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Legislative Assembly for the ACT: 2000 Week 8 Hansard (30 August) . . Page.. 2656 ..
MR HUMPHRIES (continuing):
Treasurer has authorised expenditure under section 18, a copy of the authorisation and a statement of reasons relating to the expenditure is to be laid before the Legislative Assembly as soon as practicable after the end of the financial year.
The 1999-2000 Appropriation Act provided $18.1 million for the Treasurer's Advance. The final expenditure against the Treasurer's Advance in the 1999-2000 financial year totalled $6.873 million, leaving $11.227 million unallocated. I commend these papers to the Assembly.
MR HUMPHRIES (Treasurer, Attorney-General and Minister for Justice and Community Safety): For the information of members, I present the following papers:
Financial Management Act, pursuant to subsection 47 (2)-Approvals of guarantees (2) under an agreement between the Australian Capital Territory and the CPS Credit Union Co-operative (ACT) Limited for a loan under the Small Business Loan Guarantee Scheme and a loan under the New Enterprise Loan Guarantee Scheme.
I ask for leave to make a statement.
Leave granted.
MR HUMPHRIES: The underlying principle of this scheme is to provide small businesses with financing for capital investments in the expectation that they will succeed in establishing and developing their businesses and increasing their potential for future business growth. It is intended that the scheme will give eligible applicants access to loans to a maximum of $10,000 over a period of up to four years from an approved financial institution. The CPS Credit Union has agreed to support the principles of the scheme by providing concession rates to eligible applicants and has been selected as the loan provider.
The attached FMA instrument has been approved by the chief executive, Department of Treasury and Infrastructure, as delegate, pursuant to the small business loans scheme. One loan guarantee is for Mr Michael John Gill, the owner of Cre-8-IVE, an ACT company that will offer a one stop service for sandblasting or beadblasting, powdercoating and metal polishing for all vehicles and street machines, metal work preparation for gates, grilles, fencing and household goods et cetera, and fiddly work not considered by other business. That sounds like an ad; I should be on the radio, Mr Speaker.
The other loan guarantee is for Ms Joanne Wheelahan, the owner of the Naturopathic Dispensary, an ACT company that will offer a dispensary of herbal remedies in various forms to the general public. The service and products will include consultation, over the counter consultation, homeopathics, herbal mixes, herbal tablets, dried herbs, ointments, vitamin and mineral tablets. Some of the opposition might need to avail themselves of some of remedies, I feel, in the future.
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