Page 3235 - Week 11 - Wednesday, 21 September 1994
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BUDGET OUTCOME 1993-94
Paper
MS FOLLETT (Chief Minister and Treasurer) (3.11): Madam Speaker, for the information of members, I present the report on the 1993-94 budget outcome, and move:
That the Assembly takes note of the paper.
Madam Speaker, on 24 August I tabled the outcome of the 1993-94 budget. At the same time I indicated that further information relating to the outcome would be provided by 20 September. I also indicated on 24 August that the audited aggregate and unitary financial statements would be available. I wish to advise members that the reconciliation of the aggregate financial statement and therefore Treasury's unitary financial statement has not been completed within that timeframe. These statements will be provided to members directly when they have been completed and will be tabled on the next sitting day.
I now table the report on the 1993-94 budget outcome, in government finance statistics format, together with details of the financial assets and liabilities of the ACT. The report shows that the general government sector of the ACT achieved a surplus of $14m in 1993-94 - a $26m improvement on budget estimates. The ACT has now achieved a general government surplus each year since 1990-91.
The ACT has managed the difficult transition since self-government without increasing debt. In fact, the level of debt has been reduced over this period. At the same time, outlays on general government activities have continued to reduce as a share of the ACT economy, falling from 14.6 per cent of gross state product in 1990-91 to 12.6 per cent in 1993-94. In relation to the ACT's Loan Council allocation, the anticipated net call on financial markets in 1993-94 has been turned to a net contribution to national savings. During 1993-94 the financial reserves of the general government sector increased from $161m to $189m. At the same time the total public sector net debt fell from $93m to $54m, which represents a fall of 41 per cent in real per capita terms. This reflects the Government's budget strategy to limit borrowings and provide for future superannuation liabilities and the repayment of debt.
Question resolved in the affirmative.
PAPER
MR WOOD (Minister for Education and Training, Minister for the Arts and Heritage and Minister for the Environment, Land and Planning: Mr Deputy Speaker, for the information of members and pursuant to section 20 of the Commissioner for the Environment Act 1993, I present the Commissioner for the Environment annual report for 1993-94.
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