❓ Mr. Trenorden questions whether increased stamp duty revenue is due to HIH collapse and 9/11, suggesting stamp duty relief for the public liability insurance crisis. Mr. Ripper acknowledges increased revenue but highlights competing budget demands.
AnsweredQoN 843Legislative Assembly
QuestionView source ↗
I refer to the 2001-02 Government Mid-year Financial Projections Statement in which the Treasurer reports that the Government will receive an increase in stamp duty on insurance premiums of $20 million in this financial year. (1) Is it the case that the $20 million windfall is a result of the growth in premiums resulting from the collapse of HIH Insurance Ltd and the events of 11 September? (2) If that is the case, is it reasonable for the Government to provide stamp duty relief as a response to the current public liability insurance crisis? Mr RIPPER
AnswerView source ↗
I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
(1) Is it the case that the $20 million windfall is a result of the growth in premiums resulting from the collapse of HIH Insurance Ltd and the events of 11 September? (2) If that is the case, is it reasonable for the Government to provide stamp duty relief as a response to the current public liability insurance crisis? Mr RIPPER replied: I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
(2) If that is the case, is it reasonable for the Government to provide stamp duty relief as a response to the current public liability insurance crisis? Mr RIPPER replied: I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr RIPPER replied: I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
(1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
(1) Is it the case that the $20 million windfall is a result of the growth in premiums resulting from the collapse of HIH Insurance Ltd and the events of 11 September? (2) If that is the case, is it reasonable for the Government to provide stamp duty relief as a response to the current public liability insurance crisis? Mr RIPPER replied: I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
(2) If that is the case, is it reasonable for the Government to provide stamp duty relief as a response to the current public liability insurance crisis? Mr RIPPER replied: I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr RIPPER replied: I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
I thank the Leader of the National Party for his question. (1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
(1)-(2) If stamp duty rates remain constant and insurance premiums rise - as they are doing for a variety of reasons - more stamp duty will be collected. The mid-year review did reflect an increased estimate for receipt of stamp duty revenue from stamp duties on insurance. Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr Trenorden: The increased premiums for public liability insurance would be driving some of that. Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr RIPPER: Insurance premiums generally are increasing as a result of the events of 11 September and a heightened appreciation of risk. They were also increasing in Australia because of the collapse of HIH. HIH offered competitive insurance rates, and with HIH out of the market some of that competitive pressure has been removed. The Government is getting additional revenue from that source. However, it also has other revenue sources, the revenue from which will vary. Sometimes one revenue source is up and another is down. On the other side of the budget we have unexpected expenditure increases. For example, the high community expectations and the impact of technology on the ageing of the population is driving demand for health spending beyond the rate of growth of revenue generally. All of these things have to be taken into account. The outcome of that is seen when the Government brings down the budget. The Leader of the National Party has raised as one potential good use of the resources available to the public the provision of some relief on stamp duty on insurance. That is one of a number of options that any Government would have before it. Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr Trenorden: The crisis before us is in public liability insurance. That is the debate. The federal Parliament is discussing that right now. We need to concentrate on public liability insurance. Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Mr RIPPER: Would the member’s priority be an extra dollar in health, in disability services to deal with the accommodation support crisis, or in stamp duty on public liability? There are lots of calls on the public dollar. The Government will balance all of those needs and the outcome will be revealed in the budget. In the meantime, my colleagues are working on responses to the public liability issue. The Minister for Government Enterprises, Hon Nick Griffiths, has been meeting with other ministers at the meeting called by Senator Coonan, and the Department of the Premier and Cabinet has worked on a package, which the Government has already announced. We are working on the public liability question. We are also in need of commonwealth support on that issue, because we will not get a satisfactory result for the community groups and small businesses of this country without substantial commonwealth involvement.
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.