STATE BUDGET

The Hon. I.F. EVANS (Davenport) (14:34): My question is to the Treasurer. As the government is budgeting to run deficits in 2012-13, 2013-14 and 2014-15, will the Treasurer now agree with himself and admit that the state is running up a credit card debt? Last year in June the Treasurer told the house in response to a question about running up credit card debt:

...the net operating balance returns to surplus by 2012-13 with a substantial surplus in 2014-15. While we are running a net operating balance deficit this year and next year, we are returning to surplus, and certainly it would be the case that if through the estimates period we were running recurrent net operating balance deficits we would certainly be running up a credit card debt...

The estimate period the Treasurer was talking about was 2011-12, 2012-13, 2013-14 and 2014-15. The surpluses the Treasurer budgeted for last year have not been achieved. The actual results are: 2011-12, a $284 million deficit; 2012-13, a $867 million deficit; 2013-14, a $778 million deficit; and 2014-15, a $15 million deficit. By the Treasurer's own admission, for the estimates period the Treasurer was talking about, the state was running up a credit card debt. Does the Treasurer agree with himself?

Members interjecting:

The SPEAKER: Order! That was a very lengthy explanation.

The Hon. J.J. SNELLING (Playford—Treasurer, Minister for Workers Rehabilitation, Minister for Defence Industries, Minister for Veterans' Affairs) (14:36): Yes, I do agree with myself.

Members interjecting:

The SPEAKER: Order!