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Wednesday, 8 May 1996
Page: 616

Mr FAHEY (Minister for Finance)(4.38 p.m.) —I move:

That the bill be now read a second time.

This bill seeks appropriations of the consolidated revenue fund in 1996-97 totalling $1,720 million. Supply Bill (No. 2) provides interim authority for proposed expenditure on the construction of public works and buildings, the acquisition of sites and buildings, certain advances and loans, items of plant and equipment which are clearly definable as capital in nature, grants to the states under section 96 of the constitution and for payments to the Northern Territory and the Australian Capital Territory. Provision is also made, at the detailed appropriation item level, for expenditure on new policy initiatives totalling only $38 million for which legislative authority has not been previously approved by the parliament.

As with Supply Bill (No. 1), which I introduced earlier, provision has been made in Supply Bill (No. 2) to allow for the possible commencement during the course of the financial year of the Financial Management and Accountability Bill, which is one of a package of bills the Government is committed to introducing to replace the Audit Act 1901. Details of the proposed expenditure are set out in schedule 2 to the bill.

Debate (on motion by Mr Kerr) adjourned.