Harvey touts experience in pitch to business

Liza Harvey has positioned herself as a reliable ally for WA businesses, outlining an agenda prioritising job creation and economic diversification at a Politics and Policy breakfast today.

State opposition leader Liza Harvey understands the challenges she and her party face next year.

With just 13 seats in state parliament, the Liberal Party WA, which Mrs Harvey has led since July of last year, will need to win a uniform swing of 7.8 per cent at next year’s election if it hopes to form government, according to ABC psephologist Antony Green.

Facing those daunting numbers daily, Mrs Harvey came to today’s Business News Politics & Policy breakfast eager to make the case to the room of business leaders that she was best positioned to lead the state through tough economic times.

Though her pitch included criticisms of the current state government’s approach to international education, tourism and infrastructure, it was Mrs Harvey’s invocation of her late husband, Hal, and their business Bluewater Tackle that proved most instructive to her positions.

Discussing her background running a business that, at its peak employed around 50 people, she argued that experience dealing with increased compliance costs, high rents and energy price

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Sovereign wealth funds may cut down India play as oil prices drop

The slump in could curtail overseas money coming into India from some of the wealthy oil producing countries through their (SWFs).

Countries such as Saudi Arabia, Kuwait, Norway, and Canada may bear the brunt of the recent dip in These countries invest significantly through SWFs in India. The assets under custody of SWFs in Indian equities totalled Rs 1.82 trillion, shows the data from NSDL.

Norway, for instance, depends on oil and gas for more than a third of its exports and reportedly risks slipping into recession for the first time since the 2008 financial crisis. Norway’s Government Pension Fund Global, the biggest SWF in the world, has increased its India bets to $9.4 billion at the end of 2019, reveal annual disclosures.

A steep drop in can fuel a risk-off sentiment. This can lead to (FPI) outflows. FPIs have sold shares worth nearly Rs 33,000 crore in the last 12 sessions; any redemptions from SWFs, which are typically long-term investors, could exacerbate the situation.

ALSO READ: Oil prices fall as Saudi moves to boost output amid price war

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Essar Group plans to cut residual debt by 70% to Rs 12,000 crore

The Ruia-owned has entered the final leg of its deleveraging exercise as it plans to cut residual debt by 70 per cent to about Rs 12,000 crore post sell off of its oil and steel business.

From Rs 1.83 trillion of debt in FY17, the group has brought down the debt by a staggering Rs 1.40 trillion over the last three years. Now, it plans to cut residual debt from Rs 42,000 crore to about Rs 12,000 crore, said in a mailer sent to policymakers and bureaucrats.

After the proposed reduction of debt in the power business by over 60 per cent (Rs 12,000 crore), and similar deleveraging across its portfolio businesses, would have almost cleared all its long-term debts, said the mailer.

The balance Rs 30,000 crore debt is the working capital requirement of the group in its fully operational assets. The group is poised to embark on a new phase of growth while driving growth in its existing portfolio, the mailer said.

Group promoters– Ravi Ruia and Prashant Ruia have jointly signed the mailer. Post sell-off, the group holds

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How Research & Development (R&D) tax relief works for startups

Startup companies especially those in the technology and sciences niche often have brilliant business proposals in mind.

However, most of them lack enough financial support. Fortunately, there are plenty of ways you can finance a startup business. One of which is through a research and development tax credit.

A long time ago, only large and well-established companies who contribute significant knowledge to their industry can file and claim research and development tax credit. Nowadays. even small and medium-sized companies can claim this type of tax credit.

It’s provided to companies who develop or improve products, software and/or processes in a certain group of industries. The government only supports startups including physics, chemistry, biology, computer science and engineering. It’s a government-provided incentive that can be used to reduce the R&D cost.

How does it work?

With the help of this tax credit, you can get back 30% of your R&D costs as cash. Alternatively, you can use it to decrease your tax bill.

While this type of credit was introduced sometime in 2000, many startup companies in the UK don’t know how to use it. You can use this credit as an alternative to innovation grants. Also, you use it to

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