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Canberra 19 July to 25 August 2016 Issue 84 Letter from Saving you time for nine years. A Quiet Post-Election Non-Parliamentary sitting period Edition In This Issue: Budget Bureacracy Shemozzle • Liberal Party Peace Plan • Plebiscite Indecision China Shut Out of Electricity Grids • Illegal Detention Ignored • The Norfolk Solution
Letter From Canberra Canberra Letter from Saving you time for nine years. A monthly digest of news from around Australia. Saving you time; now in its eighth year. About Us 3 Editorial 12 Media Affairs of State 14 Collins Street 3 Issue Items 12 Justice Melbourne, 3000 Victoria, Australia 3 Governance 12 IT P 03 9654 1300 6 Party Happenings 12 Welfare F 03 9654 1165 7 Industrial Relations 13 Education info@affairs.com.au www.affairs.com.au and Employment Letter From Canberra is a monthly public 8 Business, Economy, 13 Transport affairs bulletin, a simple précis, distilling and Manufacturing, Finance interpreting public policy and government decisions, which affect business oppor- 10 Mining 13 Foreign Affairs tunities in Victoria and Australia. 10 Trade 14 Defence Written for the regular traveller, or people with meeting-filled days, it’s more about 10 Refugees and Immigration 15 Health business opportunities than politics. 10 Tax 15 Indigenous Affairs Letter from Canberra is independent. It’s not party political or any other political. It does not 11 Climate Change, 15 Sports have the imprimatur of government at any level. Environment and Energy The only communication tool of its type, 11 Agriculture, Cattle and Water 16 Society Letter from Canberra keeps subscribers abreast of recent developments in the policy ABOUT THE EDITOR— ALISTAIR URQUHART, BA LLB arena on a local, state and federal level. Alistair Urquhart graduated from the Australian Published by A.B Urquhart & Company National University in Canberra, in Law, History Pty Ltd trading as Affairs of State. and Politics. He may even hold the record for miles rowed on Lake Burley Griffin. Disclaimer: Material in this publication is general comment and not intended as advice He was admitted as a barrister and solicitor to on any particular matter. Professional advice the Supreme Court of Victoria, and remains a should to be sought before action is taken. (non-practicing) member of the Law Institute of Victoria. Previously, he graduated from high school Material is complied from various sources in Bethesda, Maryland, and had many opportunities including newspaper articles, press releases, gov- to become aware of the workings of Washington D.C. ernment publications, Hansard, trade journals, etc. For 30 years, he listened every Sunday evening to the late Copyright: This newsletter is copyright. No part The editor and wife having coffee in Alistair Cooke and his Letter from America. Alistair’s early may be reproduced, stored in or introduced Manuka with a wonderful couple, the career was mostly in the coal industry, where he became into a retrieval system, or transmitted, in any Martins, from ANU university Days. involved with energy, environmental and water issues, form or by any means (electronic, mechanical, and later in the SME finance sector. photocopying, recording or otherwise), without the prior written permission from the publisher. He found time to be involved in a range of community activities where he came to understand some of the practical aspects of dealing with government and meeting people across the political Affairs of State respects your privacy. While spectrum. He now chairs a large disability employment service, including its British operations. we do believe that the information contained in Letter from Melbourne will be useful to you, please advise us if you do not wish to ABOUT THE PUBLISHER—AFFAIRS OF STATE receive any further communications from us. Established in 1993, is an independent Australian public affairs firm with contemporary Edited words in this edition: 18,123 international connections. Affairs of State provides a matrix of professional tools to multinational businesses, professional and industry associations, government agen- Staff cies, pressure groups, NGOs and community causes in Australia and abroad. Editor Alistair Urquhart The firm works with many engineering and information technology firms and other professional alistair@affairs.com.au association and industry groups on a wide range of issues in Victoria, Canberra and overseas. Sub-editor The firm provides the following to clients: Will Pasznyk ʇʇ Two monthly publications will.pasznyk@gmail.com ʇʇ Events at our offices and elsewhere ʇʇ Charts and specialist directories Design ʇʇ Facilitation with business and legal skills Andrew Morley ʇʇ Training courses me@ajmorley.com ʇʇ Mentoring of senior executives 2
19 July to 25 August 2016 EDITORIAL ISSUE ITEMS to lick private correspondence to the media. Mr Turnbull denied he supported Mr Rudd’s till to It has been a vey quiet public/media month on the ʇʇ Passing the Budget—Bureaucracy lead the United Nations during a key December federal front, as the new Government negotiates Shemozzle (Page 5) meeting, But refuse to be drawn on Mr Rudd’s with both the Opposition and the minor Parties ʇʇ Liberal Party Peace Plan (Page 5) central claim that he had previously expressed on some big economic and also some social issues. ʇʇ AusGrid— China Shut Out of his support for the bid, as reported in The Age. Passing the Budget is focusing on company tax, Electricity Grids (Page 9) personal superannuation and a balanced budget, ʇʇ Detention—Illegal Detention Ignored (Page 10) Dodgy Steel Imported not just for this year. The Big end of town is starting ʇʇ The Norfolk Solution (Page 10) Australian lives at risk because of shoddy to join in the Debate on the economic issues and fabricated steel imported from China, according GOVERNANCE some of the less economic and more cultural issues to the peak welding body, which is demanding as well. Let them make their arguments clear, bal- Slow In Syrian Intake – Immigration that Prime Minister Malcolm Turnbull introduce anced and understandable by the wider population. Nearly a year after former Prime Minister a certification regime to ensure compliance Tony Abbott announced that Australia would with Australian standards. Welding Technology The Smaller end of Town, the myriad of resettle an extra 12,000 people displaced by Institute of Australia chief Executive Gough businesses in every town, village and suburb the Syrian conflict, fewer than 2000 refugees Crittenden told The Australian that about 85 per in Australia, are particularly awaiting the have arrived under the emergency program. cent of imported fabricated steel coming into the new industrial relations freedoms that have country failed to meet Australian standards. been promised to them for a long while. New figures obtained by The Weekend Australian show that work is accelerating to fill the Rise of Fresh-Faced Conservatives The Energy debate is winding up, not just quota, which was established to augment Matt Canavan’s elevation to Resources Minister wind but the full bracket of energy sources, Australia’s regular humanitarian intake. Last was the biggest boost for the rising generation especially as South Australia have been in financial year, a mere 758 refugees were of young conservatives in the Coalition. Zed dream world for the last couple of years about settled under the program. As of August 5, the Seselja, The Liberal Senator from Canberra, was a truly reliable long term energy supply. figure had more than doubled, to 1868. the other big winner-rising from the backbench Chinese investment in Australia bounced off the to become the assistant minister for social Revolution On The Back Foot Port of Darwin possible purchase but has been services a multicultural affairs. His promotion is Australian company Revolution IT, which was more clearly under consideration with the seeking seen as a nod from Malcolm Turnbull that he is paid $470,000 to ensure the IBM-built $ 9.6 by the Chinese to purchase a significant New South listening to the concerns of his party’s right wing. million census servers posted at Baulkham Hills Wales electricity transmission grid, without suc- in Sydney would cope with the load of centres The son of Croatian immigrants fleeing the restric- cess. About this time, cyber security hit the ceiling by traffic, has defended its work. The system tions of communism, Mr Seselja is an opponent of or at least the minds of many more Australians. was deliberately taken offline by the ABS to deal saying-sex marriage, supports scrapping restric- The Big Social issue. Do we have a plebiscite/a vote with a DDoS attempt, and Revolution IT director tions on racially offensive speech and reduced for every Australian a la normal federal election said protecting against this was a security, not weekend penalty rates the hospitality workers. mode, BEFORE the Government brings a vote to performance, issue, according to the Herald Sun. The 39-Year old knows how to operate in hostile the Parliament where just the Representatives environments, having spent six years as Liberal Tasmanian Instability and the Senators have their vote on the issue leader in the ACT Parliament, as reported in The Age. The Tasmanian Premier Will Hodgeman, of gay marriage and related factors. Manus followed his larger-than-life father Michael, the Land Clearing Legislation Out Island to faze out as an asylum seeker abode Rumpolean QC and Fraser government minister, Cape York Aboriginal leaders have attacked plans brings another huge social issue to the fore. into law, the Liberal Party, parliament and finally by Queensland Premier Annastacia Palaszczuk Your editor wonders how we might ever resolve into government. Having rid Tasmania of a to crack down on land clearing, warning that it the bigger social issue of free speech. deeply unpopular Labor-Greens government in will stop job-creation projects and enshrined March 2014, ending the Liberals 16 years in the further ‘social and economic disadvantage’ in the Cover. The Law is one aspect of the whole concept political wilderness, Hodgeman has striven to indigenous communities. The proposed legislation, (?!) of free speech and on a later page we have a pic- deliver the nirvana he promised would flourish which includes a move to abolish the previous ture of the present High Court of Australia, on the under ‘stable, majority Liberal government’. Liberal National Party government permits for banks of Lake Burley Griffin. Down Melbourne way, ‘high-value agriculture’, is seen as a pitch for critical in a side Lane, Little Burke Street and abutting the After such a cathartic victory, a decline was bound Greens preferences in inner-Brisbane seats next wonderful Victorian Supreme Court Building, Our to follow. Few, however, foresaw quite how quickly year’s state election, as reported in The Australian. Cover shows the original High Court of Australia the Liberal Party would slide in Tasmania – and Building. A drop of heritage involved but its how low. The former cleanskin is ducking dirt flying Abbott regrets RDA reform attempt position is not really recognized, for all of the years from all directions, not least fallout from an energy Tony Abbott says his government should have up until 1980 when the law of the Land/Our Land crisis, bitter bloodletting over a disastrous federal pursued less ambitious reform of section 18C of was focused here, perhaps radiated from here. election result, and a wounded hard-Right pow- the Racial Discrimination Act, in comments that Our Law is being perhaps edged out a bit (much) erbroker Eric Abetz cutting loose on everything will re-open debate in the conservative wing of by other ways of changing our Australian life. Malcolm Turnbull’s mistakes to Muslim immigra- the Liberal Party about changing the Act and tion, writes Matthew Denholm in The Australian. potentially create a new headache for Malcolm Turnbull. In a speech to the Samuel Griffith Society Rudd-Turnbull Letter Leak in Adelaide, Abbott also lamented Australia’s Prime Minister Malcolm Turnbull has launched a ‘hyper-partisan’ politics and surprisingly suggested singing attack on Kevin Rudd, accusing the former that, while opposition leader in 2011, he should PM of verballing him and plotting in advance Get your voice to the people who matter. Advertise with Us Want to get your firm or product in front of the power-holders of Australia? Advertising with Letter from Melbourne is the best Plaque commemorating Little way to do so. Bourke’s little-known history. Read by CEOs, MPs, and movers-and-shakers in Australia and beyond, our magazine gets your voice to the people who matter. Email alistair@affairs.com.au or call 03 96541300 to discuss how we can help. 3
Letter From Canberra have allowed Julia Gillard’s government to poll, where they will be required to effectively kept secret, known only to the party’s federal implement its so-called Malaysian solution and double their vote to retain their seats. director Tony Nutt, federal treasurer Andrew send up to 800 asylum seekers to that country. Burnes and a small number of Mr Turnbull’s But Pauline Hansen, Jacqui Lambie, Nick closest confidants. Sources close to the federal The former prime minister is also strongly Xenophon and his first running mate Stirling campaign told The Australian the money provided critical Liberal state premiers, including NSW Griff will take six-year terms because of the high by Mr Turnbull was a donation not a loan. It leader Mike Baird and former Victorian Liberal vote they received at last month’s election. The is understood not to be tax-deductible. leader Dennis Napthine, who opposed the Constitution requires the Senate to award six harsh cuts to schools and hospitals in the 2014 of the 12 members elected from each state a Former party treasurer Michael Yabsley said the federal budget. Crossbench senators David six-year term, which will expire on June 30, 2022. federal Liberal Party was an organisation that Leyonhjelm and Bob Day have both flagged The other six received a three-you can, to expire had been struggling financially for 20 years. ‘I they will introduce legislation to, respectively, on June 30, 2019. There are no rules about how said at the end of 2010 that the Liberal Party was abolish section 18C of the RDA, which makes it this should be done after a double dissolution. on the brink of insolvency: that was the case illegal to ‘offend, insult, humiliate or intimidate’ The deal means six-year terms will be given to then and I believe it’s the case now,’ Mr Yabsley a person, or in Senator Day’s case to remove the 16 of the Coalition’s 30 senators and 13 of Labor said. ‘The fact that the Prime Minister has to put words ‘offend’ and ‘insult’ from the clause. is 26, as reported in The Weekend Australian. his hand in his pocket is pretty strong evidence of that.’ Mr Yabsley said the Liberal Party had a Attorney-General George Brandis has said the Brandis Attempts Gag Act small membership base and little engagement issue remains off the table for the government. Attorney-General George Brandis wants cabinets with the corporate world, while Labor was able to Amid deep disquiet, including a cabinet revolt, to have greater opportunity to thwart the Freedom rely on the union movement and the support of the plan was eventually dropped in 2014 - much of Information Act, his lawyers arguing almost other organisations such as GetUp! The Australian. to the annoyance of free-speech advocates every meeting with minister should be regarded within the Liberal party. Mr Abbott said in his as potentially secret or sensitive. Senator Brandis Call for Strong Leadership speech Section 18C of the RDA was a ‘troubling – also the minister responsible for FOI – is trying to It is 10 months since Malcolm Turnbull took over law. At its worst, it limits free speech merely to overturn an Administrative Appeals Tribunal ruling the leadership from Tony Abbott. But, having prevent her feelings’, as reported in The Age. his office was wrong to refuse to process and FOI scraped back into government, there seems application from Labor relating to his official diary. still to be no national agenda, no pathway, Online Census Epic Fail no narrative to convince us the government Foreign cyber attackers triggered the meltdown Under the Act, an application can be rejected knows what it is doing. Everything is directed of Australia’s first online Census, turning the without decision if the work required to process it to the short term. Former Victorian Premier five-yearly population snapshot into a $340 would substantially and unreasonably interfere Jeff Kennett writes in the Herald Sun. million debacle. In one of Australia’s greatest with the performance of minister’s office or bureaucratic bundles, millions of people found responsible agency, according to The Australian. The latest example is the establishment of the themselves trapped in front of their computers royal commission into juvenile detention in Union Reform Likely After for hours on end, unable to lodge their forms. the Northern Territory. And ABC program, with Liberals Win Majority The ABS pulled its website down after its graphic pictures, goes the air and the next day the A surprise Senate victory has given Malcolm defences failed under the weight of the cyber Prime Minister and out of the royal commission. Turnbull a clear chance to legislate the union attacks and millions of people logging in to No time was taken to consider the facts or how crackdown he put at the height of the federal the complete their forms on Tuesday night. best to address the issue raised in the report. election campaign, is the government opens The government claimed it had acted decisively Federal cyber-spy agency the Australian Signals talks with Pauline Hanson other key cross- but the decision was made, without proper Directorate is investigating whether another nation benchers to overcome fierce objections to the thought or process, for short-term political was behind what the ABS says was four ‘denial reform. The government was buoyed by South advantage. Then followed the embarrassment. of service’ attacks, which did not penetrate the Australia with Family First senator Bob Day website but did tried to block it by flooding it with won the state’s final place at Labor’s expense. No Census Rerun fake accounts. But sceptical computer experts said The Australian census has not been compromised Adding its 76 lower house seats to a poten- it was more likely that the website has simply been and will not need to be rerun, the Turnbull tial Senate tally of 30, the government is swamped by the numbers of people logging in. government says, despite a crippling series of calculating that it could get enough support cyber attacks leading to the decision to shutdown The federal Opposition’s assistant treasury from the crossbench to secure the majority the census website. But the Prime Minister spokesman, Andrew Leigh, said that the delays of 114 votes it would need when the House of defended the Australian Bureau of Statistics experienced in lodging forms had compromised Representatives sits with the Senate - an event decision to err on the side of caution in order to the quality of the census. ‘Make no mistake: unseen since 1974, as reported in The Australian. protect the people data. Treasurer Scott Morrison from here, the data from 2016 census will never Hinch to Listen and Learn dismissed suggestions the census might need be as good as the data from previous censuses,’ Senator Derryn Hinch says he will wait to hear the to be abandoned and repeated after millions Mr Leigh said, as reported in the Herald Sun. arguments of other politicians, to see ‘the whites of Australians were unable to fill their forms. Census Blame Game of their eyes’ and to listen before he makes policy ‘There is no compromise of integrity of the Four days after millions of Australians heading to judgements in Canberra. That is already made information,’ he said. ‘There is no need, for bed frustrated and angry, having unsuccessfully up his mind about free speech, as per The Age. any statistical reason, for return of the census.’ tried to complete the census online, we still don’t Out of Favour Abetz Chief statistician David Kalisch and technicians know exactly what went wrong, or who to blame. Eric Abetz is one of Australia’s best-known senators at IBM opted to shutdown the website at 7:45 Politicians have chosen to blame the only non-gov- – a conservative warrior who’s ruled the Tasmanian PM after system failures resulting from cyber ernment entity involved - US-based tech giant IBM, Liberal Party with the proverbial iron fist since the interferences by as-yet-identify perpetrators. which one $9.6 million con tracts in 2014 to design, early 1990’s. Ferociously opposed to progressive Among the errors contributing to the fiasco were develop and implement the online census, writes causes such as same-sex marriage (which he labels the failure of geo-location mechanism to block Patrick Hatch and Lucy Battersby in The Age. the ‘latest fad’ and the first step on the road to poly- international traffic and a router overload that Senators Term Times Announced amory), he’s the bloke the Lefties most love to hate. triggered a ‘false alarm’ on the system monitors. Derryn Hinch and Lee Rhiannon have missed out But after being dumped by Malcolm Turnbull and Mr Turnbull assured Australians that ‘their data on a six-year Senate term after a controversial losing his role as Leader of the Senate and employ- is safe’ and said the decision to shut down the countback method was rejected by the Coalition ment minister, Abetz has become an outspoken website had been taken ‘out of an abundance and Labor to decide term limits. Under a deal critic, according to Ellen Whinnett in the Herald Sun. of caution’ by the ABS, as reported in The Age. between Finance Minister Mathias Cormann Turnbull Donates to Libs and Labor’s Senate leader Penny Wong, just Sad Day for Labor Malcolm Turnbull donated $1 million of his own four of the 11 crossbenchers will get a six-year Surprise result at the end of counting in South money to bail out the Liberal Party during the term and only three of the nine Greens.It means Australia’s Senate race, the anti-union Family federal election campaign, so desperate was the seven crossbenchers and six Greens will face First Senator Bob Day Has emerged as the party for finances. The donation was a tightly re-election within three years at a half Senate 12th senator from the central state, displacing 4
19 July to 25 August 2016 Labor’s forth spot and thus ending the career total $ 699, 023, 526. Among them is a single deal right of his party, which supported Abbott in of Anne McEwen. The final result in south with Human Services worth $484, 168, 980. the leadership spill in September last year. Australia is: Liberal 4, Labour 3, NXT 3, Greens The flexible, five-year contract, which began on Imagine that: a politician being political. Too 1 (Sarah Hanson-Young), Family First 1. January 1, will see agencies hey under the DHS few have been willing to call out Shorten for the Former housing industry entrepreneur, the umbrella such as Medicare and Centrelink use IBM fraud he and his campaign are. Let’s look at it: conservative Senator Day secured his term with services and consultants to transform outdated His 100 positive policies have morphed into just 0.37 of a quota of first preferences. His return computer systems, but will not pay for a replace- a single negative Medicare scare based on on favourable preference flows, adds to the ment payment system, as reported in The Australian. a lie. It is likely to persuade voters this man numbers in favour of the government’s Australian Federal election 2016: Conviction ‘may is just not Prime Minister material. Building and Construction Commission and it’s make Senate win invalid’ Registered Organisation bills, according to The Age. Shorten pledged after the budget to make the Some constitutional lawyers say the election of election a referendum on the government’s Bureaucracy Shemozzle One Nation candidate Rod Culleton to the Senate decision to cut the $4.5bn Schoolkids Bonus, only The superannuation package Scott Morrison appears to be invalid, meaning the Australian later to accept the revenue savings in his own announced in this year’s budget is turning Electoral Commission may need a recount to mid-campaign costing’s release on May 26. into the complete shemozzle. The real reason determine who is elected in his place. Mr Culleton Malcolm Turnbull knockback Kevin Rudd had was convicted of larceny in NSW in March but is yet After a year of criticising the 2015 Coalition nothing to do with Rudd’s poor interpersonal to be sentenced. The offence carries a maximum changes to the pension assets test, Shorten skills but rather Turnbull’s realisation that his sentence of between two and five years in prison. accepted the change and banked the party base would go into complete meltdown associated revenue mid-campaign. The charge related to the theft of a tow truck had he supported the former Prime Minister’s key during an attempt to repossess a vehicle Reports Chris Mitchell, Campaign Media candidacy for the position of UN secretary-general. that Mr Culleton was leasing. The Australian Watch columnist from Sydney Turnbull and Morrison probably now realise they Liberal Party Peace Plan PM Key Issues have been played for mugs but the bureaucrats Malcolm Turnbull is offering a peace plan to furi- Malcolm Turnbull will need to manage two key in Treasury and Prime Minister and Cabinet Love ous backbenchers on the warpath over tax hikes on issues during this term of government: the threat of Long how the ambition to unwind what they see as superannuation, tackling concerns over the $6 bil- internal divisions within the Liberal Party and the the unjustifiable superannuation tax concessions. lion budget plan by setting up a new forum to clear policy challenges the nation faces… Peaceful coex- You have only to check out the highly erroneous the way for a deal that will legislate the changes. istence between the PM and younger conservatives but enormous values put on these concessions, as When it became clear Michelle Landry had held is crucial. The key is that these groupings are presented in the annual tax expenditure statement on to her central Queensland seat of Capricornia, listened to, not bought off reports The Australian released by the Treasury, to pick up the agenda snaring the government its crucial 76th seat, that the activist bureaucrats have been running, PM Backs NT Government Malcolm Turnbull told the LNP backbencher: according to Judith Sloan in The Australian. The Turnbull government is standing by the ‘Michelle, you have saved the nation.’ According to increasingly embattled Giles government in the No Plebiscite for Minority Issues the National Party, of which she is a member, her Northern Territory and will resist calls to exclude Australian should reject the proposal to holed victory in what has previously been regarded as a it from joint stewardship of its royal commission plebiscite as a precondition to the enactment safe Labor seat was no thanks to Turnbull and his inquiry into human rights abuses within the terri- of same-sex marriage legislation by the federal ‘innovation agenda’, as reported in The Australian tory’s youth justice system. The Prime Minister’s parliament. The elected politicians should get Canberra Press Gallery Falls for Bill insistence on shared administration comes despite to work on what we the people elected them to Shorten’s Medicare Con growing calls for the government in Darwin to be do – to decide on the law, one way or another, in Labor has pulled an enormous media con job on sacked, or at least stripped of its responsibilities parliament. Not at the hustings. A plebiscite much of the Canberra press gallery. Journalists for juvenile detention. Details of the rapid-action campaign unfortunately would be likely to bring have been prepared to praise Bill Shorten royal commission are to be settled at a cabinet out hatreds and animosities in our country that are and his Treasury spokesman Chris Bowen for meeting in Canberra, as reported in The Age bad for minorities generally and for the lesbian, gay, ‘doing the hard yards on policy.’ Much of the bisexual and transsexual minority in particular. Plebiscite on the Agenda progressive media and many vocal conservatives No Coalition or Labor MP who opposes same sex It is exceptional and wrong in principle to commit have spent the campaign pointing out the marriage will be forced to vote in support of the decisions on the basic human rights of minorities Prime Minister has softened his progressive change should it receive majority backing at the to majority popular vote, especially in a country positions on social issues to accommodate the plebiscite. Instead there are various mechanisms such as Australia which, exceptionally, has no entrenched constitutional guarantees for equality or fundamental human rights to protect minorities, according to Michael Kirby in The Australian. Coalition Clash The West Australian government was in chaos after former Nationals leader Brendan Grylls called for a policy overhaul and declare Premier Colin Barnett was headed for defeat next March. Nameless Census Senators Nick Xenophon, Sarah Hanson-Young and Scott Ludlum are vowing not to put their names on their census forms amid claims the national survey has turned into a ‘mobile CCTV that follows every Australian’, as reported in The Australian. IBM’s Big Deal The technology provider at the centre of the census debacle, IBM, has won 136 federal government department contracts worth almost $700 million dollars in the past year. The contract between IBM and departments and agencies including Defence, Immigration and Border Protection, Social Services, Health, IP Australia and the Australian Bureau of Statistics 5
Letter From Canberra to ensure the Parliament votes to reflect the disillusioned, Australia could be back at the start conducting itself with the self-discipline plebiscite result without anyone having to lose face polls in just two years. The July 2 election was a and professionalism expected of the secretary or vote against their strong personal view. Malcolm full-Senate election, half the 76 Senators who officers, writes Chris Merritt in The Australian. Turnbull has promised to hold a plebiscite after were elected will serve three-year terms while Not a Gooda Appointment the election if he wins. Labor, if it wins, will put the other half or serve the full six-new terms. The decision of Attorney-General George Brandis the issue straight to a vote of the Parliament. Three-year terms are effective from July 1 this to make Mick Gooda a royal commissioner is a Shorten Supports Radical Reform year and will expire on June 30, 2019. That means farce and a scandal. How can Gooda, a professional Bill Shorten has imperilled the indigenous there will have to be another half-Senate election Aboriginal activist, Possibly be an impartial judge, referendum by breaking bipartisanship on the and, by extension, a federal election, by mid-May jointly presiding over the royal commission into issue to support a radical form of reconciliation 2019, so the Senate votes can be counted and the juvenile justice in the Northern Territory? How aimed at pushing a treaty-like process designed newly elected senators be ready to take their seats can he be considered impartial when he’s already to resolve grievances dating back to European on July 1, 2019. However, because of conflicts with declared the key defendant guilty – attacking the settlement. The Opposition Leader backed plans state elections in NSW and Victoria, Prime Minister Northern Territory Government as incompetent, unveiled by Cape York leader Noel Pearson Malcolm Turnbull may be tempted to go even vicious, dead to reform and needing to be for constitutional reform to insert a ‘hook’ into earlier, as reported in The Australian Financial Review. sacked? If Gooda does not resign, then Brandis the nation’s birth certificate, off which could must, writes Andrew Bolt in the Herald Sun. PM NT Kerfuffle then be hung a settlement process likely to see Prime Minister Malcolm Turnbull’s troubled individual First Nations bodies strike a network PARTY HAPPENINGS start to his new term in office continued when he of deals covering large parts of the continent. had to replace the royal commission probing the Portfolios Combined Mr Shorten sided with Mr Pearson and Arnhem Northern Territory’s Juvenile Justice System. Four Malcolm Turnbull’s moves to combine the energy Land leader Galarrwuy Yunupingu in calling for days after his appointment, Brian Martin quit and environment portfolios has won a mixed the radical approach just as the Referendum over concerns of perceived conflicts of interest response, as Victorian Liberal Josh Frydenberg’s Council, established in December to chart relating to his former term is NT chief justice. record in competing areas comes under a new the next steps, and has heard warnings from scrutiny. Greenpeace slammed Mr Frydenberg’s Discrimination Commissioner Blunder indigenous people that recognition without appointment to replace Greg Hunt in the expaned The Race Discrimination commissioner has just some form of treaty would be unacceptable. portfolio as a blow to the Great Barrier Reef, while made it extremely dangerous for his organisation Climate Council boss John Connor said the upcom- ‘Let’s be straight: constitutional recognition is to discharge all of its statutory duties. Tim ing review of the government’s climate and energy important, and it shouldn’t be beyond the wit Soutphonmmasane has encouraged people to policy framework could deliver progress. The move and wisdom of the nation to be able to recognise lodge complaints with the commission about Bill follows Labor’s lead in combining energy and envi- our First Australians in the nation’s sort of official Leak’s cartoon last week depicting an Aboriginal ronment under Mark Butler, as reported in The Age. birth certificate; but that is not in and of itself policeman returning a delinquent Aboriginal going to resolve every issue for the last 200 years,’ youth to his equally delinquent Aboriginal Greens Gone Red Mr Shorten said, as reported The Australian father. The problem is that the commissioners Greens co—founder Bob Brown has urged a prejudge those complaints: Leak, according ‘clean-out’ of the party’s NSW division, which NT Government Betrayal to Soutphonmmasane’s public statements, is is dominated by extreme hardliners left over Former chief minister Ian Tuxworth says the Giles guilty and people should feel free to complain. from the Cold War. Although many Greens government has betrayed the Northern Territory spring from the environmental movement, the he loves and fought for. Mr Tuxworth, who also Those complaints will all go to party’s NSW leadership includes senator Lee served as a Country Liberal Party minister for Soutphonmmasane’s organisation, where Rhiannon, formally of the Soviet-sponsored prisons and juvenile justice, delivered his verdict every official knows that one of those at the Socialist Party, and convener Hall Greenland, a on abuses in youth detention and the state of the top has already made up his mind. That means one-time Trotskyist expelled from labour in 1984. CLP administration in the Top End. ‘I’m appalled any attempt by the commission to deal with and I’m ashamed,’ Mr Tuxworth said. ‘I can’t the complaints about Leak’s cartoon is now The Greens party was dumped at the federal believe such an abomination happened.’ After vulnerable to challenge for a perception of bias. election, suffering a negative swing in the Senate watching footage on the ABC’s Four Corners of Leak, like everyone else in this country, has a and advancing little in targeted lower-house seats children shackled and hooded, beaten and right to procedural fairness. Decision-makers such as Grayndler and Sydney. Dr Brown, who sprayed with tear gas, he said he sat stunned in who knowingly infringe that right might also retired from Parliament and 2012 after leading front of the TV, as reported in The Australian be vulnerable to accusations of malice. the Greens to their best results in 2010, has taken the division to task in an interview published Life Insurance Crackdown In free societies, the right to a fair hearing before in The Monthly, as reported in The Australian. The federal government will push ahead with a an arm of the state is fundamental - a fact that has crackdown on life insurance commissions in an long been recognised in Australian administrative Questions Over Activist Group attempt to mend the scandal-ridden sector. law. Soutphonmmasane’s prejudgement of Partisanship Leak’s cartoons was not a mere slip-up. It was GetUp! chairwoman Sarah Maddison campaign In her first speech as Revenue and Financial blatant, which can be seen from the report on for the Greens during the federal election, Services minister, Kelly O’Dwyer said the that affair that was published last week by Fairfax calling into question the activist group’s claim government was working to push legislation media. He was quoted as saying ‘our society not to support publicly any political party, and through parliament to address upfront commis- shouldn’t endorse racial stereotyping Aboriginal provoking outcry from conservative politicians. sions that plagued the sector, as per The Age Australians or any other racial or ethnic group.’ On its website, GetUp! states that its work ‘is Banks Royal Inquiry Rethink driven by our values, and not our party politics’. Here’s what needs to happen. Thanks to Opposition Leader Bill Shorten has leapt on the ‘GetUp! is, and always has been, an independent Soutphonmmasane, there will be complaints to Prime Minister’s reference to the banks operating organisation,’ it states, as reported in The Australian. the commission about the cartoon. Somebody under a ‘social license’ to ask Malcolm Turnbull to will need to deal with them. In another case Cabinet Shake-Up reconsider supporting a banking royal commission, where the commission has been accused Malcolm Turnbull has undertaken a larger as the opposition considers pushing the Parliament of breaching human rights, it brought in an than expected shake-up of his frontbench by for an inquiry. But the government has hit back, independent silk to avoid the obvious conflict elevating two more Nationals, looking after his saying Mr Shorten’s call is ‘completely confused’ of interest. Thanks to the Race Discrimination own supporters and controversially doing little and accusing the opposition leader of having only Commissioner, it needs to do the same thing now. to build bridges to disgruntled Conservatives, a ‘crass political’ interest in pursuing the issue, as reported in The Australian Financial Review. as reported in The Australian Financial Review. That will be a ridiculously expensive waste of taxpayers’ money but the alternative is Liberal Blame Game Next Election Could Be Two Years Away for the commission to blunder on hoping It is noteworthy that the most powerful figure The new federal parliament will not sit that Leak will allow his rights, as well as his in Tasmanian Liberal politics, Senator Eric Abetz, until August 30. And, thanks to constraints reputation, to be traduced. If the Human has in one of the most vocal critics of the national caused by the recent election being a double Rights Commission has a future it needs to election campaign ‘a lot of our colleagues see 6
19 July to 25 August 2016 the election results is that barest victories-if Beazley Questions Rudd the most recent Labor prime minister to become we can call it is victory,’ Senator Abetz told ABC Former ALP leader and ambassador to the US Kim the next secretary-general of the United Nations. radio. Yet Liberal sources are questioning why Beazley has questioned Kevin Rudd’s viability as Australia does not produce many political figures things went so badly in Tasmania and who might a candidate for UN secretary-general. Mr Beazley, of such international standing to be considered be responsible. Yes, it is conceded that in the replaced by Mr Rudd as Labor leader in 2006, said a serious prospect for one of the pinnacle jobs often economically stretched state, the issues endorsing a male from the Asia-Pacific region of global governance suggests the Australian of health and education hit the Coalition hard. would require an enormous effort to influence Financial Review. Mr Rudd has clear expertise the vote at a difficult time. The Australian. and experience within the UN system, including The 2014 budget measures continue to either way through Australia’s successful campaign to secure at the government’s standing with voters. Malcolm Rudd Left Waiting at the Altar After a revolving seat on the UN Security Council. Turnbull’s company tax cut did not resonate Turnbull Rejection with the people worried about their blue-collar After cabinet finished meeting on a Thursday Small Business Portfolio Dropped jobs. Yes, there was consternation that there was afternoon in late July, Malcolm Turnbull and Mr Turnbull named his ministry after a drawn-out not a clear ‘Tasmanian package’ until measures Barnaby Joyce adjourned to the Prime Minister’s election count, dropping Small Business from announced just days out from polling day. office to discuss the unsettled matter of Kevin Kelly O’Dwyer’s portfolio. Ms O’Dwyer remains Rudd. There was a firm resolve between the two in the Cabinet as Minister for Revenue and But the arguments in the state Liberal Party is leaders of the Coalition not to endorse the former Financial Services but no longer titled Assistant that there were a lot of other factors at play, most prime minister for the role of UN secretary-general. Treasurer, which Turnbull says modernise the noticeably revolving around the decision to dump role. Controversially, the small business portfolio Tourism Minister Richard Colebeck to an unwinna- ‘It’s like a wedding,’ Joyce said. ‘You don’t say, will consigned to the outer ministry, after being ble position down the Liberal party Senate ticket. ‘You should marry this guy even though he’s handed to Nationals MP Michael McCormack. Laura Tingle writes in The Australian Financial Review. not the right choice and it’s going to end badly.’ You don’t marry someone just because you’re ‘This is about stability and continuity and Liberal Donors Pass scared of hurting their feelings.’ Cabinet split significant economically and fiscally challenging An analysis of the Liberal Party’s biggest donors was ultimately a case of personality versus time’ Mr Turnbull said. Council of Small ahead of the 2013 election shows two of the top protocol, as reported in The Australian Business of Australia chief Peter Strong accused three have since died, and several others have big business of ‘classic behind-the-scenes been involved in political scandals, offering some Modern Politics Has Reached a Sorry State manipulation’ and dismissed the PM’s defence hints as to why the party may have struggled for The rejection of Kevin Rudd lays bare our that every minister was representing small cash during its more recent campaign. Healthcare fractured political culture of payback. If Labor business, as reported in the Herald Sun. and media entrepreneur Paul Ramsay — who has an ethical standard that guides its conduct gave the party’s top single donation, $550,000, it is no better than this: hurt your enemies INDUSTRIAL RELATIONS in 2013 — died in May 2014, leaving almost help your friends. Now, with the government’s and EMPLOYMENT all of his $3 billion fortune to charity. refusal to nominate Kevin Rudd as a candidate for secretary-general of the UN, the Coalition CFMEU tensions rise The third-largest donor, businessman, risks sinking to its opponent’s level. The Age reported that Australia’s largest con- yachtsman, winemaker and philanthropist struction union faced a scathing rebuke for its Bob Oatley, who contributed $400,000 in It Pays to be Independent long record of lawlessness, which a federal judge 2013, died in January. Millionaire businessman Pauline Hanson’s success at the ballot box has labelled an ‘embarrassment to the trade Paul Marks, friend of then leader Tony Abbott, will mean her party will receive $1.6 million union movement’. The CFMEU was penalised contributed $500,000 through his business from taxpayers. Labor and the Liberal Party nearly $180,000 in July for illegally blockading Nimrod Resources and $431,361 through P. Marks take two-thirds of the total spending, with the a Melbourne work site in an attempt to force Investment Pty Ltd in 2013. The Australian Liberals receiving $23.4m, roughly the same as in building giant Grocon to cede to union demands. the 2013 election, while Labor’s $22.3m is about Fundraising an Uphill Battle Justice Christopher Jessup slammed the CFMEU’s $1.6m more than it earned from the last poll. The Liberal Party’s fundraising efforts in the key extensive history of violating workplace law. ‘The state of NSW were struggling months before The Greens will get $6.3m, up from $5.5m in 2013, CFMEU’s record of non-compliance with legislation the federal election, forcing the state division and the Nationals receive the fourth-largest of this kind has now become notorious,’ he said. to take a loan with Westpac, due to be repaid cash injection of $3.1m, the same as the last ‘That record ought to be an embarrassment by September. The NSW Electoral Commission election. The Australian Electoral Commission to the trade union movement.’ The Federal is continuing to withhold about $4.3 million authorised the first payment of public election Court handed down the heavy fines over the in public funding, questioning the Liberals’ funding from the July 2 election. The Australian union’s unlawful industrial action at the Yarra disclosures about donations funnelled through Rudd Primed for the Job Edge Tower 8 apartment complex project in the party’s controversial Canberra-based trust, Kevin Rudd is right about one thing at least. It Melbourne’s Docklands in February 2011. Six the Free Enterprise Foundation. The Australian is a great pity that Malcolm Turnbull’s Coalition CFMEU Victorian officials, including Elias government has opted not to give its backing to Spernovasilis, Bill Oliver and Shaun Reardon, 7
Letter From Canberra were also personally fined for the three-day picket BUSINESS, ECONOMY, Super Regulations To Be Increased that blocked access to the site and prevented MANUFACTURING, FINANCE APRA is starting to tighten the screws on the delivery and installation of a tower crane. superannuation funds that book continual poor Aldi Urged to be Transparent performance and face unsustainable outflows of Election 2016: Labor and Liberal unite Coles has urged its German rival Aldi to sign money, suggesting it will push for more merges against worker exploitation up to a new tax transparency code that will between funds in the $2 trillion nest egg sector. There can be no middle ground on scrub- lead to more big businesses, particularly bing out worker exploitation says Adele multinationals, releasing detailed information Speaking at the Financial Services Council yester- Ferguson, columnist for The Age about the tax they pay. Aldi has yet to signup day, Australian Prudential Regulation Authority to the Voluntary Tax Transparency Code, which deputy chairman Helen Rowell also hit out at the Greyhound Ban Produce Industry Fears targets more than 1500 businesses with turnover lack of transparency over fees and costs in many Animal-related industries are on high alert of $100 million and follows public anger of a parts of the super industry and said the regulator after the Baird government’s decision to outlaw large multinational is engaging in aggressive was attempting to get access to even more fund greyhound racing in NSW, and peak bodies tax avoidance, as reported in The Age. information, as reported in the Financial Review. say the same scrutiny applied to dog racing is rippling across other sectors. Agriculture and Emergency Policy Only for Extreme Australians’ Trust Issues With Banks food production faces the challenge of dealing Market Shocks Greg Medcraft, the nation’s top corporate cop, has with community expectations regarding Emergency policy measures studied by the put banks’ senior executives on notice to ensure animal welfare that have increased signifi- Reserve Bank of Australia would only be needed efforts to improve culture and conduct do not cantly in the past decade, National Farmers if China’s financial system collapsed or similarly become ‘white noise’ for staff below them, saying Federation chief executive Tony Mahar said. dramatic event seized up global markets, says the regulator will continue to uncover wrongdoings a leading expert. Perpetual Investment’s head and is not intimidated by the financial might. Livestock industries including meat production of investment strategy Matt Sherwood said coming under pressure to stamp out practices such At the release of the damning study revealing simmering geopolitical tensions, even if they hit as mulesing, some old methods of shearing and a Australians’ poor view on banks’ ethics, Australia growth in Australia, wouldn’t be enough to force live export have resulted in reforms throughout Securities & Investments Commission chairman the RBA’s hand. Quantitative easing (QE) – central the industry, as reported in The Australian. Mr Medcraft said recent scandals have clearly bank bond-buying to stabilise long-term rates combined to ‘fundamentally undermined A Matter of Fair Work and push money into other assets – would only investor trust and confidence’ in the banks. The Australian says the independent Fair Work help if the world had another huge financial crisis, Commission is reviewing penalty rates in seven according to The Australian Financial Review. Reform Requires Rethink awards in the hospitality and retail sectors as Small businesses fear they could be the next target Big Four Prevent Stimulus part of the four-yearly review of modern awards of bad financial advice and predatory lending The big banks have defied the reserve bank, under the Fair Work Act introduced by Labor under the proposed low-regulation scheme passing on barely half of the cut in the official in 2009. The FWC decision is binding by law. for start-ups. The scheme, being considered by benchmark cash rate to their home mortgage the corporate watchdog, would allow financial The Productivity Commission recommended cut- and business borrowers, reducing the stimulus services start-ups to operate unlicensed for 6 ting Sunday penalty rates to match Saturday rates. that the central bank was trying to inject months in the name of supporting innovation. into the economy in favor of supporting their Employers in some sectors want Sunday penalty own profits, as reported in The Australian. Peter Strong, chief executive of the Council of rates to be cut from 200% to 150% and public Small-Business Australia, said he was concerned holiday penalties from 250% to 200%. ACCC Gives All Clear For Port Lease small businesses could fall victim to the same Australia’s competition watchdog has given Unions want to maintain the status quo. financial scandals as consumers had fallen the green light to two major bids to lease the pray to in recent years, as reported in The Age. Haunted by the damage it sustained after its Port of Melbourne 50 years. Two consortia Work Choices policy the Coalition declined for the lease were probed by the Australian Water Price Rise to make a submission to the FWC. Competition and Consumer Commission The price of water for 4 million Sydneysiders could because of their interests in other Australian be about to rise because of a last-minute rule Labor’s submission argued against cutting penalty ports. ‘The ACCC has formed the view that neither change by the Liberal government that helped it rates. Labor will be under pressure to fight any acquisition would result in substantial lessening raise more from that $2.3 billion privatisation of cuts to penalty rates, even if that is the outcome of of competition,’ ACCC chairman Ron Sims said. the Sydney Desalination Plant (SDP) in 2012. The the ‘independent’ process it established. The LNP arrangement comes to light as Rod Sims, chairman state executive has voted on a motion to formally The IFM consortium is led by Australian fund of the Australian Competition and Consumer assess a proposed split amid anger it’s MPs and manager IFM Investors, along with a Dutch Commission, has called for a halt to privatisations senators are proportionally under-represented pension fund manager and a division of Macquarie on the grounds that governments are increasingly on the Turnbull government frontbench. Group Limited. The QIC consortium includes running them to maximise proceeds to the state a 40 per cent interest from a fund manager ‘It is life or death for Barnaby,’ one said. Under the budget even if it increases prices for consumers. owned by the Queensland Government. Sims plan, the LNP would establish a separate party said no single consortium member would The SDP at Kurnell on Botany Bay has never room in Canberra and strike a second Coalition control the port, as reported in the Herald Sun. actually pumped any drinking water but agreement with the Liberal Party with demands Sydneysiders pay about $200 million a year to SDP for more frontbenchers from their ranks. The LNP Tough Choices To Reduce Deficit to keep the plant on stand-by in case of drought. A is also divided on government plans on superan- Reserve Bank governor Glenn Stevens says consortium led by the Ontario Teachers Pension nuation and the backpacker tax, which could also Australians are ‘kidding ourselves’ if they think Board bought the plant in May 2012 for $2.3 billion, form part of negotiations, as per The Australian the federal budget can be returned to surplus as reported in The Australian Financial Review. without having to make tough choices. While Unions Win Breakthrough Australia agreed on the need to close the deficit, Properties Could Flood the Market Unions have won an important breakthrough in the concrete ideas got bogged down in debates The Reserve Bank has issued a fresh warning farm sector, with Australia’s biggest horticulture based on ‘narrow notions of fairness’ run by that developers may be sitting on a flood of producer forced to the bargaining table. The agri- interest groups looking to protect their patch. apartments that fail to settle flagging that culture and horticulture industry is rife with worker the property supply glut will worsen, given exploitation, illegal underpayment and poor work- ‘If we think this rather other-worldly discussion that developments already under way are still ing conditions. Unions attract few members and will not have to give way to more hard-nosed running near record highs despite efforts to have barely had a presence since the 1970s. Costa conversation, we are kidding ourselves,’ Mr cool the market. The comments came as the Group, a big supplier to Coles and Woolworths, has Stevens said. ‘That will care should there be central bank gave it strongest indication yet that consistently resisted a National Union of Workers a moment of crisis, but it would be better if it the cash rate would move closer to 1 per cent push for a union agreement at its tomato business occurred before then.’ Mr Stevens leaves the signalling that another cut could be on the cards in Guyra, in northern NSW, as reported in The Age RBA in September, as reported in the Herald Sun. this year, as reported in The Weekend Australian. 8
19 July to 25 August 2016 Big Business Bullies in to work with China to educate suppliers about billion ‘nation-changing project’ unveiled by the More than 5560 small businesses have complained Australian laws, as reported in The Australian. high-powered Melbourne-based Consolidated to the competition watchdog in the first half Land and Rail Australia. The plan is backed by FIRB Ministerial Shakeup of year, many directory gripes towards top former Victorian premier Steve Bracks, outgoing Malcolm Turnbull’s government has come up end of town. The proportion of complaints has federal trade and investment minister Andrew with new ministerial arrangements are handling risen in the previous six months, up from 4931, Robb and former NSW premier Barry O’Farrell. FIRB decisions. Treasurer Scott Morrison Will the Australian Competition and Consumer continue to take carriage of all the big and Not Enough Investment Commission figures revealed. The six-monthly potentially politically hot transactions - NSW Australia is already forgoing billions of dollars Small Business and Focus report, released poles and wires top the lists, and with the likes in potential productivity gains after investing yesterday, showed the biggest numbers of of the Port of Melbourne coming down the line too little in key projects, the Committee for complaints, at 1435, related to misleading conduct the Kidman pastoral sale bubbling along. Economic Development of Australia says. And and false representations from big businesses. the damage bill will blow out to more than $50 ScoMo’s Fellow Cabinet member, Revenue ACCC deputy chairman Michael Schaper said the billion a year in 15 years if crucial infrastructure and Financial Services Minister Kelly O’Dwyer, increase in complaints was ‘incremental but sub- projects in major cities do not go ahead, the Will have it pared-back suite of F IRB duties, stantial’. Complaints also related to product safety, committee says, as reported in the Herald Sun looking after agriculture, well the Nationals’ consumer guarantees and unconscionable conduct. Michael McCormack, who is Small Business Qube Getting Asciano Misuse of power was cited in 197 grievances. Minister (and fully occupied with the Census Asciano’s decision to hand its share of the portside However, the ACCC said not all instances lead to debacle), Will handle everything else. logistics business ACFS back to its business partner breaches or investigations. ‘We’re continuing to has cleared one of the last remaining hurdles see in increasing number of contacts from the China Shut Out of Electricity Grids to the $12 billion takeover of the ports and rail Australian small and medium enterprise sector’ Scott Morrison’s decision to block two group with the competition watchdog dismissing Dr Schaper said, as reported in the Herald Sun. Chinese bids for NSW’s electricity assets on concerns about the deal. Qube Holdings and an national security grounds has cast a shadow Qantas’ New Coat of Paint international group of investors are on track to over Australia’s relationship with its biggest Qantas’s freshly painted freight network has taken complete the acquisition next month following trading partner and the prospects for foreign to the skies to deliver domestic mail, parcels and a recommendation from the Foreign Investment investment in critical infrastructure. Express Post for Australia Post and its subsidiary Review Board due next week and a court hearing. StarTrack. The dedicated sub-fleet of six freighter Treasurer said the foreign investment rejection was The Australian Competition and Consumer aircraft — which now feature StarTrack-branded a preliminary decision and he gave the two bidders Commission ruling comes more than a year livery — began flying to nine destinations exclu- - the publicly listed Hong Kong business Cheong after Brookfield Infrastructure Partners kicked sively for the Australia Post Group. The Australian Kong Infrastructure , CKI, and China’s govern- off a race to buy one of Australia’s biggest ment-owned State Grid – seven days to amend their Innovation in Fintech is Key infrastructure operators — and a series of ACCC offers for Ausgrid, which owns the electricity grid Fintech leaders have urged the new-look federal inquiries — before partnering with its rivals and from Sydney to Newcastle and the Hunter Valley. ministry to continue with the government’s close the deal, as reported in The Australian pre—election push on policies to create a Controversy over Ausgrid NAB Cuts Commission Rates thriving fintech ecosystem that will help grow The preliminary decision, which won broad domes- National Australia Bank’s $45 billion financial financial services exports to Asia and create tic political support the cast a cloud over the NSW advice arm to the wealthy, JBWere, has cut commis- more competition for incumbent banks. Ben governments budget plans, left the Hong Kong sion rates for its 120 advisers, becoming the latest Heap, the founding partner of fintech incubator bidder fuming and sparked fierce criticism over major player to overhaul remuneration as the and investor H2 Ventures, said the narrow what was underpinning foreign investment policy. industry strives for sustainable profitability. Less margin in the election highlighted challenges Mr Morrison announced a preliminary decision than a month after Morgan Stanley’s pay changes, selling the innovation message to voters fretting to veto bids by both companies for a 50.4 per JBWere will slice advisers’ ‘grid’ rate cut by up to 1.5 about the impact of technology on their jobs cent stake in Ausgrid worth more than $10 billion per cent and also retain a ‘small’ portion of revenue saying they were ‘contrary to the national interest’, But he said encouraging innovation remains from clients referred by NAB. The Australian as reported in The Australian Financial Review. crucial to refrain the Australian economy ‘and for Smart Cars on Smart Roads us to take a step backward due to machinations Revamp for PM’s Former Invesment All vehicles on Australian roads will be driverless by of our political system would be disaster’, as Malcolm Turnbull’s most contentious investment, 2030 and road builders must begin work to create reported in The Australian Financial Review a failed sports media company that lost almost smart roads that interact with them, says Telstra $100 million conflict-of-interest row over online Wrong Investment chief scientist Hugh Bradlow. Dr Bradlow said his gambling, has come back to life. PlayUP, the sports There is more than enough money in Australia’s conservative and realistic forecast was based on start-up Mr Turnbull helped bankroll in 2012, went multi-trillion-dollar superannuation funds to the rate of autonomous car development, where 14 into liquidation in February. It is to be relaunched invest in start-ups and entrepreneurship, but trials were under way in California, and falling costs this year. The key feature will be sports gambling it is being deployed wrong, says Australian of retrofitting driverless systems to existing cars, licensed by the embattled Norfolk Island Gaming National University Vice Chancellor Brian which would soon be in the $US1000 ($1310) range. Authority. While the Prime Minister will not have Schmidt, as reported in The Australian. a stake in the new-look PlayUP, it is likely to be an ‘My expectation is that governments will very Foreign Bid For Ausgrid Denied unwelcome reminder of one of his more trouble- quickly realise that they need to make them Federal Treasurer Scott Morrison has blocked some business forays, as reported in The Age. mandatory to help overcome the statistic that 90 the NSW governments planned sale of electricity per cent of road accidents are caused by human High Speed Rail at Last? distributor Ausgrid to foreign companies, citing error,’’ he said, as reported The Australian A high speed rail plan would see a Melbourne national security issues, in a preliminary decision Sydney journey time of less than two hours via RBA Cuts Rates that could have broader implications for foreign eight new inland cities. The new cities including The Reserve Bank of Australia lowered the cash investment in Australia, as reported in The Age. two in Victoria would be high-tech centres, rate by 25 basis points to a fresh record low of 1.50 Asbestos Slipping Through The Cracks creating jobs and easing pressure on overcrowded per cent during the meeting held on 2nd August. It Companies importing goods riddled with deadly suburbs in the nation’s two biggest centres, says was the second rate cut so far this year prompted asbestos are not being fully investigated by the consortium behind the plan. The Herald Sun by weak inflation numbers, as reported in The Age Austrian Border Force due to ‘time and resources’ reports the first new Victorian city, planned for the Smart Road Technology is the constraints and the uncertainty of prosecution, a Greater Shepparton region would be less than 30 future of collision avoidance review Of Australia’s asbestos border controls has minutes from Melbourne on the high speed line. Future ‘smart road’ technology will virtually found. Amid revelations that authorities have The second city would be in the shire of Strathbogie. be able to predict the likelihood of an prosecuted only two companies for importing Over the next 35 years, the eight cities of up to accident 30 minutes before it happens, asbestos since 2008, the report calls on the Federal 200,000 homes would accommodate a quarter CityLink owner Transurban has said. government to more forcefully pursue the offence of Australia’s population growth, under the $200 9
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