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Legislative Council - Fifty-Second Parliament, First Session (52-1)
2011-09-28 Daily Xml
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GLOBAL SHARE MARKETS

The Hon. D.G.E. HOOD (14:53): I seek leave to make a brief explanation before asking the minister representing the Treasurer a question.

Leave granted.

The Hon. D.G.E. HOOD: I think it is fair to say that the global share market has endured a very difficult time in the last several months. Whilst we have seen some not insubstantial rises in the last couple of days, the reality is that equity markets around the world are showing very high levels of volatility and much of the outcome seems to depend on some policy makers in the EU. My questions to the Treasurer are:

1. What is the extent of South Australian exposure to global equity markets, in particular through superannuation investments of public servants and the like?

2. What steps have the Treasurer and the government taken in order to minimise exposure to what may be a very substantial fall in equity values, at least as predicted by some pundits?

The Hon. G.E. GAGO (Minister for Regional Development, Minister for Public Sector Management, Minister for the Status of Women, Minister for Consumer Affairs, Minister for Government Enterprises, Minister for Gambling) (14:54): I thank the honourable member for his important questions and will refer them to the Treasurer in another place and bring back a response.

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