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Legislative Assembly for the ACT: 2008 Week 8 Hansard (7 August) . . Page.. 3050..

MR STANHOPE (continuing):

Financial Management Act, pursuant to section 18A—Authorisation of Expenditure from the Treasurer's Advance to the ACT Planning and Land Authority, including a statement of reasons, dated 8 July 2008.

I seek leave to make a statement in relation to the paper.

Leave granted.

MR STANHOPE: Mr Speaker, as required by the Financial Management Act, I table a copy of the authorisation in relation to the Treasurer's advance to the ACT Planning and Land Authority. Section 18 of the act allows the Treasurer to authorise expenditure from the Treasurer's advance. Section 18A of the act requires that within three sitting days after the day the authorisation is given the Treasurer presents to the Legislative Assembly a copy of the authorisation and the statement of the reasons for giving it and a summary of the total expenditure authorised under section 18 for the financial year.

Under this instrument, $2.426 million is provided to the ACT Planning and Land Authority to make compensation payments to rural leaseholders affected by the residential development in the Molonglo Valley following the successful completion of an arbitration process. I commend these papers to the Assembly.

Public Accounts—Standing Committee

Report 13—government response

MR STANHOPE (Ginninderra—Chief Minister, Treasurer, Minister for Business and Economic Development, Minister for Indigenous Affairs, Minister for the Environment, Water and Climate Change, Minister for the Arts): For the information of members I present the following paper:

Public Accounts—Standing Committee—Report 13—Inquiry into Land Valuation in the Australian Capital Territory—Government response.

I ask leave to make a statement in relation to the paper.

Leave granted.

MR STANHOPE: I present the government's response to report No 13 of the Standing Committee on Public Accounts. On 7 December 2005, the Standing Committee on Public Accounts resolved on its own motion to conduct an inquiry into the ACT's land valuation system. The committee held public hearings and received submissions. It issued its report on 18 March and tabled it in the Assembly on 8 April. I welcome the committee's report, and I thank the committee and its support staff.

The committee's terms of reference were to inquire into and report on the valuation of land in the ACT to determine the clarity, efficiency, equity, accountability and transparency of the land valuation system. The committee initiated its inquiry as a result of a special report published by the New South Wales Ombudsman, entitled Improving the quality of land valuations issued by the Valuer-General. However, it is

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