Question Time

Land Tax

Mr MALINAUSKAS (Croydon—Leader of the Opposition) (14:26): My question is to the Premier. Does the Premier's latest land tax bill provide a tax cut, or is it a revenue raising measure?

The Hon. S.S. MARSHALL (Dunstan—Premier) (14:27): I have explained this in the last answer. This is like a Dorothy Dixer, because every single day that we are talking about our economic reform agenda here in this chamber is a happy day as far as I am concerned. There is $70 million worth of land tax reduction over the next three years, $70 million worth of land tax revenue decrease over this year. Those opposite would hate it because they love taxes. They are addicted to taxes. They like inflicting them on the people who are trying to get ahead—

The SPEAKER: Premier, there is a point of order. Premier, be seated. Member for West Torrens, your point of order?

The Hon. A. KOUTSANTONIS: That is debate, sir.

The SPEAKER: Pretty close to debate, Premier. I ask you to come back to the substance of the question.

The Hon. S.S. MARSHALL: Yes, the substance of the question was, of course, about the massive reduction in land tax revenue that will come in. Some governments, maybe of another political persuasion, would hate this because they love taxing. We on this side want to ease that handbrake that those opposite inflicted upon the productive component of our economy for a long period of time.

We make no apologies that this is going to reduce revenue into our state coffers, but what it will simultaneously do is grow the size of our economy, grow investment into our economy, grow investment from South Australians reinvesting here in South Australia and bring investment dollars from interstate and overseas into South Australia. At 3.7 per cent, this is like kryptonite for people wanting to invest in our economy—it is like kryptonite. We are taking it from 3.7 per cent down to 2.4 per cent, and this will reduce revenue. It will reduce revenue in South Australia, but it will stimulate the economy. As you stimulate the economy, you create jobs, and this is exactly and precisely what our focus in government has been.

Mr Picton: I think you should stake your leadership on it.

The SPEAKER: The member for Kaurna is warned.

The Hon. S.S. MARSHALL: We are proud of the job creation that has occurred in South Australia. We now have record employment in South Australia and there is plenty more work to do. There is only one side in this debate that is up for complex reform and that is the government.