Page 3938 - Week 13 - Thursday, 17 October 1991
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is a pity for all of us that he has missed the opportunity this time. I think that the state of the house throughout his remarks made it quite clear that people on his own side were as unimpressed with what he had to say as we were on this side.
Mr Kaine, really, has put up this so-called matter of public importance in an attempt to divert attention from the failure of his own Alliance Government to manage the budget during Mr Kaine's own time in power. In doing so, Mr Kaine, of course, has betrayed his total confusion about not only the budget process but also the political process. On the one hand, early in his remarks he accused me of aiming my budget wholly and solely at the February election. Throughout the rest of his remarks he accused me of having an unpopular budget. I do not think I could have done both. Mr Kaine is terribly, terribly confused.
He also asked the question: "What are the fundamental issues of the budget?". I am surprised to have to reiterate them again for Mr Kaine's benefit. Fundamentally, the budget that I have brought forward is a balanced budget - and, of course, that marks it in stark contrast to Mr Kaine's budget, which featured a deficit. So, it is a balanced budget - a budget under which the ACT will live within its means.
As Mr Kaine has said on many occasions, our means are somewhat reduced. Due to our harsh treatment by the Commonwealth and due to the outcome of the May Premiers Conference, at which time Mr Kaine had the responsibility of arguing the ACT's case, we find ourselves with a lot less money. So, it is a budget which recognises that fact and which reins in the ACT to live within its means. As I say, that puts it in sharp contrast to Mr Kaine's effort.
Mr Kaine not only had a deficit but also relied enormously on borrowings. During his time as Treasurer Mr Kaine had what I could only call an inflated capital works program which relied on $43m of new borrowings. That is $43m, Mr Kaine, which you borrowed in order to finance your capital works. In contrast to that, under my budget, we will be repaying significant amounts of debt. Mr Kaine, that is a responsible action. That is a way by which the ACT can live within its means, not just this year but in future years, by reducing interest.
I know that your mentor, the New South Wales temporary Premier, Mr Greiner, is a great one for deficits and a great one for borrowings. He has almost bankrupted his State in the process. His deficit this year was, in fact, about the size of the entire ACT budget. If that is the kind of model which the Liberal Party in the ACT wishes to follow, I do not think you will find that the ACT community is prepared to go along with you on that.
Mr Duby: How does the New South Wales deficit relate to the Victorian deficit?
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