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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2008-09-10 Daily Xml
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MITSUBISHI MOTORS

Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (15:21): As a supplementary question, in light of the Treasurer's reply, why was the $35 million of unspent funding not declared by the Treasurer as part of the budget surplus?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations) (15:21): It is not part of the budget surplus. You do not understand financial accounting.

Mr Hamilton-Smith: You've socked it away.

The Hon. K.O. FOLEY: I've socked it away? Yes; I have put it into a company that will bid to buy the land at Tonsley Park.

Mr Hamilton-Smith interjecting:

The SPEAKER: Order!

The Hon. K.O. FOLEY: I just said that, if I bring it back because we do not, we will spend that money on other infrastructure in the south.

Mr Hamilton-Smith interjecting:

The SPEAKER: The Leader of the Opposition will come to order!

Mr Hamilton-Smith interjecting:

The Hon. K.O. FOLEY: It is not a surplus; we are spending it. We are going to spend it, Marty. Surplus is the money you do not spend.

Members interjecting:

The SPEAKER: Order, the Leader of the Opposition!

Mr Hamilton-Smith: The Auditor-General's going to have a field day.

The Hon. K.O. FOLEY: The Auditor-General's going to have a field day. Yes, righty-oh; let's wait and see on that one.

Mr Hamilton-Smith interjecting:

The Hon. K.O. FOLEY: I will let you into a little secret: we actually gave Mitsubishi the $35 million; that was an expense. We get $35 million back, and until we allocate it—

Ms Chapman interjecting:

The SPEAKER: The deputy leader!

The Hon. K.O. FOLEY: We did disclose it; that is how you got the question.

Ms Chapman interjecting:

The SPEAKER: The Deputy Leader of the Opposition!

Ms Chapman interjecting:

The Hon. K.O. FOLEY: That's how you got the question.

Mr Hamilton-Smith interjecting:

The Hon. K.O. FOLEY: Am I really?

The SPEAKER: The Leader of the Opposition will come to order!

The Hon. K.O. FOLEY: Honestly, that is a pathetic effort by the opposition, if that is the best you can do. I put it into an account because—

Ms Chapman: You don't know where it is.

The Hon. K.O. FOLEY: What do you mean, 'I don't know where it is'? I just told you where it is. I did it. It was my decision: guilty. On advice from Treasury, I might add. What is the issue? What else are we going to do with it? I guess we could not have transferred it to the Land Management Corporation. What would we have done then? Then, next financial year when you spend it—

Members interjecting:

The Hon. K.O. FOLEY: Kate Lennon? Do you accept that the Land Management Corporation is the right entity to purchase the Mitsubishi site? I actually think it is the right entity. We have said that that money will be used for infrastructure provision and industrial capability on land in the south, so that money, quite appropriately, had to sit somewhere.

Ms Chapman: In a hollow log.

The Hon. K.O. FOLEY: Hollow log? For goodness sake, its accounts are published. It gives an annual report; it is in the budget; it is audited.

Ms Chapman: A year later—

The SPEAKER: The Deputy Leader of the Opposition!

The Hon. K.O. FOLEY: A year later? It is in the budget papers. They are getting me frustrated already, sir. I should not have to put up with this very poor questioning. After seven years you would expect that they would be a bit better at their questioning.

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