AUSTRALIA – POLITICS AND GOVERNMENT

Migration, tax reform key to revival

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Original article by Geoff Chambers
The Australian – Page: 4 : 24-Aug-20

The Australian Industry Group has urged the federal government to pursue major changes to the nation’s tax system. The employers’ group says long-term tax reform measures should include an overhaul of the goods and services tax, the abolition of mining royalties and replacing fuel excise with road-user charges. It has also called for scheduled personal income tax cuts to be brought forward and business income tax relief to be extended. The AiGroup also wants the migrant cap to be increased, with priority given to skilled migrants.

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THE AUSTRALIAN INDUSTRY GROUP

Morrison wins crossbench support for jobs plans

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Original article by Rosie Lewis
The Australian – Page: 4 : 24-Aug-20

Centre Alliance will back the federal government’s push to extend temporary changes to the Fair Work Act which allow bosses to vary the hours an employee works and the duties they perform. One Nation senator Malcolm Roberts has signalled that he is also likely to side with the government, which would require only one more crossbench vote in the Senate. The industrial relations changes are linked to the government’s revised JobKeeper scheme. The bill will be put before parliament within days.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY

Aim is for 95pc to have corona jab: Morrison

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Original article by Richard Ferguson
The Australian – Page: 6 : 20-Aug-20

Prime Minister Scott Morrison has emphasised that it will not be compulsory for Australians to receive a COVID-19 vaccine. He had initially stated that vaccination would be "as mandatory as possible" and people would only be exempted on medical grounds. However, Morrison says his preference is for 95 per cent of Australians to be vaccinated, and the government will introduce measures aimed at encouraging a high rate of immunisation when and if an effective COVID-19 vaccination becomes available.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Business groups push to open international borders for economic boost

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Original article by Jennifer Duke
The Sydney Morning Herald – Page: Online : 20-Aug-20

Australian Chamber of Commerce & Industry CEO James Pearson is among the business leaders who have urged the federal government to re-open the nation’s international borders as soon as possible. He describes it as a "critically important step" in the Australian economy’s recovery from the COVID-19 pandemic, and he argues that domestic markets cannot sustain high employment and living standards. Australian Industry Group CEO Innes Willox and Business Council of Australia CEO Jennifer Westacott have also called for international travel restrictions to be eased as soon as possible.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, THE AUSTRALIAN INDUSTRY GROUP, BUSINESS COUNCIL OF AUSTRALIA

Joel Fitzgibbon warns of ALP split

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Original article by Greg Brown, Geoff Chambers
The Australian – Page: 1 & 2 : 20-Aug-20

Labor frontbencher Joel Fitzgibbon has expressed concern that the party could eventually split due to the growing divide between its traditional working-class and socially-progressive supporters. The shadow resources and agriculture minister has suggested that two separate Labor parties that are focused on cities and regional communities respectively could eventually govern in a coalition arrangement. Meanwhile, shadow treasurer Jim Chalmers will use a speech on 20 August to urge Labor to re-engage with traditional supporters who shunned the party at the 2019 federal election.

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AUSTRALIAN LABOR PARTY

JobKeeper could be expanded to deal with further coronavirus outbreaks

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Original article by Jennifer Duke
The Sydney Morning Herald – Page: Online : 10-Aug-20

The JobKeeper wage subsidy scheme is now expected to cost $101bn in total, after the federal government agreed to extend it beyond September at a lower rate. Finance Minister Mathias Cormann has emphasised the need to gradually phase out government support, although he has not ruled out further extending the scheme beyond March if the pandemic worsens. Labor contends that the government needs a plan to boost employment rather than focusing on the JobKeeper and JobSeeker schemes.

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AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Tax reform pushed onto the states

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 4 : 27-Jul-20

New South Wales Treasurer Dominic Perrottet has been leading a push for tax reform, including the goods and services tax, payroll tax and stamp duties. The federal government wants its NSW counterpart to outline clear proposals for tax reform, amid doubts as to whether Perrottet has much support within the state government for his proposals. Prime Minister Scott Morrison has previously stated that the federal government will not consider tax reform proposals unless there is agreement among the states, while Federal Liberal MP Jason Falinski contends that the worst taxes are state-based and can be changed without any involvement at federal level.

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NEW SOUTH WALES. THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Thatcher claim fighting words to Labor, ACTU

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Original article by Joe Kelly
The Australian – Page: 4 : 27-Jul-20

Australian Chamber of Commerce & Industry CEO James Pearson has backed a push to extend temporary changes to the Fair Work Act for employers that will not be eligible for the JobKeeper scheme after September. He has urged Labor and the ACTU to support extending the emergency measures, which allow bosses to vary the hours an employee works and the duties they perform. Shadow treasurer Jim Chalmers has expressed concern that the federal government wants to adopt an industrial relation policy similar to that of former British prime minister Margaret Thatcher.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, ACTU

L-NP (51.5%) increases lead over ALP (48.5%) in mid-July as second wave of COVID-19 hits Victoria

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Jul-20

Roy Morgan CEO Michele Levine explains: "The L-NP Government (51.5%, up 1% since June) leads the ALP (48.5%) in mid-July as a new wave of COVID-19 has forced the Melbourne metropolitan area back into lockdown. Roy Morgan Government Confidence Rating is down 9.5pts to 114.5 nationally from a month ago, but has fallen by a significant 16pts to only 104 in Victoria as other States have closed their borders to Victorians and the outbreak threatens the national economic recovery. In response the Federal Government has extended JobKeeper and JobSeeker until March 2021, however this has led to the forecast Federal Budget deficit blowing out to a record $186 billion for 2020/21."

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

AAA rating defies $184b deficit

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 24-Jul-20

The Australian economy will contract by 2.25 per cent in 2020-21, according to forecasts in the federal government’s economic update. The nation’s official unemployment rate is in turn projected to rise from 7.4 per cent at present to 9.25 per cent by the end of the year. Treasury has also forecast a Budget deficit of $85.5bn for 2019-20, rising to around $184.5bn in 2020-21. Meanwhile, the nation’s gross debt is slated to top $851.9bn in 2020-21. Moody’s and S&P have indicated that the economic update will have no impact on Australia’s triple-A credit rating.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS