AAA RATING WAS FOLEY'S OBSESSION - SHOULD NOT BE SNELLING'S

23 September 2011

SA Unions says the State Government should ignore the threats of international ratings agency Standard and Poors about our credit rating.

Secretary, Janet Giles is asking why we are listening to overseas rating agencies - which are not accountable to South Australians - when it comes to delivering services to the community.

"These pin-stripe suited economists don't live here, don't know how important public services are to our community and shouldn't be threatening out State Government with a downgrade."

"The Australian and South Australian economies are strong by international standards, and we feel confidence about the future of our State, despite what's happening in Europe and the United States."

"Kevin Foley carried the AAA rating like a trophy, which led to one of the worst budgets in our history with the loss of more than three thousand jobs."

It's now time to move on and realise that a AAA credit rating - on the backs of thousands of job losses, cuts to services, and injured workers - is no trophy at all."