Page 4610 - Week 15 - Tuesday, 6 December 1994
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losses of this magnitude are not sustained by our casino. I understand, Madam Speaker, that junket operations will be fully separated from the normal operations of the casino. This is essential, with the differing tax rates which will apply. I am satisfied, from what I have heard, that the processes and procedures will be put in place so that these arrangements are kept entirely separate and therefore there is full accountability to the ACT.
Madam Speaker, it is important to note that the Government believes that in the first full financial year of operation an additional $2m will be paid to the ACT as a result of junket operations and expects that in 1994-95 some $900,000 will be returned to the Territory. It is also noted in the Chief Minister's presentation speech that other benefits could include an estimated $780 of spending per person per day on shopping, tours, restaurants and hotels. However, Madam Speaker, it needs to be remembered that this money is unlikely to be spent by the gamblers, who will already have received considerable inducements to come to the ACT and will be gambling anyway. This money is therefore likely to be spent by the people accompanying the gamblers to the ACT, not the gamblers themselves.
In summary, Madam Speaker, while I can see the potential benefits to the ACT in expected revenue returns, I feel somewhat uncomfortable about what is proposed. I certainly note the amendments to the Bill foreshadowed by Mr Kaine and would like to indicate to the Assembly that I will support them unless very strong contrary arguments are put to the Assembly by the Chief Minister. It seems to make sense to me that these sunset clause provisions be adopted and that the Assembly formally review them at an appropriate time in the future.
MR MOORE (9.20): Madam Speaker, I did not think I would ever be standing up in the Assembly talking about junkets, but in this context I think they are an appropriate thing to be speaking about.
Mr Kaine: I thought you were the expert, Michael.
MR MOORE: I did not hear any interjection at all. Madam Speaker, the Casino Control (Amendment) Bill, I believe, has been presented to the Assembly for its potential to provide more tax income to the Assembly, particularly from sources outside Canberra. To me, that is a very sensible thing. The more revenue that we can raise for this community from outside Canberra - in fact, from offshore - the better. Madam Speaker, I think that has been acknowledged by other speakers. According to the introductory speech by the Chief Minister and also the briefing that the Chief Minister provided for us, that is clearly the intention of the Government in putting this Bill up.
Madam Speaker, I take this opportunity to thank the Chief Minister and all Ministers for making their staff available to us for those briefings. As we close in on the end of the year, I do not know whether I am going to get this opportunity again. I would like to say how much I appreciate those staff members being available. They are always forthright and operate very appropriately within their role as public servants.
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