POLITICAL PARTIES – AUSTRALIA – PLATFORMS

We can withstand a downturn: Frydenberg

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 8-May-19

Treasurer Josh Frydenberg is confident that the Australian economy would be resilient in the event of a significant downturn in the global economy. Frydenberg notes amongst other things that the tax cuts in the April 2019 Budget will boost consumer spending and economic activity, and he believes that the Coalition’s policy settings are sufficient without having to pursue stimulatory measures such as bringing forward the full tax cuts package. Frydenberg also dismisses suggestions that legislating the tax cuts is the Coalition’s only real policy agenda.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, CENTRE ALLIANCE, NATIONAL PARTY OF AUSTRALIA, ADANI MINING PTY LTD

No guarantee for PM’s $158b income tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 8-May-19

The support of Senate crossbenchers may be crucial for the government to pass its signature tax cuts package if it wins the federal election. Centre Alliance has committed to supporting the first two stages of the tax cuts, although Senator Griff Stirling has indicated that the party may be open to backing the third stage. Senate aspirant Clive Palmer says his party’s support for the tax cuts is subject to several conditions. The government may have to split the tax bill to secure its passage through the upper house, given that Labor supports only the stage one tax cuts.

CORPORATES
CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Childcare pay rise a carrot for union

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Original article by Rick Morton
The Australian – Page: 4 : 7-May-19

Shadow treasurer Chris Bowen has defended Labor’s proposal to provide early childhood educators with a taxpayer-funded pay rise, saying the policy has been costed by the Parliamentary Budget Office. Treasury Josh Frydenberg in turn has argued that the policy has been costed on giving a pay rise to 100,000 child care workers, whereas the sector employs 195,000 people. He has claimed that the policy is merely aimed at increasing union membership.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Labor weighs boosting union powers

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 8 : 7-May-19

Shadow workplace relations minister Brendan O’Connor has indicated that unions’ right to entry laws could be relaxed if Labor wins the federal election. The reforms could include recommendations made in the Boland review of workplace safety laws; amongst other things, the review proposed waiving the need for a union official to have a workplace entry permit if the visit is related to industrial safety. This would benefit the Construction, Forestry, Maritime, Mining & Energy Union; some of its officials have been denied entry permits under the Fair Work Act’s ‘fit and proper person’ test.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, HERBERT SMITH FREEHILLS PTY LTD, MASTER BUILDERS AUSTRALIA INCORPORATED, SAFE WORK AUSTRALIA

Morrison and Shorten, take note: Trump shows what enterprising tax settings can do for jobs

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Original article by Robert Gottliebsen
The Australian – Page: 33 : 7-May-19

Between 2019 and 2025, the cumulative tax bill of people earning more than $200,000 a year will be more than $33,000 higher under Labor than the Coalition, according to a tax calculator on Self-Employed Australia’s website. Low-income earners who receive $15,000 worth of franking credits each year would also be worse off under Labor. The tax policies of Australia’s major political parties are in contrast to the personal and company tax cuts of US President Donald Trump. Some 263,000 jobs were created in the US in April and the unemployment rate fell to its lowest level since December 1969, while there has been average hourly earnings growth of 3.2 per cent over the last year.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, SELF-EMPLOYED AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

No end to Labor’s $60 billion spendathon

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 6 : 7-May-19

Labor has made spending commitments in excess of $60 billion during the federal election campaign, according to a newspaper analysis of its spending announcements. Labor’s spending promises include $22 billion for infrastructure projects and community facilities, and $16.2 billion for climate change and energy. Treasurer Josh Frydenberg told the treasurers’ debate on 6 May that taxpayers would be the ones paying for Labor’s higher spending, while Labor will need to convince the Senate to pass the tax measures that it will need to implement in order to pay for its spending.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Senators reject ALP tax grab

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Original article by Simon Benson, Michael McKenna, Joe Kelly
The Australian – Page: 1 & 4 : 7-May-19

Key upper house crossbenchers have rejected claims by shadow treasurer Chris Bowen that Labor will have a mandate for tax reform if it wins the federal election. Centre Alliance senator Stirling Griff contends that Labor will only have a mandate if it gains a majority in the Senate. Griff opposes Labor’s proposal to abolish cash refunds for excess dividend imputation credits, although he says Centre Alliance may be willing to negotiate regarding changes to the negative gearing regime. One Nation leader Pauline Hanson also opposes the franking credit reforms.

CORPORATES
AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, ONE NATION PARTY, UNITED AUSTRALIA PARTY, AUSTRALIAN GREENS, AUSTRALIAN CONSERVATIVES

‘Choose hope over fear’: Bill Shorten’s call to arms wows Labor faithful

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Original article by Sarah Murphy
http://www.theguardian.com – Page: Online : 6-May-19

Opposition leader Bill Shorten says "trickle down" economics has not worked for the average working Australian during the term of the current government. Shorten was speaking at Labor’s official campaign launch in Brisbane on 5 May, during which he outlined policies covering areas such as health and education, boosting employment for younger and older workers, and increasing wages for childcare workers. Shorten said a vote for Labor was a vote for "hope over fear", while he referred to Prime Minister Scott Morrison as "a failed ad guy".

CORPORATES
AUSTRALIAN LABOR PARTY

Morrison defends his climate policy as cost free

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Original article by Simon Evans, Phillip Coorey
The Australian Financial Review – Page: 5 : 3-May-19

Prime Minister Scott Morrison says the Coalition can achieve its carbon emissions reduction target without hurting the economy. Morrison contends that this is because the cost of doing so will be borne by taxpayers. His claims are at odds with modelling undertaken by economist Brian Fisher, who says the Coalition’s climate policy will impose some cost on the economy, although not as much as Labor’s policy. Labor’s climate spokesman Mark Butler claims that Fisher’s assumptions are grossly flawed.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CITIGROUP PTY LTD, SANTOS LIMITED – ASX STO, AUSTRALIAN NATIONAL UNIVERSITY

Unions to face wait for pay reforms

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Original article by Ewin Hannan
The Australian – Page: 4 : 3-May-19

Shadow workplace relations minister Brendan O’Connor has indicated that Labor will consult all stakeholders regarding its plan to reinstate industry-wide enterprise bargaining. Senior Labor sources have suggested that the extensive consultation that will be required means the reforms are likely to be delayed for at least a year if Labor wins the federal election. Law professor Andrew Stewart says Labor is wise to delay such reforms given the large number of items on its policy agenda. Labor intends to prioritise reforms such as restoring penalty rates.

CORPORATES
AUSTRALIAN LABOR PARTY, UNIVERSITY OF ADELAIDE, AUSTRALIA. FAIR WORK COMMISSION