Legislative Assembly for the ACT: 2007 Week 1 Hansard (20 February) . . Page.. 11..
Committee reports—schedule of government responses
Paper and statement by Speaker
MR SPEAKER: For the information of members, I present the following paper:
Committee reports—schedule of government responses.
This is a procedural innovation and I advise the Assembly that I will be tabling such reports each six months in order to provide the Assembly with information in relation to the progress of committee reports.
Mr Speaker presented the following papers:
Study trips—reports by Mrs Dunne MLA—
MR STANHOPE (Ginninderra—Chief Minister, Treasurer, Minister for Business and Economic Development, Minister for Indigenous Affairs and Minister for the Arts): For the information of members, I present the following paper:
Budget 2006-2007—Mid year review.
I seek leave to make a statement in relation to the paper.
MR STANHOPE: The Financial Management Act 1996 requires the Treasurer to prepare a budget mid-year review for each financial year. The review requires an update for the estimated financial position for the current year and updated budget estimates for each of the next three or four years. The general government sector estimated budget outcome for 2006-07 has improved in the mid-year review from a budgeted net operating deficit of $80.3 million to a revised net operating deficit of $42.5 million. This improvement was mainly due to strong commercial conveyance returns over the past six months, improved GST revenue grants, and increased interest revenue following recent interest rate increases.
Beyond 2006-07, the territory�s projected budget position remains broadly unchanged. This reflects the net impact of several major factors—upward revisions of interest revenue resulting from increases in investment balances and interest rate increases, continued strong conveyance returns, resulting in higher taxation revenue, and a