Economics

1 January 2011 - 30 June 2011

	Matters Current as at 1 January 2011	Matters referred during period*	Reports tabled that discharge a reference**	Current inquiries as at 30 June 2011
Legislation	1	11	12	0
References	3	3	3 + (6**)	3
Total	4	14	15	3

Number and Hours of Meeting
	Public	Hrs	Public Estimates	Hrs	Private	Hrs	Insp/Other	Hrs	Total Meetings	Total Hours
Legislation	5	17:18	6	67:37	22	3:01	0	0:00	33	87:56
References	11	57:37	0	0:00	22	8:07	0	0:00	33	65:44
Total	16	74:55	6	67:37	44	11:08	0	0:00	66	153:40

Meetings by State
	ACT	NSW	VIC	TAS	SA	WA	NT	QLD
Legislation	31	2	0	0	0	0	0	0
References	25	3	4	0	0	0	0	1
Total	56	5	4	0	0	0	0	1

		Witnesses			Hansard Pages
	Televised hearings	Estimates	Other (Bills)	General	Estimates	Other (Bills)	General	No. of submissions	No. of Pages	Government Responses
Legislation	9	487	59	0	749	177	0	70	528	1
References	5	0	0	114	0	0	764	205	1522	4
Total	14	487	59	114	749	177	764	275	2050	5

* Includes referral of Annual Reports x 1; estimates x 2
** 6 interim reports

 

Economics (Legislation)

1 January 2011 to 30 June 2011

Method of appointment

Pursuant to amended Senate Standing Order 25.

Current members	Date of appointment
Senator Annette Hurley (SA, ALP) (elected Chair on 30.09.10)	30.09.10
Senator Alan Eggleston (WA, LP) (elected Deputy Chair on 10.02.11)	09.02.11
Senator David Bushby (TAS, LP) (Deputy Chair 30.09.10–09.02.11)	30.09.10
Senator Doug Cameron (NSW, ALP)	30.09.10
Senator Louise Pratt (WA, ALP)	30.09.10
Senator John Williams (NSW, NATS)	30.09.10
Senator Nick Xenophon (SA, IND)	30.09.10

Participating members	Date of appointment
Senator the Hon Eric Abetz (TAS, LP)	30.09.10
Senator Judith Adams (WA, LP)	30.09.10
Senator Chris Back (WA, LP)	30.09.10
Senator Guy Barnett (TAS, LP)	30.09.10
Senator Cory Bernardi (SA, LP)	30.09.10
Senator Catryna Bilyk (TAS, ALP)	30.09.10
Senator Simon Birmingham (SA, LP)	30.09.10
Senator Mark Bishop (WA, ALP)	30.09.10
Senator the Hon Ronald Boswell (QLD, NATS)	30.09.10
Senator Sue Boyce (QLD, LP)	30.09.10
Senator the Hon George Brandis (QLD, LP)	30.09.10
Senator Bob Brown (TAS, AG)	30.09.10
Senator Carol Brown (TAS, ALP)	30.09.10
Senator Michaelia Cash (WA, LP)	30.09.10
Senator the Hon Richard Colbeck (TAS, LP)	30.09.10
Senator Jacinta Collins (VIC, ALP)	30.09.10
Senator the Hon Richard Colbeck (TAS, LP)	30.09.10
Senator the Hon Helen Coonan (NSW, LP)	30.09.10
Senator Mathias Cormann (WA, LP)	30.09.10
Senator Trish Crossin (NT, ALP)	30.09.10
Senator the Hon John Faulkner (NSW, ALP)	30.09.10
Senator the Hon Alan Ferguson (SA, LP)	30.09.10
Senator Steve Fielding (VIC, FFP)	30.09.10
Senator Concetta Fierravanti-Wells (NSW, LP)	30.09.10
Senator Mitch Fifield (VIC, LP)	30.09.10
Senator Mary Jo Fisher (SA, LP)	30.09.10
Senator Michael Forshaw (NSW, ALP)	30.09.10
Senator Mark Furner (QLD, ALP)	30.09.10
Senator Sarah Hanson-Young (SA, AG)	30.09.10
Senator the Hon Bill Heffernan (NSW, LP)	30.09.10
Senator Gary Humphries (ACT, LP)	30.09.10
Senator Steve Hutchins (NSW, ALP)	30.09.10
Senator the Hon David Johnston (WA, LP)	30.09.10
Senator Barnaby Joyce (QLD, NATS)	30.09.10
Senator Helen Kroger (VIC, LP)	30.09.10
Senator Scott Ludlam (WA, AG)	30.09.10
Senator the Hon Ian Macdonald (QLD, LP)	30.09.10
Senator Gavin Marshall (VIC, ALP)	30.09.10
Senator the Hon Brett Mason (QLD, LP)	30.09.10
Senator Anne McEwen (SA, ALP)	30.09.10
Senator Julian McGauran (VIC, LP)	30.09.10
Senator Christine Milne (TAS, AG)	30.09.10
Senator the Hon Nicholas Minchin (SA, LP)	30.09.10
Senator Claire Moore (QLD, ALP)	30.09.10
Senator Fiona Nash (NSW, NATS)	30.09.10
Senator Kerry O'Brien (TAS, ALP)	30.09.10
Senator Stephen Parry (TAS, LP)	30.09.10
Senator Marise Payne (NSW, LP)	30.09.10
Senator Helen Polley (TAS, ALP)	30.09.10
Senator the Hon Michael Ronaldson (VIC, LP)	30.09.10
Senator Scott Ryan (VIC, LP)	30.09.10
Senator the Hon Nigel Scullion (NT, CLP)	30.09.10
Senator Rachel Siewert (WA, AG)	30.09.10
Senator Glen Sterle (WA, ALP)	30.09.10
Senator the Hon Ursula Stephens (NSW, ALP)	30.09.10
Senator Glenn Sterle (WA, ALP)	30.09.10
Senator the Hon Judith Troeth (VIC, LP)	30.09.10
Senator Russell Trood (QLD, LP)	30.09.10
Senator John Williams (NSW, NATS)	09.02.11
Senator Dana Wortley (SA, ALP)	30.09.10

Former member	Term of appointment
Senator John Williams (NSW, NATS)	30.09.10–09.02.11

Former participating member	Term of appointment
Senator Alan Eggleston (WA, LP)	30.09.10–09.02.11

Inquiries
As at 1 January 2011

• Federal Financial Relations Amendment (National Health and Hospitals Network) Bill 2010 [Provisions] (referred 28 October 2010—through the Selection of Bills Committee)

Current inquiries

As at 30 June 2011

• Nil

New references

1 January 2011–30 June 2011

• Foreign Acquisitions Amendment (Agricultural Land) Bill 2010 (referred 10 February 2011—through the Selection of Bills Committee)
• Provisions of Schedule 2 of the Tax Laws Amendment (2010 Measures No. 5) Bill 2010 (referred 10 February 2011—through the Selection of Bills Committee)
• Customs Amendment (Anti-Dumping) Bill 2011 (referred 3 March 2011—through the Selection of Bills Committee)
• Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 and Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 (referred 3 March 2011—through the Selection of Bills Committee)
• Customs Amendment (Anti-dumping Measures) Bill 2011 [Provisions] (referred 24 March 2011—through the Selection of Bills Committee)
• Offshore Petroleum and Greenhouse Gas Storage Amendment (National Regulator) Bill 2011 [Provisions], Offshore Petroleum and Greenhouse Gas Storage (Registration Fees) Amendment Bill 2011 [Provisions], Offshore Petroleum (Royalty) Amendment Bill 2011 [Provisions], Offshore Resources Legislation Amendment (Personal Property Securities) Bill 2011 [Provisions] and Offshore Petroleum and Greenhouse Gas Storage Regulatory Levies Legislation Amendment (2011 Measures No. 2) Bill 2011 [Provisions] (referred 25 May 2011 pursuant to the order of the Senate of 12 May 2011)
• Schedule 4 of the Families, Housing, Community Services and Indigenous Affairs and Other Legislation Amendment (Further Election Commitments and Other Measures) Bill 2011 (referred 15 June 2011—through the Selection of Bills Committee)
• Schedule 5 of the Tax Laws Amendment (2011 Measures No. 5) Bill 2011 [Provisions] (referred 15 June 2011—through the Selection of Bills Committee)

Public hearings

1 January 2011–30 June 2011

• 2010–11 Additional Estimates—23 to 24 February 2011, Canberra
• Schedule 2 of the Tax Laws Amendment (2010 Measures No. 5) Bill 2010 [Provisions]—9 March 2011, Sydney
• Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 and Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011—11 March 2011, Canberra
• Foreign Acquisitions Amendment (Agricultural Land) Bill 2010—12 April 2011, Canberra
• Customs Amendment (Anti-dumping) Bill 2011 and Customs Amendment (Anti-dumping Measures) Bill 2011—4 May 2011, Canberra
• 2011–12 Budget Estimates—30 May to 2 June 2011, Canberra
• Offshore Petroleum and Greenhouse Gas Storage Amendment (National Regulator) Bill 2011 [Provisions], Offshore Petroleum and Greenhouse Gas Storage (Registration Fees) Amendment Bill 2011 [Provisions], Offshore Petroleum (Royalty) Amendment Bill 2011 [Provisions], Offshore Resources Legislation Amendment (Personal Property Securities) Bill 2011 [Provisions] and Offshore Petroleum and Greenhouse Gas Storage Regulatory Levies Legislation Amendment (2011 Measures No. 2) Bill 2011 [Provisions]—7 June 2011, Canberra & Perth

Reports tabled

1 January 2011–30 June 2011

• Federal Financial Relations Amendment (National Health and Hospitals Network) Bill 2010 [Provisions] (tabled 9 February 2011)
• Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 and Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 (tabled 21 March 2011)
• Additional Estimates 2010–11 (tabled 22 March 2011)
• Annual reports (No. 1 of 2011) (tabled 23 March 2011)
• Benchmark Interest Rate for Capital Protected Borrowings: Provisions of Schedule 2 of the Tax Laws Amendment (2010 Measures No. 5) Bill 2010 (presented on 25 March 2011; tabled 10 May 2011)
• Offshore Petroleum and Greenhouse Gas Storage Amendment (National Regulator) Bill 2011 [Provisions], Offshore Petroleum and Greenhouse Gas Storage (Registration Fees) Amendment Bill 2011 [Provisions], Offshore Petroleum and Greenhouse Gas Storage Regulatory Levies Legislation Amendment (2011 Measures No. 2) Bill 2011 [Provisions], Offshore Petroleum (Royalty) Amendment Bill 2011 [Provisions], Offshore Resources Legislation Amendment (Personal Property Securities) Bill 2011 [Provisions] (tabled 16 June 2011)
• Foreign Acquisitions Amendment (Agricultural Land) Bill 2010 (tabled 16 June 2011)
• Reform of the car fringe benefits tax rules: Provisions of Schedule 5 of the Tax Laws Amendment (2011 Measures No. 5) Bill 2011 (tabled 22 June 2011)
• Customs Amendment (Anti-Dumping) Bill 2011 [Provisions] (tabled 22 June 2011)
• Customs Amendment (Anti-Dumping Measures) Bill 2011 [Provisions] (tabled 22 June 2011)
• Notice of payments of recompense for personal injuries: Provisions of Schedule 4 of the Families, Housing, Community Services and Indigenous Affairs and Other Legislation Amendment (Further Election Commitments and Other Measures) Bill 2011 (tabled 22 June 2011)
• Budget Estimates 2011–12 (tabled 23 June 2011)

Government responses

1 January 2011–30 June 2011

• Tax Laws Amendment (Public Benefit Test) Bill 2010 (presented out of session on 11 February 2011; tabled 28 February 2011; report tabled 7 September 2010)

Estimates

A statistical summary of this Committee's work when considering Estimates appears in Part Five.

Economics (References)

1 January 2011 to 30 June 2011

Method of appointment

Pursuant to amended Senate Standing Order 25.

Current members	Date of appointment
Senator Alan Eggleston (WA, LP) (elected Chair on 10.02.11)	09.02.11
Senator Annette Hurley (SA, ALP) (elected Deputy Chair on 30.09.10)	30.09.10
Senator David Bushby (TAS, LP) (Chair 30.09.10–09.02.11)	30.09.10
Senator Julian McGauran (VIC, LP)	30.09.10
Senator Louise Pratt (WA, ALP)	30.09.10
Senator Nick Xenophon (SA, IND)	30.09.10

Substitute member	Date of appointment
Senator Kerry O'Brien (TAS, ALP)[1]	03.03.11

Participating members	Date of appointment
Senator the Hon Eric Abetz (TAS, LP)	30.09.10
Senator Judith Adams (WA, LP)	30.09.10
Senator Chris Back (WA, LP)	30.09.10
Senator Guy Barnett (TAS, LP)	30.09.10
Senator Cory Bernardi (SA, LP)	30.09.10
Senator Catryna Bilyk (TAS, ALP)	30.09.10
Senator Simon Birmingham (SA, LP)	30.09.10
Senator Mark Bishop (WA, ALP)	30.09.10
Senator the Hon Ronald Boswell (QLD, NATS)	30.09.10
Senator Sue Boyce (QLD, LP)	30.09.10
Senator the Hon George Brandis (QLD, LP)	30.09.10
Senator Bob Brown (TAS, AG)	30.09.10
Senator Carol Brown (TAS, ALP)	30.09.10
Senator Doug Cameron (NSW, ALP)	30.09.10
Senator Michaelia Cash (WA, LP)	30.09.10
Senator the Hon Richard Colbeck (TAS, LP)	30.09.10
Senator the Hon Helen Coonan (NSW, LP)	30.09.10
Senator Mathias Cormann (WA, LP)	30.09.10
Senator Trish Crossin (NT, ALP)	30.09.10
Senator the Hon John Faulkner (NSW, ALP)	30.09.10
Senator the Hon Alan Ferguson (SA, LP)	30.09.10
Senator Steve Fielding (VIC, FFP)	30.09.10
Senator Concetta Fierravanti-Wells (NSW, LP)	30.09.10
Senator Mitch Fifield (VIC, LP)	30.09.10
Senator Mary Jo Fisher (SA, LP)	30.09.10
Senator Michael Forshaw (NSW, ALP)	30.09.10
Senator Mark Furner (QLD, ALP)	30.09.10
Senator Sarah Hanson-Young (SA, AG)	30.09.10
Senator the Hon Bill Heffernan (NSW, LP)	30.09.10
Senator Gary Humphries (ACT, LP)	30.09.10
Senator Steve Hutchins (NSW, ALP)	30.09.10
Senator the Hon David Johnston (WA, LP)	30.09.10
Senator Barnaby Joyce (QLD, NATS)	30.09.10
Senator Helen Kroger (VIC, LP)	30.09.10
Senator Scott Ludlam (WA, AG)	30.09.10
Senator the Hon Ian Macdonald (QLD, LP)	30.09.10
Senator Gavin Marshall (VIC, ALP)	30.09.10
Senator the Hon Brett Mason (QLD, LP)	30.09.10
Senator Anne McEwen (SA, ALP)	30.09.10
Senator Christine Milne (TAS, AG)	30.09.10
Senator the Hon Nicholas Minchin (SA, LP)	30.09.10
Senator Claire Moore (QLD, ALP)	30.09.10
Senator Fiona Nash (NSW, NATS)	30.09.10
Senator Kerry O'Brien (TAS, ALP)	30.09.10
Senator Stephen Parry (TAS, LP)	30.09.10
Senator Marise Payne (NSW, LP)	30.09.10
Senator Helen Polley (TAS, ALP)	30.09.10
Senator the Hon Michael Ronaldson (VIC, LP)	30.09.10
Senator Scott Ryan (VIC, LP)	30.09.10
Senator the Hon Nigel Scullion (NT, CLP)	30.09.10
Senator Rachel Siewert (WA, AG)	30.09.10
Senator the Hon Ursula Stephens (NSW, ALP)	30.09.10
Senator Glen Sterle (WA, ALP)	30.09.10
Senator the Hon Judith Troeth (VIC, LP)	30.09.10
Senator Russell Trood (QLD, LP)	30.09.10
Senator Dana Wortley (SA, ALP)	30.09.10

Former member	Term of appointment
Senator John Williams (NSW, NATS)	30.09.10–09.02.11

Former participating member	Term of appointment
Senator Alan Eggleston (WA, LP)	30.09.10–09.02.11

Former subcommittee members[2]	Term of appointment
Senator David Bushby (TAS, LP) (elected Chair on 10.02.11)	10.02.11–06.05.11
Senator Annette Hurley (SA, ALP) (elected Deputy Chair on 10.02.11)	10.02.11–06.05.11
Senator Alan Eggleston (WA, LP)	10.02.11–06.05.11
Senator Julian McGauran (VIC, LP)	10.02.11–06.05.11
Senator Louise Pratt (WA, ALP)	10.02.11–06.05.11
Senator Nick Xenophon (SA, IND)	10.02.11–06.05.11

Inquiries
As at 1 January 2011

• Competition within the Australian banking sector (referred 28 October 2010)
• Amendments to the Tax Laws Amendment (2010 Measures No. 4) Bill 2010 proposed by Senator Cormann (Augmented Tax Assessments) (referred 22 November 2010)
• The decision of the Australian Competition and Consumer Commission on the proposed acquisition of Franklins by Metcash Trading Limited (referred 23 November 2010)

Current inquiries

As at 30 June 2011

• Mechanisms and options for the development of a robust capital market for social economy organisations in Australia (referred 9 February 2011)
• The impacts of supermarket price decisions on the Australian dairy industry (referred 10 February 2011)
• Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 [Provisions] and the Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 [Provisions]; current insurance and reinsurance arrangements of the states and territories of their assets and infrastructure; the appropriateness of fiscal arrangements for natural disaster reconstruction efforts; and any related matters (also known as inquiry into State Government insurance and flood levy) (referred 3 March 2011)

New references

1 January 2011–30 June 2011

• Mechanisms and options for the development of a robust capital market for social economy organisations in Australia (referred 9 February 2011)
• The impacts of supermarket price decisions on the Australian dairy industry (referred 10 February 2011)
• Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 [Provisions] and the Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011 [Provisions]; current insurance and reinsurance arrangements of the states and territories of their assets and infrastructure; the appropriateness of fiscal arrangements for natural disaster reconstruction efforts; and any related matters (also known as inquiry into State Government insurance and flood levy) (referred 3 March 2011)

Public hearings

1 January 2011–30 June 2011

• Competition within the Australian banking sector—21 January 2011 & 9 March 2011, Sydney; 25 January 2011, Melbourne; 9 February 2011, Canberra; 4 March 2011, Brisbane
• Augmented Tax Assessments—9 February 2011, Canberra
• The impacts of supermarket price decisions on the dairy industry—8 March 2011, Melbourne; 9 March 2011, Sydney; 10 & 29 March 2011, Canberra
• State government insurance and flood levy—13 May 2011, Canberra

Reports tabled

1 January 2011–30 June 2011

• Decision of the Australian Competition and Consumer Commission on the proposed acquisition of Franklins by Metcash Trading Limited—Interim report (presented out of session on 6 December 2010; tabled 9 February 2011)
• Decision of the Australian Competition and Consumer Commission on the proposed acquisition of Franklins by Metcash Trading Limited (tabled 28 February 2011)
• Augmented tax assessments [Inquiry into amendments proposed by Senator Cormann on sheet 7010 to the Tax Laws Amendment (2010 Measures No. 4) Bill 2010]—Interim report (presented out of session on 31 March 2011; tabled 10 May 2011)
• Augmented tax assessments [Inquiry into amendments proposed by Senator Cormann on sheet 7010 to the Tax Laws Amendment (2010 Measures No. 4) Bill 2010]—Final report (presented out of session on 8 April 2011; tabled 10 May 2011)
• Impacts of supermarket price decisions on the dairy industry—Interim report (presented out of session on 20 April 2011; tabled 10 May 2011)
• Impacts of supermarket price decisions on the dairy industry—Second Interim report (presented out of session on 9 May 2011; tabled 10 May 2011)
• Competition within the Australian banking sector—Interim report (presented out of session on 20 April 2011; tabled 10 May 2011)
• Competition within the Australian banking sector—Final report (presented out of session on 6 May 2011; tabled 10 May 2011)
• State government insurance and the flood levy—Interim report (presented out of session on 20 April 2011; tabled 10 May 2011)
• State government insurance and the flood levy—Second Interim report (presented out of session on 30 June 2011)

Government responses

1 January 2011–30 June 2011

• Employee share schemes (presented out of session on 7 February 2011, tabled 9 February 2011; report tabled 17 August 2009)
• Impacts of supermarket price decisions on the dairy industry—Interim report (tabled 12 May 2011; report tabled 20 April 2011)
• The regulation, registration and remuneration of insolvency practitioners in Australia: the case for a new framework (role of liquidators and administrators)—Interim response, together with options paper: a modernization and harmonisation of the regulatory framework applying to insolvency practitioners in Australia (presented out of session on 9 June 2011; tabled 14 June 2011; report tabled 14 September 2010)
• Foreign investment by state-owned entities (tabled 23 June 2011, report tabled 17 September 2009)

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