ABC NewsMail - Afternoon Edition

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NewsMail Afternoon Edition
Wed 21 Aug, 2013

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Labor criticises Coalition's parental leave scheme as 'huge hit' to super

Labor has attacked the Opposition's multi-billion-dollar paid parental leave policy as a "huge hit" to "every single worker" through their superannuation schemes.

The policy will be partly funded by a 1.5 per cent levy on big business which the Shareholders Association agrees will hurt investors because they will not be able to claim a franking credit on the tax hike.

Franking credits are a tax break given to investors on tax already paid by a company, to ensure profits are not taxed twice.

Treasurer Chris Bowen says the scheme is "Tony Abbott's giant raid on Australia's investors to pay for his unravelling signature policy".

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The Drum

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A campaign sadly lacking in poetry and vision

The Howard government was competent and efficient. Notwithstanding Peter Costello's frustrated leadership ambitions, it remained united and disciplined as a team.

But the Howard government deserved to lose in 2007 because it demonstrated no other reason to seek re-election than to say "look at our record and don't trust Labor".

Fast forward to 2013. This is potentially a change of government election, and changing a government truly changes the country. Yet what we're not so far getting from either Labor or the Coalition is a deeper conversation about how they will change our nation.

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Just In

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Parole board admits errors in Adrian Bayley case

Victoria's parole board has admitted it failed to recognise the escalating risk posed by Adrian Bayley before he murdered Jill Meagher.

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World

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Japan upgrades Fukushima radiation leak to 'serious incident'

Japan has raised the severity of the latest leak at the Fukushima nuclear plant, now describing it as a "serious radiation incident".

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Business

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Increase in production boosts Woodside profits

Oil and gas giant Woodside Petroleum has posted a record half year profit, boosting its earnings by more than seven per cent.

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Politics

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Coalition unveils manufacturing policy, new ministry position

The Coalition has outlined its manufacturing policy, including establishing a new frontbench position of Minister for Trade and Investment.

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Sport

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Essendon will get the chance to respond to AFL charges: Demetriou

Andrew Demetriou says Essendon will be given every opportunity to respond to the charges that have been laid against them.

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Science and Technology

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North Korea unveils 'homemade' smartphone

North Korea has unveiled what it says is its first domestically produced smartphone, although industry analysts say the "Arirang" is likely made in China.

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Environment

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Sea anemones bleaching on large scale

An international research team warns that sea anemones are bleaching on a large scale and the fish that live in them could be at risk too.

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