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Legislative Assembly for the ACT: 2002 Week 12 Hansard (13 November) . . Page.. 3516 ..

MR WOOD (continuing):

It is important to recognise the significance of festivals and the value they can hold. Tuggeranong is certainly a good example of that. The organising committee is made up of a team of dedicated volunteers who generously and effectively give their time and effort to the success of the event. I congratulate Michael Lindfield, the chair, and his committee. The event is in its 13th year. It is held over three days and this year's program included 30 events and involved over 40 community organisations.

There was a time in this town, as some members will recall, when there were a number of such community festivals around Canberra-three or four of them. This is the last one. This one has survived when others haven't. It is a measure of the continuing enthusiasm of people, including Mr Hargreaves, who was on that committee in an earlier life.

Mr Hargreaves: Half my life.

MR WOOD: I can remember giving you a cheque once when you were the treasurer.

Mr Hargreaves: Yes, you did indeed, Mr Wood.

MR WOOD: I did indeed. But this festival has survived when others have not and that is because, I think, of the particular characteristics of Tuggeranong, the people who work there and the committee's effectiveness in winning sponsorship and community support. Mr Hargreaves mentioned the degree of sponsorship, and I think that is very important. It is a measure of the support that the festival can draw, because sponsorship beyond government support is always necessary. I commend the festival again and look forward to the festival in 2003.

Debate interrupted in accordance with standing order 74 and the resumption of the debate made an order of the day for a later hour this day.

Sitting suspended from 12.26 to 2.30 pm

Questions without notice

Superannuation

MR HUMPHRIES: My question is to the Treasurer, Mr Quinlan. On 28 October, you were on ABC radio discussing the poor performance of the territory superannuation portfolio, when you said:

I never said I'd take more risky. I said I'd take less risky. I think you will find if you read my public statements before the election you will find that this government said that it would be a conservative investor.

Minister, I concede that I cannot find any reference to your support for higher risk investments prior to the last ACT election, but you most certainly have made different statements since the election. I refer you to page 35 of the Treasury annual report, which says, in relation to the superannuation provision account:

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