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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2009-02-18 Daily Xml
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ROYAL ADELAIDE HOSPITAL

Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (14:50): My question is again to the Treasurer. Will the debt measure provided in the budget for the new central hospital include only the capital cost of the project build and, if so, how does the government intend to include in the budget financing costs linked to the separate private contract for the operation of administrative and maintenance services for the hospital?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations) (14:50): Oh boy, I really wish the leader would come and get a briefing on this thing. If it is a public-private partnership, the operating expenses will be accounted for in the operating account of government (OpEx). The debt will not appear as a debt as such, as I have said, but as an on balance sheet transaction for the purposes of the Auditor-General and for the purposes of the rating agencies. When they consider our net financial liabilities to revenue ratio, we will treat that as an on-budget amount. It is basic 101 public financing.

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