Richard Colbeck (Tasmania, Liberal Party, Parliamentary Secretary to the Minister for Finance and Administration) Share this | Hansard source

I will make a couple of quick points to finalise. In relation to the Labor Party’s comments with respect to funding, the Australian government’s funding for VTE in 2006 will be $2.5 billion, which is an 85.2 per cent real increase on funding since 1996. The allegations obviously flow thick and fast in an attempt to put the Labor Party’s slanted view of the world, but the facts stand in stark contrast to that. Senator Wong does not appear to understand the difference between total commitments for funding agreements signed so far, which are in excess of $250 million, and cash flow. The commitments relate to funding until the end of 2009. The senator is suggesting we should be providing funding in advance instead of providing it in accordance with the agreed payment schedules. The funding is being provided to the institutions as the need arises, in accordance with good financial management practices. Up to $65 million will have been spent within the next few weeks.

Question agreed to.

Bill read a third time.