Page 851 - Week 03 - Tuesday, 24 February 2009
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Mr Hanson: Mr Speaker, on a point of order, on relevance: the Chief Minister simply did not answer the question. The question was: what assurances were given to the government from lending institutions, when were they received and who were these lenders? He has simply not answered the question.
MR STANHOPE: I am happy to go to that part of the question, but it was very important that there be some background because there is a very poor, a lack of, understanding of the issue which the government is seeking to deal with.
But in relation to the interests of banks and lending institutions, it has been strong. Indeed, a couple of the major banks—and I think we have got four left—asked in initial discussions whether or not we might deal with them exclusively, so attracted were they to the product or the possibility. (Time expired.)
MR SPEAKER: Mr Seselja, a supplementary question.
MR SESELJA: Thank you, Mr Speaker. Chief Minister, has the advice from lenders changed and, if so, when? If it did change, why has your government not informed Canberra families of the change in lending practices by banks and other financial institutions?
MR STANHOPE: Thank you, Mr Speaker. I am very happy to respond to that. The attitude of some of the lending institutions, the major banks, has changed and they have been quite explicit that their change of attitude is very much a response to the global financial crisis.
We began negotiations in relation to this. We launched the scheme on 1 July 2008. I think we all know that the world has changed significantly between 1 July 2008 and today. Indeed, I can recall the Liberal Party, as recently as, what, August 2008, a day after we launched the land rent scheme, promising to cut the ACT Public Service to the tune of $200 million. They promised actually to reduce revenue by $30 million a year.
I recall promises by the Liberal Party as recently as the last six months promising to slash ACT government expenditure by over $200 million and reduce our revenue by $30 million a year. I wonder whether, if they had their time over in the context of the circumstances of today, the Liberal Party would repeat its promise to slash $200 million from the ACT Public Service and reduce revenue by over $30 million a year. Of course they would.
Mr Hanson: I raise a point of order, Mr Speaker. The Chief Minister is not answering the question. He is making a point about election promises from last year of the Liberal Party that are not related to the land rent scheme. He needs to answer the question.
MR SPEAKER: Chief Minister, please come back to the specific question. I think you made enough of the context of the timing.
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