Legislative Council Wednesday 11 July, 2018

Ms  FORREST question  to the LEADER of the GOVERNMENT in the LEGISLATIVE COUNCIL Mrs HISCUTT

The balance sheet on page 143 of the budget paper 1 for 2018-19 notes that the non-financial government businesses were being asked to borrow an extra $1 billion between now and the end of the forward Estimates, with borrowings for non-financial businesses increasing from $2.681 billion to $3.684 billion, an increase of $1 billion. 

Last year's budget papers identified that the borrowings for the non-financial corporations were going to fall by $111 million over four years, a turnaround in the levels of borrowing by government businesses of $1.111 billion. 

(1)  Why was there no footnote to describe this extraordinary change? 

(2)  Which companies are projected to increase their borrowing over the four years?  In each case, what are the projected borrowings over each of the forward Estimates?

ANSWER

Mr President, I thank the member for Murchison for her question.

(1)  As indicated in the table below, the increase in borrowings is primarily due to estimated borrowings for TT-Line replacement vessels.  As previously advised, the value of the construction contract and the associated borrowings have been publicly reported.  The information reported on page 143 of budget paper 1, together with the entirety of that appendix, is presented in accordance with the uniform presentation framework, which does not require the presentation of commentary on changes in budget Estimates.  

(2)  Borrowings for the public non-financial corporation sector are budgeted to increase by $900.37 million between the 30 June 2018 estimated outcome, and 30 June 2022. 

A breakdown of borrowings by entity is provided in the table below.  I seek leave to table that document.

Leave granted.