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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2008-11-11 Daily Xml
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SUPER SCHOOLS

Mr PISONI (Unley) (14:58): My question is to the Treasurer. Will the government's super school project still proceed as a PPP, and, if not, how will the project be funded? The government's media release of 24 April 2008 indicated that three short-listed consortia would present their detailed proposals to the government in September 2008. These three consortia are backed by debt and equity vehicles Babcock & Brown, Deutsche Bank and ABN AMRO, the market values of which have declined 97 per cent, 72 per cent and 48 per cent respectively since 30 June 2007.

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations) (14:58): Clearly, the opposition is either not listening or clever enough to realise that I answered that about two or three questions ago when I said that we have all three bids in. My advice is that all three bids better the public sector comparator and that they have advised government they are able to access debt capital and equity. I said that half an hour ago. Maybe you should listen, member for Unley, a bit more closely and you would not make an idiot of yourself by asking a question that has already been answered.

Clearly, the access of capital and the availability of capital is changing on a daily basis. Before we award those contracts we will want reconfirmation that capital is available. That project is on track, it is a good project and our kids will be very well rewarded by having the best schooling facilities available anywhere in Australia.

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