State Budget

The Hon. S.C. MULLIGHAN (Lee) (14:32): My question is to the Premier. Can the Premier explain why his government is borrowing an extra $2.3 million each and every day for the next four years?

The Hon. S.S. MARSHALL (Dunstan—Premier) (14:32): We believe in the people of South Australia. We want to grow our economy. I think the cost of capital at the moment is about the lowest it has been in the history of the world, and so when there is an opportunity—

Members interjecting:

The SPEAKER: Order!

The Hon. S.S. MARSHALL: —to invest in productive infrastructure that is going to—

Members interjecting:

The Hon. S.S. MARSHALL: If those opposite would pipe down and listen about the budget, maybe they would learn just a little bit. The reality is that the cost of capital at the moment is extraordinarily low against any historical comparison. If those opposite want to chortle and present some other compelling evidence from the last 50 or 60 years, do it. Come forward and provide that opportunity for the house. We would love to have a lesson on economics from those opposite.

The cost of capital is extraordinarily low at the moment. Those opposite failed to invest in the productive infrastructure of our state. I would put it to you, and I would put it to this house, that that held back the productivity capacity of our state. I know exactly and precisely how they went about making capital investment decisions: pet projects, marginal seats and electoral cycles. That is what it was all about: pet projects, marginal seats and electoral cycles. That's their mantra. Well, it's not our mantra.

Members interjecting:

The SPEAKER: Order!

The Hon. S.S. MARSHALL: That's why we are doing everything we can to make sensible decisions to improve the productive capacity of our state. That's why we are advocating to establish an independent body, Infrastructure SA, to develop a long-range productive infrastructure plan for our state. We're very proud of that. We want to have independent scrutiny of the investment decisions that are made on behalf of the taxpayers in South Australia. We think that by doing that we will get better decisions in South Australia, but we couldn't wait for that to be established.

As you will see in the budget, despite what those opposite were bleating about—all the way through the lead-up to the election, it was going to be this valley of death in terms of infrastructure in South Australia but, gee, they got that one wrong—it's a significant reinvestment in South Australia because we are backing South Australia, and they hate it. They absolutely hate that the new government is backing the people of South Australia. We don't accept that our young people should give up hope of living in South Australia and getting a decent job—no way. We do not accept that. Those opposite accepted it year after year after year.

The Hon. S.C. Mullighan interjecting:

The SPEAKER: The member for Lee can depart under 137A for half an hour.

The honourable member for Lee having withdrawn from the chamber:

The Hon. S.S. MARSHALL: Thousands of South Australians gave up hope under the previous regime. We saw thousands of people leaving South Australia each and every year, not because they didn't love this state. This is a great state, but it was let down by a poor government. That's why the people of South Australia cast their no-confidence motion in those opposite in the election that was held on 17 March. We are very proud of our budget. We are particularly proud of the investment that we are making: roads—very important projects—hospitals, schools. These are the projects that will make sure that we reach our full potential as a state.