1.1
The Senate Economics Legislation Committee (the committee) is responsible for examining the expenditure and outcomes of the Treasury Portfolio, and the Industry, Science and Resources Portfolio (Industry Portfolio).
Documents referred
1.2
The Portfolio Budget Statements (PBS) for the Treasury Portfolio and Industry Portfolio were tabled in the Senate on 25 October 2022.
1.3
On 25 October 2022, the Senate referred the following documents to the committee for examination and report in relation to the abovementioned portfolios:
Particulars of proposed expenditure in respect of the year ending on
30 June 2023;
Particulars of certain proposed expenditure in respect of the year ending on 30 June 2023;
Particulars of proposed expenditure in relation to the parliamentary departments in respect of the year ending on 30 June 2023;
Particulars of proposed expenditure in respect of the year ending on
30 June 2023 [Supply Bill (No. 3) 2022–2023];
Particulars of certain proposed expenditure in respect of the year ending on 30 June 2023 [Supply Bill (No. 4) 2022–2023]; and
Particulars of proposed expenditure in relation to the parliamentary departments in respect of the year ending on 30 June 2023 [Supply (Parliamentary Departments) Bill (No. 2) 2022–2023].
Senate motions
1.4
On 28 September 2022, the Senate agreed to a motion to require the committee to invite the Governor of the Reserve Bank of Australia, Mr Philip Lowe, to attend the estimates hearings.
1.5
On 26 October 2022, the Senate agreed to a motion to require the committee to invite the Chief Executive Officer and Chief Ombudsman of the Australian Financial Complaints Authority (AFCA), Mr David Locke, to attend the estimates hearings.
Budget estimates hearings
1.6
To facilitate the examination of expenditure and outcomes, the Senate set the
8, 9 and 10 November 2022 as the dates for the committee to hold its 2022–23 Budget Estimates hearings for the 47th Parliament, with the first day shared by the Treasury and Industry Portfolios, the second day for Treasury Portfolio only, and the third day shared by Treasury and Industry Portfolios.
1.7
During the course of the hearings, the committee agreed to hold additional hearings to allow adequate time for senators to ask questions of the Department of the Treasury and the Department of Industry, Science and Resources.
1.8
The committee agreed that the additional hearings were to be held on Monday, 28 November 2022 and Thursday, 1 December 2022.
1.9
The agencies that appeared before the committee are included in Chapter 2. The following agencies were scheduled to appear before the committee on
9 November 2022, but were released without questioning:
Inspector-General of Taxation (IGTO);
Royal Australian Mint (RAM);
Commonwealth Grants Commission (CGC); and
Australian Small Business and Family Enterprise Ombudsman (ASBFEO).
1.10
Evidence was provided at the hearings by the following Ministers:
Senator the Hon Katy Gallagher, representing the Treasurer; and
Senator the Hon Tim Ayres, representing the Minister for Industry and Science, and representing the Minister for Resources.
1.11
Evidence was also provided by senior executive officers of the Treasury Portfolio, led by Deputy Secretary, Mr Luke Yeaman, at the hearing on Tuesday, 8 November 2022, and the Secretary, Dr Steven Kennedy PSM, at the additional hearing on Monday, 28 November 2022. The Industry Portfolio was led by the newly appointed Secretary, Ms Meghan Quinn.
1.12
At the invitation of the committee, Mr Philip Lowe, Governor of the Reserve Bank of Australia, provided evidence at the additional hearing on
Monday, 28 November 2022.
1.13
The committee thanks the Ministers and officers who provided evidence and support for the committee’s estimates hearings.
1.14
A verbatim record of the committee’s hearings is made via the Committee Hansard and is accessible on the committee’s estimates webpage. References in this report are to the proof Committee Hansard.
1.15
A list of the documents tabled during the committee’s hearings is available at Appendix 1. A copy of documents tabled are published on the committee’s estimates webpage.
Public interest immunity claims
1.16
On 13 May 2009, the Senate agreed to an order relating to public interest immunity (PII) claims. The order sets out the processes to be followed if a witness declines to answer a question. The full text of this order has previously been provided to departments and agencies and was incorporated in the Chair's opening statement at the commencement of each hearing.
1.17
The committee notes that no PII claims were made by witnesses during its 2022–23 Budget Estimates hearings.
Questions on notice
1.18
In accordance with Standing Order 26(9)(a), the committee has drawn the attention of the departments and agencies to the agreed deadline of
16 December 2022 for the receipt of answers to questions taken on notice (QoNs).
1.19
The committee has drawn the attention of the departments and agencies to the agreed deadline of 27 January 2023 for the receipt of answers to QoNs for the additional hearings on Monday, 28 November 2022 and Thursday, 1 December 2022.
1.20
As the committee is required to report to the Senate before all answers to questions are due, this report has been prepared without reference to any QoN answers.
1.21
Answers to QoNs and additional information provided to the committee are tabled in the Senate and uploaded to the committee's estimates webpage when they become available.
Extension to the reporting date
1.22
The Senate determined that the committee would report on its considerations of the 2022–23 proposed Budget expenditure on 29 November 2022.
1.23
On Monday, 28 November 2022, the committee requested an extension of time to report to allow inclusion of the additional hearings required for the Budget Estimates 2022–23 round.
Report structure
1.24
This report is structured as follows:
Chapter 1—provides an overview of the committee's hearings;
Chapter 2—reports on the key issues considered by the committee during the hearings; and
Appendix 1—lists the documents tabled and additional information provided during the committee's hearings.
1.25
This report does not seek to comprehensively analyse the evidence provided to the committee, rather the report is intended to inform the Senate of the key issues considered by the committee during the course of the hearings.