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House of Assembly - Fifty-Second Parliament, First Session (52-1)
2010-05-25 Daily Xml
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ADELAIDE OVAL

Mrs REDMOND (Heysen—Leader of the Opposition) (14:49): My question to the Premier. Given that the government's election platform lists 'provision of $25 million towards to the western grandstand redevelopment at Adelaide Oval' as an achievement, which was matched by $25 million from the federal government, can the Premier explain why it is necessary to pay a further $85 million towards the SACA debt?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Federal/State Relations, Minister for Defence Industries) (14:49): I simply do not know why the Leader of the Opposition does not ring her good friend Ian McLachlan (the former senior Liberal and, I guess, still a card-carrying member of the Liberal Party) and ask this question. I would have thought, now that she is aligned with the right wing of the Liberal Party, that would not have been a difficult phone call to make.

The $85 million is the remaining value of that asset that will be transferred to the Stadium Management Authority, and the agreement with the government, football association and cricket would be that the SMA would, where possible, be a debt-free vehicle. If it chooses to take on some debt itself to do any other work that is its decision, but that is SACA's contribution to this. SACA is providing its assets to the SMA. It was comfortable in doing that, we were prepared to support that and that was the agreement we announced. As I said—

Mrs Redmond interjecting:

The Hon. K.O. FOLEY: Yes, that is correct—and federal.

Mr Williams interjecting:

The Hon. K.O. FOLEY: No; John Howard gave $25 million as well. I think you will find the grandstand is worth more than the $85 million.

Mrs Redmond: I hope so.

The Hon. K.O. FOLEY: Well, it is still under construction, and the grandstand is worth substantially more than the $85 million, obviously. I understand the opposition has been offered a briefing from Ian McLachlan later this week, and I look forward to the opposition being informed on this project. One might hope that they will get on board and promote this exciting development.

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