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Legislative Assembly for the ACT: 2013 Week 10 Hansard (13 August) . . Page.. 2857..


Ms Gallagher: Madam Speaker, on your ruling—

MADAM SPEAKER: It was more of an admonition than a ruling, Chief Minister.

Ms Gallagher: I do refer to the behaviour of the opposition through question time. Every single one of them was laughing at and mocking Mr Corbell when he was seeking to answer a question and they were not brought to order. It would assist if they were.

MADAM SPEAKER: Again, Chief Minister, if you listened carefully you would recall that on a number of occasions I have, by name, called Mr Hanson and Mr Coe to order in this question time.

Ms Gallagher: And they ignored you.

MADAM SPEAKER: Again, if you have a problem with the way I chair this place, do it in a substantive motion. Mr Corbell, have you finished answering the question?

MR CORBELL: Yes, I have.

MADAM SPEAKER: A supplementary question, Mr Hanson.

MR HANSON: Minister, how were ACT light rail patronage projections derived?

MR CORBELL: Patronage projections are derived using accepted methodology by expert consultants, and I am happy to provide further details to the member on notice.

Budget—surplus

MR SMYTH: My question is to the Treasurer. Treasurer, I refer you to the ACT budget review 2013-14 prepared by the Centre for International Economics. It states:

The 2013-14 Budget indicates that a surplus will be achieved in 2015-16. The Budget builds in additional revenue which will not be realised, or realised in that period, in order to return to surplus in the forward years. The additional revenue is associated with the adjustment to interest revenue on the Superannuation Provision Account to bring interest returns in line with long-run expected performance.

Elsewhere in the report it states:

The expectation is for superannuation investment earnings to deliver a long run targeted nominal rate of return on assets of 7.5 per cent. The target rate of return appears ambitious if the superannuation returns are managed in low risk assets.

Treasurer, what is the difference to the budget position between your stated rate of return and the returns based on real market projections?


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