Page 232 - Week 01 - Thursday, 15 February 1990
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finances in a planned rational way that is consistent with the community's needs. If we do not do this we will have financial adjustments forced upon us and that will have a disastrous effect on the ACT.
I will outline the undertakings given by the Chief Minister in his opening address to the Assembly on Wednesday 7 December 1989. It might pay people on the other side of the house to listen well and take note of what was said. We will introduce a positive approach to the management of ACT finances. We will emphasise the role our public employees play in achieving the ACT's financial objectives and we will improve awareness of cost-effectiveness across all areas of government.
Far from being disastrous, as claimed by the Opposition, these undertakings are the only responsible course for the ACT to follow. The Alliance Government will adopt a positive cost recovery policy but will grant exemptions where justified on social hardship or other compelling grounds. This Government will ensure that tax avoidance and evasion are minimised, if not eradicated. We will be working towards a tax system that is readily understood and which does not place a high compliance burden on industry, business or the ordinary citizen, for that matter. We will expand the revenue base of the Territory by encouraging development, including the stimulation of new high-tech industries, tourism and small businesses. We will promote all reasonable measures to stimulate private sector development with the aim of strengthening and broadening the economic base of the ACT. We have initiated and obtained the agreement of the Premier of New South Wales for a regional economic strategy for the ACT and surrounding regions. This will recognise the importance of regional links in Canberra's role as a regional centre. We will review the capital works program to ensure that all the projects included in it are consistent with community requirements and priorities.
This debate has been brought on prematurely by the Opposition. I think they are starting to rue the day they even thought of this. The Government has announced its attention to make a full budget strategy statement to the Assembly in March. This statement will be accompanied by a release of the forward estimates. This will include an overview of the economic situation facing the ACT over the forward estimates period. The forward estimates will provide information on trends for receipts and expenditures and the extent of the financial adjustments required in the forthcoming budget year.
In the meantime, let us all be in no doubt of the financial reality confronting the ACT. The former Government's own budget said it well. The problems have not evaporated since December. The Government will welcome an informed debate on this important issue in March and as I notice I have a little bit of time left, it might be worthwhile to put into the record some of the financial policies that
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