Page 525 - Week 02 - Thursday, 3 March 1994

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TREASURER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

QUESTION NO 1209

Casino Premium  - Regional Cultural-

Facilities Allocation

MR HUMPHRIES - asked the Treasurer in relation to the $2.75m identified by the Standing Committee on Planning, Development and Infrastructure for regional facilities from the Casino premium upon notice on 1 March 1993:

(1) Is money placed in a special bank account or trust fund, or does the amount form part of the consolidated revenue.

(2) Is this amount presently earning interest; if not, why not.

(3) Is it the Government's intention to add any interest earned on the $2.75m to that amount, for the benefit of those regional facilities identified by the Standing Committee; if not, why not.

Ms Follett - the answer to the Member's question is as follows:

(1) Funding of $2.75m for regional cultural facilities forms part of the Consolidated Fund. This amount was appropriated to the Culture and Heritage Program in 1993-94.

(2) These funds are earning interest to the extent that they form part of the cash balance of the Consolidated Fund. The benefit of this interest returns to the Government's budget as a whole.

(3) The decision taken in relation to the allocation of the casino premium was based. on the original amount received from the premium. There is no proposal to vary this amount.

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