The South Australian government has pledged to deliver a surplus for the first time in seven years, after Treasurer Tom Koutsantonis handed down his budget on Thursday.
“Over the next four years we’re projecting another $1.5 billion worth of budget surpluses,” Mr Koutsantonis said following his budget speech.
“We’re back in the black. South Australian finances are sound.”
The budget sees a return to surplus for the first time since 2009 and more than $500 million extra for health to address federal health funding cuts.
“We were disappointed that during the [federal] election campaign, neither major party promised to overturn the 2014 health cuts,” Mr Koutsantonis said.
“The ongoing nature of the Commonwealth/state health funding partnership is something I hope a new government grapples with as one of its first priorities.”
Mr Koutsantonis promised more for job creation, schools and public services.
“We can make sure that we can tackle those head winds that hit us hard from international forces — whether it’s Brexit, whether it’s uncertainty in the financial markets, or whether it’s a hung parliament in Canberra,” he said.
“All of that uncertainty impacts jobs here in South Australia. It’s important that we have the capability to be able to intervene in our economy if we need to, and that’s why those budget surpluses are there.”
Despite the extra investment in health, Mr Koutsantonis warned that with activity levels in SA hospitals increasing by three per cent in the past year “there is still a significant hole in our health budget”.