Senate

Revised Explanatory Memorandum

(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)

General outline and financial impact

Amendments to the functions and operation of the Parliamentary Budget Office

The Parliamentary Budget Officer (the Officer) will have an additional function: to prepare a report on designated Parliamentary parties' election commitments by 30 days after a government forms following a general election. In support of this function and the Officer's caretaker costings function, there will be a specific framework for the provision of information to the Officer. The Australian Taxation Office (ATO) will also be able to provide de-identified taxpayer information to the Officer on a confidential basis, to assist the Officer in performing or exercising all the Officer's functions or powers. At the request of the Presiding Officers, the Officer, or an Senior Executive Service (SES) employee of the Parliamentary Budget Office (PBO), will no longer be required to be a member of the Security Management Board.

Date of effect: The measures in this Bill take effect on the day after the Bill receives the Royal Assent.

Proposal announced: The Deputy Prime Minister and Treasurer announced key details of this proposal on 22 February 2013.

Financial impact: This Bill has no significant financial impact on Commonwealth expenditure or revenue.

Human rights implications: This Bill does not raise any human rights issues. See Statement of Compatibility with Human Rights - Chapter 3.

Compliance cost impact: Nil.

Summary of regulation impact statement

The Office of Best Practice Regulation considers that the proposed changes do not have a regulatory impact on business or the not-for-profit sector. Accordingly, no further analysis (in the form of a Regulation Impact Statement) is required.