Mr MILLS - 2008-05-08
In this year’s budget you received a $330m windfall. Despite that massive surge in unanticipated revenue, you committed just $20m to covering the Territory’s future superannuation liability. At a rate of $20m a year, it will take 125 years to cover your future superannuation liability. How does rampant spending today impact on future generations?
ANSWER
Madam Speaker, the Leader of the Opposition’s question really is nonsensical. I indicated that we have put $20m into the Conditions of Service Reserve …
Mr Mills: Lost $32m.
Ms LAWRIE: I indicated in the Budget Papers, and it is certainly there, that we put $20m into the Conditions of Service Reserve …
Mr Mills: Lost $32m.
Ms LAWRIE: I will keep repeating it if you want me to or you can listen to the answer. As I indicated in the Budget Papers and in my speech, I put $20m into the Conditions of Service Reserve. That is towards the future superannuation liability but, as I explained yesterday, this will start to impact at around 2018 to 2023. Previously, the government put $150m into that and, depending on where we arrive at the actuals, if I am in a position to put more into that, I will.
We are not going to track at $20m a year necessarily. What we are doing is ensuring that our budgets are in surplus. They have been in surplus for five years in a row now and, for the first time, we are predicting surpluses through the future years. Fundamentally and foremost, is having surplus budgets.
Mr Mills interjecting.
Ms LAWRIE: The CLP created deficit budgets, and they were not just small deficits, they were sizable deficits. They sent us backwards. Every deficit you have, you have liability to pay, and you have increased debt. We inherited debt to employment liability ratio to revenue of about 134% from the CLP. It is declining. He is misleading by saying it is blowing out; we are actually trending down, we are reducing our nett debt. Understand the figures in the Budget Papers.
ANSWER
Madam Speaker, the Leader of the Opposition’s question really is nonsensical. I indicated that we have put $20m into the Conditions of Service Reserve …
Mr Mills: Lost $32m.
Ms LAWRIE: I indicated in the Budget Papers, and it is certainly there, that we put $20m into the Conditions of Service Reserve …
Mr Mills: Lost $32m.
Ms LAWRIE: I will keep repeating it if you want me to or you can listen to the answer. As I indicated in the Budget Papers and in my speech, I put $20m into the Conditions of Service Reserve. That is towards the future superannuation liability but, as I explained yesterday, this will start to impact at around 2018 to 2023. Previously, the government put $150m into that and, depending on where we arrive at the actuals, if I am in a position to put more into that, I will.
We are not going to track at $20m a year necessarily. What we are doing is ensuring that our budgets are in surplus. They have been in surplus for five years in a row now and, for the first time, we are predicting surpluses through the future years. Fundamentally and foremost, is having surplus budgets.
Mr Mills interjecting.
Ms LAWRIE: The CLP created deficit budgets, and they were not just small deficits, they were sizable deficits. They sent us backwards. Every deficit you have, you have liability to pay, and you have increased debt. We inherited debt to employment liability ratio to revenue of about 134% from the CLP. It is declining. He is misleading by saying it is blowing out; we are actually trending down, we are reducing our nett debt. Understand the figures in the Budget Papers.
Last updated: 09 Aug 2016