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 year, or $40 million over the forward estimates period, that have arisen or changed since the 2007‑08 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 entries.
Contingent liabilities — quantifiable |
|
Defence and Defence Materiel Organisation |
|
Indemnities |
Modified |
Finance and Administration |
|
Potential claims relating to superannuation benefits Sale of Sydney Airports Corporation Limited Future Fund Board of Guardians — Indemnity |
Modified Modified New |
Foreign Affairs and Trade |
|
Export Finance and Insurance Corporation (EFIC) |
Modified |
Treasury |
|
Reserve Bank of Australia — Guarantee |
Modified |
Agriculture, Fisheries and Forestry |
|
Compensation claims arising from Equine Influenza (EI) Outbreak |
New |
Defence |
|
HMAS Melbourne and HMAS Voyager damages claims |
Modified |
Contingent liabilities — unquantifiable |
|
Finance and Administration |
|
ASC Pty Ltd (ASC) — Directors’ Indemnity Telstra 3 BPAY Biller Agreement — Indemnities Tuggeranong Office Park (TOP) Sinking Fund approved expenses |
New New New |
Transport and Regional Services |
|
Assumed residual liabilities of the Australian National Railways Commission Tripartite deeds relating to the sale of federal leased airports |
Modified Modified |
Risks appearing in this Statement but not listed in the table above are substantially unchanged since disclosed in Budget Paper No. 1, Budget Strategy and Outlook 2007‑08, Statement 11.