GOVERNMENT SPENDING POLICY – AUSTRALIA

Turnbull rejects ‘slash and burn’ approach to spending

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Original article by David Uren
The Australian – Page: 2 : 26-Nov-15

The Australian Government does not intend to include deep cuts in spending in its December 2015 Budget update. Prime Minister Malcolm Turnbull said on 25 November that spending cuts must not compromise economic growth. Westpac chief economist Bill Evans does not believe that Australia’s "AAA" credit rating is under threat.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Hockey reveals $3b budget swansong

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 18-Sep-15

The Australian Government will release the final Budget figures for 2014-15 on 21 September 2015, but Treasury Joe Hockey has revealed that government spending for the fiscal year was around $A3bn lower than expected. Hockey has also told Parliament that net government debt for 2014-15 was $11.5 billion below expectations at $A238bn. The Government is set to post a Budget deficit for 2014-15 of about $A38bn. Hockey is expected to be replaced as Treasurer following the leadership change.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF SOCIAL SERVICES

51pc top tax rate ‘is fairer’ than GST rise

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 21-Aug-15

State and federal treasurers will discuss fiscal issues at a meeting in Canberra on 21 August 2015. The Victorian Government will propose at the meeting to raise extra funds for public health through an increase in the Medicare levy by two percentage points. The federal Government wants to raise the goods and services tax (GST) rate by five per cent and reduce personal and corporate taxes at the same time. New South Wales and South Australia favour raising the GST rate from 10 per cent to 15 per cent and use the extra revenue on public health.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, VICTORIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA

Fight builds over $3b GST compo

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 22-Jul-15

The New South Wales Government has proposed lifting the GST rate to 15 per cent, with the extra revenue to be used to finance public health services. Its modelling suggests that annual GST revenue would increase by $A36bn by 2020 with the higher tax rate. Meanwhile, the cost of public health funding is expected to top $A20bn by 2020. When the need to compensate households for the increased GST is taken into account, it is estimated that a further $A2bn to $A3bn in health funding would be needed in addition to the extra GST revenue.

CORPORATES
NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, QUEENSLAND. TREASURY, LIBERAL PARTY OF SOUTH AUSTRALIA, AUSTRALIAN LABOR PARTY

Legal aid cuts risk injustices: UK judge

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Original article by Katie Walsh
The Australian Financial Review – Page: 33 : 19-Jun-15

Justice Nicholas Mostyn of the High Court of England & Wales has expressed concern about reduced government funding for legal aid in Australia and the UK. He says the funding cuts will threaten both the rule of law and the principle of equality before the law. Meanwhile, the Productivity Commission has urged governments at state and federal level to boost legal aid funding by $A200m.

CORPORATES
HIGH COURT OF ENGLAND AND WALES, AUSTRALIA. PRODUCTIVITY COMMISSION, LAW COUNCIL OF AUSTRALIA, NATIONAL PRO BONO RESOURCE CENTRE, THE LAW SOCIETY OF NEW SOUTH WALES, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, FAMILY COURT OF AUSTRALIA, PRICEWATERHOUSECOOPERS, NATIONAL LEGAL AID

Paid parental leave fight gears up

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Original article by Joanna Mather, Lucille Keen
The Australian Financial Review – Page: 5 : 22-May-15

Women on Boards chair Ruth Medd is among the individuals and organisations that have lobbied Prime Minister Tony Abbott to abandon proposed changes to the taxpayer-funded paid parental leave scheme. They have urged Abbott to reconsider the reforms, and argue that the Australian Government should aim to increase paid leave from 18 weeks to 26 weeks. Meanwhile, Chief Executive Women president Diane Smith Gander says the Government could seek a compromise on the reforms.

CORPORATES
WOMEN ON BOARDS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CHIEF EXECUTIVE WOMEN, WORLD HEALTH ORGANIZATION, NATIONAL FOUNDATION FOR AUSTRALIAN WOMEN LIMITED, UNIVERSITY OF NEWCASTLE, MERCER INVESTMENTS PTY LTD

Hockey to tax global giants

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-May-15

The Australian Government’s May 2015 Budget will feature spending initiatives that will cost up to $A10bn. It includes $A3.5bn for childcare and an additional $A450m for national security. Meanwhile, the Government has announced that downloading digital content from offshore providers will attract the GST, while it will crack down on international corporations that avoid their tax liabilities by shifting profits overseas. However, it has ruled out a so-called "Google Tax".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GOOGLE INCORPORATED, NETFLIX INCORPORATED, AUSTRALIAN LABOR PARTY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIAN TAXATION OFFICE, THE TAX INSTITUTE, ARNOLD BLOCH LEIBLER, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Telcos to get metadata storage cash

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Original article by John Kerin
The Australian Financial Review – Page: 5 : 12-May-15

The Australian Government’s May 2015 Budget will include additional $A450m in funding for national security initiatives. Some $A131m will be allocated to telcos and ISPs to offset the cost of upgrading their systems in order to retain metadata for up to two years under the Government’s data retention laws. Intelligence agencies will receive a $A296m funding increase.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PM’s $500m payoff to SA, Vic industry

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Original article by Phillip Coorey, Simon Evans
The Australian Financial Review – Page: 1 & 4 : 11-Mar-15

The Australian Government will retain a $A500m industry assistance scheme for the local car industry, despite its impact on the Budget bottom line. It wants to ensure that automotive component makers remain financially viable until the local car manufacturing ends. GM Holden has indicated that the Government’s support for the scheme will increase the likelihood that the car maker will keep its plants open until the scheduled shutdown, while Toyota says it definitely will not close its plant before the end of 2017

CORPORATES
GM HOLDEN LIMITED, GENERAL MOTORS CORPORATION, TOYOTA MOTOR CORPORATION AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, FORD MOTOR COMPANY AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, LIBERAL DEMOCRATIC PARTY, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN MANUFACTURING WORKERS’ UNION, THE CENTRE FOR INDEPENDENT STUDIES LIMITED

Commonwealth legal services spending rises

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Original article by Nicola Berkovic
The Australian – Page: 23 : 16-Jan-15

New figures show that the Australian Government’s expenditure on legal services increased by around $A6m in 2013-14, to $A688.6m. There was a $A10m blowout in the cost of the Government’s in-house legal teams during the financial year, although there was a slight decline in the amount paid to private law firms. Clayton Utz accounted for about 11 per cent of the government legal work that was outsourced to private firms

CORPORATES
CLAYTON UTZ, ASHURST AUSTRALIA, DLA PIPER, MINTER ELLISON, SPARKE HELMORE, NORTON ROSE FULBRIGHT AUSTRALIA, CORRS CHAMBERS WESTGARTH, MADDOCKS LAWYERS, KING AND WOOD MALLESONS, AUSTRALIAN GOVERNMENT SOLICITOR, AUSTRALIA. ATTORNEY-GENERAL’S DEPT