Your morning Briefing: ALP ‘locks in’ shipping fleet, MUA believes

Your 2-minute digest of the day’s top stories and must-reads.

Hello readers. The maritime union believes Bill Shorten will mandate a bigger Australian shipping fleet, and Will Pucovski misses out on Test selection against Sri Lanka.

14/12/16 CFMEU national secretary Michael O'Connor (left) and MUA national secretary Paddy Crumlin are signing a memorandum to merge country's most militant unions. Aaron Francis/The Australian

ALP ‘locks in’ shipping fleet

The Maritime Union of Australia is “absolutely convinced” Bill Shorten’s Labor will mandate an increase in ­Australian-flagged and crewed ships if it wins government, prompting warnings the move will drive up business costs. The MUA also believes a Shorten government will establish a “strategic fleet” of commercial ships that could ­support the navy in a conflict.

-

Grant Schultz at his Mollymook Beach home, he is disappointed at the news the Federal Liberal party had endorsed Warren Mundine as the candidate for the critical seat of Gilmore. PIC: Sam Walklate

Dumped Lib ‘bullied way in’

A feud over Liberal preselection in the federal NSW seat of Gilmore erupted yesterday when Scott Morrison defended his captain’s call to install Warren Mundine and ­accused the previous candidate of attempting to “bully” his way into the seat. Dumped candidate Grant Schultz, the son of Liberal stalwart Alby Schultz, responded by calling the Prime Minister a “coward”, while rank-and-file Liberal members accused him of using the state executive to impose Mr Mundine on the electorate.

Chris Kenny, meantime, suggests Mundine’s appointment will be great for national affairs.

-

Australia banknote and stacks of coin for savings money concept. Generic cash - notes, fifty dollars

Franking ‘distortion’

The chief economist for the government’s 2014 Financial System Inquiry has called for dividend franking credits to be overhauled, hitting out at the “significant economic distortion” created by excess credit refunds for investors who pay no tax. Kevin Davis, a professor of finance at University of Melbourne who was a panel member on David Murray’s landmark financial system review, said dividend imputation was designed to prevent double taxation of corporate profits.

“It wasn’t meant to lead to zero taxation of corporate income which occurs when dividends are paid to investors on zero marginal tax rates and rebates paid.”

Kevin Davis

-

Nick Sandmann speaks on NBC's Today show. Picture NBC.

‘I had every right’

The teen filmed in a stand-off with a Native American in Washington has refused to apologise for his actions but says he wishes he had walked away from the encounter. Nick Sandmann, who was filmed standing silently smiling as Omaha elder Nathan Phillips banged a drum and sang just inches away, told NBC: “I had every right,” as he defended his behaviour.

-

BRISBANE, AUSTRALIA - JANUARY 23: Kurtis Patterson of Australia poses during an Australian Test team portrait session at The Gabba on January 23, 2019 in Brisbane, Australia. (Photo by Ryan Pierse/Getty Images)

No Pucovski

Will Pucovski has been denied the chance to play his debut Test. But Kurtis Patterson and Jhye Richardson are in.

-

Johannes Leak’s view