Ms FINOCCHIARO - 2012-11-27
You have just told Territorians the Leader of the Opposition and former Treasurer was told, by way of a letter from the Chairman of the Power and Water Corporation in April 2011, that:
Can you confirm that the Power and Water Corporation Board members felt exposed and concerned about their legal position?
ANSWER
Madam Speaker, I thank the member for Drysdale for her question. Yes, the board members of the Power and Water Corporation felt extremely exposed. In the last sittings of parliament I tabled a letter from the former Treasurer, now Leader of the Opposition, to the chairman of the board, Ms Judith King, dated 28 April 2011.
In this letter she said:
Something we are yet to uncover from the former government. She then said:
The board members were frightened, fearful, concerned and anxious about the position the former government had placed them in. The former government, the former portfolio minister for the Power and Water Corporation, placed these board members in a very serious high-risk situation through her mismanagement of the Power and Water Corporation over many years. One integral part of this equation was the need to increase the tariffs of electricity, sewerage and water at a rate which meant the corporation could achieve some level of sustainability, and that is where they failed.
The former Treasurer, who whines, bleats and tries to pretend it is our fault knows full well she had every opportunity to make this situation good. She had every opportunity to put Power and Water in a situation which was not draining the coffers ...
Madam SPEAKER: Minister, your time has expired.
- ... the Corporation is not financially sustainable ...
Can you confirm that the Power and Water Corporation Board members felt exposed and concerned about their legal position?
ANSWER
Madam Speaker, I thank the member for Drysdale for her question. Yes, the board members of the Power and Water Corporation felt extremely exposed. In the last sittings of parliament I tabled a letter from the former Treasurer, now Leader of the Opposition, to the chairman of the board, Ms Judith King, dated 28 April 2011.
In this letter she said:
- The 2011-12 SCI highlights that financial sustainability for the corporation remains a significant challenge and will require a combination of increased cost recovery from tariffs and Community Service Obligation (CSO) payments together with prudent and effective management of capital and operational expenditure.
Something we are yet to uncover from the former government. She then said:
- ... the Corporation may be considered as being in a financially unsustainable position and this may have implications for directors’ liability.
The board members were frightened, fearful, concerned and anxious about the position the former government had placed them in. The former government, the former portfolio minister for the Power and Water Corporation, placed these board members in a very serious high-risk situation through her mismanagement of the Power and Water Corporation over many years. One integral part of this equation was the need to increase the tariffs of electricity, sewerage and water at a rate which meant the corporation could achieve some level of sustainability, and that is where they failed.
The former Treasurer, who whines, bleats and tries to pretend it is our fault knows full well she had every opportunity to make this situation good. She had every opportunity to put Power and Water in a situation which was not draining the coffers ...
Madam SPEAKER: Minister, your time has expired.
Last updated: 09 Aug 2016