Treasurer Michael Ferguson is in debt denial and has a hard road ahead selling his budget to Tasmanians.
While Treasurer Ferguson is out today pretending that debt isn’t an issue, Tasmanians are looking down the barrel of a $5.6 billion black hole, and all while suffering a health, housing and cost of living crisis.
The debt situation is so bad that the Rockliff Government has abandoned Peter Gutwein’s fiscal strategy with borrowing costs exceeding the former 6 per cent limit of cash receipts, which will hit 7.8 per cent by 2026-27.
At the same time, this minority Liberal Government will cut $300 million from essential services like health and education to help pay for their billion dollar taxpayer-funded stadium.
One of the reasons newly independent members Lara Alexander and John Tucker quit the Liberal Party was because the Rockliff Government was not taking the problems with the budget seriously.
So it’s particularly alarming that after driving the State into record debt the minority Liberal Government still refuses to admit there’s a problem.
Deny there is a problem is exactly how the Liberals got Tasmania into this mess in the first place.
Even the Government’s own glossy budget overview doesn’t mention the words “debt”, “deficit” or “efficiency dividend”.
It is clear this minority Liberal Government is in denial and downplaying the severity of this debt - debt that has spiraled out of control since they have been in office.
The Rockliff Government is failing Tasmanians with their decisions and this budget is proof of that.
Shane Broad MP
Shadow Treasurer