Labor drags its heels on new investment agency

The State Liberals have accused the Weatherill Labor Government of dragging its heels over the creation of the new Investment Attraction Agency.

In Estimates last year, Minister Hamilton-Smith stated that InvestSA would be subsumed into a new investment agency.  

In September, Minister Hamilton-Smith announced the formation of this new agency – the Investment Attraction Agency – stating: “We’ll be hitting the ground running” (Indaily, 11/09/15).  

However, five months later and a Board has still not been appointed.  

In fact, the Agency advised last week that the make-up of the board is still being considered by Cabinet.  

Martin Hamilton-Smith now needs to tell South Australians:  

1. Why a Board hasn’t been appointed for five months? 

2. How much of this fund has been spent? 

3. How have the applications been assessed? 

4. Who has assessed the applications to date?  

“Given the poor state of the South Australian economy, it is unbelievable that this has not been a priority for the Weatherill Labor Government,” said Shadow Minister for State Development Vickie Chapman.  

“The Weatherill Labor Government, and Minister Hamilton-Smith in particular, have really dragged their heels over the creation of the Investment Attraction Agency.  

“Minister Hamilton-Smith admitted that the previous investment agency initiative, InvestSA, “probably did not work quite as we had hoped”.  

“Hopefully the same will not happen with the new Investment Attraction Agency, given the importance of investment in South Australia to grow the economy.”