GRACosway Weekly Wrap Up: Political year in full swing
- The first Newspoll of the year shows a boost in the Government’s primary vote, while Labor continues to lead in two-party preferred terms.
- Prime Minister Scott Morrison has unveiled new commitments to create 1.25 million jobs over the next five years, and improve transport in Brisbane.
- Liberal-turned-independent MP Julia Banks will contest Greg Hunt’s seat of Flinders.
- The final report of the Banking and Financial Services Royal Commission has been handed to the Governor-General this afternoon, before being publicly released on Monday.
- The new NT Ministry has been announced.
The first Newspoll for the year has revealed a buoyed primary vote for the Morrison Government, rising two points to 37 per cent since the previous poll, while Labor’s vote has fallen by three points to 38. Labor continues to lead in two-party preferred terms on a margin of 53-47, while Scott Morrison remains ahead of Bill Shorten as preferred prime minister. The election year has already seen a string of resignations from both sides of politics, including frontbenchers Kelly O’Dwyer, Nigel Scullion and Michael Keenan. The Federal Parliament will resume on Tuesday 12 February.
Economic announcements from the PM
Following Australia Day celebrations in Canberra over the weekend, Prime Minister Scott Morrison travelled to Brisbane to unveil an $80 million plan to combat local traffic congestion in Brisbane’s north, visiting the key marginal seats of Dickson and Petrie. In a speech to party faithful, Mr Morrison also committed to new tax cuts and the creation of 1.25 million jobs over the next five years, positioning the Coalition’s economic credentials at the centre of his re-election platform. The new measures will increase the small business tax write-off threshold to from $20,000 to $25,000. The write-off will be available for approximately three million small businesses with an annual turnover of less than $10 million.
Banks vs Hunt
Member for Chisholm Julia Banks has confirmed her intention to challenge Health Minister Greg Hunt for the traditionally safe Liberal seat of Flinders, currently held on a margin of 7 per cent. Ms Banks resigned from the Coalition last year to sit as an independent. She joins two new independent candidates also seeking to steal seats from the Coalition, with former Clean Energy Finance Corporation head Oliver Yates to challenge Treasurer Josh Frydenberg in Kooyong, and former Winter Olympian Zali Steggall to run against former PM Tony Abbott in Warringah.
Big banks brace for Royal Commission recommendations
Treasurer Josh Frydenberg has announced that the final report of the Financial Services Royal Commission will be released to the public on Monday afternoon, following the close of trading on the ASX. As expected, the report was delivered to the Governor-General today. GRACosway will release its analysis of the final report over the coming days.
New NT Ministry
NT Chief Minister Michael Gunner has announced his new Government Ministry. Mr Gunner will adopt the portfolios of Business and Innovation Defence Jobs, while Deputy Chief Minister Nicole Manison will retain the portfolios of Treasury and Police, Fire and Emergency services and take on Multicultural Affairs.
Looking ahead