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Legislative Assembly for the ACT: 1997 Week 5 Hansard (13 May) . . Page.. 1268 ..

MRS CARNELL (continuing):

our total budget. We will end up with unfunded superannuation liabilities of $2 billion a year. Mr Berry has suggested that that is not a problem. Maybe his mates in the union movement told him that, but I cannot believe that they would think that either. I cannot believe that anybody could believe that $2 billion in unfunded superannuation is not a problem. If we do not address unfunded superannuation, we are going to end up with a problem. This Government will do it, but Mr Berry has made it clear that he does not think it is a problem and we should just put it aside because it is simply not something that governments or people in this place need to address. Mr Speaker, we do need to address it.

Mr Whitecross: What are you doing about it?

MRS CARNELL: I am very happy you asked. We are going down the path of looking at all the options. We have done a lot of that work already. I believe that this is something that any government in this place - - -

Mr Kaine: It is like keeping a watching brief on infant industries.

MRS CARNELL: It is like watching briefs and strategic plans. I believe very strongly that the approach that - - -

Mr Moore: What are you going to do about it? You did not answer the question.

MRS CARNELL: I am very happy to tell you about it, but I have only one minute left. A number of issues that need to be addressed were addressed in my budget and have been addressed over the last two years. There are more jobs in our system than there were when we came to government. There are 5,600 more jobs than there were when we brought down our last budget. There are 2,600 fewer people in our unemployment queues. Unfortunately for Mr Corbell, he got all his figures wrong. The amount of money we have in the business incentive scheme this year is $700,000. The number of jobs that will be created over the next three years - a lot have been created already - is 700. Last time I worked that out, that was $1,000 a job. The $37m of investment is not our investment. That is what the private sector, the people who have business incentive schemes, are plugging into this city. I think that is a pretty fair return on an investment in cash of $700,000.

I think that this budget needs to be commended by all sides of the Assembly. I do not expect everyone to agree with all parts of it, but jobs have to be the bottom line. We have to try to live within our means. We have to keep our expenditure down as far as we can. At the same time, we need to keep the economy going. That is the line this budget has taken. I believe we have done it successfully.

MR WHITECROSS (Leader of the Opposition): Mr Speaker, Mrs Carnell seemed to be pressed for time. I am willing to agree to grant her leave for an extension of time to enable her to explain what she is doing about superannuation, if she would like to.

MR SPEAKER: She did not ask for an extension of time.

MR WHITECROSS: She does not want to explain it. Okay.

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