State Economy

Ms SAVVAS (Newland) (15:04): My question is to the Treasurer. Can the Treasurer update the house on the South Australian economy?

The Hon. S.C. MULLIGHAN (Lee—Treasurer) (15:04): I can, Mr Speaker. It gives me great pleasure to update the house on the most recent economic growth figures that were released last week. They showed that South Australia's economy was the fastest growing of all states in the nation in the most recent financial year, the 2022-23 financial year, the first full financial year under the Malinauskas Labor government—the fastest growing state in the nation. It is well above the national average: we grew at 3.8 per cent; the nation only grew at 3 per cent.

Remarkably, while the state did record some strong growth figures after the recession that the state suffered in the 2019-20 financial year, there were some strong growth figures in the following two years largely driven by record crop production and record government expenditure levels. Of course, the federal stimulus—

Mr Cowdrey: What would you have done differently, Stephen, over that period?

The Hon. S.C. MULLIGHAN: —particularly impacting the housing construction industry. The member for Colton says, 'What would I know?' Well, he should listen.

Mr Cowdrey: I didn't say that at all.

The Hon. S.C. MULLIGHAN: He should listen and he might learn something.

Members interjecting:

The SPEAKER: Order! There is a point of order from the member for Colton.

Mr COWDREY: I ask that the member apologise and withdraw. I did not make that comment.

Members interjecting:

The SPEAKER: Order! The standard is a subjective one, highly subjective, and the Treasurer may choose to withdraw and apologise. I also—

The Hon. S.C. MULLIGHAN: Am I being asked to withdraw for mishearing an unparliamentary interjection, Mr Speaker?

Members interjecting:

The SPEAKER: Order!

Members interjecting:

The SPEAKER: Treasurer, you will direct your remarks through the Chair.

Members interjecting:

The SPEAKER: Order! Treasurer, you will appreciate that it has long been held that the standard is subjective, and it may be that you would choose now, for practical reasons, to withdraw and apologise. I would, given the volume of interjections and the earlier preceding interjection, grant you an additional 20 seconds, contrary to the house.

The Hon. S.C. MULLIGHAN: Thank you, Mr Speaker, you guide me well. I withdraw and apologise. I recognise the delicate constitution of the member for Colton—

Members interjecting:

The SPEAKER: Order!

The Hon. S.C. MULLIGHAN: —and I withdraw wholeheartedly and apologise—

The SPEAKER: That is unnecessary.

The Hon. S.C. MULLIGHAN: —because I don't want to do him any offence.

Members interjecting:

The SPEAKER: Order! Treasurer, it is sufficient to withdraw and apologise without additional remarks. The Treasurer has the call.

The Hon. S.C. MULLIGHAN: I withdraw and apologise to the member for Colton.

The SPEAKER: That is enough. The Treasurer has the call.

The Hon. S.C. MULLIGHAN: If we are all okay, we will carry on because this is good news—

Members interjecting:

The SPEAKER: Order!

The Hon. S.C. MULLIGHAN: —3.8 per cent—

The SPEAKER: The member for Hammond is warned!

The Hon. S.C. MULLIGHAN: —the highest of all the states in the nation—

Members interjecting:

The SPEAKER: Member for Flinders, member for Chaffey!

The Hon. S.C. MULLIGHAN: —and doesn't it drive them crazy, Mr Speaker?

Members interjecting:

The SPEAKER: Member for Florey, order!

The Hon. S.C. MULLIGHAN: Doesn't it drive them crazy to hear the good news?

Members interjecting:

The SPEAKER: Order! The member for Chaffey is warned for a final time.

The Hon. S.C. MULLIGHAN: For the benefit of those opposite—if they are not interjecting and getting sensitive about the repercussions of that—what was this latest figure driven by? Well, the fastest growing industry was accommodation and food services, 16.9 per cent, and then followed up with 15.8 per cent growth for household consumption in hotels—

Mr Cowdrey interjecting:

The SPEAKER: The member for Colton is warned!

The Hon. S.C. MULLIGHAN: —cafes and restaurants. Do you know why?

Mr Cowdrey interjecting:

The SPEAKER: The member for Colton, you are warned for a final time.

The Hon. S.C. MULLIGHAN: Because we have had the best year we have ever had for major events in this state—the best year. So, while those opposite celebrated the cancellation of the Adelaide 500—

Members interjecting:

The SPEAKER: Order! The member for Chaffey is on a final warning!

The Hon. S.C. MULLIGHAN: —and they replaced it with Barossa Contemporary: Festival for the Curious that no-one was curious about—

Ms Savvas interjecting:

The SPEAKER: Member for Newland!

The Hon. S.C. MULLIGHAN: —when 25,000 people per day turn up for lift-off—

Mr Whetstone interjecting:

The SPEAKER: Member for Chaffey!

The Hon. S.C. MULLIGHAN: —when 260,000 people turn up at the Adelaide 500—

Mr Cowdrey interjecting:

The SPEAKER: Member for Colton!

The Hon. S.C. MULLIGHAN: —it means our economy is booming.

Ms Savvas interjecting:

The SPEAKER: Member for Newland!

The Hon. S.C. MULLIGHAN: Our economy is booming. There are record tourism figures and, for the benefit of the member for Chaffey, there is a huge boom in the number of international students coming to South Australia. So, unlike when those opposite were in government, when they drove the economic growth down—it was 2.2 per cent in 2017-18, they drove it down to 1.2 per cent, then they drove it down to 1 per cent, and then they drove it down into a recession—now our economy is performing strongly.

Members interjecting:

The SPEAKER: Member for Colton! The member for Hammond is warned.

The Hon. S.C. MULLIGHAN: It is because we have a government that backs in this economy. We invest in the economy and the economy is doing well.

Members interjecting:

The SPEAKER: The member for Colton is warned for a final time.

The Hon. S.C. MULLIGHAN: We committed to no new taxes because we saw how damaging their unannounced—

Mr Whetstone: Line up another glass of chardonnay.

The SPEAKER: The member for Chaffey is on a final warning.

The Hon. S.C. MULLIGHAN: —land tax increases were, and how much it punished the business community.

Members interjecting:

The SPEAKER: Member for Florey!

The Hon. S.C. MULLIGHAN: We back business in this government. We support the state's economy.

Members interjecting:

The SPEAKER: Order!

The Hon. S.C. MULLIGHAN: We stand up for those and the results speak for themselves, member for Colton—the results speak for themselves.

Members interjecting:

The SPEAKER: Order! The member for Chaffey, the member for Colton and the member for Florey are on final warnings. The member for Hammond has entered the race, also on a final warning.