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House of Assembly - Fifty-Second Parliament, First Session (52-1)
2011-07-28 Daily Xml
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UNITED STATES DEBT CRISIS

The Hon. I.F. EVANS (Davenport) (15:05): My question is to the Treasurer. What is the taxpayers' exposure to financial markets in the United States through the government's investment vehicles such as Funds SA, SAFA, WorkCover and the Motor Accident Commission? What advice has the Treasurer received about the government's exposure in relation to the US debt crisis?

The Hon. J.J. SNELLING (Playford—Treasurer, Minister for Employment, Training and Further Education, Minister for Workers Rehabilitation) (15:06): To my recollection, I have not had any specific advice, but the government is very careful. Funds SA, WorkCover—

Members interjecting:

The SPEAKER: Order!

The Hon. J.J. SNELLING: —and the other bodies which invest funds on behalf of government, are very careful and take very good advice. I have full confidence in their investments and in making sure that we are as exposed as little as possible. The fact is that, over the last 12 months, all the reports I have had on our returns on investments have all been very good. I have no reason to believe that we have any specific—

Members interjecting:

The SPEAKER: Order!

The Hon. J.J. SNELLING: —exposure to what is going on in the US.

Members interjecting:

The SPEAKER: Order! Member for Bragg.

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