Senators to put Treasury under spotlight

As Senate budget estimates enter their second week, Treasury head John Fraser and his team can be expected to be grilled over his department's forecasting.

John Fraser

Treasury boss John Fraser will be grilled by senators on Monday due to this month's federal budget. (AAP)

Treasury boss John Fraser will be grilled by senators for several hours on Monday as they pore over the detail of this month's federal budget, in particular the department's economic forecasting and revenue projections.

As the Senate budget estimates enter their second week, Mr Fraser and his Treasury officials' can expect to be quizzed on their ambitious predictions for wages growth and a surplus by mid-2021, the prospects for the economy overall and the likelihood of the bank levy generating the $6.2 billion projected.

The Senate economics committee will also put tax commissioner Chris Jordan and the Australian Taxation Office under the spotlight on Tuesday over the alleged $165 million tax fraud involving the son of ATO deputy commissioner Michael Cranston.

This committee will also hear from the government agencies of the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Competition and Consumer Commission.

In the House of Representatives, debate will continue on the government's school funding or the so-called "Gonski 2.0" legislation.

Representatives from the Department of Education will face senators on Wednesday and Thursday as they drill down into the legislation, which Labor insists is $22 billion less than what it had promised and will rip funding from Catholic schools.

The government is listed to have a crack at the second tranche of its controversial 10-year corporate tax plan in the lower house later in the week, the centrepiece of last year's budget.

It did manage to get legislation to reduce the tax rate for businesses with a turnover of up to $50 billion passed by the parliament earlier this year, but the government wants a reduction to 25 per cent for all companies by 2026.

The lower house will kick off the week with Tasmanian independent MP Andrew Wilkie introducing a private member's bill to allow the social security debts of people affected by domestic violence to be waived.

Nationals MP George Christensen will move a motion in support of a coal-fired power station for north Queensland.

There will also be more debate on Labor's bill to protect penalty rates, as the Department of Employment faces a Senate committee on Monday and Tuesday.

Other hearings over the week include Defence, foreign affairs and trade, health and aged care, social security and housing and homelessness.


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Source: AAP



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