A division of the Liberal Party of Australia
NSW STATE GOVERNMENT FINANCIAL MANAGEMENT UNDER SCRUTINY
22 July, 2008
Sign Up for free e-mail updates!
A Senate Select Committee will meet in Sydney on Thursday 24 July to scrutinize the financial management of the New South Wales Government as part of its inquiry into State Government financial management across Australia.
Chair of the Committee, Senator Ian Macdonald (Lib., Qld) said that the committee was looking into Commonwealth funding to the States, the cash and fiscal budgetary position of State Governments and the level of State Government debt.
“The way in which State Governments manage their financial affairs has a direct bearing on the overall economic position in Australia,” Senator Macdonald said.
“This inquiry was set up to look at how State Government financial management impacted upon the Federal Budget.”
“Our inquiry is also looking at levels of investment in infrastructure and State owned utilities and the effect of dividends paid by State utilities on their ability to re-invest.
“One of the issues which the committee is exploring is the effect of investments by State- owned utilities on Australia’s capacity constraints.”
Senator Macdonald said that the Committee has met in Melbourne, Hobart, Perth, Adelaide and Brisbane. It meets in Sydney on Thursday 24 July.
“In the Sydney hearings, we are expecting to take evidence from Mr Mike Baird-Shadow Treasurer, the Reserve Bank of Australia and Mr Robert Carling, a former State and Commonwealth Treasury Official.
“The New South Wales Government were invited to make a submission, but declined to do so,” Senator Macdonald said.
“It is disappointing to me that State Governments have not been prepared to expose their financial management to a Parliamentary Committee, but the written submissions received and the evidence to be given at the hearings will enable the committee to make an assessment on how well the State Government manages its finances.”