❓ Hon ED DERMER questions the Treasurer's fiscal strategy regarding the state's debt capacity and the net financial liabilities to operating revenue ratio, particularly in relation to a potential credit rating downgrade. The response defers to the upcoming budget paper for specific forecasts and comparisons.
AnsweredQoN 480Legislative Council
QuestionView source ↗
STATE NET FINANCIAL LIABILITIES TO OPERATING REVENUE RATIO
I refer to the net financial liabilities to operating revenue ratio that the Treasurer has adopted as part of the government’s fiscal strategy, and his refusal to nominate an upper limit in respect of the state’s capacity to take on debt. (1) What will be the estimate of the net financial liabilities to operating revenue ratio for the state in 2011-12? (2) Is the Treasurer confident that the state will keep this ratio below 90 per cent, which is the level that Standard and Poor’s states as being the trigger for a credit rating downgrade? Hon BARRY HOUSE
I refer to the net financial liabilities to operating revenue ratio that the Treasurer has adopted as part of the government’s fiscal strategy, and his refusal to nominate an upper limit in respect of the state’s capacity to take on debt. (1) What will be the estimate of the net financial liabilities to operating revenue ratio for the state in 2011-12? (2) Is the Treasurer confident that the state will keep this ratio below 90 per cent, which is the level that Standard and Poor’s states as being the trigger for a credit rating downgrade? Hon BARRY HOUSE
AnswerView source ↗
I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(1) What will be the estimate of the net financial liabilities to operating revenue ratio for the state in 2011-12? (2) Is the Treasurer confident that the state will keep this ratio below 90 per cent, which is the level that Standard and Poor’s states as being the trigger for a credit rating downgrade? Hon BARRY HOUSE replied: I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(2) Is the Treasurer confident that the state will keep this ratio below 90 per cent, which is the level that Standard and Poor’s states as being the trigger for a credit rating downgrade? Hon BARRY HOUSE replied: I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
Hon BARRY HOUSE replied: I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(1) What will be the estimate of the net financial liabilities to operating revenue ratio for the state in 2011-12? (2) Is the Treasurer confident that the state will keep this ratio below 90 per cent, which is the level that Standard and Poor’s states as being the trigger for a credit rating downgrade? Hon BARRY HOUSE replied: I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(2) Is the Treasurer confident that the state will keep this ratio below 90 per cent, which is the level that Standard and Poor’s states as being the trigger for a credit rating downgrade? Hon BARRY HOUSE replied: I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
Hon BARRY HOUSE replied: I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
I thank the honourable member for some notice of this question. (1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(1) Forecasts of the net financial liabilities to revenue ratio will be available in the 2009-10 budget paper No 3, Economic and Fiscal Outlook , to be released on Thursday, 14 May 2009. (2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
(2) The 2009-10 budget paper No 3 will include a comparison of the forecast net financial liabilities to revenue ratio to the 90 per cent threshold referred to by Standard and Poor’s.
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