AUSTRALIA – POLITICS AND GOVERNMENT

ACCC bill faces Senate defeat

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Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 13-Mar-15

The Federal Government’s attempt to reinstate the Australian Building & Construction Commission is unlikely to be successful. The legislation proposed by the Government is likely to be defeated in the Senate. Crossbench senators Ricky Muir, Jacqui Lambie and John Madigan have vowed to vote against it

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, FAIR WORK BUILDING AND CONSTRUCTION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MASTER BUILDERS OF AUSTRALIA

Cabinet split on flexible super plan

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Original article by Fleur Anderson, James Eyers
The Australian Financial Review – Page: 1 & 12 : 12-Mar-15

Communications Minister Malcolm Turnbull is among the federal MPs who have criticised a proposal to allow Australian to use their superannuation savings to buy a home. Shadow treasurer Chris Bowen also opposes any push by Treasurer Joe Hockey to permit super to be used in this way, while financial system inquiry panel member Craig Dunn argues that super should be used solely to finance retirement. Hockey has suggested that super should be available throughout a person’s life due to increasing longevity

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF COMMUNICATIONS, AMP LIMITED – ASX AMP, AUSTRALIAN LABOR PARTY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CENTRE FOR INTERNATIONAL FINANCE AND REGULATION, ABC RADIO, BRISBANE CLUB

PM’s $500m payoff to SA, Vic industry

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Original article by Phillip Coorey, Simon Evans
The Australian Financial Review – Page: 1 & 4 : 11-Mar-15

The Australian Government will retain a $A500m industry assistance scheme for the local car industry, despite its impact on the Budget bottom line. It wants to ensure that automotive component makers remain financially viable until the local car manufacturing ends. GM Holden has indicated that the Government’s support for the scheme will increase the likelihood that the car maker will keep its plants open until the scheduled shutdown, while Toyota says it definitely will not close its plant before the end of 2017

CORPORATES
GM HOLDEN LIMITED, GENERAL MOTORS CORPORATION, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, FORD MOTOR COMPANY AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, LIBERAL DEMOCRATIC PARTY, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN MANUFACTURING WORKERS’ UNION, THE CENTRE FOR INDEPENDENT STUDIES LIMITED

L-NP support increases after PM Abbott commits to sending Australian troops to Iraq

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 10-Mar-15

A multi-mode Morgan Poll on Federal voting intention has found that support for the Coalition on a two-party preferred basis has risen by 2.5 per cent to 46.5 per cent. The poll, which was carried out on the weekends of 28 February-1 March and 7-8 March 2015, also shows that support for the Australian Labor Party has fallen by 2.5 per cent to 53.5 per cent. Roy Morgan Research executive chairman Gary Morgan says support for the Coalition rose after Prime Minister Tony Abbott committed to sending 300 Australian troops to Iraq to help train the Iraqi army in its fight against the Islamic State. He adds that the Morgan Poll has consistently shown a short-term boost to prime ministers who commit Australian forces to international battlefields

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW ZEALAND. DEPT OF THE PRIME MINISTER AND CABINET

Murray shoots down Hockey’s super kite

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Original article by Fleur Anderson, Ruth Liew
The Australian Financial Review – Page: 1 & 10 : 11-Mar-15

Business leaders have expressed reservations about the Australian Government’s proposal for superannuation to be used to finance home ownership. Financial system inquiry chairman David Murray and AMP CEO Craig Meller are among those who oppose the plan due to its potential effects on the nation’s retirement system. Finance Minister Mathias Cormann also spoke out against such a proposal in October 2014

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIA. DEPT OF FINANCE, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, MONASH UNIVERSITY, GEM CAPITAL FINANCIAL ADVICE, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

Compromise deal on RET in the wind

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Original article by Joanna Heath
The Australian Financial Review – Page: 9 : 10-Mar-15

The Australian Government and industry bodies are expected to agree on a compromise arrangement for the Renewable Energy Target scheme. The new target of around 35,000 gigawatt hours by 2020 would stimulate investment in wind farms. Bloomberg estimates that the new target would result in 8.8 gigawatts of extra renewable energy capacity by 2021

CORPORATES
BLOOMBERG LP, CLEAN ENERGY COUNCIL LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT, THE AUSTRALIAN INDUSTRY GROUP

Budget deficits for 40 years

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 6-Mar-15

The Australian Government’s Intergenerational Report forecasts that the nation’s population will rise from 23.9 million to 39.7 million over the next four decades. It also forecasts that Australians will live longer, with more than 40,000 people over the age of 100 by 2055, while the workforce participation rate of people aged 65+ will rise and there will be fewer people under the age of 65 in the workforce. Treasurer Joe Hockey has used the release of the report to warn that Australia faces decades of Budget deficits unless policy reforms are implemented

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, MIGRATION COUNCIL OF AUSTRALIA

Ley rules out bulk-billing means test

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Original article by Joanna Heath
The Australian Financial Review – Page: 15 : 5-Mar-15

The Australian Government has decided not to introduce a $A5 GP co-payment. Health Minister Sussan Ley is now looking for other cost-cutting options, although she has ruled out the means-testing of bulk-billing. The matter will be discussed at a meeting of Ley and Prime Minister Tony Abbott with Australian Medical Association president Brian Owler

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN MEDICAL ASSOCIATION LIMITED

Medicare rebate freeze to stay

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Original article by Joanna Heath
The Australian Financial Review – Page: 4 : 4-Mar-15

Australian Medical Association president Brian Owler has backed the Federal Government’s decision to abandon its proposed Medicare co-payment. However, he says the decision to leave the Medicare rebate at its current level until 2018 should also be scrapped, arguing that it will reduce GPs’ income. Health Minister Susan Ley says the rebate freeze will also be reviewed, and has stressed the need for policies that help the Government to balance the Budget

CORPORATES
AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Business fears a return to union chaos

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 4-Mar-15

Fair Work Building & Construction’s powers to take action over unlawful conduct by unions are slated to expire at the end of May 2015. The Australian Government faces resistance from the Opposition and the Australian Greens to extend these powers. Groups such as the Australian Industry Union and Master Builders Australia are concerned about the impact on the construction industry if the sunset clause introduced by the Australian Labor Party takes effect

CORPORATES
FAIR WORK BUILDING AND CONSTRUCTION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, THE AUSTRALIAN INDUSTRY GROUP, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, PALMER UNITED PARTY