Budget bottomline a fiscal fantasy

The State Budget is based on a range of absurdly optimistic revenue assumptions that will require South Australia to transform overnight from economic basketcase to economic powerhouse to be realised. “At the heart of the Treasurer’s dodgy figures is the assumption that South Australian tax revenue growth will rocket along at 6.2 per cent, the…

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Secret study on privatising SA Water assets

A senior State Government source has provided information that the Weatherill Government employed highly-paid consultants last year to consider privatising some SA Water assets said Shadow Treasurer Rob Lucas. In evidence to the Budget and Finance Committee, Under Treasurer Brett Rowse refused to answer questions on the grounds the issue had gone to Cabinet and…

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Koutsantonis embarrassed by Treasury evidence

Treasurer Koutsantonis has been severely embarrassed by today’s revelation the Weatherill Government will be applying for money under the Federal Government’s 15 per cent asset recycling grant scheme. Evidence to the Budget and Finance Committee by Treasury head Brett Rowse confirmed the Government would be applying for the bonus after its decision to privatise the…

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Labor’s massive deficit stolen from the future

The record $1.2 billion deficit that the Weatherill Labor Government has delivered for this financial year is the Labor Government’s single most expensive broken promise. Mr Koutsantonis’ record breaking budget has just delivered the largest deficit in South Australia’s history at $1.2 billion and the biggest debt in SA’s history at $14.3 billion. “If the…

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What promises will be broken in today’s Budget?

South Australians should be asking themselves what promises the Weatherill Labor Government will break in today’s Budget. “The Weatherill Labor Government has spent 12 years making and breaking promises and has shown that it cannot be trusted,” said Shadow Treasurer Rob Lucas. “There is already serious doubt over one of the Weatherill Labor Government’s key…

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Serious doubt over Labor’s budget surplus promise

There is serious doubt over one of the Weatherill Labor Government’s key election promises being delivered in this week’s State Budget. The Weatherill Labor Government has promised to deliver a budget surplus in 2015/16 since the 2013 State Budget. This promise was reiterated in the Mid-Year Budget Review, January Budget Update and Labor’s election costings…

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L-Plate Treasurer struggling to cope

South Australia’s L-Plate Treasurer Tom Koutsantonis is clearly struggling to cope with the complexity of his new Treasury responsibilities. “At a time when South Australia faces one of its most important budgets ever, a litany of bungles, blunders and misstatements by Tom Koutsantonis gives South Australians no confidence at all in his ability to handle…

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