Let’s party like it’s 1999 as republicans get a federal Labor boost

It’s beginning to look a bit like the late 1990s. Labor has appointed Matt Thistlethwaite as Assistant Minister for the Republic, with a referendum on Australia’s head of state on the cards for the party’s potential second term.

A new government and an ageing Queen could spell trouble for Australia’s monarchists. And while it’s early days, so far it’s the republican side with all the firepower – ex-Socceroo turned human rights advocate Craig Foster is the latest big name to throw his weight behind the republican push, which counts Herald columnist Peter FitzSimons and former prime minister Malcolm Turnbull as key supporters.

Assistant minister Matt Thistlethwaite says the republic is a two-term proposition for Labor.Credit: James Brickwood

Meanwhile, it’s all looking a bit pale, male and stale on the side of constitutional monarchy, with many of its staunchest defenders ageing into obscurity – when did anyone last listen to David Flint?

But the monarchists insist they’re not panicking, and believe a youthful silent majority could be won over to the crown. Australian Monarchist League national spokesman Phillip Benwell says a third of their members are younger folk.

Ready to engage: Peter FitzSImons and Tony Abbott.Credit: Shakespeare

“We’re virtually swamped with people in their 20s,” he told CBD.

Victorian Young Monarchists Chairman Jeremy Mann reckons they’ve got a good team of young people taking the fight to republicans.

“There’s a growing trend of young people dissatisfied with politics and politicians. The Labor model puts decision-making into the hands of politicians,” he told CBD.

Oh, and they’re also planning to get on TikTok.

What the monarchists lack is a national figure with the political dynamite to take on Malcolm and Fitz. NSW Transport Minister David Elliott, who led Australians for Constitutional Monarchy during the 1999 referendum, all too often seems to make headlines for the wrong reasons.

But one name keeps popping up – former prime minister Tony Abbott. We’ve heard he’s working for the Monarchist League in an advisory capacity along with a bunch of other illustrious formers – ex-Liberal Senators Nick Minchin, Santo Santoro and recently-vanquished Eric Abetz. Who said constitutional monarchy wasn’t cool?

WHO LEAKED? DON’T ASX

Eyebrows were raised in business circles on Thursday after news the Australian Stock Exchange hiring of new chief executive Helen Lofthouse got out via the Australian Financial Review’s illustrious Chanticleer columnist Tony Boyd.

Under Australia’s continuous disclosure rules, companies must tell their shareholders about that sort of price sensitive information before it goes public and the exchange says it had nothing to do with Boyd’s story and does not know how the news leaked.

But the episode is awkward because as well as being a company listed on its own exchange, the ASX is also the market regulator, responsible for enforcing those disclosure rules.

It was only a year ago the exchange sought a “please explain” from Regional Express Airlines (aka Rex) after its deputy chairman John Sharp revealed plans to expand its domestic operations in an interview with the AFR (that man Boyd again).

These letters, or “ASX Aware Queries”, cause a company’s management a bit of stress and can lead to all sorts of consequences. Rex copped a $60,000 fine from the corporate watchdog for its alleged indiscretion.

The Lofthouse article made it into Thursday’s print edition of The Fin (owned by Nine News and Entertainment, publisher of the Herald). The exchange remained closed for trading until after the company officially notified shareholders of the news at 8.21 am, so there was no chance for anyone to turn a profit on the knowledge.

But Boyd’s scoop has led to renewed chatter among market watchers – all of whom declined to be named because of fear of the punitive action from the ASX – that perhaps the exchange might not be able to regulate itself.

Lofthouse replaces Dominic Stevens, who left the group after two major outages and delays in the roll-out of its new settlement process.

That led market participants and parliamentarians to question whether the ASX should face a little more competition in the market operator space.

An ASX spokesman told CBD that “the information was leaked by an unknown source”.

“ASX did not provide information about the appointment to any media before the announcement was released to the market this morning.”

GO, GARY, GO

The talk around Canberra is that Australian Charities and Not-for-profits Commissioner Gary Johns could be resigning soon.

Johns was a minister in the Keating government, before joining the libertarian Institute for Public Affairs and working as a tobacco lobbyist in his parliamentary afterlife.

Since his 2017 appointment to the ACNC, Johns has drawn frequent criticism from Labor, with incoming assistant charities minister Andrew Leigh a particularly consistent, strident judge.

Johns’ appointment to oversee the charity sector was, according to Leigh “like putting Ned Kelly in charge of bank security”.

The commissioner’s past comments won’t have helped his case with the new government either – he infamously once referred to Indigenous mothers on welfare as “cash cows”.

WE’LL ALWAY HAVE LOULOU

In tough times, it’s always best to stick together.

That’s why CBD wasn’t surprised when deposed Liberal member for North Sydney Trent Zimmerman was spotted lunching with former foreign minister Marise Payne, at Loulou bistro, a new offering in the genteel harbourside locale of Milsons Point.

There was much to commiserate over. Zimmerman lost his Liberal heirloom seat to Kylea Tink, while Payne could be demoted to the backbench. We hope they found solace in the Parisian-inspired menu.

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