GOVERNMENT SPENDING POLICY – AUSTRALIA

Cancer doctors: Labor plan won’t cure system

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Original article by Rosie Lewis, Sean Parnell
The Australian – Page: 1 & 7 : 9-Apr-19

Reaction to Labor’s $2.3 billion cancer treatment plan has been somewhat mixed. Its announcement has been welcomed by the Royal Australian & New Zealand College of Radiologists and the Australian Diagnostic Imaging Association. However, Ben Brady of the Private Cancer Physicians of Australia says his organisation rejects compulsory bulk-billing. Brady, who is also the director of haematology and medical oncology at Cabrini Health in Melbourne, adds that it is somewhat "un-Australian" to focus on just one disease.

CORPORATES
AUSTRALIAN LABOR PARTY, THE ROYAL AUSTRALIAN AND NEW ZEALAND COLLEGE OF RADIOLOGISTS, AUSTRALIAN DIAGNOSTIC IMAGING ASSOCIATION, PRIVATE CANCER PHYSICIANS OF AUSTRALIA, AUSTRALIA. DEPT OF HEALTH, CABRINI HEALTH

Per capita health spend is falling, says academic

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 5-Apr-19

Analysis of the April 2019 Budget papers by the Centre for the Health Economy shows that the federal government’s per capita spending on healthcare will rise by just 1.5 per cent in 2019-20. This compares with growth of 6.7 per cent in 2016-17. Per capita spending will grow by just 0.4 per cent between 2019-20 and 2022-23 when population growth is taken into account. Centre for the Health Economy director Henry Cutler adds that ending the freeze on Medicare rebates may not result in lower co-payments for visiting a GP.

CORPORATES
MACQUARIE UNIVERSITY. CENTRE FOR THE HEALTH ECONOMY, AUSTRALIA. DEPT OF HEALTH

Fifield demands more efficiency from Aunty

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Original article by Lilly Vitorovich
The Australian – Page: 5 : 5-Apr-19

The ABC was given a modest funding increase in the April 2019 Budget, to allow the public broadcaster to increase its newsgathering capacity in regional and rural areas. Acting MD David Anderson has welcomed the increased funding for the Enhanced News initiative, but he has criticised the decision to retain a freeze on overall funding for the next three years. He says this will require some difficult decisions regarding staffing and services, but Communications Minister Mitch Fifield argues that the ABC has greater funding certainty than any other Australian media organisation.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, COMMUNITY AND PUBLIC SECTOR UNION, AUSTRALIAN LABOR PARTY

To surplus with love

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Original article by Simon Benson
The Australian – Page: 1 & 5 : 3-Apr-19

The federal government’s April 2019 Budget has forecast a surplus of $7.1bn in 2019-20, and accumulated surpluses of $45bn over the four-year forward estimates period. The government also expects net debt to be reduced to zero by 2029-30. Highlights of the Budget include tax relief for individuals, dual-income families and small businesses, an additional $100bn worth of funding for infrastructure projects and $525m to create 80,000 apprenticeships in sectors that are experiencing skills shortages.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE

Coalition to ram through budget tax cuts ahead of poll

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Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 1 & 6 : 2-Apr-19

Labor has indicated that it will not oppose tax cuts in the April 2019 Budget if they largely benefit people on low and middle incomes. Changes to the Low Income Tax Offset are expected to be among the tax reforms to be outlined in the Budget. The tax cuts and one-off cash payments to offset rising energy costs are likely to be put to parliament on 3 April, with a view to making it harder for Labor to repeal them if it wins the election. Opposition Leader Bill Shorten contends that Labor’s tax cuts package will be of more benefit to 10 million working Australians than the Coalition’s policy.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Coalition defuses debt bomb

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Original article by Simon Benson
The Australian – Page: 1 & 2 : 2-Apr-19

Prime Minister Scott Morrison has rejected suggestions that the April 2019 Budget will be a ‘cash splash’ ahead of the federal election, stressing the government’s track record for fiscal discipline. Meanwhile, the Budget papers are forecast to show that Australia’s net debt will be reduced to zero by 2028-29 under the Coalition, compared with $370bn at present. The Budget is expected to remain in deficit for 2018-19, although it is likely to be lower than the $5.2bn that was forecast in the mid-year update. The government is tipped to bring forward the second and third stages of its tax cuts package.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN LABOR PARTY, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION

Coalition’s $1bn drive to get regions moving

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Original article by Joe Kelly
The Australian – Page: 1 & 4 : 1-Apr-19

The federal government’s April 2019 Budget will include an additional $1bn for the Roads of Strategic Importance program. The extra funding will be used to upgrade regional and interstate road infrastructure. The Budget will also include one-off payments to assist people such as pensioners, veterans and the disabled with the rising cost of energy. Treasurer Josh Frydenberg says the Budget will focus on responsible and targeted spending, while shadow treasurer Chris Bowen says it will be a "highly political" document that will in reality be an election campaign launch for the Coalition.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, SHOOTERS, FISHERS AND FARMERS PARTY

$20bn resources boost to budget

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 29-Mar-19

The federal government’s April 2019 Budget bottom line is expected to be boosted by a sharp rise in earnings from resource and energy exports. The value of such exports is forecast to have grown by about $20bn since the December quarter, due to a rise the prices of key commodities. Meanwhile, the Budget is set to include $2.2m worth of additional funding for road safety programs over the next four years, with about half of this to be allocated to regional projects. The government will also establish an Office of Road ­Safety.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, VICTORIA. DEPT OF PREMIER AND CABINET

PM’s war chest to reach $70bn

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Original article by Simon Benson, David Uren
The Australian – Page: 1 & 4 : 28-Mar-19

The Commonwealth Bank of Australia estimates that the federal government could post a combined surplus of about $60bn between 2019-20 and 2021-22. CBA adds that the government could have up to $70bn at its disposal for spending initiatives during the upcoming election campaign, including scope for up to $6bn in additional tax cuts. Meanwhile, economists at National Australia Bank have flagged the possibility that the Budget will be returned to surplus in 2018-19, which is a year earlier than the government has forecast.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, DELOITTE ACCESS ECONOMICS PTY LTD

PM’s energy free-for-all bid criticised

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Original article by Ben Potter
The Australian Financial Review – Page: 5 : 28-Feb-19

The federal government has announced $3.5bn worth of funding for initiatives in the energy sector in recent days. Prime Minister Scott Morrison announced on 27 February that the government will underwrite three Tasmanian pumped hydro projects in 2021 if feasibility studies conclude that they are economically viable. However, several energy industry executives have criticised the government, accusing it of political ‘pork barrelling’ ahead of the election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SNOWY HYDRO LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, AUSTRALIAN LABOR PARTY