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House of Assembly - Fifty-Second Parliament, Second Session (52-2)
2012-02-15 Daily Xml
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Question Time

SOUTH AUSTRALIAN ECONOMY

Mrs REDMOND (Heysen—Leader of the Opposition) (14:10): My question is to the Treasurer. As state debt approaches $11 billion and Labor is running budget deficits of $367 million, $453 million and $348 million in the next three years, in which year does the Treasurer think we will have money to put into a future fund—2020, 2030 or 2040?

The Hon. J.J. SNELLING (Playford—Treasurer, Minister for Workers Rehabilitation, Minister for Defence Industries, Minister for Veterans' Affairs) (14:11): There is no doubt that in time our revenues will recover back to trend, and indeed—

Members interjecting:

The SPEAKER: Order!

The Hon. J.J. SNELLING: —the Olympic Dam mine expansion, as we will see after the overburden is removed and they start digging ore, will start producing royalties in about six years' time. There is no doubt that it is going to take a little time, but this state has an incredibly optimistic future and what the Premier—

Members interjecting:

The Hon. J.J. SNELLING: I know members opposite don't like good news. I know they like nothing better than to try and talk down and rubbish the South Australian economy, but the people of South Australia know better. The people of South Australia know much better. We will see enormous growth particularly from the development of our mineral resources sector.

There are enormous opportunities. The Premier has quite rightly identified that the income flows that we will receive from those ventures should be put to the benefit of future generations of South Australians, not just the existing generation of South Australians. It is a good idea and one I wholeheartedly support.

Members interjecting:

The SPEAKER: Order!

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