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You can find the current article at its original source at http://www.theguardian.com/australia-news/live/2016/apr/20/coalition-strengthens-corporate-regulator-to-head-off-calls-for-a-banking-royal-commission-politics-live
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| Coalition strengthens corporate regulator to head off calls for a banking royal commission – politics live | Coalition strengthens corporate regulator to head off calls for a banking royal commission – politics live |
| (35 minutes later) | |
| 1.29am BST | |
| 01:29 | |
| The Asic package is coming up. | |
| 1.15am BST | |
| 01:15 | |
| Election underway in all but name. A prime minister and children inside .. | |
| ... and a demo outside. | |
| 1.07am BST | |
| 01:07 | |
| No portent here of any kind. Complete coincidence that a child in a trouble shirt materialises in front of the prime minister. | |
| 12.46am BST | 12.46am BST |
| 00:46 | 00:46 |
| Yes, I’m now getting a number of messages from folks whom I assume to be public servants in the ether who have been unable to watch the webcast of the prime minister’s address. I’ve directed the feedback to where it needs to go. | Yes, I’m now getting a number of messages from folks whom I assume to be public servants in the ether who have been unable to watch the webcast of the prime minister’s address. I’ve directed the feedback to where it needs to go. |
| Ping @TurnbullMalcolm https://t.co/k7q7HdGQGo | Ping @TurnbullMalcolm https://t.co/k7q7HdGQGo |
| 12.40am BST | 12.40am BST |
| 00:40 | 00:40 |
| Every day I’m buffering. | Every day I’m buffering. |
| @murpharoo @guardian its streaming live to the APS but the buffering is so bad its unwatchable. Using the new #nbn? Net speeds are a problem | @murpharoo @guardian its streaming live to the APS but the buffering is so bad its unwatchable. Using the new #nbn? Net speeds are a problem |
| 12.39am BST | 12.39am BST |
| 00:39 | 00:39 |
| Turnbull is now taking questions from the floor. | Turnbull is now taking questions from the floor. |
| A public servant from immigration points out that innovative policy requires risk taking, but the media cycle is all about gotcha moments. How do you navigate that? | A public servant from immigration points out that innovative policy requires risk taking, but the media cycle is all about gotcha moments. How do you navigate that? |
| The prime minister says you develop policy which is your best assessment in the circumstances. If it doesn’t work, dump it. If you see good things somewhere else, then plagarise them. | The prime minister says you develop policy which is your best assessment in the circumstances. If it doesn’t work, dump it. If you see good things somewhere else, then plagarise them. |
| Malcolm Turnbull | Malcolm Turnbull |
| The obligation is to do the right thing by the Australian people. This is how the real world operates, every business is constantly calibrating ... (if things don’t work) they change them. Organisms that are not changing are dead. | The obligation is to do the right thing by the Australian people. This is how the real world operates, every business is constantly calibrating ... (if things don’t work) they change them. Organisms that are not changing are dead. |
| Next question is from a foreign affairs official who picks up on the PM’s comments about women in the executive. Is he in favour of targets? | Next question is from a foreign affairs official who picks up on the PM’s comments about women in the executive. Is he in favour of targets? |
| Malcolm Turnbull | Malcolm Turnbull |
| I’m certainly in favour of targets. If you have a target you have to report on it and if you are missing it people will ask why. | I’m certainly in favour of targets. If you have a target you have to report on it and if you are missing it people will ask why. |
| He says role models are very important. In his government, Julie Bishop and Marise Payne are role models. Michaelia Cash in employment is showing great leadership. He says managers need to look at road blocks to equality, and remove the barriers. | He says role models are very important. In his government, Julie Bishop and Marise Payne are role models. Michaelia Cash in employment is showing great leadership. He says managers need to look at road blocks to equality, and remove the barriers. |
| Mentoring, role models, flexibility are very very important elements. Men have to be strong champions of change. | Mentoring, role models, flexibility are very very important elements. Men have to be strong champions of change. |
| Updated | Updated |
| at 12.42am BST | at 12.42am BST |
| 12.28am BST | 12.28am BST |
| 00:28 | 00:28 |
| This is quite an interesting speech from Turnbull. He says the public service has to prioritise collaboration. He urges his audience to think flexibility about policy, to have the capacity to know various policies are or aren’t working, and respond accordingly; to strike a balance between the insights of senior people and the ideas of young, tech savvy recruits. The prime minister says the APS needs to champion continuous improvement: the government has high expectations of its advisers, but also recognises respectfully the commitment of people who often dedicate a whole professional lifetime to serving the Australian public. I’m sure these words might seem a bit glib to a public servant sitting in the audience, battered by the impact of efficiency dividends and constant budget cuts, but there’s some interesting concepts in the speech. | This is quite an interesting speech from Turnbull. He says the public service has to prioritise collaboration. He urges his audience to think flexibility about policy, to have the capacity to know various policies are or aren’t working, and respond accordingly; to strike a balance between the insights of senior people and the ideas of young, tech savvy recruits. The prime minister says the APS needs to champion continuous improvement: the government has high expectations of its advisers, but also recognises respectfully the commitment of people who often dedicate a whole professional lifetime to serving the Australian public. I’m sure these words might seem a bit glib to a public servant sitting in the audience, battered by the impact of efficiency dividends and constant budget cuts, but there’s some interesting concepts in the speech. |
| 12.21am BST | 12.21am BST |
| 00:21 | 00:21 |
| The prime minister is currently talking to public servants in Canberra. | The prime minister is currently talking to public servants in Canberra. |
| I can tell you that my government knows and respects the true value of the Australian public service. We know that we are fortunate to have at our disposal the knowledge, the experience, the passion of people who’ve chosen to serve the government of the day and, in turn, the Australian community who put them there. | I can tell you that my government knows and respects the true value of the Australian public service. We know that we are fortunate to have at our disposal the knowledge, the experience, the passion of people who’ve chosen to serve the government of the day and, in turn, the Australian community who put them there. |
| With that said, Turnbull says the public service needs to prioritise developing leadership skills and it also needs to do more to ensure gender equality at the executive level. Part of that is creating a culture that allows employees to work flexibly, using technology, to ensure they achieve a reasonable work life balance. | With that said, Turnbull says the public service needs to prioritise developing leadership skills and it also needs to do more to ensure gender equality at the executive level. Part of that is creating a culture that allows employees to work flexibly, using technology, to ensure they achieve a reasonable work life balance. |
| Malcolm Turnbull quotes Jack Ferguson, former deputy premier in New South Wales, father of the Labor brothers Martin and Laurie, who once told him that peace on the home front is worth 10% on the basic wage. | Malcolm Turnbull quotes Jack Ferguson, former deputy premier in New South Wales, father of the Labor brothers Martin and Laurie, who once told him that peace on the home front is worth 10% on the basic wage. |
| That gets a laugh in the room. | That gets a laugh in the room. |
| 12.12am BST | 12.12am BST |
| 00:12 | 00:12 |
| Another interesting story from Gareth about the outlook for global growth. In a speech in New York on Tuesday, the Reserve Bank governor, Glenn Stevens, has warned that the inability of governments and central banks to lift global growth prospects is the “biggest vulnerability” facing the world’s financial system today. “He says global growth must be Australia’s focus but the country also needs to realise that central banks are running out of firepower and government policies must start carrying more of the burden.” | Another interesting story from Gareth about the outlook for global growth. In a speech in New York on Tuesday, the Reserve Bank governor, Glenn Stevens, has warned that the inability of governments and central banks to lift global growth prospects is the “biggest vulnerability” facing the world’s financial system today. “He says global growth must be Australia’s focus but the country also needs to realise that central banks are running out of firepower and government policies must start carrying more of the burden.” |
| Stevens touched on the subject of helicopter money. If this is a new concept to you, it basically means central banks providing stimulus direct to people’s bank accounts in an effort to tempt them to spend. This idea is gaining currency in countries where growth is low and there’s no room to move with interest rates. But Stevens doesn’t sound like a fan of the concept. “Stevens said he did not believe economic conditions were that desperate, yet, and governments should still be focusing on funding growth-enhancing infrastructure projects while borrowing costs were so low.” | Stevens touched on the subject of helicopter money. If this is a new concept to you, it basically means central banks providing stimulus direct to people’s bank accounts in an effort to tempt them to spend. This idea is gaining currency in countries where growth is low and there’s no room to move with interest rates. But Stevens doesn’t sound like a fan of the concept. “Stevens said he did not believe economic conditions were that desperate, yet, and governments should still be focusing on funding growth-enhancing infrastructure projects while borrowing costs were so low.” |
| Just an aside. If you listen to what passes for an economic debate in Australia at the political level in Australia, you do notice a certain disconnect in content. There are big, serious, important debates at the global level that aren’t really penetrating in this country at all. We are still locked in sound bites, signifying very little. | Just an aside. If you listen to what passes for an economic debate in Australia at the political level in Australia, you do notice a certain disconnect in content. There are big, serious, important debates at the global level that aren’t really penetrating in this country at all. We are still locked in sound bites, signifying very little. |
| 11.52pm BST | 11.52pm BST |
| 23:52 | 23:52 |
| To other stories in the news cycle, an interesting story from my colleague Gareth Hutchens, who reports that new research has revealed 76 of Australia’s biggest multinationals pay an average effective tax rate of just 16.2% – half the corporate tax rate. “It has also discovered the commonwealth government lost $5.4bn in potential tax revenue in 2013 and 2014 from those same companies, as they shifted billions of dollars in profits offshore. Corporate tax experts from the University of Technology, Sydney, have worked with the activist group GetUp! to examine the financial records of the top 100 multinational corporations with operations in Australia. They say large pharmaceutical corporations are paying the lowest effective tax rate at just 5.7%, compared with 7.5% for hi-tech corporations and 20% for energy corporations. Australia’s official corporate tax rate is 30%.” | To other stories in the news cycle, an interesting story from my colleague Gareth Hutchens, who reports that new research has revealed 76 of Australia’s biggest multinationals pay an average effective tax rate of just 16.2% – half the corporate tax rate. “It has also discovered the commonwealth government lost $5.4bn in potential tax revenue in 2013 and 2014 from those same companies, as they shifted billions of dollars in profits offshore. Corporate tax experts from the University of Technology, Sydney, have worked with the activist group GetUp! to examine the financial records of the top 100 multinational corporations with operations in Australia. They say large pharmaceutical corporations are paying the lowest effective tax rate at just 5.7%, compared with 7.5% for hi-tech corporations and 20% for energy corporations. Australia’s official corporate tax rate is 30%.” |
| Updated | Updated |
| at 11.59pm BST | at 11.59pm BST |
| 11.45pm BST | 11.45pm BST |
| 23:45 | 23:45 |
| The ABC has been playing these new ads this morning, and they certainly hit home. | The ABC has been playing these new ads this morning, and they certainly hit home. |
| Porter is accompanied at this press conference by Michaelia Cash, minister for women. | Porter is accompanied at this press conference by Michaelia Cash, minister for women. |
| In terms of the campaign itself, it’s very much targeted at those people who are influences, whether they are parents, whether they’re teachers, whether they’re friends. | In terms of the campaign itself, it’s very much targeted at those people who are influences, whether they are parents, whether they’re teachers, whether they’re friends. |
| The research shows that coaches are real influences when it comes to setting an example. And what the research also confirms, as minister Porter has said, we need to stop accepting or excusing disrespectful behaviour towards women and girls. | The research shows that coaches are real influences when it comes to setting an example. And what the research also confirms, as minister Porter has said, we need to stop accepting or excusing disrespectful behaviour towards women and girls. |
| When you see the ads, you will see the scenarios put together. For example, when a woman or girl has been hurt, often the first response is: “what did she do that was wrong?” We go straight to the woman must have done something wrong or the girl must have done something wrong, without questioning why the perpetrator did what he did. | When you see the ads, you will see the scenarios put together. For example, when a woman or girl has been hurt, often the first response is: “what did she do that was wrong?” We go straight to the woman must have done something wrong or the girl must have done something wrong, without questioning why the perpetrator did what he did. |
| When a woman or girl has been hurt, we’ve got to stop saying: “it’s just boys being boys”. Again, it’s all about changing those attitudes at a young age that can ultimately lead towards disrespect to women, which can then lead, of course, to violence against women and their children. | When a woman or girl has been hurt, we’ve got to stop saying: “it’s just boys being boys”. Again, it’s all about changing those attitudes at a young age that can ultimately lead towards disrespect to women, which can then lead, of course, to violence against women and their children. |
| Ladies and gentlemen, it’s time to stop the excuses, it’s time to start the conversation. | Ladies and gentlemen, it’s time to stop the excuses, it’s time to start the conversation. |
| 11.38pm BST | 11.38pm BST |
| 23:38 | 23:38 |
| Down in the Blue Room, the social services minister, Christian Porter, is unveiling a new $30m campaign to tackle family violence. | Down in the Blue Room, the social services minister, Christian Porter, is unveiling a new $30m campaign to tackle family violence. |
| Christian Porter | Christian Porter |
| The point of the ads is to break habitual behaviour and responses, particularly those that we end up teaching to young men and boys, which all of the research tells us are a foundation stone for later behaviour which results in violence being occasioned against women. | The point of the ads is to break habitual behaviour and responses, particularly those that we end up teaching to young men and boys, which all of the research tells us are a foundation stone for later behaviour which results in violence being occasioned against women. |
| So the notion is, in essence, this: if you have a situation where one in six women experience physical or sexual violence and the research tells us we have a concurrent situation where one in four young people who don’t think it’s serious if a guy, who is a normally quiet fellow, hits his partner when he is drunk, then those two outcomes must be linked. | So the notion is, in essence, this: if you have a situation where one in six women experience physical or sexual violence and the research tells us we have a concurrent situation where one in four young people who don’t think it’s serious if a guy, who is a normally quiet fellow, hits his partner when he is drunk, then those two outcomes must be linked. |
| We are trying to hit directly at that attitudinal and habitual behaviour that hits in the mind of particularly young men and boys. | We are trying to hit directly at that attitudinal and habitual behaviour that hits in the mind of particularly young men and boys. |
| Updated | Updated |
| at 12.43am BST | at 12.43am BST |