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Legislative Assembly for the ACT: 1997 Week 7 Hansard (24 June) . . Page.. 2003 ..

Mr Moore: He was not Chief Minister.

MR OSBORNE: Mr Moore interjects that you were not Chief Minister. You were not even here then, Mr Whitecross. Let us be honest. When this Territory inherited self-government what was our superannuation liability, Mr Whitecross? Mrs Carnell says zero.

Ms McRae: And how much did Labor pay? How much did Labor contribute?

Mrs Carnell: Bugger all.

MR OSBORNE: How much did you pay? You did not pay enough, Ms McRae.

Ms McRae: There you go. Bugger all is better than none.

MR OSBORNE: To pay only the emerging costs each year is not the answer. I have raised this issue of superannuation in respect of every budget. It is a problem.

Mr Berry: You still vote for the budget, though.

Mr Whitecross: You still vote for them.

MR OSBORNE: I vote for them because I have a choice between this Government and you people over there. Let us get onto scaremongering. By the year 2026, which is 30 years away, the emerging costs will be $125m. That is in today's financial terms. What is our total budget, Mr Whitecross? Do you want to answer that?

Mrs Carnell: It is $1.3 billion.

MR OSBORNE: It is $1.3 billion. If we were to continue along the path that you have taken, and even the path that this Government has taken, 10 per cent of our budget would be spent on superannuation. That is a disgrace. It is an absolute disgrace.

Mr Whitecross: It is not the path we took. It is the path this Government has taken.

MR OSBORNE: I keep harking back, Mr Whitecross, to when this Territory inherited self-government and there was absolutely no liability for superannuation. There is now $645m. By the year 2015 it will be $2 billion.

Mr Berry: That is because you voted for a Liberal government.

MR OSBORNE: What a load of garbage, Mr Berry! You were here. You were the Government that created this problem. Mr Whitecross went through these graphs that were provided by the Territory. It is quite obvious that the current way it is being handled, CSS or PSS, is not the answer.

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