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Legislative Assembly for the ACT: 2010 Week 01 Hansard (Thursday, 11 February 2010) . . Page.. 337 ..

We said we would take a sensible approach to the management of the territory’s finances and would not respond in a knee-jerk manner to the next bit of bad or good news that came along. We will continue to pursue our long-term plans to move the budget into surplus while continuing to support jobs and the economy along with meeting the needs of our community.

The government has a strong record in delivering capital works to the territory, as represented by the strength of infrastructure assets on our balance sheet. Our program is and will continue to be about building up the infrastructure that Canberrans need and require to support the ongoing delivery of high quality services to the community.

As part of the 2009-10 budget review process, the government listened to industry concerns regarding current capacity constraints within local industry and, as a result, all government agencies have reviewed and reassessed their capital works program in the light of the first six months of progress. The budget review provides details of that exercise. This has resulted in $105 million of capital works being re-profiled from 2009-10 into the outyears. This action should help local industry to better deal with the current high demands on them this financial year, particularly as a result of the commonwealth stimulus initiatives, and provide an opportunity to undertake planning of their capacity requirements to meet the challenges of our capital investment program into the future.

These are welcome signs that the economy and the budget are recovering more quickly than expected. There is, however, still no doubt at all that there remains a significant task ahead to move the budget back into surplus, and we remain committed to that task. I commend the 2009-10 budget review to the Assembly.

I move:

That the Assembly takes note of the paper.

Debate (on motion by Mr Smyth) adjourned to the next sitting.

Financial Management Act—consolidated financial report

Paper and statement by minister

MS GALLAGHER (Molonglo—Deputy Chief Minister, Treasurer, Minister for Health and Minister for Industrial Relations): For the information of members, I present the following paper:

Financial Management Act, pursuant to section 26—Consolidated Financial Report—Financial quarter ending 31 December 2009.

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

Leave granted.

MS GALLAGHER: This report is required under section 26 of the Financial Management Act. The December quarter net operating balance of the general

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