?Igiaatinrp Asambtu Procedure Has Been Followed in This Case
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[Wednesday, 28 October 1981] 496346 by the Opposition and we accept that the normal ?igiaatinrp Asambtu procedure has been followed in this case. Wednesday, 28 October 1981 Question put and passed. COMMITT'EES FOR THE SESSION The SPEAKER (Mr Thompson) took the Membership Chair at 2.1$ p.m., and read prayers. SIR CHARLES COURT (Nedlands-Premier) DEPUTY CHAIRMEN OF COMMITTEES [2.19 p.m.]: I move- Discharge and Appointment (I) That the Member For Swan (Mr Skidmore) be discharged From THE SPEAKER (Mr Thompson): I have to membership of the Printing Committee inform the House that the member for Canning and the Member for Ascot (Mr Bryce) (Mr Bateman) has been discharged from his be appointed in his place. position as Deputy Chairman of Committees and (2) That the Leader of the Opposition (Mr the member for Welshpool (Mr Jamieson) has Brian Burke) be discharged from been appointed in his place for the balance of the membership of the Library Committee session. and the Member for Kalgoorlie (Mr I. F,. Taylor) be appointed in his place. MEMBERS OF PARLIAMENT: OFFICES OF Here again I record on behalf of the House its PROFIT appreciation to the two members concerned-in Joint Select Committee: Membership the case of the Printing Committee the member for Swan (Mr Skidmore), and in the case of the SIR CHARLES COURT (Nedlands-Premier) Library Committee the present Leader of the [2.17 pm.]: I move- Opposition (Mr Brian Burke). That the Member for Swan (Mr Question put and passed. Skidmore) be discharged from membership of the Joint Select Committee inquiring into PARLIAMENTARY SUPERANNUATION the law relating to Members of Parliament FUND holding Offices of Profit under the Crown and the Member for Welshpool (Mr Trustees Jamieson) be appointed in his place. SIR CHARLES COURT (Nedla nds-Premier) In referring to the three notices of motion [2.20 p.m.]: I move- standing in my name, I indicate the persons who That the Member for Collie (Mr T. H. are to replace the retiring members of the Jones) be discharged from his position as respective bodies are those nominated by the Trustee of the Superannuation Fund and the Leader of the Opposition, as is the custom in Member for Perth (Mr T. J. Burke) be cases such as this. I would like to record on behalf appointed in his place. of the House the appreciation of services rendered I would like to say that my fellow trustees of the by the member for Swan during his membership Parliamentary Superannuation Fund have on the Joint Select Committee. I must add that appreciated the contribution that has been made the wording we use is legally correct, but it is by the member for Collie. He has always harsh when we refer to members being approached his duties as trustee with great "discharged" from a committee. However, I thin k commitment and has, in my experience, always all members understand what it means: the sought to represent faithfully and fairly the views member has asked to be relieved of his of those who nominated him, This is an important responsibilities and a new person has been body and on occasions it calls for the trustees to appointed in his place. think as trustees rather than perhaps as direct MR BRIAN BURKE (Balcatta-Leader of the representatives of a particular party. I would like Opposition) [2.18 p.m.]: I add on behalf of the to record as chairman of trustees, my appreciation Opposition my personal thanks to the member for to the member for Collie. Swan for the job he has done on that committee MR BRIAN BURKE (Balcatta-Leader of the and to wish the people who have been appointed Opposition) [2.21 p.m.]: I would add to the to this and subsequent committees with which we Premier's remarks my full support and the full will deal the support of the Opposition. The support of the Parliamentary Labor Party and appointments are those advanced to the Premier record personally to the member for Collie my 4964 4964ASSEMBLY] appreciation of the excellent efforts he has year. Also, the unexpended balance of previous contributed to the workings of the committee as authorisations must be taken into account. trustee. I point out to the committee that we This action ensures continuity of works in appreciate and recognise his valuable services in progress pending the passage of next year's Loan this area. Bill and is in accordance with usual practice. Question put and passed. Details of the condition of the various loan authorities are set out in pages 42 to 45 of the SPEAKER OF THE PARLIAMENT Loan Estimates. These pages also show OF MALAYSIA information relating to the appropriation of loan Presence in the Speaker's Gallery repayments received in 1980-8 1; the allocation of Commonwealth general purpose capital grants: I would like THlE SPEAKER (Mr Thompson): and the distribution of $2.828 million transferred to draw attention to the presence in the Speaker's from the balance of earnings on the investment of Gallery of the Speaker of the Malaysian cash balances to 30 june 1981. Parliament. I extend a warm welcome to this, our Parliament, to you. Sir, on behalf of the members The main purpose of this Bill is to provide the of this Assembly. I hope you enjoy your stay necessary authority to raise loans to help finance white you are here. the State's capital works programme. As usual the required borrowings will be undertaken by the Members: Hear, hear! Commonwealth Government which acts for all States in arranging new borrowings, conversions, BILLS (3): INTRODUCTION AND renewals, and redemptions of existing loans. FIRST READING This function of the Commonwealth 1. Consumer Affairs Amendment Bill. Government is exercised under the terms of the 2. Motor Vehicle Dealers Amendment Bill. 1927 financial agreement and within the total Bills introduced, on motions by Mr borrowings programme for all States as O'Connor (Minister for Consumer determined by the Australian Loan Council. The Affairs, and read a first time. Loan Council also prescribes the terms and 3. St. Catherine's Hall, Greenough Bill. conditions attached to the loan raisings. Bill introduced, on motion by Mr Tubby, I t would be opportune here to inform members of the rather recent change in the means by which and read a first time. the Commonwealth undertakes borrowings on our behalf. LOAN HILL Traditionally these funds have been raised by Second Reading way of periodic public loans. However, in April 1980, the Commonwealth, with the agreement of SIR CHARLES COURT (Nedlands- the Loan Council, introduced a tap system for Treasurer) [2.26 p.m.]: I move- selling its bonds. Under this arrangement That the Bill be now read a second time. Commonwealth stock is now continually on issue Each year through a measure such as this. and borrowings are taken up throughout the year, authority is sought for the raising of loans to in contrast to the previous system of rather finance certain works and services as detailed in infrequent cash loans. the Estimates of Expenditure from the General This new system is designed to achieve a more Loan Fund as tabled on Thursday, 15 October. even flow of funds and avoid instability which has The Bill seeks to provide authority for the sometimes been generated in the past as a result raising of loans not exceeding $91 million for the of unusually large and concentrated loan raisings. purposes listed in the first schedule. It is also geared to react more keenly to market It may be noted by members that the borrowing conditions, by providing for ready adjustment of yields to match investor expectations. authority sought for each of the several works and services listed in the schedule will not necessarily In its first I8 months of operation the tap coincide with the estimated expenditure on that system has met with mixed success. With volatile item in the current year. This situallion arises interest levels internationally and uncertainty as because it is necessary to provide for sufficient to appropriate rates on the domestic scene, the borrowing authority to enable works of a system has been severely tested. continuing nature to be maintained for a period of I have some serious reservations regarding the about six months after the close of the financial manner in which the system has been managed to [Wednesday, 28 October 1981]196 4965 date and I have been successful in obtaining borrowing programme for the following agreement for a full review of its operations at the purposes- next meeting oftoan Council. $113.2 million to the State Energy Under a long-standing arrangement, the Commission for the Dampier to Perth gas Commonwealth Government from its own pipeline, Muja stage "D3", conversion or the resources, will subscribe any shortfall to complete Kwinana power station, and the Pilbara the financing of the overall borrowing programme region power integration projects: of the States. $1.6 million for country areas and town These special loans are made on terms and water supplies to provide water for the conditions similar to those prevailing (or the Worsley alumina project; previous Commonwealth public loans raised in Australia and are allocated to the States as part $1.6 million for the Industrial Lands of their normal borrowing allocation. Development Authority for works at .iervoise Bay; and This support is of great benefit to the States as it enables us to proceed with a planned $4.8 million for the Nickol Bay Hospital at programme of works secure in the knowledge that Karratha. the Full Loan Council allocation will be Details of the borrowing programme of larger forthcoming.