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House of Assembly - Fifty-Second Parliament, Second Session (52-2)
2013-03-06 Daily Xml
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STATE ECONOMY

The Hon. I.F. EVANS (Davenport) (14:33): My question is to the Treasurer. Following the government's decision to reduce this year's domestic economy growth forecast from 2.75 per cent in the budget down to 1.75 per cent in the Mid-Year Budget Review, is the government confident that it will meet the 1.75 per cent growth forecast given that halfway through this year the South Australian domestic economy has declined by over 3 per cent?

The Hon. J.W. WEATHERILL (Cheltenham—Premier, Treasurer, Minister for State Development, Minister for the Public Sector, Minister for the Arts) (14:33): The shadow treasurer repeats the error of the Leader of the Opposition, and I am getting some idea about how the Leader of the Opposition may have been led into error. In fact, just for the catcalling across the chamber that suggested that we could not read the ABS statistics, can I just point out for the Leader of the Opposition's edification, and his shadow treasurer, that both Victoria and Tasmania had lower state final demand figures for the quarter that they mentioned—so completely contrary to what they assert. You are just simply wrong. You are wrong in your analysis about what it means; you are wrong factually—just as you were wrong to go out and actually talk down that development today when you were out at Gilberton.

The SPEAKER: I anticipate the member for Davenport's point of order and would ask the Premier to come back to the substance of the question.

The Hon. J.W. WEATHERILL: Thank you. I am more than happy to return to the substance of the question, which was about the growth forecasts that are contained within the state budget. The growth forecasts that are contained within the state budget are conservative forecasts. They are consistent with a range of other forecasts that are made by other commentators from a range of significant accounting and business houses, which in many respects forecast high growth for South Australia in terms of its activity over this period. We have no reason to adjust those forecasts based on the material that is presently before us.

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