Torres
The regulatory reform – twenty years and according to Clapton, hundreds of millions of dollars – has had more starts than Phar Lap and appears to have again stalled.
According t0 CASA's own evidence to the Senate Inquiry (see page 120 of the transcript for 2 July 2008), CASA has spent at least $140 miilion dollars on the reform program
since 2002/03:
Mr Carmody—Looking under the outputs in our annual reporting, under the standards section we list the costs in the annual report from years 2002-03 through until now...... I am rounding, but it was $20 million in 2002-03, $25 million in 2003-04, $26 million in 2004-05, $24 million in 2005-06, $23 million in 2006-07 and there is an estimate in the PBS of $24 million for 2007-08. ........
Mr Carmody—My estimate is about $144 million. Our estimate for 2007-08 is $24 million; the costs for 2006-07 were $23 million. That equals $47 million out to the end of the financial year.
This is probably a conservative estimate and the figure is probably closer to $200 million if you take into account overseas trips, meetings, conferences etc. This is significantly more that even I figured as my $200 million was based on the last 10 years. Here CASA is saying it has spent $140 million in the last 5 years......and nothing to show (sorry, Part 137 has been made). But of course it is always someone else's fault - never CASA's.