AUSTRALIA – POLITICS AND GOVERNMENT

China seeks Pacific states security deal

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Original article by Kirsty Needham, Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 1 & 6 : 26-May-22

China aims to increase its presence in the Indo-Pacific region with a proposed deal with 10 Pacific Island nations. The deal would cover policing, security and communications, as well as a free-trade agreement. China has sent a draft communique to the 10 nations, but it has been rejected by the Federated States of Micronesia; President David Panuelo has expressed concern that the ‘predetermined joint communique’ could spark a new Cold War between China and the West. Australia’s Foreign Minister Penny Wong says China has made its intentions clear, and stresses that the new federal government wants to regain Australia’s position as the partner of choice in the Pacific.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Nation ‘needs to expect bad news’: Chalmers

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Original article by Patrick Commins
The Australian – Page: 1 & 4 : 26-May-22

The Coalition’s pre-election economic and fiscal outlook had forecast a Budget deficit of $80bn in 2021-22 and $78bn in the following financial year, before falling to $43bn by 2025-26. However, Treasurer Jim Chalmers has warned that Labor’s first Budget in October will reveal that the nation’s finances are in a much worse state than the pre-election update had indicated. Chalmers says inflation, rising interest rates and falling real wages are the "defining challenges" for the Australian economy. Finance Minister Katy Gallagher has emphasised the need for strong fiscal discipline.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Nationals brawl over hydrogen

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 8 : 27-Apr-22

The federal government has committed more than $1bn to the development of hydrogen hubs as part of its net-zero emissions strategy. However, National Party senator Matt Canavan says energy policy should focus on building new coal-fired power stations rather than hydrogen hubs, arguing that Australia needs a reliable energy supply now. Nationals leader Barnaby Joyce has defended Canavan’s stance on coal but says that unlike Labor, the Coalition’s policies will allow the nation to have both a coal and hydrogen industry. Joyce has rejected Canavan’s call for Australia to put its net zero strategy on hold.

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NATIONAL PARTY OF AUSTRALIA

Stealth carbon tax warning

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Original article by Greg Brown
The Australian – Page: 1 & 5 : 27-Apr-22

Prime Minister Scott Morrison has stressed that the federal government is fully committed to its net-zero emissions target of 2050, after Nationals senator Matt Canavan claimed that other countries are abandoning the this target. Meanwhile, Whitehaven Coal CEO Paul Flynn claims that Labor’s proposed changes to the government’s safeguard mechanism for large industrial emitters constitutes a "carbon tax by stealth". Labor has confirmed that coal mines will be included in a revised safeguard mechanism if it wins the federal election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Labor defends agricultural visa scheme as farmers brace for minimum wage rise

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Original article by Natasha May
The Guardian Australia – Page: Online : 27-Apr-22

Labor will make changes to the federal government’s Pacific Australia Labor Mobility scheme if it wins the 21 May election. It will introduce a Pacific Engagement Visa for agricultural workers from the Pacific Islands, which will offer a pathway to permanent residency. Meanwhile, a minimum wage for horticultural workers will take effect from Thursday; Daniel Walton of the Australian Workers’ Union describes it as a "momentous shift" for fruit pickers, saying they have been "routinely and systemically exploited and underpaid" under the piece rate system.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Labor to regulate buy now, pay later

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Original article by Glenda Korporaal
The Australian – Page: 19 : 27-Apr-22

Shadow financial services minister Stephen Jones has flagged greater regulation of the ‘buy now, pay later’ sector if Labor wins the federal election. Jones says the BNPL sector is operating in an "ambiguous" regulatory space, and he contends that it requires some degree of regulation as it is directly competing with credit providers. He has also indicated that Labor will take action to halt a sharp decline in the number of financial advisers, with many leaving the industry in recent years due to federal government reforms.

CORPORATES
AUSTRALIAN LABOR PARTY

L-NP closes gap on ALP for second straight week after the first Leaders’ Debate: ALP 54.5% cf. L-NP 45.5%

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Apr-22

A Roy Morgan Poll conducted during the second week of the federal election campaign shows the L-NP gaining 0.5% points on a two-party preferred basis, but still well behind the ALP (54.5% cf. L-NP 45.5%). This is the closest since early November 2021, when the two-party preferred lead was 7% points: ALP 53.5% cf. L-NP 46.5%. If a Federal Election had been held last weekend the ALP would have won a clear majority. Primary support for the L-NP was unchanged at 35.5% and remains just ahead of the ALP on 35%, also unchanged from a week ago. Analysis by State shows that the ALP now leads in four States on a two-party preferred basis, but the L-NP has regained the lead in Queensland and has increased its lead in Western Australia. Meanwhile, the Roy Morgan Government Confidence Rating increased 6pts to 92 in the second week of the election campaign; now 38.5% (up 3.5% points) of Australians say the country is ‘heading in the right direction’, while 46.5% (down 2.5% points) say the country is ‘heading in the wrong direction’. This Roy Morgan Poll on Federal voting intention and Government Confidence was conducted via telephone and online interviewing of 1,393 Australian electors aged 18+ from Monday April 18-24.

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

Fast-track tax cuts off budget plan

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Original article by Simon Benson, Geoff Chambers
The Australian – Page: 1 & 6 : 16-Mar-22

Senior federal government sources have indicated that bringing forward the stage-three income tax cuts will not be on the agenda for the Budget on 29 March. The government will instead seek to address cost-of-living pressures with temporary and targeted assistance. The final stage of the government’s tax cuts package is slated to take effect in 2024-25; Deloitte Access Economics partner Chris Richardson says bringing forward the tax cuts is not necessary given that Australia’s unemployment rate is close to a five-decade low, and he warns that such a move would risk driving up inflation. The government has also considered extending the low-and-middle-income tax offset for another year.

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DELOITTE ACCESS ECONOMICS PTY LTD

Mining, defence top agenda on PM’s Perth visit

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 16-Mar-22

The federal government will provide four critical minerals projects with funding via its $1.3 billion modern manufacturing initiative. The $243m funding package will be announced by Prime Minister Scott Morrison during his trip to Western Australia; the projects include a battery material refinery hub near Kalgoorlie and a rare earth separation plant in the Northern Territory. Industry Minister Angus Taylor says the government support is aimed at addressing China’s global dominance of critical minerals supply. Morrison has also announced a $4.3bn upgrade of the Henderson naval shipyards in WA.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

United Australia Party’s $80m-plus war chest sparks call to limit election spending

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Original article by Christopher Knaus
The Guardian Australia – Page: Online : 23-Feb-22

The Centre for Public Integrity has outlined a range of proposed measures aimed at removing the influence of money in federal politics. Amongst other things, it has proposed capping donations to political parties, reducing the disclosure threshold for campaign donations to $1,000 and strengthening the Australian Electoral Commission’s powers to enforce donation laws. The Centre’s reform blueprint follows the United Australia Party’s recent revelation that its campaign budget for the upcoming federal election will exceed the $80m it spent on the 2019 poll.

CORPORATES
CENTRE FOR PUBLIC INTEGRITY, UNITED AUSTRALIA PARTY