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 2010‑11 Budget are described below and summarised in Table C1.
Information on both contingent assets and contingent liabilities is also provided in the annual financial statements of departments, agencies and non-budget entities.
Table C1: Summary of material changes to the Statement of risks since the 2010‑11 Budget
| Contingent liabilities — quantifiable | |
|---|---|
| Defence and Defence Materiel Organisation | |
| Indemnities and remote contingencies | Modified |
| Education, Employment and Workplace Relations | |
| Comcare liability for additional workers' compensation payments | Modified |
| Finance and Deregulation | |
| Australian Industry Development Corporation | Deleted |
| Sale of Sydney Airports Corporation Limited | Modified |
| Foreign Affairs and Trade | |
| Export Finance and Insurance Corporation | Modified |
| Treasury | |
| Australian Taxation Office — tax disputes | New |
| International financial institutions — uncalled capital subscriptions | Modified |
| Reserve Bank of Australia — guarantee | Modified |
| Standby loan facility for the Government of Indonesia | Modified |
| Financial Claims Scheme | Deleted |
| Contingent liabilities — unquantifiable | |
| Agriculture, Fisheries and Forestry | |
| Exceptional Circumstances assistance for drought-affected farmers | Modified |
| Litigation | New |
| Broadband, Communications and the Digital Economy | |
| NBN Co Limited — board members indemnity | Modified |
| Health and Ageing | |
| CSL Ltd | Modified |
| Sustainability, Environment, Water, Population and Communities | |
| Murray-Darling Basin Reform — risk assignment | Modified |
| Treasury | |
| Car dealer financing — Australian Government guarantee of the OzCar Special Purpose Vehicle | Deleted |
| Financial Claims Scheme | Modified |
| Guarantee of state and territory borrowing | Modified |
| Guarantee Scheme for Large Deposits and Wholesale Funding | Modified |
| Housing Loans Insurance Corporation — guarantee | Deleted |
Risks appearing in Budget Paper No. 1, Budget Strategy and Outlook 2010‑11, Statement 8, but not listed in the table above are substantially unchanged.
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