❓ Mr. Wyatt questions the Treasurer on what constitutes an 'affordable' increase in ICWA (Insurance Commission of Western Australia) rates, linking it to the introduction of a dividend. The Treasurer defends a 4.5% increase and deflects by questioning Wyatt's stance on dividends from other utilities.
AnsweredQoN 254Legislative Assembly
QuestionView source ↗
INSURANCE
COMMISSION OF WESTERN AUSTRALIA — STATE REVENUE
254. Mr B.S. WYATT to the Treasurer:
I ask a supplementary question. Noting that the Treasurer will
not be providing that guarantee, what percentage increase would meet the
Treasurer's definition of ''affordable''?
COMMISSION OF WESTERN AUSTRALIA — STATE REVENUE
254. Mr B.S. WYATT to the Treasurer:
I ask a supplementary question. Noting that the Treasurer will
not be providing that guarantee, what percentage increase would meet the
Treasurer's definition of ''affordable''?
AnswerView source ↗
As I said, I expect it will be zero or minimal.
Mr B.S. Wyatt :
What is minimal? Is it at around the rate of inflation? Is that what it is?
What is it?
Mr T.R. BUSWELL : I
would anticipate that the rate this year of 4.5 per cent was a fair rate of
increase for that particular price, given the cost pressures that ICWA is
under. It is very, very simplistic to argue that introducing a dividend will
impact on price.
Mr B.S. Wyatt : Of
course it will.
Mr T.R. BUSWELL :
Okay. If that is the member's argument, why does he not suggest as a
policy position that we get rid of Western Power's dividend? That will
drive power prices down.
Mr B.S. Wyatt :
Because you have already spent it!
Mr T.R. BUSWELL :
It is because the member knows it will not happen. Why does he not suggest that
we get rid of the Water Corporation's dividend? That will drive water
prices down. It will not happen. It does not work like that. It is bit more
complicated than what goes on between your ears, my friend!
Mr B.S. Wyatt :
What is minimal? Is it at around the rate of inflation? Is that what it is?
What is it?
Mr T.R. BUSWELL : I
would anticipate that the rate this year of 4.5 per cent was a fair rate of
increase for that particular price, given the cost pressures that ICWA is
under. It is very, very simplistic to argue that introducing a dividend will
impact on price.
Mr B.S. Wyatt : Of
course it will.
Mr T.R. BUSWELL :
Okay. If that is the member's argument, why does he not suggest as a
policy position that we get rid of Western Power's dividend? That will
drive power prices down.
Mr B.S. Wyatt :
Because you have already spent it!
Mr T.R. BUSWELL :
It is because the member knows it will not happen. Why does he not suggest that
we get rid of the Water Corporation's dividend? That will drive water
prices down. It will not happen. It does not work like that. It is bit more
complicated than what goes on between your ears, my friend!
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