WORKCOVER CORPORATION

Dr McFETRIDGE (Morphett) (16:40): My question to the Minister for Industrial Relations. What has been the impact of stock exchange losses and the subprime mortgage crisis on WorkCover's operating revenue? WorkCover's annual revenues have been propped up by investment incomes from its $1.3 billion investment fund. Last financial year, it delivered a revenue of $168 million. WorkCover's annual report reveals that the fund's $1.37 billion includes $308 million in securities on the Australian Stock Exchange, $311 million in overseas stock exchange securities and $316 million in unlisted property unit trusts.

The Hon. M.J. WRIGHT (Lee—Minister for Industrial Relations, Minister for Finance, Minister for Government Enterprises, Minister for Recreation, Sport and Racing) (16:40): Investments have been an important component of revenue for WorkCover. The preliminary advice that I have received is that it has not been adversely affected to any large extent.