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Parliamentary Questions


Question Without Notice No. 399 asked in the Legislative Council on 12 May 2022 by Hon Dr Steve Thomas

Parliament: 41 Session: 1

FINANCIAL MANAGEMENT ACT — SPECIAL PURPOSE ACCOUNTS

399. Hon Dr STEVE THOMAS to the minister representing the Treasurer:

I refer to my questions without notice 295 and 346, answered on 7 April and 10 May 2022, on special purpose accounts.

(1) How many of the Treasurer's special purpose accounts are listed or referenced by name in today's budget?

(2) Why have only five of the Treasurer's special purpose accounts, currently holding around $5 billion, given in the answer to question 346, been listed by name in the previous budget?

(3) What is the current balance of each of the other 19 Treasurer's special purpose accounts, which must add up to around $14 billion?

(4) Why has that $14 billion sitting in Treasurer's special purpose accounts been hidden from scrutiny?

(5) Given the Treasurer's answer to question without notice 346, which said that the information that I sought would be in today's budget, on what pages can I find references to each of the 19 missing Treasurer's special purpose accounts?

Several members interjected.

The PRESIDENT: Order!

Hon STEPHEN DAWSON replied:

I thank the Leader of the Opposition for some notice of the question. The answer is provided on behalf of the Treasurer.

(1) Appendix 5, ''Special Purpose Accounts'', commencing on page 281 of the 2022–23 budget paper No 3, Economic and fiscal outlook, specifically details information on key special purpose accounts and states —

It is not an exhaustive list of all SPAs, but covers major/material SPAs established to achieve priority policy outcomes.

Ten Treasurer's SPAs are listed in this appendix.

(2) As outlined in the answer to (1), the SPA index is not an exhaustive list of all SPAs, but covers major/material SPAs established to achieve priority policy outcomes.

(3) The balance of special purpose accounts varies on a day-to-day basis. As at 30 April 2022, the balance of the 19 accounts was $17.3 billion.

(4) Out of the 19 accounts, the holding account accounted for 97 per cent of the balance, $16.8 billion, at 30 April 2022. The holding account is not disclosed in the budget papers, but it is disclosed on pages 217, 218 and 221 of the 2020–21 Annual report on state finances.

(5) See the answer to (2).