Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

The government will not be supporting this amendment. The debit limit for national partnership payments or drawing-rights limit, as it was previously known, has been around $20 billion for several years. In 2013-14 it was set at $19 billion and in this financial year it is set at $25 billion, as it is proposed to be for next year. The amount is set at this level to ensure that the Commonwealth has appropriate provision to not only deal with existing undertakings to the states but also to deal with any large-scale natural disasters or to fund new programs that may be required between estimates updates or to manage other major unexpected events. There is also a large difference between cash and accrual estimates for natural-disaster relief and recovery-arrangement payments. This is a factor that needs to be taken into account when considering Senator Leyonhjelm's amendment. We do not believe it would be responsible for the Senate to support this amendment and we very strongly recommend the Senate vote against it.