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House of Assembly - Fifty-Third Parliament, Second Session (53-2)
2017-11-15 Daily Xml
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State Budget

Mr MARSHALL (Dunstan—Leader of the Opposition) (14:12): A supplementary to the Treasurer: has the Under Treasurer presented the Treasurer with his list of new revenue measures to replace the state bank tax, and when will the government be making its decision on how to replace that revenue?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:13): It's interesting that the opposition instantly go to new revenue measures rather than any other measure. What we will be doing is that we will be looking at what our revenues are, what our expenditure is, what we can afford to do to maintain budget surpluses, which is always the aim of good governments, something that the former opposition when they were in government were never able to deliver to the people of South Australia—a budget surplus.

We are very keen to make sure that we can maintain budget surpluses, but the opposition have put the state in a very precarious position. What they have done is they have ripped out of the heart of the budget over $400 million and not once have they suggested a piece of spending that they think should not continue. We will do that work—

Members interjecting:

The Hon. A. KOUTSANTONIS: Here we go: a one-off $1 million or $2 million dollar line in the budget will cover a $400 million cut. Well, I have to say, Mr Speaker, that it goes to show you that we are not talking about running a Wokinabox here: we are talking about running a state. The opposition have trashed the conventions of this parliament, and they have done so for one person's, and one person only, political benefit, and the opposition have to wear that.

The SPEAKER: I heard the member for Adelaide interjecting when she is on a full set of warnings. Would that have been correct?

Mr Wingard: No, I think it was me, sir.

The SPEAKER: Member for Mitchell, it is a far, far better thing he does than he has ever done before.

Mr van Holst Pellekaan: I'm not sure she's even here, sir.

The SPEAKER: The member for Stuart.

Mr VAN HOLST PELLEKAAN: Point of order: I ask you to bring the Treasurer back to the substance of the question, which is, whether the Under Treasurer has provided him with recommendations and, if so, what are they?

The Hon. A. KOUTSANTONIS: No, the Under Treasurer has not provided me with new revenue measures and nor have I asked him to provide me with new revenue measures. What we have done—

Mr Marshall interjecting:

The SPEAKER: One more utterance outside standing orders and you will be missing my grievance valedictory.

The Hon. A. KOUTSANTONIS: It will be a sight to behold. No-one is safe!

Members interjecting:

The Hon. A. KOUTSANTONIS: So, no, Mr Speaker. I have to say that the debate on the major bank levy has been interesting because what we proposed was a levy on five businesses that make super profits, that don't pay their fair share of tax to give tax cuts to South Australian small businesses. This has happened before with Business SA. Business SA proposed an increase to the GST for all of us to pay more in exchange for cuts to payroll tax. So it is nothing new; it is just who it is that you want to tax. We wanted to tax people who do not pay their fair share of tax. The opposition obviously have similar traits.

The SPEAKER: And the Under Treasurer?

The Hon. A. KOUTSANTONIS: I answered that, sir. I said, no, he hadn't.

The SPEAKER: No, he hadn't. Okay, good.

The Hon. A. KOUTSANTONIS: The opposition obviously share a lot in common with the Australian banking institutions.

Mr GARDNER: Point of order: this is debate. He is describing the opposition's point of view when the question was not remotely related to that.

The SPEAKER: It is a fair enough point that the opposition has not been in office in South Australia for more than 15 years. Could the Treasurer wind up on that point.

The Hon. A. KOUTSANTONIS: No, the Under Treasurer has not provided me with revenue measures to replace the major banking levy. I doubt there would be any revenue measures that could replace it because there are not any other institutions in Australia who avoid this much tax. There are not any other institutions who are able to pocket so much money that should be going to taxpayers. There are no other institutions that live and breathe on the guarantees we provide them as a country and as a state. There are no other institutions that forgo so much tax as the Australian banks.

There is no other institution that pays their executives so much more than is even socially reasonable. The idea that the NAB can pay its chief executive a half a million dollar increase and then sack 6,000 South Australians and find a friend in the opposition speaks volumes about the opposition and the NAB.

The SPEAKER: The member for Hammond and the deputy leader are warned, and the member for Stuart is warned for the second and final time. Leader.

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