POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Coalition faces hostile Senate if it wins

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 2-May-19

A re-elected Coalition government could require the support of the Greens to pass legislation in the Senate, depending on the number of crossbenchers in the upper house from 1 July. Its income tax cuts in particular would be in doubt, given the Greens’ opposition to the package. The government proposes to reconvene parliament before 30 June to capitalise on a crossbench that is likely to be more favourable to its tax cuts than the new Senate. Greens leader Richard Di Natale favours tax increases rather than tax cuts.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, THE AUSTRALIA INSTITUTE LIMITED

Price carbon cuts? Yes you can

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Original article by Simon Benson
The Australian Financial Review – Page: 1 & 4 : 2-May-19

Independent modelling has concluded that GDP growth could be reduced by a cumulative $264bn by 2030 if Labor’s carbon emissions reduction policy includes unlimited access to international carbon credits. This could rise to around $1.2bn if the use of foreign carbon credits is restricted or banned. The modelling is outlined in a new report by former bureaucrat Brian Fisher, which will be released on 2 May. Labor’s climate change spokesman Mark Butler has previously argued that its emissions reduction policy cannot be costed.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN BUREAU OF AGRICULTURAL AND RESOURCE ECONOMICS AND SCIENCES, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, AUSTRALIAN GREENS

Aged care next for a pay rise from taxpayers

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Original article by Ewin Hannan
The Australian – Page: 4 : 1-May-19

Opposition Leader Bill Shorten says Labor has no plans to extend its taxpayer-funded pay rise for childcare workers to other low-paid sectors. He says the policy takes into account the "unique" status of childcare workers. However, Council on the Ageing CEO Ian Yates says increasing the wages of aged-care staff should also be a priority for Labor if it wins the election, noting that they are also underpaid and undertrained. Shorten has signalled that Labor could look at wage increases for these workers after the aged-care royal commission delivers its final report in April 2020.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL ON THE AGEING, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. ROYAL COMMISSION INTO AGED CARE QUALITY AND SAFETY

State revenues under threat: PM

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Original article by Primrose Riordan, Ben Packham, Ben Wilmot
The Australian – Page: 6 : 1-May-19

Prime Minister Scott Morrison says Labor’s proposed changes to the negative gearing and capital gains tax regimes could result in lower GST and stamp duty revenue for state governments. He added that the states should seek a guarantee from Labor that its reforms would not affect their revenue. Shadow treasurer Chris Bowen in turn has blamed the Coalition for the housing market downturn, which has reduced state governments’ stamp duty revenue.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA, STOCKLAND – ASX SGP, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, HOUSING INDUSTRY ASSOCIATION LIMITED, MASTER BUILDERS AUSTRALIA INCORPORATED

Greens stir Gillard ghosts

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

Australian Greens leader Richard Di Natale will use a National Press Club speech on 1 May to urge Labor to form a coalition with the minor party to address the issue of climate change. Former prime minister Julia Gillard struck a similar alliance with the Greens to form a minority government after the 2010 election. The Greens have questioned Labor’s proposal to use international carbon credits as part of its target of reducing carbon emissions by 45 per cent on 2005 levels by 2030.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED AUSTRALIA PARTY, NATIONAL PARTY OF AUSTRALIA, ONE NATION PARTY, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, NATIONAL PRESS CLUB (AUSTRALIA)

Climate policy impossible to cost: ALP

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 1-May-19

Labor’s climate change spokesman Mark Butler says it cannot estimate how much its carbon emissions reduction policy will cost the business sector. He argues that this is because Labor will not impose a direct carbon price on businesses. However, the Coalition claims that Labor’s policy would cost businesses between $27.5bn and $35bn. A senior industry economist argues that the lack of detail regarding Labor’s policy means that no accurate estimate of its cost can be made prior to the election.

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

Labor’s penalty rates a triple hit for retailers

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 29-Apr-19

Labor will seek to reverse cuts to Sunday penalty rates within 100 days if it wins the federal election. The Australian Retailers Association has estimated that this would see wages rise by as much as 21 per cent for weekend workers. Cuts to Sunday and public holiday penalty rates are being phased in over four years by the Fair Work Commission to ease the impact on employees, but shadow Employment Minister Brendan O’Connor says it will reverse the cuts "in a single hit". Employers’ groups have called for greater consultation over Labor’s plans, while employment law professor Andrew Stewart has cautioned Labor about trying to rush legislation on the issue.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIA. FAIR WORK COMMISSION, UNIVERSITY OF ADELAIDE, THE AUSTRALIAN INDUSTRY GROUP

Top end of town pays $57bn tax

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Original article by Michael Roddan
The Australian – Page: 4 : 24-Apr-19

Data from the Australian Taxation Office shows that nearly 430,000 people had taxable income of at least $180,000 in fiscal 2017, an increase of 26 per cent since fiscal 2013. The total net tax they paid increased from $43 billion to $57bn. There was also a 17 per cent increase in the number of people with taxable income of $37,000 to $80,000, with their share of the total tax take rising from $47bn to $62bn. Tax cuts have been a key focus of the election campaign, but economics professor Richard Holden says a simpler option is to peg the tax system to wage inflation.

CORPORATES
AUSTRALIAN TAXATION OFFICE, UNIVERSITY OF NEW SOUTH WALES, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

ALP vow: permanent work for casuals

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 24-Apr-19

Labor has doubled down on the Coalition’s commitment to legislate to allow casual workers to apply to become permanent employees after 12 months of regular and ongoing work with the same employer. Labor will also amend the Fair Work Act to allow such workers to legally challenge a refusal of their request to become a permanent employee. More than 50 per cent of Australia’s 2.6 million casual employees have worked for the same employer for at least 12 months.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. FAIR WORK COMMISSION

Morrison fund woos small enterprises

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Original article by Michael Roddan
The Australian – Page: 17 : 23-Apr-19

Treasurer Josh Frydenberg will launch a $100 million government-backed fund that will provide equity funding to small businesses. The Australian Business Growth Fund is based on similar initiatives in the UK and Canada. Prime Minister Scott Morrison has pledged to create 250,000 new small businesses over the next five years, with 230,000 small businesses having been launched over the last five years. National Australia Bank is in charge of efforts to launch the Australian Business Growth Fund.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, HSBC AUSTRALIA HOLDINGS PTY LTD