Page 3192 - Week 08 - Wednesday, 22 August 2012
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In New South Wales the 1999 reforms, which the government’s bill emulates in large part, paved the way for the successful introduction of that state’s lifetime care scheme in 2006. Without similar reform to the existing CTP law in the ACT, there is no realistic prospect of a lifetime care scheme being affordable in this jurisdiction.
The government is also aware that some are advocating that we shift to a risk-rating approach for our CTP premiums. The government considers that this would have a significant and disproportionate impact on older and younger drivers. These drivers are often on lower incomes and could least afford increased premiums. It would make little sense to segment our small CTP pool more finely than it currently is, when the major issue is the fact that our pool is small compared to the risk profile. Changes such as risk rating would be more beneficial once a competitive market exists and, for that, we must shift the risk profile.
For the information of members, as outlined in our response to the PAC report, the government will be proposing some amendments to the CTP bill and it will be more relevant, of course, to speak about those issues at the time that we debate the legislation. I hope that members will support the government’s amendments and after reviewing the government’s response to the PAC report will likewise see fit to support the bill.
I commend the government’s response to the Assembly.
Mr Smyth: Perhaps the minister could move that the paper be noted.
MR BARR: Can’t you just respond in the bill?
Mr Smyth: There are just a few things I want to say now.
MR BARR: I am not going to, Mr Speaker.
Responsible investment policy
Paper and statement by minister
MR BARR (Molonglo—Deputy Chief Minister, Treasurer, Minister for Economic Development and Minister for Tourism, Sport and Recreation): For the information of members I present the following paper:
Responsible Investment Policy—ACT Government—Treasury Directorate, July 2012.
I ask leave to make a statement in relation to the paper.
Leave not granted.
Papers
Mr Corbell presented the following papers:
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