Hi Jenny,<br>I was a bit freaked out that this appeared in a "what do they know" kind of sense, but a quick search of a couple of previous budget papers shows it has appeared as a potential liability in past budgets too.<br>
Thankfully, Mr Swan is continuing his prudent forward planning by subsidising small businesses' purchase of new cars (although some credit is due to changes in the vehicle FBT that removes the incentive to go for a drive down the coast come the end of financial year to try and get into the higher mileage bracket).<br>
Regards,<br>Michael Skeggs<br><br><div class="gmail_quote">On 11 May 2011 17:19, Jenny Goldie <span dir="ltr"><<a href="mailto:jenny.goldie@optusnet.com.au">jenny.goldie@optusnet.com.au</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin: 0pt 0pt 0pt 0.8ex; border-left: 1px solid rgb(204, 204, 204); padding-left: 1ex;">
<div bgcolor="#ffffff">
<div><font face="Arial" size="2">[from the Budget papers]</font></div>
<div><font face="Arial" size="2">
<h4>Liability for costs incurred in a national liquid fuel emergency</h4>
<p>The Australian Government has responsibility for the <i>Liquid Fuel
Emergency Act 1984</i> (the Act) which is administered by the Minister for
Resources and Energy. In addition, the State and Territory governments have
entered into an inter‑governmental agreement (IGA) which coordinates the use of
the powers under the Act in a national liquid fuel emergency. The IGA contains
three areas where the Australian Government may incur expenses <big><b>in the
unlikely event of a national liquid fuel emergency</b></big>. These relate to
the direct costs of managing a liquid fuel emergency and include the possibility
of the Australian Government reimbursing the State and Territory governments for
costs arising from their responses, and potential compensation for industry
arising from Australian Government directions under the Act.(end)</p>
<p>We can but hope that the Government's assumption that a national liquid fuel
emergency is unlikely, is correct...</p></font></div></div>
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