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Tuesday, 26 November 1985
Page: 2291

Senator WALSH (Minister for Finance and Acting Minister for Resources and Energy)(9.44) —I can only agree with most of what Senator Sir John Carrick has said. It has been demonstrated that investment in building retrofits has been extremely cost effective. From memory, capital pay-back periods are as short as 18 months. I think the planning for a program of retrofitting was done when Senator Sir John Carrick was the Minister responsible and it was continued in the two Budgets with which I was associated in the Department of Resources and Energy. In the present Budget, $1.5m has been appropriated in the estimates of the Department of Housing and Construction for the modification of Commonwealth buildings for energy conservation.