Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Current HansardDownload Current Hansard   

Previous Fragment    Next Fragment
Monday, 30 May 1994
Page: 844

Senator KNOWLES —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

  (a)notes that:

    (i)the Prime Minister (Mr Keating) and the Treasurer (Mr Willis) have argued that much micro-economic reform is the responsibility of the States,

    (ii)in order for the States to carry out that reform they must get a far greater share of revenue from the economic recovery,

    (iii)the 1994-95 Budget fails to deliver a fair share of revenue to the States; the forward estimate of the Budget indicates that Commonwealth revenue is expected to grow by 34.4 per cent in the 1993-94 to 1997-98 financial years while the total grant to the States is expected to grow by only 8.4 per cent over the same period, and

    (iv)table 2.4 of Budget Paper No. 1 indicates that the States and the local sector are producing the goods in terms of fiscal reform; their net public sector borrowing requirements (PSBR) are expected to be in surplus in the 1994-95 financial year while the Commonwealth is expected to achieve a large and unsustainable net PSBR of 3.6 per cent of gross domestic product; and

  (b)in view of this situation, supports the call by the Western Australian Premier (Mr Court) for a fair share of revenue and for the Commonwealth to bear its share in the necessary process of fiscal consolidation.