Treasury portfolio overview
There has been no significant change to the portfolio overview, portfolio responsibilities or agency outcomes from that included in the Portfolio Budget Statements 2012-13 (pages 3-5).
Additional estimates are being sought for the Department of the Treasury, the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Taxation Office. Explanations of additional estimates for these agencies are detailed in their respective section in the Portfolio Additional Estimates Statements.
There are no additional estimates for the Australian Bureau of Statistics, the Australian Competition and Consumer Commission, the Australian Office of Financial Management, the Commonwealth Grants Commission, the Corporations and Markets Advisory Committee, the Inspector-General of Taxation, the National Competition Council, the Office of the Auditing and Assurance Standards Board, the Office of the Australian Accounting Standards Board, the Productivity Commission or the Royal Australian Mint.
Figure 1: Treasury portfolio structure and outcomes
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Portfolio Minister — Deputy Prime Minister and Treasurer The Hon Wayne Swan MP Assistant Treasurer The Hon David Bradbury MP Minister for Financial Services and Superannuation The Hon Bill Shorten MP Minister for Housing The Hon Brendan O’Connor MP Parliamentary Secretary to the Treasurer The Hon Bernie Ripoll MP |
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Department of the Treasury Secretary: Dr Martin Parkinson Informed decisions on the development and implementation of policies to improve the wellbeing of the Australian people, including by achieving strong, sustainable economic growth, through the provision of advice to government and the efficient administration of federal financial relations |
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Australian Bureau of Statistics Statistician: Mr Brian Pink Informed decisions, research and discussion within governments and the community by leading the collection, analysis and provision of high quality, objective and relevant statistical information |
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Australian Competition and Consumer Commission Chairman: Mr Rod Sims Lawful competition, consumer protection, and regulated national infrastructure markets and services through regulation, including enforcement, education, price monitoring and determining the terms of access to infrastructure services |
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Australian Office of Financial Management Chief Executive Officer: Mr Rob Nicholl The advancement of macroeconomic growth and stability, and the effective operation of financial markets, through issuing debt, investing in financial assets and managing debt, investments and cash for the Australian Government |
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Australian Prudential Regulation Authority Chairman: Dr John Laker AO Enhanced public confidence in Australia’s financial institutions through a framework of prudential regulation which balances financial safety and efficiency, competition, contestability and competitive neutrality |
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Australian Securities and Investments Commission Chairman: Mr Greg Medcraft Improved confidence in Australia’s financial markets through promoting informed investors and financial consumers, facilitating fair and efficient markets and delivering efficient registry systems |
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Australian Taxation Office Commissioner: Mr Chris Jordan AO Confidence in the administration of aspects of Australia’s taxation and superannuation systems through helping people understand their rights and obligations, improving ease of compliance and access to benefits, and managing non-compliance with the law |
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Commonwealth Grants Commission Secretary: Mr John Spasojevic Informed Government decisions on fiscal equalisation between the States and Territories through advice and recommendations on the distribution of GST revenue and health care grants |
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Corporations and Markets Advisory Committee Convenor: Ms Joanne Rees Informed decisions by Government on issues relating to corporations regulation and financial products, services and markets through independent and expert advice |
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Inspector-General of Taxation Inspector-General: Mr Ali Noroozi Improved tax administration through community consultation, review and independent advice to Government |
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National Competition Council President: Mr David Crawford Competition in markets that are dependent on access to nationally significant monopoly infrastructure, through recommendations and decisions promoting the efficient operation of, use of and investment in infrastructure |
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Office of the Auditing and Assurance Standards Board Chairman: Ms Merran Kelsall The formulation and making of auditing and assurance standards that are used by auditors of Australian entity financial reports or for other auditing and assurance engagements |
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Office of the Australian Accounting Standards Board Chairman: Mr Kevin Stevenson The formulation and making of accounting standards that are used by Australian entities to prepare financial reports and enable users of these reports to make informed decisions |
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Productivity Commission Chairman: Mr Michael Woods (acting until March 2013) Well-informed policy decision-making and public understanding on matters relating to Australia’s productivity and living standards, based on independent and transparent analysis from a community-wide perspective |
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Royal Australian Mint Chief Executive Officer: Mr Ross MacDiarmid The coinage needs of the Australian economy, collectors and foreign countries are met through the manufacture and sale of circulating coins, collector coins and other minted like products |
Portfolio resources
Table 1 shows a summary of resources for those agencies that are seeking funding through Appropriation Bills (No. 3 and No. 4) 2012-13.
| Appropriation | Movements | Total | |||
|---|---|---|---|---|---|
| Bill No. 3 $'000 |
Bill No. 4 $'000 |
Special $'000 |
Receipts $'000 |
$'000 |
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| Department of the Treasury | |||||
| Administered appropriations | 14,928 | - | - | - | 14,928 |
| Departmental appropriations | 3,666 | - | - | - | 3,666 |
| Total: | 18,594 | - | - | - | 18,594 |
| Australian Prudential Regulation Authority |
|||||
| Administered appropriations | - | - | - | - | - |
| Departmental appropriations | 722 | - | - | - | 722 |
| Total: | 722 | - | - | - | 722 |
| Australian Securities and Investments Commission |
|||||
| Administered appropriations | - | - | - | - | - |
| Departmental appropriations | 9,003 | - | - | - | 9,003 |
| Total: | 9,003 | - | - | - | 9,003 |
| Australian Taxation Office | |||||
| Administered appropriations | 250 | - | - | - | 250 |
| Departmental appropriations | 18,995 | 1,674 | - | 20,669 | |
| Total: | 19,245 | 1,674 | - | - | 20,919 |