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Legislative Assembly for the ACT: 2000 Week 4 Hansard (30 March) . . Page.. 1079 ..

MR HUMPHRIES (continuing):

setting aside money for the provision of superannuation for our employees and setting money aside at a greater rate and on a greater scale than any previous government in the ACT. We do not intend for our work to be undone by a future government, of whatever persuasion, interested in short-term political gain rather than long-term management of the Territory's liabilities.

Mr Speaker, when the present Premier and Treasurer of Victoria came to office, he made some comments on the superannuation provision put aside by the former Liberal Government of Victoria. He expressed a view - a rather ominous view, I would have thought, as the Premier and Treasurer of Victoria -that the former Government had made an overly generous provision for superannuation in that State; that the public of Victoria had been conned by the former Government putting money aside on that scale for superannuation.

Mr Speaker, I am deeply concerned lest such a view ever be expressed by a Treasurer in the ACT, at least while the magnitude of the ACT's unfunded superannuation liability is so large, and I believe it is important for a clear ring fence to be built around the Territory's superannuation investment to ensure that this community's investment in that asset is protected and maintained. I am sure, given the comments from the Opposition today, that this measure will be supported warmly by the Assembly in its desire to make sure that the investment made by this community on behalf of the community is protected into the future. I commend this Bill to the Assembly.

Debate (on motion by Mr Quinlan ) adjourned.

MR HUMPHRIES (Treasurer, Attorney-General and Minister for Justice and Community Safety) (10.41): Mr Speaker, I present the First Home Owner Grant Bill 2000, together with its explanatory memorandum.

Title read by Clerk.

MR HUMPHRIES: Mr Speaker, I move:

I am pleased to present the First Home Owner Grant Bill 2000. This legislation introduces the first home owner scheme, which provides grants of $7,000 for eligible applicants. The scheme will come into effect on 1 July 2000. The first home owner scheme grants are provided to assist first home buyers to offset additional costs associated with the introduction of the goods and services tax. Grants are not means tested.

Under the Intergovernmental Agreement on the Reform of Commonwealth-State Relations, all States and Territories are required, in return for GST revenues, to fund and administer a new uniform first home owner scheme. This Bill largely mirrors legislation

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