BIG BUSINESS – AUSTRALIA

Axe the red tape: Big business presses for Trump-like attack on regulation

roymorgansocial Leave a comment

Original article by Shane Wright
The Age – Page: Online : 4-Feb-25

The Business Council of Australia has urged the federal government and the opposition to adopt a Donald Trump-like attack on red tape, contending living standards will fall if business regulation is not reduced. The BCA’s biggest wish is for the creation of a minister for deregulation, while the BCA would like to see the Productivity Commission come up with an annual list of regulations that could be eliminated. Along with reduced regulation, the BCA would also like to see the company tax rate cut to 25 per cent, the adoption of investment allowances for all businesses and a possible increase to the GST.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA

Albanese backs grand bargain with big business and unions

roymorgansocial Leave a comment

Original article by Rachel Baxendale
The Australian – Page: 5 : 30-May-22

The ACTU and the Business Council of Australia have indicated they hope to use the federal government’s employment summit in September to implement an co-operative agenda that will see growth in productivity and higher wages. Prime Minister Anthony Albanese says the key to achieving such a "grand bargain" is a government that is willing to broker it, and that brings people together. He claims he has always said that unions and businesses have common interests, and that the best way to boost both wages and profits without putting pressure on inflation is by increasing productivity.

CORPORATES
ACTU, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

More big firms to get capex break

roymorgansocial Leave a comment

Original article by Tom McIlroy
The Australian Financial Review – Page: 1 & 11 : 23-Nov-20

Treasurer Josh Frydenberg is to expand the federal government’s business expense tax break so that more large companies can access it, with legislation to enact the changes to be introduced. Large companies that will now be able to access the scheme will include Coca-Cola Amatil and Boral, while large companies that will remain excluded include Wesfarmers, BHP, Telstra and Rio Tinto. Frydenberg says around 50 companies employing over 150,000 people are expected to benefit from the scheme’s expansion

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, BORAL LIMITED – ASX BLD, WESFARMERS LIMITED – ASX WES, BHP GROUP LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, RIO TINTO LIMITED – ASX RIO, AGL ENERGY LIMITED – ASX AGL, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG

Late payers put on notice

roymorgansocial Leave a comment

Original article by Robert Gottliebsen
The Australian – Page: 21 : 25-Jun-20

The federal government proposes to introduce a new supplier payments disclosure regime for businesses with turnover of $100m or more. They will be required to submit regular reports on how quickly they pay the invoices of small business suppliers. The disclosure regime takes effect at the start of 2021, but the 3,000 or so large enterprises that will be affected need to start preparing for it immediately. The proposed Payment Times Reporting Regulator will be responsible for enforcing the legislation and determining whether a supplier is a small business for the purposes of the disclosure regime.

CORPORATES

Shorten attacks BHP, business

roymorgansocial Leave a comment

Original article by John Kehoe, David Marin-Guzman
The Australian Financial Review – Page: 1 & 6 : 18-Jan-19

Federal Opposition Leader Bill Shorten has attacked BHP for replacing Australian seafarers with foreign crews on ships that transport iron ore from Western Australia to Wollongong. His criticism of BHP came during the launch of his "Queensland Jobs Not Cuts" bus tour on 17 January, with Shorten attacking big business and the wealth-off. Business leaders expressed concern about Shorten’s anti-big business rhetoric, with Australian Chamber of Commerce & Industry CEO James Pearson saying it is important that businesses of all sizes are successful.

CORPORATES
AUSTRALIAN LABOR PARTY, BHP GROUP LIMITED – ASX BHP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF THE TREASURY, MARITIME UNION OF AUSTRALIA

Top CEOs admit public trust deficit

roymorgansocial Leave a comment

Original article by James Thomson, Michael Smith, Tony Boyd
The Australian Financial Review – Page: 1 & 9 : 8-Dec-17

CEOs such as Coca Amatil CEO Alison Watkins say big business needs to do a better job of explaining its contribution to the economy to the general public. Origin Energy CEO Frank Calabria contends that the average Australian has tuned out to both government and big business, while departing Commonwealth Bank CEO Ian Narev says it is important that big business is willing to acknowledge its mistakes. APA Group CEO Michael Cormack says the federal government should stop using big business as a scapegoat for its own mistakes.

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, ORIGIN ENERGY LIMITED – ASX ORG, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, APA GROUP – ASX APA, QANTAS AIRWAYS LIMITED – ASX QAN, WESTPAC BANKING CORPORATION – ASX WBC, RIO TINTO LIMITED – ASX RIO, ENERGYAUSTRALIA PTY LTD, SANTOS LIMITED – ASX STO