Australia Facing May 18 Vote as Morrison Holds Off Election Call
(Bloomberg) -- Australia will probably head to the polls on May 18 with Prime Minister Scott Morrison expected to wait another week to call a federal election, local media reported Sunday.
Morrison has chosen not to visit the governor-general in Canberra today, AAP reported, a move that effectively ruled out a May 11 election. Sky News reported the government had opted against the earlier date due to a number of public holidays that could affect early voting. The opposition Labor party called that explanation “just absurd.”
“The only reason why this is occurring is so that they continue their roll-out of taxpayer-funded advertising,” Labor member of parliament Anthony Albanese told Sky News this morning. Albanese said he estimated the ruling Liberal-National government was spending more than A$600,000 ($426,000) a day on political advertising.
Treasurer Josh Frydenberg declined to say how much money the government was spending on political ads.
“Money is being spent in accordance with approved processes,” Frydenberg told ABC's Insiders program Sunday. “That's all transparent.”
The Policies That Will Decide Who Wins Australia's Election
The delay in calling a vote would allow coalition lawmakers to gauge support in the electorate for the federal budget, AAP said. Morrison's government delivered its budget last week, pledging sweeping tax cuts mostly aimed at the middle class and a spending spree on transport infrastructure.
Polls show the Labor party, led by former union boss Bill Shorten, is poised to win power. Shorten, 51, has promised to implement reforms that would help eliminate generational inequality, skewed by a tax system that Labor claims has unfairly favored baby boomers.
--With assistance from Jason Scott.
To contact the reporter on this story: Chelsea Mes in Sydney at cmes@bloomberg.net
To contact the editors responsible for this story: Stanley James at sjames8@bloomberg.net, ;Andrew Monahan at amonahan@bloomberg.net, Ken McCallum, Sungwoo Park
©2019 Bloomberg L.P.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.