Government Interest Costs

1325 The Hon. S.C. MULLIGHAN (Lee) (11 September 2019). In the non-financial public sector, how much did interest costs increase across the forward estimates as a result of higher debt levels?

The Hon. S.S. MARSHALL (Dunstan—Premier): I have been advised:

Since the 2018-19 MYBR there has been an increase in net debt in the non-financial public sector in 2019-20 entirely due to the introduction of Australian Accounting Standard (AASB 16) 16 leases. Abstracting from that there is no increase in interest costs due to higher debt in 2019-20. Across the forward estimates, there is a forecast increase in net interest costs due to estimated higher net debt levels, aside from the AASB 16 impact, of $24 million in 2020-21, $37 million in 2021-22 and $56 million in 2022-23.

Interest revenue and expenditure estimates are based on interest rate assumptions as at the 2019-20 budget.