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Thursday, 5 March 1998
Page: 458

Senator NEWMAN (Social Security) (10:17 AM) —I will read to you the explanation for the change which is in the corrigendum, rather than try to tell you from my own notes. It says:

The amounts set out in the Financial Impact Statement when the Bill was introduced were expressed in 1997 dollar values, based on AUSTUDY and Department of Social Security customer numbers for 1996. However, since that time, the youth allowance initiative has been recosted using out-turned dollar values and recent projections of potential youth allowance customer numbers. In addition, extra expenditure will be incurred in 1997-98 converting payments to students to a fully retrospective basis ($14 million) and in making a one-off payment in 1998-99 of family allowance in respect of young people attracting more than minimum rate family allowance as at 18 June 1998 ($0.05 million).

If you have a copy of the corrigendum you will see where I have read that from.