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Legislative Assembly for the ACT: 1997 Week 13 Hansard (2 December) . . Page.. 4322 ..

MR WHITECROSS (5.52), in reply: Unfortunately, Mrs Littlewood, did not, in her remarks just then, cure her earlier error of misinterpreting the report. Can I just reiterate that the proposed inquiry in the next Assembly does not relate to the lease and lease-back of the Magistrates Court building or the Dame Pattie Menzies Building; instead, it relates to a review of a comprehensive policy on managing interest and insurance risks. I realise that Mrs Littlewood did not understand this because she did not attend the committee meeting at which the report was finalised.

Question resolved in the affirmative.

MR HIRD (5.53): Madam Deputy Speaker, I present the report of the Standing Committee on Economic Development and Tourism, entitled "Inquiry into the Economic Impact of the Construction of a Very High Speed Train", together with a copy of the extracts of the minutes of proceedings. I move:

That the report be noted.

Madam Deputy Speaker, as chairman of the Standing Committee on Economic Development and Tourism, which conducted this inquiry, I have much pleasure in commending the report to the parliament. It is a pleasure to do so because this is the most significant development program undertaken, not only in the ACT and the Australian capital region, but in the whole of eastern Australia, since the Snowy Mountains hydro-electric scheme in the late 1940s or early 1950s.

The very high speed train project, running in tandem with the upgrading of Canberra Airport to international status, sets the stage for a regional development program that will provide untold benefits to future generations of Canberrans and the people within this great region. There should be no question about the viability of the very high speed train service running in conjunction with an international airport. When the announcement of the successful bidder for the very high speed train service is made next year, Madam Deputy Speaker, I am confident that not only will the Canberra to Sydney service become a reality, but we will be accepting the very real possibility of Canberra being the hub of a new high-tech transport system linking Sydney and Melbourne. That, I believe, will be just the beginning.

Importantly, this project will create up to 13,000 jobs during the construction stages and up to 3,000 permanent jobs when the train is up and running. Pressure is already being applied to the six contenders for the service to establish their headquarters and catering facilities in Canberra. That will mean that many permanent jobs will be open to residents of this area. The Carnell Government has been instrumental in keeping this project alive in recent years - and, might I say, not always with the support of the New South Wales and Commonwealth governments. But, as the Chief Minister has said so often, this project is important because of the regional economic benefits that will come with it.

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