INDUSTRIAL POLICY – AUSTRALIA

BHP warns on made in Australia

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 31-Jul-24

The federal government aims to pass its Future Made in Australia bill when parliament resumes in August. However, BHP has used its submission to a Senate inquiry to warn of the risks associated with Labor’s signature Future Made in Australia policy, which amongst other things is aimed at attracting increasd investment in the nation’s critical minerals sector. BHP notes that many countries have large deposits of critical minerals, and are competing for private sector investment in this sector. BHP adds that factors such as Australia’s workplace laws, an uncompetitive tax system and proposed environmental laws could undermine the policy.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Labor’s plan to woo right investments

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 1-May-24

The federal government is set to overhaul the nation’s foreign investment rules, which will include fast-tracking applications from investors with a proven record of investing in Australia. The reforms will also result in closer scrutiny of proposed foreign investment deals that have national security implications, such as critical infrastructure and mineral resources. Treasurer Jim Chalmers will outline the proposed reforms in a Lowy Institute speech on Wednesday; he will also reveal more details of Labor’s flagship Future Made in Australia policy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

PM betraying Hawke reforms

roymorgansocial Leave a comment

Original article by Joe Kelly, Patrick Commins
The Australian – Page: 1 & 4 : 24-Apr-24

Former prime minister John Howard has criticised the federal government’s Future Made in Australia policy. Howard has likened the policy to the "new protectionism" that had been derided by former Labor prime minister Bob Hawke more than three decades ago, and describes it as a betrayal of the reforms undertaken by the Hawke and Keating governments. Prime Minister Anthony Albanese has described critics of the policy as "flat earthers", but Howard says Albanese "is a flat-earther with the best of them".

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Made in Australia ‘a bit risky’: former RBA boss

roymorgansocial Leave a comment

Original article by Michael Read
The Australian Financial Review – Page: 5 : 16-Apr-24

The federal government’s proposed Future Made in Australia Act has come under fire from former Reserve Bank of Australia governor Bernie Fraser, who contends that it represents a risk to taxpayers. Fraser says governments do not have a good track record when it comes to ‘picking winners’ in terms of identifying successful industry sectors. AMP’s chief economist Shane Oliver has described the policy as "depressing".

CORPORATES
RESERVE BANK OF AUSTRALIA, AMP LIMITED – ASX AMP

PM’s plan risks forever subsidies

roymorgansocial Leave a comment

Original article by Michael Read, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Apr-24

Productivity Commission chair Danielle Wood has warned that the federal government’s Future Made in Australia Act will have an economic cost. The government will provide incentives and subsidies to encourage local manufacturing, but Wood contends that the Act must include a mechanism for winding back this financial support in order to avoid having businesses become reliant on government subsidies. Meanwhile, Opposition leader Peter Dutton says local manufacturers are going broke or relocating offshore due to factors such as high energy costs and the government’s industrial relations regime.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA

Rare earth miners want plan backed with cash

roymorgansocial Leave a comment

Original article by Jacob Greber, Peter Ker
The Australian Financial Review – Page: 8 : 5-Mar-21

Prime Minister Scott Morrison has announced a 10-year ‘road map’ for the creation of more mineral processing operations in Australia. His plans have won backing from rare earths and critical minerals producers and from green groups such as the Climate Council and WWF-Australia, but producers have called on the government to back up its plans with actual money and support. Charlie Richardson from Accenture notes that Australia has over 90 per cent of the raw materials used to make lithium-ion batteries, but no manufacturers producing them. He says this is both a "both a missed opportunity and a sovereign risk".

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ACCENTURE AUSTRALIA LIMITED, LYNAS RARE EARTHS LIMITED – ASX LYC, HASTINGS TECHNOLOGY METALS LIMITED – ASX HAS, WORLD WIDE FUND FOR NATURE AUSTRALIA, CLIMATE COUNCIL OF AUSTRALIA LIMITED, ARAFURA RESOURCES LIMITED – ASX ARU

Manufacturing vision drives blueprint for future

roymorgansocial Leave a comment

Original article by Geoff Chambers,Simon Benson,Rosie Lewis
The Australian – Page: 1 & 4 : 28-Sep-20

Sectors such as defence, medical technology, biotechnology, agriculture and resources are expected to be the focus of the federal government’s strategy to boost Australia’s manufacturing capacity in the wake of the coronavirus pandemic. Prime Minister Scott Morrison will reveal details of the manufacturing strategy ahead of the federal Budget on 6 October. The push to increase local manufacturing is part of the government’s five-year plan to revive the economy and increase jobs.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Coalition eyes Australian economic sovereignty with boost to manufacturing

roymorgansocial Leave a comment

Original article by Paul Karp
The Guardian Australia – Page: Online : 20-May-20

Federal Industry Minister Karen Andrews will use a National Press Club speech on 20 May to call for Australia to ramp up local manufacturing in the post-coronavirus environment. She will argue that factors such as domestic manufacturing, a lower company tax rate and an increase in natural gas supply are crucial to the nation’s economic sovereignty. Andrews will also emphasis the need for projects to be approved more quickly.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Coalition lashed in car-industry states

roymorgansocial Leave a comment

Original article by Sarah Martin
The Australian – Page: 2 : 30-Jan-15

Public opinion polls show that support for the Australian Government is falling in states that will be hard hit by the end of local car manufacturing. The South Australian federal seat of Boothby is comfortably held by the Liberal Party, but Newspoll shows a 10.1 per cent swing against the Federal Government in the electorate. Likewise, there has been a 9.9 per cent swing against the Government in the Liberal-held seat of Hindmarsh

CORPORATES
NEWSPOLL, NEWS CORPORATION – ASX NWS, MILLWARD BROWN AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Shipping laws ‘take toll’ on refineries

roymorgansocial Leave a comment

Original article by Annabel Hepworth
The Australian – Page: 21 : 12-Nov-14

An Australian Maritime Safety Authority event on 12 November 2014 will be addressed by Deputy Prime Minister Warren Truss. He will argue that industries such as petroleum refining are being negatively affected by the cabotage regulations rolled out under the previous federal government’s Coastal Trading Act. Truss will claim that the added cost per vessel and per annum is $A6.5m. Refining in Australia is in decline, with just five major operations left and some four fifths of all fuel and crude already being imported

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, BHP BILLITON LIMITED – ASX BHP, EXXONMOBIL AUSTRALIA PTY LTD, SHELL COMPANY OF AUSTRALIA LIMITED, BP AUSTRALIA LIMITED, AUSTRALIAN INSTITUTE OF PETROLEUM LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. MARITIME SAFETY AUTHORITY, AUSTRALIAN LABOR PARTY