Labor has called for a parliamentary inquiry into the potential leaking of significant information about the royal commission’s final report, following news that bank stocks surged immediately prior to the public release on Monday.
The Guardian reports that Labor’s spokeswoman on financial services Clare O’Neil has cited “concerning allegations” about the Hayne report, which lead to an even greater spike in bank shares after it went public, in a probe request to the prime minister’s department. Labor has previously called to extend parliamentary sitting days to legislate for Kenneth Hayne’s 76 recommendations. Leader of the house Christopher Pyne has dismissed the proposal but it is already gathering steam with the crossbench.
HOME AFFAIRS V PHELPS
A Home Affairs briefing based on ASIO and Australian Border Force advice has warned that Kerryn Phelps’ medivac proposal could undermine the “third pillar” of the federal government’s border control policy: the indefinite offshore detention of people seeking asylum.>
According to The Australian ($), the classified security briefing advises that Phelps’ bill could require onshore detention facilities re-opened for people who were unable to be subject to a timely threat assessment or are deemed unsafe to live in the community. >The briefing, reportedly prepared for government negotiations with crossbencher Rebekha Sharkie, comes after the second government leak in as many days, with The Daily Telegraph ($) reporting that almost 900 medical transferees have remained in Australia due to legal intervention.>
NAB (ALLEGEDLY) DOES IT AGAIN
A former chief of staff to embattled NAB chief executive Andrew Thorburn allegedly defrauded more than $500,000 of the bank’s money in order to fund a first-class, multi-destination family holiday; just one part of a suspected multi-million dollar rort.
With Thorburn already under pressure to resign post-Hayne grilling, The Age and SMH report that authorities are investigating whether the corporate and spending culture in NAB’s top office had anything to do with Rosemary Rogers’ alleged rort.
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THEY REALLY SAID THAT?
He had just booked out an entire restaurant to have dinner with me. I was vain. Arrogant. Thought I was special.
The former Labor senator goes for gusto in his Huang Xiangmo tell all ($).
CRIKEY QUICKIE: THE BEST OF YESTERDAY
“Financial services royal commissioner Kenneth Hayne has struggled with, but ultimately failed to address, the systemic problems of Australia’s financial industry. His recommendations for reform — common sense in many areas, timid and tepid in others — won’t address the deep-seated faults that drive the industry-wide misbehaviour he uncovered.”
“Labor’s plan to scrap cash refunds for franking credits is shaping up as a battleground election issue, with the Coalition desperate to win over older voters by raising the spectre of a ‘retirement tax’. The ALP’s policy, which Bill Shorten believes will save the government nearly $60 billion over a 10-year period, has been the subject of considerable media scrutiny, and more recently, an inquiry by a parliamentary committee. But while such inquiries are generally non-partisan, the Standing Committee on Economics’ probe into Labor’s policy seems to be anything but.”
“Fish are dying and South Australia is furious as Australia’s river management systems fail us yet again. How do we figure out how to manage the Murray Darling Basin? There are three main schools of thought. One is market forces — let water be traded like a commodity. The second is to use the force of the law: ban cotton farming, some say; ban water trading, say others. The third school of thought is to learn from systems that have worked elsewhere, however theoretically impure they may be.”
READ ALL ABOUT IT
For the sake of trust in politics Tim Wilson must go – the problem is he can’t see that — Katharine Murphy (The Guardian): “It’s that mindset that leads you to a place where you can establish an ‘inquiry’ into a ‘retirement tax’ (that isn’t a tax), funded by the taxpayer (thanks for that guys), and think it’s fine for the chairman of the relevant parliamentary committee (in this case Tim Wilson) to authorise what is clearly an accompanying, partisan campaign website (endorsed by him in his committee capacity) in order to better funnel outrage to the main event.”
The future of Adani coal mine is biggest political hot potato ($) — Graham Richardson (The Australian): “Support for climate change has morphed into opposition to coal-fired power. This is not a very clever development because coal will provide a very large chunk of the energy we will need to keep the lights on for decades to come. Opposition to coal-fired power has also morphed into implacable opposition to coalmining.”
Recession-free era could turn into something quite unpleasant — Stephen Bartholomeusz (Sydney Morning Herald): “Philip Lowe’s address to the National Press Club underscores how finely-balanced our current economic circumstances appear to be. So finely-balanced, in fact, that the Reserve Bank governor assesses the probabilities of either an increase or decrease in the cash rate as evenly balanced. Previously the central bank had considered it more likely the next move would be an increase.”
HOLD THE FRONT PAGE
WHAT’S ON TODAY
Adani’s Australian CEO Lucas Dow will address the Sydney Mining Club, while Stop Adani protestors are expected outside the event.
Independent MP Dr Kerryn Phelps, former Liberal Party leader Dr John Hewson and Energy Finance Studies Australasia director Tim Buckley will speak at Woollahra Library on the business of climate change.
Fighting In Resistance Equally (FIRE) and other activist groups will rally outside the office of NSW Regional Water Minister Niall Blair over Murray-Darling fish kills and NSW water quality.
A directions hearing will be held for a state election result dispute case with Labor’s Sarah De Santis, who narrowly lost to Liberal Party’s Louise Staley in the seat of Ripon.
Shadow Assistant Treasurer Dr Andrew Leigh will deliver an opening address at the “ANU Climate Update 2019”, a research event on new climate change data, fire and coral reef updates, and economic opportunities.
Chief Minister Michael Gunner will announce five infrastructure projects, worth a collective $125.5 million, to be fast-tracked.
A coroner’s report into 13 Indigenous child and youth suicides in the Kimberley will be released.
A community day of action will be held against the Department of Industry, Innovation and Science’s offshore oil and gas information session.
Hamilton, New Zealand
Former foreign minister Julie Bishop will address the New Zealand National Party’s caucus.