❓ Hon. N.F. Moore questions the Treasurer about debt associated with the Perth Urban Rail Development (PURD) project following changes made by the Labor Party. The Minister responds with figures and explanations regarding financing decisions.
AnsweredQoN 927Legislative Council
QuestionView source ↗
PERTH URBAN RAIL DEVELOPMENT
(1) In the light of changes to the Perth urban rail development project announced by the Labor Party, what is the estimated debt associated with the PURD project as it currently stands? (2) What was the level of debt associated with the former Government’s rail plan? (3) Is any of the forecast debt associated with the PURD project held in the general government sector; and, if so, how much? (4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS
(1) In the light of changes to the Perth urban rail development project announced by the Labor Party, what is the estimated debt associated with the PURD project as it currently stands? (2) What was the level of debt associated with the former Government’s rail plan? (3) Is any of the forecast debt associated with the PURD project held in the general government sector; and, if so, how much? (4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS
AnswerView source ↗
I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(2) What was the level of debt associated with the former Government’s rail plan? (3) Is any of the forecast debt associated with the PURD project held in the general government sector; and, if so, how much? (4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(3) Is any of the forecast debt associated with the PURD project held in the general government sector; and, if so, how much? (4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(3) No; debt held in the public non-financial corporations sector. (4) No.
(4) No.
(2) What was the level of debt associated with the former Government’s rail plan? (3) Is any of the forecast debt associated with the PURD project held in the general government sector; and, if so, how much? (4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(3) Is any of the forecast debt associated with the PURD project held in the general government sector; and, if so, how much? (4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(4) Was the $300 million of AlintaGas sales proceeds that was allocated to fund the rail project transferred to the public non-financial corporations sector with the reclassification of the PURD project from the general government sector? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
I thank the member for some notice of this question. (1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(1) This Government has made the decision to procure the electric railcars required for the Perth urban rail development using government debt financing rather than private sector lease financing. The estimated debt associated with the PURD project is currently $917 million. The amount of $300 million from the AlintaGas sale proceeds will be applied towards funding works associated with the PURD project. (2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(2) The former Government had provided $449 million in debt for the construction of the rail infrastructure associated with the PURD project. This figure was lower than the Government’s provision, because the previous Government had budgeted for the supply and maintenance of rail cars, including the necessary infrastructure, to be funded by private sector financing through leasing arrangements, rather than debt financing. This private sector financing was estimated to be $398 million. The Government’s estimate of $917 million of debt includes $70 million that has been transferred from the development of the Kwinana Freeway bus lane project. This provision for bus lane development had also been made by the former Government. (3) No; debt held in the public non-financial corporations sector. (4) No.
(3) No; debt held in the public non-financial corporations sector. (4) No.
(4) No.
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