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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2008-10-29 Daily Xml
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STATE FISCAL POSITION

Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (14:10): My question is to the Premier. Why has he not directed the Treasurer to provide to parliament forthwith the promised complete and detailed financial statement which reveals the full extent of recent financial turmoil on the state's fiscal position, including corporations—

Members interjecting:

The SPEAKER: Order!

Mr HAMILTON-SMITH: —underwritten by the taxpayer? Yesterday the Treasurer informed the house that there would be no financial statement other than the usual Mid-Year Budget Review to be provided in late December or early January. Earlier the government committed to a much sooner financial statement.

The Hon. M.D. RANN (Ramsay—Premier, Minister for Economic Development, Minister for Social Inclusion, Minister for the Arts, Minister for Sustainability and Climate Change) (14:10): I must say that I find it extraordinary. When the Leader of the Opposition asked questions of the Minister for Industrial Relations, the answer that I would have given—although it was answered much better by the Minister for Industrial Relations—is: have you not been watching the television in recent weeks? Did you not hear what happened on Wall Street? Did you not hear of what happened with the congressional buy-out? Did you not hear that, in fact, 10 British banks have been nationalised? Did you not hear also what has been—

Mr WILLIAMS: I rise on a point of order, Mr Speaker.

Members interjecting:

The SPEAKER: Order! There is a point of order.

Mr WILLIAMS: Mr Speaker, the question certainly was not about the financial—

Members interjecting:

The SPEAKER: Order!

Mr WILLIAMS: —position of WorkCover prior to 30 June.

Members interjecting:

The SPEAKER: Order! I uphold the point of order. The Premier is not answering the previous question: he is answering the current question.

The Hon. M.D. RANN: The Minister for Infrastructure and I have just announced details of South Australia's bid—to be lodged by Friday—to the federal government in order to bring forward infrastructure funds on a range of projects. Obviously, the leader would be aware that we are bringing forward construction on the desalination plant by one year. Part of our bid is to secure a partnership with the federal government on bringing forward the electrification of the north-south rail system.

But, in terms of what the Treasurer is doing, it is absolutely appropriate that, through the Mid-Year Budget Review process, we give an estimate of what has been happening internationally and nationally, as well as in South Australia, in terms of its impact on next year's budget and beyond. It is the sensible and prudent thing to do, given the volatility of the market, which everyone in the world seems to know about except the Leader of the Opposition, who is rapidly becoming the Sarah Palin of the South Australian parliament.

Members interjecting:

The SPEAKER: Order! The member for Norwood.

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