Page 3979 - Week 13 - Tuesday, 25 November 2014
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MADAM SPEAKER: A supplementary question, Mr Smyth.
MR SMYTH: Treasurer, what is the government’s strategy for the reduction in the level of superannuation liability, and by how much will it decrease its superannuation liability this financial year?
MR BARR: It is unlikely to decrease in this financial year given that interest rates are unlikely to increase in this financial year. The government’s strategy around reducing the liability in the long term was to reduce our superannuation contribution from 15.4 per cent to nine per cent, plus a matching component. That was undertaken in 2006 and has had implications for the longer term liability. So the decision was taken in fact eight years ago to reduce that liability, and that is flowing through into the overall liability longer term.
MADAM SPEAKER: A supplementary question, Mr Wall.
MR WALL: Treasurer, how is it that the government made a 77 per cent investment gain on the year to date budget of $28.4 million?
MR BARR: The strong performance of our investments and the stock market performing above average.
MADAM SPEAKER: A supplementary question, Mr Wall.
MR WALL: Treasurer, how is it that, even with a 70 per cent increase in the gains, the year to date return on the investment was still $9 million lower than the year to date budget of $73.4 million?
MR BARR: It is always important to look at these things over the long run. Any quarterly performance is going to vary, of course, from one quarter to the other. I would advise the member opposite to have a look at the performance of our superannuation investments over the long run. We set a goal of CPI plus five per cent and we have been achieving that—in fact more than achieving that in recent times.
Calvary Health Care—health insurance
MR COE: My question is to the Minister for Health and it concerns recent Calvary group announcements about health insurance. Minister, the Calvary hospital group has made announcements about the possibility of terminating its contract with certain health insurance providers in a dispute concerning costs. Minister, what is the current situation regarding Calvary’s negotiations with these insurers?
MS GALLAGHER: It is not a matter that the ACT government is involved with in any way or has a role in. My understanding from the media release that both Calvary Health Care and the insurer group released was that they have put the dispute on hold pending further negotiations.
MADAM SPEAKER: Supplementary question, Mr Coe.
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