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Legislative Assembly for the ACT: 1998 Week 10 Hansard (26 November) . . Page.. 3135 ..

MR OSBORNE (continuing):

The one issue that has concerned me more than anything in my time in the Assembly has been the issue of the unfunded superannuation liability. I recall that, when it first came to my attention two or three years ago, I was a little intrigued by the amount. As time went on, I became quite alarmed by the size of the liability that we had. So, in relation to this whole debate about ACTEW, the one issue that is fundamental to me, the one issue that is more black and white than anything else, is the issue of fixing the superannuation liability.

I do not accept that it is not a problem. I do not expect that it is something that we can take care of down the track. On the evidence that has been tabled, especially in the last couple of months, it would appear that the only way to fix the problem is to sell ACTEW. Mr Speaker, I need to make it very clear that, unless there is an alternative brought up by this committee, I will have no alternative but to back the sale of ACTEW. It is not necessarily something that I want to do, Mr Speaker; but in reality it is, in my view, the only alternative. This committee is to focus on the most important issue for me, for Mr Rugendyke and for other members - the unfunded superannuation liability.

My amendments seek to delete paragraphs (1)(e) and (f) of Mr Stanhope's motion. It was very interesting to see Mr Stanhope put this up when he knew quite clearly that he was not going to get it. I accept the reasons for it, and I will leave it at that. The second amendment is in relation to the notification of the members of the committee. That will be done quite quickly at the end of the motion.

The third amendment is in relation to paragraph (3) of Mr Stanhope's motion. There are a number of issues in this whole ACTEW situation which need to be addressed, regardless of whether or not we sell it. There is the issue of the regulatory framework and there are many other things, Mr Speaker. I have to say, though, that I agree with the arguments put up by the Government and by the Treasury that, if we are going to sell ACTEW, we need to do it quickly, before the New South Wales election. So, Mr Speaker, I am more than happy to allow the Government to continue on its path in relation to the framework and the other peripheral things in relation to ACTEW which need to be done regardless and to bring us to the point, on the first sitting day in February, where we will have this report and then we will vote on the sale of ACTEW two days later.

I do not want to see two months wasted, if it is going to slow down the sale. I am hopeful that Mr Quinlan can come up with a credible alternative. I imagine that members of the Government are hopeful that he can come up with something. I am sure that Mr Kaine and Mr Rugendyke, who are undecided on this, hope that Mr Quinlan can come up with something. That was the motivation for putting this committee together. Mr Kaine says no, does he?

In numerous conversations that I had with Mr Quinlan, one of the complaints he expressed in relation to this whole issue was that he was finding it hard to match the resources of the Government to the data they were putting out. I am more than happy to assist him to come up with something. I have to say, Mr Speaker, that I doubt that he can do it. I just do not think he can come up with a credible alternative. So the ball is well and truly in his court. If he does not come up with something, I will have no option. All that we can do is vote for the sale of ACTEW. I would have no problem in doing that.

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