Treasurer guy Barnett’s first budget has painted a bleak picture of Tasmania’s short-term economic future with record debt and four straight years of deficits. But he says he has a clear plan to dig the state out of its fiscal hole. Mostly through cuts to the public sector and selling state-owned companies.
Category
📺
TVTranscript
00:00A state facing economic headwinds.
00:05Guy Barnett has handed down his first budget.
00:09We need to ensure that we can have a sensible pathway to surplus.
00:15We could have a slash and burn approach that is not our approach.
00:19The budget reveals four years of deficits, shrinking to $236 million in four years' time.
00:26But once borrowings and one-off Commonwealth payments are excluded, those deficits are even bigger.
00:32And the state's debt is still growing, reaching $10.8 billion by 2028.
00:37And there's no target for when it will start to shrink.
00:40The Treasurer says he has a plan to right the ship.
00:43The budget's about building a better Tasmania now and for the future.
00:48To tackle debt, the government will look to sell crown land and government business enterprises.
00:54But following advice from economist Saul Weslake, they've ruled out selling assets including hydro and Tasrail.
01:01And will reverse the decision to commercialise parts of the public trustee.
01:07A mega merger of Tasrail, TT Line and Tasports is also off the table.
01:12After a review found it would be bad for competition.
01:15Assets which could be up for sale include Tasports, the MAIB, Aurora and Metro.
01:22This is the most unsustainable budget in Tasmania's history.
01:26Debt is spiralling out of control.
01:28There is no pathway to surplus.
01:30Well the Liberals' budget is a massive fire sale of public land, public assets, public businesses to fund the stadium and their other warped priorities.
01:41The Treasurer also plans to rein in public sector spending.
01:45A new efficiency and productivity unit will be tasked with making at least $150 million a year in savings.
01:51The government hopes it can exceed that as it cuts 2,500 public service jobs in the next seven years.
01:58We now know the extent of the budget's deficit problem and the Treasurer's plans to address it.
02:04But there's still lots that's up in the air.
02:06Including which services will be cut back and which public assets could be sold.
02:10And most sales will need to be approved by parliament.
02:14Okay its worth best out of time out of time.
02:15So the fuck is dead?
02:16Yes you got your job is allowed my duty to sell, they may come from thenel Γ you have for all your money instead of $200 million.
02:20And then the current year Place Hootschselhler has been well arranged as well.
02:22Thanks to the absolute fluffy trail and beautiful as well as your vaig Software Manager would be sold 2,600 And when you asked for storage given the opportunity there.
02:24That's not worth waiting.
02:25Subpreую in it to the U.S.
02:27Use the infrastructuregruppe for purposes for normal due to hours .
02:29That's a nice place that cough.
02:30So here is already a nice column where you dot was already Hernandez....
02:37let's not be Mob.
02:38This isestenthat is supposed to be.