Question Time

BUSINESS INVESTMENT

Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (14:19): My question is to the Premier. What new fiscal action will the state government take to protect jobs from the present downturn in business investment, which is supported by ABS information released today confirming that export growth in South Australia in the past year has been the lowest of all mainland states? In response to national account figures showing a 14 per cent slump in South Australia's business investment, the Treasurer told the house yesterday:

The quarterly state final demand figure is disappointing, but we have an economy that is measured through the course of the financial year.

However, the ANZ Bank said yesterday, referring to South Australia and New South Wales business investment over the course of the coming year:

With non-residential building approvals weak in both these regions, we expect investment to become a bigger drag on growth in these states over 2009.

The ABS also confirmed today that, in the past 12 months, export growth in South Australia was the lowest of all mainland states at 6.6 per cent, whilst national growth was 34.2 per cent.

The Hon. M.D. RANN (Ramsay—Premier, Minister for Economic Development, Minister for Social Inclusion, Minister for the Arts, Minister for Sustainability and Climate Change) (14:20): What part of the global financial crisis doesn't this Leader of the Opposition understand? We know about the scene in his office. For 19 months in a row, at 11 o'clock on a Thursday, we know that the Leader of the Opposition wrung his hands in despair when we broke every single jobs growth record in this state's history. He did not like the fact that we had 10 times the mining exploration rate of the past—a 10-fold increase under us—because you are anti-mining. You believe that mining—particularly uranium mining—is some kind of 'mirage in the desert'. You did not like it on the day when I got a phone call saying, 'And the winner is South Australia'—with the biggest defence project in Australian history.

Basically, you are not on South Australia's side. So, what is your economic solution? What is your vision for this state? Your vision is a stadium. It is a vision that you borrowed, because you were told, 'If you come out and back the stadium, we'll back you. If you address the State Press Club, we'll put you on the front page, and maybe 4 and 5.' Of course, we still have not seen the story yet—or, at least, I have not seen it—about the Western Australian Liberal Premier cancelling their stadium because he wanted to concentrate on the priorities—the fundamentals—of health, education, schools, and so on.

So, while you flounder around—we have seen your hospital: it is like an ambulance on wheels going from every site around town. You have no vision for this state, and you do not even support us when we are winning. You are going to put your colleagues in another state in a headlock. Today, you criticised and carped about a High Court challenge—

Ms CHAPMAN: Point of order, Mr Speaker.

The Hon. M.D. RANN: —but you will not take on your counterpart in Queensland.

The SPEAKER: Order! The Deputy Leader has a point of order.

Ms CHAPMAN: There is some opportunity for some licence to be given, but we have had about five minutes now of the Premier's rendition of what is happening everywhere else in the state except—

Members interjecting:

The SPEAKER: Order! The Premier is, I think, straying into debate. The member for Norwood.