Workplace hitch to PM growth pitch

Original article by Andrew Tillett, Matthew Cranston, John Kehoe
The Australian Financial Review – Page: 1 & 4 : 24-Apr-19

Council of Small Business Organisations CEO Peter Strong says industrial relations reform will be essential if the federal government is to achieve its goal of creating 250,000 new small businesses over the next five years. Australian Chamber of Commerce & Industry CEO James Pearson says that in addition to workplace reforms, the government must invest in training and take action to reduce power prices. The Institute of Public Affairs adds that action to reduce the red tape burden is also necessary.

CORPORATES
COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, INSTITUTE OF PUBLIC AFFAIRS LIMITED, QUANTUM BUSINESS FINANCE PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Free TV miffed by government’s iceberg of policy in a sea of nothing

Original article by Max Mason
The Australian Financial Review – Page: 9 : 15-Apr-19

Free TV Australia CEO Bridget Fair has criticised the federal government’s failure to relax the content requirements of traditional broadcasters after nearly six years in office. She was responding to its decision to allow streaming video companies to access tax offsets for content that is filmed in Australia. Traditional broadcasters remain subject to quotas for content such as children’s programs and adult dramas. Fair contends that such quotas do not reflect changes in viewing habits.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, AMAZON PRIME VIDEO, TEN ALL-ACCESS

EV rollout threat to power grid

Original article by Ben Packham
The Australian – Page: 4 : 5-Apr-19

Energy Networks Australia has used a submission to a Senate inquiry to warn that the nation’s electricity grid may not be equipped to cope with the growing use of electric vehicles. The peak energy network body argued that incentives will be necessary to encourage consumers to recharge their electric cars during off-peak periods. Labor recently announced that it will require electric vehicles to account for 50 per cent of new car sales by 2030 if it wins the upcoming federal election.

CORPORATES
ENERGY NETWORKS AUSTRALIA, AUSTRALIAN LABOR PARTY, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE TREASURY

Lack of company tax cut biggest gripe

Original article by Ben Butler, Joyce Moullakis, Damon Kitney
The Australian – Page: 24 : 4-Apr-19

Business Council of Australia CEO Jennifer Westacott has reiterated the need for corporate tax cuts in the wake of the April 2019 Budget. She has described Australia’s current two-tiered company tax system as "bizarre", and notes that other nations are reducing their corporate tax rate while Australia’s remains one of the world’s highest. Meanwhile, the Australian Retailers Association’s executive director Russell Zimmerman says consumer spending should receive an immediate boost from the federal government’s proposed increase in the low- and middle-income tax offset.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIAN BANKING ASSOCIATION, THE AUSTRALIAN INDUSTRY GROUP, SUNCORP GROUP LIMITED – ASX SUN, MYOB GROUP LIMITED – ASX MYO, MORTGAGE CHOICE LIMITED – ASX MOC, STOCKLAND – ASX SGP

Start-ups reveal their federal budget wish-lists

Original article by Liz Main
The Australian Financial Review – Page: 19 : 2-Apr-19

Clarification concerning research and development tax incentives is one of the biggest points of interest for technology start-ups with regard to the federal government’s April 2019 Budget. Des Hang, the CEO and co-founder of vehicle subscription service Carbar, says it is too easy for larger companies to be able to claim tax breaks under the R&D incentive scheme. Investment in better education programs is something else that the technology sector wants to see, along with immigration reform.

CORPORATES
CARBAR, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ATLASSIAN CORPORATION PLC, 99DESIGNS PTY LTD, FINTECH AUSTRALIA PTY LTD

Meat sector calls for drought relief funds

Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 28-Mar-19

The Australian Meat Industry Council has released a report which shows that the industry’s regulatory cost burden is significantly higher than that of other major red meat-producing nations. The AMIC has called for government action to reduce export certification charges, which are estimated to cost the industry about $110m a year. CEO Patrick Hutchinson says these fees – which local producers must pay in full – are a key reason why Australian red meat is becoming globally uncompetitive.

CORPORATES
AUSTRALIAN MEAT INDUSTRY COUNCIL

LNG Asia price slump irks east coast manufacturers

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 20 : 28-Mar-19

The Asian spot price of LNG has fallen to a three-year low of around $US4.50 per million British thermal units, which equates to about $6.30 per gigajoule. In contrast, the spot price in Sydney is trading at around $11.25/GJ. Some gas buyers have urged the federal government to intervene by imposing restrictions on Queensland’s LNG exporters, but Resources Minister Matthew Canavan says the best way to put downward pressure on domestic prices is to find new sources of supply.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, SANTOS LIMITED – ASX STO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, WESTON ENERGY, INCITEC PIVOT LIMITED – ASX IPL, CLAYPAVE PTY LTD, REMAPAK PTY LTD, WORRELLS SOLVENCY AND FORENSIC ACCOUNTANTS

Tax big banks for implied guarantee

Original article by Michael Roddan
The Australian – Page: 25 : 22-Mar-19

Australia’s four major banks are able to access wholesale funding at cheaper rates because of an implied guarantee that the federal government will not let them fail because of their size. ME Bank CEO Jamie McPhee says governments should tax the bigger banks because they get cheaper funding as a result of the "too big to fail" guarantee, and that this would make it easier for smaller banks to compete. ME Bank has advised that its net profit for the second half of 2018 fell 11 per cent to $41 million.

CORPORATES
ME BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION

Migration cuts won’t harm economy: PM

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 21-Mar-19

Prime Minister Scott Morrison has downplayed concerns that a new cap on Australia’s permanent migrant intake will have an impact on economic growth. Business Council of Australia CEO Jennifer Westacott and Australia Industry Group CEO Innes Willox are among the business leaders who have warned that cutting the migrant intake could impact on the economy. Morrison argues that the larger cut advocated by some cabinet ministers would have had an effect on economic growth.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN LABOR PARTY, ONE NATION PARTY

Business wants more detail on ALP’s emissions reduction policy

Original article by Mark Ludlow
The Australian Financial Review – Page: 9 : 20-Mar-19

Business Council of Australia CEO Jennifer Westacott has urged both major political parties to reveal details of how their greenhouse gas emissions reduction targets will be achieved. She notes that a report by former bureaucrat Brian Fisher shows that the policies of both Labor and the Coalition will have an impact on the economy. Minerals Council of Australia CEO Tania Constable has called for a measured response to meeting Australia’s emissions reduction target to avoid any negative economic impact.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF PUBLIC POLICY