South Australian Treasurer Rob Lucas says the $3 billion in election spending promises made by the Labor Party is a big “red flag” for households and businesses, who will end up paying one way or another should the opposition win Saturday’s election.

Mr Lucas, who is retiring from politics at the election, on Monday released the Liberal Party’s own costings which are less than one third of those promised by Labor. He also revealed there would be no more major announcements by Premier Steven Marshall for the rest of the week.