Gillard buys power for $10 billion - The Fin; No backdown by Gillard despite storm of anger – The West; Call for fresh start on tax reform – The Aus; State the big loser: Barnett – The West; Signs point to move up soon – The Fin
Gillard buys power for $10 billion
A new Labor ministry is expected to be named next Monday after Prime Minister Julia Gillard yesterday used a $10 billion regional spending plan to secure the support of two independent MPs to salvage Labor from its brush with disaster at the federal election. The Fin
No backdown by Gillard despite storm of anger
The re-elected Gillard government will press on with its plan for a mineral resource rent tax in the face of attacks from miners, the State Government and even some Federal independents. The West
Call for fresh start on tax reform
Business leaders have urged the new government to commit to sweeping tax reform to boost investment and productivity and use the promised tax summit to repair the damage to Australia's reputation with international investors caused by the resource super profits tax debacle. The Aus
State the big loser: Barnett
A bitterly disappointed Colin Barnett said yesterday Australia now "had the most left-wing government" in its history and WA would be the big loser from the decision of independent MPs Tony Windsor and Rob Oakeshott to help Julia Gillard form a federal Labor government. The West
Signs point to move up soon
The Reserve Bank of Australia has signalled it is more likely to resume raising interest rates sooner rather than later after economic growth surged to a three-year high and as global financial markets stabilise. The Fin
THE WEST AUSTRALIAN:
Page 1: Julia Gillard has clung to power by the narrowest of margins to become Australia's first elected female Prime Minister after enticing two rural independents with a $10 billion investment in country schools and infrastructure.
Page 3: Petty criminals could escape convictions by paying on-the-spot fines for offences including disorderly behaviour and shoplifting under new laws to be introduced in State Parliament today.
Page 4: The Nationals' new MP for O'Connor, Tony Crook, might have backed the wrong horse in the government stakes but claimed yesterday that he was still in a strong position to negotiate a better deal for regional WA.
Page 5: The re-elected Gillard government will press on with its plan for a mineral resource rent tax in the face of attacks from miners, the State Government and even some Federal independents.
A bitterly disappointed Colin Barnett said yesterday Australia now "had the most left-wing government" in its history and WA would be the big loser from the decision of independent MPs Tony Windsor and Rob Oakeshott to help Julia Gillard form a federal Labor government.
Page 7: Julia Gillard gave $10 billion in concessions to the bush in her pitch to win over the two rural independents and hang on to power.
Julia Gillard says she expects to swear in her new frontbench early next week - but the make-up hinges on whether independent Rob Oakeshott takes up her offer of a ministry and whether Kevin Rudd is content with the job he is offered.
Opposition Leader Tony Abbott has pledged to give the new government a fair go, even though he believes the coalition was the true winner of the election.
Page 10: A 10 per cent tax on junk food, a legal drinking age of 21 and a salt limit in basic foods are among a list of health measures which experts claim would slash rates of disease and early death in Australia.
Page 11: Colin Barnett has been left red-faced after one of his key advisers mistakenly sent an email to the Kimberley Land Council describing a requested meeting with the Premier as a "talkfest" and a waste of his time.
Page 12: The State Government faces tough negotiations with businessman Nick Tana over management rights for nib Stadium despite striking a $6 million deal with the Town of Vincent for a 50-year lease over the venue.
Page 31: Insurance premiums are expected to rise again this year as insurers warn that natural catastrophes, such as Perth's devastating hailstorm in March, are now normal events and prices must go up to cover the cost of more frequent storms.
City of Gosnells last night rejected plans for a mosque in Orange Grove as it emerged the Islamic community is facing opposition to a second similar proposal in Thornlie.
Business: The WA mining sector's relief at the end of the political stalemate in Canberra was quickly overtaken by fresh concern that a carbon tax would be added to the controversial mining profits impost hanging over the State's most important industry.
The Labor Government's victory yesterday ensured the $43 billion national broadband network lives to fight another day, even if its survival remains dependent on the durability of the minority government.
The global financial crisis has increased cases of fraud and corruption as companies attempted to cut costs, according to a new report.
Andean Resources is ready to evaluate any higher offer for the group, already the subject of two bids from Canadian gold companies.
One-time Mallesons Perth partner-in-charge Robert Cole has firmed as a leading internal candidate to succeed Woodside Petroleum chief executive Don Voelte after a reshuffle of senior executive ranks at Australia's biggest oil and gas company.
A team of UWA commerce students has pipped a field of 3,000 competitors from 70 countries to be named global winner of the 2010 Google online marketing challenge.
THE AUSTRALIAN FINANCIAL REVIEW:
Page 1: A new Labor ministry is expected to be named next Monday after Prime Minister Julia Gillard yesterday used a $10 billion regional spending plan to secure the support of two independent MPs to salvage Labor from its brush with disaster at the federal election.
Business has been given the chance to debate tax reform after the Gillard government agreed to meet the demands of independent kingmaker Rob Oakeshott to hold a tax summit.
Page 3: The chairman of the International Accounting Standards Board will consult on controversial proposals that will force major companies to book more than $40 billion in lease liabilities for the first time.
Page 4: The Reserve Bank of Australia has signalled it is more likely to resume raising interest rates sooner rather than later after economic growth surged to a three-year high and as global financial markets stabilise.
Page 5: The Reserve Bank of Australia tempered its expectations for global economic growth but appeared less concerned about European sovereign debt risks.
Page 11: Less than a tenth of the $9.9 billion Prime Minister Julia Gillard has promised Labor will deliver to regional areas is for new programs over the next four years.
Page 12: Wholesale changes to the Gillard frontbench are likely to flow after Labor's close election win with senior cabinet posts to be filled, Kevin Rudd to be accommodated, and a likely restructure of portfolios to mark the changing politics of minority government.
Page 14: The Gillard government will inherit an economy that appears robust compared with the rest of the world, but is increasingly vulnerable to the health of China's industry.
West Australian National Tony Crook is sticking to his guns and will sit on the crossbenches in the new parliament.
Page 15: Treasurer Wayne Swan has shuffled some spending measures to show the budget balance will not be affected by $2.1 billion of promises to the country independents.
Page 17: The new Labor minority government faces scrutiny over its plan to increase employers' superannuation contributions from 9 per cent to 12 per cent of wages over a decade.
Page 18: Business has called on Labor to devise immigration policies to help prevent skills shortages and take the political heat out of refugee policy.
Liberal leader Tony Abbott last night conceded defeat and said it was unlikely the Coalition would be moving no-confidence motions on the Gillard government unless its performance was "manifestly deficient".
Page 19: Two issues stand out as likely to dominate Prime Minister Julia Gillard's foreign policy agenda: the war in Afghanistan and free trade.
Page 23: Resources and banking stocks are likely to remain under pressure under the newly elected Labor government, maintaining the uncertainty that has made foreign investors wary of Australia for the past four months.
Page 59: Australia's largest grains handler, CBH Group, has slashed its wheat crop estimate to a four-year low after poor rainfall in key growing regions.
Nine Network is expected to launch its second digital channel on September 19, six days before arch rival Seven Network introduces its new channel 7mate.
Page 64: Property industry leaders are concerned about the Gillard government's commitment to fixing the housing crisis.
THE AUSTRALIAN:
Page 1: Julia Gillard has negotiated her way to victory in the August 21 election by agreeing to funnel $10 billion into rural and regional Australia, to lock in backing from two independent MPs.
Tax reform will dominate Labor's second term of government after the independents forced a tax summit to revisit the Henry tax review.
Page 2: Julia Gillard has given the rural independents a $9.9 billion package that provides country Australia exclusive access to hospitals funding and lower broadband prices.
Julia Gillard has agreed to give independent MPs Tony Windsor and Rob Oakeshott input into determining the date of the next federal election.
Independent Andrew Wilkie has warned the new Gillard government that it will need to accommodate the independents on ''every piece of legislation and policy initiative''.
Page 3: The nation's parliament has never been this divided before, with minority government being formed by a Melbourne and Sydney-based Labor Party in agreements with two bush independents in NSW, a Hobart-based independent and a Greens MP in Melbourne.
Labor and union leaders were jubilant, farmers and business cautious and the renewable energy sector welcomed the formation of a minority Labor government.
Page 4: Julia Gillard has offered independent rural MP Rob Oakeshott a role as a minister on her new front bench, as the Prime Minister prepares for a shake-up of all positions to be unveiled next week.
For Australia's key Asian relationships, the Kevin Rudd question is today as thorny as it was domestically during the election campaign.
Page 5: Tony Abbott has vowed to hold the Labor government ''ferociously to account'', but promised not to deliberately destabilise the administration if it performed well.
Page 6: Julia Gillard will be forced to reprioritise spending on hospital redevelopments to favour the bush, and regional universities will receive priority as Labor prepares for its second term in office relying on independents and Greens for power.
Labor's $43 billion National Broadband Network has played a central role in saving it from a first term defeat, helping to convince two independents to break from their conservative roots to back Julia Gillard.
Independents Rob Oakeshott and Tony Windsor have defied decades of tradition in their seats by backing Labor, and some locals say they will not vote for them again.
Page 9: The Reserve Bank has prepared the ground for rate rises in coming months, pointing to the growing strength of private sector demand and the expected surge of investment in the mining industry.
Business: Business leaders have urged the new government to commit to sweeping tax reform to boost investment and productivity and use the promised tax summit to repair the damage to Australia's reputation with international investors caused by the resource super profits tax debacle.
Fears are rising in the oil and gas industry that multi-billion-dollar gas export projects could be further delayed amid calls for another summit to consider the Henry review of taxation.
Telstra has been as divided as the public and the parliament over the prospect of a returned Labor government, given what it means for Telstra's future.
The Federal Court has ruled against Fairfax Media's attempt to claim copyright over headlines in The Australian Financial Review in a ruling that could have significant implications for the reproduction of newspaper articles.
Despite a federal election, Australians' enthusiasm for property has remained high, with mortgage sales jumping nearly 11 per cent last month.
Superannuation funds could save millions of dollars a year if they used their financial clout to negotiate fixed fees with fund managers instead of paying fees based on a percentage of assets, according to research from actuaries Rice Warner.
