David Coleman (Banks, Liberal Party, Assistant Minister for Finance) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

Appropriation Bill (No. 2) 2018 -2019, along with Appropriation Bill(No.1)2018-2019 and Appropriation(Parliamentary Departments)Bill(No.1)2018-2019, are the Budget Appropriation Bills for this financial year.

This Bill seeks approval for appropriations from the Consolidated Revenue Fund of just over $13 billion.

I now outline the significant items provided for in this Bill.

First, the Department of Communications and the Arts will receive just over $5 billion. This will be used to provide NBN Co. with a Government loan on commercial terms to support the completion of the National Broadband Network.

Second, the Department of Defence will receive just over $3 billion to enable the purchase of military equipment and the construction of support facilities, as announced in the 2016 Defence White Paper.

Third, the Department of Infrastructure, Regional Development and Cities will receive approximately $2.4 billion, including equity investment for the delivery of Western Sydney Airport and Inland Rail, and concessional loan funding for Stage 2 of the WestConnex project.

Details of the proposed expenditure are set out in the Schedules to the Bill and the Portfolio Budget Statements tabled in the Parliament.

Debate adjourned.