❓ Hon. Norman Moore questions the Minister about a significant increase in Water Corporation revenue estimates and dividend payments. The Minister clarifies that the revenue increase is based on the anticipated lifting of water restrictions and denies that an additional dividend was drawn in 2001-02.
AnsweredQoN 846Legislative Council
QuestionView source ↗
I refer the minister to page 182 of the 2002-03 budget paper No 3, which shows that revenue from the Water Corporation is estimated to rise next year by $63.7 million. (1) Can the minister explain the basis for the significantly higher estimates, including a $43.2 million increase in dividends? (2) Can the minister confirm that the Government drew an additional $50 million in dividends in 2001-02 and that it was announced as a one-off measure? (3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS
AnswerView source ↗
I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(1) Can the minister explain the basis for the significantly higher estimates, including a $43.2 million increase in dividends? (2) Can the minister confirm that the Government drew an additional $50 million in dividends in 2001-02 and that it was announced as a one-off measure? (3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(2) Can the minister confirm that the Government drew an additional $50 million in dividends in 2001-02 and that it was announced as a one-off measure? (3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(1) Can the minister explain the basis for the significantly higher estimates, including a $43.2 million increase in dividends? (2) Can the minister confirm that the Government drew an additional $50 million in dividends in 2001-02 and that it was announced as a one-off measure? (3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(2) Can the minister confirm that the Government drew an additional $50 million in dividends in 2001-02 and that it was announced as a one-off measure? (3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(3) The budget estimates for the current year do not show a $50 million reduction in Water Corporation dividends. Can the minister indicate whether that means that the one-off additional dividend has been embedded as part of regular dividend requirements? Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
Hon NICK GRIFFITHS replied: I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
I thank the member for some notice of this question. In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
In the context of the wording of the question, the Water Corporation has advised that - (1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(1) The increase in revenue next year from 2002-03 assumes that water restrictions will be lifted in 2003-04 following a return to normal operating conditions and also normal revenue growth. (2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
(2)-(3) The Government did not draw an additional $50 million in dividend in 2001-02. Dividends received for 2001-02 were $256.9 million compared with the 2000-01 actual of $237.8 million, a change of $19.1 million.
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