edited
9th Oct 2014
Commonwealth Inscribed Stock Amendment Bill 2013 - Consideration in Detail - Debt ceiling of $400 billion
Not passed by a small majority
No rebellions 90% attendance
14th Nov 2013, 1:09 PM – Senate Commonwealth Inscribed Stock Amendment Bill 2013 - In Committee - Debt ceiling of $400 billion
Summary
EditThe majority voted in favour of an amendment to change the proposed rise in the debt ceiling from $500 billion to $400 billion instead. The amendment was introduced by Labor Senator Penny Wong.
This means that this amendment will now by attached to the bill and returned to the House of Representatives for their consideration.(See the division in the House of Representatives on whether to accept this amendment here. )
Background to Bill
On 22 October 2013, the Abbott Government announced that it will raise the debt ceiling from $300 billion to $500 billion.(Read more about this in the media here. ) This was following the August 2013 Pre-Election Economic and Fiscal Outlook which reported that the Treasurer's standing borrowing authority would reach the $300 billion limit by December 2013.
The purpose of the increase to the debt ceiling is to "provide stability and certainty to financial markets about the Government's ability to issue sufficient debt to manage its budget".(See the explanatory memorandum (106 KB). More about the bill, including its bills digest, is available here.)
Votes Passed by a small majority
Nobody rebelled against their party.
| Party | Votes | |
|---|---|---|
| Australian Greens (100% turnout) | 9 Yes – 0 No | |
| Richard Di Natale Victoria | Yes | |
| Sarah Hanson-Young SA | Yes | |
| Scott Ludlam WA | Yes | |
| Christine Milne Tasmania | Yes | |
| Lee Rhiannon NSW | Yes | |
| Rachel Siewert WA | Yes | |
| Larissa Waters Queensland | Yes | |
| Peter Whish-Wilson Tasmania | Yes | |
| Penny Wright SA | Yes | |
| Australian Labor Party (90% turnout) | 27 Yes – 0 No | |
| Catryna Bilyk Tasmania | Yes | |
| Carol Brown Tasmania | Yes | |
| Doug Cameron NSW | Yes | |
| Kim Carr Victoria | Yes | |
| Jacinta Collins Victoria | Yes | |
| Stephen Conroy Victoria | Yes | |
| Sam Dastyari NSW | Yes | |
| Don Farrell SA | Yes | |
| John Faulkner NSW | Yes | |
| Mark Furner Queensland | Yes | |
| Alex Gallacher SA | Yes | |
| Sue Lines WA | Yes | |
| Joe Ludwig Queensland | Yes | |
| Kate Lundy ACT | Yes | |
| Gavin Marshall Victoria | Yes | |
| Anne McEwen SA | Yes | |
| Jan McLucas Queensland | Yes | |
| Claire Moore Queensland | Yes | |
| Nova Peris NT | Yes | |
| Helen Polley Tasmania | Yes | |
| Lisa Singh Tasmania | Yes | |
| Ursula Stephens NSW | Yes | |
| Glenn Sterle WA | Yes | |
| Lin Thorp Tasmania | Yes | |
| Mehmet Tillem Victoria | Yes | |
| Anne Urquhart Tasmania | Yes | |
| Penny Wong SA | Yes | |
| Mark Bishop WA | Absent | |
| Deborah O'Neill NSW | Absent | |
| Louise Pratt WA | Absent | |
| Nigel Scullion NT Country Liberal Party | No | |
| John Madigan Victoria Democratic Labor Party | No | |
| Stephen Parry Tasmania Deputy President | No | |
| Nick Xenophon SA Independent | No | |
| Liberal Party (89% turnout) | 0 Yes – 24 No | |
| Cory Bernardi SA | No | |
| Simon Birmingham SA | No | |
| Sue Boyce Queensland | No | |
| George Brandis Queensland | No | |
| David Bushby Tasmania | No | |
| Michaelia Cash WA | No | |
| Richard Colbeck Tasmania | No | |
| Mathias Cormann WA | No | |
| Sean Edwards SA | No | |
| Alan Eggleston WA | No | |
| David Fawcett SA | No | |
| Concetta Fierravanti-Wells NSW | No | |
| Mitch Fifield Victoria | No | |
| Bill Heffernan NSW | No | |
| David Johnston WA | No | |
| Helen Kroger Victoria | No | |
| Ian Macdonald Queensland | No | |
| Brett Mason Queensland | No | |
| Marise Payne NSW | No | |
| Anne Ruston SA | No | |
| Scott Ryan Victoria | No | |
| Zed Seselja ACT | No | |
| Arthur Sinodinos NSW | No | |
| Dean Smith WA | No | |
| Eric Abetz Tasmania | Absent | |
| Christopher Back WA | Absent | |
| Michael Ronaldson Victoria | Absent | |
| National Party (100% turnout) | 0 Yes – 4 No | |
| Ron Boswell Queensland | No | |
| Bridget McKenzie Victoria | No | |
| Fiona Nash NSW | No | |
| John Williams NSW | No | |
| Nick Xenophon SA Nick Xenophon Team | Absent | |
| John Hogg Queensland President | Yes | |
| Totals (92% turnout) | 37 Yes – 32 No |
Turnout is the percentage of members eligible to vote that did vote.