public accounts estimates committee 2006 07 budget
play

Public Accounts & Estimates Committee 2006-07 Budget Estimates - PowerPoint PPT Presentation

Mar 24, 2023 •130 likes •376 views

Public Accounts & Estimates Committee 2006-07 Budget Estimates Hearing The Hon. John Brumby MP Treasurer Sound financial management 2006-07 2007-08 2008-09 2009-10 Budget estimate estimate estimate ($ million) Total income from 32

  1. Public Accounts & Estimates Committee 2006-07 Budget Estimates Hearing The Hon. John Brumby MP Treasurer

  2. Sound financial management 2006-07 2007-08 2008-09 2009-10 Budget estimate estimate estimate ($ million) Total income from 32 442 33 463 34 595 35 500 transactions ( % change ) 3.98 3.15 3.38 2.62 Total expenses from 32 125 33 158 34 263 35 188 transactions ( % change ) 4.47 3.21 3.34 2.70 Net result from 317 305 331 312 transactions Source: Victorian Budget Papers

  3. Net financial liabilities at prudent levels “AAA” $ billion % of GSP 25 15 20 12 15 9 10 6 5 3 0 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 A-IFRS unfunded superannuation transitional adjustment (LHS) Net debt (excluding Growing Victoria) (LHS) Unfunded superannuation (LHS) Net financial liabilities to GSP (A-IFRS) (%) (RHS) Net financial liabilities to GSP (%) (RHS) Source: Victorian Budget Papers

  4. Victorian economy going forward 2005-06 2006-07 2007-08 2008-09 2009-10 estimate forecast forecast forecast forecast (per cent) Economic growth 2.50 3.25 3.50 3.25 3.25 Employment growth 1.50 1.25 1.50 1.25 1.25 Unemployment rate 5.50 5.50 5.25 5.25 5.25 Source: Victorian Budget Papers

  5. Terms of Trade index 130 120 110 100 90 80 70 Mar-60 Mar-68 Mar-76 Mar-84 Mar-92 Mar-00 Source: Australian Bureau of Statistics

  6. Victorian economic growth in context GSP growth % 6 Estimate 4 2 0 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 Non-resource States including Victoria Victoria Resource States Sources: Australian Bureau of Statistics, Budget Papers

  7. Business investment growing New private business investment per capita $ per capita 1,900 1,800 1,700 1,600 Victoria 1,500 1,400 Australia 1,300 1,200 1,100 1,000 900 800 Dec-98 Dec-99 Dec-00 Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Source: Australian Bureau of Statistics

  8. Building approvals strong Value of building approvals ($ year ended) per capita 3,500 3,000 Victoria 2,500 Australia 2,000 1,500 1,000 500 0 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 9 9 9 9 9 9 9 9 0 0 0 0 0 0 0 - - - - - - - - - - - - - - - r r r r r r r r r r r r r r r a a a a a a a a a a a a a a a M M M M M M M M M M M M M M M Source: Australian Bureau of Statistics

  9. Non-residential construction pipeline* $ billion 8 6 4 2 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 * Year-end , Pipeline includes roads, non-residential building, heavy industry and other engineering Source: Australian Bureau of Statistics

  10. Construction Activity $ million 2000 Engineering Construction 1800 Non-Residential Building 1600 1400 1200 1000 800 600 400 200 0 2 3 4 5 6 7 8 9 0 1 2 3 4 5 9 9 9 9 9 9 9 9 0 0 0 0 0 0 - - - - - - - - - - - - - - p p p p p p p p p p p p p p e e e e e e e e e e e e e e S S S S S S S S S S S S S S Source: Australian Bureau of Statistics

  11. Record net infrastructure investment • $12.6 billion of investment over 4 years to 2009-10 $million 3,500 3,000 2,500 2,000 1,500 1,000 500 0 0 1 2 3 4 5 6 7 8 9 0 0 0 0 0 0 0 0 0 0 0 1 - - - - - - - - - - - 9 0 1 2 3 4 5 6 7 8 9 9 0 0 0 0 0 0 0 0 0 0 9 0 0 0 0 0 0 0 0 0 0 1 2 2 2 2 2 2 2 2 2 2 Department of Treasury and Finance

  12. Land tax rates compared Victoria’s Land Tax rates compared to NSW & Queensland 1999-00 to 2006-07 Land Tax Payable ($) $120,000 $3.425m VIC 2000 $100,000 VIC 2007 NSW 2007 $80,000 QLD 2007* $60,000 $1.541m $40,000 $0.380m $20,000 $0 $0 $1,000,000 $1,995,000 $2,995,000 $3,990 Unimproved Value of Landholdings Source: Department of Treasury and Finance *Using Queensland land tax rates on companies

  13. Payroll tax rates compared • Reduces payroll tax rate to 5% over next two financial years – cuts costs by $533 million for over 20,000 businesses 7.5% 7.0% 6.5% 6.0% 5.5% 5.0% 4.5% 4.0% Qld Vic WA SA NSW Tas NT ACT Source: Department of Treasury and Finance

  14. A further cut to WorkCover premiums • Third consecutive 10% reduction in WorkCover premiums ($170 million savings per year) Rate (%) 3 2004-05 cut 2 2005-06 cut 2006-07 cut 1 0 QLD VIC WA NSW SA Source: Victorian Budget Papers

  15. Public Accounts & Estimates Committee 2006-07 Budget Estimates Hearing The Hon. John Brumby MP Treasurer

  16. Historical infrastructure spending Infrastructure Spending (selected years) GG sector GG sector Total GG Total GG Year Infrastructure Infrastructure Infrastructure Infrastructure Spending (gross) Spending (gross) Spending (gross) Spending Nominal $m Real $m Nominal $m Real $m 1961-62 100 1075 131 1409 1965-66 134 1330 168 1667 1970-71 176 1504 248 2119 1975-76 414 2115 570 2913 1980-81 491 1538 654 2049 1985-86 935 1954 1168 2441 1990-91 902 1311 1196 1739 1995-96 1164 1512 1402 1821 1997-98 1392 1787 1690 2170 1998-99 1399 1780 1674 2130 2001-02 1904 2164 1954 2221 2003-04 2345 2527 2505 2698 2004-05 1966 2123 2524 2664 2005-06 (rev) 2372 2434 2892 2967 2006-07 (Bud) 2349 2349 3312 3312 Sources: ABS time series data to 2004-05; Treasury and Finance budget & forward estimates

  17. Tax, revenue and GSP • Under this Government, strong economic growth has resulted in GSP growing at a faster rate than taxation and total revenue. 180 Taxation Revenue (incl. GST) 160 Commonwealth Revenue (incl. GST) Index (2000-01 = 100.0) Victorian GSP 140 120 100 2000-01 2002-03 2004-05 2006-07 2008-09

  18. Tax as % of GSP 7.0 New South Wales 6.5 Victoria per cent of nominal GSP 6.0 Queensland 5.5 Australian average 5.0 4.5 4.0 3.5 3.0 1993-94 1995-96 1997-98 1999-00 2001-02 2003-04 2005-06 2007-08 Source: Victorian Budget Papers

  19. Payroll tax rates compared • Reduces payroll tax rate to 5% over next two financial years – cuts costs by $533 million for over 20,000 businesses 7.5% 7.0% 6.5% 6.0% 5.5% 5.0% 4.5% 4.0% Qld Vic WA SA NSW Tas NT ACT Source: Department of Treasury and Finance

  20. Victoria's 5% payroll tax rate (1 July 2008) - Difference from tax payable in Queensland 20,000 Difference between payroll tax payable ($) 15,000 10,000 $11.0 m 5,000 Business pay less tax in Victoria than in Queensland in this range. 0 -5,000 2,700,000 5,200,000 7,700,000 10,200,000 Payroll ($) Difference between Vic and Qld

  21. Land tax rates compared Victoria’s Land Tax rates compared to NSW & Queensland 1999-00 to 2006-07 Land Tax Payable ($) $120,000 $3.425m VIC 2000 $100,000 VIC 2007 NSW 2007 $80,000 QLD 2007* $60,000 $1.541m $40,000 $0.380m $20,000 $0 $0 $1,000,000 $1,995,000 $2,995,000 $3,990 Unimproved Value of Landholdings Source: Department of Treasury and Finance *Using Queensland land tax rates on companies

  22. A further cut to WorkCover premiums • Third consecutive 10% reduction in WorkCover premiums ($170 million savings per year) Rate (%) 3 2004-05 cut 2 2005-06 cut 2006-07 cut 1 0 QLD VIC WA NSW SA Source: Victorian Budget Papers

  23. GST subsidies to other States 2006-07 $ million 2,000 1,500 1,000 500 0 -500 -1,000 -1,500 -2,000 -2,500 NSW Vic Qld WA SA Tas ACT NT Source: Department of Treasury and Finance

  24. First Home Buyers - Victoria & NSW Monthly First Home Buyers - January 2005 to February 2006 4,000 NSW VIC 3,800 3,600 3,400 3,200 3,000 2,800 2,600 2,400 2,200 2,000 5 5 5 5 5 5 5 5 5 5 5 5 6 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - - - - - - - - - - - - - - b r n g b n r y l p t v c n u a p c a u u o a e e e a e J A O M M J A N J F S D J F

Recommend

Transport Public Accounts and Estimates Committee Friday 9 June 2006 Department of

Transport Public Accounts and Estimates Committee Friday 9 June 2006 Department of

Transport Public Accounts and Estimates Committee Friday 9 June 2006 Department of Infrastructure 2 Key Financials - 2006-07 Budget Parameters Operating Expenditure 2004-05 2005-06 2005-06 2006-07 Actual Budget Outturn Budget $m $m

468 views • 15 slides
RACING PORTFOLIO Public Accounts & Estimates Committee 16 June 2006 The Hon John

RACING PORTFOLIO Public Accounts & Estimates Committee 16 June 2006 The Hon John

RACING PORTFOLIO Public Accounts & Estimates Committee 16 June 2006 The Hon John Pandazopoulos MP Minister for Racing Introduction Victoria lengths ahead Legislation Funding Industry Development Justice Budget Breakdown

517 views • 14 slides
Public Accounts & Estimates Committee Minister for State and Regional Development Minister

Public Accounts & Estimates Committee Minister for State and Regional Development Minister

Public Accounts & Estimates Committee Minister for State and Regional Development Minister for Innovation June 2006 Focus of DIIRD Challenges ahead require a sustained commitment: High Australian dollar, mining boom High energy

426 views • 13 slides
Major Projects Public Accounts and Estimates Committee Friday 16 June 2006 John Lenders, MP

Major Projects Public Accounts and Estimates Committee Friday 16 June 2006 John Lenders, MP

Major Projects Public Accounts and Estimates Committee Friday 16 June 2006 John Lenders, MP Minister for Major Projects Department of Infrastructure 2 Growing infrastructure investment $ billion Average annual expenditure 3.5 3.0 2.5

340 views • 21 slides
Gaming Portfolio Public Accounts and Estimates Committee 16 June 2006 The Hon John Pandazopoulos

Gaming Portfolio Public Accounts and Estimates Committee 16 June 2006 The Hon John Pandazopoulos

Gaming Portfolio Public Accounts and Estimates Committee 16 June 2006 The Hon John Pandazopoulos MP Minister for Gaming Introduction Gambling portfolio outputs Gambling trends Gambling strategy Achievements 2005/06

260 views • 15 slides
Environment Minister for Environment, John Thwaites Budget 2006-07 Policy Frameworks,

Environment Minister for Environment, John Thwaites Budget 2006-07 Policy Frameworks,

Public Accounts and Estimates Committee 2006 Environment Minister for Environment, John Thwaites Budget 2006-07 Policy Frameworks, Sustainable Catchment Regulations and Management and Services to Protect the Biodiversity, $171.8,

249 views • 13 slides
Consumer Affairs Consumer Affairs Public Accounts & Estimates Committee Public Accounts

Consumer Affairs Consumer Affairs Public Accounts & Estimates Committee Public Accounts

Consumer Affairs Consumer Affairs Public Accounts & Estimates Committee Public Accounts & Estimates Committee 5 July 2006 5 July 2006 The Hon Marsha Thomson MP The Hon Marsha Thomson MP Minister for Consumer Affairs Minister for

323 views • 14 slides
Public Accounts & Estimates Committee Justin Madden MLC Minister for Commonwealth Games 21

Public Accounts & Estimates Committee Justin Madden MLC Minister for Commonwealth Games 21

Public Accounts & Estimates Committee Justin Madden MLC Minister for Commonwealth Games 21 June 2006 Commonwealth Games objectives Deliver a high quality sporting program for high performance athletes of the Commonwealth of Nations

802 views • 12 slides
Information and Communication Technology Public Accounts and Estimates Committee Wednesday 5

Information and Communication Technology Public Accounts and Estimates Committee Wednesday 5

Information and Communication Technology Public Accounts and Estimates Committee Wednesday 5 July 2006 The Hon. Marsha Thomson MLC Minister for Information and Communication Technology Department of Infrastructure Department of Premier and

304 views • 11 slides
Public Accounts and Estimates Committee Hearing Sport and Recreation Portfolio Minister for

Public Accounts and Estimates Committee Hearing Sport and Recreation Portfolio Minister for

Public Accounts and Estimates Committee Hearing Sport and Recreation Portfolio Minister for Sport and Recreation Sport and Recreation Portfolio The Governments commitment to strengthening communities is integral to Growing Victoria

483 views • 10 slides
PRESENTATION OF FIRST-HALF 2006 ACCOUNTS 32 Hoche - PARIS 6 September 2006 This presentation

PRESENTATION OF FIRST-HALF 2006 ACCOUNTS 32 Hoche - PARIS 6 September 2006 This presentation

PRESENTATION OF FIRST-HALF 2006 ACCOUNTS 32 Hoche - PARIS 6 September 2006 This presentation contains projections and forecasts. They express objectives based on the current assessments and estimates of the Groups senior management which are

887 views • 63 slides
Department of Accounts Budget Highlights Cardinal Initiative House Appropriations Committee

Department of Accounts Budget Highlights Cardinal Initiative House Appropriations Committee

Department of Accounts Budget Highlights Cardinal Initiative House Appropriations Committee Technology Oversight and Government Activities Subcommittee David A. Von Moll State Comptroller January 22, 2013 Photo by Karl Steinbrenner Budget

477 views • 18 slides
Standing Committee on Public Accounts Eskom delegation is as follows: Ms Sindi

Standing Committee on Public Accounts Eskom delegation is as follows: Ms Sindi

Standing Committee on Public Accounts Eskom delegation is as follows: Ms Sindi Mabaso-Koyana - Board Audit & Risk Committee Chair Mr Phakamani Hadebe - Interim Group Chief Executive Ms Ayanda Noah - Group Executive

414 views • 19 slides
TfN Audit & Governance Committee Item 6b TfN Draft Statement of Accounts 2019/20 Audit

TfN Audit & Governance Committee Item 6b TfN Draft Statement of Accounts 2019/20 Audit

TfN Audit & Governance Committee Item 6b TfN Draft Statement of Accounts 2019/20 Audit & Governance Committee Contents Public Inspection Period Basis of Preparation Key Items in this Years Accounts Structure of

455 views • 26 slides
STANDING COMMITTEE ON PUBLIC ACCOUNTS PRESENTATION AND STATUS UPDATE GUIDE FOR OFFICIALS:

STANDING COMMITTEE ON PUBLIC ACCOUNTS PRESENTATION AND STATUS UPDATE GUIDE FOR OFFICIALS:

STANDING COMMITTEE ON PUBLIC ACCOUNTS PRESENTATION AND STATUS UPDATE GUIDE FOR OFFICIALS: PROVINCIAL AUDITOR REPORT CONSIDERATION December 2016 LEGISLATIVE ASSEMBLY OF SASKATCHEWAN Contents

427 views • 11 slides
A PRESENTATION TO THE PUBLIC ACCOUNTS COMMITTEE FEBRUARY 4, 2016 Grazing Leases Overview

A PRESENTATION TO THE PUBLIC ACCOUNTS COMMITTEE FEBRUARY 4, 2016 Grazing Leases Overview

A PRESENTATION TO THE PUBLIC ACCOUNTS COMMITTEE FEBRUARY 4, 2016 Grazing Leases Overview First instituted in Alberta in 1881 Crown land designated for agricultural use 5,700 leases ... 5.3 million acres (2.1M Ha) Average lease

148 views • 12 slides
PUBLIC PRESENTATION April 24, 2018 1 CURRENT OPTIONS CURRENT BUDGET ESTIMATES OPTION

PUBLIC PRESENTATION April 24, 2018 1 CURRENT OPTIONS CURRENT BUDGET ESTIMATES OPTION

QUAKERTOWN COMMUNITY SCHOOL DISTRICT NEIDIG ELEMENTARY SCHOOL additions and renovations PUBLIC PRESENTATION April 24, 2018 1 CURRENT OPTIONS CURRENT BUDGET ESTIMATES OPTION COMPARISONS NEXT STEPS 2 CURRENT OPTIONS CURRENT BUDGET

315 views • 30 slides
Audit & Governance Committee Contents Public Inspection Period Basis of Preparation

Audit & Governance Committee Contents Public Inspection Period Basis of Preparation

TfN Statement of Accounts Audit & Governance Committee Contents Public Inspection Period Basis of Preparation Structure of the Accounts Core Financial Statements Reconciliation of Management Outturn to CIES Key Items

217 views • 20 slides
CLAREMONT PUBLIC SCHOOLS FY21 BUDGET PRESENTATION CSB Budget Sub-Committee: Frank Sprague Jason

CLAREMONT PUBLIC SCHOOLS FY21 BUDGET PRESENTATION CSB Budget Sub-Committee: Frank Sprague Jason

CLAREMONT PUBLIC SCHOOLS FY21 BUDGET PRESENTATION CSB Budget Sub-Committee: Frank Sprague Jason Benware Mike Petrin Richard Seaman Michael Tempesta Ensure delivery of a NO Tax-Payer Increase; neutral budget! Create efficiencies

463 views • 8 slides
RECENT REVENUE ESTIMATES (A PRESENTATION TO THE INTERIM JOINT COMMITTEE ON APPROPRIATIONS AND

RECENT REVENUE ESTIMATES (A PRESENTATION TO THE INTERIM JOINT COMMITTEE ON APPROPRIATIONS AND

1 RECENT REVENUE ESTIMATES (A PRESENTATION TO THE INTERIM JOINT COMMITTEE ON APPROPRIATIONS AND REVENUE) JOHN CHILTON, STATE BUDGET DIRECTOR GREG HARKENRIDER, DEPUTY EXECUTIVE DIRECTOR OCTOBER 26, 2017 Office of State Budget Director

304 views • 27 slides
San Diego Mesa College Budget Allocation and Resource Committee - 15-16 Summary and

San Diego Mesa College Budget Allocation and Resource Committee - 15-16 Summary and

San Diego Mesa College Budget Allocation and Resource Committee - 15-16 Summary and Recommendations AMOUNT a ESTIMATES REQUESTS BUDGET AUGMENTATION b 37 $ 146,865 PERKINS/OTHER FUNDING 9 $ 88,523 PC REPLACEMENT c 1 $ 100,000 FACILITY

124 views • 8 slides
APPROPRIATIONS AND REVENUE COMMITTEE PRESENTATION 2020 2022 GOVERNORS RECOMMENDED BUDGET

APPROPRIATIONS AND REVENUE COMMITTEE PRESENTATION 2020 2022 GOVERNORS RECOMMENDED BUDGET

APPROPRIATIONS AND REVENUE COMMITTEE PRESENTATION 2020 2022 GOVERNORS RECOMMENDED BUDGET FEBRUARY 4, 2020 Office of State Budget Director A Responsible Budget 2 Is balanced and transparent Adheres to the revenue estimates of

687 views • 53 slides
Assessing the Public Budget A Framework Public Expenditure Clinic for Benins Finance

Assessing the Public Budget A Framework Public Expenditure Clinic for Benins Finance

Assessing the Public Budget A Framework Public Expenditure Clinic for Benins Finance Committee of the Parliament Vinaya Swaroop World Bank, Washington, DC December 13th, 1999 Public Budget Assessment... should be done on the basis of

411 views • 14 slides
Niagara Region 2011 Budget January 13, 2011 Budget Review Committee of the Whole 1 Agenda 1.

Niagara Region 2011 Budget January 13, 2011 Budget Review Committee of the Whole 1 Agenda 1.

Niagara Region 2011 Budget January 13, 2011 Budget Review Committee of the Whole 1 Agenda 1. Overview of Niagara Regions Budget Process 2. Public Engagement Session November 18, 2010 3. Operating Budget 4. Capital Budget 5.

491 views • 45 slides

More recommend