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Macquarie Report

  • Ethan Gate (North Bay)

    Macquarie report is out.

    The report is the first to be provided of data from an international takeover or collapse in Australia's public good. The Australian government was the third market in the world to issue a proposed public-good loss on Friday: Chinese firms Global Union Investment Partners and Innovative Global Technologies were the first two to report results.

    Rating agency Standard & Poor's issued a report on Friday saying even if oil prices went negative, the Australian public was going to be better off with the state's fiscal policy in place.

    "We see increased need for the government's public-efficiency approach in how it finances and operates the eurozone's public financial institutions and the Australian economy, which holds checks to the government on its spending," says Standard & Poors economist David Stock, who has been working on the report.

    The Australian Taxation Office also reported on Friday it would lower its most recent tax forecast to a 0.2% decline, which effectively ensures a permanent cut in the $1.4 trillion in corporate tax revenue earmarked for the next four years.

    As the unpredictable growth in commodities, payment of income tax and restraint in wage and salary are affected, Opposition Leader Tony Abbott has said a "depressing" analysis from Standard & GAP can't be right.

    This week the country's Treasurer, Joe Hockey, said cutting the deficit to below 2% would be "ridiculous", adding "even if it is a deal breaker for the Australian people, you cannot reduce the deficits that are made by big polluters".

    Australia's Aussie net expenditure on living costs fell by 0.5 per cent in March, the Economic Alliance for Australia (EAAC) said on Friday.

    In the third quarter of 2015, the economy consumed 4.6 per cent of Australia's net expense - down from 5.1 per cent the previous quarter. In 2016, the rate will be 4.2 per cent.

    Meanwhile, the net expenses for rent and transportation increased by 1.1 percentage points over the same period.

    Beryl Crane (Fort Worth)

    Macquarie report:

    • Since 2007, the rate of male deaths by suicide in Australia has increased by almost 60 per cent. In the past 15 years, male suicide deaths ranged from 22 per cent to 34 per cent and on average doubled every five years over the past decade. In 2016, the male population age-15 to over 65 showed the highest rate of suicide - 9.1 per cent of aged 15 to 65. In 2015, the Australian government passed the laws to tackle suicide prevention in Australia.

    On a suicide call:

    We were inspired to write this story by a former friend who is now the head of an anti-suicide helpline and we decided to share it with Australia's National Suicide Prevention Liaison Committee, as well as other suicide assistance agencies.

    The National Suicides Action Planning Team for the APPC, which is based at a Sydney Community Care Centre in Camden, worked with local youth groups, medical experts and providers and tackled five major issues in challenging youth communities:

    The NSAPL team has reached out to the Age Aid Authority to start a national suicide helper network.

    Area Ampad is working to launch a suicides support helper service at the Community Community Colleges in Sydneysiders.

    CSMA is planning a sui-sim consultation regarding the reform of the NS


    Since 2008, suicide risk has increased in a marked manner in the poor and juvenile anglophone youth communities. Sexual abuse, drug addiction and life-threatening accidents have been widespread causes of suicidal disorders. For these young people, suicism is a form of despair. This desperation raises a burden on local authorities and health-care providers that cannot support the lowest earning and vulnerable populations.

    Children, families and health services need to be aware of the dire consequences of sexual abuse and forcible rape. Child sexual abuse should be communicated to the children and teens by education, health care services, legal aid and by government agencies. These and other prevention measures can help reduce the child sexual abuse threat.

    Sienna Holder (Quesnel)

    Macquarie reporting in May found that every year around 26 million alcohol-related deaths occur within Australia, the majority occurring in Melbourne and South Australia.#37 In 2012, 15.8% of Australian men aged 15-64 had had a comprehensive or delayed sex change before age 45, as compared with 8.3% of women.#38 An Australian advocate for sex change surgery, Dr Jocelyn Cottingham, in 2007 called for the routine sex change operation on state seniors to be allowed.#39


    The Dow Jones Index ranks Australia's healthcare system 429th out of countries in terms of overall quality of life and number of deaths from all causes combined. Improvement from Australia's ranking in 2011–12 is mostly attributed to improvement in the incidence of death from all diseases and the closure of Family First, and recent improvements in maternal mortality rates. Moreover, with a readmission rate of 71.9 per 1000 live births in 2011, Australia ranked 6th highest in the world overall on incidence rates.#40 The Quality of Life Index also ranks the healthcare and social welfare systems in Australia at 121th outof 175 countries.#41

    Budgets and other fiscal measures

    In April 2015, the Australian Government announced a tax increase to replace the Financial Sector Funding Plan (FSFP) and a state charge of $62 billion, to overhaul the way government budgets are allocated.#42 On 27 September 2015, Prime Minister Malcolm Turnbull announced that there would be no federal tax increase and no state charges.#43

    The next budget has been released on 9 January 2016 and has several parts, covering education, health, Welfare and Energy. The political parties that won the 2015 federal election are expected to tighten the tightening of the fiscals, as opposed to the previously announced tax increases.

    Energy #44#45

    As a major energy producer Australia has a fiscally driven national energy strategy which focuses on technologies that will cut emissions from power plants and metallurgical plants.

    Sienna Espinoza (State of Georgia)

    Macquarie report

    Notably, the report talks about the State has repeatedly blocked Australian scientists from accessing or publishing data on climate change. (Indeed, a few months ago, Mick Mulvaney, the acting Attorney-General of Australia, tried to block the release of the Macquaria report.)

    China and Iran are also central to a growing security and trade relationship that could affect Australia. China’s rabid support for shadowy groups and clandestine trade deals will not be a factor in the Trump Administration’s decision to attack Chinese trade practices or the Syrian war. But expanding military cooperation will have an immediate effect on China’in the political and commercial realms, according to the report.

    The Securities and Exchange Commission has conducted an investigation of China’a so-called Internet trading rigging scheme and uncovered communications between Chinese and US banks.

    A Senate inquiry has also uncovered evidence that Chinese officials boosted currency sales to American businesses and creditors in order to help them borrow more.

    Britain’s banking regulator, the Financial Services Authority (FSA), found untold numbers of corruption and bribery cases in the Chinese state financial sector. China has been accused of paying US personnel to undermine the financial system of other countries, and it has also been accused by the US financial regulator of using money laundering, financing terrorism and money launderers for organized crime.

    Interestingly, the contents of the report are similar to what Trump has proposed, which could reduce government regulatory costs and streamline the enforcement of existing laws.

    Have something to add? Email Jeffrey Ambellas at

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    Dean Wallace (Charlottetown)

    Macquarie report showed Australia's reputation as a place of 'peace and harmony' was'solidified with a 2009 referendum on same-sex marriage which generated a bigly successful outpouring of support.' In similar terms, Australia's 'demographic diversity' is 'particularly impressive' and 'especially attractive' - as the 'Australian Dream' 'has yet to fully emerge'. Australia's journalist Vanessa DiStefano dubbed it the'most overriding domestic topic in our world.'

    CUT TO: The Obama campaign has again focused on a contrast in its statements to those of the government. On Cairo's 'civilian' catastrophe, press secretary Josh Earnest compared the tragedy to Iraq's Baghdad. He said Bush 'benefited from #Syrian President Bashar Assad's capture of regime control of the oil fields and convoy of federal aid convoys that Iranian-backed fighters cut off.' Bashr al-Assad said he thought the attack was 'based on denial of human rights', Mr Earned said.

    The truth is the government has a long history of stonewalling its critics. In 2009, Qantas said on its website that Amy Macdonald could not be 'found' because it was "unwieldy for even medium-sized newspapers" and that under Australia's contracts, no media paper could be put in place if there were no previously agreed partners. And in July last year, a newspaper called the Australian has denied reports that it had compensation to replace its staff after it lost ground in a "quiet coup".

    Michael Kimmel, who was editor of the Sydney Morning Herald (which has been a national sensation), said he lost the paper after receiving a bail notice that he would have to pay $740,000 to close the printing and distribution chain. Kimmell said it was a "disappointing" setback but paid out $30,000 in total to staff.

    From the start of his work at the paper, he said, he was regularly contacted by the Australian government for 'aid and advice'.

    Chris Day (Whitehorse)

    Macquarie report to be released today, dates the document to early 2015 when the Rudd government started its “free school breakdown policy.

    When Rudd lied to the voters about their tax break for schools, they had the option of revoking it.

    Both Hutton and Macquaria warned back then the plan would no longer go ahead.

    Today, the paper listed “good reasons for the decision.

    For instance, they said that the government’s “obsession with a merit-based system to reward teachers was causing the program to become “critical to students’ learning rates.

    This is “growing evidence that schools were a “national asset and that the notion that schools can benefit from cutting the “personal income tax was “inaccurate.

    And that the current decision to “construct a new criteria for receiving public funds was a “punitive measure against business.

    But school breaks were not just the “long-standing system to provide guaranteed pensions to teachers. They were “a key instrument to target the teachers, Hutt said.

    “This was the biggest single source of revenue for schools.

    The report states that only 20 per cent of public money that had been awarded “despite a thorough analysis of its effectiveness, with no evidence that the system actually helped achieve the schools’ stated objectives.

    The biggest spending item was the “restructuring of school break budgets.

    Access to resources was considered the main reason why schools were used.

    Free school break was not just a tax break: it was “a way for the public to take over an increasingly parochial sector.

    And there was a perception that the year-long free school break would be used “to promote school choice.

    In the report, Hutz said the $20 billion set aside for free school arrangements would “render a substantial chunk of that money wasted by 2014 and would also “cost about 20,000 jobs.

    He said the situation should be “reversed and would “prevent the widening gap between rich and poor in Australia.

    Brian Flatcher (Luton)

    Macquarie report)

    In a report on the NBN Co’s current deal with Telstra, the Australian government said the decision to let Telco leave the fibre to the premises, where Fibre North is expected to supply 30% of the new network, was justified.

    It noted that there were “no present risks for Telcordia or Australians from this gigabit interconnection” and stressed the need for Fibe North to continue its interconnected strategies.

    In the report, also published in the Guardian, the regulator also said that in the absence of Telus in the NSW market, Telge was the only player that was doing all the building and delivering the interconference.

    Telcor’s board had urged the NT government to tear up the deal and replace it with the country’s first Fibonacci-based technology.

    The review of a current proposal to cover the $5.2 billion of service by 2020 reveals that the government is being forced to look to existing global fibreglass plants for solutions and no air-conditioned bids are to be ruled out as expected.

    Rather, the government and industry are likely to redouble efforts to extract potential partners away from existing business models and to find new solutions that are more relevant in the fast-developing NBN market.

    Private and public offerings have sprung up to fill the void, however the Nine Network has a lag time in construction compared to the much-ballyhooed Fibelab consortium and now has to ask the state government for the resources it needs to build its own portal.

    On the condition of anonymity, two of the most important players in the rollout of the NNB, the ACT Government, and GSMA, have cautioned that a loss of TCT in the future could “pose a significant competitive risk”.

    There are still many more companies – including the likes of Cableport Australia and National Australia Bank – in the market and it remains to be seen how far the government plans to commit to the promised deliveries of sixth-generation fibres.

    Mandy Frye (Aberdeenshire)

    Macquarie report finds the thin provinces are flooding now, the worst in the past 40 years. Only two of the provincial capitals remain dry, with 75 per cent of cities and towns suffering significant water shortages.

    For communities around the world – and Asia, for example – this is a direct blow to their livelihoods and borders.

    The United Nations sees a 120 billion dollar global water shortage as its highest ever.

    Half of Australia's population is now affected, with the hitting of the Yellowknife River and the Selwyn River. All of them are either made up of territories that are under no local government or individual municipalities, or have no agreements with the federal government.

    In some parts of Asia, a dam is on the way to deliver water at parcels around Hakodate in the Japanese island of Honshu.

    That pipeline is entirely dependent on the water supply provided by China’s Han River, which now is exhausted by the Euphrates river. At least five of the ports in the Federated States of Micronesia are now without water and are suffering from disaster.

    At the time of writing, there is no doubt that the number of warmer days, and the temperature, is increasing by up to 1.5 degrees Fahrenheit in the Arctic Circle.

    Mike Schimmel of the Washington State University in Seattle says the state of Washington is facing a water crisis in the coming years, and he has advised the state’s emergency agencies to prepare to work on public security and economic impacts of a catastrophe.

    If a flood happens and a city is still deep in the water, the floodwater is emptying out the adjacent buildings, which are no longer there.

    He said, “If we are able to rescue people and bring them to safety, it is going to be a very, very significant resource.”

    The west coast of Western Australia is facing another round of flooding in March, as it was in February.

    There is no sense, he said, in hoping anything can be done by the end of May.

    Joel Gibbs (Plano)

    Macquarie report 2012, for instance. At the end of the report, researchers cite that the jobless rate is so low that more is required to increase growth and stimulate demand. The researchers also calculate that stimulating this demand with some cuts would be a nasty, wrenching, temporary thing to do and that we wouldn't be able to use this more effective tool for long. So with that in mind, and with the fact that there is virtually no evidence to suggest the US economy is growing faster than the rest of the world, this new report seems at least understandable. Of course, cutting the unemployment rate is a good thing, but only temporarily, unless you've got something in mind that's bigger than the job being cut right now.

    And while, as I said, growing the economy is a major objective, in order to get there, economic policy must have some time to develop a long-term strategy. Moving quickly can look like a good idea, but going any farther out can look tough. It's not ideal. So perhaps that's a greater objective than the creation of a new job.

    To be sure, this isn't the only thing changing. The US sharply weathered the 2008-09 financial crisis. It has been deeply locked in the economic debate for much of the past decade, and it may not be the only example of a country putting itself in a much more difficult situation than it should have been. We also have a good amount of crisis-style social unrest. The Black Lives Matter movement is a ripple effect, in many ways, of this phenomenon. In fact, the massive cuts to campaign spending likely will probably help light the fuse. With almost all of the American public centered on jobs, people are very sensitive to paying attention to other issues. But the polarization of the public now with the economy has put even more stress on the issue of taxes and budget deficits. And things will get even worse after the first few months of the Trump administration.

    Since February, rain forecasts have shown that much of our country is in a deep and persistent drought. A plentiful supply of water was the first thing that took the focus away from job creation and pushed the economic focus away.

    Connie Robinson (North Lincolnshire)

    Macquarie report, which was “substantially revised” to reduce a previous figure of 200 refugees a day.

    Australia's refugee commissioner wants to change the numbers slightly

    So the disaster has spurred an increase in Australia's admission of refugees since the storm. In the latest data released by the Department of Foreign Affairs and Trade, 2,467 people are now resettled in the country.

    The Department of Immigration and Border Protection estimates the total arrivals from this approach may be as high as 17,000 people.

    It is unclear when the numbers will drop below that level, as their administration faces the challenge of not only providing the equivalent of 20,000 new beds for refugees in the first week, but also following up on the 6,000 bed figures who are already spared.

    "We do not have any information on whether the situation is working out as we anticipated, or if it's not working out," South Australian immigration spokeswoman Judy Suddath said.

    While the government's figures for the number of refugee arrivals are low, the number asylum seekers has increased 70% since the disastrous storm. "There are a number of factors that can be attributed to the dramatic increase in people seeking refuge, many newcomers," a spokeswomen for the South Australian Migration Department said. "We are already working with the federal government on how to have people stay in the housing provided."

    Preventing more new arrivals

    The South Australian Government has tried to tackle its shortage of resettlement sites by calling for people to apply for temporary residence permits and then apply for those permutations to be renewed.

    But the supply of such permites is not immediate.

    Returning to camps in search of new homes

    Tony Abbott announced last week he would withdraw Australia's plans to temporarily relocate some refugees living in Australia. Australian Prime Minister Malcolm Turnbull, who has said he would work closely with the President, has also said the authorities would soon start seeking proposals from those desperate for a place to live.


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