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Legislative Assembly for the ACT: 2000 Week 5 Hansard (11 May) . . Page.. 1460 ..
MR HUMPHRIES (continuing):
Ted Quinlan, Shadow Treasurer for the ACT, has reviewed the impact of both Federal Tax packages.
That, I assume, is the ALP tax package and the tax package that was announced then by the federal government. The statement continues:
"Our measure is more accurate and considers a whole of Territory effect, particularly the imbalance between the benefits accruing to the private sector and the public purse."
"We have used similar modelling techniques to the ACT Office of Financial Management. While their techniques leave a lot to be desired, they are useful for comparative purposes."
"Using the Chief Minister's method, we have shown that the private sector will receive $108m from the ALP, while $128m will be received through the Coalition's package ...
"The ALP is committed to maintain State and Territory funding, while the Coalition has offered the GST revenue without any guarantee on how that will be distributed," stated Mr Quinlan.
Mr Quinlan asserts that the GST and income tax reductions would benefit the ACT by $128 million in net terms. Of course, we have also got the Timor levy coming off. That was $22 million. Just do a quick calculation: what is $128 million plus $22 million?
Ms Carnell: $150 million.
MR HUMPHRIES: That is right, $150 million. What an amazing coincidence, $150 million! Mr Speaker, I have a funny suspicion that my officers went to Mr Quinlan's press release and got their figure from Mr Quinlan's figures, that that is where they got the $150 million from.
Mr Smyth: Or he could be working for the government.
MR HUMPHRIES: He could be working for the government; I do not know. It is all murky, is it not, Mr Speaker? I have to acknowledge that since the release of those packages the Democrats have had a go at the federal package, so some of the figures that Mr Quinlan has used may have changed because of the effect of the Democrats' changes. I am sure that members will now concede that on those calculations-unless better ones come forward, and I am issuing an invitation here to Mr Quinlan on that-the benefit to the ACT is at least $150 million net, not gross, and is probably closer to $172 million, which is certainly good news from the federal budget.
MR HIRD: Mr Speaker, I have a supplementary question on the state of the territory's finances and the economy. I would like my supplementary question to go to the Chief Minister, if I may. Is the ACT ahead or behind other states and territories when it comes to the economics of jobs growth?
MR SPEAKER: Just a moment. Your supplementary question must go to the Treasurer.
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