Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

The purpose of the Statute Stocktake Bill (No.1) 2011 is to repeal 39 redundant special appropriations relating to the Commonwealth's financial framework. This includes the repeal of one statutory special account and 25 redundant acts in their entirety. This is a housekeeping bill and has no material consequence in relation to the provision of government programs, funding or new policy. It is part of an ongoing bipartisan commitment to clean up the statute book and it has occurred through five previous financial framework legislation amendment acts between 2005 and 2010, as well as the Statute Stocktake (Regulatory and Other Laws) Act 2009.

Examples of the types of redundant legislation that this bill seeks to repeal include the Papua New Guinea Loan (International Bank) Act 1974, which related to the Commonwealth's guarantee of a loan that PNG took out with the International Bank for Reconstruction and Development and which has since been repaid. It also includes the State Grants (Special Assistance to South Australia) Act 1960, which granted financial assistance to South Australia during the 1959-60 financial year, with the appropriation having long since been spent.

This is a noncontroversial bill. It is a bill the coalition supports. It raises the question though: how many other redundant bills are still on our statute books as we speak today? Hopefully, not only will this work be continued, it also will be accelerated. It is good housekeeping by the parliament.