POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Shorten kills hope of deal on budget savings

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Original article by David Crowe
The Australian – Page: 1 & 5 : 18-Aug-16

The Opposition has signalled that it will not support all of the Federal Government’s proposed $A6bn worth of cost-saving measures, despite backing most of the reforms during the 2016 election campaign. A proposed $A1bn reduction in funding for the Australian Renewable Energy Agency in particular is likely to be opposed by the Australian Labor Party, which is also likely to vote down a plan to progressively reduce the corporate tax rate to 25 per cent. The Government plans to introduce a so-called "omnibus" bill containing 21 separate Budget-repair measures.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN RENEWABLE ENERGY AGENCY, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN GREENS, LIBERAL DEMOCRATIC PARTY

Coalition MPs rally against bank ‘bastardry’

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Original article by Sarah Martin, David Crowe
The Australian – Page: 1 & 4 : 16-Aug-16

There is a growing push among Federal Government MPs for action to crack down on the banking sector, which is enjoying massive profits and paying its top executives huge salaries. Liberal MP Warren Entsch favours the establishment of a tribunal to assist the victims of what he calls the "bastard acts" of banks. Entsch says this would be preferable to holding a royal commission into the sector. Fellow Liberal MP Craig Kelly has proposed the introduction of laws prohibiting banks from charging late fees on credit card payments.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, HIGH COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, FINANCE AND PUBLIC ADMINISTRATION, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN

Shorten to PM: rethink banks inquiry

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Original article by Laura Tingle
The Australian Financial Review – Page: 4 : 15-Aug-16

Opposition Leader Bill Shorten has urged Prime Minister Malcolm Turnbull to support the Australian Labor Party’s proposal for a royal commission into the nation’s banks. Shorten has argued that a series of scandals in the financial services sector has significantly affected the finances of many people and undermined the public’s trust in banks. Meanwhile, Labor’s Sam Dastyari says the Opposition may have sufficient support in the Senate for a royal commission.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN BROADCASTING CORPORATION

Gary Morgan’s comment on Roy Morgan July Business Confidence

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Aug-16

Although the result in the House of Representatives at the recent Federal Election was disappointing, the result in the Senate is probably better for Prime Minister Malcolm Turnbull’s leadership. The increase in the cross-bench at first appears challenging for the Turnbull Government; however, the fact is that most of the new Senators are right-of-centre and likely to be favourable to the Government’s broader Budget and policy agenda. Two of the most important policies the Government took to the election were significant corporate tax cuts and the re-introduction of the Australian Building and Construction Commission (ABCC) to improve workplace productivity in the Construction industry. Despite the challenges, the Government should be able to pass these important reforms which will stimulate an Australian economy still dealing with the end of the mining boom.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Unhappy crossbenchers threaten IR laws

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Original article by Primrose Riordan
The Australian Financial Review – Page: 7 : 8-Aug-16

Liberal Democrat senator David Leyonhjelm has accused the Coalition of reneging on a deal to include a sunset clause in legislation to extend a ban on the importation of the Adler A110 shotgun. He says that the Coalition may now not be able to count on his support for a bill to reinstate the Australian Building & Construction Commission. Senator Leyonhjelm also intends to introduce legislation to scrap section 18C of the Racial Discrimination Act, a reform which the Coalition had backed down on.

CORPORATES
LIBERAL DEMOCRATIC PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Hanson’s power bloc holds key in ABCC union battle

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Original article by David Crowe
The Australian – Page: 1 & 2 : 5-Aug-16

The support of One Nation in the Senate may be crucial to the Coalition’s chances of passing legislation to reinstate the Australian Building & Construction Commission. The Coalition will have 30 seats in the new Senate, while the Australian Labor Party and the Greens will have 26 and nine respectively. The Coalition will need 39 votes to pass the ABCC bill in the upper house, or 114 in a joint sitting of Parliament. One Nation senator-elect Brian Burston has indicated that he is likely to support the ABCC bill.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, NICK XENOPHON TEAM, LIBERAL DEMOCRATIC PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIA. DEPT OF EMPLOYMENT

Senate count favours ABCC bill

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Original article by David Crowe
The Australian – Page: 6 : 4-Aug-16

The Federal Government’s chances of getting its Australian Building & Construction Commission legislation passed by a joint sitting of Parliament have been bolstered after the Liberal Party’s Jane Hume won the final Senate seat in Victoria. The Government needs 114 votes in a joint sitting, and it will commence negotiations with crossbenchers to support the bill. The final two Senate seats are expected to be decided shortly.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NICK XENOPHON TEAM, ONE NATION PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, LIBERAL DEMOCRATIC PARTY, CHRISTIAN DEMOCRATIC PARTY, AUSTRALIAN ELECTORAL COMMISSION

Morrison warns super rebels on backing rich

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Original article by Phillip Coorey, Sally Patten
The Australian Financial Review – Page: 4 : 28-Jul-16

Federal Treasurer Scott Morrison says people who have already exceeded the proposed $A500,000 lifetime cap on non-concessional superannuation contributions stand to benefit the most if the reform is scrapped. Morrison has also warned that unless the Government’s super reforms proceed and spending is reduced, the nation will face higher taxes, a bigger Budget deficit and a blowout in public debt. The Government may agree to exempt certain "life events" from the lifetime cap.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Draft super laws to be released before parliament sits

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Original article by David Crowe
The Australian – Page: 1 & 5 : 22-Jul-16

The Australian Government will release draft legislation for its proposed superannuation reforms prior to the resumption of Parliament on 30 August 2016. It will also consult with industry experts before the legislation is presented to the Coaltion’s party-room. The draft legislation is expected to largely reflect the super policies outlined in the May 2016 Budget. Treasurer Scott Morrison will resist efforts to drop measures such as the life-time cap on non-concessional contributions, but some crossbenchers argue that the policies that were taken to the federal election should be put before Parliament.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF FINANCE, INSTITUTE OF PUBLIC AFFAIRS LIMITED

Labor to reject mandate on IR

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Original article by Joe Kelly
The Australian – Page: 4 : 21-Jul-16

The Australian Government continues to be criticised over its failure to respond to the Productivity Commission’s review of industrial relations laws. The Opposition argues that the Coalition does not have a mandate to pursue workplace reforms during its second term in office as it did not respond to the report prior to the 2016 election. The report, which was released in late 2015, makes 70 recommendations on changes to workplace laws. Business groups have urged the Coalition to pursue IR reforms.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, VICTORIA. COUNTRY FIRE AUTHORITY