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senate vote 2013-12-09#3
Edited by
mackay staff
on
2014-10-09 15:33:47
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Title
Description
The majority voted in favour a [motion](http://www.openaustralia.org/senate/?gid=2013-12-09.40.1) that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [Arthur Sinodinos](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate).Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration. The amendment bill removes the debt ceiling altogether rather than simply raise it to $500 billion._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](http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html). ) This was following the August 2013 [Pre-Election Economic and Fiscal Outlook](http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-2013) 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](http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf) (106 KB). More about the bill, including its bills digest, is available [here](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127).)References- The majority voted in favour a [motion](http://www.openaustralia.org/senate/?gid=2013-12-09.40.1) that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [Arthur Sinodinos](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate).
- Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration. The amendment bill removes the debt ceiling altogether rather than simply raise it to $500 billion.
- _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](http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html). ) This was following the August 2013 [Pre-Election Economic and Fiscal Outlook](http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-2013) 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](http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf) (106 KB). More about the bill, including its bills digest, is available [here](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127).)
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senate vote 2013-12-09#3
Edited by
system
on
2014-10-07 16:21:31
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Title
Description
The majority voted in favour a [http://www.openaustralia.org/senate/?gid=2013-12-09.40.1 motion] that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate Arthur Sinodinos].Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration. The amendment bill removes the debt ceiling altogether rather than simply raise it to $500 billion.''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 [http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html here].
) This was following the August 2013 [http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-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 [http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf explanatory memorandum] (106 KB). More about the bill, including its bills digest, is available [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127 here].)References- The majority voted in favour a [motion](http://www.openaustralia.org/senate/?gid=2013-12-09.40.1) that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [Arthur Sinodinos](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate).
- Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration. The amendment bill removes the debt ceiling altogether rather than simply raise it to $500 billion.
- _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](http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html). ) This was following the August 2013 [Pre-Election Economic and Fiscal Outlook](http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-2013) 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](http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf) (106 KB). More about the bill, including its bills digest, is available [here](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127).)
- References
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senate vote 2013-12-09#3
Edited by
system
on
2014-10-07 16:16:57
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Title
Description
- The majority voted in favour a [http://www.openaustralia.org/senate/?gid=2013-12-09.40.1 motion] that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate Arthur Sinodinos].
- Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration. The amendment bill removes the debt ceiling altogether rather than simply raise it to $500 billion.
- ''Background to Bill''
On 22 October 2013, the Abbott Government announced that it will raise the debt ceiling from $300 billion to $500 billion.[1] This was following the August 2013 [http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-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.- 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 [http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html here].
) This was following the August 2013 [http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-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".[2]- 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 [http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf explanatory memorandum] (106 KB). More about the bill, including its bills digest, is available [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127 here].)
- References
* [1] Read more about this in the media [http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html here].* [2] See the [http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf explanatory memorandum] (106 KB). More about the bill, including its bills digest, is available [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127 here].
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senate vote 2013-12-09#3
Edited by
mackay staff
on
2014-03-05 14:33:21
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Title
Description
- The majority voted in favour a [http://www.openaustralia.org/senate/?gid=2013-12-09.40.1 motion] that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate Arthur Sinodinos].
Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration.- Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration. The amendment bill removes the debt ceiling altogether rather than simply raise it to $500 billion.
- ''Background to Bill''
- On 22 October 2013, the Abbott Government announced that it will raise the debt ceiling from $300 billion to $500 billion.[1] This was following the August 2013 [http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-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".[2]
- References
- * [1] Read more about this in the media [http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html here].
- * [2] See the [http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf explanatory memorandum] (106 KB). More about the bill, including its bills digest, is available [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127 here].
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senate vote 2013-12-09#3
Edited by
mackay staff
on
2014-03-05 13:09:48
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Title
Bills — Commonwealth Inscribed Stock Amendment Bill 2013; Consideration of House of Representatives Message- Commonwealth Inscribed Stock Amendment Bill 2013 - Consideration of House of Representatives Message - Adopt report
Description
<p class="speaker">Arthur Sinodinos</p><p>I move:</p><p class="italic">That the report of the committee now be adopted.</p>- The majority voted in favour a [http://www.openaustralia.org/senate/?gid=2013-12-09.40.1 motion] that the report of the committee now be adopted. It was moved by Assistant Treasurer Senator [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Arthur_Sinodinos&mpc=Senate&house=senate Arthur Sinodinos].
- Since this motion was successful, the bill as amended by the Senate will now be sent to the House of Representatives for their consideration.
- ''Background to Bill''
- On 22 October 2013, the Abbott Government announced that it will raise the debt ceiling from $300 billion to $500 billion.[1] This was following the August 2013 [http://www.treasury.gov.au/PublicationsAndMedia/Publications/2013/PEFO-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".[2]
- References
- * [1] Read more about this in the media [http://www.smh.com.au/federal-politics/political-news/treasurer-joe-hockey-announces-debt-limit-to-increase-to-500-billion-20131022-2vyog.html here].
- * [2] See the [http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5127_ems_dfe1d5b2-bd7c-424c-afc8-efdd37c905b1/upload_pdf/388079.pdf;fileType=application%2Fpdf explanatory memorandum] (106 KB). More about the bill, including its bills digest, is available [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5127 here].
<p class="speaker">Penny Wong</p><p>To be clear about what has occurred, I want to make a few comments before we vote on this. The Labor opposition very responsibly moved an amendment which was originally accepted by this Senate to increase the debt limit by $100 billion to $400 billion—a debt limit that evidence from Treasury and Finance estimates made clear would ensure plenty of space for this government until the next budget update. We also said that we would be prepared to look at additional increases provided the government was prepared to open the books and provide an update to the Australian people via the parliament as to the true state of the budget since they have been elected.</p><p>The government refused that, and the government that was the party of no debt has now become the party of no debt limit. This was the party that opposed the Australian Greens, that lectured us and the Australian people about how radical the Greens were and said they were watermelons—green on the outside, red on the inside were Senator Abetz's words—and economic fringe dwellers. Now the coalition have done a deal with the economic fringe dwellers to ensure that there is no debt limit in this nation. We do not support that position. We do want to behave as a responsible opposition, and that is why we have taken the steps we took to ensure that there was an increase before the current limit was reached. I note that those opposite refused to accept that very reasonable proposition and are now saying: 'We know before the election we said that the answer to debt wasn't more debt. Well, we don't believe that anymore. That's not our government's position. We do believe the answer is more. We believe now that, in fact, Labor debt is bad and coalition debt is good.' For that reason we will be opposing this report.</p> <p class="speaker">John Hogg</p><p>The question is that the report of the committee be adopted.</p>
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