Golf day to help Legacy

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Last year more than 90 golfers teed off at the Grange Golf Club to support the fourth annual Legacy Charity Golf Day, and golf day organiser Phil Rath hopes to reach the 100 mark this Friday.

He is also hopeful the fifth running of the increasingly popular golf day will once again raise at least $5000 for Legacy.

He said Legacy was dedicated to the welfare of widows and dependants of Australian Defence Force personnel killed in war, peacekeeping or hazardous service, or who have died subsequently.

Across Australia Legacy assists more than 100,000 widows and 1900 children and people with a disability.

With about 950 widows and dependants enrolled in the local area (Helensburgh to Gerringong), Legacy services are continually being required to assist those in need.

‘‘We don’t get any funding so whatever we raise goes to widows and their dependants,’’ Mr Rath said.

The golf day will start with a breakfast in the clubhouse from 7am-7.45am, before a shotgun tee-off at 8am.

Two drinks will be provided on the course and golfers will be served steak with salad after playing the game.

There will also be a raffle with an accommodation package at The Esplanade at Batemans Bay as first prize. The $60 entry fee includes breakfast, lunch and green fees.

Information: 0417 042 888

Pat Osmond, Phil Rath and Coralie Wilson will take part in the annual Legacy Charity Golf Day at the Grange Golf Club this Friday. Picture: GREG TOTMAN

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Panthers’ spirit shines

Vivian Blurton. Luke Obal.
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The Lion’s Branden Harris

Timothy Yarren

Ruckman Timothy Jubb and Carey Park’s Jayden Wilson

John Klumpp and Carey Park’s Shannon Spadaccini.

Carey Park.

Vivian Blurton.

Carey Park’s Jordan Baggetta and the Lion’s Ethan Hughes.

FOOTBALL: It was a nail-biting ANZAC day clash last Thursday when the Carey Park Panthers performed a spirited come from behind victory in front of a home crowd to win by two straight kicks over the Harvey-Brunswick-Leschenault Lions at Kelly Park.

The game drew a massive crowd and did not disappoint the spectators, with the lead changing four times in the last quarter to ultimately see Carey Park over the line with a 17.12-114 to 15.12-102 victory.

HBL opened up the game with a bang posting a five-to-two goal first quarter, as Captain David Newman let go of one of his trademark punts to get the score ticking over.

Best on ground Cody Garlett was able to convert for the Panthers through some hard midfield work from Jake Omara, but Newman hit back with another goal, as HBL got on top of the Panthers early, leading by 19 at the first change.

The Panthers opened the second term with some hard efforts from Liam Stewart ending in a goal for Carey Park, but HBL soon hit back with two of their own.

However Carey Park was able to halve the play in the second and stop the Lions run, as half time hit with the Lions still only leading by 19 points.

The third quarter came about and Carey Park needed to spark soon, and a goal from young gun Tim Yarran was able to help the Panthers find their feet.

Calum Leslie soon followed and the Panthers were able to reduce the lead to 8 points, however Jarrad Watson was able to convert for the Lions to help keep Carey Park at an arm’s length.

Lukas Teague then goaled for the Lions and it was quickly back out to a three goal margin.

However more work from Yarran and some serious pace through the midfield from Joel Coyne saw the Panthers convert through forward specialists Garlett and Matt Martin. Small forward Aaron Hill then set himself for two goals in a row and all of a sudden the Panthers had taken the lead.

However Brayden Prentice was able to sneak a goal in on the three quarter time siren, allowing the Lions a three point lead at the final change.

The fourth quarter started with teams evenly matched going goal for goal throughout the first fifteen minutes.

It wasn’t until Hill was able to kick his third that the Panthers strung together consecutive goals, as Jai Grantham was able to kick truly through more hard work from Yarran.

Prentice however soon goaled again, followed shortly by Hill for his fourth, and then HBL’s John Klumpp, to keep the Panthers lead in doubt.

Carey Park soon went forward again to Martin, who had struggled in contested marks all day due to Scott Delmenico’s defensive efforts. The ball hit the deck and was surrounded by ready-to-pounce Lions.

The Lions moved it quickly but to no avail as O’mara was able to take the saving mark and give it to Leslie for a goal, sealing the deal for the Panthers.

Carey Park will travel to Busselton next week to take on the Magpies, while HBL will pay a visit to Payne Park to take on Ryan Pitts’ Bulldogs.

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Great crowd gathers for ANZAC Day greyhound race

Last Thursday the Port Augusta Greyhound Club held its Anzac Day meeting.
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The weather was delightful and as usual the crowd was one of the biggest of the year.

Damien Mills, who travels from Woodcroft to Port Augusta for each meeting, trains Azz Always, which won the 682 metre distance event.

Another regular supporter is Peter Slater, who travels from Broken Hill to race his dogs at Chinnery Park.

Peter’s dog Jet Fields won its race, the third win over 447 metres at this track.

Many thanks go to ‘Della’, who has spent a lot of time and demonstrated much skill in the recent improvements he has made in and around the clubrooms.

The club is very proud of the work that Della has done and the Anzac Day crowd were all impressed.

Coming meetings include The Patrons 447 metre Free For All, to be held on May 11 and the 682 metre Anniversary Cup on May 25.

PRESENTATION: Local member for Stuart Dan van Holst Pellekaan presents Azz Always’ trainer and owner Damien Mills with the trophy.

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Kings sucked into Game of Thrones

Kings for a …? The Southern Kings will be playing for their very survival in their maiden season in Super Rugby when they take no the Waratahs. Photo: Gallo ImagesPort Elizabeth: Super Rugby’s newest side has more than respect and legitimacy to play for; the Kings are playing for sheer survival.
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As the controversial new entrants to the South African conference, having taken the place of the under-performing Lions towards the end of last year, there are no guarantees of a future beyond this season.

Despite toppling the Western Force to become the only Super Rugby debutants to win their first game, the Kings continue to track at the bottom of their conference and will face the Lions in a two-game promotion-relegation fixture if the status quo remains.

And while it is impossible to imagine the Rebels – Australia’s youngest club – having to operate under such uncertainty, it has been a daily reality for Kings staff and players who have no capacity to plan or look ahead.

Kings director of rugby Alan Solomons said early on he decided he could not worry about anything beyond the next game.

“The key thing for us is that we’ve got to do the best we can in every game, and if at the end despite that we have to play promotion-relegation that’s the hand we’ve been dealt and we have to deal with that,” he said.

“But I’m pretty confident we’ve developed as a side, and we are absolutely determined to remain in Super Rugby.”

Solomons and his head coach, the former Canterbury and Crusaders hooker Matt Sexton, made just one change to the side that succumbed to the Cheetahs in Bloemfontein last week, returning prodigal young winger Sergeal Petersen to the starting line up after the 18-year-old was cleared of a groin strain.

Captain Luke Watson, who fractured cartilage in his throat against the Force in round one, will again be on the bench, leaving intact promising back row trio Jacques Engelbrecht, Wimpie van der Walt and Cornell du Preez.

Solomons said there was no formula to the side’s success against Australian sides, and a win against the Waratahs would not come easily.

“It’s just worked that way … we were a determined lot against the Brumbies [28-28 draw] and we played very, very well in that game,” he said.

“Aganst the Rebels we didn’t play as well but I think we deserved the win, while the Force was our opening game, and it was going to take a lot to beat us. There was a lot of emotion running high.”

Solomons gave nothing away about how the Kings would tackle the Waratahs, and was coy when asked if he had pored over footage from last week’s loss to the Bulls. Stand-in captain Andries Strauss signalled he did not want his side drawn into a fight they could not win.

“They do throw the ball around a lot and play from anywhere on the field,” he said.

“Ideally we’d like to stick to our structures and not fall into the trap of throwing the ball around willy-nilly. We’re really just focusing on doing the things we want to do right, and hopefully we can get the right result.”

Kings: George Whitehead, Sergeal Petersen, Ronnie Cooke, Andries Strauss (c), Siyanda Grey, Demetri Catrakilis, Shaun Venter, Jacques Engelbrecht, Wimpie van der Walt, Cornell du Preez, Rynier Bernardo, Steve Sykes, Kevin Buys, Bandise Maku, Schalk Ferreira. Reserves: Virgile Lacombe, Grant Kemp, David Bulbring, Luke Watson, Nocola Vergallo, Waylon Muray, Siviwe Soyizwapi

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Mariners in SOS to Socceroos

Central Coast Mariners coach Graham Arnold will ask Socceroos boss Holger Osieck for a helping hand next week as he hopes to arrange a friendly between the Mariners and the Australian national team.
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After successfully qualifying for the knockout stages of the Asian Champions League, Arnold will give his players the next four days off to recover from what has been an arduous campaign, having also claimed the A-League championship last month.

But he hopes he can spike his side’s sharpness after the mini-break with a friendly against the Australian team in Gosford, where the A-League-based Socceroos will be in camp in the lead-up to next month’s decisive World Cup qualifier matches.

“I’ll have to maybe ask a favour off Football Federation Australia,” he said. “The Socceroos are in camp next week and we need a game. It’d be great if we could play the home-based Socceroos in a friendly game next Thursday just to keep us fit.”

The FFA confirmed to Fairfax Media that it would be more than possible – but it requires Osieck’s approval first.

The Socceroos will be staying in the region for a camp that crosses over with one being staged by Young Socceroos, who are beginning their preparations for the under-20 World Cup in Turkey next month.

Arnold is keen for his Mariners to have a hit-out against both sides.

“I had a brief discussion with Gary Moretti [Socceroos team manager],” he said. “They need a game, the under-20s need a game, [and] we can accommodate both teams. If they’ll help us, that’ll be fantastic because we need a game.”

The first leg of the Mariners’ round of 16 ACL match is at home on May 15 before the return leg will on May 22.

Central Coast’s opponents won’t be known until Wednesday night, when the two top teams in Group F – China’s Guangzhou Evergrande and South Korea’s Jeonbuk Motors – square off at Guangzhou’s Tianhe stadium.

Despite losing a 3-2 thriller against Urawa Red Diamonds last week, the Chinese side has a one-point advantage over Jeonbuk.

The Mariners will face whoever finishes top of the group, while the second-placed team will play Kashiwa Reysol, who disposed of the Mariners 3-0 at Bluetongue Stadium on Tuesday night.

Arnold said he was holding himself responsible for what happened in the second half, when the visitors scored all three goals.

“I take responsibility from 1-0 on because I thought the first 60 minutes we were really good value,” he said. “When they got the goal against the run of play we went man on man over the whole park. We tried to press high, and that gave them more space.

“When you give quality players more space they hurt you but we had to go for it, and we couldn’t rely on the other result. We had to try and get it back and win the game ourselves. We opened up, we gave too much space and we played into their hands.”

However, in the end, the Mariners had to rely on the other result – and it came up trumps, with Suwon Bluewings holding on for a 2-2 draw away to Guizhou Renhe.

Only last week did the Mariners’ end Suwon’s hopes of qualifying from the group stages with a stunning 1-0 win.

“We’ve got to thank Suwon but the result last week was the result that got us into the last 16,” he said. “It’s a wonderful history-making moment.”

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Slow and steady wins the race

Planting slow maturing wheat varieties earlier in the year could be the answer to maintaining high yields in Southern Australia, despite its changing climate.
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Research carried out with support from the Grains Research and Development Corporation (GRDC) shows slow maturing varieties planted earlier in the year have a better chance of delivering consistently high yields for growers in the Southern Cropping Region.

Dr James Hunt, a Commonwealth Scientific Industrial Research Organisation (CSIRO) researcher, said planting slow maturing varieties as early as mid April could let crops take advantage of precious stored soil moisture.

“It turned out that those slow maturing varieties planted early could take much better advantage of that stored soil water and had quite a significant advantage over main season varieties sown in May,” he said.

“What having a slow maturing variety in a wheat program allows you to do is open up your sowing window so you can take advantage of small rainfall events when they come.

You can start taking advantage of small events when they come as far back as April, or with winter wheats, back in March.

“In the last 17 years there’s been a marked decline in April and May rainfall.

“What that has meant is that we have less sowing opportunities in that main season period.

“There hasn’t been a decline in February/March rainfall – if anything it’s increased, and you can start to use that to replace our traditional autumn break.”

The research project monitored four wheat varieties planted across trial sites at Lake Bolac and Westmere (Victoria) in the high rainfall zone, Temora and Junee (NSW) in the medium rainfall zone, and Condoblin (NSW) in the low rainfall zone, with each variety planted between mid-April and late May. Results showed slow maturing variety EGA EagleHawk sown in mid-April outstripped the mid-fast variety Lincoln sown in mid-May by 0.8 tonnes/ha at Temora in 2011 and 2.1 tonnes/ha at Junee in 2012.

Although dry conditions late in winter at Condoblin meant all varieties sown mid-April to mid-May had roughly the same yields, low density plantings benefitted the yield of slow maturing varieties Eaglehawk and Bolac, but reduced yield in fast maturing wheats sown later.

Eaglehawk sown in mid-April at 30 plants/m² out-yielded Lincoln sown in mid-May at 90 plants/m² by 0.4 tonnes/ha in 2011 and 0.6 tonnes/ha in 2012.

High density plantings of Bolac at Lake Bolac yielded 7.0 tonnes/ha, compared to a mid maturing variety at 6.6 tonnes/ha and the fast maturing variety at 6.0 tonnes/ha, planted in late April, early May and late May respectively.

Bolac and mid-maturing variety Derrimut also performed well at Westmere when planted in early May.

Dr Hunt said early planting allowed slow maturing varieties to generally use stored soil moisture far better than faster maturing wheats.

“The main reason for the yield difference is that with slow maturing varieties, when you sow them early, they’re in the ground a lot longer, so their roots are able to use stored soil moisture much more efficiently,” he said. “They also lose less water to evaporation because they cover the soil surface faster because they’re developing at a time when the soil surface is warm and the air’s warm.

“They also have a longer stem elongation phase, which is when grain number is determined, so they grow a lot during that time and set a very large grain number, and thus yield.”

o CSIRO researcher, Dr James Hunt.

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Better understanding our schools

INDONESIAN VISIT: Education Secretary of Lutheran World Federation Ridwin Purba, Navigator College principal Kaye Mathwin-Cox and Gereha Kristen Protestan Simalungan (GKPS) school principal Jintan Saraghi at the college this week.TWO Indonesian education representatives visited Port Lincoln this week to better understand how local schools work.
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Lutheran World Federation education secretary Ridwin Purba and Gereha Kristen Protestan Simalungan (GKPS) school principal Jintan Saraghi spent the week at Navigator College to see how they could better understand the way students are taught and mirror management systems at the school.

Mr Purba said the visit was to observe and take practises back to Indonesia to use and better schools in the country.

“We will take what is useful back … this might mean a system of management of how to model a school,” he said.

“Things are really different in Indonesia.”

Mr Purba said he would also observe teaching practises and also the lutheran way of the school.

Navigator College principal Kaye Mathwin-Cox said the visit was a great opportunity for the school as well as enhance the partnership between the college and GKPS.

She said there was as much the college could learn from GKPS as their Indonesian counterparts could learn off them.

“When we went to Indonesia last year, it was their way of life to respect and honour their families,” she said.

“Everything is about the family bond.”

Mrs Mathwin-Cox said the 10 students that participated in the school’s trip to Indonesia last year came home with a different perspective that could be carried over to school life.

“With a new understanding, they found in Indonesia, because they have less then we have, they appreciate what they get.”

The school hosted a cultural experience on Tuesday night for students and parents, and an assembly yesterday also highlighted Indonesian culture with Mr Purba and Mr Saraghi conducting the morning chapel.

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No 1 for graphite

NO 1: Lincoln Minerals says the region is the number one graphite region in Australia.THERE is little doubt Eyre Peninsula has become the number one graphite province in Australia, according to Lincoln Minerals.
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Addressing the second day of the Paydirt 2013 South Australian Resources and Energy Investment Conference at the Adelaide Convention Centre yesterday, Lincoln’s managing director Dr John Parker said the emerging graphite industry on Eyre Peninsula should have every confidence of going from strength to strength with the potential for numerous projects to move from possibility to probability.

“With the round of fresh results coming this year from the three or four graphite focused explorers on the peninsula, it is now reasonable to expect that there are going to be several world class graphite deposits identified in the region,” Dr Parker said.

Dr Parker said there was an exploration target of between 7 and 20 million tonnes of graphite at Lincoln’s wholly-owned Kookaburra Gully project (near Koppio) alone, and there were other significant electromagnetic anomalies in the nearby vicinity.

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“Many of the emerging targets are high grade graphite, and that positions Eyre Peninsula through deposits such as Kookaburra Gully in the top 10 graphite resources globally.”

Lincoln has defined an indicated and inferred resource of 2.25 million tonnes at Kookaburra Gully, has completed scoping studies across the project, and is pursuing the establishment of a $2 million pilot plant on site by early next year to provide processed graphite samples for sampling and testing by potential international customers.

It will be undertaking further drilling later in 2013 on the Kookaburra Gully Extended project with the aim of delivering a maiden resource, with similar work on the historic Koppio graphite mine near Kookaburra Gully to update by early 2014 the historic resource estimate of 57,000 tonnes of contained graphite.

The scoping study estimated a processing plant could be constructed and commissioned on site at Kookaburra Gully at a capital cost of around $38 million.

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Scouts venture into hall deal

Murray Bridge Scouts Ryan Allchurch, Callum Tasker, Samuel Montgomery-Pittaway, Sophia Allchurch, front, Nickisha Crouch, Paris Montgomery-Pittaway and Sarah Tasker are ready to help get their Adelaide Road Scout Hall back in order.THE Murray Bridge Scout Group will remain in its Adelaide Road headquarters after a stand-off with the Murray Bridge council ended late last month.
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The council said 18 months ago it would strip Scouts SA of its lease over the ageing hall, giving the group three months notice to vacate the building in September 2011 and citing a maintence backlog worth almost $200,000.

The decision sparked an outcry from local Scouts members and an argument over the original 75-year-old leasing conditions of the hall until councillors voted last month to accept a compromise that would see the group remain in the building.

There are conditions on the 20-year deal though.

The council has insisted Scouts accept a five-year works schedule to fix drainage and structural issues, committing $70,000 this financial year to assist them while Scouts have agreed to contribute $20,000 this year and more in subsequent financial years.

If Scouts do not keep up with the $170,000 of upgrades the council has reserved the right to remove the lease with three month’s notice.

Council contracts manager Malcolm Downie said the two groups met mid-April to discuss terms of the agreement and that work would start shortly.

“A lease will be sent to Scouts SA for execution shortly in accordance with the terms and conditions of council’s resolution,” he said.

“Contractors are expected to commence work from Monday, April 29, to replace the roof cladding, upgrade the electrical switchboard and wiring, underpin the rear extension, install a retaining wall on the eastern boundary, remove the asbestos lining in the shower alcove and replace the front entrance portico with a lightweight structure in keeping with the original design.”

Scouts SA chief executive officer Dan Ryan said the agreement was a great result for both Scouts and the council.

“We’re very excited with the fantastic result and it’s good to see the council and Scouts working together for the mutual benefit of the youth of Murray Bridge,” he said.

Mr Ryan said Scouts had always intended to invest in the hall and he was pleased to see the council accept its plans to improve the facility.

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Council’s four year service delivery plan

Snowy River Shire councillors and staff have completed their review of the Integrated Planning & Reporting (IPR) documents, that outline the delivery of services for the next four years.
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The Draft Delivery Program 2014 – 2017 and Operational Plan 2014 that includes the 2014 Budget, are just two of the IPR documents, with the full suite being endorsed for public exhibition at last the April Council meeting.

The endorsement followed several months of workshops with councillors and senior staff members to determine the direction of these plans, setting of priorities and goals for delivering services to the community for the term of the council.

“Like all businesses, council needs to determine priorities and goals within a set budget. Extensive state government funding cuts and the increasing limitations for local governments agencies to secure grant funding means that now more than ever council need to prioritise its level of service to the community”, explained the general manager Joseph Vescio.

“This has meant that councillors have directed for their four year term of council, that our number one priority be our transport infrastructure, i.e. roads – the repair of our extensive road network. This prioritising of services, has meant that some projects have been placed upon the back-burner, to be revisited at a later stage.

“Just like your household budget – you can’t do all of your desired projects in the one year, it must be planned out and achieved over time.”

The IPR suite of documents will be on public exhibition until May 22, and can be viewed in hard copy at council offices Razorback Office, SPAR Supermarket, Adaminaby and Iona Gardens, Dalgety, or online at Council’s website: www.snowyriver.gov.nsw.au.

If you wish to comment, please forward a written submission titled “Submission Draft IPR Documents 2013”, to the general manager.

Blood test could be key to Alzheimer’s detection

A blood test could soon identify people at risk of developing Alzheimer’s disease, after Australian scientists identified a series of markers associated with the degenerative condition.
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The blood-based biological markers identified are associated with the toxic protein called amyloid beta, which builds up in the brain.

CSIRO research scientist Samantha Burnham said levels of the protein were found to reach abnormal levels at about 17 years before dementia symptoms, such as memory loss, appear.

”We’re buying time with this,” Dr Burnham said. “If we can get this early identification, then we can intervene with people at risk of this disease.”

Being able to identify the disease in its early stages is critical, as it could allow intervention before irreversible damage is inflicted on the brain.

Noel Faux from the Florey Institute of Neurosciences and Mental Health said the progressive build up of the toxic protein was one of the earliest known changes in the brains of Alzheimer’s patients.

Seven markers in the blood have been identified by the researchers, who hail from CSIRO, the Florey Institute of Neurosciences and Mental Health, Edith Cowan University and the National Ageing Research Institute.

They are now trying to refine the way the blood is processed to make the test quick, affordable and effective. Currently tests conduced in America measure around 200 items in the blood, which costs time and money. But with the key markers narrowed down to seven, researchers are developing a more targeted test.

Two other factors – age and results of a cognitive test– are also used in diagnosis of Alzheimer’s disease.

“We are hoping that within a five to ten year timeframe we will be able to roll this out as a frontline screening tool,” Dr Burnham said.

Published in the journal Molecular Psychiatry, the researchers worked with 273 volunteers aged over 65. Some had been diagnosed with Alzheimer’s disease, while others were healthy but concerned they might be experiencing memory loss.

The volunteers underwent brain scans and neuro-psychological tests as well as providing blood samples and their medical history.

”The bloods were analysed to measure the levels of about 250 different items in the blood,” she said. “We then did some quite complex mathematical modelling to identify which of those 250 measurements and in what combination would match up to the brain scans.”

Thousands of mathematical models were tested during this process, which took three years.

Alzheimer’s Australia estimates there are more than 321,600 Australians living with dementia. By 2050, the ageing population means this could be as high as 900,000. Currently there are about 1700 new cases of dementia diagnosed in Australia each week.

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Why Queensland didn’t need to sell the family farm

Back in July last year Queensland Premier Campbell Newman was in a very black mood. All was gloom and doom in the Sunshine State, as he warned Queensland was “on the way to being bankrupted” without tough action. Back then, his government was shaping up to do a Jeff Kennett, painting the grimmest of pictures that would justify massive cuts to the Queensland public sector, just as the former Victorian premier did in his first term in power.
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Yesterday was the day when it was all meant to come together, with Newman having to make the biggest call of his political life. In announcing his government’s response to an audit of the state’s finances, he had to decide whether his Government would support the sale of major pieces of Queensland’s “family farm” – particularly the state’s multi-billion-dollar power assets.

To the surprise of many, and despite a lot of pressure from the money men at the top end of town, Newman declared “we will save the farm”, rather than “taking the easy way out and having a fire sale of assets”. Instead, he outlined a much quieter and in some ways craftier program of outsourcing and competitive tendering. Private operators are likely to end up leasing and running more state-owned services, from ports, trains and buses, through to health care, including elective surgeries.

Queenslanders are no friend of privatisation, that’s for sure. Only 14 months ago, they savagely punished the Bligh Labor government for going down this path without a mandate. It would need a pretty strong case to convince a seasoned politician like Newman to try that option again. So how strong was the case in favor of a fire sale?A closer look at the books

Just days after being elected, the Newman government appointed former federal Treasurer Peter Costello to lead a A$2.2 million audit of Queensland’s finances. The 1000-page final report – released in full yesterday – recommended selling the state’s electricity and port assets to raise more than A$25 billion and rapidly reduce debt.

Costello continued the hard sell right up until the last moment, including inside the cabinet room for his final briefing to MPs. In an article in the Australian Financial Review that cited a debt figure of A$82 billion, Costello declared: “Queensland has a problem. Its credit rating has been downgraded, it’s paying higher and higher interest costs and something has got to happen… If it doesn’t change, it’s just going to get worse and worse.”

But just how gloomy is the Sunshine State’s budget outlook?

While A$82 billion sounds like a lot of debt, the picture was always more complex than Costello would have us believe.

General government balance sheet, Mid-Year Economic and Budget Update, p.15 (click to enlarge)

This table is taken from last December’s Mid-Year Economic and Budget Update. It shows the state’s general government balance sheet for the period from 2011/12 through to 2015/16. While it is true that gross debt or total liabilities will exceed $80 billion this financial year, the net debt figure (or gross debt less financial assets) is very different.

The Queensland general government sector in fact had no net debt in 2011/12. And while net debt is projected to grow to a peak of A$9.6 billion by 2013/14, it then starts to fall and then continues its downward trajectory.

Still, you might say, A$9.6 billion is a lot of money to owe. That would be true were we talking about a household or a business – but not for the Government of Queensland, which can tax its citizens to pay the bills and tax them more heavily if it really has to do so. Queensland is, after all, one of Australia’s lowest-taxed jurisdictions, with its per capita taxation in 2012/13 more than $450 below than the Australian average.

But according to Costello’s Commission of Audit, net debt is not the best measure of the state’s liabilities. It includes the financial assets that have been built up to fund the state’s super schemes and which therefore are not available to cover the gross debt on issue. It recommends a different measure, called net financial liabilities:

“As the net debt measure includes investments, it takes account of the large investments Queensland uses to offset its superannuation liability, it does not take account of the liabilities. Under existing Government policy, these investments are held to meet the State’s superannuation liability. Because these investments are not available to reduce gross debt, net debt is not a suitable metric to target in setting an appropriate fiscal strategy… The Commission consider that the most suitable measure of debt is the concept of net financial liabilities”.

The State’s net financial liabilities (A$39 billion in 2011/12) are much higher than its net debt, and it is this that needs to be paid down. But how good is this as a measure of the State’s balance sheet? The answer is not very, because it ignores the physical and other assets that are crucial to the balance sheet equation (worth a cool A$182 billion in 2011/12).What’s a worthier economic measure?

Net worth is generally considered to be a better measure, for it includes all assets and liabilities and not just those that are financial. Far from being in trouble, Queensland is in fact well and truly in the black according to this measure, with a net worth in the general government sector exceeding A$170 billion in 2011/12, climbing steadily to almost A$180 billion not long after the next scheduled election.

All this is not to say that the Queensland budget is in fine shape. Far from it. But its problems stem not from its balance sheet but the substantial gap between operating income and expenses. Queensland’s operating budget shifted from surplus to deficit in four very difficult years, when revenues went into an unexpected spin and have yet to fully recover. This year the deficit is tipped to exceed A$11 billion, which is very large on any measure and would seem to be genuine cause for concern.

However, this includes one-off expenses associated with flood damage that cost more than A$4 billion. It also includes almost A$1 billion set aside for redundancies arising from Newman’s first budget. When these are excluded, the deficit is a more manageable A$6.3 billion. This is still large, but importantly is not tipped to last forever.

Fiscal balance, Mid-Year Economic and Budget Update, p.4

The Mid-Year Economic and Budget Update also shows that the operating account is projected to return to surplus by 2014/15, with the corrective measures already put in place being enough to turn the ship around without the need for any more drastic action.

If Queensland’s debt is not large, its net worth is positive, and the government by its own admission reckons it is on track to achieve its financial principles, why bother with a massive asset sales program that would antagonize the people?

Far better to be crafty and privatise services in other ways, through an outsourcing and competitive tendering program that can turn the public sector inside out, but hopefully jeopardise fewer MPs’ seats. For Premier Campbell Newman, who resides in a marginal electorate himself, hearing that the money men are disappointed may not be such a bad thing.

This article was originally published at The Conversation. Read the original article.

This story Administrator ready to work first appeared on Nanjing Night Net.

Naitanui rated a chance to return

Eagles coach John Worsfold says Nic Naitanui is a chance to return to the West Coast side this weekend. Photo: Sebastian CostanzoWest Coast coach John Worsfold is yet to decide whether to play star ruckman Nic Naitanui in Sunday’s AFL clash with the Western Bulldogs.
Nanjing Night Net

Naitanui has finally recovered from off-season groin surgery but Worsfold said the 22-year-old may spend another week in heavy training to further build up his match fitness before returning for the Eagles.

“Nic’s going really well,” Worsfold said on Wednesday.

“He’ll play if he’s declared available.

“But the level of which he’s available will determine whether he plays or not this week.

“It’s not really up to Nic now. The idea is he plays and doesn’t pull up sore. We want him to play longer and stronger next week and the week after. It’s more about how we want to manage him about whether he plays or not this week.

“If he can only cope with 70 minutes, we’ve got to make that call. Do we want to play him knowing he can play for 70 minutes?

“If he can only play for 30 minutes, then he probably won’t play for us. And with Swan Districts having a bye, then he’ll just train up this week and be available for more minutes next week.”

Former Magpie Sharrod Wellingham, who starred in the WAFL last week in his first match back from an ankle injury, and wingman Matt Rosa are strong chances to earn call-ups.

Defender Adam Selwood (back) and Andrew Embley (foot) are also in contention.

Worsfold said midfielder Matt Priddis, who was concussed in last week’s loss to Port Adelaide, had pulled up well and was in line to play against the Bulldogs.

Skipper Darren Glass is available to play after having his two-match suspension overturned by the tribunal.Follow WAtoday on Twitter

This story Administrator ready to work first appeared on Nanjing Night Net.