DISTINGUISHED VISITOR Wednesday, 25 March 1992 ASSEMBLY 383 Wednesday, 25 March 1992 aware. I ask the honourable member for Springvale to remain silent. Mr POPE (Minister for Labour) -On the point of order, Mc Speaker, if anyone noticed, the figure "30" The SPEAKER (Hon. Ken Coghill) took the chair at was still on the digital clock when the Leader of the 10.35 a.m. and read the prayer. Opposition jumped up on a point of order. The Treasurer had only just opened his mouth when the DISTINGUISHED VISITOR Leader of the Opposition jumped down his throat. It is an absolute disgrace. The SPEAKER - Order! Before commencing proceedings I welcome on behalf of members of the If this were a legitimate point of order one would be Legislative Assembly the Honourable Barry House, able to listen to it with a degree of understanding. a member of the Westem Australian Legislative The Treasurer had hardly opened his mouth before CowlCil, who is present in the public gallery. He is the point of order was called. Obviously there is no the guest of the honourable member for Ballarat point of order. North. The SPEAKER - Order! At this stage of the Treasurer's reply I do not uphold the point of order QUESTIONS WITHOUT NOTICE but I remind him that he must address the substance of the question and that he should not debate the matter. VICTORIAN EQUITY TRUST Mr A. J. SHEEHAN (Treasurer) - Thank you, Mr Speaker. It Mr KENNETf (Leader of the Opposition) - I was by way of replying to an refer the Treasurer to the assurance he gave at a interjection that I was making the point that there were conflicting statements from the shadow press conference on Monday regarding the Treasurer and the Leader of the Opposition with g~ven~ent's financial obligations in paying out its Vlctonan Equity Trust program, to the different regard to the opposition's attitude to the reserves of answers he gave in Parliament yesterday and to a statutory authority. One was mouthing a public subsequent comments by his spokesman that the campaign against them and saying quite dearly that Treasurer was confused. Which version of these he proposes to take them away; the other was saying three scenarios did Cabinet act upon? he would never do that. An honourable member interjected. Tuming to the question, and ignoring further interjections, I believe what I said in Parliament Mr A. J. SHEEHAN (Treasurer) - I am not yesterday was very clear, but I am happy to go over surprised you are confused! The honourable that in detail now. With respect to the payout of member for Brighton said on the radio this moming some $710 million to the Victorian Equity Trust, the statutory authorities will assume responsibility for that the opposition would not under any circumstances touch the reserves of the authorities. some $630 million of that amount. Mr KENNEIT (Leader of the Opposition) - On The other $80 million will be assumed by the govemment. The total effect of that - the $630 a point of order, Mc Speaker, the Treasurer is now debating the issue, which is not relevant to the million from the statutory authorities, which the authorities will pay by a mixture -- question. If the Treasurer is not prepared to answer the question, he should sit down. The question was quite specific. We have had three different Mr Kennett interjected. explanations from the Treasurer and the opposition believes Parliament and the public are entitled to Mr A. J. SHEEHAN - To take up the interjection of the Leader of the Opposition, that $630 million know on what scenario the Cabinet acted. from the statutory authorities will be paid for, Mr Micallef interjected. firstly, from their reserves and, secondly, from their borrowings. They are the two sources of funds for the statutory authorities. The SPEAKER - Order! The honourable member for Springvale is out of order, as he is well QUESTIONS WITHOUT NOTICE 384 ASSEMBLY Wednesday, 25 March 1992 The Budget sector responsibility for the $80 million To retum to the question: with regard to the will be a borrowing that will have an impact on next statutory authority mechanism for paying for VET, I year's Budget of approximately $8 million - or a reaffirm that that will come from a mixture of maximum of $8 million. reserves and new borrowings. That is the poSition I have consistently put in this place for the past two That is the situation I explained to the House days. yesterday over the course of four or five questions and responses, and I am happy to go through it GREAT SOUTHERN STAND again today. That is also the position I put to the press when I made the alU10W1cement on the Mr W ALSH (Albert Park) - Will the Premier Victorian Equity Trust. outline to the House the benefits to Victoria of the completion of the Great Southem Stand at the Mr McNAMARA (Leader of the National Melboume Cricket Ground? Party) - Given that at the latest reporting date the State Electricity Commission had short-term liquid Ms KIRNER (Premier) - Today everyone in assets of $41.2 million, the Gas and Fuel Victoria is celebrating the completion and handing Corporation, $10.8 million, and Melboume Water, over of the Great Southem Stand. $9.8 million, will the Treasurer explain whether the resultant shortfall of $568.2 million on the VET Mr Bildstien interjected. payout will simply become a new borrowing and thus add to the aggregate State debt? Ms KIRNER - The stand, which will officially be opened today, is located on a fitting site for a Mr A. J. SHEEHAN (Treasurer) - The figures world-class sporting event. Not only will the World the Leader of the National Party mentioned refer to Cup attract some 90 000 cricket lovers but the the cash assets of the authorities, not their reserves. television coverage will be beamed by satellite to 29 Furthermore -- cow1tries. Those people will be able to see what the Leader of the OppOSition is never prepared to Mr McNamara interjected. acknowledge, which is the rich asset base of our State. Mr A. J. SHEEHAN - There is a very considerable difference. I do not expect you to Under successful Leaders like Sir Henry Bolte, the w1derstand that, but there is. Secondly, and this has then Mr Hamer and the honourable member for been made very clear -- BW1doora Victoria has been prepared to invest in the future. Mr Stockdale interjected. The opposition is saying that -- Mr A. J. SHEEHAN - You talk about selling dams. We know you have committed yourself to Honourable members interjecting. selling all of the statutory authorities. The SPEAKER - Order! I ask the Premier to The SPEAKER - Order! I ask the Treasurer to pause while honourable members, including the address the Chair. honourable member for Springvale, come to order. Mr A. J. SHEEHAN - I was taking up the Ms KIRNER - The Leader of the Opposition is interjection of the honourable member for Brighton, implying in every comment he makes about the who has made it clear that if ever he were to become Budget management of the State that there should Treasurer he would sell all of Victoria's statutory be no investment in major capital facilities, no authorities, a course of action that I believe would be ongoing public investment and no public facilitation grossly irresponsible. of private sector investment. The Leader of the Opposition does not want the 19000 international The govemment's position is different from that. We World Cup visitors; he does not want the 37000 intend to put the statutory authorities on an efficient interstate visitors; he does not want the 1000 basis and to retain them in full public ownership. additional jobs that have been generated by the That is a substantial difference of view. project, and he certainly does not want to acknowledge that it has been built on time and below cost, because that would require -- QUESTIONS WITHOUT NOTICE Wednesday, 25 March 1992 ASSEMBLY 385 Honourable members interjecting. he wants to take is the risk that does no good, the risk of the superannuation quantum leap. He is not The SPEAKER - Order! There is far too much interested in the risk that delivers the public good. audible conversation from both sides of the Chamber. I know that the Leader of the OppOSition is disappointed -- Ms KIRNER - The honourable member for Hawthorn would have to acknowledge that the way Mr J. F. McGRATH (Warmambool)-Mr industrial relations was handled on that site was Speaker, my point of order deals with the Premier's first class, that the contribution of the Building debating of the question. In the interest of providing Workers Industrial Union of Australia was first class an adequate forum for question time as a time when and that it was facilitated by the Minister for Labour the accowltability of the government is questioned, I and our members on the Melbourne Cricket Ground point out that the Premier is now debating the Trust. question, and I ask you, Mr Speaker, to ask her to either round off or sit down. What we have today is due to the foresight of those people who were prepared to plan and invest in the Mr KENNAN (Attorney-General) - On the point future of Victoria. Thanks is due to the honourable of order, the question was: member for BWldoora, who we should be congratulating today. Will the Premier outline to the House the benefits to Victoria of the completion of the southern stand of the What does the opposition do? It does not have any MCG? sense-- We know this is an embarrassment to the opposition Honourable members interjecting.