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  • Australian Election | Business Spectator
    HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Australian Election Abbott s deadly dilemma on electoral reform Tony Abbott finds himself in a tug of war between keeping the minor party dominated Senate pushing through his policies and implementing genuine electoral reforms to prevent the gaming of preferences by Rob Burgess 8 19am January 08 75 comments A hideous beast awaits Abbott s return Tony Abbott could find his weak grasp on the upper house slip through his fingers if the steep post election drop in Coalition support out West is carried into a Senate re run by Rob Burgess 8 22am January 07 63 comments Abbott s friendly Senate hangs in the balance Even after the Western Australian recount six right wing non major parties still hold the balance of power in the Senate But the impending High Court challenge could change all that by Robert Gottliebsen 7 03am December 18 31 comments Income tax has to go up The Coalition has made little headway in cleaning up Labor s structural deficit and nipping and tucking the budget won t offset election spending commitments by Alan Kohler 8 14am December 16 218 comments Abbott s nightmare is unfolding in WA Tony Abbott is likely sweating bullets with the threat of a new half Senate election in Western Australia It could cost him his friendly Senate and derail the carbon tax repeal by Rob Burgess 9 08am December 10 44 comments Inquiry to look at e voting Senate voting changes also on the agenda in election review 11 49pm December 09 3 comments ALP warned on insolvency report Expensive campaigns have left Labor with very few assets left to borrow against 5 47am November 12 25 comments Labor will make comeback Howard Former Liberal PM warns his party not to take Labor s loss for granted 7 35am October 23 8 comments Bryce offered Abbott resignation PM says he denied Governor General s offer to quit ahead of ALP ballot 6 12am October 14 1 comment Muir Palmer in Senate alliance PUP Motoring Enthusiasts to vote together WA senate recount ordered 11 54am October 10 Shorten expected to win Labor race Despite grassroots support for Albanese Shorten seen winning Labor caucus 3 46am October 10 4 comments Abbott has won control of the Senate Australia will now see its most stable government in a decade with the six independent and minor party senators who hold the balance of power overwhelmingly in favour of Coalition policy by Robert Gottliebsen 7 41am October 09 69 comments Brandis to repay travel expenses AG to pay back 1700 in expenses he claimed to travel to shock jock s wedding 6 58am September 30 6 comments Palmer on track to

    Original URL path: http://www.businessspectator.com.au/politics/election?destination=taxonomy/term/2984 (2014-01-12)
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  • Hockey defends MYEFO forecasts | Business Spectator
    suggestions he padded numbers to bolster case for cuts You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Treasurer Joe Hockey has rejected suggestions he padded economic forecasts to paint a bleak picture of the federal budget and bolster his case for tough spending cuts Growth forecasts for the next two years are well below the long run average and at the lower end of economists predictions Unemployment expectations are for a 6 per cent jobless rate by the middle of 2014 and just above that for the forseeable future Labor has accused the treasurer of softening up voters for deep and brutal cuts in the May budget Not at all not at all Mr Hockey told ABC Radio on Wednesday a day after releasing the Mid Year Economic and Fiscal Outlook You could not have forecasts that dropped the unemployment rate from 6 25 per cent to 5 per cent in one year with 3 per cent growth he said It s just nonsensical in that sort of circumstance Mr Hockey said Labor had massaged forecasts for unemployment to unreal levels That had allowed the previous government to forecast a return to surplus in 2017 17 Mr Hockey also rejected calls for new taxes or tax increases to bring the budget under control The coalition was not going to do what Labor did and take a baseball bat to confidence in the economy he said Instead the government would address the root cause by cutting expenditure Print this page Related articles 17 Dec Joe needs a revenue Hockey stick 17 Dec ALP warns of more cuts business urges reform 17 Dec Govt confirms car funding cuts 17 Dec Shorten urges govt on MYEFO motor support 17 Dec Defence project may need 1bn bailout More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Steven lastName Wed 2013 12 18 10 26 The simple fact is that the picture is bleak and deep and brutal budget cuts are required The labor party who caused this problem due to years of spending like there was no tomorrow should all just shut their worthless mouths Rau lastname Thu 2013 12 19 09 32 Easy to say Where would you cut Do you seen any need to up personal taxes given they have been reduced regularly over the last decade Brent Mitchell Wed 2013 12 18 12 04 The coalition was not going to do what Labor did and take a baseball bat to confidence in

    Original URL path: http://www.businessspectator.com.au/news/2013/12/18/federal-budget/hockey-defends-myefo-forecasts (2014-01-12)
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  • ALP warns of more cuts, business urges reform | Business Spectator
    books and said all options are on the table in terms of making savings to put the budget back into the black in the long term Mr Bowen said the treasurer could have outlined the pathway back to a surplus Joe Hockey is softening up the Australian people Mr Bowen said He is preparing the ground for deep and brutal cuts come budget time cuts that will affect all Australians Mr Bowen said 10 2 billion of the 17 billion blow out in the deficit was due to Abbott government decisions since the September election He might want to accept that he is treasurer of Australia now the former Labor treasurer said Budget update a wake up call business Business groups hope the mid year budget update will be a wake up call to the Abbott government to deal with the challenges it now faces Business Council of Australia chief executive Jennifer Westacott said the government faces a decade of committed reform to put the budget on a more sustainable footing MYEFO shows Australia faces a decade of deficits if the federal government does not begin to correct the excessive spending that has left the fiscal position weaker than it should be and exposed to future global economic volatility she said in a statement She said a disciplined 2014 15 budget that included structural measures to contain government expenditure over time needs to be matched by greater efforts to boost economic growth and productive capacity to greatly assist the budget repair job The ongoing weakness of revenues also highlights the critical role that tax reform will need to play both in shoring up the strength of the revenue base and increasing efficiency to drive economic growth she said Welfare groups believe the government must align social and economic goals UnitingCare Australia national director Lin Hatfield Dodds says the political debate has become locked into rhetoric about debt and deficit rather than having smart evidence based debates about effective public policy and improving the quality of life of all Australians Current policy debt is thin impoverishing us all she said in a statement Achieving a better balance will require collecting more tax and could be achieved by winding back inefficient and unfair tax concessions Australian Chamber of Commerce and Industry chief executive Peter Anderson said MYEFO showed there were no pain free options to build a stronger economy over the next decade This budget deterioration makes the work of the Commission of Audit a national priority especially if it undertakes a root and branch review of government spending duplication of services and idle or underperforming assets He said that with industrialised governments mired in debt and deficit only private sector growth and prosperity can retain living standards so reform that gives private sector incentive to invest and grow is needed Ratings agency Moody s said the projections were worse than they expected in terms of the fiscal and debt positions However as Moody s have always said the Australian government has

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/federal-budget/alp-warns-more-cuts-business-urges-reform (2014-01-12)
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  • Govt confirms car funding cuts | Business Spectator
    Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Govt confirms car funding cuts 17 Dec 2013 12 46 PM Politics Federal Budget Industries Automotive MYEFO confirms cut in assistance to automotive industry from FY2015 You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP The federal government will start cutting assistance to the car industry from 2014 15 but says enough will remain to support investment The Mid Year Economic and Fiscal Outlook released today confirmed a 500 million cut to the automotive transformation scheme over four years But the government says 1 3 billion will remain available over eight years Print this page Related articles 12 Jan Toyota to produce 10 million cars 10 Jan Volvo Cars sales up in 2013 08 Jan GM asked to give up Holden 08 Jan SA to meet social cost of Holden closure 07 Jan Champ Ventures plans SG Fleet IPO in Q1 More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/automotive/govt-confirms-car-funding-cuts (2014-01-12)
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  • Shorten urges govt on MYEFO motor support | Business Spectator
    a staff reporter The federal opposition says the Abbott government should take responsibility for fixing the budget and announce a support package for car industry workers as the coalition prepares to blame Labor for a massive forecast deficit The mid year economic and fiscal outlook MYEFO today will show deficits totalling more than 120 billion over the next four years starting with a figure close to 50 billion in 2013 14 The blame will be pinned on past Labor governments but opposition leader Bill Shorten says the coalition is now in charge and should start running the country The problem for the Abbott government is that the music has stopped he told ABC Radio How long can they go on blaming everyone else In a statement Mr Shorten and shadow industry minister Kim Carr said if the government did not announce a support package for Holden workers and the car industry as part of MYEFO it would not be funded and would leave thousands of workers and businesses in the lurch The prime minister must immediately announce a fully funded comprehensive support package which recognises the effects on the supply chain and the communities around Holden s two plants they said The Abbott government is ripping away at least 500 million in support for the car industry Federal Labor is calling on the Abbott government to act swiftly and decisively to mitigate the damaging economic and social consequences of the closure of Holden s manufacturing operations in Australia A full and comprehensive package must be part of today s MYEFO and it must be implemented immediately to give workers and suppliers adequate time to retool retrain and seek alternative employment The coalition will hone in on Labor s spending record revealing annual spending rose in the five years to 2012 13 to an average 3 5 per cent outstripping the two per cent limit often promised But the opposition says Treasurer Joe Hockey is trying to hide the 20 billion in spending since the election and the fact it s no longer on track to deliver a surplus for 2016 17 Mr Shorten said the first 100 days of the Abbott government had not gone smoothly and now they were trying to blame everyone else but themselves They could find significant budget savings by scrapping plans for the white elephant paid parental leave scheme he added They should be honest enough to admit that their 22 billion paid parental leave scheme is a joke and Australia can t afford it Mr Shorten said Print this page Related articles 18 Dec Hockey defends MYEFO forecasts 17 Dec Joe needs a revenue Hockey stick 17 Dec ALP warns of more cuts business urges reform 17 Dec Govt confirms car funding cuts 17 Dec Defence project may need 1bn bailout More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/federal-budget/shorten-urges-govt-myefo-motor-support (2014-01-12)
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  • Defence project may need $1bn bailout | Business Spectator
    Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Defence project may need 1bn bailout 17 Dec 2013 7 25 AM 6 Politics Federal Budget National Affairs Industries Manufacturing Govt may have to inject cash into nation s largest defence project report You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The nation s largest defence project is facing a major budget blowout that could force a federal government bailout worth around 1 billion according to The Australian The construction of three Air Warfare Destroyers for 8 billion is reportedly being hit by budget overruns of around 10 million a month with an Australian National Audit Office report due out today to show the project was 106 million over its 618 million budget for 2012 13 Emergency reserve funds are at risk of being tapped out potentially leaving the government to fund a 1 billion rescue package to ensure all three warships get built The Australian reported The report suggested the delivery date of the warships which has previously been stretched by two years will be pushed back again The news comes as the federal government prepares to hand down its Mid Year Economic and Fiscal Outlook MYEFO which is expected to show a blowout in this year s projected deficit to 50 billion It also follows discussions of bailouts at Qantas Airways and Holden with the budget position seen as part of the reason for the government deciding to keep a tight hold on the purse strings Print this page Related articles 13 Jan Govt interest bills surging report 13 Jan Abbott to pursue red tape cuts 13 Jan Palmer wants to repeal Newman laws 12 Jan Vic energy minister to step down 12 Jan Trade pact is close Robb More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Doug DJ LoneRider Tue 2013 12 17 09 13 Yep the war god has returned to Canberra Graham Middleton Tue 2013 12 17 11 19 We could have bought Arleigh Burke class air warfare destroyers already well proven at a better price from the USA but mess around with an Australian version of a Spanish cut down version with the US sourced Aegis air defence system then get surprised when cost overruns occur richard mcnaught Wed 2013 12 18 10 40 Why do we even need these warships Our only threat is from fishing boats If we learnt to stay out of conflicts that the US starts we could enjoy

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/national-affairs/defence-project-may-need-1bn-bailout (2014-01-12)
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  • Govt spending to blame for deficit: Bowen | Business Spectator
    Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Govt spending to blame for deficit Bowen 16 Dec 2013 1 13 PM 4 Politics Federal Budget Shadow treasurer says expected 50bn deficit due to govt spending You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Shadow treasurer Chris Bowen says the federal government needs to acknowledge that its post election spending promises are blowing out the budget Treasurer Joe Hockey is expected to unveil a 2013 14 budget deficit of just under 50 billion when he releases the mid year economic and fiscal outlook in Canberra on Tuesday Treasury s independent pre election budget update released in August during the election campaign showed the deficit on track for 30 1 billion That figure was fully acknowledged by Labor Mr Bowen said Every dollar above that Joe Hockey has to take responsibility for he told reporters in Sydney on Monday The treasurer had yet to justify why he gave the Reserve Bank 8 8 billion to top up its reserve funds Mr Bowen said Added to that was 3 billion in tax breaks changes to superannuation and a range of spending promises The surplus appeared to be going the way of the Gonski school funding reforms the national broadband network and and buying asylum seeker boats Mr Bowen said Saying one thing before the election and doing something very very different after The Australian people were entitled to conclude the promise to return the budget to surplus and pay down debt was a lie Labor would not give the government any blank cheques if it needed legislation to increase revenue Mr Bowen said Print this page Related articles 13 Jan Iran nuke deal to take effect 13 Jan Govt interest bills surging report 13 Jan Abbott to pursue red tape cuts 13 Jan Palmer wants to repeal Newman laws 12 Jan Israel s Sharon dead at 85 More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Graeme Organ Mon 2013 12 16 14 21 Pot and kettle speck and log come to mind Graham Middleton Mon 2013 12 16 14 38 A Gillard Rudd minister is in no position to lecture anyone on debt Steven lastName Mon 2013 12 16 16 08 Considering the unbelievable damage

    Original URL path: http://www.businessspectator.com.au/news/2013/12/16/politics/govt-spending-blame-deficit-bowen (2014-01-12)
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  • Tighter budget rules needed: CIS | Business Spectator
    become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Tighter budget rules needed CIS 12 Dec 2013 2 02 AM Politics Federal Budget Think tank calls for independent fiscal commission to replace PBO You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The Parliamentary Budget Office should be replaced by an independent fiscal commission to prevent a future budget crisis a conservative think tanks says As Treasurer Joe Hockey prepares to hand down the mid year budget review the Centre for Independent Studies has called for a new body to assume responsibility for formulating the budget s fiscal and economic parameters It would provide the frame for the government s tax and spending decisions and impose financial penalties on politicians should the new fiscal rules be breached Strengthening our fiscal institutions and implementing legislated fiscal rules would leave us in a better position to address the budget deficit and the long term challenges Australia faces such as an ageing population CIS research fellow Stephen Kirchner said on Thursday He said under the current Charter of Budget Honesty commitments by politicians are far too easily abandoned or relaxed which has allowed the budget to slip into a state of disrepair An independent fiscal commission would enforce legislated fiscal rules including limits of budget balance net debt revenue and spending as a share of GDP and a rule limiting real growth in spending Dr Kirchner said in a statement In the event one of these fiscal rules being broken the pay of all MPs would be reduced by one per cent for every percentage point breached and over the duration of that breach The

    Original URL path: http://www.businessspectator.com.au/news/2013/12/12/federal-budget/tighter-budget-rules-needed-cis (2014-01-12)
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