Labor to support Indonesia, Peru and Hong Kong free trade deals

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 17-Oct-19

Labor’s caucus will shortly decide whether to support the federal government’s proposed free trade agreements with Indonesia, Hong Kong and Peru. Sources have indicated that Labor is unlikely to oppose the legislation, although it may seek a number of amendments. The ACTU will lobby Labor MPs to oppose the bill, due to concerns about issues such as the trade deals’ investor-state dispute settlement clauses and labour market testing provisions.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Coalition win as ALP backs big stick laws on energy

Original article by Rosie Lewis
The Australian – Page: 4 : 16-Oct-19

Labor has agreed to support the federal government’s bill to force energy companies to divest assets if they fail to reduce electricity prices. However, Opposition Leader Anthony Albanese says the policy shift is not a backdown, as the proposed legislation has been changed significantly since it was rejected by the previous parliament. The government has agreed to some concessions sought by Labor in return for supporting the bill.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA

Labor climate policy put fear of God in people and alienated blue-collar base

Original article by Greg Brown
The Australian – Page: 7 : 15-Oct-19

Cathy O’Toole lost the Queensland seat of Herbert at the 18 May federal election; it was the only seat in central and north Queensland that Labor lost in a dismal performance in the state. O’Toole says Labor must rethink its climate change policy in the wake of the election loss, arguing that the policy had alienated Labor’s traditional blue-collar voter base. She has ruled out contesting the seat at the next election.

CORPORATES
AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, AUSTRALIAN GREENS

I lost workers’ trust, admits Shorten

Original article by Rosie Lewis
The Australian – Page: 1 & 4 : 7-Oct-19

Former Labor leader Bill Shorten has accepted responsibility for the party’s 18 May federal election loss. He has conceded that Labor’s proposal to abolish cash refunds for excess franking credits caused much anxiety among some electors, while there was a widespread perception that Labor’s election policies were not focused on creating jobs. Shorten intends to remain in politics, although he has ruled out becoming Labor leader again. Labor will shortly complete a review of its election campaign.

CORPORATES
AUSTRALIAN LABOR PARTY

Labor’s election policies destined for the scrap heap

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 10-Sep-19

Labor leader Anthony Albanese has backed calls by Labor front bencher Mark Butler for a rigorous review of the policies that it took to the last election. Butler said on 9 September that the review should be "ruthless and unsparing", and that nothing should be considered sacrosanct. Although Labor’s review of its election defeat is not due to be finished until later in 2019, there are growing signs that it intends to abandon the ‘tax and spend’ agenda that it took to the election. Albanese says its new agenda would be based around job creation and economic growth.

CORPORATES
AUSTRALIAN LABOR PARTY

Electric car transition unstoppable: Labor

Original article by Richard Ferguson
The Australian – Page: 2 : 28-Aug-19

The federal government will contribute $15m to the cost of building 48 electric vehicle charging stations in the eastern states. Meanwhile, shadow energy minister Mark Butler has doubled down on his recent comments regarding Labor’s election policy on electric vehicles, stating that the transition to electric cars is "unstoppable". Butler has maintained that Labor’s target for electric vehicles to account for 50 per cent of new car sales by 2030 was ambitious but "very sensible".

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY, ABMARC

Economic socialism cost Labor

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 28-Aug-19

Labor has come under intense scrutiny following its federal election loss on 18 May. Finance Minister Mathias Cormann has attributed the election defeat to Labor’s adoption of socialist economics, which prompted voters to overlook the Coalition’s own shortcomings. Cormann has also used a Sydney Institute speech to argue that Labor won the 2007 election because Kevin Rudd persuaded voters that he was an economic conservative in the same mould as John Howard, but Labor subsequently re-embraced the socialist left under treasurer Wayne Swan.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, SYDNEY INSTITUTE

Climate failures cost us: ALP poll review

Original article by Troy Bramston
The Australian – Page: 1 & 4 : 21-Aug-19

A submission to Labor’s review of its 2019 federal election campaign has contended that lack of sufficient detail of the party’s climate change policy contributed to its surprise defeat on 18 May. The Labor Environment ­Action Network’s submission notes that the Opposition’s climate change action plan did not outline how much it would cost, how it would be funded or what economic benefits it would have. LEAN members also argue that Labor’s franking credits policy and its stance on Adani’s Carmichael coal mine also contributed to its election loss.

CORPORATES
AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD

Negative gearing a $1.5bn turn-off

Original article by Olivia Caisley
The Australian – Page: 4 : 1-Aug-19

Research undertaken by Deloitte Access Economics on behalf of the Property Council of Australia suggests that Labor’s proposed negative gearing reforms would have slashed the nation’s GDP by about $1.5bn. It is also estimated that the policy would have resulted in the loss of 7,800 construction industry jobs and cost the sector around $766m. A separate survey of voters in 16 marginal electorates has found that 34 per cent indicated that Labor’s negative gearing and capital gains tax reforms were a key reason why they did not vote for the party at the 18 May election.

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY

Calls to further limit cash payments

Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 31-Jul-19

Business owners who accept large cash payments would face a fine of $25,000 and jail terms of up to two years as part of the federal government’s crackdown on the cash economy. Cash payments will be restricted to $10,000 under the reforms announced in the 2018 Budget. However, KPMG tax partner Grant Wardell-Johnson says the government should consider lowering the threshold over time, suggesting that a limit of $5,000 or even just $2,000 may be appropriate. Tony Greco of the Institute of Public Accountants agrees that reducing the threshold may be justified.

CORPORATES
KPMG AUDIT PLC, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, RESERVE BANK OF AUSTRALIA