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Legislative Assembly for the ACT: 1998 Week 11 Hansard (9 December) . . Page.. 3422 ..

Motion (by Mr Humphries) proposed:

That the Assembly do now adjourn.

MR QUINLAN (6.58): I wish to take just a couple of moments of everybody's time. Earlier today the Chief Minister quoted a selective sentence from the Australia Institute report on ACTEW. I just want to read into Hansard the full paragraph. It states:

It will be argued below that the appropriate procedure for valuing public enterprises is one based on a risk-adjusted bond rate. However, it should be observed that this issue is still being debated by economists. Hence, it is appropriate to consider valuations based on the private WACC. It is clearly inappropriate, however, to use a private WACC in place of the bond rate actually faced by government and then to make additional adjustments for implicit costs of public ownership. In effect, these costs are being counted twice. Unfortunately, this is precisely the procedure adopted by ABN AMRO/DGJ and endorsed by the ACT Government.

MR HIRD (6.59): Mr Speaker, I would like to take one minute to congratulate the ACT Fire Brigade on their fine effort in the late hours of yesterday and early hours of today when a fire occurred at the Finnish Club in Jamison. They did a sterling job. It is a dangerous building. I would like to congratulate the officers who were in attendance, and I would ask the Minister to convey my comments to them.

Question resolved in the affirmative.

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