From: brad@winnie.cs.adelaide.edu.au (Brad Alexander )
Newsgroups: soc.culture.australian
Subject: Reposted oznews, 29th of August 1992.
Date: 3 Sep 92 01:41:17 GMT

There has been a bit of news since I've posted this. 
The Premier of South Australia, John Bannon has resigned over the problems
facing the state bank of South Australia (namely the $3.1 billion so far committed
to its rescue). 

A ship containing hazardous waste (PCB's) from Western Australia has been 
turned back from France and may be turned back from Antwerp. It may have to 
come back to Australia (there is talk of using a method that is safer than
incineration to neutralise the waste if it comes back). 

Some areas around Adelaide have been subjected to flooding over the past 
few days. Two people died after their tent was swept out of a caravan park 
by floodwaters. Some houses have been hit by mudslides. 

Some potholes have had to be repaired in Sydney's new harbour tunnel only days 
after its opening (it is otherwise ok). 

-------------------
             News from "The Weekend Australian" 29-8-92
             ------------------------------------------
"Court opens the door on poll ad wars"- The High Court has thown out
Labor's law banning political advertising - a humiliation for the
Government but one which will help it wage a savage electronic fear
campaign against the Leader of the Opposition, Dr Hewson, and the goods and
services tax at the next election. 
  After the High Court struck down the law yesterday, Dr Hewson issued a
warning Labor would mount "the mother of all lie campaigns" at the 1993
federal election. 
  But the national secretary of the ALP, Mr Bob Hogg issued a caution to
his party that an advertising campaign alone would not win power. 
  In a measure of the extent to which Labor now trails the Coalition, Mr
Hogg said Labor would have to win the political debate over the
Opposition's goods and services tax before the election campaign if it was
to have a hope....
-------------

"Coalition to scrap ready reserves"- The ready reserve scheme, one of the
Federal Government's key defence intiatives in last year's force structure
review, would be scrapped under a Coalition government. 
  The plan to be detailed in the Opposition's forthcoming defence policy
will divert resources now earmarked for the Ready Reserves, including some
of the $50 million allocated for equipment costs, to fund an overhaul of
the 39,500-member general Reserve force.
  The Ready Reserve scheme was announced by the Government last year to
create a cost-effective and better trained arm of the Reserve force,
numbering 4100, which could reach operational readiness and be deployed
more quickly than general Reserves...
-------------

"Foreign debt strikes $150bn"- The nation's foreign debt has climbed past
$150 billion after expanding almost six times more quickly than the general
economy during the past financial year.
  Net foreign debt grew $3.69 billion over the June quarter and $12.84
billion over 1991-92 to reach a record $150.05 billion at June 30, figures
released by the Australian Bureau of Statistics show. 
  Debt grew 5.87 times more quickly than output of goods and services - 9.4
per cent compared with 1.6.
  The result underlines the legacy of the debt binge of the 1980's that is
limiting the options for government and business to help the economy
recover more quickly. 
  Most of the extra debt represents new loans taken out to pay the interest
on existing obligations to foreigners, while falls in the value of the
Australian dollar accounted for 12 per cent in the overall rise in debt...
  The only encoraging news is the cost of the debt is soaking up the
smallest proportion of the nation's export income in almost four years.
The proportion of exports needed to service debt fell to 16.4 per cent -
the lowest level since December 1988 and 4.5 percentage points down on the
September 1990 peak...
-----------

"Hewson on offensive over care makers claims"- The leader of the
Opposition, Dr Hewson, yesterday stepped up his war of words with
car-makers by effectively labelling Toyota's critisisms of the Fightback
package a bluff to win further government favours. 
  Dr Hewson said Toyota's warning that the car industry would be wiped out
under a zero tariff policy had to be balanced against its decision to
announce a $400-million plus investment for Melbourne last year.
  Dr Hewson went on the offensive for the second day to counter industry
criticism that the Coalition's tarrif policy was dogmatic and to answer the
charge of the Prime Minister, Mr Keating, that the Coalition was promoting
a primitive capitalist ideal....
  On Thursday Mitsubishi Motors Australia Ltd joined Toyota, Ford Motor Co
Australia Ltd and General Motors-Holden's Automotive Ltd in Criticising the
Coalition's policy.
  Dr Hewson said yesterday his solution for the car industry was to get
government out of its way by cutting costs up front, before speeding up
tarrif cuts to between zero and 5 percent by the end of the decade...
------------

"Return to old routine for Bond"- Alan Bond spent his first full day out of
jail yesterday having a haircut, visiting his son's new business, eating a
counter lunch and talking to lawyers...
  After a 2-1 decision by the Court of Criminal Appeal, Bond was released
on Thursday from Woorooloo prison farm. 
  Although the West Australian Director of Public Prosecutions, Mr John
Mckechnie QC, was not talking yesterday, it is understood the office
intends to proceed with a new trial.
  Bond was convicted in May of dishonestly inducing, or attempting to
induce, Perth businessman Mr Brian Coppin to take part in the ill fated
Rothwells Ltd rescue in October 1987.
  He was sentenced to 2 1/2 years' jail. The decision was overturned when
the appeal court ruled fresh evidence meant a new trial should be held. 
  The evidence involved a witness who told the Court of Criminal Appeal
last month that Laurie Connell, the former Rothwells chairman, had told him
he intended lying at Bond's court case.
--------- 

"ICAC accepts Greiner decision"- The NSW Independent Commission Against
Corruption announced yesterday it would not appeal against the decision of
the NSW Court of Appeal clearing the former premier Mr Nick Griener of
corrupt conduct in the Metherall affair.
  ICAC issued a brief statement yesterday saying that while there were
"various interesting questions" surrounding the case, to appeal to the High
Court would only drag out the controversy and consume public funds...
----------

"Independents back Bannon till bank report"- The Premier of South
Australia, Mr Bannon, yesterday passed the first hurdle to staying in power
after a State Budget that could take debt past $8 billion, but still faces
three months of acute uncertainty about his leadership. 
  The three Independent Labor MPs keeping the minority Bannon Government in
power yesterday reaffirmed their support for Mr Bannon, for now despite
greater pressure from the Liberal Opposition....
-----------

"Exporters smile as dollar slumps"-The big sell-off in the Australian
dollar had the heavies in the Keating Government out in force this week
talking up the currency's prospects.
  But the potential for an even lower dollar has pepped up exporters,
especially the rural, mining, and manufacturing fraternity.
  A fall in the dollar makes their prices more competitive overseas.
  The dollar fell to four-year lows against the United States dollar and a
basket of currencies reflecting Australia's trade. In the past year the $A
has fallen 10 per cent against the $US, 25 per cent against the Deutschmark
and 17 per cent against the yen...
  
              News from "The Advertiser"(Adelaide) 29-8-92
              --------------------------------------------

"Unflagging activists"- Hobart: Aboriginal activists threatened to abandon
a conference venue yesterday when managment too two of three Aboriginal
flags down. 
  An Aboriginal Provisional Government spokesman said it was "demeaning"
for the Aboriginal flag to fly next to the Tasmainian and hotel's flags. 
---------

"Daintree road upgrade"- Brisbane: Premier Wayne Goss has promised to
upgrade the controversial costal road through the Daintree rainforest in
far North Queensland.
  Mr Goss yesterday announced a $6.8 million project to convert the
unsealed track to a major tourist route.
---------

"Fijian PM on tour"- Sydney: Fiji's Prime Minister Major General Sitiveni
Rabuka starts a formal visit to Australia today.
  The Prime Minister, Mr Keating, extended the invitation to him at the
recent South Pacific Forum.
---------

Brad Alexander.
Newsgroups: soc.culture.australian