WESTERN AUSTRALIA – POLITICS AND GOVERNMENT

BHP, Rio spurn WA plan for upfront tax

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Original article by Tess Ingram, Julie-anne Sprague
The Australian Financial Review – Page: 3 : 5-Oct-16

Western Australian Premier Colin Barnett has again ruled out adopting a WA National Party proposal to increase the iron ore levy on BHP Billiton and Rio Tinto from $A0.25 per tonne to $A5. However, Treasurer Mike Nahan has described the levy as an anomaly, and he has held discussions with BHP and Rio regarding alternatives such as an upfront lump-sum payment. Both companies have indicated that they would not support an upfront payment.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, NATIONAL PARTY OF AUSTRALIA, FORTESCUE METALS GROUP LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, REACHTEL PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Forrest slams Grylls over tax threat

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Original article by Julie-anne Sprague, Tess Ingram
The Australian Financial Review – Page: 6 : 10-Aug-16

Fortescue Metals Group founder Andrew Forrest has criticised a proposal by new Western Australian National Party leader Brendan Grylls to impose an iron ore tax on BHP Billiton and Rio Tinto. Grylls has proposed changes to state agreements with the two resources giants to increase the levy on iron ore out from $A0.25 per tonne to $A5. Fortescue would not be affected as its state agreement is more recent. Grylls says the levy will not proceed if BHP and Rio successfully lobby the Federal Government to overhaul the system for distributing GST revenue.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, NATIONAL PARTY OF AUSTRALIA, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, MINERALS COUNCIL OF AUSTRALIA

Policy dividing state’s industry

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Original article by Paul Garvey
The Australian – Page: 6 : 19-May-16

Energy Quest’s Graeme Bethune says Western Australia’s requirement that 15 per cent of LNG production must be reserved for domestic use does not appear to have had much impact on gas prices in the state. Critics of the policy include the state’s Economic Regulation Authority, which concluded in 2014 that it deters investment in the gas industry. However, the DomGas alliance argues that there has been a sharp rise in investment since the policy was introduced in 2006.

CORPORATES
ENERGYQUEST PTY LTD, WESTERN AUSTRALIA. ECONOMIC REGULATION AUTHORITY, DOMGAS ALLIANCE, CHEVRON CORPORATION, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIAN LABOR PARTY, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, SINO IRON PTY LTD

WA in $16b asset sale to fix budget

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Original article by Julie-anne Sprague, Tess Ingram
The Australian Financial Review – Page: 1 & 8 : 13-May-16

The Western Australian Government’s May 2016 Budget forecasts that the state’s deficit will blow out to $A3.9bn in 2017, while net debt will rise above $A40bn by 2019. Treasurer Mike Nahan has flagged plans to privatise some $A16bn worth of state assets, including Western Power, the TAB and Fremantle Ports. Nahan has stressed the need for asset sales to reduce the Budget deficit and to invest in new infrastructure.

CORPORATES
WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, WESTERN POWER CORPORATION, TOTALIZATOR AGENCY BOARD (WESTERN AUSTRALIA), FREMANTLE PORTS, HORIZON POWER, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, STANDARD AND POOR’S CORPORATION

Fortescue pushes for ore inquiry in WA

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Original article by Amanda Saunders
The Australian Financial Review – Page: 11 : 2-Jun-15

Fortescue Metals Group is expected to lobby Western Australia’s economics standing committee to hold a parliamentary inquiry into the iron ore industry. Opposition MP Bill Johnston failed in a recent bid for parliament to hold such an inquiry, while Premier Colin Barnett holds the view that a parliamentary inquiry would not be appropriate. The Australian Government has also rejected Fortescue’s request for a federal inquiry.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN AUSTRALIA. LEGISLATIVE ASSEMBLY STANDING COMMITTEE ON ECONOMICS AND INDUSTRY, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, MINERALS COUNCIL OF AUSTRALIA

WA braces for housing slump

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 3 : 12-May-15

The Western Australian Government’s revenue from property-related taxes is forecast to be between $A2.6bn and $A2.9bn annually over the next four years. However, slowing sales of residential properties may adversely affect state revenue, and Hegney Property Group’s Gavin Hegney expects house prices to fall by 1-2 per cent in 2015. Demand for housing is expected to fall as population growth slows.

CORPORATES
HEGNEY PROPERTY GROUP, BANK OF WESTERN AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, LIBERAL PARTY OF WESTERN AUSTRALIA

Premier eyes new remit for CCC

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Original article by Daniel Emerson
The West Australian – Page: 11 : 5-Feb-15

Western Australian Premier Colin Barnett has flagged a review of the state’s Corruption & Crime Commission (CCC), conceding that its performance has been below expectations. Barnett has indicated that his preference is for the CCC to focus on investigating organised crime rather than police corruption. Plans to shift its focus to organised crime had been abandoned in September 2012

CORPORATES
WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. CORRUPTION AND CRIME COMMISSION, WESTERN AUSTRALIA. DEPT OF THE ATTORNEY-GENERAL

Trade backs ALP call on liquor laws

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Original article by Gareth Parker, Daniel Emerson, Gabrielle Knowles
The West Australian – Page: 16 : 29-Jan-15

Western Australian Opposition Leader Mark McGowan wants the views of tourism organisations to be considered in assessing applications for liquor licences. McGowan says outdated regulations affecting the hospitality industry should be scrapped, and he intends to pursue reforms to the Liquor Control Act if the Australian Labor Party wins the next state election

CORPORATES
WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY

Atlas boss backs royalty easing

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Original article by Paul Garvey
The Australian – Page: 19 : 21-Jan-15

Atlas Iron has advised that it lost around $US3 for each tonne of iron ore that it shipped in the December 2014 quarter, due to the sharp decline in the price of the steel input. MD Ken Brinsden has welcomed the Western Australian Government’s temporary measure of a 50 per cent rebate on iron ore royalties for smaller producers. He adds that the royalty relief should boost Atlas’s quarterly cash flow by about $A8m in 2015

CORPORATES
ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG

No free time

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Original article by Daniel Emerson
The West Australian – Page: 1 : 13-Jan-15

Some 1,127 fine defaulters in Western Australia opted to serve time in jail rather than pay their fine or undertake community service in 2013-14. In contrast, just 442 defaulters were jailed in 2007-08. Corrective Services Minister Joe Francis is concerned that many people are taking advantage of laws which allow multiple jail terms to be served concurrently. He has called for reforms such as longer jail periods and deducting the fines from the payments of welfare recipients rather than jailing them

CORPORATES
WESTERN AUSTRALIA. DEPT OF CORRECTIVE SERVICES, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK