Business News

5 things you need to know today

1. Senior Labor figures will review the party's policies on franking credits, negative gearing and climate change according to a report by The Sydney Morning Herald. "People are looking for solutions rather than arguments, and they’re looking for what unites the community rather than what divides it," Anthony Albanese said.

2. Albanese suggested yesterday that Labor is not planning to support the Coalition's high-income tax cuts. Treasurer Josh Frydenberg responded and said that "if Labor fails to back our tax relief in full, they will have failed to listen to the voters and reminded the Australian people that Labor’s class warfare is not over yet".

3. A survey has found that voters who supported the Coalition at the Federal election were motivated by economic management (25% of those surveyed), tax (23%), health (12%) and franking credits (11%). JWS Research's survey of 1,000 voters also found that those who voted for Labor were motivated by climate change (30%), health (29%), education (22%) and the environment (12%).

4. Barnaby Joyce has told The Australian that he has "zero prospects" of getting a position in Scott Morrison's cabinet, with the PM expected to announce a cabinet reshuffle in the near future.

5. Trade war fears drove Wall Street stocks down again, with the Dow Jones closing 1.11% lower on 25,490.47, the S&P 500 dropping 1.19% to 2,822.24 and the Nasdaq closing 1.58% lower on 7,628.28.

Published on: Friday, May 24, 2019

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