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House of Assembly - Fifty-Second Parliament, First Session (52-1)
2010-07-21 Daily Xml
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MID-YEAR BUDGET REVIEW

The Hon. I.F. EVANS (Davenport) (14:50): Following the release of the Mid-Year Budget Review on 28 January this year, can the Treasurer explain how he could then approve all the government's election promises and not know that the savings targets in the Mid-Year Budget Review were not going to be large enough to meet his election promises?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Federal/State Relations, Minister for Defence Industries) (14:51): I am not going to defend what the government chose to do as its right during an election campaign. The election campaign promises for the Labor Party—

Mr Venning: You're walking away from them.

The Hon. K.O. FOLEY: No. Just like the Liberal Party working on the Mid-Year Budget Review numbers costed its policies, we did the same.

Members interjecting:

The Hon. K.O. FOLEY: Well, in preparing budgets, governments do a number of things, and a number of inputs and outputs change. A number of forecasts change and—

Members interjecting:

The Hon. K.O. FOLEY: Madam Speaker, the opposition is talking about 17 days or 6 April. I made a statement in the house on 6 May stating quite obviously that we were beginning the budget process and that I had asked agencies to submit to me a menu of savings way in excess of what is needed.

Mr Williams: What is needed?

The Hon. K.O. FOLEY: Well, I'm not going to tell you the target. Wait for the budget. That is the excitement of the day. The state is in good financial hands. The independent credit rating agencies consistently praise this government's fiscal management. They consistently praise this government's fiscal management—independent rating agencies. So, those opposite can prattle on all they like, they can make up all the numbers they like, they can say whatever they wish to say, but the truth of the matter is this: this state has never been better managed financially and no party is better placed to look after the finances going forward than the state Labor government.

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