South Australia to lose $308 million in GST, Federal Budget reveals SOUTH Australia stands to lose an estimated $308 million in GST, the Federal Budget update reveals. It shows an estimated $308 million deterioration to the state's GST revenue since the State Government put out its Midyear Budget Review two weeks ago . Premier Jay Weatherill said that despite this significant writedown, SA's Budget would remain on track to reach substantial surpluses by 2015-16, unlike the Federal Budget. Treasurer Joe Hockey today unveiled the state of the nation's finances in Canberra , uncovering the massive debt legacy Labor was on track to deliver. Mr Weatherill said, however, that Mr Hockey was "laying the groundwork for further cuts and we know they are going to be deep." Treasurer Joe Hockey outside Parliament House in Canberra. "We've seen the rhetoric around the disability services scheme - they are talking up the possibility of further cuts to our most vulnerable citizens," Mr Weatherill said. They're warming us up for further cuts and their form is that ordinary working men and women will get the cuts ... will get it in the neck. We have to ensure that the funding that was otherwise destined to the car industry is quarantined and applied for SA and Victorian purposes. State Opposition Leader Steven Marshall said he did not agree that the Federal Budget update was a sign of more cuts to come. I don't know what Jay Weatherill actually wants. Would he prefer the Liberal Party to adopt his stance in terms of budget reporting, which is to just make up some fantasy positive number into the future rather than give people a sober reality of what's occurring in Australia," he said Premier Jay Weatherill said the first 100 days of the Federal Liberal Government has been chaotic. Mr Weatherill labelled the Federal Government's first 100 days as "chaotic" but also applied the same label to the previous three years under a Federal Labor Government. "It's no surprise that consumer confidence is down," he said. I think that everybody was hoping that a new government comes in and there'd just be some natural good will and I must say a sense of relief that the past three years of ... the chaos of a hung parliament would come to an end. But inexplicably they've been worse than even I forecast ... certainly they've squandered that first 100 days in an extraordinary way. "We have inherited from the Labor Party Budget deficits totalling $123 billon over the next four years and unless we take action the Budget will be in deficit for at least a decade," he said. We will fix the budget, we will deliver a stronger economy.