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Legislative Assembly for the ACT: 1997 Week 4 Hansard (6 May) . . Page.. 1007 ..

entitled to a reasonable return on the more than $1 billion they have invested in the corporation. The release of this capital will negate the need for any new borrowings for the general government sector for the second year in a row and will finance the Territory's substantial capital works program. In other words, the $100m will go straight into bricks and mortar.

Mr Speaker, this budget is the end result of exhaustive community consultation. We have listened to the people of Canberra and shaped our priorities around the needs and concerns of the community. What people have told us, without exception, is that jobs are their greatest concern. But they also believe that it is time we charted our own course rather than simply relying on the Commonwealth to dictate the future of this city and our economy. We share that view. The restructuring of our economy will not happen overnight. It will take time. But this budget says directly to the young people of Canberra, "You do have a future in this city and we are prepared to invest in your future". When BHP announced it was shedding 2,000 jobs at its Newcastle factories, the news made the front page of every major paper in Australia. Yet when the Commonwealth sheds 7,000 Public Service jobs in Canberra it barely rates a mention outside the ACT.

This Government will continue to quietly go about the job that Canberrans elected us to do and get on with encouraging the right climate for new business and new jobs. We will also continue to take the lead in progressing major projects such as an international airport and a very high speed rail link, because we have a vision for Canberra and a strategy that is reflected in this budget. To succeed, we have to remain enthusiastic. We have to continue to take risks. We have to continue to be aggressive. At this critical point in Canberra's history there simply is no other way. We have to stand on our own two feet, but we have confidence in Canberra. I commend the 1997-98 budget to the Assembly.

Debate (on motion by Mr Whitecross) adjourned.

MR SPEAKER: For the information of members, I present reports of study trips undertaken by Mr Wood, MLA, to Sydney on 3 and 4 March 1997; Mr Moore, MLA, to Europe and Hong Kong from 28 February to 7 April 1997; and Mr Berry, MLA, to France, Spain and Germany in March 1997.

MR SPEAKER: I present the purchase agreement between me, as Speaker, and the Clerk of the Legislative Assembly for the Australian Capital Territory.

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