Page 1168 - Week 04 - Thursday, 21 May 2020
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(3) The ACT’s cost of debt is determined by a range of factors including current global economic and financial market conditions, the proposed bond issuance maturities (term) and coupon rates, and the ACT’s outstanding bond line volumes and perceived liquidity. Interest rates and credit spreads continually change.
The impact on a downgrade in our credit rating is hypothetical. Australian semi-government issuers who currently have a AA+ rating have a cost of funds approximately 0.05% to 0.10% per annum higher than the ACT’s current cost of funds.
(4) No.
Standard & Poor’s weighted Government credit rating assessment methodology incorporates a wide range of factors to inform their credit rating decision, with the annual debt servicing requirements on the ACT’s outstanding debt being only one element. The methodology includes an assessment of the institutional framework supporting State and Territory Governments; strength of the local economy; financial management; budgetary performance; liquidity and debt.
Energy––electricity concessions
(Question No 2974)
Ms Le Couteur asked the Treasurer, upon notice, on 3 April 2020:
(1) How many people receive the utilities concession.
(2) Is the concession paid as a reduction of a person’s electricity bill; if so, are there any people receiving the concession whose electricity bill is such that they do not receive the full amount of the subsidy; if so, how many people and what is the average amount that they forgo.
Mr Barr: The answer to the member’s question is as follows:
1. 26,833 as at 6 April 2020.
2. The full concession amount for the relevant billing period is applied to a customer’s electricity bill as a credit. This will reduce the amount owing on the bill or can leave a credit on the account. The credit can also be transferred to a customer’s gas or water account if their services are with the same provider.
Budget––roads
(Question No 2975)
Ms Le Couteur asked the Treasurer, upon notice, on 3 April 2020:
(1) What is the total budgeted expenditure on roads and parking infrastructure in each of the four budget years of the 2019-20 Budget.
(2) Can the Treasurer itemise, by budget item and project, indicating for each item the (a) current status of the project (eg design yet to commence, design completed, construction underway) and (b) expected start year of construction procurement.
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