Saul Eslake’s Independent Review of Tasmania's Finances has laid bare the devastating impact of Liberal financial mismanagement on Tasmania. Labor analysis released today shows the impact the Liberals' record debt servicing costs will have on frontline services.

With projected interest on the Liberals' $16 billion debt set to reach $730 million annually, Tasmania will struggle to employ thousands of frontline workers in our hospitals, schools and local communities.

Labor's analysis shows that for the cost of servicing the Liberals' debt, you could employ a combined total of:

• 800 police officers;
• 1,200 teachers; and
• 1,500 nurses

Tasmania's public services are at breaking point without this problem entirely caused by the current government’s policy decisions.  

The Liberals' ballooning debt servicing costs will make it harder to address hospital wait lists, give our schools the resources they need to lift education outcomes, and keep our community safe.

It will be Tasmanians who pay for Treasurer Ferguson’s looming budget disaster because it will impact the health, safety and education services Tasmanians rely on.

After delivering the biggest deficit in Tasmanian history and ballooning record debt, what do the Liberals actually have to show for it? The economy is flatlining, essential services are in crisis, and each week a plane full of working age Tasmanians leave the state in search of better opportunities elsewhere.

After inheriting zero net debt from Labor in 2014, the Liberals have blown the budget so badly, Tasmania is set to have the worst finances in the nation within three years.

Under Treasurer Ferguson, who recently resigned from the Infrastructure portfolio because of the monumental TT Line stuff up, it’s hard to see how they can possibly get the state’s finances back on track.

Debt Servicing Cost September 01 2024.pdf

Josh Willie  MP
Shadow Treasurer