CREDIT RATING

The Hon. I.F. EVANS (Davenport) (15:04): Does the Treasurer stand by his own target in his own state budget, handed down less than six months ago, and I quote: 'to ensure that risk to state finances are managed prudently to maintain a AAA credit rating'?

The Hon. J.J. SNELLING (Playford—Treasurer, Minister for Workers Rehabilitation, Minister for Defence Industries, Minister for Veterans' Affairs) (15:04): I do; nothing has changed. The simple fact is, though, that we are undergoing a significant reduction in revenues which will be spelt out in the Mid-Year Budget Review, and we are in a very difficult world economic climate. In that climate, retaining the AAA credit rating is going to be extremely challenging.