AUSTRALIA – POLITICS AND GOVERNMENT

$13b surplus tipped but Labor needs credible plan

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Original article by Ronald Mizen
The Australian Financial Review – Page: 7 : 1-May-24

Deloitte Access Economics expects the federal government to post a budget surplus of $13.4bn for 2023-24. The government itself had forecast a full-year deficit of $1.1bn in its mid-year economic and fiscal outlook in December. Deloitte says the budget bottom-line will be boosted by $14.5bn in additional company tax receipts and a $5.6bn increase in personal income tax revenue due to the strong labour market. Deloitte partner Stephen Smith says that while Labor is on track for a second successive budget surplus, this is unlikely to be repeated in 2024-25 due to the goverment’s spending plans. Smith adds that the Future Made in Australia policy could further undermine the budget position.

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DELOITTE ACCESS ECONOMICS PTY LTD

Brutal portrait of ALP’s detainee woes – and ministers go missing in action

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Original article by Geoff Chambers, Paul Garvey
The Australian – Page: 1 & 2 : 30-Apr-24

The federal government is under renewed scrutiny following revelations that a former immigration detainee participated in a home invasion in which a 73-year-old woman was brutually assaulted. It is alleged that Kuwait national Majid Jamshidi Doukoshkan was one of three men who robbed a Perth couple. He was released into the community in late 2023 after the High Court ruled that indefinite detention is unlawful. Doukoshkan was granted bail earlier in 2024 after being charged with two counts of breaching a curfew order. The Opposition has called on Prime Minister Anthony Albanese to sack Home Affairs Minister Clare O’Neil and Immigration Minister Andrew Giles if they refuse to accept responsibility for the detainee disaster.

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HIGH COURT OF AUSTRALIA

Spending cuts must take heat off rates

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Original article by John Kehoe
The Australian Financial Review – Page: 4 : 30-Apr-24

Economists are calling on the federal government to cut net discretionary spending in its 14 May budget, contending that such spending is making it harder for the Reserve Bank to combat inflation. Shadow treasurer Angus Taylor and Coalition finance spokeswoman Jane Hume said on Monday that the government should "restore budget discipline" by reintroducing the Coalition’s 23.9 per cent tax-to-GDP cap. Treasurer Jim Chalmers responded by claiming that the Coalition is advocating cuts to spending.

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RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

ALP maintains election winning lead over Coalition in late April: ALP 52% cf. L-NP 48%

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-Apr-24

The Albanese Labor Government has retained the lead for the second week in a row with support on 52% (unchanged) ahead of the Coalition on 48% (unchanged) on a two-party preferred basis. If a Federal Election were held now the ALP would be re-elected with a slim majority as they have now, the latest Roy Morgan survey shows. Primary support for both major parties increased this week, at the expense of the Greens, with the ALP up 1% to 31.5% but still behind the Coalition, up 1% to 36.5%; support for the Greens dropped 2% to 14%. Looking at the minor parties, support for One Nation was unchanged at 5.5%. Support for Independents was up 0.5% to 8% and support for Other Parties was down 0.5% to 4.5%. The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,719 Australian electors from April 22-28. When comparing different polls it is always important to make sure to take note of the dates when the polls are conducted to undertake a proper comparison between two polls. Further details will be released in Roy Morgan’s weekly video update presented by CEO Michele Levine

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

Morrison on meds: toll of top office laid bare

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Original article by Cameron Stewart
The Australian – Page: 1 & 2 : 26-Apr-24

Former prime minister Scott Morrison has revealed that he experienced "debilitating and agonising" anxiety during much of his tenure in the nation’s top job. Morrison says his anxiety became increasingly acute as he steered the nation through challenges such as the COVID-19 pandemic and strained relations with China, and his doctor eventually prescribed medication to help him to cope with the medical condition. Morrison says the "unrelenting and callous" brutality of politics and media attacks contributed to his anxiety, but he acknowledges that this is the reality of politics.

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Musk’s lawyers to fight orders on two fronts

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Original article by Nick Bonyhady, Tess Bennett, Tom McIlroy
The Australian Financial Review – Page: 4 : 24-Apr-24

Social media giant X could incur a fine of up to $782,500 for each day it does not comply with a directive to remove video footage of the Sydney church stabbing from its platform. However, X owner Elon Musk contends that the ‘take-down’ order goes too far, given that it applies globally. The US billionaire has expressed concern about one country being allowed to censor content for all countries. Musk’s lawyers have indicated that they could challenge the take-down order in the Administrative Appeals Tribunal. Prime Minister Anthony Albanese has described Musk as an egotist and accused him of being "out of touch with common decency". Meanwhile, the Coalition has proposed barring young children from using social media to protect them from harmful content.

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X CORPORATION, AUSTRALIA. ADMINISTRATIVE APPEALS TRIBUNAL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PM betraying Hawke reforms

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Original article by Joe Kelly, Patrick Commins
The Australian – Page: 1 & 4 : 24-Apr-24

Former prime minister John Howard has criticised the federal government’s Future Made in Australia policy. Howard has likened the policy to the "new protectionism" that had been derided by former Labor prime minister Bob Hawke more than three decades ago, and describes it as a betrayal of the reforms undertaken by the Hawke and Keating governments. Prime Minister Anthony Albanese has described critics of the policy as "flat earthers", but Howard says Albanese "is a flat-earther with the best of them".

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

‘Out of control’: Meta has Whitlam as our No.1 PM

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Original article by Jared Lynch
The Australian – Page: 4 : 23-Apr-24

Shadow communications minister David Coleman has criticised Meta Platforms after it released the latest version of its artificial intelligence tool. When asked to rank Australia’s best prime ministers, the Meta tool listed Gough Whitlam first, despite the former Labor leader being the nation’s only prime minister to have been sacked by the governor-general. Malcolm Turnbull was the only Liberal prime minister in the AI tool’s list of the nation’s top five leaders. Coleman has accused Meta of either "deliberate bias or gross incompetence". Former Victorian Liberal Party president Michael Kroger says the results demonstrate a "strong left wing bias" at Meta, and show that technology companies should be regulated in the same way as conventional media.

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META PLATFORMS INCORPORATED, LIBERAL PARTY OF AUSTRALIA

ALP regains two-party preferred lead as Coalition loses ground: ALP 52% cf. L-NP 48%

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Original article by Roy Morgan
Market Research Update – Page: Online : 23-Apr-24

In a week that saw Israeli strikes on Iran which had the potential to set off a wider war in the Middle East, two knife attacks in Sydney, and the judgment handed down against Bruce Lehrmann, the Labor Government has regained the lead with support up 3% to 52% to be ahead of the Coalition on 48% (down 3%) on a two-party preferred basis. If a Federal Election were held now the ALP would be re-elected with a slim majority as they have now, the latest Roy Morgan survey shows. Primary support for the ALP increased 0.5% to 30.5% but is still behind the Coalition on 35.5%, down 3%. A look at the support by gender shows women’s support for the Coalition dropped significantly this week – by nearly 4% to only 32% after Justice Michael Lee handed down his judgment in the Lehrmann case. Men’s support for the Coalition was down 2.5% to 39%. Support for the Greens returned to, and marginally exceeded, its highs of two weeks ago, up 2.5% to 16% while One Nation was unchanged at 5.5%. Support for Independents was unchanged at 7.5% and support for Other Parties was unchanged at 5%. The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,617 Australian electors from April 15-21, 2024. When comparing different polls it is always important to make sure to take note of the dates when the polls are conducted to undertake a proper comparison between two polls. Further details will be released in Roy Morgan’s weekly video update presented by CEO Michele Levine.

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

Made in Australia ‘a bit risky’: former RBA boss

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Original article by Michael Read
The Australian Financial Review – Page: 5 : 16-Apr-24

The federal government’s proposed Future Made in Australia Act has come under fire from former Reserve Bank of Australia governor Bernie Fraser, who contends that it represents a risk to taxpayers. Fraser says governments do not have a good track record when it comes to ‘picking winners’ in terms of identifying successful industry sectors. AMP’s chief economist Shane Oliver has described the policy as "depressing".

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RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP