Page 1870 - Week 07 - Tuesday, 14 June 1994
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They will buy it at 69.9c. The reduction in petrol pricing that we have achieved has put at least $10m back into this economy - money that is going around and is being spent by consumers and by small businesses. Madam Speaker, I table an extract from the Canberra Times of 13 October 1992 saying, "Oil companies set to close up to 12 service stations". This was a statement from the Motor Trades Association of Australia.
Yowani Golf Club - Development Proposal
MR MOORE: Madam Speaker, my question is directed to the Chief Minister and Treasurer. The minutes of the Yowani Golf Club annual general meeting of Thursday, 7 April 1994, indicate that, even if the Yowani home unit development of 238 units fails, Yowani will be presented with a cheque for the full quota of $20,000 per unit, worth approximately $4m. Does the Chief Minister consider that the ACT coffers are so flush that we can subsidise a golf club to the tune of $4m, or will she reconsider changing betterment provisions to provide 100 per cent for residential, as has been done with commercial properties?
MS FOLLETT: Madam Speaker, I thank Mr Moore for the question. I say at the outset that I am not aware of the document that Mr Moore has quoted from and I would like to see it. However, it is the case, Madam Speaker, that the Government expects a fair return on property developments. To the best of my knowledge, the proposal for Yowani is just that - a proposal. It is nothing more than that at this stage. I would expect that the closest scrutiny would need to be given to the planning and social merits of the proposal, as well as to the financial merits. Mr Moore is aware of the current arrangement on betterment. I can only advise, Madam Speaker, that the Government has no current plans to amend that arrangement.
MR MOORE: I have a supplementary question. Considering that substantial sums of money are being lost because we charge 50 per cent betterment rather than 100 per cent betterment, will your Government reconsider this business of having a 50 per cent betterment where proposals such as this can provide money to our coffers? We have an opportunity to allow them to do so.
MS FOLLETT: Madam Speaker, I believe that I have answered that question by saying that we have no current plans to review the betterment arrangement. I should say that all of our revenue measures are under review continuously. If it were to be apparent that the community generally was missing out on money which it rightfully should be getting, obviously the Government would want to look very seriously at that question. To answer Mr Moore briefly, we do not have before us currently a specific proposal to review betterment.
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