Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Economics Legislation Committee—Senate Standing—Additional estimates 2020-21—Report, dated April 2021


Download PDF Download PDF

April 2021

The Senate

Economics Legislation Committee

Additional estimates 2020-21

© Commonwealth of Australia 2021

ISBN 978-1-76093-211-4

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 4.0 International License.

The details of this licence are available on the Creative Commons website: https://creativecommons.org/licenses/by-nc-nd/4.0/.

Printed by the Senate Printing Unit, Parliament House, Canberra.

iii

Contents

Members ............................................................................................................................................... v

Acronyms and Abbreviations ........................................................................................................ vii

Chapter 1—Overview ......................................................................................................................... 1

Documents referred .................................................................................................................. 1

Additional estimates hearings ................................................................................................ 1

Questions on notice .................................................................................................................. 2

Report structure ........................................................................................................................ 3

Chapter 2—Key issues........................................................................................................................ 5

Treasury Portfolio, 24 March and 25 March 2021 ............................................................................ 5

Department of the Treasury .................................................................................................... 5

Australian Taxation Office (ATO) .......................................................................................... 6

Australian Charities and Not-for-profits Commission ....................................................... 7

Reserve Bank of Australia ....................................................................................................... 7

Australian Competition and Consumer Commission ......................................................... 8

National Housing Finance and Investment Corporation ................................................... 8

Australian Bureau of Statistics ................................................................................................ 8

Australian Securities and Investments Commission (ASIC) .............................................. 8

Australian Prudential and Regulation Authority (APRA) ................................................. 9

Industry Portfolio, 25 March 2021 ..................................................................................................... 9

Office of Innovation and Science Australia ........................................................................ 10

Commonwealth Scientific and Industrial Research Organisation (CSIRO) ................... 10

Office of the Chief Scientist ................................................................................................... 11

Australian Institute of Marine Science (AIMS) ................................................................... 11

Australian Nuclear Science and Technology Organisation (ANSTO) ............................ 11

Geoscience Australia .............................................................................................................. 12

Northern Australia Infrastructure Facility (NAIF) ............................................................ 12

National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) ................................................................................................................. 13

Appendix 1—Tabled documents .................................................................................................... 15

v

Members

Chair Senator Slade Brockman LP, WA

Deputy Chair Senator Alex Gallacher ALP, SA

Members Senator Jess Walsh (Acting Deputy Chair) ALP, VIC

Senator Andrew Bragg LP, NSW

Senator Susan McDonald NATS, QLD

Senator Rex Patrick IND, SA

Substitute Members Senator Anthony Chisholm ALP, QLD

(for Senator Gallacher)

Senators in attendance Senators Abetz, Bragg, Brockman, Canavan, Chisholm, Davey, Gallagher, Griff, Lines, McAllister, McDonald, McKenzie, McKim, McLachlan, Patrick, Rennick, Roberts, Scarr, Van, Walsh, Waters and Watt.

Secretariat Mr Mark Fitt, Secretary Ms Stephanie Gill, Research Officer Ms Taryn Morton, Administrative Officer

PO Box 6100 Ph: 02 6277 3540

Parliament House Fax: 02 6277 5719

Canberra ACT 2600 E-mail: economics.sen@aph.gov.au

vii

Acronyms and Abbreviations

AIMS Australian Institute of Marine Science

ANSTO Australian Nuclear Science and Technology

Organisation

ASIC Australian Securities and Investments Commission

ATO Australian Taxation Office

CSIRO Commonwealth Scientific and Industrial Research Organisation FIRB Foreign Investment Review Board

Industry Portfolio Industry, Science, Energy and Resources Portfolio NAIF Northern Australia Infrastructure Facility

NCCPA National Consumer Credit Protection Amendment PAES Portfolio Additional Estimates Statements

PII public interest immunity

QoN question on notice

the committee Senate Economics Legislation Committee

1

Chapter 1 Overview

1.1 The Senate Economics Legislation Committee (the committee) is responsible for examining the expenditure and outcomes of the Treasury Portfolio and the Industry, Science, Energy and Resources Portfolio (Industry Portfolio) excluding matters relating to energy and small business.1

Documents referred 1.2 On 18 February 2021 the Senate referred the following documents to the committee for examination and report in relation to the abovementioned portfolios:

 Particulars of proposed additional expenditure in respect of the year ending on 30 June 2021 [Appropriation Bill (No. 3) 2020-2021];  Particulars of certain proposed additional expenditure in respect of the year ending on 30 June 2021 [Appropriation Bill (No. 4) 2020-2021];  Final budget outcome 2019-20—Report by the Treasurer (Mr Frydenberg)

and the Minister for Finance (Senator Cormann); and  Advance to the Finance Minister—Report on advances provided under the annual Appropriation Acts for 2019-20.2

1.3 The Portfolio Additional Estimates Statements (PAES) 2020-21 for the Treasury Portfolio and Industry Portfolio were tabled in the Senate on 6 October 2020.3

Additional estimates hearings 1.4 To facilitate the examination, the Senate set 24-25 March 2021 as the dates for the committee to hold its 2020-21 Additional estimates hearings,4 with the first day set aside for the Treasury Portfolio and the second day for the Industry

Portfolio.

1.5 The agencies that appeared before the committee are included in Chapter 2. The Inspector-General of Taxation, Productivity Commission and Commonwealth Grants Commission were scheduled to appear on 24 March 2021, but were released by the committee. The Financial Adviser Standards and Ethics Authority was scheduled to appear on 25 March 2021, but was released by the committee.

1 Journals of the Senate, No. 42, 13 February 2020, p. 1368.

2 Journals of the Senate, No. 88, 18 February 2021, p. 3110; Journals of the Senate, No. 67, 6 October 2020,

p. 2356; Journals of the Senate, No. 70, 9 November 2020, p. 2467.

3 Journals of the Senate, No. 88, 18 February 2021, p. 3111.

4 Journals of the Senate, No. 76, 2 December 2020, p. 2676.

2

1.6 Evidence was provided at the hearings by the following Ministers:

 Senator the Hon. Simon Birmingham, Minister for Finance;  Senator the Hon. Jane Hume, Minister for Superannuation, Financial Services and the Digital Economy; and  Senator the Hon. Zed Seselja, representing the Minister for Industry, Science

and Technology and representing the Minister for Resources, Water and Northern Australia.

1.7 Evidence was also provided by senior officers of the Treasury Portfolio, led by Secretary Dr Steven Kennedy PSM, and of the Industry Portfolio, led by Secretary Mr David Fredericks PSM.

1.8 The committee thanks the Ministers and officers who provided evidence at, and support for, the committee's estimates hearings.

1.9 A verbatim record of the committee's hearings is made via the Committee Hansard and is accessible on the committee's estimates webpage.5 References in this report are to the proof Committee Hansard.6

1.10 A list of the documents tabled during the committee's hearings is available at Appendix 1. Tabled documents are published on the committee's estimates webpage.

Public interest immunity claims 1.11 On 13 May 2009, the Senate passed an order relating to public interest immunity (PII) claims. 7 The order sets out the processes to be followed if a witness declines to answer a question. The full text of this order has previously been provided to

departments and agencies and was incorporated in the Chair's opening statement at the commencement of each hearing.

1.12 The committee notes that no PII claims were made by witnesses during its 2020-21 Additional estimates hearings.

Questions on notice 1.13 In accordance with Standing Order 26(9)(a), the committee has drawn the attention of the departments and their agencies to the agreed deadline of 7 May 2021 for the receipt of answers to questions taken on notice (QoNs).

1.14 As the committee is required to report to the Senate before responses to questions are due, this report has been prepared without reference to any QoNs.

5 Senate Economics Legislation Committee’s Additional estimates 2020-21 webpage:

https://www.aph.gov.au/Parliamentary_Business/Senate_estimates/Economics/2020-21_Additional_estimates .

6 Proof Committee Hansard, 24 March 2021; Proof Committee Hansard, 25 March 2021.

7 Journals of the Senate, No. 68, 13 May 2009, pp. 1941-1942.

3

1.15 Responses to QoNs and additional information provided to the committee are tabled in the Senate and uploaded to the committee's estimates webpage as they become available.

Timeliness of answers from the 2020-21 Budget estimates 1.16 At its previous 2020-21 Budget estimates, the committee asked a total of 540 QoNs, with answers due six weeks after the last day of hearings on 10 December 2020. The departments and agencies returned the following

number of answers by the due date:

 Treasury Portfolio—of the 313 questions take on notice, 139 answers were provided by the committee’s set due date;8 and  Industry Portfolio—of the 227 questions take on notice, 185 answers were provided by the committee’s set due date.

1.17 The Industry Portfolio provided its last outstanding answers on 1 February 2021 and the committee notes that all answers except for two, were received by the end of 2020.

1.18 On 18 February 2021 Senator Kimberley Kitching made an order for production of documents for the remaining unanswered Budget estimates questions to be answered by no later than 9:30am on Wednesday 24 February 2021.9 At 5:51pm on Wednesday 24 February 2021 the Treasury Portfolio submitted its last outstanding answers. The committee notes that some of the Treasury Portfolio’s answers were submitted just shy of 11 weeks after the due date.

Report structure 1.19 The Senate determined that the committee will report on its consideration of the 2020-21 proposed Additional expenditure on 20 April 2021.10

1.20 This report is structured as follows:

 Chapter 1―provides an overview of the committee's hearings;  Chapter 2―reports on the key issues considered by the committee during the hearings; and  Appendix 1―lists the documents tabled during the committee's hearing.

1.21 This report does not seek to comprehensively analyse the evidence provided to the committee, rather the report is intended to inform the Senate of the key issues considered by the committee during the course of the hearings.

8 Response to Questions on Notice from the Reserve Bank of Australia (RBA) are included here. The

committee notes that the RBA returned all responses by the due date.

9 Journals of the Senate, No. 88, 18 February 2021, p. 3097.

10 Journals of the Senate, No. 76, 2 December 2020, p. 2677.

5

Chapter 2 Key issues

2.1 This chapter outlines the key issues considered by the Senate Economics Legislation Committee (the committee) at its 2020-21 Additional estimates hearings with the Treasury Portfolio and Industry, Science, Energy and Resources Portfolio (Industry Portfolio).

Treasury Portfolio, 24 March and 25 March 2021

Department of the Treasury

Corporate Group, Macroeconomic Group 2.2 The Secretary of the Department of the Treasury, Dr Steven Kennedy PSM, made an opening statement, highlighting the benefits of the fiscal packages implemented by the government since March 2020. Dr Kennedy also focused on

the positive recovery of Australia’s economy since the beginning of the COVID-19 pandemic.1

2.3 Topics examined by the committee included:

 Labour force related matters including excess capacity in the market, unemployment after the conclusion of the JobKeeper and JobSeeker stimulus package, the effectiveness of NAIRU’s modelling, business viability and profitable business receiving stimulus packages during COVID-19 (pp. 7-16, 21-22, 25-27, 30-32)

 Australia’s economic recovery post COVID-19 and the comparison to the global economic recovery (pp. 8, 16)  Foreign investment policy, including the change in policy by the Foreign Investment Review board (FIRB), FIRB’s Equity and Security Strategy post

COVID-19, Australia’s foreign investment reliance and the Western Sydney Airport purchase (pp. 17, 32-36)  Wealth inequality and concentration in Australia (pp. 17-20, 28-30)  The non-progression of the planned Early Access Super Scheme for women who have been victims of domestic violence (pp. 21-22)  Australia’s housing market affordability (pp. 27-31)  The Reserve Bank of Australia’s accommodative monetary policy (pp. 29-30)

1 Dr Steven Kennedy, Secretary, Department of the Treasury, Opening Statement, p. 1 (tabled 24 March

2021).

6

Fiscal Group 2.4 Topics examined by the committee included:

 The JobMaker Hiring Credit including number of positions, type of business taken up and expenditure to date (pp. 37-43)  Cost benefit discount rates, focused on Infrastructure Australia and regional infrastructure projects (pp. 43-46)  JobKeeper outcomes including the effect on companies’ dividends and

profits, breakdown of age, gender and business size, its role on confidence and the recovery of payments from companies who experienced profits during the pandemic. (pp. 46-50, 59-61)  A review of the JobKeeper, JobSeeker and JobMaker Schemes (pp. 50-52)  Government’s preparations to respond to the Aged Care Royal Commission (pp. 52-54)  Women’s budget impact statement and gender pay gap (pp. 54-55)  Involvement of the Fiscal Group in the costings for the Respect@Work report (pp. 55-57)  A report released by the UN Environment Programme that analysed pandemic recovery spending, with a focus on Australia’s recovery spending proportion on green initiatives (pp. 57-58)  Current consideration of changes to the Homebuilder scheme (pp. 61-62)

Revenue Group

Australian Taxation Office (ATO) 2.5 Topics examined by the committee included:

 Rulings on water rights not being taxable Australian property (p. 62)  JobKeeper payments being returned to the government and the activities of the Serious Financial Crime Taskforce in relation to JobKeeper payments (pp. 63-67)

 Early Access Super Scheme final numbers and the gender split of applicants (pp. 67-69)  Tax policy (pp. 69-70)  Independent contractors and related tax issues, including the gig economy

(pp. 70-71)  Tax avoidance in Australia with a focus on Australian oil and gas operations (pp. 71-74)  Australia’s tax treaty network in response to a question on notice

(pp. 80-81)  Small Business Ombudsman’s recommendations relating to the operation of the ATO, specifically recommendation 21—disputed debt (pp. 81-82)  The JobMaker Hiring Credit Scheme and the breakdown of allocation across

industry and state (pp. 82-83)

7

 Greensill Capital’s administration, GFG Alliance and what the ATO is doing to support the region of Whyalla (p. 83)  The Foreign Account Tax Compliance Act (FACTA) and its requirement to report the earnings of US citizens in Australia (pp. 84-85)  Agreed statement of facts by the Federal Court in regards to Westpac’s

failure to properly report nearly 20 million transactions to AUSTRAC (p. 86)

Australian Charities and Not-for-profits Commission 2.6 Topics examined by the committee included:

 Arrangements between Commissioner Dr Gary Johns and the Hon. Michael Sukkar MP in relation to travel between Brisbane and Melbourne (pp. 74-76)

 Limited tender with Evolve Communities for cultural training and changing the acknowledgement of country (pp. 76-78)  Charity setup requirements (pp. 78-80)

Markets Group 2.7 Topics examined by the committee included:

 The Early Release Super Scheme—Demand of the scheme, submissions received, the consultation process and the reasoning around the decision not to proceed (pp. 86-92, 94-96)

 The implementation of prudential regulation to stop discriminatory action by banks to block business lending (pp. 92-94)  A question on notice that related to a list of stakeholders requesting a delay to legislation being implemented based on the recommendations of the

Hayne Banking Royal Commission. (pp. 96-97)  A question on notice that related to National Consumer Credit Protection Amendment (NCCPA) (Supporting Economic Recovery) Bill 2020, specifically its alignment to Recommendation 1.1 of the Hayne Banking

Royal Commission (pp. 97-100)  Preparations for the implementation of the Treasury Laws Amendment (Your Future, Your Super) Bill 2021 and stapling arrangements—automatic exchange not being available until July 2022, development of the regulations

and consultation process and likely cost impacts of changing payroll systems to allow for stapling and implementation (pp. 100-101)  Release of superannuation for house deposits and modelling on the potential impact on the property market (pp. 101-102)  Continuous disclosure changes and the consultation prior to the

implementation of the temporary measure rules in May 2020 (pp. 102-103)

8

Reserve Bank of Australia 2.8 Topics examined by the committee included:

 General views on the state of the economy and the current unemployment rate (pp. 104-106)  Factors contributing to the rise in housing prices and the release of superannuation for house deposits (pp. 106-107)  Views following the US stimulus package in terms of inflation and

projections (p. 107)  Responsible lending obligations (pp. 107-108)  The storage of Australia’s gold in London vaults (pp. 108-109)  Foreign interference in terms of currency speculation and inflation

(pp. 109-110)  Lowering interest rates and the CPI (p. 110)  Monetary policy in relation to the housing market (pp. 110-113)  The Yield Curve Control Policy (pp. 113-115)

Australian Competition and Consumer Commission 2.9 Topics examined by the committee included:

 The Northern Australia Insurance inquiry (pp.115-116)  The Dairy Code (p. 117)

National Housing Finance and Investment Corporation 2.10 The topic examined by the committee was:

 The National Housing Infrastructure Fund (pp. 117-120)

Australian Bureau of Statistics 2.11 Topics examined by the committee included:

 Preparations for the 2021 Census (pp. 120-121)  Improvement of data collection (pp. 121-122)

Australian Securities and Investments Commission (ASIC) 2.12 Topics examined by the committee included:

 Accelerated non-renounceable issues (pp. 2-4)  Rest case (pp. 4-5)  Media briefing policy and sending embargo briefs (pp. 5-6)  Continuous disclosure regulations (pp. 6-10)  Coronavirus response and virtual AGMs (pp. 10-11)  Banking Code of Practice - enforceable provisions (pp. 11-12)  Unconscionable conduct definition following decision of the High Court of

Australia (p. 12)  Allegations of fake analysis of coal (pp. 12-13)  Role in NCCPA (Supporting Economic Recovery) Bill 2020 (pp. 13-14)

9

 Financial Adviser Standards and Ethics Authority dismantling and role split between ASIC (Financial Services and Credit Panel) and Treasury, plus the impact on Financial Advisers (pp. 14-16)  Insurance and the Cash Settlement Fact Sheet (pp. 16-18)  Greensill Capital (pp. 18-19)  Submission to Corporate tax avoidance inquiry (p. 19)

Australian Prudential and Regulation Authority (APRA) 2.13 The Chair of APRA, Mr Wayne Byres, made an opening statement, outlining three important supervision and policy activities: superannuation agenda; cyber security strategy; and implementing the Hayne Banking Royal Commission

recommendations and twelve enforcement referrals.2

2.14 Topics examined by the committee included:

 NCCPA (Supporting Economic Recovery) Bill 2020 (pp. 20-21)  Superfund mergers (p. 22)  Your Future Your Super reforms—failing two performance tests, underperformance assessment and impact on investment strategy

(pp. 22-23 and 25-26)  Climate Risk Evaluation and Vulnerability Assessment (pp. 23-25)  De-banking (pp. 26-27)  Climate risk disclosure (pp. 27-28)  Sole purpose test (pp. 28-30)

Industry Portfolio, 25 March 2021

Cross-portfolio / corporate 2.15 The Secretary of the Department of Industry, Science, Energy and Resources, Mr David Fredericks PSM, made some opening remarks recognising the distinguished public service career of soon to be retired Deputy Secretary

Elizabeth Kelly and thanked her for her service.3

2.16 Topics examined included:

 Consultancies (pp. 37-39)  Number of full-time equivalent staff in the Department of Industry, Science, Energy and Resources (pp. 39-40)

2 Mr Wayne Byres, Chair, Australian Prudential and Regulation Authority, Opening statement

(tabled 25 March 2021).

3 Mr David Fredericks PSM, Secretary, Department of Industry, Science, Energy and Resources, Proof

Hansard, 25 March 2021, p. 35.

10

Outcome 1 Programs 1.1 and 1.2 Program 1.1: Investing in science, technology and commercialisation

Program 1.2: Growing innovative and competitive businesses, industries and regions

2.17 The newly appointed Head of the Australian Space agency, Mr Enrico Palermo, introduced himself to the committee and outlined his direction which includes an ambitious agenda: ‘engage extensively with the industry; deliver against the Civil Space Strategy; and lead the Australian Space Agency in its third year of operations and beyond’.4

2.18 Topics examined included:

 Whyalla Steelworks—Greensill, steel making (pp. 40-42, 51-54)  Female Entrepreneurs Program (pp. 42-43)  Modern Manufacturing Strategy/Initiative/Program (pp. 35-37, 43-46, 56-58)

 Manufacturing jobs created (pp. 46-51)  Legal services direction, model litigant guidelines and Innovation and Science Australia (pp. 54-56)  Australian Space Agency  Background of new Agency Head (pp. 59-60)  Short term goals (p. 60)  100 day plan—how to take the agency forward in the future (pp. 60-62)  Launches—permits, education, supporting providers, first launch program

(pp. 62-67)  Australian Building Codes Board  Flammable cladding (pp. 67-68)  Certification (pp. 68-71)

Office of Innovation and Science Australia 2.19 Topics examined included:

 Overall view on innovation in Australia (pp. 71-72)  Name change (pp. 72-73)  Roadmap comment and feedback from board members (pp. 73-74)

Commonwealth Scientific and Industrial Research Organisation (CSIRO) 2.20 Dr Larry Marshall, Chief Executive of the CSIRO, made an opening statement informing the committee that the CSIRO’s endeavours in the last twelve months

4 Mr Enrico Palermo, Agency Head, Australian Spacy Agency, Opening statement

(tabled 25 March 2021).

11

have required research and research translation to respond to the challenges of the bushfires and COVID-19.5

2.21 Topics examined included:

 Gladstone Power Station (pp. 74-77)  Lithium battery recycling (p. 77)  Portfolio investment review (pp. 77-81)  Coal dust (p. 81)  GenCost 2020-21 report (pp. 81-82)  Remuneration (p. 82)  Modelling data and literature (pp. 82-85)

Office of the Chief Scientist 2.22 In her first appearance before the committee as the Chief Scientist, Dr Cathy Foley gave an opening statement informing the committee of her background and that she aims to ‘ensure that the benefits of that [discovery] research are

fully realised, and realised for the benefits of the country’.6

2.23 Topics examined included:

 Developing advanced manufacturing (p. 86)  Neuroscience research, university funding and effects of COVID-19 (pp. 86-88)  Quality assurance of data (pp. 88-90)  Quantum computing (pp. 90-91)  Office of Scientific Integrity and Quality Assurance (p. 91)

Australian Institute of Marine Science (AIMS) 2.24 Dr Paul Hardisty, Chief Executive Officer (CEO) of AIMS, made an opening statement noting that AIMS is celebrating its 50th anniversary next year and outlined changes in Australia’s marine science landscape in the last fifty years.7

2.25 Topics examined included:

 National Sea Simulator (p. 92)  Reef science (pp. 92-93)  Reef rectification work—COVID-19 stimulus and additional AIMS funding (pp. 93-94)

5 Dr Larry Marshall, Chief Executive, Commonwealth Scientific and Industrial Research

Organisation, Opening statement (tabled 25 March 2021).

6 Dr Cathy Foley, Chief Scientist, Office of the Chief Scientist, Proof Hansard, 25 March 2021, p. 86.

7 Dr Paul Hardisty, Chief Executive Officer (CEO), Australian Institute of Marine Science,

Opening statement (tabled 25 March 2021).

12

Australian Nuclear Science and Technology Organisation (ANSTO) 2.26 Topics examined included:

 ANSTO safety incidents (pp. 94-95)  Government funding reductions (p. 95)  Revenue streams (p. 95)  Key projects (pp. 95-96)

Geoscience Australia 2.27 Topics examined included:

 Key priorities including Positioning Australia program (pp. 96-97)  Exploring for the future program (pp. 97, 98)  Queensland resources sector (pp. 97, 98, 101)  Groundwater (pp. 97, 98, 102)  Enhanced oil recovery using carbon capture and storage (p. 99)  Identified mineral resources report (p. 99)  Canada-US-Australia agreement on critical minerals (pp. 99-100)  SouthPAN (pp. 100-101)  Geoscience Australia tie (p. 102)  Resources data strategy (p. 102)

Outcome 1 - Programs 1.3 and 1.4 Program 1.3: Supporting a strong resources sector

Program 1.4: Growing a stronger Northern Australian economy

2.28 Topics examined included:

 Extractive Industries Transparency Initiative (pp. 102-103)  Strategic Resources Advisory Group (pp. 103-104)  EPP 41, EPP42 - Bite tenements (pp. 104-105)  EPP 39, EPP 40 - Equinor (p. 105)  EPP 43 (p. 105)  Timor Sea Oil and Gas titles (p. 105)  Assessment of bids (pp. 105-106)  Field recovery reports (p. 106)  Walker review (pp. 106-107)  ExxonMobil decommissioning (p. 107)  Northern Endeavour (pp. 107, 108-112)  Decommissioning (pp. 109-112)  Title transfer assessments (p. 107)  Greater Sunrise (pp. 107-108 and 112-113)  Iron Ore Levy (pp. 113-114)  Coal exports and energy content of Australian coal exports (pp. 114-118)

13

Northern Australia Infrastructure Facility (NAIF) 2.29 Mr Chris Wade, CEO of NAIF, tabled an opening statement which covered NAIF's investment decisions, contractual closes, projects, economic benefit, job growth, Indigenous engagement, reforms and revenue and cost management.8

2.30 Topics examined included:

 NAIF Staffing (pp. 118-120)  NAIF Projects - investment decision stage (p. 120)  Funds released by NAIF (pp. 120-121)  NAIF First Nations projects (p. 121)  NAIF Chair (p. 122)  Resignations and redundancies (pp. 122-124)  NAIF legislative changes (pp. 125-126)

National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) 2.31 Topics examined included:

 Northern Endeavour (pp. 126-129)  Compliance action—Nganhurra riser turret mooring (p. 129)  Compliance plan (p. 129)  Lloyds class certificates (pp. 130-131)

Senator Slade Brockman Chair

8 Mr Chris Wade, CEO, Northern Australia Infrastructure Facility, Opening statement

(tabled 25 March 2021).

15

Appendix 1 Tabled documents

Treasury Portfolio 1 Opening statement; tabled at a public hearing in Canberra on 24 March 2021 by Dr Steven Kennedy, Secretary, Department of the Treasury. 2 Opening statement; tabled at a public hearing in Canberra on 25 March 2021

by Mr Wayne Byres, Chair, Australian Prudential Regulation Authority.

Industry Portfolio 1 Opening statement; tabled at a public hearing in Canberra on 25 March 2021 by Mr Enrico Palermo, Agency Head, Australian Space Agency. 2 News article 'We make things in Australia: PM's plan to boost

manufacturing'; tabled at a public hearing in Canberra on 25 March 2021 by Senator Murray Watt. 3 News article 'Common knowledge' Grenfell insulation used old test report, says sacked Kingspan manager'; tabled at a public hearing in Canberra on

25 March 2021 by Senator Rex Patrick. 4 News article 'Grenfell firm stretched truth with the safety claims, ex-worker says'; tabled at a public hearing in Canberra on 25 March 2021 by Senator Rex Patrick. 5 News 'A raging inferno: testimony reveals how deadly cladding ended up on

Grenfell Tower'; tabled at a public hearing in Canberra on 25 March 2021 by Senator Rex Patrick. 6 Opening statement; tabled at a public hearing in Canberra on 25 March 2021 by Dr Larry Marshall, Chief Executive, Commonwealth Scientific and

Industrial Research Organisation. 7 Opening statement; tabled at a public hearing in Canberra on 25 March 2021 by Dr Paul Hardisty, Chief Executive Officer, Australian Institute of Marine Science. 8 Opening statement; tabled at a public hearing in Canberra on 25 March 2021

by Mr Chris Wade, Chief Executive Officer, Northern Australia Infrastructure Facility (NAIF). 9 Letter regarding sub judice convention; tabled at a public hearing in Canberra on 25 March 2021 by Senator Rex Patrick.