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Thursday, 31 May 1973
Page: 3068


Mr Mathews asked the Treasurer, upon notice:

Can he give information for 1969-70 and subsequent years on revenue, debt charges and percentage of debt charges to revenue in respect of local government authorities comparable to that given by his predecessor on 31 May 1972 (Hansard, page 3430).


Mr Crean - The answer to the honourable member's question is as follows:

The Commonwealth Statistician has provided the following table, which presents the details requested for the years 1967-68 to 1970-71 inclusive, 1970-71 being the latest year for which' this information is available.

The collection of data which formed the basis of the information given by my predecessor on 31 May 1972 (Hansard, page 3430) has been discontinued. The following table has been prepared on a basis not comparable with the former information. These new figures, which are consistent with figures for local authorities presented in the Bureau publication 'Public Authority Finance - State and Local Authorities' (Ref. No. 5.43), are regarded as more accurately reflecting the charge that debt servicing makes against current receipts of local authorities. In particular, redemptions which were previously included in debt charges have been excluded because these are normally regarded as an offset to new loan raisings rather than as a charge against revenue.

 

 

(a)   Consists of taxes, fees, fines, etc.; public enterprises' gross operating surplus, interest received on bank balances and rents, etc.; grants from States; and fees and charges for goods and services.

(b)   Figures include transactions of County Councils, and relate to financial year ending 31 December.

(c)   Relates to financial year ending 30 September 1970.

(d)   Consists of interest paid on loans and on overdrafts less interest received on investments.







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