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House of Assembly - Fifty-First Parliament, Third Session (51-3)
2008-10-14 Daily Xml
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Question Time

STATE BUDGET

Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (14:15): My question is to the Treasurer. Why does South Australia have the lowest budget surplus of all states bar New South Wales and is the surplus adequate? State budget papers reveal that the government's $160 million surplus is 1.2 per cent of revenue, a smaller buffer than every state except New South Wales and considerably less than Tasmania and WA with 9.3 per cent.

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations) (14:15): I predicted this question because he put a press release out yesterday and I do not think it got a run in the paper. Fancy that question coming from a cabinet minister (albeit for a very brief period) who was part of a government that never once delivered an operating surplus in this state. Never, ever, ever—

Members interjecting:

The SPEAKER: Order! The Treasurer has the call.

The Hon. K.O. FOLEY: Fancy that coming from an opposition that never once in eight years of government delivered an operating surplus. It was Rob Lucas's dodgy cash accounting which had a string of $2 million surpluses which represented heavy deficits—and not one economic or financial commentator would disagree with what I have just said. I will say to members opposite: if they think I am misleading the house, move a substantive motion now, right now, and we will have a debate. Move it now if you think I am saying something that is not true.

They do not have the courage to do it because they know what I am saying is right, because if I was misleading the parliament with that statement, they would be on their feet moving a substantive motion saying and accusing me of misleading the parliament. They cannot do that because they know that, as much as it hurts, what I am saying is correct. I would love to go back over transcripts of the past about how much money the Leader of the Opposition would want us to spend that we are not already spending. Guess what he would like in the city? A $1.2 billion football stadium. How do you think we pay for that?

Mr Hamilton-Smith: Paid for by you.

The Hon. K.O. FOLEY: Who pays for it; who pays for a $1.2 billion stadium? Where does the money come from?

An honourable member: That's his priority.

The Hon. K.O. FOLEY: That's his priority. We are building hospitals; we are building police stations. Genius over there wants to build a footy stadium for $1.2 billion. Talk about financial irresponsibility. But what else do we have?

Mr Hamilton-Smith: The build and own didn't cost the taxpayer a cent. Check your facts.

The Hon. K.O. FOLEY: If the Leader of the Opposition is so incompetent with financial matters that he thinks the private sector would build a $1.2 billion stadium and not put a $1 billion ask on the government, he is unfit to govern. Trust me, your mate Colin Barnett over in the West is putting a $1.5 million public subsidy into a football stadium. And do you know what he is also doing right now? He is thinking about cancelling it.

Do members know what the member for Unley, the shadow education minister, was out there saying we should do only last night and this morning? We should give in to the teachers. Give the teachers what they ask for—$2.5 billion. Their approach to wage negotiations is just give the unions what they want. You have a sell-out policy to sell out the state's finances to cut a deal. You have to get your stories straight. If you want fiscal discipline, practise what you preach. If you want to have budgetary explosions, continue saying things like, 'Give the teachers what they ask for; build a football stadium for $1.2 billion.'

As we move towards the next state election, you are getting into a period where, if you want to be an alternate government, you have to be responsible, you have to be able to say how you will pay for things and you have to be able to deliver good budget management. That is why, since coming to office, every budget in surplus, AAA credit rating, and, as I outlined today, we will make hard decisions and tough decisions. We will make painful decisions because we are serious and prepared to govern and protect this state's finances. This government will ensure that we ride out the economic financial crisis that is engulfing the world, this government will ensure that we retain our AAA credit rating, and this government will continue to deliver strong, solid, forceful economic management that protects the taxpayer.

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