Bill
Commonwealth Inscribed Stock Amendment (Restoring the Debt Ceiling) Bill 2018
lapsed, as at 2019-07-01.
- Sponsor
- Pauline Hanson
- Portfolio
- Not recorded
Recorded stages
- introduced — 2018-06-25
- second reading — 2018-06-25
- other — 2019-07-01
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2018-06-25.
This bill would cap government borrowing at 35% of Australia's gross domestic product.
The Australian Office of Financial Management would be blocked from issuing new stock if doing so would push total stock and securities above that limit.
The bill would start the day after it receives royal assent.
- It limits the amount the government can borrow to 35% of GDP.
- It prevents the Australian Office of Financial Management from issuing further stock that would exceed that threshold.
- It requires the provisions to commence the day after royal assent.
The Australian government and the Australian Office of Financial Management.
Sources
em
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