BUSINESS AND POLITICS – AUSTRALIA

IR reform urgent for economy

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Original article by Rosie Lewis
The Australian – Page: 1 & 4 : 8-Jul-19

Business leaders have identified changes to the industrial relations system as a priority for the federal government following the passage of its income tax cuts package. Australian Industry Group CEO Innes Willox and Australian Resources & Energy Group CEO Steve Knott say the reform agenda should include changes to the ‘better off overall test’ for enterprise agreements, passing the Ensuring Integrity Bill and Proper Use of Worker Benefits Bill, and a review of unfair dismissal and adverse action laws. They argue that major changes to the Fair Work Act are not necessary.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN RESOURCES AND ENERGY GROUP, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. FAIR WORK COMMISSION

$15bn kickstart for economy

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Original article by Geoff Chambers, Adam Creighton, Greg Brown, Michael Roddan
The Australian – Page: 1 & 4 : 5-Jul-19

Harvey Norman executive chairman Gerry Harvey says the federal government’s income tax cuts will boost the retail sector and consumer spending. The tax cuts have also been welcomed by Business Council of Australia CEO Jennifer Westacott, who says further action is needed to ensure long-term economic growth. Meanwhile, Chris Richardson of Deloitte Access Economics expects the tax cuts to have a bigger impact in the near-term than the recent interest rate cuts. Labor agreed to back the full tax package in the Senate after its proposal to bring forward the stage-two cuts and legislate stage three separately was rejected.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, BUSINESS COUNCIL OF AUSTRALIA, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN TAXATION OFFICE, ONE NATION PARTY, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

Media bosses in dark on charges

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Original article by Rosie Lewis
The Australian – Page: 4 : 4-Jul-19

Attorney-General Christian Porter and Communications Minister Paul Fletcher held talks with media industry representatives on 3 July. The meeting failed to ease the media sector’s concerns about Australian Federal Police raids on the ABC’s Sydney office and the home of a News Corp Australia journalist in early June, and whether journalists will face prosecution as a result of the raids. Media executives have also expressed reservations about the government’s plans for the parliamentary joint committee on intelligence and security to hold an inquiry into press freedom.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN BROADCASTING CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SPECIAL BROADCASTING SERVICE (SBS), FREE TV AUSTRALIA LIMITED, AUSTRALIA. PARLIAMENTARY JOINT COMMITTEE ON INTELLIGENCE AND SECURITY, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE

Super funds seek energy policy action

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Original article by Perry Williams
The Australian – Page: 17 & 28 : 25-Jun-19

Industry Super Australia says the nation’s energy policy needs to be overhauled quickly to prevent heavy industries going offshore. ISA contends that the amount of investment needed in electricity should be attracting the interest of portfolio investors, but a lack of certainty on energy policy means this is not occurring. ISA says there should be a focus on the creation of competition for long-term supply of energy and capacity at specified emissions targets, as well as the formation of special investment vehicles to encourage investment in the energy sector.

CORPORATES
INDUSTRY SUPER AUSTRALIA PTY LTD

Green tape priority for red tape review

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Original article by Andrew Tillett, Matthew Cranston
The Australian Financial Review – Page: 6 : 25-Jun-19

EnergyAustralia chairman Graham Bradley has welcomed the federal government’s decision to undertake a review of red tape. However, he notes that the regulatory burden on businesses has increased over the last 15 years, despite efforts to address the problem. Bradley has identified the duplication of approval processes between state and federal governments as one of the key contributors to project cost blowouts. Minerals Council of Australia CEO Tania Constable agrees that duplication is a problem, and she stresses the need for better regulation rather than simply more regulation.

CORPORATES
ENERGYAUSTRALIA PTY LTD, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BUSINESS COUNCIL OF AUSTRALIA, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Business urges new work rules

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 25-Jun-19

Prime Minister Scott Morrison discussed the federal government’s industrial relations policy in a speech to the Chamber of Commerce & Industry of Western Australia on 24 June. Business leaders have outlined the workplace reforms they would like to see during the Coalition’s third term in office. Australian Mines & Metals Association CEO Steve Knott says an overhaul of the enterprise bargaining system should be a priority, as well as changes to the ‘better off overall test’. Australian Chamber of Commerce & Industry CEO James Pearson in turn has called for changes to small business dismissal laws.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CHAMBER OF COMMERCE AND INDUSTRY OF WESTERN AUSTRALIA (INCORPORATED), AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, THE AUSTRALIAN INDUSTRY GROUP, ACTU, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, WOOLWORTHS GROUP LIMITED – ASX WOW, AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIA INSTITUTE LIMITED. CENTRE FOR FUTURE WORK

Canberra puts its foot on the gas

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Original article by Nick Evans, Paul Garvey
The Australian – Page: 17 & 28 : 20-Jun-19

The federal government will put pressure on Woodside Petroleum and its Browse LNG joint venture partners to commit to developing the gas project. The current retention lease expires in mid-2020, and Resources Minister Matt Canavan has warned that the Browse partners risk losing the licence if they cannot demonstrate that they are ready to make a final investment decision. Fortescue Metals Group is among the companies that could potentially take up the Browse lease if Woodside and its partners are forced to relinquish it.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROYAL DUTCH SHELL PLC, BP PLC, PETROCHINA COMPANY LIMITED

Media chiefs want urgent action on press freedom

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Original article by Max Mason
The Australian Financial Review – Page: 2 : 18-Jun-19

Nine Entertainment Company CEO Hugh Marks, News Corp Australasia executive chairman Michael Miller and ABC MD David Anderson will jointly address the National Press Club on 26 June. They will discuss the fallout from the Australian Federal Police’s media raids, and press the case for legislative reforms to provide greater protection for journalists and whistleblowers. The federal government is under pressure to hold a parliamentary inquiry into press freedom, but the media industry believes that changes to national security laws should be the priority.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN LABOR PARTY, ALLIANCE FOR JOURNALISTS’ FREEDOM

Sanjeev Gupta urges Canberra to underwrite energy plan

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Original article by Perry Williams
The Australian – Page: Online : 4-Jun-19

British billionaire Sanjeev Gupta says it is important to have new and competitive sources of power generation before ‘legacy generation’ is phased out. Gupta wants the re-elected Coalition government to expand the scope of its underwriting generation scheme, which Australian Competition & Consumer Commission chairman Rod Sims first proposed in 2018 as a way of encouraging new sources of power generation. Gupta, who rescued the Whyalla steelworks from administration in 2017, wants to build electric cars in Australia.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, LIBERTY HOUSE GROUP, SIMEC

Gas producers face export curbs

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Original article by Perry Williams, Greg Brown
The Australian – Page: 17 & 26 : 31-May-19

Manufacturing Australia CEO Ben Eade says the federal government must impose LNG export controls due to the high cost of gas in the domestic market. Resources Minister Matt Canavan has signalled that the government may be open to triggering the Australian Domestic Gas Security Mechanism if domestic gas prices remain well above those in Asia. Manufacturers in the eastern states are currently paying more than $10 a gigajoule for gas, and Australian Competition & Consumer chairman Rod Sims has warned that many will be forced to close if gas prices do not fall.

CORPORATES
MANUFACTURING AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, INCITEC PIVOT LIMITED – ASX IPL, QENOS PTY LTD, EXXONMOBIL CORPORATION, AUSTRALIAN PAPER LIMITED, DOW CHEMICAL AUSTRALIA LIMITED, CLAYPAVE PTY LTD, REMAPAK PTY LTD