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Legislative Assembly for the ACT: 1997 Week 4 Hansard (7 May) . . Page.. 1058 ..
MR SPEAKER: Do you have a supplementary question, Ms Reilly?
MS REILLY: Yes, Mr Speaker. As you have just outlined, Chief Minister, not all these jobs came out through the youth symposium. In fact, some of the jobs you have outlined were ones the Chamber of Commerce was particularly interested in, and all we will end up with is a further subsidy to business and no jobs.
MRS CARNELL: Mr Speaker, I think that was probably a statement. What is very interesting is that the Youth Coalition, who organised the symposium, came out with a press release yesterday saying that it was great, that they were really pleased the Government had got behind the youth symposium in jobs. Even today, I have had a phone call from the Youth Coalition saying that they want to have a round table discussion with CES and all the people involved, so that they can get this great new package on the ground, working quickly.
MR OSBORNE: My question is to the Chief Minister regarding her budget claims of no new borrowings and no new taxes or charges. Chief Minister, in your budget it is indicated that ACTEW makes a number of significant payments to the Government. For the 1997-98 financial year this amounts to, including the usual dividend, about $175m, which is about $140m more than ACTEW were expecting. In the following financial year, once again including the expected dividend, around another $132m is to be paid to the Government. Of this, $100m, I think you confirmed last night on radio, was for the purchase of streetlight poles. Mrs Carnell, together these total well over $300m over the next two years. Also contained in ACTEW's financial statements are their expected borrowings for the same period. These total $193m. In other words, Mrs Carnell, of the $240m over and above their normal dividends, ACTEW are going to borrow 80 per cent of that money. Yesterday, I remind you, you said that there were no new borrowings in this budget. You also said that it was up to ACTEW how they decided to raise the money. But it is obvious that it is already the intention of both ACTEW and the Government that about 80 per cent of this amount will be borrowed. Mrs Carnell, will you admit today that your budget does include borrowings and that you forced ACTEW to do the borrowing on your behalf?
MRS CARNELL: No. If Mr Osborne would like to have a look at the budget speech I delivered yesterday, we made it very clear that there would be no new borrowings in the ACT Government sector because that is the only area - - -
Mr Osborne: Oh, that is it; I am sorry.
MRS CARNELL: It is in there. That is the only area we actually have control over. How ACTEW or our other corporations determine to run their businesses is somewhat outside the control of this place. The reason we went down the path we did with ACTEW is that, as all those present would be aware, in our forward estimates we did
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