Details of fiscal risks and contingent liabilities
New or revised fiscal risks and contingent liabilities with a possible impact on the forward estimates greater than $20 million in any one year, or $40 million over the forward estimates period, that have arisen or changed since the 2006-07 Budget are described below and summarised in Table D1.
Information on contingent liabilities is also provided in the annual financial statements of departments, agencies and non-budget entities.
| FISCAL RISKS — REVENUE | |
| Finance and Administration | |
| Asset sales — Telstra | Deleted |
| CONTINGENT LIABILITIES — QUANTIFIABLE | |
| Defence | |
| Indemnities | Modified |
| Finance and Administration | |
| Australian Industry Development Corporation Sale of Sydney Airports Corporation Limited |
Modified Modified |
|
|
| Export Finance and Insurance Corporation | Modified |
|
|
| Maritime industry reform | Deleted |
| Treasury | |
| International financial institutions — uncalled capital subscriptions Reserve Bank of Australia — guarantee |
Modified Modified |
|
|
|
|
Native title costs Other indemnities |
Deleted Modified New |
|
|
|
Deleted |
HMAS Melbourne and HMAS Voyager damages claims |
Deleted Modified |
|
|
|
Deleted |
|
|
Telstra Corporation Limited — company, directors and senior executives' indemnities Telstra Corporation Limited — indemnity for unauthorised disclosure of information Tuggeranong Office Park Pty Ltd — shareholder indemnity |
Modified Modified New Modified |
| Health and Ageing | |
| Australian Red Cross Society — indemnities | New |
| Immigration and Multicultural Affairs | |
| Systems development — liability limit | New |
| Industry, Tourism and Resources | |
| Liability for damages caused by Kistler space activities | New |
| Treasury | |
| Terrorism insurance — commercial cover | Modified |
Note: Risks not appearing in this Statement are substantially unchanged since disclosed in Budget Paper No. 1, Budget Strategy and Outlook 2006-07, Statement 11.