“In response to public concerns relating to the effectiveness of administration agencies, the government is proposing significant investment to implement the recommendations from the banking royal commission, as well as to fund a range of government agencies and the disability royal commission," the trio wrote.

In terms of the disability royal commission, Ms Mucha, Ms Tsui and Mr Anderson explained that, subject to the finalisation of the Terms of Reference and consideration by the Governor-General, “the government will provide $527.9 million over five years from 2018-19 (including $16.2 million in capital funding over two years from 2018-19) to support the work of the Royal Commission into Violence, Abuse, Neglect and Exploitation of People with Disability (the disability royal commission)”.

“This funding includes $379.1 million over five years for the Attorney-General’s department to run the disability royal commission, to provide legal assistance to witnesses and to represent the Commonwealth in the disability royal commission proceedings,” KWM lawyers clarified. 

“The government will also provide $148.8 million over three years to the Department of Social Services, the National Disability Insurance Agency and the National Disability Insurance Scheme Quality and Safeguards Commission to provide counselling services and other support to people with disability in connection with their participation in the disability royal commission."

Furthermore, Ms Mucha, Ms Tsui and Mr Anderson said the government will provide $606.7 million over five years from 2018-19 to facilitate it's response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

“The package comprises a suite of measures that fulfil the government’s commitment to take action on all 76 of the recommendations of the banking royal commissioner’s final report,” the three stated.

This includes, they noted, “designing and implementing an industry-funded compensation scheme of last resort for consumers and small business; providing the Australian Financial Complaints Authority with additional funding to help establish a historical redress scheme to consider eligible financial complaints dating back to 1 January 2008; and paying compensation owed to consumers and small businesses from legacy unpaid external dispute resolution determinations”.

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In addition, the measures include the “resourcing the Australian Securities and Investments Commission (ASIC) to implement its new enforcement strategy, and expand its capabilities and roles in accordance with the recommendations of the banking royal commission; resourcing the Australian Prudential Regulation Authority (APRA) to strengthen its supervisory and enforcement activities...; [and] establishing an independent financial regulator oversight authority, to assess and report on the effectiveness of ASIC and APRA in discharging their functions and meeting their statutory objectives.

In terms of additional funding, Ms Mucha, Ms Tsui and Mr Anderson explained that the government will provide $4 billion over three years from 2019-20 to Australia’s Public Broadcasters, including $3.2 billion to the Australian Broadcasting Corporation (ABC) and $851.8 million to the Special Broadcasting Service Corporation (SBS).

“This base operational funding for the ABC and the SBS is determined on a three-year rolling basis for the operation of television, radio and online services," they noted. 

"The government has committed to providing additional funding to a range of new and established governmental agencies. Some of these will include: the National Library; Tasmanian Tourism; the Australian Music Industry; the ATO in respect of a new data centre; funding for federal cyber security; and Australian Transaction Reports and Analysis Centre to expand the Fintel Alliance.”