There was one big ticket item noticeably absent from last week’s budget – a bailout payment for the Spirits of Tasmania operator, TT-Line.

After a $400 million cost blowout for the berth, an extra $100 million for the ships, and tens of millions hiding them in Scotland, Tasmanians deserve to know how much more the biggest infrastructure stuff-up in Tasmanian history is going to cost Tasmanians.

As it stands, the biggest infrastructure stuff-up in Tasmania’s history is now more than half a billion dollars over budget and six years delayed which has had a brutal impact on TT-Line’s finances.

But things could soon get even worse.

TT-Line Chairman Ken Kanofski and TasCorp Chairman Tony Ferrall have both told the Public Accounts Committee that TT-Line’s borrowing arrangement will only get the company through to September. Mr Ferrall went one step further and flagged that a State Government bailout of TT-Line is “more likely than not”.

It is absurd that while Premier Rockliff is trying to flog off Tasmania’s GBEs to pay for his ballooning debt, he will need to take on even more debt to bailout one of the businesses up for sale.

The Rockliff Minority Government is on track to rack up almost $11 billion in net debt, slugging Tasmanian taxpayers with a $650 million per year interest bill. Are they going to have to dig into their pockets for another expensive bailout payment – this time due to their own incompetence managing a major infrastructure project?

After 11 years of financial mismanagement, it’s clear that Premier Rockliff and the Liberals can’t manage money.

Josh Willie MP
Shadow Treasurer