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Legislative Assembly for the ACT: 1996 Week 12 Hansard (21 November) . . Page.. 4118 ..

MS REILLY (continuing):

Another interesting point about the budget for this year is the $10.4m taken out of it. As I said to you the other day, this was seen as something quite stunning. It was specifically mentioned at a national meeting last Friday that the ACT Government allowed that much money to come out of public housing. There seemed to be no problem in taking out that much from a budget of the size that we have in housing. When you look at the figures in this book, which I think we are saying is the truth and honesty one, it shows that there is a reduction of only $7.9m in the budget. I am not quite sure how you tie the $10.4m to the $7.9m overall. We have the same problem in trying to add them all up. It is very difficult to discover.

When you look at the budget papers, page 364 shows the capital grants. They show a reduction of 38 per cent this year, which I assume picks up the $10.4m, and the same reduction in the outyears. Are we going to take this much capital money out of the budget in future years? This is something that is of concern. One was given the impression - I know it was not said directly - that this $10.4m that is being taken out this year was a special for this year to fill up Costello's black hole. But it is also shown as a reduction in the outyears. We would be interested, Minister, to hear what is happening.

We have a construction program shown as costing $34m. This is to put up 195 units. I talked about some of the lags that were in that the other day. We also have sales that are going to realise $21m. This would suggest that the capital works this year, which have gone from $40m last year, will have $13m of new money. Of the total of $34m, you are replacing that money with $21m from sales. How much real money is going into capital works this year? I am not doubting that the 195 units will be commenced in some form or other, but I want to know what is the net gain in the capital works budget this year.

You are going to get your $21m from sales, which you have been heralding around the place, Minister. In the first two months of this year you got $4.8m out of sales, according to the figures you gave me.

Mr Stefaniak: I think it was $8.55m.

MS REILLY: I worked it out at $4.882m, but I did not use a calculator. I did not have one with me. I understand that you sold another 16 in the next month. I think that added up to about 55. It came to $11m for what we sold all up. I think that was the figure you used. There was $6m worth of sales in September. It must have averaged $382,000 for each sale. It would be interesting to look at the sales for September. We have argued before about whether we are going to realise the whole $21m in sales this year. It still comes down to what money has gone into the capital works budget this year, having taken out the $10.4m that we so joyfully gave back to the Commonwealth.

What capital works are going to be done this year? If you look at the annual report from last year you see what the new starts are in 1994-95. When you look at the annual report for 1995-96 there is no information about what was done, about what was completed last year. You do get some information on what is starting for the 1996-97 program.

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