AUSTRALIA – POLITICS AND GOVERNMENT

Roy Morgan Poll: ALP (50.5%) now marginally ahead of the Coalition (49.5%) after Albanese Government’s strong stance on putting the CFMEU into administration

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Sep-24

If a Federal Election were held now the result would be ‘too close to call’ with the ALP on 50.5% (up 1%) just ahead of the Coalition on 49.5% (down 1%) on a two-party preferred basis, the latest Roy Morgan survey finds. This was a reverse of last week’s results after the Albanese Government’s strong stance on placing the CFMEU into administration last week; however, the ALP or Coalition would require the support of minor parties and independents to form a minority government. The result once again highlights the importance of preference flows to determine the overall two-party preferred result. The ALP primary vote increased 1% to 30.5%, Coalition support dropped 3.5% to 36% – its lowest for nearly three months. Support for the Greens was unchanged at 13% while support for One Nation was up 2% to 6%, support for Other Parties was unchanged at 5% and support for Independents was up 0.5% to 9.5%.

CORPORATES
ROY MORGAN LIMITED, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, ONE NATION PARTY, CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION

‘Too far’: ALP frontbencher’s warning to Reserve Bank

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Original article by Jack Quail
The Australian – Page: 1 & 4 : 3-Sep-24

Treasurer Jim Chalmers says CPI data to be released on Wednesday will underline the impact of interest rate rises on the economy. Chalmers contends that he is "not taking a shot at anyone", although some observers have suggested that he is seeking to blame the Reserve Bank for the slowdown in the economy. Independent economist Saul Eslake says the fact that there has been only a small uptick in the unemployment rate refutes Chalmers’ claim that the Reserve Bank’s interest rate increases are "smashing the economy". Meanwhile, Assistant Immigration Minister Matt Thistlethwaite says the central bank must not go "too far" in seeking to combat inflation.

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AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA

Inflation watch: mind the gap

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Original article by Jack Quail
The Australian – Page: 4 : 28-Aug-24

Economists expect official data to be released on Wednesday will show that Australia’s headline inflation rate eased to 3.4 per cent in the year to July, compared with 3.8 per cent in June. HSBC’s chief economist Paul Bloxham says the Reserve Bank’s board is likely to overlook the headline inflation figure when it meets in September, given that its preferred measure of underlying inflation is expected to be higher. Treasurer Jim Chalmers says that although inflation remains "sticky and stubborn", Labor has made a lot of progress in reducing it since taking office in May 2022. Shadow treasurer Angus Taylor contends that Labor’s cost-of-living measures will temporarily reduce the headline inflation rate.

CORPORATES
HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA

CFMEU vows to destroy the ALP

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Original article by Ewin Hannan, Mohammad Alfares
The Australian – Page: 1 & 5 : 28-Aug-24

More than 60,000 construction workers downed tools on Tuesday to join capital city protests against the federal government’s move to appoint administrators to the CFMEU’s construction divisions. Sacked CFMEU state leaders said they will campaign for the "absolute destruction" of Labor, urging union members to vote against the party at the next federal election and the state polls in Queensland and NSW. Former Queensland state secretary Michael Ravbar intends to pursue a High Court challenge against the administration, while former national secretary Christy Cain has urged Maritime Union of Australia members to join the next rally in solidarity with the CFMEU.

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, AUSTRALIAN LABOR PARTY, MARITIME UNION OF AUSTRALIA

Coalition’s $100bn savings formula

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 27-Aug-24

Shadow treasurer Angus Taylor says the Coalition will pursue a ‘back to basics’ economic agenda if it wins the next federal election. The Coalition has identified nearly $100bn worth of savings it can make by scrapping government programs and initiatives. They include the Housing Australia Future Fund, the Rewiring the Nation program and the Future Made in Australia policy. Taylor says the government’s excessive spending is driving up the longer term inflation rate, and notes this has been acknowledged by the Reserve Bank.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, RESERVE BANK OF AUSTRALIA

PM’s offence minister: Dutton is dangerous

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Original article by Geoff Chambers
The Australian – Page: 1 & 5 : 27-Aug-24

Treasurer Jim Chalmers has defended his economic record in a speech to the Labor-aligned John Curtin Research Centre in Melbourne. Chalmers also used the speech to outline Labor’s plans to create a new ‘fourth economy’ over coming decades, which will be driven by energy, technology, demography, industry and geography; he noted that the nation’s three previous ‘economies’ have occurred roughly 40 years apart. Chalmers also used his speech to criticise Opposition leader Peter Dutton, describing him as the most divisive leader of a major political party in Australia’s modern history.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, JOHN CURTIN RESEARCH CENTRE

Roy Morgan Poll: Coalition (50.5%) marginally ahead of the ALP (49.5%), but too close to call

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Aug-24

If a Federal Election were held now the result would be ‘too close to call’, with the Coalition on 50.5% (up 1%) just ahead of the ALP on 49.5% (down 1%) on a two-party preferred basis, the latest Roy Morgan survey finds. This a reverse of last week’s results but nevertheless the ALP or Coalition would require the support of minor parties and independents to form a minority government. The result once again highlights the importance of preference flows to determine the overall two-party preferred result. The Coalition primary vote increased by 1% to 39.5% while ALP primary support was down 1% to 29.5%. Support for the Greens was down 0.5% to 13% and support for One Nation was unchanged at 4%. Support for Other Parties was unchanged at 5% and support for Independents was up 0.5% to 9%.

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

Labor denies Setka’s claim of secret deal

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Original article by Paul Karp
The Guardian Australia – Page: 6 : 27-Aug-24

Former Construction, Forestry & Maritime Employees Union official John Setka told Seven’s Spotlighht program on Sunday that he had been given the impression that the CFMEU would be "left alone" if he quit. However, the suggestion that the federal government had agreed to let Setka stand down in return for not placing the CFMEU into administration has been rejected by the federal government, with workplace relations minister Murray Watt saying that claims by Setka that Labor double-crossed him over the issue were "absolutely fanciful".

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS

Business split over right to disconnect law

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Original article by Matt Bell, David Ross
The Australian – Page: 17 : 27-Aug-24

Unions have welcomed the federal government’s ‘right to disconnect’ reforms, describing them as a "cost-of-living win" for workers. However, shadow finance minister Jane Hume says the right to disconnect laws are "completely unworkable"; she contends that employers have been discussing this issue with their staff for many years, so legislation is not necessary. NIB Holdings CEO Mark Fitzgibbon is amongst the business leaders who have also questioned whether the right to disconnect laws are needed. Bendigo & Adelaide Bank CEO Marnie Baker in turn says workers should be able to choose whether to disconnect from their employer outside of working hours.

CORPORATES
NIB HOLDINGS LIMITED – ASX NHF, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

Docked pay, red cards for badly behaved politicians

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Original article by Olivia Ireland
The Sydney Morning Herald – Page: Online : 21-Aug-24

The federal government will belatedly introduce a bill on Wednesday to establish an Independent Parliamentary Standards Commission. The proposed commission was one of the key recommendations of a landmark 2021 report by former sex discrimination commissioner Kate Jenkins, and it was originally intended to be operation by the end of 2023. It will have the power to investigate allegations of breaches of parliamentary standards by MPs, senators and their staffers. Amongst other things, politicians could be be suspended from parliament or be fined up to five per cent of their base salary for any breaches of the standards.

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