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Issue No. 178 | 16 May 2003 |
Shit Sandwich
Interview: Staying Alive Bad Boss: The Ultimate Piss Off Industrial: Last Drinks National Focus: Around the States Politics: Radical Surgery Education: The Price of Missing Out Legal: If At First You Don't Succeed History: Massive Attack Culture: What's Right Review: If He Should Fall Poetry: If I Were a Rich Man Satire: IMF Ensures Iraq Institutes Market Based Looting
Abbott Picks Fight with Nurses Bank Hold-Ups Expose Compo Failings Della�s Dallying Could Cost Miners Ministers of Misinformation Scoop Orwells Currawong Cottages Waiting for You
The Soapbox Solidarity The Locker Room Postcard Bosswatch
In Defence of Tom
Labor Council of NSW |
News Simon Slams Big End
Unions see Opposition leader Simon Crean�s promise to hold companies more accountable for the money they pay their executives as an important first step to addressing corporate excess. In his Speech in Reply Crean promised to end the 30 per cent tax deductibility for companies making redundancy payments over $1 million. He also vowed to force executives to disclose their pay packages in full, including their share options and strengthen shareholders' rights by giving them a vote on these packages when they are unfair and unreasonable. The comments come on the eve of the release of a ground-breaking report commissioned by the Labor Council of NSW into executive pay. The report - 'The Bucks Stop Here' - by academics John Shields, John O'Brien and Michael O'Donnell examines the performance of companies in view of the salaries they pay their CEOs. A forum on the report will be held next Friday, May 23 at the Carlton Crest Hotel. Speakers will include John Shields, Opposition treasury spokesman Bob McMullan and shareholder activist Stephen Mayne. For more details contact Mark Morey at email:[email protected] Crean's New Deal Other highlights of Crean's Budget in Reply, where he cast the ALP agenda as a 'New deal' for working families, included: - doubling penalties for companies breaking the Corporations Law. - cut tax the superannuation contribution tax from 15 per cent to 13 per cent. - Oppose increases in university fees and block queue-jumping by full-fee paying students - And, commit funds to rebuilding Medicare bulk-billing, with incentives to doctors who do not charge up front fees. The ACTU welcomed the measures, saying Simon Crean's plan would help rebuild a fairer society by improving the living standards and opportunities of working people. "Low and middle income earners in particular will benefit from free GP visits, cheaper medicines and lower education costs," ACTU President Sharan Burrow says. "Giving people access to bulk billing regardless of their income would restore an essential element of Medicare and save families on average incomes from paying hundreds of dollars a year in extra GP co-payments under the government's plan. "Stopping the 30% increase in the cost of essential medicines under the government's changes to the Pharmaceutical Benefits Scheme will especially benefit working families experiencing chronic illness."
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