You are here

Turnbull brings forward budget to May 3 as early election looms

Monday, March 21, 2016 - 08:39

turnbull17.jpg
Australia's Prime Minister Malcolm Turnbull brought forward the federal budget announcement by a week to May 3 and threatened to call an early election unless the Senate passes legislation to crack down on trade unions.

[SYDNEY] Australia's Prime Minister Malcolm Turnbull brought forward the federal budget announcement by a week to May 3 and threatened to call an early election unless the Senate passes legislation to crack down on trade unions.

Mr Turnbull said militant union activity was acting as a "handbrake on growth" and said a so-called double dissolution election will be held on July 2, unless bills to restore a building industry watchdog and set up a commission to regulate unions are passed.

The prime minister, who has seen the Liberal National coalition's opinion poll lead evaporate in recent weeks, is seeking to make industrial relations a key election platform. With the construction industry crucial to maintaining jobs and growth in the economy as a mining investment boom wanes, the former investment banker is betting he can pressure the main opposition Labor Party with the issue and win over more voters.

BLOOMBERG

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom