| By Gary Rivett, Chris McLoughlin, staff South Australian Premier and Treasurer Jay Weatherill has revealed a state budget deficit of $1.3 billion for the financial year, a rise of $146 million on the previous forecast. Mr Weatherill said the budget was not expected to return to surplus until the 2015/16 financial year. Debt is expected to peak at almost $9.5 billion in the same financial year. After factoring in savings measures, Commonwealth funding and other provisions, Mr Weatherill said there was a net $131 million of new spending in his budget. More » |
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