Page 338 - Week 01 - Thursday, 11 February 2010
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government sector was a surplus of $17.2 million, which is a $19.8 million improvement from the year-to-date budgeted deficit of $2.7 million.
The improvement in year-to-date performance of the territory can be largely attributed to stronger revenue performance, including: residential conveyancing duty, reflecting relatively strong activity to date due to the federal government’s first homeowner boost and the low interest rate environment; strong commercial conveyance due to several large transactions; and an increase in payroll tax flowing from the increase in registrations and a higher level of activity in 2008-09 as employment levels held, and increased compliance activities.
Over the past three months we have also had strong returns on our equity investments due to a recovery in both debt and equity markets. On an AAS basis, the GGS recorded a surplus of $251.7 million, which is $192.4 million higher than the year-to-date budget, largely resulting from improved investment performance and greater returns. The territory continues to maintain a strong balance sheet, as reflected in a number of key indicators such as net worth, net financial liabilities and net debt.
These improvements in activity and returns over the past six months have been reflected in our revised budget estimates as presented in the 2009-10 budget review also tabled today. This report separately addresses and updates the territory’s economic and financial forecast and I commend the December quarterly report to the Assembly.
Supplementary answer to question without notice
Home insulation program
MR CORBELL: Mr Speaker, with your indulgence, I have a follow-up from question time. I have received some advice that my office has received a representation from another member’s office in relation to a complaint against a company known as Galaxy Insulations. It is a complaint from a constituent to that MLA’s office expressing disappointment with the level of service provided.
Just for completeness in my answer in relation to complaints that have been received, I would like to add that this one has been drawn to my attention, that a complaint about service from a company called Galaxy Insulations has been received in my office from a member’s office in this place, and that is currently being investigated.
Planning and Environment—Standing Committee
Report 24—government response
MR BARR (Molonglo—Minister for Education and Training, Minister for Planning, Minister for Tourism, Sport and Recreation and Minister for Gaming and Racing) (3.21): For the information of members, I present the following paper:
Planning and Environment—Standing Committee—Report 24—Review of Draft Management Plan for Urban Open Space and Public Access Sportsgrounds in the Gungahlin Region—Government response.
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