PUBLIC RELEASE OF 2016 ELECTION COMMITMENT COSTING Name of proposal costed: Reduction in the Wage Subsidy Pool COA 052 Costing Identifier: The commitment is to achieve savings of Summary of costing: $254.4 million over the forward estimates by capping the amount of funding in the wage subsidy pool for wage subsidies other than PaTH (Prepare Trial Hire, – – announced as part of the Youth Employment Package in the 2016-17 Budget). Prime Minister Person making the request: 29/06/2016 Date costing request received: 28/06/2016 Date of public release of policy: 30/06/2016 Date costing completed: Not applicable. Additional information requested (including date): Not applicable. Additional information received (including date): Financial implications (outturn prices)(a) Impact on 2016-17 2017-18 2018-19 2019-20 57.2 66.5 65.6 65.1 Underlying Cash Balance ($m) 57.2 66.5 65.6 65.1 Fiscal Balance ($m) A positive number for the fiscal balance indicates an increase in revenue or a decrease in expenses or net capital investment in accrual terms. A positive number for the underlying cash balance indicates an increase in revenue or a decrease in expenses or net capital investment in cash terms. Where relevant, state that the proposal has been costed as a defined or specified amount. The proposal has been costed at a specified saving amount of $254.4 million over the Forward Estimates. Where relevant, include separate identification of revenue and expense components. Not applicable. appropriate, include a range for the costing or sensitivity analysis. Not applicable. Qualifications to the costing (including reasons for the costing not being comprehensive). Not applicable. Where relevant, explain effects of departmental expenses.
PUBLIC RELEASE OF 2016 ELECTION COMMITMENT COSTING Name of proposal costed: Reduction in the Wage Subsidy Pool Costing Identifier: COA 052 Summary of costing: The commitment is to achieve savings of $254.4 million over the forward estimates by capping the amount of funding in the wage subsidy pool for wage subsidies other than PaTH (Prepare – Trial – Hire, announced as part of the Youth Employment Package in the 2016-17 Budget). Person making the request: Prime Minister Date costing request received: 29/06/2016 Date of public release of policy: 28/06/2016 Date costing completed: 30/06/2016 Additional information requested (including date): Not applicable. Additional information received (including date): Not applicable. Financial implications (outturn prices)(a) Impact on 2016-17 2017-18 2018-19 2019-20 Underlying Cash Balance ($m) 57.2 66.5 65.6 65.1 Fiscal Balance ($m) 57.2 66.5 65.6 65.1 A positive number for the fiscal balance indicates an increase in revenue or a decrease in expenses or net capital investment in accrual terms. A positive number for the underlying cash balance indicates an increase in revenue or a decrease in expenses or net capital investment in cash terms. Where relevant, state that the proposal has been costed as a defined or specified amount. The proposal has been costed at a specified saving amount of $254.4 million over the Forward Estimates. Where relevant, include separate identification of revenue and expense components. Not applicable. appropriate, include a range for the costing or sensitivity analysis. Not applicable. Qualifications to the costing (including reasons for the costing not being comprehensive). Not applicable. Where relevant, explain effects of departmental expenses.
coa_052_-_costing_-_reduction_in_the_wage_subsidy_pool.docx