With the State Government's plans to slash $750 million from jobs and services in the upcoming budget, the Public Service Association (PSA) commissioned the Australian Institute for Social Research, University of Adelaide, to provide an economic and budget outlook for South Australia.
The report concludes the proposed cuts are not only unnecessary, but also contrary to South Australia's positive economic and fiscal outlook. The Australian and South Australian economies have proved resilient in the face of the Global Financial Crisis. The report also found there is no realistic prospect of a credit downgrade and the economic and budget outlook for South Australia provides a foundation for growth rather than contraction.
The report provides:
an overview of key public sector employment trends that require the consideration of the State Government in shaping budgetary policy;
an update on Australian and South Australian economic and fiscal conditions, and
a summary of the positive net fiscal position that the State Government faces.
The report is attached for your interest and is also available from the PSA website.