❓ Dr. Thomas questions the Treasurer regarding the Under Treasurer's statements on the impact of iron ore royalties on the state's budget and borrowings, alleging potential misrepresentation. The Treasurer avoids direct confirmation, attributing financial improvements to strong government management.
AnsweredQoN 1477Legislative Council
QuestionView source ↗
GST DISTRIBUTION —
IRON ORE PRICE
1477. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to my question without
notice 1362 asked on 20 November and question without notice 1400 asked on 22 November
this year on the 2019 mini boom of iron ore royalties.
(1) Did the Under
Treasurer tell agency estimates on 13 November this year that, according to my
notes of the video record on the parliamentary website —
The cash deficit for the 2018–19
financial year was substantially below what was originally estimated in the
2018–19 budget. The additional iron ore royalty revenue was the
predominant reason for that.
(2) The Under
Treasurer was asked in those same estimates, according to my notes of the video
—
If it wasn't for what I call
the 2019 mini-boom of iron ore prices that there would have had a budget
deficit and additional borrowings.
Did he reply, ''Additional
borrowings—yes absolutely. It's a direct substitution. So had
we not got that iron ore royalty revenue in, then borrowings would have been
higher by an equivalent amount''?
(3) Did the Under Treasurer in those estimates refer
to ''that additional $1.7 billion in iron ore royalty revenue'' for 2019, according to the video?
(4) Therefore,
exactly how were the Under Treasurer's statements apparently
misrepresented in question without notice 1362, as suggested in his answer to
question without notice 1400?
IRON ORE PRICE
1477. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to my question without
notice 1362 asked on 20 November and question without notice 1400 asked on 22 November
this year on the 2019 mini boom of iron ore royalties.
(1) Did the Under
Treasurer tell agency estimates on 13 November this year that, according to my
notes of the video record on the parliamentary website —
The cash deficit for the 2018–19
financial year was substantially below what was originally estimated in the
2018–19 budget. The additional iron ore royalty revenue was the
predominant reason for that.
(2) The Under
Treasurer was asked in those same estimates, according to my notes of the video
—
If it wasn't for what I call
the 2019 mini-boom of iron ore prices that there would have had a budget
deficit and additional borrowings.
Did he reply, ''Additional
borrowings—yes absolutely. It's a direct substitution. So had
we not got that iron ore royalty revenue in, then borrowings would have been
higher by an equivalent amount''?
(3) Did the Under Treasurer in those estimates refer
to ''that additional $1.7 billion in iron ore royalty revenue'' for 2019, according to the video?
(4) Therefore,
exactly how were the Under Treasurer's statements apparently
misrepresented in question without notice 1362, as suggested in his answer to
question without notice 1400?
AnswerView source ↗
I thank the honourable member for
some notice of the question. The following answer has been provided to me by
the Treasurer.
(1)–(3) The
Treasurer will not be spending time confirming the member's
interpretation of the parliamentary video. However, as the Under Treasurer
explained and as recognised by Hon Dr Steve Thomas himself in agency estimates,
what is beyond doubt is that the government's strong financial
management is the fundamental reason for the improvement in the state's
finances.
(4) Not
applicable.
some notice of the question. The following answer has been provided to me by
the Treasurer.
(1)–(3) The
Treasurer will not be spending time confirming the member's
interpretation of the parliamentary video. However, as the Under Treasurer
explained and as recognised by Hon Dr Steve Thomas himself in agency estimates,
what is beyond doubt is that the government's strong financial
management is the fundamental reason for the improvement in the state's
finances.
(4) Not
applicable.
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