AUSTRALIA – POLITICS AND GOVERNMENT

Investment tax break call falls on deaf ears

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Original article by Brad Thompson
The Australian Financial Review – Page: 6 : 19-Jun-24

The federal government has declined to state its position on whether companies with links to China will be eligible to receive production tax credits. Resources Minister Madeleine King says the main purpose of this incentive is to encourage the downstream processing of critical minerals in Australia. She acknowledged that China-based Tianqi is doing this at its Kwinana lithium processing plant in Western Australia. Chinese Premier Li Qiang visited the plant on Tuesday, accompanied by Prime Minister Anthony Albanese. Li has told China’s state-run media that he hopes for a "fair and non-discriminatory" business environment for Chinese companies that have assets in Australia.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TIANQI LITHIUM CORPORATION

Treasurer on the defensive as RBA raises alarm over big-spending budgets

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Original article by Patrick Commins
The Australian – Page: 1 & 4 : 19-Jun-24

Reserve Bank governor Michele Bullock says the central bank’s board is prepared to "do what is necessary" to restore inflation to its target range by mid-2025. The RBA’s decision on Tuesday to leave the cash rate unchanged at 4.35 per cent had been widely expected by economists. Bullock has indicated that the board had considered a rate rise, while a rate cut had not been on the agenda; she notes that the inflation figures for April were "a bit higher than expected". The RBA also expressed concern in its monetary policy statement that cost-of-living relief and other spending measures in federal and state budgets may fuel inflation. However, Treasurer Jim Chalmers says the government’s strategy is "the right one".

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Australian federal politicians awarded 3.5% pay rise by independent tribunal

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Original article by Sarah Basford Canales
The Guardian Australia – Page: Online : 18-Jun-24

The Remuneration Tribunal has defended its pay rise for federal public office holders, stating that it took into account factors such as the minimum wage case, changes in private and public sector wages and the budget position. MPs, senators and bureaucrats will receive a pay rise of 3.5 per cent from 1 July, and the independent tribunal notes that they have received a ‘modest’ cumulative pay rise of just 18.25 per cent since 2015. The salary of Prime Minister Anthony Albanese will rise by more than $20,000 a year, to $607,471; Opposition leader Peter Dutton will in turn be paid $432,239 a year, an increase of about $25,000. The salary of Department of Prime Minister & Cabinet secretary Glyn Davis will rise $34,202 a year to more than $1m.

CORPORATES
AUSTRALIA. REMUNERATION TRIBUNAL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA

‘More secretive than the Morrison government’: Labor accused of transparency failure

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Original article by Amy Remeikis
The Guardian – Page: Online : 18-Jun-24

When they were in opposition, Labor MPs were critical of the Morrison government over what they claimed was its secrecy and its failure to deal with issues of transparency issues. However, independent MPs, who were elected on a platform to boost transparency and restore trust in Australian democracy, claim that Labor is more secretive in government than the Morrison government was. Independent MP Andrew Wilkie, who has been in federal parliament for 14 years, rates the Albanese government as a "a fail for transparency", while fellow independent MP Helen Haines contends the major parties only believe in transparency when they are in opposition.

CORPORATES
AUSTRALIAN LABOR PARTY

ALP & Coalition are now even on two-party preferred terms in mid-June: ALP 50% cf. L-NP 50%

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jun-24

The Albanese Government and the Liberal-National Coalition are now ‘dead even’ on two-party preferred terms: ALP 50% (down 3.5%) cf. Coalition 50% (up 3.5%). If a Federal Election were held now the result would be too close to call with a hung parliament and the support of minor parties and independents required for either the ALP or Coalition to form a minority government, the latest Roy Morgan survey shows. The major States of New South Wales, Victoria and Queensland drove the swing to the Coalition this week with each State swinging by at least 3% away from the Government. Primary support for the Coalition increased 3% to 38% this week. The increase for the Coalition came at the expense of the ALP, down 1% to 29.5%, and the Greens, down 2% to 13.5%. Support for One Nation was down 0.5% to 5%, support for Other Parties was up 1.5% to 5.5% and support for Independents was down 1% at 8.5%.

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

Setka threat to AFL may be unlawful

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 1 & 8 : 14-Jun-24

Workplace Relations Minister Tony Burke says the CFMEU’s proposed work-to-rule campaign against the AFL is likely to constitute unlawful industrial action. Steven Amendola, a partner at law firm Kingston Reid, adds that the threat of industrial action unless the AFL agrees to sack head of umpiring Stephen McBurney could breach adverse action laws; he also suggests that the threat could potentially fall within Victoria’s blackmail laws. The CFMEU’s John Setka contends that the proposed action is not unlawful as construction workers will simply adhere to their regular hours and not work overtime or on rostered days off.

CORPORATES
CONSTRUCTION, FORESTRY AND MARITIME EMPLOYEES UNION, AUSTRALIAN FOOTBALL LEAGUE, AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, KINGSTON REID

‘We’ll lift social media access age in first 100 days’: Dutton

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Original article by Sarah Ison
The Australian – Page: 4 : 13-Jun-24

Opposition leader Peter Dutton says legislation to ban children under the age of 16 from accessing social media would be a top priority for a Coalition government. Dutton says the Coalition will introduce such legislation within its first 100 days in office if it wins the next federal election. Communications Minister Michelle Rowland contends that many social media platforms already have age limits, but they are often not enforced and can be easily bypassed. She notes that the federal government is investing $6.5m in a trial of age assurance technology.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT, COMMUNICATIONS AND THE ARTS

Dutton’s surprise climate policy proves he ‘can’t be taken seriously’, Albanese says

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Original article by Karen Middleton, Josh Butler
The Guardian Australia – Page: Online : 13-Jun-24

The Coalition’s stance on climate policy is under scrutiny after Opposition leader Peter Dutton indicated that its 2030 emissions reduction target will not be disclosed until after the federal election. Prime Minister Anthony Albanese has criticised his refusal to commit to a firm emissions target; he contends that Dutton cannot be taken seriously as the alternative prime minister without a serious policy on energy and climate. However, the Coalition has emphasised that it remains committed to the Paris climate agreement and a net zero emissions target of 2050.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Dutton delays climate target, blasts teals

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Jun-24

Opposition leader Peter Dutton says a Coalition government would scrap Labor’s legislated 2030 target to reduce carbon emissions by 43 per cent on 2005 levels. He contends that this target is not achievable and would result in higher power prices. Dutton adds that the Coalition will not release its alternative emissions reduction target until after the federal election, stating that it will take into account the "prevailing economic conditions" at the time. Dutton has also reiterated the Coalition’s support for a net zero emissions target of 2050. Meanwhile, he contends that teal MPs are out of touch with average families who are struggling to pay their power bills, and argues that some of them are essentially Greens.

CORPORATES
LIBERAL PARTY OF AUSTRALIA

Economy on track for soft landing: Chalmers

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Original article by Patrick Commins, Geoff Chambers
The Australian – Page: 4 : 12-Jun-24

Treasurer Jim Chalmers will use a speech on Wednesday to defend the federal government’s high-spending 14 May budget. He will contend that it would be irresponsible for the government to cut its expenditure too deeply in the current environment of flat economic growth and high interest rates. He will also state that Labor’s "more balanced approach" will bring inflation under control without "crunching the economy". Chalmers will in turn state that the government is "cautiously confident" that the economy will experience a ‘soft landing’.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY