Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

asked the Minister for Finance and Deregulation, upon notice, on 11 March 2011:

With reference to the Monthly Financial Statements of December 2010:

(1) Is the Government still borrowing an average of $100 million per day; if not, what is the revised figure.

(2) Total liabilities for the 2010-11 financial year to December were at $388.8 billion, whereas the full year estimate for 2010-11 is $380 billion:

(a) why has this figure already reached the budgeted allocation; and

(b) does the Government plan to revise this estimate; if so, what is the new estimate.

(3) Can the estimated interest expenses of $10.5 billion for the 2010-11 financial year be confirmed and how is this estimate determined.

(4) In relation to expenses by function, fuel and energy costs for the 2010-11 financial year to December are $2.8 billion, while the full year estimate is expected to be $7.2 billion:

(a) does the Minister expect this figure to be reached; and

(b) if so, why is there such a significant increase on the first half of the financial year.

(5) What is the estimated full year draw down on the Contingency Reserve and where these funds will be allocated.

(6) The GST revenue for the 2010-11 financial year to December is $23.7 billion—does the Government expect to meet the full estimate of $49.1 billion; if not, why not and what is the updated estimate.

(7) Income tax revenue for the 2010-11 financial year to December is only $92.5 billion—does the Government expect to meet the full estimate of $214.5 billion; if not, why not and what is the updated estimate.

(8) Company tax revenue for the 2010-11 financial year to December is $26.3 billion—does the Government expect to meet the full estimate of $63.6 billion:

(a) if not, why not and what is the updated estimate; and

(b) if so, is this based predominantly on the anticipated increase in activity in the commodity sector.

(9) Can a breakdown be provided detailing the company tax paid by the industry sector.