Investment and Trade Initiatives

The Hon. P. CAICA (Colton) (14:35): My question is to the Minister for Investment and Trade. Can the minister provide advice on the government's commitments to trade investment for South Australia?

The Hon. M.L.J. HAMILTON-SMITH (Waite—Minister for Investment and Trade, Minister for Small Business, Minister for Defence Industries, Minister for Veterans' Affairs) (14:35): I thank the member for his question. Like me, he would be very concerned about misinformation out there that points to the negative rather than the positive on investment and trade. The South Australian government is committed to supporting and growing the state's trade and investment program—

The Hon. J.M. Rankine interjecting:

The SPEAKER: The member for Wright is called to order.

The Hon. M.L.J. HAMILTON-SMITH: Official data shows around 65,000 jobs relate to exports, and we aim to increase that number. In this year's budget we allocated $19.4 million towards trade and investment.

The Hon. A. Koutsantonis: Hear, hear!

The Hon. M.L.J. HAMILTON-SMITH: It is good to hear the Treasurer saying, 'Hear, hear!' I might get some more out of him next year. I'll do my best. This commitment included establishing the Investment Attraction Agency to drive investment opportunities with the potential to transform our economy. As part of the Mid-Year Budget Review, the Treasurer announced an additional $10 million to boost exports and jobs and $1.7 million extra for the Export Partnership Program.

But some factually incorrect claims have been made by both the shadow minister for investment and trade and the opposition leader that this government—they claim—has slashed export stimulation funding from $30 million to $19 million. I can assure the house that this is not the case. Under this government, the allocation of funding has grown year on year from $9.8 million in 2011-12 to $19.3 million in 2015-16. Anyone who could read the budget papers properly could establish that fact, so where does the often quoted $30 million figure come from?

Ms Chapman interjecting:

The SPEAKER: The deputy leader is warned for the second and final time.

The Hon. M.L.J. HAMILTON-SMITH: It appears just once, in the 2011-12 Mid-Year Budget Review, reflecting grants paid through the renewable energy fund which had originally appeared in the Department of the Premier and Cabinet budget line in the 2011-12 budget. Those who know how to read a budget paper would have noticed that it was a one-off unusually high figure, because they would have read the explanatory note saying in plain English that $11.7 million was for the renewable energy fund and that it was being removed from that budget line. The explanation appeared again, in case they missed it, on page 88 of Volume 3 of the 2012-13 budget agency statements. There it was in black and white, not once but twice.

Yet, the member for Dunstan—the Leader of the Opposition, who wants to be the Premier—touted the $30 million figure yet again in his media release on 4 June, and his shadow minister for investment and trade repeats it often. The leader stated that, since 2011-12, Labor has slashed funding for the main state government program aimed at stimulating exports from $30 million to $19 million when, in fact, anyone who could read a budget paper knows that is factually untrue and not correct.

We need a shadow minister and a Leader of the Opposition who can read a budget paper. The only way you could describe it is 'wok-in-a-box economics'. It is wok-in-a-box economics from a Leader of the Opposition who cannot read a budget paper and gets his facts wrong and a shadow minister who can't count. For heaven's sake! And they want to be called an alternative government. Heaven help us.