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Essential: 52-48 to Labor

April 9, 2019 - 11:00 -- Admin

From The Guardian: Voters are broadly positive about the Morrison government’s budget according to the latest Guardian Essential poll, but 61% say it will make no difference to their vote and the government remains in the same position as it was a fortnight ago – trailing Labor, with an election in sight. The latest survey of

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Inequitable Coalition tax cuts to blow $30b budget hole

April 9, 2019 - 10:45 -- Admin

By Leith van Onselen The Australia Institute (TAI) has released analysis of the Morrison Government’s tax cut package, which reveals that they will make Australia’s tax system far less progressive with benefits flowing overwhelmingly to higher income earners: The centrepiece of this budget is large income tax cut that builds on the large income tax

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Consumers give Budget the bird

April 9, 2019 - 10:35 -- Admin

Via ANZ weekly consumer confidence: The fall in confidence last week would be seen as disappointing in Canberra given the near-term boost to household incomes delivered in the Budget. Given the usual volatility in the weekly data, we don’t believe the decline indicates a negative response to the Budget. Rather, it suggests the announcements failed

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“Crazy” that fruit pickers should get paid overtime

April 9, 2019 - 10:30 -- Admin

By Leith van Onselen Australia’s migrant slave economy has been exposed again, with farmers labelling “outrageous” a Fair Work Commission (FWC) ruling that fruit pickers should be entitled to overtime if they work excessive hours. From The ABC: One of Australia’s biggest fruit producers says a ruling this week by the Fair Work Commission is

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EV debate shorts out

April 9, 2019 - 10:15 -- Admin

Crikey sums it up: Taylor far from electrifying. There was considerable fun to be had on the weekend with the government’s and News Corp’s attempts to attack Labor’s electric car plan. Bill Shorten’s claim that electric cars could be charged in 10 minutes was seized on by News Corp to attack him, while Scott Morrison accused Shorten of wanting

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A little life in mortgages?

April 9, 2019 - 10:00 -- Admin

Via CoreLogic’s weekly update comes the leading mortgage index: Normally by now we would see a stronger winter pullback which means the year on year falls have diminished a little. Hardly convincing but a little flotsam for a drowning man to cling to. Listings are still high: If the RBA does not move mid-year then

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Macro Morning

April 9, 2019 - 09:30 -- Admin

By Chris Becker  Volatility was subdued on overnight markets with the lack of any real news apart from growing instability in Libya which saw oil prices spike, while the USD retreated slightly alongside US Treasuries. With a Brexit deadline stretched further and no news = no volatility, Pound Sterling was largely unmoved, although Euro pipped

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LNP on suicide watch as it mulls Adani approval

April 9, 2019 - 09:30 -- Admin

Via the AFR comes LNP suicide watch as it mulls a pre-election Adani approval: …Queensland Coalition MPs believe Ms Price has yet to sign off on an approval, already granted by her department, due to pressure from Liberal Deputy Leader Josh Frydenberg, who faces a challenge in his seat of Kooyong, as well as other

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Betting markets have Labor unbackable favourite

April 9, 2019 - 09:15 -- Admin

Like, super long, via Mark the Ballot: I spent a little time this weekend looking at the seat betting markets from sportsbet, which I will be following until the Federal election. Because bookmakers set the odds at prices that ensure they cover their liabilities regardless of who wins (with thanks to the bookmakers‘ over-round or “vigorish”), the

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