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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2008-10-29 Daily Xml
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Question Time

WORKCOVER CORPORATION

Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (14:04): Can the Minister for Industrial Affairs explain to the house why WorkCover Corporation's income from investments appears to have fallen by a quarter of a billion dollars in one financial year?

Mr Koutsantonis interjecting:

The SPEAKER: Order!

Mr HAMILTON-SMITH: The WorkCover annual report has appeared on the WorkCover website before being tabled by the minister in parliament. According to page 21 of WorkCover's financial statement for the year ended 30 June 2008, income from investments have fallen from a positive $168 million in 2007 to a negative $70 million in 2008, an apparent turnaround of $238 million.

Members interjecting:

The SPEAKER: Order!

The Hon. P. CAICA (Colton—Minister for Industrial Relations, Minister for Employment, Training and Further Education, Minister for Science and Information Economy, Minister for Youth, Minister for Volunteers) (14:05): Of course, the point that I would make, and I think I can give a very brief answer, is that WorkCover, with respect to its investments, is not immune to what is happening with respect to all investments in the world at this time.

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