POLITICS & POLICY

The South Australian government’s Small and Medium Enterprise Investment Development Program (SMEIDP) is now open for applications as part of plans to help small and medium?sized companies improve competitiveness.

Woodside’s proposed billion-dollar Greater Sunrise floating liquefied natural gas (LNG) platforms in the Timor Sea remain locked in a controversy as the East Timor government maintains its position that a processing plant be built inside the country instead of the planned gas hub.

The federal government is extending its assistance on Queenslanders affected by the heavy rains and flooding that deluded the state, the worst flooding incident seen in Queensland for almost half a century, according to experts.

Prime Minister Julia Gillard scored the opposition for again fusing politics on the national broadband network project and this time around by dragging the names of two senior NBN Co executives to the alleged bribery scandals that occurred in Asia and Latin America.

Western Australia now earns the distinction as the country’s first site of genetically modified (GM) canola contamination, with a farm in the state’s Great Southern region receiving confirmation from WA authorities that its organic produces could be laced with contaminants.

Global mining giant Rio Tinto Ltd won the official approval of the Western Australian government for proceeding on the initial phase of its $3.9 billion iron ore expansion in the Pilbara region.

The budget surplus heralded by the federal government for fiscal 2013 may not be realised after all following reports that the targeted $7.4 billion revenue from the minerals resource rent tax could suffer considerable shortfalls.

Banks targeted by the country’s securities regulator for legal proceedings have lashed out on the agency, claiming that the lawsuits are unwarranted since their actions on the Storm Financial issue were merely procedural.

Eight out of 10 Australian borrowers believe the government's planned bank reforms do not go far enough to help and that more could be done to crackdown on interest rate rises.

Severe weather systems hovering over the European continent spawned unfavourable flying conditions on its vast area’s airport terminals, including London’s Heathrow Airport where two Qantas Airways flights coming and bound for the terminal are suspended on Wednesday.

Queensland Premier Anna Bligh denies the existence of any challenges to her leadership of the state Labor Party, apparently convinced that politics is the last thing in the minds of people especially during the holiday season.

Sealing the deal on the national broadband network project appears to require more time than first thought as Telstra Corporation informed its shareholders that its discussions with the federal government has been delayed.

The recommendations penned by the Policy Transition Group is fully acceptable for the federal government and while its gears up to honour and implement the tax deal it forged with Australia’s major miners, it also warned state and territory governments to follow suit and face the consequences.

The federal government suffered a major setback on its mineral resource rent tax stance as the Policy Transition Group (PTG) pushed forward its major recommendation of calling on Prime Minister Julia Gillard to credit all current and future royalties to the MRRT accounts of giant mining firms.

Treasury Secretary Ken Henry ended his long public service career on Tuesday as the federal government announced his resignation from office following more than 25 years of tax reforms advocacy in Australia.

The Council of Australian Governments (COAG) may have to step in and help resolve the rising tension between the country’s biggest resources firms, the governments of Queensland and Western Australia and the federal authorities over the controversial mineral resources rent tax.

Taking the cue from the inquiry conducted by the Productivity Commission on executive pay in Australia, the federal government is floating a draft legislation that empowers company shareholders to expel firm directors that are deemed collecting undue high compensation.

The new delay suffered by Adelaide’s desalination plant project in South Australia would not jack up its overall cost, despite the initial four-month setback caused by a worker’s death.

Touting a much-reduced cost of under $36 billion from the original $40 billion plus estimates, the federal government hails the national broadband network initiative as workable and reasonable as per the NBN plan unveiled on Monday.

Miners found an ally on Queensland Premier Anna Bligh, who declared on Monday that the federal government needs to honour its royalty deal with BHP Billiton, Rio Tinto and Xstrata, regardless of the contentious issue on the agreement’s time frame.

Weeks after the federal government allowed some glimpses on the $36 billion national broadband network business plan, its full contents would be finally revealed on Monday, which experts said should contain the project’s actual scope, viability and profitability.

The government's metropolitan plan for Sydney 2036, which reveals that the city needs 770,000 more homes, lacks clear targets and implementation strategies, according to Australia's peak body for the residential construction industry.

The NSW government has approved the expansion of Sydney's $6 billion Barangaroo development to include a controversial hotel.

The federal government may mean well on its intention to bolster the competition environment of Australia’s banking industry but an overarching federal intervention could backfire on aims to further enhance its economic viability.

The Australian banking industry is competitive enough, according to Commonwealth Bank of Australia (CBA) chief executive Ralph Norris, who testified before the Senate inquiry on banking competition that enough players are currently engaged in the market.

The federal government is not headed on a collision course with Australia’s mining giants as Federal Treasurer Wayne Swan insists that the current debate on royalty taxes amount to nothing but minor dispute, which should see a quick resolution.

The first hurdle against the $8.4 billion Australian Securities Exchange (ASX) and Singapore Stock Exchange (SGX) merger proposal has just been overcome as the Australian Competition and Consumer Commission (ACCC) made known its clear intention to allow the acquisition deal.

The sharp fall of national dwelling commencements in the September quarter reinforces the urgent need for governments to address supply side policy failures, according to the peak building and construction industry association.

The Australian government's banking reform package failed to address lack of competition in the banking sector, the lobby group for non-bank lenders says.