Stephen Jones (Whitlam, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

I move:

That the bill be now read a second time.

This bill, Appropriation Bill (No. 2), along with Appropriation Bill (No. 1) and the Appropriation (Parliamentary Departments) Bill (No. 1), are the budget appropriation bills for 2025-26.

Appropriation Bill (No. 2) seeks approval for appropriations from the Consolidated Revenue Fund of $14.6 billion. This broadly represents seven-twelfths of the estimated 2025-26 annual appropriations and provides funding for new measures announced in tonight's budget. The supply bills currently before the parliament provide for the balance of annual appropriations for 2025-26—that is funding for the first five months of 2025-26.

Together with the Supply Bill (No. 2) 2025-26, this bill provides appropriations for services that are not the ordinary annual services of government for the full year of 2025-26.

I now outline the most significant items provided for in this bill.

First, the Department of Defence will receive close to $7.2 billion to support the implementation of the 2024 National Defence Strategy and the 2024 Integrated Investment Program, including through investments in military capability, as well as enabling ICT capabilities and infrastructure.

The Department of Infrastructure, Transport, Regional Development, Communications and the Arts will receive approximately $2.3 billion, including funding for Government Business Enterprises to continue to deliver projects, including the Australian Rail Track Corporation for the Inland Rail program, the NBN Co for completion of fibre upgrades, and the WSA Co for Western Sydney International (Nancy-Bird Walton) Airport. Funding will also be provided to the National Intermodal Corporation for the development of intermodal projects, and for the Roads to Recovery and Local Roads and Community Infrastructure programs.

The Department of Finance will receive over $1.6 billion, including funding for Australian Naval Infrastructure Pty Ltd and the Snowy Hydro Limited construction loan.

This bill also contains an advance to the Finance Minister (AFM) provision of $600 million to provide the government with the capacity to allocate additional appropriations for urgent and unforeseen expenditure during 2025-26. However, if this bill were passed along with Supply Bill (No. 2), the total allowable AFM cannot exceed the $600 million under Supply Bill (No. 2). This amount is equivalent to that which was provided in the same facility in 2024-25.

Details of the proposed expenditure are set out in the schedules to the bill, the explanatory memorandum, and the portfolio budget statements tabled in relation to the supply bills and budget bills for 2025-26. I commend this bill to the chamber.

Debate adjourned.