Tasmanian Treasurer Michael Ferguson's third budget sells a message of restraint during an economic storm, with a return to surplus not projected until 2029–30.
Tasmania n Treasurer Michael Ferguson 's third budget sells a message of restraint during an economic storm.
The post-election budget — which contains a $1.3 billion cash splash for election commitments — paints a story of debt, and deficits as far as the eye can see, with a return to surplus not projected until 2029–30.Tasmania's debt is going to skyrocket to $5.4 billion in this financial yearIn four years' time, the cost of servicing that debt will increase to $441 million, or $1.2 million a day.
But when you remove one-off payments from the federal government for things such as the Bridgewater Bridge, the financial picture looks substantially worse., plus deficits in each of the following three years; the lowest a projected $288 million in 2027–28.Tasmania's treasurer unveils record infrastructure spend
In his speech, Mr Ferguson says the efficiency dividend equates to a saving of 50 cents per every $100 of government spending and represents 1.6 per cent of the spending across the forward estimates.
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