BUSINESS AND POLITICS – AUSTRALIA

Gas cost killing industry, Dow says

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Original article by Perry Williams
The Australian – Page: 17 & 28 : 14-Aug-18

Dow Chemical’s Australian head Louis Vega has urged support for the National Energy Guarantee, while calling on states and territories to allow new gas developments. He hopes both initiatives will put downward pressure on gas prices, warning that some heavy industries may have to shut down if gas prices remain high. Tomago Aluminium, which is the biggest user of energy in Australia, says the life of the nation’s coal-fired power plants need to be extended to help maintain the stability of the national grid.

CORPORATES
DOW CHEMICAL AUSTRALIA LIMITED, TOMAGO ALUMINIUM COMPANY PTY LTD, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

MP’s support for coal spot on

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Original article by Greg Brown
The Australian – Page: 6 : 8-Aug-18

Whitehaven Coal CEO Paul Flynn has welcomed comments made by Labor MP Meryl Swanson in support of coal-fired power generation using low-emissions technology. Swanson recently toured high energy, low emissions power stations in Japan as part of a bipartisan delegation. Flynn says Australia should consider the construction of such power stations, noting that Japan accounts for about 60 per cent of Whitehaven’s thermal coal exports. However, Labor’s energy spokesman Mark Butler says HELE power stations are expensive to build and they produce more carbon emissions that gas-fired power stations.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COAL21, MINERALS COUNCIL OF AUSTRALIA

Business split over carbon offsets

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Original article by Mark Ludlow
The Australian Financial Review – Page: 3 : 20-Jul-18

Energy Minister Josh Frydenberg is yet to decide whether international carbon offsets should be used as part of the National Energy Guarantee. Those opposing the idea include Labor and large energy users, while the Business Council of Australia is in favour of their use. Dow Chemical noted in its submission on the NEG that Europe’s experience in this area indicates that there is potential for abuse when international carbon offsets are utilised.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, DOW CHEMICAL AUSTRALIA LIMITED, CLEAN ENERGY COUNCIL LIMITED, GREENPEACE AUSTRALIA PACIFIC LIMITED, MINERALS COUNCIL OF AUSTRALIA, REPUTEX AUSTRALIA PACIFIC PTY LTD

NEG too costly, say big energy users

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Original article by Perry Williams, Joe Kelly, Ben Packham
The Australian – Page: 1 & 6 : 18-Jul-18

The ACTU has expressed concern that the federal government’s proposed national energy guarantee will result in higher electricity prices and ensure that large electricity retailers retain their market power. The ACTU has also questioned whether the NEG will have much impact on carbon emissions. Major industrial users of electricity have also warned that the NEG is unlikely to result in lower electricity prices.

CORPORATES
ACTU, DOW CHEMICAL AUSTRALIA LIMITED, BRICKWORKS LIMITED – ASX BKW, RUSAL AUSTRALIA PTY LTD, RIO TINTO LIMITED – ASX RIO, QUEENSLAND ALUMINA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA

Shorten’s secret vow on health cap

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Original article by Joe Kelly
The Australian – Page: 1 & 6 : 16-Jul-18

Labor has previously announced plans to impose a two per cent cap on health insurance premium increases. However, Opposition leader Bill Shorten is understood to have told the Members Health Fund Alliance – which represents 23 small funds that cover 1.7 million Australians – that its members would not be affected by the proposed cap. Labor sources have indicated that the cap is aimed more at larger health insurance providers, and that imposing it on smaller providers would lead to more consolidation in the sector.

CORPORATES
AUSTRALIAN LABOR PARTY, MEMBERS HEALTH FUNDS ALLIANCE, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. PRODUCTIVITY COMMISSION, PRIVATE HEALTHCARE AUSTRALIA LIMITED

Call for tougher penalties to stop trade secret theft

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Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 5-Jul-18

The federal government’s new espionage and foreign interference impose criminal penalties for theft of trade secrets on behalf of foreign interests. However, Australian Industry Group CEO Innes Willox argues that more legislative action is needed to protect against the domestic theft of commercial trade secrets. Clayton Utz partner John Collins notes that Australia has traditionally treated the theft of trade secrets as a commercial issue that attracts civil remedies, although he says there is potential for criminal penalties to be introduced in the future.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, CLAYTON UTZ, LAW COUNCIL OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, BOEING COMPANY

Braddon business writes off Shorten’s write-off

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Original article by Matthew Denholm
The Australian – Page: 5 : 5-Jul-18

Opposition Leader Bill Shorten is campaigning in the seat of Braddon in Tasmania ahead of the by-election on 28 July. Local business owner Shane Smith says the Coalition’s company tax cuts package would be of more benefit to businesses in Braddon than Shorten’s alternative of a tax deduction on capital investments of at least $20,000. Smith argues that many businesses in the electorate would not qualify as they lack the capital to make such a large investment.

CORPORATES
AUSTRALIAN LABOR PARTY, PENSTOCK DISTRIBUTORS, DEVONPORT CHAMBER OF COMMERCE AND INDUSTRY, LIBERAL PARTY OF AUSTRALIA

Cash ban lacks hard evidence: ACCI

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Original article by Joanna Mather
The Australian Financial Review – Page: 9 : 5-Jul-18

The Australian Chamber of Commerce & Industry has questioned whether the Federal Government’s proposal to limit cash payments to $10,000 will be effective in combating the cash economy. The ACCI has warned that the ban, which was announced in the May 2018 Budget and is based on the recommendations of the black economy taskforce, could potentially undermine the integrity of the financial system. Australian Bankers’ Association CEO Anna Bligh has called for a sufficient transition period for bank customers to adapt to the proposed policy.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN BANKERS’ ASSOCIATION, AUSTRALIA. DEPT OF FINANCE, KPMG AUSTRALIA PTY LTD

Coalition told to boost Fair Work posts

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 9 : 4-Jul-18

The Australian Mines & Metals Association has warned that the Fair Work Commission is under-resourced. AMMA CEO Steve Knott says the Federal Government should appoint up to seven additional FWC members in order to address its heavy workload. He notes that the FWC currently has 39 commissioners, compared with 46 when Labor was last in office in 2013. Knott also supports the Productivity Commission’s recommendation to limit FWC members’ terms to 10 years.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS

Pressure on Shorten to fix tax split

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Original article by Simon Benson, Ben Packham
The Australian – Page: 1 & 6 : 28-Jun-18

Dissent within Labor is continuing over plans to reverse tax cuts for companies with annual turnover of between $A10m and $A50m if Labor wins the next election. Labor’s leadership group is expected to endorse the policy at a meeting on 28 June, despite some Labor MPs expressing concern that Opposition Leader Bill Shorten announced the policy without consulting the shadow cabinet or caucus. The Federal Government remains hopeful of gaining the support of Senate crossbenchers for its full company tax cuts package.

CORPORATES
AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, REACHTEL PTY LTD