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Legislative Assembly for the ACT: 1999 Week 7 Hansard (2 July) . . Page.. 2146 ..

MS CARNELL (continuing):

injections to the superannuation provision account to offset our employee entitlement liability;

legislative reforms that require prudent management of the assets and liabilities and achievement of operating surpluses;

contestability and contracting out in order to improve service delivery and more efficiently managed costs;

comparative pricing;

reconsideration of the level and mix of services; and

I would also like to take this opportunity to highlight some issues raised in the Auditor-General's Report No. 8.

It is stated on p22 of the report that 'The significance to the ACT Community of the existence of the large losses is that the losses will eventually have to be met from future Territory revenues and these revenues must be supplied by the taxpayers in the community. Alternatively the Territory will have to significantly reduce services, and/or sell some of the taxpayer's significant public assets. Also almost certainly the capital works program will have to be cut.'

The Auditor-General, in his report, placed emphasis on asset sales, in particular the sale of ACTEW, an option not accepted by the Assembly in its vote on 2 February.

Mr Speaker, we must efficiently utilise our resources including our public assets. The Auditor-General notes on page 44 of his report that ACTEW, one of our most significant assets 'in its current form will not grow in value, and in fact its value is most likely to fall significantly'. We have put up a number of options to reduce the operating loss and addressing the unfunded superannuation liability, but every time we provide suggestions those opposite merely criticise and do not support new ideas and strategies.

Even the Auditor-General states on p8 of his report that the reduction of an operating loss 'will not be effectively implemented unless a cooperative and constructive approach is taken by all Members of a fully informed Legislative Assembly'.

We have. Mr Speaker in the 1999-2000 budget, achieved a remarkable result. We have set a budget strategy that will result in the elimination of the ACT's operating loss within two years. But we can not stop there, we must achieve a sustainable operating position. We need to be able to fund liabilities, such as superannuation, maintain

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