Banks Will Have To Appear Before House Economics Committee Say Turnbull And Morrison

Australian Banks will have to appear once a year before the Economics Committee of the Parliament, under plans announced today by Prime Minister Malcolm Turnbull.

Turnbull and Treasurer Scott Morrison held a joint press conference to outline the plan. Turnbull said the banks “operate under a social licence from the Australian people”. Built on a foundation of trust, “they have to earn that trust through being open and accountable at all times,” Turnbull said.

The heads of the four major banks will be required to appear before the House of Representative Standing Committee on Economics. Morrison said this was “in the same way that the Reserve Bank and APRA currently appear before the committee on a regular basis”. [Read more…]


Liberal Party Free Time Advertisements: 2016 Federal Election

These are four freetime advertisements for the Liberal Party, broadcast on ABC television.

The advertisements feature Prime Minister Malcolm Turnbull, Foreign Minister Julie Bishop and Treasurer Scott Morrison.

The Australian Broadcasting Corporation is statutorily obliged to provide free radio and television time to the major political parties during elections. [Read more…]


Treasurers Debate: Scott Morrison And Chris Bowen At The National Press Club

Scott Morrison and Chris Bowen have met in a Treasurers Debate at the National Press Club.

The debate came at the end of a week in which the government has sought to focus attention on ALP costings in the election campaign.

Scott Morrison has been Treasurer since last September, when Malcolm Turnbull overthrew Tony Abbott as prime minister. Chris Bowen, a minister in the Rudd and Gillard governments, was briefly Treasurer in the second Rudd government in 2013. [Read more…]


Scott Morrison Budget Speech 2016-17

The Treasurer, Scott Morrison, has delivered the 2016-17 Budget Speech, his first for the Turnbull coalition government.

The Budget forecasts a deficit for 2016-17 of $37.1 billion, falling to $6 billion in 2019-20.
It tightens superannuation concessions and introduces a new Youth Employment Package with internships and wage subsidies for business.

The Budget cuts company tax for small business and raises the personal income tax threshold of $80,000 to $87,0000.

The full text of the Budget is shown below, with complete audio and video.

Documents

Download the Budget documents (PDF).

  • Listen to Morrison’s Budget Speech (31m)
  • Watch Morrison (31m)

Hansard transcript of Scott Morrison’s Budget Speech.

Appropriation Bill (No. 1) 2016-2017 [Read more…]


Joe Hockey (Lib – North Sydney) – Valedictory Speech

The former Treasurer, Joe Hockey, has delivered his valedictory speech to the House of Representatives.

Hockey

Hockey will resign this week and is expected to be appointed Australian Ambassador to the United States, replacing former ALP leader Kim Beazley. [Read more…]


First Turnbull Ministry Announced; More Women Into Cabinet, Abbott Supporters Axed

Malcolm Turnbull has announced the composition of his ministry, five days after being sworn in as prime minister.

As expected, Joe Hockey has been replaced as Treasurer by Scott Morrison. Hockey is expected to be appointed Ambassador to the United States, replacing former Labor leader Kim Beazley in the new year.

Five women will be in the Cabinet, an increase of three. Senator Maris Payne becomes Defence Minister, whilst Senator Michaelia Cash will be the Minister for Women. They will be joined by Kelly O’Dwyer as Assistant Treasurer and Minister for Small Business.

Turnbull has sacked a number of Abbott supporters. The most prominent casualties are Defence Minister Kevin Andrews and the Senate leader and Workplace Relations Minister Eric Abetz.

Small Business Minister Bruce Billson has been left out of the ministry, as has Industry Minister Ian Macfarlane. The Special Minister of State, Senator Michael Ronaldson, has also been dropped.

This is the official list of ministers released by the Prime Minister’s office:

15-09-20_first-turnbull-ministry


Morrison Announces Tamil Asylum Seekers Will Be Brought To Mainland For Processing

The Minister for Immigration and Border Protection, Scott Morrison, has announced that the government will bring 157 Tamil asylum seekers to the Australian mainland for processing.

Morrison

The Tamils have been on an Australian customs vessel in the Indian Ocean since last month. The High Court ruled that they could not be handed over to Sri Lankan officials. [Read more…]