Tag: Jack Snelling

Feb 22

Myths and Mysteries In The State Mid Year Budget Update – Part 3

So, on these two items alone, compared with 2010 by 2016 there will be a reduction of around $1.75b, representing a massive 10% of the State Government budget. That is, while Weatherill talks of not withdrawing, in truth he and his Government are proposing shrinking what it spends out in the community by 10%. This is very likely the greatest contraction (‘withdrawal’) of government in the nation’s history!

Feb 03

Myths and Mysteries In The State Mid Year Budget Update – Part 2

Things like the desalination plant and the Adelaide Oval redevelopment are just two examples of uneconomic waste that mean that all the debt accrued over the six year period from the GFC to the end of next financial year has and will have been totally avoidable.

Jan 22

Myths and Mysteries In The State Mid Year Budget Update – Part 1

But the bottom line to the State’s finances by Labor is now, as it has been since the GFC (the start of FY2008-09) that the management of them is clearly out of control.

Jun 05

SA State Budget Review

The day of reckoning looms but unlike with the State Bank when it comes there will be nothing left to sell to pay back the indulgences. $27b of new financial liabilities by 2016 plus a further $12b for the new RAH after that.

Dec 13

RAW: State Budget Mid Year Update – What Needs To Be Revealed

We project the State Budget loss for this year will go from $263m to $400m. Going out to 2014, the result will go from a $655m surplus to at best break even. On all of the State’s financial liabilities, these should increase by $1b in debt by end of 2014 and the unfunded State Super liability will increase by $1.4 billion. All up total State liabilities will increase from the projected $19.5b to around $22b.

Nov 21

RAW: Myths And Mysteries About The Zoo Bail Out – Part 2

Are single parents with screaming and hungry kids shown compassion on the scale of Westpac of the Zoo when they fall behind in their mortgage payments? I don’t think so. Why wasn’t the Zoo made to close down or sell off Monarto?

Nov 17

RAW: Myths And Mysteries About The Zoo Bail Out – Part 1 – Background

Over the three financial years (2008 to 2010), the Zoo spent $48.4 million on property, plant and equipment. The projects involved include the panda enclosure (stated as costing $8m) and the new entrance ($20m). So, where has the other $18m gone?

Nov 15

RAW: This State’s Finances – The Real Rann Legacy = State Bank 2.0 – Part 3

Can we expect new Treasurer Snelling to have the smarts to fix this mess? Recently he stated, “$4.2 billion is not a lot of money. It is like the average person having a $26,000 debt.’”Well, if his credit card analogy and his views of $4.2 billion don’t worry you, then his $26,000 figure should. He got his maths wrong by a factor of 10!

Nov 06

RAW: This State’s Finances – The Real Rann Legacy = State Bank 2.0 – Part 2

In this is the second of our three part Special Kryztoff Investigation into the condition of this State’s Finances in the wake of the Rann / Foley Years, we look at the real state of this State Debts.