Matter of Privilege

Matter of Privilege

The Hon. J.A.W. GARDNER (Morialta—Deputy Leader of the Opposition) (10:31): I rise on a matter of privilege. On Wednesday 8 February, the member for Light asked the Treasurer to provide the house with an update on the South Australian economy. The member for Hartley followed up with a question to ask the Treasurer to clarify South Australia's credit rating, to which the Treasurer replied as follows:

The member for Hartley asks about the state's credit rating…which, of course, was downgraded under the watch of the former Treasurer, Rob Lucas. That's right—downgraded.

This information, however, seems to be contradicted by evidence given to the council's Budget and Finance Committee by his own department, according to the transcript of the meeting on 13 February that was released late yesterday. Starting on page 348, the Chair is recorded as asking, 'Was the credit rating downgraded during the period of the last government?' A department officer replied, 'Standard & Poor's had put us on negative outlook, but the rating hasn't been downgraded.'

The Chair went on to ask, 'Are their concerns that the credit rating is likely to change?' The Under Treasurer replied:

Well, a negative outlook means that they are watching the jurisdiction in respect of our ability to keep our metrics in strong shape, but our experience in meeting with the agencies on the recent trip to the US was that that is largely a global phenomenon due to global economic headwinds.

To remind the house, South Australia maintained its credit rating in the midst of a global pandemic even when New South Wales and Victoria lost theirs.

Further, in contrast to what the Treasurer claimed, South Australia's credit rating was in fact not downgraded at any time under the former government. Instead, research provided to the opposition, which I am happy to provide to the Speaker, advises in relation to credit ratings from Moody's, Standard & Poor's and Fitch that South Australia's credit rating was downgraded on the following dates: September 2013, September 2012, April 1992 and February 1991.

It would appear that South Australia's credit rating has only ever been downgraded under Labor, and the Treasurer would know this. He would recall that he was working on state budget development and economic and policy advice as the deputy chief of staff to the then Premier when the last rating was downgraded by Fitch Ratings in 2013. It appears clear, therefore, that the statement of claimed fact in the Treasurer's answer from 8 February clearly and directly contradicts (a) information provided to the parliament by departmental officials and (b) the official credit ratings record.

In the nearly two weeks since then, the Treasurer has made no attempt, as far as I can see, to correct the record, despite the fact that public comments from his department and reflection on his proximity to events in 2013 and earlier should have drawn his attention to the possibility that his answer was incorrect.

In his attempt to disparage the economic record of the former government, I submit the Treasurer misled the house. He provided no qualification in his answer. He made no attempt to correct the record in almost two weeks, as far as I can see. I submit the Treasurer has deliberately and intentionally misled the House of Assembly and that a prima facie case exists for the establishment of a Privileges Committee. I ask that you give consideration to the matter of privilege and rule that a motion to establish a Privileges Committee should be given precedence over other business in the House of Assembly.

The SPEAKER: The member for Morialta raises a matter of privilege and I ask the member to furnish me with all materials as may be relevant and might assist in the determination of the matter. I also invite the Treasurer to furnish me with any materials that may assist in the determination of the matter. I reserve my decision on whether the matter raised could prima facie give rise to a matter of privilege.