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House of Assembly - Fifty-Second Parliament, First Session (52-1)
2010-07-20 Daily Xml
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ADELAIDE OVAL

Mrs REDMOND (Heysen—Leader of the Opposition) (14:43): My question is for the Treasurer. In light of the fact that Kevin Cantley has advised that $469,000 has already been paid, can the Treasurer advise: if the Adelaide Oval upgrade does not proceed, does SACA have to pay back to the government the interest rate subsidy payment of around $800,000?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Federal/State Relations, Minister for Defence Industries) (14:43): I am just getting that confirmed with my office and will have—

Members interjecting:

The SPEAKER: Order! I have no idea whether the Treasurer answered that question, because I did not hear the end.

The Hon. K.O. FOLEY: I have not answered it, and I am not going to stand here and be screamed at by members opposite. I am happy to answer. My understanding—and why I said I am getting it confirmed is because I want to make sure I give the correct information—is that should the project not proceed the interest will be capitalised and become part of the loan.

The Hon. I.F. Evans: They have already paid $469,000; what happens to that?

The SPEAKER: Order! It is not your question, member for Davenport.

The Hon. K.O. FOLEY: I am just getting that checked, as we speak. I will come back to what I said: my understanding—

Mr Williams: This is supposed to be common knowledge. That is what you just told the house.

The SPEAKER: Order!

The Hon. K.O. FOLEY: Madam Speaker, may I please have an opportunity to answer this question without interjections consistently?

Members interjecting:

The SPEAKER: Order! You will be quiet.

The Hon. K.O. FOLEY: My understanding of the loan is quite simple in that, should the project not proceed, the interest payments the government has made to that loan will be capitalised into the loan, meaning the government has not provided an interest subsidy.

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