How the government will be able to pay its bills for GSPs

TNEA’s chief executive officer said the Government would be able “to pay its bill for GSEs that have not been fully implemented” under a plan being discussed by the government.

“That would be the case, I am confident, and that would be within the authority of the GSA and the GFA,” Dr Stuart Dickson said.

“The government has already said it is looking at all of this, but what I can tell you is it has not yet made a decision.”

Dr Dickson was speaking at a press conference today in Melbourne where he was joined by a range of government officials including Treasurer Scott Morrison, Attorney-General George Brandis, the Attorney-Elect and Minister for the Environment, Greg Hunt.

Dr Dison said the government would not be able in the near future to “spend any of the money we have on GSE funding” because of the need to balance the budget.

“It is going to have to be an expenditure that the Government is able to spend in the short term, but we will be looking at what is the best way to balance this budget and to do that, we need to have an investment in the future, and it is not going to be something that can be funded with an investment of any sort,” Dr Dinson said.

Mr Morrison said the GCA was working hard to ensure the Government’s promised funding to GSP companies would be paid in full.

“We are working with the GSE industry to ensure they are paid for,” he said.

Minister for National Security Scott Morrison says the Government has “worked hard to make sure GSE companies are paid” in full, but he says there are challenges in getting GSE investment funded.

“As we have said in the past, there are no easy answers to the debt crisis, and the Government remains committed to ensuring that GSE investments are funded in a way that provides certainty for taxpayers and will provide the long-term certainty that they deserve,” Mr Morrison told reporters.

“There are no quick fixes or quick fixes, and we will continue to work closely with the industry to address this crisis and provide certainty for the future.”

Mr Hunt said the Coalition had made a commitment to guarantee GSE investors the money they were owed and the time they were entitled to.

“I believe the Government will work with the Government and the industry, both on a long- term basis, to address the challenges that the GMA has identified,” he told ABC News Breakfast.

“What we will do is ensure that GSAs and GFA are paid what they are due for and the money is paid in the right manner.”

Mr Morrison added the Government was still reviewing the Government GFA program and “we will continue our discussions with the regulator about what the GGA needs to do to provide that funding”.

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