Page 1565 - Week 06 - Thursday, 7 June 2007
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results of invested superannuation cash reserves”. Why does your 2007-08 budget still include the results on invested superannuation cash reserves, when you promised in 2001 not to include them?
MR STANHOPE: The government very much looks forward to listening to Mr Stefaniak this afternoon deliver the alternative budget—the Liberal Party’s alternative to the ACT government budget. What Labor promised in 2001 was that Labor will “ensure that budgets and financial reports clearly show, in some form, the operating performance of the territory”. It is interesting that the most significant of the words of the charter of financial integrity were omitted from the question.
We talk about integrity. It is interesting that the Leader of the Opposition says, as he just has, that Labor will “ensure that budgets and financial reports clearly show the operating performance of the territory net of the results of invested superannuation cash reserves”. What the charter of financial integrity says is that Labor will “ensure that budgets and financial reports clearly show, in some form, the operating performance of the territory net of the results of invested superannuation cash reserves”—“in some form”.
And what do the budget papers show on pages 8 and 15? The financial reports on page 15 of the budget papers show, in some form, the operating performance of the territory net of the results of invested superannuation cash reserves. There it is—page 15 of the budget, quoted on a number of occasions over the last two days by the shadow treasurer, Mr Mulcahy. Mr Mulcahy has been out there quoting, out of context, precisely what we promised in 2001 that we would do. There it is: “GFS net operating balance (UPF statements)”. It is shown in a clear line on page 15 of the budget.
We have met the promise, the commitment that we made in the charter of financial integrity. It is there for all to see. Not only is it there for all to see; it has been quoted on a number of occasions over the last two days by the shadow treasurer. What the shadow treasurer has been quoting in the last two days is the financial report showing the operating performance of the territory net of the results of invested superannuation cash reserves. That is precisely what he has been talking about. They are precisely the figures he has been quoting.
Mr Gentleman: They don’t talk to each other.
MR STANHOPE: It is not a question of their not talking to each other; it is that neither of them understands the basics. It is remarkable to me that Mr Stefaniak yesterday shared a platform with the shadow treasurer—not very comfortably, but nevertheless shared a platform with the shadow treasurer yesterday—during which the shadow treasurer referred to the ACT government’s financial reports, namely the budget, which clearly showed the operating performance of the territory net of the results of invested superannuation cash reserves.
Yet today, the Leader of the Opposition, who is about to deliver the alternative budget, did not know that that is what he was doing. He did not know that, repeatedly over the last two days, the shadow treasurer has been giving prominence to the ACT’s
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