Page 1031 - Week 04 - Tuesday, 2 May 2006
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one might call them that, or at least suggestions—that budget deficits might be anticipated. In the context of what they are, I am simply trying to drag back to memory what the outlook forecast in the midyear review for the outyears was, but I do not have them in my mind. But, certainly—
Mr Smyth: 37, 108, 57, 17.
MR STANHOPE: I thank the Leader of the Opposition for that, which refreshes my memory. I was struggling to recall whether the figure of $190 million appeared in the midyear review. Having now been assured by the Leader of the Opposition, if I can take the numbers indicated in the Leader of the Opposition’s interjection as the numbers that were indeed forecast in the midyear review as a likely series of deficits into the outyears, I can answer him now quite bluntly that, no, the government has not received any advice. The advice that the government has in relation to projected deficits is that included in the midyear review, and the government has received no advice to suggest otherwise.
To paraphrase, so that there is no misunderstanding here, the Leader of the Opposition’s question essentially is: do the government have information or advice, additional to the midyear review, that has altered the midyear review prediction? We have not. I cannot recall any advice specifically that suggests that those numbers have changed, and I cannot think of a circumstance indeed in which the work that would have been necessary to change those predictions or that advice has or would have been done in any event in the context of our overarching focus now on working to deliver a budget.
It has to be said, too—this is something that has been lost in some of the debate and some of the commentary around the midyear review and the forward outlook included in the midyear review—that that is what it is: a forward outlook that essentially says that, everything remaining equal, nothing changing, parameters remaining the same, these are anticipated or expected results. But of course things change constantly. Things change from week to week, as they have since the midyear review was prepared and developed. The government, through the decisions that it will take in the context of the budget, will, of course, have a very significant impact on the ultimate look of the bottom line, and the government is currently in the midst of that process of developing its budget for the coming financial year. Of course, in the context of that, we are having very significant regard to some of the issues that the midyear review has raised, and some of the implications of those issues, in the context of the future of the ACT and of our budget.
MR SMYTH: I have a supplementary question, Mr Speaker. Treasurer, why then did Mr Michael Costello, in his briefings on the functional review to business groups last week, at which a member of your staff was present, tell those present that the government faced a deficit of $190 million in the outyears?
MR STANHOPE: I was not present at any briefing that Mr Costello gave to business groups or others in the context of the functional review, although I am pleased that Mr Costello and Mr Greg Smith, who conducted the review, were available to brief businesses, as well as unions and others, around issues that the government faces. It was appropriate that those briefings were given, but I cannot confirm or deny anything that Mr Costello said in briefings at which I was not present. I have not received a report on any of those briefings, and I have not received any information or advice around what it was or what it was not that Mr Costello may have said or the context in which he said it.
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