Page 2276 - Week 08 - Tuesday, 12 August 2014
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The new determination delivered reductions in water and sewerage prices that have impacted on the dividends and tax equivalents payable to the territory. The ICRC’s price direction, which covers the period July 2013 to June 2019, is, of course, currently being reviewed by an independent industry panel and may vary. ACTEW’s budget was developed during a period of change following the reintegration of the water business in 2012, and ACTEW is undergoing a significant business transformation program. Normal weather patterns have been assumed; however, changes in climatic conditions may result in variations to ACTEW’s profits.
In relation to the recommendations of the estimates committee, I reiterate that the government considers that ACTEW’s debt levels are prudent and appropriate and in line with industry standards, and they will continue to be managed carefully. The idea that a utility would have no debt at all is to suggest either no investment in infrastructure or that one generation would bear all of the costs of infrastructure development for subsequent generations. Debt is entirely appropriate and consistent with all other utilities in Australia and, indeed, in the world. Let us not have another one of these tedious scare campaigns about a responsible level of debt that shares the burden of a long-term infrastructure that lasts for centuries over successive generations.
Of course the ACTEW board is keeping a very close eye on the financial management of the organisation and will provide regular updates to shareholders and through the shareholders to the Assembly. There are appropriate scrutiny opportunities both in annual reports and in estimates for further questions to be asked. I commend this appropriation to the Assembly.
Proposed expenditure agreed to.
Canberra Institute of Technology—
Schedule 1, Part 1.5—$2,586,132 (net cost of outputs), totalling $2,586,132.
Schedule 1A, Part 1.5—$66,261,868 (net cost of outputs), $6,134,000 (capital injection), totalling $72,395,868.
MR DOSZPOT (Molonglo) (11.01): As the minister highlighted in the estimates process, CIT is the largest RTO and public provider of vocational education and training in the ACT and the region, offering over 400 courses ranging from certificates, traineeships and apprenticeships through to diplomas and degrees. It is unique in that it operates in almost a monopoly market given that other RTOs in the ACT are of a much smaller scale. Notwithstanding the unique opportunities its status provides, CIT has trained an impressive 25,000-plus students and delivered just over 6.5 million training hours, and they should be congratulated on that.
It is no secret that I have been critical of management and its handling of allegations of bullying and workplace harassment and discrimination. I remain sceptical of the process that was followed, despite all the efforts of the minister and the commissioner to convince me of the fairness of the investigation. However, sadly and more importantly, it is not me that needs convincing; we still have many former CIT staff who feel aggrieved and not listened to, and I know they will not give up until they
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