Western Australian Current Acts Western Australian Current Acts (1) The Under
Treasurer is to release a Pre-election Financial Projections Statement within
10 days after the Legislative Assembly is dissolved or expires.
(2) A Pre-election
Financial Projections Statement is to include the following —
(a)
financial projections for the Government for the budget year and the 3
following financial years;
(b) an
account of the economic and other assumptions on which the financial
projections are based;
(c) an
explanation of the implications of the financial projections for meeting the
financial targets set out in the last Government Financial Strategy Statement;
(d) an
analysis of the degree to which the financial projections are likely to be
affected by changes in the circumstances on which the economic and other
assumptions are based;
(e) a
statement of any risks, quantified as far as practicable, that could
materially affect the financial projections, including particulars of any
contingent liabilities and any government negotiations that have not been
finalized;
(f) a
certificate by the Under Treasurer under subsection (7).
(3) When preparing a
Pre-election Financial Projections Statement, the Under Treasurer is to take
account of the following —
(a) the
implications of all relevant decisions that were taken by the Government
before the Legislative Assembly was dissolved or expired and that are known to
the Under Treasurer (excluding any interim decisions taken in the course of
planning the next budget to be brought down);
(b) any
other information available to the Under Treasurer at the end of 3 days after
the Legislative Assembly was dissolved or expired.
(4) Within 3 days
after the dissolution or expiry of the Legislative Assembly, the Treasurer is
to give the Under Treasurer all available information about government
decisions taken before the date of dissolution or expiry —
(a) that
has or could have material financial or economic implications relevant to
preparing the Pre-election Financial Projections Statement; and
(b) that
the Under Treasurer could not reasonably be expected to have already.
(5) The Pre-election
Financial Projections Statement does not have to include commercially
confidential information.
(6) If information
that is otherwise required to be included in a Pre-election Financial
Projections Statement is excluded because of subsection (5), the statement
must contain a general description of the excluded information.
(7) The Under
Treasurer is to certify to the effect that —
(a) the
financial projections, and the economic forecasts and assumptions, in the
Pre-election Financial Projections Statement were prepared by the Under
Treasurer;
(b) the
statement takes account of all relevant information available to the Under
Treasurer at the end of 3 days after the Legislative Assembly was dissolved or
expired;
(c) the
statement sets out the implications of all relevant decisions that were known
to the Under Treasurer at that time; and
(d) the
economic assumptions on which the financial projections in the statement are
based were finalized on the date set out in the certificate.
(8) If any information
to be included in a Pre-election Financial Projections Statement under
subsection (2) is the same as information included in the last Government
Financial Projections Statement or the last Government Mid-year Financial
Projections Statement (whichever was released later) then, instead of setting
out the information in full, the Pre-election Financial Projections Statement
may consist of a statement to the effect that the information in the previous
statement is still current.
[Section 17 amended: No. 77 of 2006 s. 17.]