Legislative Assembly for the ACT: 2018 Week 13 Hansard (27 November) . . Page.. 4855 ..
than the year to date budget of $414.8 million. This improvement mainly reflects the higher than estimated revenue due to the timing of land settlements for Denman Prospect stage 2 and lower than estimated expenditure associated with the timing of project and grant expenditure.
I can advise members that net debt for the general government sector as at 30 September 2018 was $1,198.6 billion, which is $103.6 million lower than the June 2018 result of $1,302.2 million.
Net financial liabilities decreased, compared to 30 June 2018, by $2,792.7 million, largely reflecting the change in the defined benefit superannuation liability estimate for 30 September 2018, based on a discount rate of five per cent compared to 3.11 per cent as at 30 June 2018. Madam Speaker, I commend the September quarter headline net operating balance surplus of $491 million to the Assembly.
Financial Management Act—2018-19 capital works program—progress report
Paper and statement by minister
MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Social Inclusion and Equality, Minister for Tourism and Special Events and Minister for Trade, Industry and Investment) (3.28): For the information of members, I present the following paper:
Financial Management Act, pursuant to subsection 30F(3)—2018-19 Capital Works Program—Progress report—Year-to-date 30 September 2018.
I ask leave to make a statement in relation to the paper.
MR BARR: I present to the Assembly the September quarter 2018-19 capital works progress report. The 2018-19 budget committed to a capital works program with $773 million available for expenditure. The government has successfully delivered $146 million worth of capital investment: $125 million on infrastructure development and $21 million on information communications technology and plant and equipment. This included $135 million spent on works in progress and $11 million spent on new works.
The report being tabled today outlines projects that reached physical completion in the September quarter. For those in Tuggeranong, the Ashley Drive duplication, Ellerston Avenue to Johnson Drive, is operational while the contractor is rectifying any defects and landscaping areas. Ashley Drive duplication stage 2 is now operational while minor defects are being rectified. The Federal Highway and Old Well Station Road intersection upgrade is complete. The replacement of polyethylene aluminium composite panels at the Centenary Hospital for Women and Children, something that has been the subject of some debate in this place, was physically completed in the September quarter. I commend the full report to the Assembly.