MINING INDUSTRY

The Hon. I.F. EVANS (Davenport) (14:58): My question is to the Minister for Finance. Can the Minister for Finance explain why he thinks South Australia has effectively missed the mining boom?

The Hon. J.W. WEATHERILL (Cheltenham—Premier, Treasurer, Minister for State Development, Minister for the Public Sector, Minister for the Arts) (14:58): The government's position in relation to this matter is consistent. Different of us express ourselves in different ways, but the simple truth is this: the Reserve Bank, in March, have published an analysis about how they see the mining boom and how it has developed in this country. It has three phases: the first phase is the terms of trade price hike, the second phase is the investment phase and the third phase is the production phase.

The first of those phases is over. Some people call that the mining boom and that's certainly the characterisation that the Minister for Finance placed on it in his public remarks. I don't necessarily share that same analysis about that being the mining boom. I think the whole of it can fairly be described as the mining boom in this nation, and that's, I think, the generally accepted understanding.

Let's get to the gravamen of it. Leaving aside the question of what we call this, the central issue is that there is a heightened level of activity in the mining sector in this nation and, increasingly, in this state, and that's the issue that we address. The reason we need to address that issue is, one, we need to make sure we capture our fair share of it and, secondly, we need to make sure that the benefit we do capture is shared by more South Australians. So, that is why we describe one of our key priorities as realising the benefits of the mining boom for all South Australians.

That's the issue at stake. What's the challenge? Well, that same mining boom is driving up the Australian dollar. Now, it's doing that because of the relative prosperity of our nation in terms of our natural resources and the massive demands for those natural resources. But that is not all upside. Of course it's driving the economies of the resource states, but it's creating real dislocation in even those states and, certainly, in places like South Australia where there's a manufacturing industry that needs to actually trade with the world.

So, the essential issues are the same: that there is an extended, increased and heightened level of mining activity in the nation and increasingly in South Australia, and all of the policy options that flow from that are canvassed at length in our economic statement. Rather than simply play a bit of gotcha politics, which is the very thing that people are completely sick of about the way politics works, why don't you grapple with the real issues about the mining sector, about contributing some policy developments, about realising the benefits of the mining services sectors—all of those things that count—rather than trying to make some cheap point and trying to drive some difference between the language that is used by different minsters? Why don't you engage in decent public policy debate for once? Why don't you come up with a single positive idea for the future of this state?

Mr PISONI: Point of order; the Premier is debating.

The SPEAKER: The Premier has finished his answer and, if I anticipate the member for Unley's point of order, I think I would have upheld it.