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Legislative Assembly for the ACT: 2001 Week 3 Hansard (8 March) . . Page.. 827 ..

MR HUMPHRIES (continuing):

the timing difference, and once again there is no budget bottom line impact, as it will be offset by additional gaming tax revenue.

There is an additional $4.5 million for the Department of Treasury for the first home owners scheme. The scheme is covered under the intergovernmental agreement on the reform of Commonwealth-state financial relations and is budget neutral, as it is offset by additional Commonwealth revenue. Members will recall that in the original 2000-01 budget an amount of $16 million was provided for this scheme. I can advise the Assembly with pleasure that to date the number of people benefiting from this scheme is significantly higher than expectations. Therefore, an increase in appropriation is required to authorise these payments.

There is an additional $3 million, also for the Department of Treasury, for payments to the Australian Taxation Office relating to the ATO's GST administration costs. This represents the ACT share of the $183 million increase in ATO costs announced by the federal Treasurer in November 2000. All states and territories are required under the intergovernmental agreement to reimburse the ATO the costs of administering the GST on their behalf. The payment is also offset by additional Commonwealth revenue.

Mr Speaker, the final additional appropriation which is budget neutral relates to the Kingston Foreshore Development Authority, in relation to an operating loan of $4.430 million provided in 1999-2000. The government is proposing that this debt now be treated as government equity in the project. The expenditure of the authority is offset by revenue from the land it develops and promotes. Turning debt into equity will put it in a stronger financial position to pursue its objectives and does not unnecessarily burden the operation with high levels of debt from the start. The loan was funded by the Central Financing Unit's territorial account, and expenses on behalf of the territory appropriation of $4.196 million will allow the Central Financing Unit to waive the balance of this internal loan.

Similarly, the bill includes $5.480 million for the Central Financing Unit for the waiver of a government loan to Bruce Operations Pty Ltd. This debt was incurred by BOPL as part of the stadium redevelopment and subsequent operational costs. On 1 July 2000 the Stadiums Authority assumed responsibility for the operation of Bruce Stadium and has taken over contracts relating to the ongoing operation of the stadium. As a result, BOPL has no significant ongoing revenue sources and no capacity to repay the loan.

The bill seeks $1.720 million in expenses on behalf of the territory appropriation for the Chief Minister's Department to be passed on to the Stadiums Authority. This funding has become necessary due to a reduction in the expected revenue for function and event hire, naming rights and concert sales.

These adjustments made in relation to the stadium are a continuation of my already stated intention to address the financial and structural issues of Bruce Stadium. They are part of our move to ensure the stadium is now operating as a community facility, not a commercial one.

I turn to the departmental appropriations. Mr Speaker, $1.506 million is being sought in GPOs for the Chief Minister's Department. This includes additional appropriations of $0.250 million to support four Australian Football League matches at the Manuka Oval

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