AUSTRALIA – POLITICS AND GOVERNMENT

Loss of patriot Molan leaves Libs with awkward decision

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Original article by Andrew Tillett
The Australian Financial Review – Page: 2 : 18-Jan-23

Opposition Leader Peter Dutton has paid tribute to NSW Liberal senator Jim Molan, who has died at the age of 72. The Australian Army veteran unsuccessfully contested the 2016 federal election, but he was appointed to fill a vacancy in the upper house when Nationals senator Fiona Nash was disqualified due to British citizenship by descent. Molan had more than five years left of his eight-year term, and senior Liberal sources have indicated that the party may delay filling the casual vacancy to avoid creating a distraction for the NSW government ahead of the state election in March. The seat could also potentially provide an opening for Premier Dominic Perrottet to enter federal politics if he loses the election.

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LIBERAL PARTY OF AUSTRALIA

Chalmers still open to JobSeeker increase

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Original article by Sarah Ison
The Australian – Page: 2 : 18-Jan-23

Australian Council of Social Service CEO Cassandra Goldie has called for the JobSeeker payment to be increased from $48 per day to at least $73. The Greens in turn advocate increasing it to $88 per day. Treasurer Jim Chalmers has indicated that he may be open to increasing JobSeeker, after some members of the federal government’s economic inclusion advisory committee supported such a move. However, he has reiterated the need to take into account other pressures on the economy. Gareth Aird from the Commonwealth Bank cautions that increasing JobSeeker would boost inflation and may create a disincentive for unemployed people to work.

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AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

No vote would be bad look: Albanese

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Original article by Paul Garvey
The Australian – Page: 2 : 11-Jan-23

Prime Minister Anthony Albanese says Australia’s international reputation would be damaged if the referendum on an Indigenous voice to parliament is defeated. He says a ‘no’ vote would send a bad message with regard to reconciliation, as well as the in the way Australia is perceived internationally. Albanese contends that the voice would be subservient to the parliament and will only be a voice of consultation on matters that affect Aboriginals and Torres Strait Islanders. Former prime minister Tony Abbott has cautioned that changing the Constitution should never be done lightly.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Bowen considers import carbon tariff

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Original article by Peter Ker
The Australian Financial Review – Page: 5 : 11-Jan-23

Climate Change and Energy Minister Chris Bowen says the federal government may be open to implementing a Carbon Border Adjustment Scheme along the lines of the one that will be introduced by the European Commission. Bowen says it is the right time for Australia to "cautiously" consider a tariff on imported products that have a large carbon footprint. However, such a scheme could potentially affect Australia’s key trading partners such as China, Japan and the US. Bowen says any decision on such a scheme will be not be made by July, when changes to the safeguard mechanism will take effect.

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AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER

Labor caps carbon price

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 5 : 11-Jan-23

Australia’s 215 biggest industrial polluters will be required to reduce their greenhouse gas emissions by an average of 4.9 per cent annually between 2023 and 2030, under the federal government’s changes to the safeguard mechanism. The changes take effect on 1 July, and will apply to sectors such as mining, oil and gas, manufacturing and transport. The government will cap the carbon price for heavy emitters at $75 per tonne, although it will rise in line with the inflation rate. The government will also provide $600m from the Powering the Regions Fund to assist trade-­exposed businesses and regions to ­invest in technologies that will lower their carbon emissions.

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Chalmers asks ACCC to probe deposit rates

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Original article by Ayesha de Kretser
The Australian Financial Review – Page: 12 & 15 : 11-Jan-23

Treasurer Jim Chalmers says consumers with savings accounts should consider switching banks to get a better deal, given that some banks still have low deposit interest rates despite eight increases in the cash rate during 2022. Chalmers contends that banks should treat their customers fairly with regard to savings accounts, and he has asked the Australian Competition & Consumer Commission to examine this issue in 2023. Analysis shows that smaller banks generally have much more competitive interest rates on deposit accounts than the nation’s four major banks.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Labor urged to keep golden ticket investor visa primarily used by Chinese migrants

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Original article by Paul Karp
The Guardian Australia – Page: Online : 10-Jan-23

The Productivity Commission recommended abolishing the significant investor visa in 2016, and Home Affairs Minister Clare O’Neil stated in September 2022 that the visa could be scrapped because it is not "adding value" to Australia. However, the Australia China Business Council has used its submission to a migration review to argue that these visas can generate significant economic benefits and should be retained. Some 2,300 significant investor visas have been granted since 2012, with migrants from Chinese receiving some 85 per cent of them.

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AUSTRALIA. PRODUCTIVITY COMMISSION,AUSTRALIA. DEPT OF HOME AFFAIRS,AUSTRALIA CHINA BUSINESS COUNCIL

State coal power to reap $500m-plus

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Original article by Max Maddison
The Australian – Page: 1 & 2 : 4-Jan-23

Households and small businesses will receive some $1.5bn in price relief via the federal government’s energy plan, which will cap gas and coal prices. Coal-fired power generators will in turn be entitled to compensation over the decision to cap coal prices at $125 per tonne. It has been estimated that coal-fired power stations in New South Wales could receive about $500m in compensation, with their Queensland counterparts could potentially be entitled to $750m in compensation. Independent senator David Pocock has criticised the government in the wake of revelations that mining company Rio Tinto and its partners could receive around $450m in compensation because they own the Gladstone power station.

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RIO TINTO LIMITED – ASX RIO

China’s Covid payback threat

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Original article by Greg Brown,Will Glasgow
The Australian – Page: 1 & 2 : 4-Jan-23

A growing number of countries will require travellers from China to undergo pre-flight testing for COVID-19. However, Chinese authorities believe that such measures are not necessary, and foreign ministry spokeswoman Mao Ning has warned that the nation will take reciprocal action against countries that impose testing requirements that apply only to travellers from China. Meanwhile, the federal government has released more details of its new rules for travellers from China, which take effect from Thursday. Amongst other things, they will have to test negative for the coronavirus 48 hours before departure, and people who use a rapid antigen test must have it administered and supervised by a medical practitioner.

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‘Safety first’: business leader backs virus testing for China

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Original article by Georgie Moore
The Australian Financial Review – Page: 2 : 4-Jan-23

Former Australia-China Council chairman Warwick Smith has expressed support for the federal government’s move to impose COVID-19 testing requirements on travellers from China. Smith does not expect it to have any impact on the ability of Australian companies to do business in China, amid signs of improving relations between the two nations. He adds that other countries are adopting similar measures. Meanwhile, the Opposition has questioned the government’s decision to ignore the advice of Chief Medical Officer Paul Kelly, who does not believe that the new testing requirements are necessary.

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AUSTRALIA-CHINA COUNCIL,AUSTRALIA. DEPT OF HEALTH