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Legislative Assembly for the ACT: 2000 Week 7 Hansard (29 June) . . Page.. 2267 ..
MR SMYTH (continuing):
early this month a round of the V8 car racing series in the parliamentary triangle attracted more than 100,000 spectators.
The city has also been helped by a revitalised National Gallery, the highly successful spring flower show, Floriade, and a newly established multicultural festival. The changing face of Canberra can be seen in the composition of its workforce: a decade ago it was 60 per cent government and now it is slightly more than 40 per cent.
It goes onto say:
In March, the ACT decided to promote its virtues in a one-day exhibition, to which it attracted 81 business leaders from around Australia. The key speakers were the Brazilian business guru Ricardo Semler and the president of the University of Limerick, Roger Downer. ACT business development manager Peter Gordon admits that few private-sector executives see Canberra as a real business destination. But, he says, there is too little appreciation of the strength of knowledge industries and the growing size of the consumer market. Incomes in Canberra are higher than the national average and there is a higher level of disposable income. He says the seminar showed that it is possible to change attitudes.
Mr Deputy Speaker, there are many articles like that. What we hear from the Labor Party is nothing but glib rhetoric. The reality is that the leadership of the Chief Minister, Kate Carnell, and the good fiscal management of this government have contributed to making Canberra the successful city that it is today and to the Treasurer being able to deliver a balanced budget.
MR CORBELL (4:13): Before I get to the substance of my speech, I should mention that I do not know what Mr Smyth said has to do with the Department of Treasury and Infrastructure. Nevertheless, I am sure that-
Mr Quinlan: It is the best speech he has ever delivered in the place.
MR CORBELL: Indeed, and he did not even write it. I thought that was a very good effort. Mr Deputy Speaker, in addressing the proposed expenditure of the Department of Treasury and Infrastructure I would like to focus on the changes to the Civic revitalisation program and in particular the policy to extend the waiver on stamp duty for residential units in the Civic area.
Members would be aware that the Civic revitalisation policy has been in place for a number of years and it currently provides for a stamp duty waiver on units of up to a quarter of a million dollars in value. However, the government has announced in this year's budget that it will be extending that waiver on a partial basis to units valued between $250,000 and $350,000. The government has indicated that this change applies to new and existing developments, but only to contracts for sale of residential property entered into on or after 20 December 1999.
I have a couple of concerns about this and I think other members in this place should also be concerned. My first concern is that this measure relates to properties purchased in the middle of this financial year. It relates to properties potentially purchased six months
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