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Effects of ERS not so bad: Grattan

ELIZA BAVIN  |  THURSDAY, 8 OCT 2020
... going to see a boom in consumer activity," Woods said. "The budget is forecasting basically zero real wage growth over the next four years. So, there is not a huge amount to get consumers spending. My concern is that we are putting that business investment ...

AMP, former employee settle

KANIKA SOOD  |  WEDNESDAY, 7 OCT 2020
... than inadvertent", with senior management potentially ignoring legal advice and complaints from junior employees. In the next week, Cook claims she reported the information to former AMP legal counsel Brian Salter, former AMP Advice chief executive Jack ...

Geoff Lloyd to leave MLC

KANIKA SOOD  |  WEDNESDAY, 7 OCT 2020
... shareholders. Having completed the task with distinction, he is now able to take some well-deserved time and consider his next role," NAB chief executive Ross McEwan said in an email to NAB and MLC employees. "In his time with us, Geoff has built the ...

Several black holes in budget

KARREN VERGARA  |  WEDNESDAY, 7 OCT 2020
... see that the essential social infrastructure of social housing was ignored. "Investing in 30,000 social homes within the next four years is an obvious solution that will not only help to end homelessness in Australia but will also create vital jobs in ...

Super reforms modest negative for AMP, IOOF: Credit Suisse

KANIKA SOOD  |  WEDNESDAY, 7 OCT 2020
... AMP's revenues (unlike LNK where it is membership). This means that the impact of the reforms will likely be minimal in the next few years with any negative impacts quite long dated. " Credit Suisse noted the caveat would be if IOOF or AMP funds ...

Super's role in new $10bn infra spend

KANIKA SOOD  |  WEDNESDAY, 7 OCT 2020
... federal Treasurer Josh Frydenberg said it will increase the infrastructure investment pipeline from $100 billion for the next decade promised during 2019 budget to $110 billion. The extra $10 billion is chalked in for roads, rail and bridges. Frontier ...

Chief economist update: Splish splash, budget cash

BENJAMIN ONG  |  WEDNESDAY, 7 OCT 2020
... To be sure, this largesse would send Australia's gross level of indebtedness up to more than a trillion Aussie dollars next year (based on Treasury estimates) that equates to 50.5% of GDP (from 44.8% of GDP in fiscal 2019/20) before stabilising at ...

Budget commitment to aged care not good enough

ALLY SELBY  |  TUESDAY, 6 OCT 2020
... to be announced following the final recommendations of the Royal Commission into Aged Care Quality and Safety in February next year. "This brings the total to more than 180,000 places, three times the number of home care packages than when we came to ...

Super industry cautious on more reform

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
... designed" in providing a boost to household and corporate spending. "If a vaccine is also made widely available by early next year, the economy would be set up to truly boom in 2021 - raising the prospect of interest rates increases, rather than further ...

Budget boosts female participation

KARREN VERGARA  |  TUESDAY, 6 OCT 2020
... 60% of the 458,000 jobs created since May filled by women," Frydenberg said. Some of the $240.4 million budgeted over the next five years via the Women's Economic Security Statement will support new cadetships and apprenticeships for women in science ...