Mr MILLS - 2008-05-06
According to you, good management does not happen by accident, but I notice that you have lost $32m from the Conditions of Service Reserve. Was losing $32m on the stock market an accident, or did you do it deliberately?
ANSWER
Madam Speaker, I thank the Leader of the Opposition for his question. It just goes to show his absolute ignorance of what is occurring around the economies of our nation and internationally in the market.
The Conditions of Service Reserve has actually performed extremely well, despite the volatility in the market sector. This is because most of our Conditions of Service are put into the long-term marketplace rather than short term, where we see more results coming through. I feel very confident in the decisions taken by our experts in Treasury, and also the scrutiny of those decisions that are applied to, to ensure that they are managing our Conditions of Service Reserve extremely well. This government has shown a track record of ensuring that we are meeting our liabilities into the future by also putting funding into the Conditions of Service Reserve to meet ongoing superannuation liabilities and to fund our infrastructure needs into the future.
ANSWER
Madam Speaker, I thank the Leader of the Opposition for his question. It just goes to show his absolute ignorance of what is occurring around the economies of our nation and internationally in the market.
The Conditions of Service Reserve has actually performed extremely well, despite the volatility in the market sector. This is because most of our Conditions of Service are put into the long-term marketplace rather than short term, where we see more results coming through. I feel very confident in the decisions taken by our experts in Treasury, and also the scrutiny of those decisions that are applied to, to ensure that they are managing our Conditions of Service Reserve extremely well. This government has shown a track record of ensuring that we are meeting our liabilities into the future by also putting funding into the Conditions of Service Reserve to meet ongoing superannuation liabilities and to fund our infrastructure needs into the future.
Last updated: 09 Aug 2016