Latest news with #Malinauskas
News.com.au
11 hours ago
- Business
- News.com.au
South Australia shaken by jobs challenges and Premier Peter Malinauskas must be at top of his game
South Australia's foundations are being shaken by global and natural forces, with tempestuous times ahead. In a tumultuous past fortnight, bedrocks of the state economy, employing thousands of people, have been plunged into doubt. Santos, the state's biggest company by far, is the target of an almost $30bn takeover bid by an Abu Dhabi raider, casting great uncertainty over the future of its Adelaide head office. The $368bn nuclear-powered submarine project centred on Adelaide is under threat from a 30-day United States review assessing its alignment with President Donald Trump's America First agenda. Despite some heartening rain, the drought continues to ravage the state's farms – SA primary industries generate $17.1bn annually. State debt was forecast to soar to $48.495bn in the state budget unveiled on June 5, after which the influential S & P Global Ratings warned big new spending ahead of next March's state election could trigger a credit rating downgrade. The purse strings will continue to be tested by the Whyalla steelworks and mine, as the budget set aside $384m in state and federal funds for a potential six-month extension of the state-induced administration. The Malinauskas government might have repeatedly ruled out an ownership stake in Whyalla's steelworks but a $2.4bn state/federal rescue package leaves both on the hook until a new owner is found. Public sector unions are restless. The SA Salaried Medical Officers Association on Thursday rejected a 10 per cent pay rise over three years and recommitted to walking off the job on Wednesday. These are extraordinary and foundational challenges, of varying degrees of concern, to the state economy and, most particularly, the potential for today's aspirational young South Australians to find well-paid, challenging jobs. The risk of Santos's head office leaving Adelaide should not be dismissed lightly. A foreign takeover, as my colleague Giuseppe Tauriello observed on Wednesday, would significantly diminish the last corporate heavyweight left standing in South Australia. Santos dwarfs other SA companies for jobs, investment, sponsorship and general corporate clout. It is four times the size of the state's second biggest firm, Argo Investments, and more than eight times the size of third-ranking Codan. Business success matters in a state where the population is overwhelmingly concentrated in the capital, and most jobs are underpinned by state and federal government spending of some form. Santos and partner Beach Energy in January officially opened a nation-leading Moomba carbon storage project, billed as kickstarting a $600bn industry and hailed by Premier Peter Malinauskas as a 'historic day for our state'. Mr Malinauskas responded to the Santos takeover bid by declaring his government's 'priority at all times is to ensure that South Australian jobs remain in South Australia, and to maintain Santos' headquarters in Adelaide'. This will be a test of his government's mettle and resolve, along with its legislative levers that include ministerial approval for a change in controlling interest of a petroleum resources licence holder, like Santos. Opposition Leader Vincent Tarzia, in his Tuesday budget reply speech, predictably painted a bleak picture of a state ravaged by debt, skyrocketing costs, unaffordable homes and a floundering health care system. Nine months out from the next state election, he vowed to deliver a 'debt management plan' to ensure this was at 'a sustainable level'. Mr Tarzia declared the state was 'at a crossroads'. He was right, although the future is always uncertain. Mr Malinauskas has a strong story to tell on economic confidence, a historically low jobless rate and the state's standing in the nation. But he will be justifiably wary of overconfidence ahead of the state election, even if his opponents are at a historically low ebb in their standing. The state is facing some serious challenges and the Premier will need to be at the top of his game.
The Advertiser
06-06-2025
- Business
- The Advertiser
Steelworks sale on track despite hit on state budget
The sale of an embattled steelworks is progressing better than the state government had hoped, despite the toll on the budget of propping up the business. In the wake of the South Australian budget being handed down and the state being forced to absorb costs in keeping the Whyalla steelworks alive, Premier Peter Malinauskas is positive about the sale of the company. "We're actively engaged already with potential buyers for the steelworks," he told ABC Radio National on Friday. "In fact, that's going a little bit better than we had even hoped." In February, the state government took dramatic action in Whyalla, rushing through legislation so it could place the city's steelworks into the hands of administrators KordaMentha because of the mounting debts of OneSteel's owners, GFG Alliance. Since then, the SA government had ruled out taking an equity stake in the troubled steelworks but Mr Malinauskas said the federal government has not done the same. The federal government is "open-minded" to an equity stake and the state government will work in conjunction with them, Mr Malinauskas said. Supporting the administration of the Whyalla steelworks has taken a big hit on the state budget handed down on Thursday, with next year's surplus revised down from $449 million to $179 million. Mr Malinauskas said that it is partly the result of the state having to fund the administration 50-50 with the federal government until a buyer is found. "We're committed to sovereign steelmaking in this country and willing to bear the brunt of that hit," he said. The budget allocated $650 million towards the $2.4 billion Whyalla "sovereign steel" package announced jointly with the federal government in February. Treasurer Stephen Mullighan's state budget offered few sweeteners to residents, instead headlining with a $395 million "law and order" package to fund hundreds of extra police officers. The law and order package includes $172 million across six years to recruit 326 officers, lifting numbers to 5000 by 2030/31. More police security officers, civilianisation of administrative roles, and recruiting will deliver 630 extra police officers in frontline roles by 2031. The centrepiece was not welcomed by the opposition who said the government, which is facing an election in March, is "out of money and out of ideas". The budget also featured $73 million in already announced drought relief to relieve the escalating impact of near-record low rainfall across most of SA's farming regions in recent years. Mr Malinauskas has not ruled out further drought assistance if the conditions continue despite the pressure on the budget. "We're going to wait and see how the conditions unfold," he said. "There's a bit of (rain) forecast this weekend, we hope it buckets down, but if it doesn't, the government will continue to engage with our farming community." The sale of an embattled steelworks is progressing better than the state government had hoped, despite the toll on the budget of propping up the business. In the wake of the South Australian budget being handed down and the state being forced to absorb costs in keeping the Whyalla steelworks alive, Premier Peter Malinauskas is positive about the sale of the company. "We're actively engaged already with potential buyers for the steelworks," he told ABC Radio National on Friday. "In fact, that's going a little bit better than we had even hoped." In February, the state government took dramatic action in Whyalla, rushing through legislation so it could place the city's steelworks into the hands of administrators KordaMentha because of the mounting debts of OneSteel's owners, GFG Alliance. Since then, the SA government had ruled out taking an equity stake in the troubled steelworks but Mr Malinauskas said the federal government has not done the same. The federal government is "open-minded" to an equity stake and the state government will work in conjunction with them, Mr Malinauskas said. Supporting the administration of the Whyalla steelworks has taken a big hit on the state budget handed down on Thursday, with next year's surplus revised down from $449 million to $179 million. Mr Malinauskas said that it is partly the result of the state having to fund the administration 50-50 with the federal government until a buyer is found. "We're committed to sovereign steelmaking in this country and willing to bear the brunt of that hit," he said. The budget allocated $650 million towards the $2.4 billion Whyalla "sovereign steel" package announced jointly with the federal government in February. Treasurer Stephen Mullighan's state budget offered few sweeteners to residents, instead headlining with a $395 million "law and order" package to fund hundreds of extra police officers. The law and order package includes $172 million across six years to recruit 326 officers, lifting numbers to 5000 by 2030/31. More police security officers, civilianisation of administrative roles, and recruiting will deliver 630 extra police officers in frontline roles by 2031. The centrepiece was not welcomed by the opposition who said the government, which is facing an election in March, is "out of money and out of ideas". The budget also featured $73 million in already announced drought relief to relieve the escalating impact of near-record low rainfall across most of SA's farming regions in recent years. Mr Malinauskas has not ruled out further drought assistance if the conditions continue despite the pressure on the budget. "We're going to wait and see how the conditions unfold," he said. "There's a bit of (rain) forecast this weekend, we hope it buckets down, but if it doesn't, the government will continue to engage with our farming community." The sale of an embattled steelworks is progressing better than the state government had hoped, despite the toll on the budget of propping up the business. In the wake of the South Australian budget being handed down and the state being forced to absorb costs in keeping the Whyalla steelworks alive, Premier Peter Malinauskas is positive about the sale of the company. "We're actively engaged already with potential buyers for the steelworks," he told ABC Radio National on Friday. "In fact, that's going a little bit better than we had even hoped." In February, the state government took dramatic action in Whyalla, rushing through legislation so it could place the city's steelworks into the hands of administrators KordaMentha because of the mounting debts of OneSteel's owners, GFG Alliance. Since then, the SA government had ruled out taking an equity stake in the troubled steelworks but Mr Malinauskas said the federal government has not done the same. The federal government is "open-minded" to an equity stake and the state government will work in conjunction with them, Mr Malinauskas said. Supporting the administration of the Whyalla steelworks has taken a big hit on the state budget handed down on Thursday, with next year's surplus revised down from $449 million to $179 million. Mr Malinauskas said that it is partly the result of the state having to fund the administration 50-50 with the federal government until a buyer is found. "We're committed to sovereign steelmaking in this country and willing to bear the brunt of that hit," he said. The budget allocated $650 million towards the $2.4 billion Whyalla "sovereign steel" package announced jointly with the federal government in February. Treasurer Stephen Mullighan's state budget offered few sweeteners to residents, instead headlining with a $395 million "law and order" package to fund hundreds of extra police officers. The law and order package includes $172 million across six years to recruit 326 officers, lifting numbers to 5000 by 2030/31. More police security officers, civilianisation of administrative roles, and recruiting will deliver 630 extra police officers in frontline roles by 2031. The centrepiece was not welcomed by the opposition who said the government, which is facing an election in March, is "out of money and out of ideas". The budget also featured $73 million in already announced drought relief to relieve the escalating impact of near-record low rainfall across most of SA's farming regions in recent years. Mr Malinauskas has not ruled out further drought assistance if the conditions continue despite the pressure on the budget. "We're going to wait and see how the conditions unfold," he said. "There's a bit of (rain) forecast this weekend, we hope it buckets down, but if it doesn't, the government will continue to engage with our farming community." The sale of an embattled steelworks is progressing better than the state government had hoped, despite the toll on the budget of propping up the business. In the wake of the South Australian budget being handed down and the state being forced to absorb costs in keeping the Whyalla steelworks alive, Premier Peter Malinauskas is positive about the sale of the company. "We're actively engaged already with potential buyers for the steelworks," he told ABC Radio National on Friday. "In fact, that's going a little bit better than we had even hoped." In February, the state government took dramatic action in Whyalla, rushing through legislation so it could place the city's steelworks into the hands of administrators KordaMentha because of the mounting debts of OneSteel's owners, GFG Alliance. Since then, the SA government had ruled out taking an equity stake in the troubled steelworks but Mr Malinauskas said the federal government has not done the same. The federal government is "open-minded" to an equity stake and the state government will work in conjunction with them, Mr Malinauskas said. Supporting the administration of the Whyalla steelworks has taken a big hit on the state budget handed down on Thursday, with next year's surplus revised down from $449 million to $179 million. Mr Malinauskas said that it is partly the result of the state having to fund the administration 50-50 with the federal government until a buyer is found. "We're committed to sovereign steelmaking in this country and willing to bear the brunt of that hit," he said. The budget allocated $650 million towards the $2.4 billion Whyalla "sovereign steel" package announced jointly with the federal government in February. Treasurer Stephen Mullighan's state budget offered few sweeteners to residents, instead headlining with a $395 million "law and order" package to fund hundreds of extra police officers. The law and order package includes $172 million across six years to recruit 326 officers, lifting numbers to 5000 by 2030/31. More police security officers, civilianisation of administrative roles, and recruiting will deliver 630 extra police officers in frontline roles by 2031. The centrepiece was not welcomed by the opposition who said the government, which is facing an election in March, is "out of money and out of ideas". The budget also featured $73 million in already announced drought relief to relieve the escalating impact of near-record low rainfall across most of SA's farming regions in recent years. Mr Malinauskas has not ruled out further drought assistance if the conditions continue despite the pressure on the budget. "We're going to wait and see how the conditions unfold," he said. "There's a bit of (rain) forecast this weekend, we hope it buckets down, but if it doesn't, the government will continue to engage with our farming community."
West Australian
05-06-2025
- Business
- West Australian
Steelworks sale on track despite hit on state budget
The sale of an embattled steelworks is progressing better than the state government had hoped, despite the toll on the budget of propping up the business. In the wake of the South Australian budget being handed down and the state being forced to absorb costs in keeping the Whyalla steelworks alive, Premier Peter Malinauskas is positive about the sale of the company. "We're actively engaged already with potential buyers for the steelworks," he told ABC Radio National on Friday. "In fact, that's going a little bit better than we had even hoped." In February, the state government took dramatic action in Whyalla, rushing through legislation so it could place the city's steelworks into the hands of administrators KordaMentha because of the mounting debts of OneSteel's owners, GFG Alliance. Since then, the SA government had ruled out taking an equity stake in the troubled steelworks but Mr Malinauskas said the federal government has not done the same. The federal government is "open-minded" to an equity stake and the state government will work in conjunction with them, Mr Malinauskas said. Supporting the administration of the Whyalla steelworks has taken a big hit on the state budget handed down on Thursday, with next year's surplus revised down from $449 million to $179 million. Mr Malinauskas said that it is partly the result of the state having to fund the administration 50-50 with the federal government until a buyer is found. "We're committed to sovereign steelmaking in this country and willing to bear the brunt of that hit," he said. The budget allocated $650 million towards the $2.4 billion Whyalla "sovereign steel" package announced jointly with the federal government in February. Treasurer Stephen Mullighan's state budget offered few sweeteners to residents, instead headlining with a $395 million "law and order" package to fund hundreds of extra police officers. The law and order package includes $172 million across six years to recruit 326 officers, lifting numbers to 5000 by 2030/31. More police security officers, civilianisation of administrative roles, and recruiting will deliver 630 extra police officers in frontline roles by 2031. The centrepiece was not welcomed by the opposition who said the government, which is facing an election in March, is "out of money and out of ideas". The budget also featured $73 million in already announced drought relief to relieve the escalating impact of near-record low rainfall across most of SA's farming regions in recent years. Mr Malinauskas has not ruled out further drought assistance if the conditions continue despite the pressure on the budget. "We're going to wait and see how the conditions unfold," he said. "There's a bit of (rain) forecast this weekend, we hope it buckets down, but if it doesn't, the government will continue to engage with our farming community."
Perth Now
05-06-2025
- Business
- Perth Now
Steelworks sale on track despite hit on state budget
The sale of an embattled steelworks is progressing better than the state government had hoped, despite the toll on the budget of propping up the business. In the wake of the South Australian budget being handed down and the state being forced to absorb costs in keeping the Whyalla steelworks alive, Premier Peter Malinauskas is positive about the sale of the company. "We're actively engaged already with potential buyers for the steelworks," he told ABC Radio National on Friday. "In fact, that's going a little bit better than we had even hoped." In February, the state government took dramatic action in Whyalla, rushing through legislation so it could place the city's steelworks into the hands of administrators KordaMentha because of the mounting debts of OneSteel's owners, GFG Alliance. Since then, the SA government had ruled out taking an equity stake in the troubled steelworks but Mr Malinauskas said the federal government has not done the same. The federal government is "open-minded" to an equity stake and the state government will work in conjunction with them, Mr Malinauskas said. Supporting the administration of the Whyalla steelworks has taken a big hit on the state budget handed down on Thursday, with next year's surplus revised down from $449 million to $179 million. Mr Malinauskas said that it is partly the result of the state having to fund the administration 50-50 with the federal government until a buyer is found. "We're committed to sovereign steelmaking in this country and willing to bear the brunt of that hit," he said. The budget allocated $650 million towards the $2.4 billion Whyalla "sovereign steel" package announced jointly with the federal government in February. Treasurer Stephen Mullighan's state budget offered few sweeteners to residents, instead headlining with a $395 million "law and order" package to fund hundreds of extra police officers. The law and order package includes $172 million across six years to recruit 326 officers, lifting numbers to 5000 by 2030/31. More police security officers, civilianisation of administrative roles, and recruiting will deliver 630 extra police officers in frontline roles by 2031. The centrepiece was not welcomed by the opposition who said the government, which is facing an election in March, is "out of money and out of ideas". The budget also featured $73 million in already announced drought relief to relieve the escalating impact of near-record low rainfall across most of SA's farming regions in recent years. Mr Malinauskas has not ruled out further drought assistance if the conditions continue despite the pressure on the budget. "We're going to wait and see how the conditions unfold," he said. "There's a bit of (rain) forecast this weekend, we hope it buckets down, but if it doesn't, the government will continue to engage with our farming community."
Sky News AU
16-05-2025
- Business
- Sky News AU
Qantas announces first international flights out of Adelaide in more than a decade with new service to Auckland
Qantas has announced it is launching international flights out of Adelaide for the first time in more than a decade, but only on a seasonal basis. The flying kangaroo has not flown an overseas route out of the South Australian capital since 2013 when it axed flights to Singapore. But that will change on October 31 when Qantas services between Adelaide and Auckland commence. The Boeing 737 flights will operate four times per week until May 3 next year, with Qantas competing against Air New Zealand, which already operates the route. Qantas said that in addition to connecting South Australia and New Zealand, it will provide a one-stop service to New York through its Auckland-New York service. South Australian Premier Peter Malinauskas appeared hopeful that Qantas would continue to grow its international network out of Adelaide after such a long hiatus. "It is great news that Qantas is re-establishing a direct international flight out of Adelaide with this new service to Auckland," Mr Malinauskas said. "There is no better friend to Australia than New Zealand – and this connection is only set to bring us even closer. "It also connects South Australians through to New York City with a single stop, strengthening our bond with a key economic and AUKUS partner. "We hope that this marks the beginning of a long-term commitment by Qantas to grow their international services out of Adelaide." Tourism Minister Zoe Bettison noted that "New Zealand is presently the equal second biggest source market for visitation to South Australia - behind only the UK and equal with China". 'Tourism expenditure from New Zealand grew by 29 per cent in the last year, with 48,000 visitors coming to South Australia in 2024," she said. "We invite our friends across the ditch to come and experience the simple pleasures of South Australia – to taste our premium food and wine, experience our natural beauty, and enjoy a plethora of events and festivals across the calendar." The announcement comes less than two weeks after Qantas confirmed it was launching seasonal flights between Perth and Auckland from December 8. The Airbus A330-200 flights will operate three times per week. Earlier this year, Mr Malinauskas revealed United Airlines will commence seasonal flights between San Francisco and Adelaide on December 11. Airlines which currently operate international flights out of Adelaide include Fiji Airways, Emirates, China Southern, Jetstar, Malaysia Airlines, Qatar Airways, Singapore Airlines and Air New Zealand.
