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1

ESTIMATES COMMITTEE A : 11/10/1991 : DEPARTMENT OF THE TREASURY : Program 6-TAXATION ADMINISTRATION : Subprogram 6.1-Income Tax : [Senate Estimates]

CHAIRMAN -I declare open this public hearing of Estimates Committee A. I advise all witnesses that the Committee has approved the broadcast and rebroadcast of today's proceedings, subject to the rules contained in the Senate order of 23 August 1990. The Committee will now continue with examination of the estimates for the Treasury portfolio.

Date: 11/10/1991 - Collection: Committees - ID: committees/estimate/ecomd911011a_eca.out/0005 - Source: SENATE

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ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : [Senate Estimates]

CHAIRMAN -I declare open this public hearing of Estimates Committee A. I should advise all witnesses that the Committee has approved the broadcast and rebroadcast of today's proceedings, subject to the rules contained in the Senate order of 23 August 1990. The Committee will now commence the examination of the estimates for the Department

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0003 - Source: SENATE

3

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 1-BUDGET DEVELOPMENT AND MANAGEMENT : Subprogram 1.1-Budget Coordination : [Senate Estimates]

SENATOR SHORT -On page 16 the Department says that because of the nature of the decline in the Budget surplus-that is, as a result of the cyclical downturn-no discretionary changes to fiscal policy were made to offset the cyclical deterioration. Would you agree that the Budget deficit, whilst there obviously is a cyclical component

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0006 - Source: SENATE

4

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 1-BUDGET DEVELOPMENT AND MANAGEMENT : Subprogram 1.2- Oversight and evaluation : [Senate Estimates]

SENATOR SHORT -There is a substantial increase in the staffing resources shown on page 22; an extra 25 staff years-about 12 per cent for this year. What is the reason for that? MR THORN -The same question occurred to me when I first read the figures. That figure for staff years is wrong.

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0008 - Source: SENATE

5

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 1-BUDGET DEVELOPMENT AND MANAGEMENT : Subprogram 2.1-Resource Management Practices : [Senate Estimates]

SENATOR SHORT -On page 35 of the document the Audit Report No. 23 was critical of the Department of Finance for failing to gauge the effectiveness of FMIP across all government departments, whereas the Department takes the view that, consistent with FMIP reforms, it is the prime responsibility of the portfolios and program managers

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0010 - Source: SENATE

6

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 4-RETIREMENT BENEFITS : [Senate Estimates]

SENATOR SHORT -First of all, I want to refer to the fact that the Government was required to move a number of amendments in the form of the Superannuation Legislation Amendment Bill in May to the new superannuation legislation. I recognise that they were technical rather than matters of real substance. In view of

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0015 - Source: SENATE

7

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 5-SPECIFIC PAYMENTS AND RECEIPTS ACTIVITIES : [Senate Estimates]

SENATOR SHORT -I wanted to ask a couple of general questions about act of grace payments first because most of my questions are in relation to the asset sales. Am I correct in my understanding that in relatively recent times there has been quite an increase in the number of act of grace payments

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0017 - Source: SENATE

8

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 6-CORPORATE SERVICES : [Senate Estimates]

SENATOR SHORT -What were the total costs of redundancy payments by the Commonwealth in 1990-91? If I have missed the correct agency perhaps I could put the question on notice. MR BARRETT -We cannot provide you with that information. In essence, we would have to go around every one of the agencies to

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0019 - Source: SENATE

9

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF FINANCE : Program 7-AUSTRALIAN NATIONAL AUDIT OFFICE. : [Senate Estimates]

SENATOR SHORT -There were many questions I would like to ask the Audit Office, but in view of the time I will truncate them today and pursue some of them on another occasion. I presume this is a question I should ask the Audit Office: I am particularly interested to know what the

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0021 - Source: SENATE

10

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF THE TREASURY : Subprogram 1.1-Macroeconomic : [Senate Estimates]

CHAIRMAN -I welcome Senator McMullan and officers from the Department of the Treasury. We had not concluded program 1 when we left off, so we will resume our examination of program 1. Senator SHORT-On page 29 of the explanatory notes there appears the objective of the subprogram which states: To align macroeconomic policy

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0024 - Source: SENATE

11

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF THE TREASURY : Subprogram 1.2-Structural : [Senate Estimates]

SENATOR SHORT -In subprogram 1.2 on page 51 you refer to the difficulty of measuring performance information. We discussed this the other day and I do not want to take up too much time on this matter. I presume you mean measuring performance in this area or providing information that allows performance to be

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0026 - Source: SENATE

12

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF THE TREASURY : Subprogram 1.3-Debt Management : [Senate Estimates]

SENATOR SHORT -You have a funding task of approximately $11 billion this year which, as you point out on page 61, is the largest such program since 1983-84. Do you have a timetable for that program? MR HYDEN -No, the program will be spread throughout the financial year. The Budget Statements indicated that

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0028 - Source: SENATE

13

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF THE TREASURY : PROGRAM 2-FINANCIAL SYSTEM : [Senate Estimates]

SENATOR MCMULLAN -Perhaps we should deal with the Insurance and Superannuation Commission separately. Page iii lists subprogram 2.1 in two parts: the Financial Sector Policy and Administration (Departmental) and the Financial System (Insurance and Superannuation Commission). It may be better if we also treated them separately. SENATOR SHORT -Do you want to deal with

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0030 - Source: SENATE

14

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF THE TREASURY : PROGRAM 2-FINANCIAL SYSTEM : Subprogram 2.3-Non-Budget dependent statutory bodies : [Senate Estimates]

SENATOR SHORT -With the Commonwealth Bank float and the prospectus, why was the decision made not to include, in the prospectus, profit projections for the following year? MR POOLEY -The decision was made by the board of the Commonwealth Bank, and the overall prospectus was approved by the Treasurer. SENATOR SHORT -So it

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0032 - Source: SENATE

15

ESTIMATES COMMITTEE A : 25/09/1991 : DEPARTMENT OF THE TREASURY : PROGRAM 2-FINANCIAL SYSTEM : Subprogram 2.1-Financial sector policy and administration (departmental) : [Senate Estimates]

SENATOR SHORT -I want to ask some questions about the freeze on unlisted property assets. Does that come into your area? MR POOLEY -Yes, it does. SENATOR SHORT -Why did the Government freeze the redemption of funds of unlisted property trusts for 12 months? MR POOLEY -The reasons are all set out

Date: 25/09/1991 - Collection: Committees - ID: committees/estimate/ecomd910925a_eca.out/0034 - Source: SENATE

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