SA Economy

[rev]

Does the BAE move involve any extra recruitment, or is it part of moving SA's technology innovation centre from The Levels/Mawson Lakes to Lot 14?

From the article..

“Over the next 12 months we expect to recruit 800 new employees across our operations, and Lot Fourteen is a key enabler to achieving our growth ambitions,” he said.

[rubberman]

2544 people fined using mobile phones in the first week of camera operation. At $652 per offence, that's $87m per year extra revenue.

https://glamadelaide.com.au/2544-fined- ... to-action/

A few thoughts. Since there's been a longish grace period for people to get used to it without getting fined, these people would have to be pretty stupid. (Well, driving and using a mobile phone isn't terribly bright in the first place).

Next. If the rate of fines is steady, that's about $87m per year into the State's coffers. I'm betting that the rate of incurring fines will go down as the message gets through...or the really hard of understanding lose their licences. However, I imagine that the government will increase camera numbers, so $100m per year is possible.

Stable revenue of that amount could either reduce State debt increases...a little. Or, it could support extra capital spending on infrastructure of about $1.7bn.

[bits]

Money taken from people's bank accounts is not spent on goods and services.
Less goods and services means all kinds of negatives to the economy including less tax.

You can not tax your way to posterity.

The $100m I assume needs to go to unemployed people so they can spend it.

[gnrc_louis]

Money taken from people's bank accounts is not spent on goods and services.
Less goods and services means all kinds of negatives to the economy including less tax.

You can not tax your way to posterity.

The $100m I assume needs to go to unemployed people so they can spend it.

Why would the South Australian State Government give money to "unemployed people"? Centrelink administers the JobSeeker payment through Services Australia, a Federal Government agency.

[rubberman]

Money taken from people's bank accounts is not spent on goods and services.
Less goods and services means all kinds of negatives to the economy including less tax.

You can not tax your way to posterity.

The $100m I assume needs to go to unemployed people so they can spend it.

Money spent on infrastructure has a wage and company profit component. Those wages and profits are spent on goods and services.

[abc]

apparently if you're a drug or alcohol addict you're eligible for a fortnightly payment of $1047

that money has to come from somewhere

[SBD]

apparently if you're a drug or alcohol addict you're eligible for a fortnightly payment of $1047

that money has to come from somewhere

Really? Who pays a drug subsidy of over $26k per year? You were worried about subsidies to the renewable energy industry, but support subsidies for the drug growth and distribution industries?

[rubberman]

apparently if you're a drug or alcohol addict you're eligible for a fortnightly payment of $1047

that money has to come from somewhere

Really? Who pays a drug subsidy of over $26k per year? You were worried about subsidies to the renewable energy industry, but support subsidies for the drug growth and distribution industries?

I think he means the disability support payment. That's $1047 per fortnight plus supplements. However, it's not clear what that has to do with SA, or savings from mobile camera fines, since it's paid from Federal taxes.

[mattblack]

Good news for the economy.

SA selling more to China than ever before

As the Socceroos prepare to face China in a FIFA World Cup qualifier at Adelaide Oval tonight, exports from South Australia to its largest trading partner are continuing to grow, reaching an all-time high in the year to August 2024.

New ABS data shows the value of South Australia’s exports to China rose 46 per cent over the past 12 months to a record $4.27 billion.

Overall, South Australia’s exports are worth $17.6 billion – the 19th consecutive month that SA’s exports have exceeded the $17 billion mark.

The growth in exports to China to record numbers coincides with the stabilisation of Australia’s relationship with China, following the significant and sustained efforts of the Malinauskas Government to reengage with our largest trading partner.

This includes the senior and significant missions led by Premier Peter Malinauskas, Governor Frances Adamson AC, Trade Minister Joe Szakacs and Primary Industries Minister Clare Scriven into market since coming to Government.

South Australia has also seen significant inbound engagement by China, including the historic visit of Premier Li Qiang, as well as our hosting the Australia-China High Level Dialogue.

Over the past 12 months, more than $660 million worth of local barley has been sold to China, while $395 million of wine has been exported in the five months since trade restrictions were removed.

In March, the Malinauskas Government announced a $1.85 million reengagement package to support South Aussie wine exporters get back into the Chinese market.

The package assisted more than 30 local wineries to attend and have a presence at Hong Kong’s VinExpo in May.

With Minister Szakacs having visited both Hong Kong and mainland China in the months since tariffs were lifted, major events like this evening’s FIFA World Cup qualifier provide yet another opportunity for the state to further engage with Chinese government and business leaders.

Additional opportunities for South Australian exporters will also be created when China Southern Airlines will resume direct flights in and out of Adelaide from December.

With a capacity of 15 tonnes of air freight per plane, the flights will allow the state’s world-class high-value perishable produce, such as seafood, dairy, and fruit to be sold into key markets including Guangzhou and the Greater Bay Area.

South Australia’s top three export markets are China mainland at $4.27 billion, the United States at $2.13 billion, and India at $1.09 billion.

Other major export markets in growth included Vietnam ($629 million, +29 per cent), the United Kingdom ($407 million, +13 per cent), and Hong Kong ($362 million, +27 per cent).

https://www.premier.sa.gov.au/media-rel ... ver-before

[abc]

apparently if you're a drug or alcohol addict you're eligible for a fortnightly payment of $1047

that money has to come from somewhere

Really? Who pays a drug subsidy of over $26k per year? You were worried about subsidies to the renewable energy industry, but support subsidies for the drug growth and distribution industries?

Where did I say I support it?

You seem a little touchy. Maybe have a cool drink of water.

[SBD]

apparently if you're a drug or alcohol addict you're eligible for a fortnightly payment of $1047

that money has to come from somewhere

Really? Who pays a drug subsidy of over $26k per year? You were worried about subsidies to the renewable energy industry, but support subsidies for the drug growth and distribution industries?

Where did I say I support it?

You seem a little touchy. Maybe have a cool drink of water.

OK, maybe you didn't say you support it. I don't believe there is any government subsidy for illicit drug addiction. I guess I interpreted your comment as supporting its introduction. What did you mean?

[Jaymz]

Well peeps, the CommSec State of the States report has been released for the September '24 quarter. S.A has lost it's number 1 spot to Western Australia after three consecutive quarters at the top. Still a pretty good result though .....

https://www.commsec.com.au/content/dam/ ... r_2024.pdf

[abc]

Well peeps, the CommSec State of the States report has been released for the September '24 quarter. S.A has lost it's number 1 spot to Western Australia after three consecutive quarters at the top. Still a pretty good result though .....

https://www.commsec.com.au/content/dam/ ... r_2024.pdf

this report is always hard to read

its like the golf handicap of economic reports... all figures are relative rather than comparative

[mattblack]

Another really positive result. Continued momentum is what we need to build economic confidence and resilience. I can't actually remember such an extended time of positivity. Will be interesting to see how this progresses in '25.

[mattblack]

Business Council analyses of State business policies.

BCA backs SA as nation’s best place to do business
Release date: 03/12/24

For the second year running, the Business Council of Australia has found South Australia is the best place in Australia to do business.

The BCA’s annual Regulation Rumble report released today ranks South Australia 1st in the country ahead of all other states and territories.

1st South Australia
2nd Tasmania
3rd Australian Capital Territory
4th Northern Territory
5th New South Wales
6th Queensland
7th Western Australia
8th Victoria
Source: BCA Regulation Rumble 2024

The Regulation Rumble report ranks jurisdictions on a series of criteria including payroll taxes, property taxes and charges, planning systems and licenses to do business.

The BCA ranked South Australia first in the country on a range of measures including:

Cost and regulation
Payroll tax
Land use and planning system
Planning efficiency
Planning consistency
Planning transparency

The state also ranks in the top three performers for property taxes and charges and business licencing.

South Australia has the lowest payroll tax rate for large employers and (joint) second highest threshold.

With its low payroll tax rate and its progressive rate and deduction system, South Australia also leads the way for the lowest payroll tax rates for small expanding businesses.

https://www.premier.sa.gov.au/media-rel ... o-business