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Legislative Assembly for the ACT: 1997 Week 4 Hansard (7 May) . . Page.. 1059 ..

MRS CARNELL (continuing):

have $100m for asset sales or for capital injection. Everybody has seen forward estimates before. We looked at the ways in which our $100m could come back to the people of the ACT. Of course, that is the $100m that funds our capital program, which is some $94m this year, so it is spent directly on bricks and mortar, on extra capital assets for the ACT.

MR OSBORNE: On a point of order, Mr Speaker: I have just asked whether this budget contains borrowings. Mrs Carnell said no, the Government cannot dictate whether ACTEW has to borrow or not. I am happy with that answer and I do not need her to go on with the rest. I have a supplementary question, though, Mr Speaker. I think the answer was that the Government is not going to borrow any more money but ACTEW will.

Mrs Carnell: ACTEW may not.

MR OSBORNE: Okay, that is fine. Yesterday, Mrs Carnell, ACTEW management were adamant that at least part of these costs will be passed on to the consumer and they also refused to rule out job losses. Given this, do you still stand by your promise that none of the costs associated with this would be passed on to the ratepayer? As I remind you, you did say that this budget contained no new taxes or charges when, because of your decision to take the money from ACTEW, it does.

MRS CARNELL: I can absolutely guarantee that there will be no increases from ACTEW, and I will tell you why. I absolutely guarantee that there will be no increases as a result of the $100m capital refinancing.

Mr Osborne: No; $300m over two years.

MRS CARNELL: No; for this year and in the future as well, Mr Speaker. This capital restructuring in itself does not affect the price determination report that was put together as a result of Mr Osborne's - - -

Mr Osborne: Have you told ACTEW yet, Mrs Carnell? They said yesterday that it will be passed on.

MR SPEAKER: Order! This is not a dialogue.

MRS CARNELL: Mr Speaker, it certainly will not be passed on, and ACTEW are very well aware of that.

Mr Berry: Have you instructed them?

MRS CARNELL: I have not instructed them. The board of ACTEW were quite happy about this arrangement and, most importantly, so was the pricing commissioner. The pricing commissioner was put in place by Mr Osborne and this house. I think it is very important to quote from page 22 of the pricing commissioner's report, brought down last week. Those opposite would, of course, have read it before making the sorts

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