Part 2: Payments for Specific Purposes (Continued)
Contingent payments
Contingent payments arise where the Commonwealth has committed to provide compensation when an event occurs or otherwise guarantees the States' financial position. Payments to the States will only arise if the relevant event occurs.
Table 2.9 contains existing payments that will be paid as National Partnership payments if a contingency arises.
Table 2.9: Contingent payments to the States
A brief description of all contingent payments including state allocations is listed below.
Exceptional Circumstances assistance
The Commonwealth will provide $168.2 million in 2010‑11 for Exceptional Circumstances interest rate subsidies to the States for Exceptional Circumstances support to eligible farmers and small business operators in a region that is experiencing a severe downturn due to a rare and severe climatic or other event.
Table 2.9.1: Estimated payments to the States for Exceptional Circumstances
assistance(a)
- Exceptional Circumstances Assistance is related to the Agriculture, forestry and fishing GFS function.
Hepatitis C settlement fund
The Commonwealth will contribute up to $1.4 million in 2010‑11 to the States' schemes for out‑of‑court settlement costs for eligible individuals who contracted Hepatitis C through the blood supply service between 1985 and 1991.
Table 2.9.2: Estimated payments to the States for the Hepatitis C
settlement fund(a)
- Hepatitis C contingent payments are related to the Health GFS function.
Natural disaster relief
In 2010‑11, it is estimated that the Commonwealth will provide $576.9 million under the Natural Disaster Relief and Recovery Arrangements, to reimburse part of the States' expenditure on relief and recovery assistance following eligible natural disasters.
Table 2.9.3: Estimated payments to the States for Natural disaster relief(a)
- Natural disaster relief contingent payments are related to the Other Purposes GFS function.
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