Page 1080 - Week 03 - Thursday, 26 February 2009

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correspondence—in effect, a short submission—the concerns of the government in relation to this particular design of the scheme.

At this stage, no, I have not received any detailed reassurance from the commonwealth government on this matter. It is a matter that I continue to raise with them.

MR SPEAKER: Ms, Hunter a supplementary question?

MS HUNTER: Given that Minister Wong has indicated that voluntary efforts to reduce emissions, such as in the ACT, could result in the commonwealth raising the national target, have you sought assurances that she will lift the national target of five per cent by 2020 should the ACT set a higher target?

MR CORBELL: No, I have not received any such assurances from the commonwealth. As I have said, the representations I have made have been at ministerial council level at this stage and also to the relevant Senate inquiry which is underway. I do envisage raising these issues further with my commonwealth counterparts.

It is important to stress that we are in a situation where our overall contribution to Australia’s emissions is small: just over one per cent of all emissions in the Australian context come from the ACT. Nevertheless, it is the principle that is important in this debate because it could have an equally significant effect on larger jurisdictions. It is a matter that I will continue to pursue with the commonwealth.

Global financial crisis

MS PORTER: My question, through you, Mr Speaker, is to the Chief Minister. Could the Chief Minister advise the Assembly of the impacts of the global financial crisis on the local economy?

MR STANHOPE: I thank Ms Porter for the question. Of course, I think there is no more important question facing this community and other communities around Australia and, indeed, the world than the impacts of the global financial crisis and the outlook for economies, large and small and, most particularly, the outlook for us. I think it is fair to say that while there are and always will be, and appropriately, differing views on the severity of the crisis, most thinking people are united in the belief or the understanding at least that we confront the greatest economic peril which we as a community and as a nation and the world have faced since the Great Depression. I say “most people” advisedly. The view and the attitude that we see from the Liberal Party in this place, mirroring as it does in block step with the federal Liberal Party, is a position of GFC denial.

We have amongst us in the Leader of the Opposition, Mr Seselja, and the shadow Treasurer, Mr Smyth, classic GFC sceptics. They are a party, a group, within this community that does not believe or accept the reality of the global financial crisis. We see that reflected in this last month in the absolute determination of the Liberal Party federally, with the support of the ACT Liberals, to oppose the $42 billion stimulus

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