferred vote unchanged from last week: L-NP 52% cf. ALP 48%, the latest Roy Morgan survey finds. Primary support for the Coalition increased 3% to 41% – the highest since the last Federal Election and came at the expense of One Nation 5% (down 1.5%), and drops in support for the ALP 27.5% (down 0.5%), Greens 12.5% (down 0.5%), and Other Parties 3.5% (down 0.5%) which all lost support. Support for Independents remained steady at 10.5%. The rise in Coalition primary came after the RBA left interest rates unchanged and the Coalition outlined its energy plan to bring in nuclear power and lower energy costs.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ONE NATION PARTY, AUSTRALIAN GREENS

ABC to get extra $126m funding after election

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Original article by Ronald Mizen
The Australian Financial Review – Page: 4 : 17-Dec-24

The federal government will boost funding for the ABC in its Mid-Year Economic and Fiscal Outlook statement. Communications Minister Michelle Rowland has advised that the public broadcaster will receive an additional $40.9m in 2026-27, $42.2m in the following financial year and $43m in 2028-29. Rowland has also indicated that the government will legislate five-year funding agreements for the ABC. The former Coalition government had significantly reduced the ABC’s funding.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS

Academic and banker to join RBA policy board

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Original article by Jack Quail
The Australian – Page: 4 : 17-Dec-24

Treasurer Jim Chalmers says the federal government undertook a "very robust and very consultative" process to select the members of the Reserve Bank of Australia’s two new boards. Professor Renee Fry-McKibbin and former Bendigo Bank CEO Marnie Baker will join four of the RBA’s current external board members on the new interest-rate setting board, which will also include governor Michele Bullock, deputy governor Andrew Hauser and Treasury secretary Steven Kennedy. Current board members Carol Schwartz and Elana Rubin will join the RBA’s governance board.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

China, Russia, Israel: Wong on affront foot

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Original article by Ben Packham, Sarah Ison
The Australian – Page: 1 : 11-Dec-24

Foreign Minister Penny Wong has defended a controversial speech at the University of South Australia. Wong used the Hawke Lecture to contend that it is not anti-Semitic to expect Israel to comply with international law, in the same way that Russia and China are expected to do so with regard to Ukraine and the South China Sea. However, shadow home affairs minister James Paterson says Wong’s criticism of Israel is encouraging anti-Semitism and threatening the safety of Jewish Australians. Meanwhile, Simone Abel from the Executive Council of Australian Jewry has accused the government of double standards regarding foreign policy towards Israel.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, LIBERAL PARTY OF AUSTRALIA, EXECUTIVE COUNCIL OF AUSTRALIAN JEWRY

Antisemitism changing nation, Albanese told

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Original article by Andrew Tillett
The Australian Financial Review – Page: 4 : 11-Dec-24

Prime Minister Anthony Albanese has told the Jewish community that the federal government will provide financial support to rebuild the Adass Israel synagogue. Albanese visited the site on Tuesday, spending 45 minutes inspecting the remains of the building and a similar amount of time in a private meeting with senior members of the Adass Israel community. Benjamin Klein, a member of the synagogue’s board, says community leaders told Albanese that the surge in anti-Semitism has "changed the fabric of Australia", and that the government must take action to address it. Police are searching for three suspects in the firebombing, which has been designated a terrorist attack.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Roy Morgan Poll: Coalition increases lead: L-NP 52% cf. ALP 48%

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-Dec-24

A Coalition Government, with a slim two-party preferred majority: L-NP 52% cf. ALP 48% would now win a Federal Election, the latest Roy Morgan survey finds. The rise in Coalition support came after Israeli Prime Minister Benjamin Netanyahu criticised the Albanese Government’s approach to Israel and accused the Government of taking an ‘extreme anti-Israeli position’. Netanyahu blamed the arson attack on a Melbourne synagogue – now classified as a terrorist act – on the Government’s failure to call out antisemitism more consistently and firmly. In addition, a major strike by Woolworths workers led to shortages of key goods at many stores of Australia’s largest supermarket as Australians battle a cost of living crisis.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Police, ASIO taskforce to protect Jews

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Original article by Andrew Tillett, Gus McCubbing
The Australian Financial Review – Page: 1 & 4 : 10-Dec-24

The federal government has announced that the Australian Federal Police and ASIO will establish a special taskforce to investigate anti-Semitism in Australia. The decision to set up ‘Operation Avalite’ follows official confirmation that the firebombing of the Adass Israel synagogue in Melbourne has been designated a terrorist attack. Victoria Police’s Chief Commissioner Shane Patton has defended the decision to belatedly make this declaration, but federal Opposition leader Peter Dutton says it was "obvious from the start" that it was a terrorist attack. Meanwhile, Prime Minister Anthony Albanese has been criticised for playing tennis at an exclusive Perth tennis club on Saturday rather than cut short his visit to Western Australia in response to the synagogue attack.

CORPORATES
AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, VICTORIA POLICE