Page 887 - Week 03 - Wednesday, 27 February 2013
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MR SMYTH: That is very astute, minister, that you have noticed that I am not in budget cabinet. I am glad that you are the Treasurer now that you have managed—
Mr Barr interjecting—
MR SMYTH: We will be one day. But, again, you look at this plan. As Mr Hanson pointed out, the surplus that just seems to always elude us, that drifts slowly further afield, is now down to about 0.6 of one per cent of the budget. It is under $30 million. You have to question the government’s commitment to getting to the surplus.
We all take on board the discount rate and we all know what that means for the superannuation liability. But if your whole way of delivering a surplus budget is to constantly rely on the returns of superannuation instead of tackling the root cause of your deficits, which of course is that you spend more money than you earn, we are never going to see true economic sustainability in the ACT. This is what the government is good at and, indeed, the amendment outlines a whole lot of other quite worthy projects. I do not think there is anybody I know that does not want to see some sort of NDIS scheme in place. But it all comes at a cost and we have to live within our means. This is a government that stalwartly refuses to live within its means.
We get to the issue of infrastructure. Just so that Mr Barr has it fresh in his mind, when we look, for instance, at the cost of the light rail, Mr Barr says, “We are committed to the project.” I say, “Whatever the cost. Is there a number at which the project will not go ahead?” Mr Barr says, “No.” It is very simple.
Mr Barr: And what’s the next line, Brendan?
MR SMYTH: “Are you committed to it whatever the cost?” “No, I’m not saying that either.” But you just said, “Whatever the cost.”
Mr Barr: Thank you. You left that little bit out of your press release, didn’t you?
MR SMYTH: I cannot help it that you vacillate. One moment you say there is no number at which the project will not go ahead.
Mr Barr interjecting—
MR SMYTH: You say, “No.” “You are committed to it whatever the cost?” “No, I’m not saying that either.” At best, people could say it is not clear what you are saying, which is so typical of this government. I think you let the cat out of the bag: “Is there a number at which this project will not go ahead?” “No.”
I will go back to where I started. I will go back to the financial audits and the adjudicator. What does the Auditor-General say? The report states:
The use of borrowings to fund the Infrastructure Investment Program has also contributed to the significant weakening of the long-term financial position since the previous year.
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