The Hon. RICK COLLESS: My question is directed to the Minister for Finance and Services. Will the Minister update the House on the outcomes of the Tamberlin report?

The Hon. GREG PEARCE: For members of this House—except perhaps the Hon. Walt Secord and the Hon. Eric Roozendaal—that report is one of the most anticipated reports of the new Government. The Liberals and The Nationals, the Christian Democratic Party, the Shooters and Fishers Party and The Greens have been keen to see this report. Unlike those opposite, all of those parties respect this place as a House of review. Those parties did not participate in the forced early shutdown of Parliament in order to hide the reality of the shabby deal that the then Premier and the then Treasurer imposed on this State in December last year.

I report to the House that on 31 October the Government received and released the Tamberlin report, the Special Commission of Inquiry into the Electricity Transactions. That report makes a number of recommendations to the Government about the future of the New South Wales electricity industry. Those recommendations include the sale or long-term lease of generation assets, the sale of development sites and the Cobbora mine, and that the Government make a decision about network business at a future point. The Government will consider the recommendations and respond to the report by Christmas. Interestingly, the report made some mention of Labor's sale of the Gentrader rights.

One of the outcomes of the report was the view that this was the "second best option". One might say that calling the Gentrader transaction the second best option is extremely diplomatic language. Let us remember that this sale was done as part of a late-night deal with Parliament being shut down to avoid any scrutiny whatsoever. Frank Sartor had a lot to say about how the Gentrader transaction was effected in his book The Fog on the Hill. I noticed that the Hon. Jeremy Buckingham was looking at the book earlier. The member was flicking through looking for photos.

The Hon. Eric Roozendaal: Point of order: The question was specific as to the outcomes of the Tamberlin inquiry. The Minister is referring to a book that has nothing to do with the Tamberlin report in any way, shape or form.

The PRESIDENT: Order! I invite the Minister to ignore the interjections and to continue with his answer.

The Hon. GREG PEARCE: In relation to the Gentrader transaction, Mr Sartor wrote at page 236:

The power sale, as ultimately implemented in NSW, would make an excellent study in Government 101. It was bad policy, very poor politics, and very poorly implemented. It was bad policy because the Gentrader model was flawed and bound to achieve an equivalent asset value of about 20-30% of the real value of the power stations. Put another way, we would be effectively selling our power stations for a discount of between 70% and 80%.

The Hon. Lynda Voltz: Point of order: The question was in regard to the Tamberlin report and its specific outcomes. The passage being quoted by the Minister is in direct contradiction to what the Tamberlin report says and is therefore not relevant to the question on the outcomes of the Tamberlin report.

The PRESIDENT: Order! The member will take a point of order, not make a debating point.

The Hon. GREG PEARCE: Various reports have been published—the Tamberlin report and the Auditor-General's report. Those reports show that the people of New South Wales were robbed when the previous Government undertook its transaction.

The Hon. Eric Roozendaal: Point of order: The Tamberlin inquiry clearly found good value for money and best practice.

The PRESIDENT: Order! The member is making a debating point; he is not taking a point of order. He will resume his seat.