Page 4720 - Week 11 - Wednesday, 20 October 2010
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MS GALLAGHER: Yes, it is. I know that we do not like to talk about Totalcare very much—for good reasons, Mr Smyth. However, the costs associated with Rhodium have essentially been around the wind-up of the company and the costs of winding up the company and really go back to the issues around how we could not sell the company, how we have disposed of the leases and the costs associated with that.
MR SPEAKER: A supplementary, Mr Smyth.
MR SMYTH: Treasurer, what actions are you taking to ensure that Rhodium does not continue to be a drain on the ACT budget?
MS GALLAGHER: We are winding it down. That is what we are doing. It is effectively finished. There is a shelf company remaining to manage a number of leases that we have not been able to move, but they will finish within the next short little while—a couple of years. So—
Mr Smyth: It’s a couple of years now?
MS GALLAGHER: Well, there are a number of leases that did not agree to move across to new arrangements. I will check the exact time around when those leases finish, but effectively Rhodium has wound down, and that will stop Rhodium being a drain on the public purse.
MR SPEAKER: Mr Seselja, a supplementary question?
MR SESELJA: Thank you, Mr Speaker. Treasurer, will you guarantee no further losses associated with Rhodium?
MS GALLAGHER: There are certainly none that I am aware of at this point in time and effectively the wind-down has finished.
MR SPEAKER: Mr Seselja, a supplementary?
MR SESELJA: Treasurer, after Rhodium recorded a loss that was three times what had been estimated, how is it possible for the directors of Rhodium to attest that the company will be able to pay its debts as and when they become due and payable?
MS GALLAGHER: The government is effectively covering any further losses of Rhodium. I am not aware of any further costs associated with Rhodium at this point in time. We have the Rhodium AGM coming up in the next two weeks, I believe, but I have not been advised of any further costs.
Planning—Civic cycle loop
MS LE COUTEUR: My question is to the Acting Minister for Land and Property Services and concerns the government’s new greater city area action plan and the Civic cycle loop. Minister, last week the government took credit for the Civic cycle loop being the top government priority, but it does not appear in the new city action
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