What is the difference, if any, to the nearest million, between the forecast cash receipts from ETS auctions and the actual cash receipts from ETS auctions for financial year 24/25?

Answer

Actual cash receipts in the 2024/25 financial year were $529 million lower than what was forecast in the Budget Economic and Fiscal Update 2024. As the Crown recognises a corresponding liability when ETS units are sold, these lower cash receipts relative to the Budget Economic and Fiscal Update 2024 forecast resulted in a lower liability being recognised and therefore this had no impact on the Crown’s balance sheet.