Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Disclaimer: The Parliamentary Library does not warrant the accuracy of closed captions. These are derived automatically from the broadcaster's signal.
Financial Review Sunday -

View in ParlView

(generated from captions) Newcastle - it probably means more to them than Melbourne but I think Storm too good. They are clinical. Incredible.I'm with

Good morning. This is Financial Review Sunday. Today, the focus on families. Abbott 's promise on paid parental leave as Rudd slips further in the polls. The Commonwealth Bank reveals the new challenge to those bumper bank profits. Exclusive - to compromise deal to end the AFL doping crisis. And how healthy workers can boost the bottom line.

But first, Tony Abbott is promising every working mother six months maternity leave on full pay plus super. Dads will get a fortnight on

after July one, 2015. It comes as Labor slips further in the polls. Galaxy has the AOP primary vote down two points.

It is not good news for Labor. Laura Tingle is here. Labour 's campaign spokesperson and Finance Minister Penny Wong is here. It is less than three weeks into Australians cast their vote it is looking critically and -- pretty grim for Labor. You happy the campaign?I am happy that we are continuing to focus on things which are important and not only building for the future, which is labours positive plan for the future, but of course what is also important are the cuts Tony Abbott will have to make should he be let the Prime Minister. The paid parental skin that you describe is another example of that it is a plan for more cuts. That is what happened -- that is what will happen. The prime Minister does appear to be reactionary, even panicky, a theme which was picked up by Tony Abbott yesterday.Where is Kavanagh seven? Why have you not been able to capture the same momentum?I do not agree with the characterisation that Mr Abbott puts on the prime Minister. It is not surprising. There is no doubt we still underdog. There is no doubt that Tony Abbott, if the election was held on the day it was an out, would be the Prime Minister, which is why I think it is absolutely essential that he is transparent with the Australian people about his plans. Can I just mention the car announcement that you described. A very interesting comment by Tony Abbott in response to the Prime Minister and his announcement on this issue. He described the announcement as undignified. Tony Abbott is saying to Australians, support for Australian jobs in the auto industry is undignified. That says something very important about the man's values.The Galaxy poll out today shows 44% of voters that Tony Abbott is paid parental scheme, compared to 36% with the governments can. We're rethinking including superannuation payments? The thing is that if you want to fund something, you have to find a way to fund it. The paid parental scheme that has been announced by Tony Abbott is a plan that has to mean more cuts. Just on the figures briefed out by the Abbott 's team, you are looking at $6 billion more in expenditure over and above what they fund out of the company tax increase that they put in place to fund this.As a working mother, you must concede that the plan is very appealing to working families.It is a very expensive skin. What I would say to you as a finance minister that has had to find money for things like DisabilityCare, the schools program, there are always things that you would like to fund. The important question is how do you do it and is what you are cutting going to be worse for families and the plan that is being promised. And I have no doubt at $6 billion over and above what they are getting through their company tax levy, $6 billion with of cuts to health and education, on top of all part of their $70 billion, they have not told us that, the $70 billion worth of cuts that they have to make, will be very bad for Australian families.Is the problem here that while they still have two explain their cuts, the budget covered is better to you as well. And most of your promises like the one for the car industry and the NT special economic zone, don't actually start until after the next Parliamentary term. Is that a sign that you do not really have much money to play with and with a commitment to get back to surplus, you cannot do much.It is a sign that the government will be economically responsible and will be transparent. There is one side of politics who is being transparent with the Australian people about our economic plan and that is the Labor party. We announced before the election was called the economic statement, which put the numbers aren't there will stop the preelection economic and fiscal outlook confirmed the government 's numbers. We will continue to cost our policies as we go, as we did in the 2010 campaign, the Liberals tried to tell lies about what happened in the last campaign. We know what happened. They had an accounting firm conduct their policies.What will the carmakers have to do to get $5 million, is a blank cheque?What we have committed to is a continuation of the existing support arrangements. We are seeking to provide long-term certainty because it is that certainty that these carmakers need. And there is an existing scheme in place that Tony Abbott wants to cut between now and 2015. That is a recipe for thousands and thousands of jobs going. That's what that is. Tony Abbott is a man campaigning on a promise to cut jobs in the car sector.Getting back to the long-term promises. The Prime Minister has said you were very involved in working at the NT policy, and he is already talking about similar plans in Queensland and WA. Does that not risk opening up demands for more special on economic zones? And how you going to pay four that?We will find the savings to fund it and we will tell as to what the savings are, unlike Tony Abbott.But you have not told us it.Because we have a 5-year process that the prime Minister laid out in working through what benefit you would actually provide in terms of how you would structure the tax benefit and working out with the territories and other states. There is a process we put in place that the Prime Minister announced, but is a very sensible way of going about it. And I think if I came on here and announced that plan without any consultation with the territory, there would be equally critical.It would be smarter in future to forecast a range of outcomes rather than an explicit bottomline. In light of how wrong the figures have been from labour and the government, is it a good option to take this up? Let's remember that Treasury have a central forecast and governments are held to account on the basis of the central forecast.When you consider it?Treasury always has figures in the budget that would show what would happen if different scenarios occur. But you have to make decisions basis on a central forecast. The thing that Tony Abbott is doing is refusing to Telstra is what is your plans are. This is a bloke who has run around for three years saying ridiculous things like the country is drowning in debt. Clearly ridiculous. We have a triple-A credit rating of more ratings agencies. He is now saying to the Australian people, I am going to put our policies but I'm not going to tell you how I'm going to fund the moment going to give you a hot line. Can you imagine trying to coast into government without being transparent most basic, simple things? Is that it is completely responsible.Australia will soon decide. September seven is looming fast. One of the major debates this campaign has been over the real state of the budget and some economists say big promises from both political parties are unrealistic and unaffordable. Politicians still have not caught up to the fact that the money is simply not there. It does not matter how small the promises are that the politicians make through this campaign, chances are we cannot afford them anyway will stop and whoever wins the election, and no matter what they have been saying, you will see a large postelection task of fixing the budget.Joining us this morning is Alex Malley, chief executive of CPA Australia. Our big spending policies like Tony Abbott paid parental leave scheme, other irresponsible in light of that budget bottom-line situation?I think that focus is consistent. The tax cut, the impact on the employment scenario with more anticipation and support for married couples with children. It is within the support of a framework. Senator Wong is talked about a framework, but has not yet advised on the tax in the northern region. So we are finding the same sorts of conversations going on both sides.Tony Abbott has recruited three respected economists to verify his costings. So have been working on the opposition all year it seems. It is a smart move, considering that such dodgy figures in 2010.Governments win and lose elections. They have taken that choice to say here is some credible people that will allow us to put our costings together. In the fifth week, with not enough time to start debating numbers, we will then go into the election. They are both doing that. Treasury has talked about the sensitivity of their numbers. Labor we have seen their, and liberal as well. I think policy and framework is what business is looking for at the moment because the debate on numbers has come soap lacking in credibility. Up next, CommBank boss it Ian Narev on

This program is not captioned. If you want to find
great deals on hardware...

Go where the tradies go. VOICEOVER: Great gifts for Dad. Willow cooler pack, $50. Worx Sonicrafter set, just $99. Go where the tradies go -
Home Timber & Hardware. This program is not captioned. CommBank dominated headlines for the second week of reporting season with record profits of $7.8 billion.That is up 10 percent. The full-year dividend was $3 64. Ian Narev is positive about even stronger growth ahead. But he forecast that one of the biggest challenges could not come from one of the big banks, but from digital giants like apple and Google.They are clearly trying to get customers to do more with them and our view is that as a financial is Jewish and we have to provide the same encouragement for customers to do more with us and increasingly that provides a technology interface for people to make a track give them to keep doing business us.You are read, you are a $120 million cap. But Google is a 300 billion. How can you compare?Those companies started on the back of garages and they manage to compete. I think these are not about how much scale you have a market cap.Google has a revenue of $1.5 billion and it pays about 60.There are different ways you can configure your businesses in more than national businesses. Does not mean you can always trying to evade tax. That said, it is clearly in the context of a tax system as a whole, a very legitimate path to look down, to say that all the parties that are active in Austria doing well in Australia, making a commensurate contribution to the tax system. At it as a legitimate lens to look through.You think Australia is investing enough in technology and education and uplifting our skills? If you look across the economy, you have to say the technology in education as foundations for success in the economy are absolutely critical. I have not looked for a while at the level of overall spend in those areas in Australia, but what I will say is that these have got to be areas of focus with your thinking for the economy as a whole just about any industry.What do you think will replace the mining boom?I think the demand for resources and the impact that has on the economy is by no means gone. It is probably just off some of the decade high levels that we saw. Attention has now got to turn to some of these industries that have found it a little bit difficult because of the high dollar coming from the high terms of trade is, that is areas like agriculture, education, some parts of manufacturing, tourism. There is also concern about the Chinese economy dented its financial system. Its total social financing is 200% of GDP. It has been growing growth lending at about 20 or 30%. This has got to be the recipe for a huge blow up in bad loans, doesn't it?People are turning their minds to some of these challenges and they have a good chance of managing their way to it. But they will need to be some adjustment in the financial system and the economy.Is that open opportunity for the Commonwealth in? .We have a long-term view of China just like we have a long time view of Indonesia. When economic cycles change there can be opportunity, that is to look at the request.CPA has been very conservatively run. You probably do the same with your superannuation. Can you tell us where your portfolio is at the moment?I have a little bit of a holding in CBA. I did not hold any other stocks directly because we have clients doing things. So I just make sure that things are well-managed and are very well, conservative, and will diversified portfolio.Apparently NAV is very cheap at the moment.I am happy with my investment in financial institutions agenda. It is argued that there is not a lot of competition in the banking system, but it is interesting this fending off of competition from the on the market. How do banks do it? The large profits say to us that are in a position that we need more long bank lenders. There is no question. What respect to online, banks are nimble. They have done what more businesses should have the last few years and what the government should have done. They are in a position where they will make a decision in the medium term to either compete or collaborate with those organisations, such is the relevant state -- able to stay relevant in the market without having to reinvent the market. They have a history of that.Adapt or die. You have been speaking with the banks this week. What do they want out of this election?For their customers, they want certainty because Italy killing business for both their customers and for the bank. I think the election campaign, they will be very interested if the Coalition does win in the suggestion of a total inquiry into shape of the financial system, that Joe hockey has been talking about.

Still to come, how a healthy workforce can boost the bottom line.

This program is not captioned. If you're thinking you can't do
all the things you want until you knock down
your credit card debt, you should be thinking ANZ.

Transfer your non-ANZ credit
or store card balances to an ANZ credit card and get 0% per annum for the first 9 months. Manage your money your way. Go to anz.com/balancetransfer, call 13 33 33 or visit a branch.

This program is not captioned. Former Toll Holdings boss Paul Little was backing a new fund to buy mining accommodation. Lyons Capital is spearheading the fund, aiming to raise more than $150 million. The group plans to develop online camps and accommodation for workers and it is looking to big miners like Rio Tinto to become partners. Formal breaking news on business deals, keep across the street talk website. Are we being too pessimistic about mining, because the ANZ boss Mike Smith said he was dismissing the gloom about China, and China has been fuelling the mining boom.I think we are being too pessimistic. It is not that the mining sector is in decline, it is just going into a new phase. We have had this unprecedented investment for the last 10 years or so. We are changing now into a production phase and I think the development of these mining camps as a sign of that. The old era of the fly in, fly out workers was great when you were building those facilities, that is changing now. We are going to start seeing more stable part of the economy with mining.The families of mining workers might be happy with that as well. With mining being at a crossroads, what will business and the mining sector have to do to pickup the slack?I agree. It is a good direction and it should work very well. I think there are three levels would be to look at this. The policy level, policy consistency. The feed back internationally about the uncertainty of Australian policy is not good for business. The second level is the value chain. Australia's future is in the knowledge technology innovation area. We have to be focusing there. Ford want to see the centre of excellence in relation to motor vehicle. At the third level, transaction cost for businesses. We need to fix it. Sickies cost Australian business around $30 billion per year. That is almost $3000 for every worker. More businesses are now moving to improve the health and fitness of their workers. The stairs of JPMorgan 's Sydney headquarters have really seen this much activity. Staff are counting step is. 10,000 a day or more. As part of a 16 week challenge to get healthy.It is a longer time for people to be able to place as a pate, therefore behaviour change is therefore more prominent.JPMorgan already offers preventative health programs from flu shots to skin cancer and I checks and yearly runs. The steps challenge is new. We believe that having programs like this actually makes people more productive. We are already seeing it. We are seeing an enthusiasm and people when they come in.More than half of all Australian employees work in companies with a corporate health strategy. These will work stuff among them.A fit and healthy team is a more productive 10.This man is one of a,000 store managers in the pilot program. He has lost 30kg.We started our own garage in. There are five or six of us that all changed together. One lad has lost over 30kg.When Woolworths health check its managers, half were over weight and prematurely ageing.We have made a commitment to go back to our real age, to all become 6.4 years younger.After the trial, the country 's second largest private employer expects to roll out the program to all of its 200,000 staff.It makes very good business. Research has shown that an unhealthy person is nine times more sick and takes nine times more sick leave and healthy person. A healthy person is three times more productive.This doctor runs preventative health programs. He says the benefits are clear. Reductions in absenteeism, at a mental resilience. Better ability to cope with stress and strain. We see less staff leave the corporation that has a well-being program.And financially.Studies would seem to show that for every dollar invested, there is typically between $1.6 to $5 return on investment.An investment that seems to help everyone's bottom line. After the break, James Hird and the AFL doping charges. This program is not captioned. No doubt about it -
you will get the lowest prices and that's our guarantee. Trojan screwdriver set, only $19.98. 2-step ladder, $59. 2L Seasol twin pack, just $12.45. SONG: # Bunnings Warehouse! # Lowest prices
are just the beginning.

This program is not captioned. The AFL doping scandal is casting a dark shadow over the game, especially Essendon. We can reveal details of a compromise deal being offered to Essendon coach James Hird. Our reporter has the story. Essendon coach James Hird has finally been charged with bringing the game into disrepute -- into disrepute. Melbourne 's top brass are tearing their hair out. They want the boil Lanston now, not damaging and protract the court hearings that will inevitably still into next season. I am told the favoured option being pushed by business leaders is a no fault plea bargain, modelled on the US securities and exchange commission on dealing with insider trading. This will see heard admitting only two hierarchal responsibility, while being cleared of any direct wrongdoing. He would copy 6-month ban, Essendon will be stripped of their Essendon -- premiership points, and the club would start the season afresh. It is being called the elegant solution. If only they could get hurt spying, -- James Hird Spain.

There is a new craze sweeping the nation. Maybe I am exaggerating, but I have picked up a definite trend. It is the jawbone. It is a wristband that monitors your movement and your sleep, allowing you to gain insight into yourself. Early adopters include former News Corp Australia boss Kim Williams and Woolworths chief executive and former Launceston shelf stacker and his superintendent. Like all crazes, it started with America. The Yahoo boss gives her work is free jawbone is if they move 100 miles in 30 days. The question keeping us all awake at night, just what is Julia Gillard 's former spin Doctor John McTiernan doing for a crust. According to his Twitter profile he has moved into a whole new industry. Thinking. He has repackaged himself as a writer, thinker, strategist. Really, he is returning to his roots. Adelaide wants paid him to be an official thinker in residence. So much for free thinking.

Before we go, let's take a look at what is coming up for this week. On Tuesday, BHP Billiton will release its final year results. Coca-Cola Amatil will release its interim results on the same date and Echo Entertainment reports on Thursday, with rival crown on Friday. The campaign is obviously the focus will stop what you expect in.This government is flatlining. It can only go down from here. Their focus is to be on being statesmanlike, rather than reactive. They have to prove they can be different.Key think the Labor party are delusional customer can turn this around in the polls?The underlying trend is that they are not moving. It is a losing margin for labour. They are going to have to really kill off the credibility of Tony Abbott is paid parental leave scheme and go on the attack with some positive policies. That is financial review Sunday for this week. In Q2 our panel. We would love to hear from you too.

You can watch the show again on our website. Thank you for your company.

This program is not captioned.

This program is captioned live. What a show we have for you today. Tiger Woods's ex-coach Hank Haney, gives us some tips. Torah Bright looks forward to Sochi. We have exclusive access to the Carlton football club. Highlights from the Bledisloe Cup. Sally Pearson and plenty more.

Hello. It is great to have your company. A staple part of every Australian home on a Sunday morning. It is great to see you. You as well. It is a great week for sport.The people at home can get involved.You can have your say. Twitter or downloading the app. We want your feedback. Have your say today. It will be a mammoth show. We have Darren Lockyer in one second. We will have to discuss the AFL. " played over the weekend.

Damian Barrett, welcome.The other result that caused talks, the Essendon lost to North Melbourne.

We will get to that in a moment. Carlton and the Tigers. A big start. Somewhat disappointing. There were nervous moments sent through the Richmond camp. They had an amazingly good quarter yesterday. We saw Nick Riewoldt. They were getting eight goals onto the board. From that moment on, Mick Malthouse changed things up. Bryce Gibbs, the best game under Mick Malthouse. Brock McLean had a good quarter. He was instrumental. It put nervous moments back into the Richmond camp heading into September. A team like Carlton, not going too well until that point, put to the sword yesterday.They were fantastic. We have an exclusive behind the scenes look at the Carlton camp. As you mentioned, Essendon, an awful week. From bad to worse. At the mercy at North Melbourne. The men behind me is pretty happy.North Melbourne can either match it or defeat the team in eight outside Fremantle. For North Melbourne not to be playing in September this year, it is a result result for the footy club. Given the sort of form they produced yesterday. Daniel Wells has stepped up. Jackson never was a late withdrawal yesterday. Andrew Swallow has been out on the scene. That was Nathan Grima to's first goal. It was well celebrated. They could sit as at eight on certain configurations. They have the hearing with the AFL Monday week. Supreme Court action is almost inevitable before that particular date.Don't get better about things. A lot of people thought West Coast where the favourites in the game. They were pounded by the Cats.A really interesting development in this season. Joel Selwood's ability to kick goals has been interesting. He kicked multiple goals. It has not been an facet of his play. He has

goals. It has not been an facet of
his play. He has been an extraordinary player.

goals. It has not been an facet of
his play. He has been He his play. He has been He is his play. He has been He is adding goalkicking to his brilliant repertoire. It is an addition to the Cats. It's hard to see them losing second spot on the ladder. They need a demolition job. One game at half the third spot they almost got second spot locked in. It was bad to worse for West Coast. It was a season that they thought was going to end in a preliminary finals. They will not play on September.

The The 'Sunday

The 'Sunday Footy

The 'Sunday Footy Show' The 'Sunday Footy Show' will The 'Sunday Footy Show' will be

The 'Sunday Footy Show' will be a

beauty. beauty. We

beauty. We have

beauty. We have to beauty. We have to get beauty. We have to get onto

beauty. We have to get onto the NRL. Darren Lockyer will be a special guest. Will this be a year for the Robert Rose Cup to my -- rabbit toes?

Jamie

Jamie Lyons, Jamie Lyons, sprinting Jamie Lyons, sprinting in.

Nathan Merritt!

It

It was It was a It was a fantastic It was a fantastic game

It was a fantastic game on It was a fantastic game on Friday night

night between

night between the night between the rabbit

night between the rabbit toes

night between the rabbit toes and the Sea Eagles. A superb was he?It is medical incidents. He is the X factor. He needs to be on the field. It's good to see them back winning.It was an impressive win by them. That start with the Dragons taking on the Sharks last night. The first time the Sharks had won in Wollongong. In something like... 24 years.

had won in Wollongong. In something
like... 24 years. like... 24 years.The like... 24 years.The Dragons

like... 24 years.The Dragons got off to a flying start. The Sharks had to work their way back into the game. With 15 minutes to the game, it looked unlikely. There was a fortunate bounce off somebody's had. Late in the second half, the Sharks working in. They wanted to work for it. A good effort from Luke Lewis. What an extraordinary effort.It was a last-minute try. Amazing.He is a big man and agile. He is quite smart. The Cowboys fans have been asking things. Yesterday, they kept their slim finals hopes alive. The Titans and a couple of injuries. The Cowboys, who knows? With Johnathan Thurston out, they might sneak in there and cause a few headaches for the big teams.

full pay to for every baby born