Legislative Council Fifty-First Parliament, Third Session (51-3) 51 3 Parliament of South Australia Legislative Council published Question Time Planning and Development Report PLANNING AND DEVELOPMENT REPORT The Hon. D.W. RIDGWAY Legislative Council Leader of the Opposition PLANNING AND DEVELOPMENT REPORT The Hon. D.W. RIDGWAY (Leader of the Opposition) (14:42): I have a supplementary question. Given the changes with the current economic climate, is the government still confident of achieving these savings or benefits to our economy? The Hon. P. HOLLOWAY Legislative Council Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business PLANNING AND DEVELOPMENT REPORT The Hon. P. HOLLOWAY (Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business) (14:42): Regardless of what the figure is, I can say unequivocally that there will be enormous savings. I think it was up to $5 billion; the exact amount was something in the range of $3.6 billion to $4.9 billion over five years. In the current economic climate one would expect a slowing in the amount of construction—even though South Australia was, I believe, the only state in Australia that had an increase in housing construction relative to the year before, according to the most recent figures (I think it was for October). So this state is, in fact, holding up better than most other parts of the country—or the world, for that matter. Nonetheless, one can expect a slowing in housing starts along with the credit crunch now facing the world. So, yes, if there are fewer developments going ahead then I guess the savings will inevitably fall in the short term. However, sooner or later—and one would hope sooner—as the economy and the housing industry pick up, those benefits will be derived; they will be there forever. Saving six to 12 months in assessment time for a residential dwelling is a very significant saving to the individual householder who has that property or block of land. If you have to hold it for 12 months there are significant associated costs, so there will be benefits there if you can save that. With a slow-down there might be fewer people to help in the short term, but in the long term those benefits will be delivered.