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Legislative Assembly for the ACT: 1997 Week 1 Hansard (19 February) . . Page.. 112 ..

MRS CARNELL (continuing):

Mr Speaker, each month's financial report requires agencies to undertake extensive month-end procedures to properly determine accrued expenses and revenues as well as balance sheet positions. The whole-of-government consolidation then involves some 41 separate entities, requiring elimination of internal government trading in order to provide a consolidated whole-of-government report - not an insignificant job. As required by the FMA, the report includes the assets, liabilities, equity, revenues and expenses of departments - - -

Mr Moore: On a point of order, Mr Speaker: I think we have been particularly tolerant about this ministerial statement; but standing order 118(a) says that the answer shall be concise and confined to the subject matter - or words to that effect. I cannot quite find it at the moment, but that is what it says. This Minister really has gone on for quite some time to say nothing.

MR SPEAKER: Mr Moore, I think that the reply is concise, in so far as it is a fairly complex issue. Equally, it is certainly confined to the subject matter. Nevertheless, I am sure that the Chief Minister is drawing her answer to a conclusion.

MRS CARNELL: Mr Speaker, the financial management report includes, as I said, the assets, liabilities, equity, revenues and expenses of authorities - all the sorts of things that go together to make the report that we put together in November.

Finally, Mr Speaker, I note the Opposition's earnest concerns about the updated ACT performance in light of lower than expected economic growth. I am sorry that Mr Moore does not think this is important and is not part of the question; but Mr Whitecross was quite vocal last week in suggesting that the Government should totally review its budget because of the particular economic circumstances that the ACT found itself in.

Mr Whitecross may see, if he actually chooses to look at the November figures, the increase of almost 5 per cent in taxation effort outlined in the November report. If he analysed the report, he would be able to see clearly that this variation is one of the few items in that report not merely subject to a timing adjustment for this time of year. Mr Speaker, I can assure the Assembly that revenues are largely on track as outlined in the report. I also believe that the November report clearly shows that expenses as well are as expected.

Mr Speaker, why on earth would a government review its budget situation when both revenue and expenses are more or less on track? In fact, some are up and some are down; but, on average, they are on track. This Government will continue to apply downward pressure on unnecessary spending, and the lower than expected economic growth of the Territory may even assist us through lower prices for goods and services.

Mr Speaker, I sincerely welcome any constructive comments that the Opposition - or, for that matter, other members of the Assembly - may like to make on the December report when it is tabled, certainly in this sitting period, Mr Speaker, both in terms of the financial performance and in regard to the disclosure of information. Mr Speaker, it is an enormous change for any government to go into this new sort of financial reporting. We want to make sure that it is as good as it can be. On that basis, we are always interested in constructive input.

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