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Legislative Assembly for the ACT: 2003 Week 8 Hansard (21 August) . . Page.. 3120..


(4) Who decided to plant the pines and can supporting documentation for that decision be provided?

Mr Wood

: The answer to the member's question is as follows:

(1) 800 hectares in Pierces Creek and Uriarra were planted with pine trees this winter. The pine trees were ordered in September last year (2002) for planting this winter. The bushfires in January 2003 impacted greatly on the commercial pine plantation in Pierces Creek, Stromlo and Uriarra. If the pine trees had not been planted, ACT Forests would have had to still pay about $300,000 to the contracted nurseries for growing of the seedlings and cuttings.

(2) The future use of this land has not been decided. The land planted is highly prone to soil movement and erosion since the January bushfires. This area is also in the Cotter Dam catchment. If the Government decides not to continue with commercial pine plantations once the Non Urban Review has been completed, then this environmentally sensitive land can be managed for amenity, water quality, recreation and/or soil conservation.

(3) It is important to revegetate this land as soon as possible after the fires in January. As ACT Forests already had ordered one million seedlings and cuttings in 2002, it was appropriate that these seedlings and cutting be planted on this land.

(4) The decision to replant the pines was made by Cabinet in March 2003 and was based on a Cabinet Submission presented by me as minister responsible for ACT Forests.

Superannuation

(Question No 830)

Mr Smyth asked the Treasurer, upon notice:

In relation to the analysis of the performance of the Superannuation Provision Account (SPA) in the Management Report for the June Quarter 2003:

(1) On what assumption was the revised estimated outcome of the market value of SPA investments of a reduction of $58.793 million based;

(2) What were the reasons for the variance in the market value of SPA investments between the estimate of $58.793 million and the preliminary result of a reduction of $44.114 million;

(3) What is the estimate for the change in market value of SPA investments over the 12 months to 30 June 2004;

(4) On what assumptions was the revised estimated outcome of the revenue from dividends and interest, earned from SPA investments, of $48.692 million based;

(5) Why was this estimated outcome of revenue to be derived from dividends and interest, earned from SPA investments, increased by $16.278 million, or 50 per cent, over the estimate provided in the 2002-03 Budget;


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