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Legislative Assembly for the ACT: 2002 Week 9 Hansard (21 August) . . Page.. 2671 ..

MR QUINLAN: That is not the question, Mr Humphries. I am challenging the fact, and stood in this place to remind the Assembly, that it is not true that Labor delivered a $344 million deficit. What could be said, though, is that a $344 million deficit was recorded in the middle year of the first Carnell government. It was inflated by some abnormal items to a large degree, but nevertheless, it was a matter of a $344 million deficit in the name of the Carnell government. That is a recorded fact. I think that is the best we could get out of this, is it not?

Mr Humphries: No.

MR QUINLAN: I can say-and I will repeat this much-I have stood in this place before and made the statement that anybody who does claim that Labor delivered a $344 million loss is a liar. I have stood in the place and said that and it was not challenged. I did hand out in this place-

MR SPEAKER: Order! No. Before you get up, Mr Quinlan just said, "I have said that in this place before and it has never been challenged."

MR QUINLAN: True.

MR SPEAKER: I have been listening closely.

Mr Humphries: We have always challenged it, I think, Mr Quinlan.

MR QUINLAN: I have stood in this place before, made that statement, and you did not challenge me.

Mr Humphries: Well, I challenge it now.

Mr Hargreaves: You were deaf, as usual.

MR SPEAKER: Mr Hargreaves, Mr Quinlan has the floor.

Mr Humphries: Can you answer the question, by the way? Is that possible?

MR QUINLAN: Well, that was part of the question, wasn't it? I think I have very adequately answered part of the question already. Regarding a surplus, I did bring a piece of paper in here that recorded a surplus. That report also enumerates a couple of very abnormal matters, such as the bringing forward of land sales of about $13 million to meet a need. In fact, had those sales taken place three days later, I would have been standing here saying, yes, there was a deficit. Those land sales have made a difference.

Some asset revaluations also made a difference-technical accounting. However, when we have debated this previously, the real argument has swung on investment performance. Mr Humphries came into this place with an alternate report to the commission of audit, which said, "You cannot value those things." I think we have had some argy-bargy across the house as to what the investment performance has been. The investment performance, as well as I can recall it-do not accuse me of telling lies if I have it wrong-was a deficit of something like $30 million.

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