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Legislative Council - Fifty-Fourth Parliament, First Session (54-1)
2019-06-19 Daily Xml
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Question Time

State Debt

The Hon. K.J. MAHER (Leader of the Opposition) (14:24): My question is to the Treasurer. Will the Treasurer confirm that the $21.7 billion in debt delivered in the latest budget will not be paid off in his lifetime and, given that the Treasurer told listeners to ABC radio this morning that he is unlikely to be around when the debt will be paid off, can he advise whether anyone currently in this chamber will be living when his debt is paid off?

The Hon. R.I. LUCAS (Treasurer) (14:25): There is only one person who knows how long I am going to live, and that is the good Lord. With great respect, as much as the Leader of the Opposition might believe that my talents extend beyond what they really do, can I disabuse him of the notion that I have any knowledge of how long I am going to live on this earthly coil. There is only one individual, and that is the good Lord, who knows what that will be. I hope it is a long time, but I can give no guarantees.

In relation to the honourable member's question in relation to whether I can guarantee or answer questions, I cannot answer that. In relation to the debt, I am very happy to respond to the question, and that is, very simply, the independent credit rating agencies have given our budget a tick of approval. They have said that the level of debt is manageable, and one of the agencies actually said the reason we are maintaining the credit rating is because of the solid financial management record of this government.

So, whatever the level of debt, with a $22 billion annual budget we believe it is sustainable, and certainly it will be sustainable for future governments after 2022, when I won't be here. It will be sustainable for future governments if they are competent governments and manage competently. I say to the people of South Australia: do not risk another Labor government, because I would not be able to give that same guarantee to the people of South Australia if they were to take a risk in relation to electing a Labor government.

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