Senator KEMP (Assistant Treasurer)(5.11 p.m.) —I thank senators for their contributions and the general strong support the Payment of Tax Receipts (Victoria) Bill has received. I treasure the remark by Senator Sherry that this is `the government's good bill'. We welcome that, Senator Sherry. Thank you for the generous way in which you have expressed yourself.

Senator Bob Collins —Well, as President Clinton said, even a dumb pig will find an acorn every now and again.

The ACTING DEPUTY PRESIDENT (Senator West) —Senator Collins, order!

Senator KEMP —I do not think, Senator Collins, that I would have referred to Senator Sherry in that manner.

Senator Sherry —Madam Acting Deputy President, I raise a point of order. How dare Senator Collins refer to me in that manner. He should withdraw that disgraceful accusation.

The ACTING DEPUTY PRESIDENT —There is no point of order.

Senator KEMP —Once again, I strongly support the sentiments that Senator Sherry just expressed. This is an important bill. Quite a few people on this side and the other side of the chamber have been involved in debates on this issue—over five years, I think. We have had inquiries, and evidence has been given. It is great that this matter is to finally be resolved in a way which is satisfactory to all parties.

I do not think Senator Kernot would want me to comment at length on the remarks she made on competition policy. There will be another debate on those issues another day.

In relation to the matters that were raised by Senator Brown and Senator Margetts, Senator Brown was kind enough to read into the record a letter he had just received from the Victorian government. I thought it would provide him with the assurances he wanted, but that was not clear. After having got the assurances he sought from the Victorian government, he then tended, I think very unfairly, to dismiss them. He sought those assurances at the start of this debate, and they have been forthcoming.

From the Commonwealth's perspective, this bill essentially returns to Victoria certain windfall gains. Victorian gas utilities are subject to CSOs, which are funded from the Victorian budget. I am not aware that these CSOs have been changed by this settlement, and I do not think evidence has been produced to the contrary. That is a matter for the Victorian government, but no evidence has been produced in this debate that that situation has changed as a result of this settlement. I urge the speedy passage of this bill. This brings to an end a debate which has occupied this parliament for far too long.

Question put:

That the amendment (Senator Margetts's ) be agreed to.