Lindsay Tanner (Melbourne, Australian Labor Party, Minister for Finance and Deregulation) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

The Appropriation (Water Entitlements and Home Insulation) Bill 2009-2010 provides urgent funding to cover rebate payments made under the home insulation program and departmental costs associated with the acceleration of the water buybacks within the Murray-Darling Basin system that are addressed in a further bill to be introduced shortly.

The measures provided for in this bill allow administered funding of $695.8 million for the home insulation program to be brought forward (from 2010-11) and departmental funds of $4.9 million to be brought forward ($4.4 million from 2013-14 and $0.5 million from 2014-15) from the Water for the Future – Restoring the Balance in the Murray-Darling Basin program.

The $695.8 million for the home insulation program is part of the $985.8 million bring forward of funding included in the Mid-Year Economic and Fiscal Outlook 2009-10. The remaining $290 million is required less urgently and will be included in the 2009-10 Additional Estimates Appropriation Bill (No.3).

The home insulation program has seen unprecedented demand from householders, with over half a million homes being insulated to date. The uptake level has exceeded initial expectations for the program.

The bill requires immediate passage as the administered appropriations provided to the Department of the Environment, Water, Heritage and the Arts for 2009-10 are close to being exhausted. Based on the current take-up rate under the home insulation program, the 2009-10 appropriation will be exhausted by late December 2009.

The current uptake rate for the program is another positive confirmation of the success of one of the government’s stimulus package measures in supporting jobs in not only the manufacturing industry but also installer job creation and associated logistics. The rate of expenditure is in keeping with providing rapid job support and economic stimulus. Improved energy efficiency for Australian households is also being delivered.

The departmental costs within this bill are for the Department of the Environment, Water, Heritage and the Arts and will provide adequate resourcing to efficiently implement the government’s water purchase program in 2009-10. I commend the bill to the House.

Debate (on motion by Mr Haase) adjourned.