SA Labor calls a Surplus because of delayed opening of the world's most expensive hospital with fewer beds than the one it is replacing, and a one-off sale of the Motor Accident commission, That sold for 427 million...So What we have is a News Journalist who can not read a balance sheet is preaching the Government's ability to create a surplus...?! Go Figure...South Australia is on the road to bankruptcy, you heard it here...
They are still trying to work out how to sell the WorkCover Corporation- they first started to try selling it in 2003 and found that the legislation did not allow them to sell it, rumour has that they are now revisiting the required changes....
The Mid-Year Budget Review, outlined by Treasurer Tom Koutsantonis on Friday morning, shows the public service will shrink by just 152 workers to mid-2020, despite initial promises to cut 833 fulltime positions.
Despite the extra staffing costs, the review forecasts a surplus of $300 million for the 2016-17 year, up $46 million from the $254 million predicted in the July State Budget. The bottom line is helped by $43 million in savings as a result of delays to the opening of the new Royal Adelaide Hospital and increased returns to government of $427 million from the sale of the Motor Accident Commission.
However, extra planned spending will shrink surpluses in future years from predictions in the July Budget.
Property taxes and gambling revenue are down on expectations but GST revenue from the Commonwealth has been revised up over the forward estimates.
The Government also received extra revenue from emergency services levy payments from last financial year which were not paid until this year.
The smile says it all. Treasurer Tom Koutsantonis has announced a larger-than-expected surplus. Picture: Tricia Watkinson.
Mr Koutsantonis reiterated that “every cent” of the ESL was spent on emergency services and “not one dollar of it goes into general revenue”.
He said it was “too early” to say if the ESL rate would be raised again next year.
Opposition Leader Steven Marshall has called on the Government to reinstate discounts on the ESL which were removed in the wake of the 2014 Federal Budget.
Mr Marshall has pledged to do so if the Liberals win the 2018 election.
An increased natural resource management levy is also bringing extra revenue for Government.
Mr Koutsantonis said the “growing surplus” gave the Government “the ability to make important investments” including in child protection, prison expansions, cost of living concessions and police recruitment.
“Importantly, these surpluses give us the ability to invest in further job creation measures as we face strong headwinds with the closure of (carmaker) Holden next year,” he said.
However, employment is only forecast to grow by three-quarters of a per cent this financial year and one per cent in the following three years.
Yesterday, ABS data showed SA had returned to the top of the nation’s unemployment table as the jobless rate rose to 7 per cent.
