Tick of approval from independent global ratings agencies

Independent global ratings agencies, Moody’s and S&P Global, have both given the Marshall Liberal Government’s second State Budget a tick of approval, with the Government applauded for its ‘solid financial management’. The agencies have publicly endorsed the Government’s sustainable budget program which includes a significant projected increase in net debt to fund a pipeline of productive, job-creating infrastructure, with Moody’s describing…

State Budget remains in surplus as Marshall Government builds a stronger economy, invests in big job-creating infrastructure

The Marshall Liberal Government’s second State Budget projects a modest surplus in 2019-20 and across each year of the forward estimates despite a significant write-down in forecast GST grant revenues. The 2019-20 State Budget’s net operating surplus of $94 million in 2019-20 maintains the strong fiscal record of the Marshall Liberal Government whilst growing the economy and…

Housing stimulus package to boost construction industry, grow local jobs and help more South Australians break into property market

The Marshall Liberal Government has announced a sweeping $104.5 million housing stimulus package in the 2019-20 State Budget that will grow local jobs, support the local construction industry and assist more South Australians, particularly first-home buyers, break into the property market. The centerpiece of the Government’s stimulus package is $21.4 million for the South Australian Housing Authority to undertake…

Government offers 2.35% p.a. pay rise for state’s teachers and an extra $13 million for more than 200 highly accomplished teachers in schools’ EA deal

The Marshall Liberal Government has announced it has made a formal enterprise agreement offer to the Australian Education Union and the Public Service Association of SA on behalf of the state’s 28,000 teachers, principals and support staff, which includes salary increases of 2.35 per cent per annum up until May 2022. The offer – worth more than $699…

Corporate bookies ‘wrong’ on betting operations tax impact, concludes independent report

Claims made by corporate bookies and others that a significant reduction in the betting operations tax (BOT) rate would lead to an overall increase in wagering revenues to Government have been dismissed as wrong by an independent report. Treasurer Rob Lucas said that Treasury officials had long held the view that any potential reduction in the betting operations…

Further boon for motorists as QBE ‘floors’ its CTP rates for cars, utes

The State Government has welcomed the move by private insurer, QBE, to reduce its CTP insurance premiums offered to private passenger vehicles and all goods carrying light vehicles, such as utes, to the lowest rate possible under full-competition.  QBE’s new CTP rate of $296.77 for a private passenger vehicle in metropolitan Adelaide and the Hills (premium class 1) – to come…

Nyrstar makes $43 million payment towards Port Pirie smelter loan

Premier Steven Marshall and Treasurer Rob Lucas have this afternoon met with the global Chairman and CEO of Nyrstar’s largest shareholder, Trafigura, and other senior executives who confirmed payment of $43 million from Nyrstar Port Pirie towards the $291.25 million taxpayer-guaranteed loan for the smelter operations. Trafigura head, Mr Jeremy Weir, had made a special trip to…