Legislative Council: Tuesday, October 31, 2023


University Merger Funding

303 The Hon. S.L. GAME ().27 September 2023).

1. Does the South Australian government intend to borrow in full, or any part of, the finances required to fund the $300 million worth of perpetual funds promised as part of the merger of the University of Adelaide and the University of South Australia?

2. If so, will the interest payments on this loan be paid for by the returns on the two perpetual fund investments?

The Hon. K.J. MAHER (Minister for Aboriginal Affairs, Attorney-General, Minister for Industrial Relations and Public Sector): The Treasurer has advised:

1. The $320 million in funding required to establish the funds will be factored into the calculation of the government's overall borrowing requirements for the 2024-25 budget year. The government manages its borrowing program as a whole, not on an issue-by-issue basis.

2. Any returns achieved over and above the $320 million for the two funds in the future will be available solely for intended use of the funds, and not to reimburse the government for any costs incurred in establishing the funds.