Oceana National Budget Act (2011)

Oceana Bill

2 Oceana National Budget Act (2011)

Introduced By: On: Bill Type: Sponsors: Rep. James A. Livingstone (ORP), Minister of Finance 16/11/11 Budget Bill Prime Minister Anthony Lynam (ORP)

Summary/Abstract
The budget for the financial year 2011-2012. A headline spend of A50 Billion. Provision for tax raising, privatisation and costs of maintaining the state.

Article I Indirect Taxation

1. 2. 3. 4. VAT/sales tax 30% (exemptions childrens clothing, food, supplies for children) Alcohol excise duty Spirits 25% Wine 10% Beer 15% Tobacco excise duty 40% Fuel duty 30%

Article II Corporate Tax

1. Top rate 12% (companies with incomes in excess of A1Million) 2. Low rate 10% (companies with incomes lower than A1Million) 3. Tax breaks will be available to all foreign companies entering Oceana to run infrastructure to the value of 2%.

Article III Personal Taxation

A13,650 0% (Tax free allowance) A13650 A35,000 10% A35,001 A75,000 15% A75,001 A150,000 20% A150,001 and above 23% National Insurance 5%

Article IV Minimum Wage

52 weeks 37.5 hours a week Hourly rate A7 Salary A13650

Article V Council Funding

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Oceana National Budget Act (2011) 1. Council tax to be linked to income and is set by local councils. Variation between bands must be between 10-20%. Councils are free to set personal allowance and exemptions as they see fit. A0 A13650 Band A A13651 A30,000 Band B A30,001 A45,000 Band C A45,001 A60,000 Band D A60,001 A75,000 Band E A75,001 A90,000 Band F A90,001 A150,000 Band G A150,001 and above Band H

Article VI Health Funding

1. 15% (A7.5 Billion) 2. Single payer system details to be brought forward in Healthcare Bill Medical service insurance 80% Public health services 10% Emergency services 10%

Article VII Social Security

1. 10% (A5 Billion) 2. Welfare and Pension Bill to contain details. Family and children 60% Unemployment 20% Housing 15% Incapacity 5%

Article VIII Pensions

1. 10% (A5 Billion) 2. Details to be brought forward in the Welfare and Pension Bill Old age 100%

Article IX Education
1. 15% (A7.5 Billion) 2. Details to be brought forward in the Education Bill. Pre-primary and primary education 5% Secondary education 25% Post-secondary non-tertiary education 15% Tertiary education 55%

Article X Arts Funding

1. 0.5% (A250 Million)

Article XI Defence
1. 15% (A7.5 Billion) 2. Maintain current defence spending levels to ensure continuity. 3. Capital provision for modernisation Military defence 75% Oceana Bill 2 2

Oceana National Budget Act (2011) Civil defence 15% R & D defence 10%

Article XII Infrastructure

1. 5% (A5 Billion) Roads 55% Rails 25% Electricity 15% Water 5%

Article XIII Protection

1. 3% (A1.5 Billion) Police services 35% Fire-protection services 10% Law courts 25% Prisons - 30%

Article XIV Central Government

1. 2% (A1 Billion) Executive and legislative organs 75% General services - 25%

Article XV Other Spending

1. 10% (A5 Billion) 2. Not-for profit company to oversee the sale of Government utilities to foreign businesses Funding A150Million to facilitate sales 3. Regulators to be set-up to ensure fair and balanced competition and adequate provision of services 4. Mineral extraction coal, oil, gas, precious metals. 5. Privatisation of the following utilities: Energy, water, garbage disposal, telephone communications, internet infrastructure; Public transport (trams, buses, trains, subway) with the government to retain operational responsibility for infrastructure (roads and rails); Councils may bid to set up companies to run transport locally; and Airlines and airports

Article XVI Capital Investment

1. 5% (A2.5 Billion) a) A200Million for upgrade of Internet infrastructure b) A150Million for upgrade in energy and water delivery infrastructure c) A250Million for upgrade of port facilities d) A250Million for upgrade of airport facilities e) A450Million for the upgrade of highway infrastructure f) A450Million for upgrade of housing, hospitals and national services g) A75Million for upgrade of Governmental buildings to ensure they are fit for purpose h) A120Million for the construction of a new Parliament building in the Capital i) A350Million for defence modernisation

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Oceana National Budget Act (2011) Signed: James A. Livingstone Minister for Finance

Oceana Bill 2