AUSTRALIA – POLITICS AND GOVERNMENT

BCA pushes against same job, same pay law

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 17-May-23

The Business Council of Australia contends that the federal government’s proposed ‘same job, same pay’ laws for labour hire firms are not necessary. The BCA has used its submission to a consultation paper on the reforms to argue that they could have unintended consequences, such as the increased use of casual labour and fewer enterprise agreements. The BCA also says the reforms should be restricted to traditional labour hire firms rather than including in-house ones such as BHP’s Operations Services division. The labour hire changes will be a key part of the government’s second tranche of industrial relations reforms.

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BUSINESS COUNCIL OF AUSTRALIA

Rinehart’s dire mining prediction

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Original article by John Stensholt
The Australian – Page: 13 & 18 : 17-May-23

Mining magnate Gina Rinehart notes that mining capital expenditure is currently about $40bn a year, compared with more than $100bn annually at the peak of the previous mining boom about a decade ago. Rinehart describes the $60bn investment gap as a missed opportunity for Australia. She contends that government policy needs to be more supportive of the resources sector if Australia is to continue to produce future-facing commodities that are needed for the energy transition. Rinehart adds that the remaining mine life of Hancock Prospecting’s Roy Hill project is about 10 years, but this can be extended if the regulatory regime is more amenable.

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HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD

Dole hike strikes the right balance

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Original article by Sarah Ison
The Australian – Page: 5 : 10-May-23

The federal government’s 2023 budget includes some $4.9bn worth of measures for people who are unemployed. Treasurer Jim Chalmers has announced that welfare payments such as JobSeeker will rise by $40 a fortnight, which equates to an increase of less than six per cent. In contrast, the government’s Economic Inclusion Advisory Committee had recommended a 40 per cent increase. The government will also reduce the age threshold for older unemployed Australians to qualify for a higher JobSeeker payment from 60 to 55; Chalmers notes that many people aged 55+ struggle to find work, with women in particular being over-represented in this age group.

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AUSTRALIA. DEPT OF THE TREASURY

Tax bonanza but slower growth ahead

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Original article by Joyce Moullakis
The Australian – Page: 25 & 28 : 10-May-23

The budget papers show that the federal government’s corporate tax take is slated to total $138.4bn in 2022-23, compared with $123.3bn in 2021-22. Company tax receipts up to March were $7.6bn higher than had been forecast in Labor’s first budget in October, reflecting the increase in earnings in sectors such as resources. However, company tax receipts are forecast to total $128.7bn in 2023-24 and $119.8bn in 2024-25. Treasurer Jim Chalmers noted in his budget speech that global economic growth is expected to slow significantly over the next two years, which will affect the domestic economy, businesses and exporters.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Iron ore, coal price rises add $22b to the bank

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Original article by Mark Ludlow
The Australian Financial Review – Page: B12 : 10-May-23

The budget papers show that the Treasury has upgraded its price assumptions for key export commodities. Treasury has traditionally adopted a conservative approach to commodity price forecasts, which was reflected in the federal government’s first budget in October. The iron ore price had been forecast to be around $US55 per tonne by now, but this has been upgraded to $US60/tonne. The price assumptions for LNG, thermal coal and metallurgical coal have also been upgraded. Treasury expects the revised price assumptions to boost the budget bottom line by around $2bn.

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AUSTRALIA. DEPT OF THE TREASURY

Coalition’s $50 JobSeeker rise more generous than Labor’s proposal, Pocock says

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Original article by Amy Remeikis, Paul Karp
The Guardian Australia – Page: Online : 3-May-23

The federal government is under scrutiny over reports that an increase in the JobSeeker payment in the 9 May budget will be restricted to people aged 55+. Independent senator David Pocock has called for an across-the-board increase in unemployment benefits and the youth allowance, saying it appears that younger people are being "left behind". Pocock adds that Labor risks being unfavourably compared to the former Coalition government, which increased JobSeeker and other support payments by $50 a fortnight in April 2021. Liberal MP Bridget Archer and teal MPs have also called for an increase in JobSeeker for all recipients.

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AUSTRALIAN LABOR PARTY

Jobs galore, but more on JobSeeker

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Original article by Geoff Chambers, Sarah Ison
The Australian – Page: 1 & 5 : 3-May-23

Data from the Department of Social Services shows that 921,000 people were receiving the JobSeeker and youth allowance payments at the end of March. The number of people receiving these payments has fallen by just 59,000 since Labor took office in May 2022, despite the unemployment rate having fallen to its lowest level in nearly five decades. Opposition leader Peter Dutton has urged the federal government to strengthen the ‘work for the dole’ program, which Treasurer Jim Chalmers has rejected. He says the 9 May budget will include measures aimed at supporting communities that are facing "entrenched, long-term unemployment".

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AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Dutton reshuffle promotes two Voice opponents

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 19-Apr-23

Opposition leader Peter Dutton has announced broader changes to his frontbench team than had been expected, in response to the resignation of Karen Andrews. Senator Jacinta Nampijinpa Price has replaced Julian Leeser as shadow minister for Indigenous Australians, while fellow Indigenous senator Kerrynne Liddle will have responsibility for child protection and the prevention of family violence. Price and Liddle both oppose the federal government’s proposed Indigenous Voice to parliament. Dutton supports constitutional recognition of Indigenous Australians, but he favours enacting a regional and local voice via legislation.

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LIBERAL PARTY OF AUSTRALIA

Burying a $34bn budget bomb

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Original article by Patrick Commins, Geoff Chambers
The Australian Financial Review – Page: 1 & 4 : 19-Apr-23

The federal government’s Economic Inclusion Advisory Committee has made 37 recommendations in a report that has been released ahead of the budget on 9 May. The Treasury’s modelling suggests that implementing all of the recommendations would cost more than $34bn over the forward estimates period. This includes $24bn for the committee’s proposal to increase the JobSeeker allowance to 90 per cent of the age pension. Treasurer Jim Chalmers has indicated that the government will consider some of the recommendations, but he has downplayed the prospect of a large increase in JobSeeker amid the need for fiscal restraint. However, he says the budget will include measures to address disadvantage.

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AUSTRALIA. DEPT OF THE TREASURY

Labor considering tougher anti-money laundering laws

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Original article by Tom McIlroy
The Australian Financial Review – Page: 2 : 13-Apr-23

A Senate committee recommended a number of changes to Australia’s money-laundering laws in a report that was released prior to the 2022 federal election. A spokesman for Attorney-General Mark Dreyfus has indicated that the federal government is considering the report. Amongst other things, the committee has called for the implementation of the Tranche 2 reforms, which would broaden the nation’s anti-money laundering and counter terrorism financing laws to apply to the real estate, accounting and legal professions. Australia, the US and Canada are the only major developed countries whose money-laundering laws do not apply to these sectors.

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AUSTRALIA. ATTORNEY-GENERAL’S DEPT