Treasury
Australian Reinsurance Pool Corporation - establishment cost
| 2003-04 | 2004-05 | 2005-06 | 2006-07 | |
| Department of the Treasury | - | - | - | - |
The Government has announced a scheme for the provision of temporary terrorism risk reinsurance cover until market coverage resumes. The scheme will commence on 1 July 2003 and will be managed by a statutory authority to be established for that purpose, the Australian Reinsurance Pool Corporation. The cost of the authority will be met by the scheme once it has commenced operation.
The Government will provide up to $5 million to the Department of the Treasury in 2003-04 to meet establishment costs. The authority will repay this amount in full in the same financial year and so the injection will have no overall impact on the budget.
Royal Australian Mint - additional funding
| 2003-04 | 2004-05 | 2005-06 | 2006-07 | |
| Department of the Treasury | 2.1 | 2.2 | 2.7 | 2.5 |
The Government will provide additional funding of $13.5 million over four years to Department of the Treasury for the Royal Australian Mint. Of this amount, $9.5 million over four years will allow the Mint to undertake a staged capital replacement programme of its antiquated coin producing equipment.
The remaining $4 million in 2003-04 is a one-off equity injection to meet periodic fluctuations in the Mint's working capital requirements. It is expected that the working capital will be replenished when revenue becomes available and therefore the equity injection will have no impact on the underlying cash or fiscal balance.